Ordinance 83-25ORDINANCE ~10. 83 - 25
AN ORDINANCE ESTABLISHING A DEFERRED COMPEN-
SATION PROGRAM FOR THE OFFICERS AND EMPLOYEES
' ' OF COLLIER COUNTY, FLORIDA; APPROVING AND
ADOPTING THE NATIONAL ASSOCIATION OF COUNTIES
DEFERRED COMPENSATION PROGRAM; DESIGNATING
THE PUBLIC EMPLOYEES BENEFIT SERVICES CORPO-
RATION TO ADMINISTER THE PLAN; AUTHORIZIMG
THE COUNTY MANAGER OR HIS DESIGNATE TO ENTER
INTO PARTICIPATION AGREEMENTS WITH COUNTY
OFFICERS AND EMPLOYEES; CREATING A DEFERRED
COMPENSATION PROGRAM COMMITTEE TO REVIEW PLAN
PERFOPd%ANCE AND CONSIDER CLAIMS FOR HARDSHIP
DISTRIBUTION; DESIGNATING SUCH COMMITTEE TO
~KE DETERMINATIONS PURSUANT TO FLORIDA
STATUTES, SECTION 112.215(6) (b) REGARDING
INCOME TAX AND RETIREMENT PROVISIONS OF SUCH
PLAN; AND PROVIDING AN EFFECTIVE DATE
WHEREAS, Collier County has considered the establishment of a
Deferred Compensation Plan to be made available to all eligible
County employees, elected officials, and indepenaent contractors
pursuant to Section 457 of the Internal Revenue Code permitting
such Plans; and
WHEREAS, Florida Statutes, Section 112.215 authorizes coun-
ties to enter into deferred compensation programs for its offi-
cials and employees; and
WHEREAS, certain tax benefits could accrue to employees,
elected officials, and independent contractors participating ~.n
said Deferred Compensation Plans; and ~i ¢~ -I~
WHEREAS, such benefits will act as incentives to C9untyo3 ~--
officers and employees to voluntarily set aside and in,st
tions o~ their current income to meet their future fln~clal~,
requirements and supplement their County retirement and Social
Security (if applicable); and
WHEREAS, the National Association oI Counties (NACo) has
established a ~.~aster Deferred Compensation Program for its member
Counties, permitting its member Counties and their employees to
enjoy the advantages of this Program; and
WHEREAS, by adoption of the ~ACo Program, all regulatory,
operational, administrative and fiduciary responsibilities are
hereby assumed by NACo in behalf of County; and
WHEREAS, NACo agrees to hold harmless and indemnify the
County, its appointed and elected officers and participating
employees from any loss resulting from NACo or its Agent's failure
to perform its duties and services pursuant to the NACo Program.
NOW, THEKEFORE, BE IT ORDAINED BY THE BOARD OF COUNTY COF~IS-
SIONERS OF COLLIER COUNTY, FLORIDA, that~
Section 1. Deferred Compensation Program.
A. The Board of County Commissioners of Collier County,
Florida, hereby adopts the National Association of Counties (NACo)
Deferred Compensation Program and hereby establishes for itself
the Collier County, Florida, Deferred Compensation Plan for the
voluntary participation of all eligible County officials and
employees. The Program "Deferred Compensation Plan for Public
Employees" and "Administrative Service Agreement" documents are
hereby incorporated into and made a part of this Ordinance by this
reference. A copy of these program documents will be made avail-
able for public inspection at the office of the Clerk to the
Board. The Program is entered into with the understanding that,
other than the incidental expenses of collecting and disbursing of
the employees' deferrals and other minor administrative matters,
there will be no cost or contribution by the County to the Pro-
gram.
B. The Board of County Commissioners of Collier County,
Florida, hereby designates the Public Employees Benefit Services
Corporation (PEBSCO) to administer the NACo Deferred Compensation
Program on behalf of Collier County.
C. The Collier County Manager or his designate is hereby
authorized to execute, on behalf of Collier County, individual
participation agreements with each employee requesting to partici-
pate in the Program.
Section 2. Deferred Compensation Program Committee.
A. Establishment and Composition. The Board of County
Commissioners of Collier County, Florida, hereby creates the
Deferred Compensation Program Committee. Such Committee shall be
composed of the following persons or designates of those persons:
1. County Attorney
2. County Manager
3. Sheriff
4. Tax Collector
5. Property Appraiser
6. Supervisor of Elections
7. Clerk of Courts
The Count}, Manager, or designate, shall serve as Chairman of
the Committee.
B. Powers and Duties. The Deferred Compensation Program
Committee shall have the following powers and duties:
1. Review the performance of the NACo Deferred Compen-
sation Program and the administrative performance of PEBSCO and
make appropriate recommendations to the Board of County Commis-
$ioners.
2. Review petitions by employees for advance dis-
tribution of deferred compensation in cases of unforeseen emer-
gencies and make recommendations to PEB$CO and NACo.
3. Make recommendations to the Board of County Commis-
sioners on other matters related to deferred compensation...
C. Meetings. Meetings shall be held at such time and place
as determined by the Committee Chairman, except that a meeting
shall be held to consider a petition for hardship distribution
within thirty (30) days of such petition being filed.
Section 3. Effective Date.
This Ordinance shall become effective upon receipt of notice
from the Secretary of State that this Ordinance has been filed
with the Secretary of State.
This Ordinance adopted after motion, second and roll call
vote as follows:
Commissioner Pistor
Conur, issloner Brown
Commissioner Voss
Commissioner Holland
Commissioner Kruse
~fotioned and Aye
Seconded and Aye
Aye
Aye
Aye
2/22/83-D16
Dated: May 31 , 1983 BOARD OF COUNTY CO~ISSIONERS
COLLIER COUNTY
W ~L IA}C'J ~../REAGAN, Clerk
· . · .. · By:
~._~ .?~'~.~.~-/__..- _ - - -.. - NCES KRUSE, ,,/
"','.,". ...... . ,' '. ' Approved as to form and
~ -,, .... sufficiency ~
~4~. Burt L. SaunOers ~'
Collier County Attorney
STATE OF FLORIDA )
COUNTY OF COLLIER )
I, WILLIAM J. REAGAN, Clerk of Courts in and for the
Twentieth Judicial Circuit, Collier County, Florida, do
hereby certify that the foregoing is a true original of:
ORDINANCE NO. 83-25
which was adopted by the Board of County Commissioners
during Regular Session on May 31, 1983.
WITNESS my hand and the official seal of the Board
of County Commissioners of Collier County, Florida, this
7th day of June, 1983.
WILLIAM J. REAGAN
Clerk of Courts and Clerk,,~:iJ
Ex-officio to Board of.~.
County Commtssioners~'.'..'
eputy Clerk ' ,> '. .: ...
:oo 0t7
~e~erred C~mpensa~tion Program
/-\c]minis'~ra~ive Service Agreement
The NACo Deferred Compensation Program
MEMBER COUNTY ADMINISTRATIVE AGREEMENT
This Agreement is executed by and between the National Association of
Counties (NACo), Washington, D. C., and the County of
(County).
RECITALS ..
THE PROGRAM:
NACo has established a Master Deferred Compensation Program for its
Member Counties. permitting Member Counties and their employees to
enjoy the advantages to be derived as a result of Section 457 of the Internal
Revenue Code,
The intent of said Program is to assist Member Counties and their employees in
providing an increased measure of financial security to offset the effects of
inflation on their ultimate retirement benefits.
Said Program will provide NACo Member Counties a new way to help
employees help themselves by providing an attractive incentive to build a
voluntary fund for their supplemental retirement income requirements,
Said Program will be provided at no cost to NACo Member Counties other
than incidental expenses related to payroll deductions, and certain other
assessments levied against individual employee accounts detailed under
"ADMINISTRATIVE EXPENSES" in SECTION VIII.
II. REGULATORY CONSIDERATIONS:
NACo has received opinion of counsel that such Program .meets all necessary
criteria for approval by all federal regulatory authorities governing such
Programs, including the Internal Revenue Service,
III.
COMPETITIVE BID PROCESS:
NACo has conducted a comprehensive competitive Bid selection process on
behalf of its Member Counties to select those insurance and investment
institutions proposing the most attractive combination of costs, benefits and
services, and
This Bid selection process was performed by NACo in order to comply with
our Member Counties' required purchasing procedures,
NACo did provide each Member County with the proposed bid specifications
in advance, soliciting advice arrd counsel concerning the bid selection
process, and
IV. PROGRAM ADMINISTRATOR:
NACo has agreed to function as the Plan Administrator of said Program and to
fulfill and accep: responsibility for all administrative requirements necessary
for the successful operation of the Program, and
COUNTY CONSIDERATION:
County recognizes that such lax-sheltered savings benefits will act as incentives
for employees to voluntarily set aside and invest portions of their current
income to meet their future financial requirements and supplement their
County retirement income.
Coun:y recognizes that through the adoption of the NACo Program, all such
regulatory, operational, administrative and other Program management
responsibilities are assumed by NACo in behalf of County,
County recognizes the important contribution of NACo's technical expertise
in the design, implementation and administration of a national Program
established and administered in compliance with all applicable regulatory
jurisdictions.
017
County recognizes the advantages and economies el scale secured by the
mass purchasing leverage of NACo and its Member Counties through a
comprehensive bid selection analysis, and
County recognizes the benefits of NACo's establishing a functional
administrative system on behalf of Member Counties to administer said
Program, and
County has enacted the necessary resolution/court etd'er to adop. t the NACo PI,~q
Agreement and to establish its Deferred Compensation Program for its employees,
VI. NACo RESPONSIBILITIES:
NOW, TH[REFORE. it is agreed that NACo shall:
A. Provide County with a Deferred Compensation Plan Agreement and
nece,.,,,ar~, a~reemc, nt,, for exectmon with its participalin~ employees
~h~t h ~ ami ~dl he m,~mta~ned in compliance w~th the provi~ions of
Ihe Inh, rnal Revenue Sera,ce,
[~tahhd~ the o~erall Pro~r,~m. ~t~ fumhnq options and ,Idrl~nlstr,lti~e
opt'r,ltll)n~ ~O ,1~ 10 comply wilh other regulatory aulhorities.
includin~ s~ate statutes, constitullonal restrictions and olher
appropriate authorities.
C. Pr~ide Count~ with ~uch technical assistance as ~, m'ce~arv to
m~pJement the Pm~ram in accordance frith the needs and rfl~jectives
()t t[~(' C()UI~Iv tndisl(JtjaJ requirements,
D. ~'arrant that it has conducted, on bekalJ oJ its %lember Counties, a
comprehensive bid selection process designed to provide the most
compet~llvt' combination oJ cosls, benefits and services for NACo
~lember Counties and their employees.
[. Review annuall~ the administrative, operalional and tinancial
performance of such selected romp,~nies and take such actions as are
necessary to assure the Member CoLlnly .1nd ils employees lbo best
possible continuity of costs, benefits and services.
017 155
F. Provide a comprehensive administrative service system to facilitate
employee deferrals, reconciliations, disbursements to the investment
media, maintenance of the individual and County account records,
provide periodic statements and coordinate employee distributions,
and assure proper tax reporting systems,
G. Provide such accounting and audit systems as are necessary to insure
the fiscal integrity of the Program and to provide County with reports
and work papers as are reasonably necessary to meet County's
individual financial reporting requirements;
H. Provide for an initial and continuous employee educational program
to make certain all interested County employees receive a thorbugh
understanding of the overall Program. its advantages and restrictive
provisions of the Program,
I. Provide such employee communication materials and other forms, doc-
uments and agreements as are necessary to administer the Program,
I. Provide the Counly and its employees such convenience and
timeliness of individual services as are required for eftective
employee understandinR and participation,
K. ~gree to indemnify and hold harmless the County and its individual
officers and apl:)ropriate officials from any loss arising from NACo or
ils Agent's failure In perform its duties and services pursuant to this
Agreement.
VII,
MEMBER COUNTY AGREES thai it shall:
Provide NACo its full cooperation and support in administering the
necessary deferral system for employee contributions,
B. Disseminate from time to time, at its sole discretion, such promo-
tional material as provided by NACo for employee distribution,
C. Arrange for representatives of NACo's Progr,'~m to conduct orienta-
tion meetings with County employees,
D. Name a County official or committee to act as Contract Administrator
in behalf of the County on all material matters relating to activities of
the Program.
Accept the terms and conditions of the insurance and investment
company contracts as represented by NACo pursuant to the
operation of this Program,
It is mutually understood and agreed that NACo has designated Public
Employees Benefit Services Corporation (PEBSCO) to act as its A§ent in fulfill.
in8 certain of the administrative and marketing requirements of this
Agreement, and
Further, that the Member County has the right to terminate this Agreement
should either NACo or PEBSCO fail to satisfactorily perform its responsibi!i, ties
and services pursuant to this Agreement.
VIII. ADMINISTRATIVE EXPENSES:
County agrees that to cover the costs of implementation and administration et
the Program, NACo shall be entitled to assess quarterly each individual
employee's account an amount equal to .0875'.'f, of total assets. Such
assessment may be reduced by NACo but in no event shall be more than
per year.
This Agreement ~s etfective until wrnten notice o! terminalion is provided by
either party.
~ ~--'~[~-~ Presiden!
)'ta~7_J~L._J.9~8 3
Date Date
NATIONAL ASSOCIATION OF COUNTIES
017