HomeMy WebLinkAbout40-05 - Res. Authorizing Dept. of Retirement to Offer Deferred Compensation Programs RESOLUTION NO . 40 - 05
RESOLUTION AUTHORIZING THE WASHINGTON STATE
DEPARTMENT OF RETIREMENT SYSTEMS TO OFFER A
DEFERRED COMPENSATION PROGRAMS TO THE EMPLOYEES OF
MASON COUNTY
WHEREAS , the Department of Retirement Systems , Deferred Compensation
Program in accordance with RCW 41 . 50 . 770; administers the deferred compensation
plan for the employees of the State of Washington as outlined in WAC Chapter 415 -
501 ; and ,
WHEREAS , RCW 41 . 50 . 770 permits Counties , Municipalities , and other political
subdivisions to participate in the State of Washington Employee 's Deferred
Compensation Plan ; and,
WHEREAS , Mason County, has reviewed the State plan and agrees to accept all terms and
conditions of the State plan as established and as hereafter amended; and,
WHEREAS , Mason County understands and agrees that all monies deferred by its employees are
held in trust by the Washington State Investment Board for the exclusive benefit of program
participants and eligible beneficiaries .
NOW, THEREFORE , BE IT RESOLVED , that Mason County requests approval by the
Department of Retirement Systems , Deferred Compensation Program to participate in the
aforementioned deferred compensation plan for the employees of Mason County, subject to the
requirements of RCW 41 . 50 . 770 and WAC Chapter 415 - 501 .
ADOPTED this 3rd day of May, 2005 .
BOARD OF COUNTY COMMISSIONERS
ATTEST :
.layni Kai in, Chtirperson CIL.
Rebecca . Rogers /
Clerk of the Board
n a mg-Erickson, Commi oner
VMichaellift
AS TO FORM :
AIIIIIIIIIIIIII
Tim Sheldon, Commissioner
Chief Deputy Prosecuto