Agenda 12/15/2009 Item #16E 4
Agenda Item No. 16E4
December 15, 2009
Page 1 of 2
EXECUTIVE SUMMARY
Recommendation to approve payment of $3,666.66 which is 2/12ths of the
IRS allowable annual contribution amount, to the deferred compensation
account of former County Manager, James V. Mudd, in accordance with his
contract, to be processed January 2010.
OBJECTIVE: To contribute to the retirement account of former County Manager, James
V. Mudd in accordance with the terms of his contract.
CONSIDERATIONS: The County Manager Employment Agreement, originally executed
July 30, 2002 was subsequently amended in November 2005 to extend the date of
termination to September 30, 2010. Within this contract, Section 13, Retirement,
provides that the employer (Collier County) agrees to pay the maximum allowable
annual amount into the employee's (James V. Mudd's) current retirement fund on the
employee's behalf on the effective date of the contract and on the anniversary of said
date thereafter to either Nationwide Retirement Solutions or ICMA Retirement
Corporation as determined by the employee.
The full contribution was made to Mr. Mudd's Nationwide account on July 30, 2009.
From that date until the date on which he tendered his resignation to the Board of
County Commissioners on September 30, 2009, he earned two months (2/12ths}
towards the annual allotment of deferred compensation that would be payable in 2010.
Under IRS regulations, contribution limits are set on a calendar year basis. As the
County made the maximum allowable contribution in 2009, the 2/12ths due to Mr. Mudd
must be contributed in January 2010.
LEGAL CONSIDERATIONS: This item has been reviewed by the County Attorney's
Office and is legally sufficient for Board action.- CMG
FISCAL IMPACT: Funds are available in the County Manager Department budget,
under fund and cost center 001-100110.
GROWTH MANAGEMENT IMPACT: There is no growth management impact
associated with this Executive Summary.
RECOMMENDATION: Approve payment of $3,666,66 to the Nationwide Retirement
Solutions account of James V. Mudd, in accordance with Mr. Mudd's County
employment contract, in January 2010.
PREPARED BY: Amy Lyberg, Director, Human Resources
-
Item Number:
Item Summary:
Meeting Date:
Agenda Item No. 16E4
December 15. 2009
Page 2 of 2
COLLIER COUNTY
BOARD OF COUNTY COMMISSIONERS
16E4
Recommendation to approve payment of $3,666.66 which is 2/12ths of the IRS allowable
annual contribution amount, to the deferred compensation account of former County
Manager, James V. Mudd, in accordance with his contract, to be processed January 2010.
12/15/2009 9:00:00 AM
Prepa red By
Amy Lyberg
Administrative Services
Division
Director ~ Human Resources
Date
Human Resources
11/30/20093:49:37 PM
Approved By
Len Golden Price
Administrative Services
Division
Administrator - Administrative Services
Date
Administrative Services Division
12/1/200911:04 AM
Approved By
Jeff Klatzkow
County Attorney
Date
Approved By
12/1/20094:33 PM
OMS Coordinator
County Manager's Office
Date
Office of Management & Budget
12/2/200910:02 AM
Approved By
Laura Davisson
County Manager's Office
Management & Budget Analyst
Date
Office of Management & Budget
12/2/2009 10:43 AM
Approved By
John A. Yonkosky
Office of Management &
Budget
Director - Management and Budget
Date
Office of Management & Budget
12/2/200911:26 AM