ADOPTED - NOVEMER 13, 2007

Agenda Item No. 13

 

Introduced by the County Services and Finance Committees of the:

 

INGHAM COUNTY BOARD OF COMMISSIONERS

 

RESOLUTION TO ADD AXA FINANCIAL TO THE COUNTY’S

457 DEFERRED COMPENSATION PLANS

 

RESOLUTION #07-277

 

WHEREAS, the Deferred Compensation Committee has reviewed the AXA Financial deferred compensation plan; and

 

WHEREAS, the Committee believes that the addition of this plan will be of added benefit to the employees of the County; and

 

WHEREAS, the Committee consisting of the Controller, Finance Director, and Human Resources Director is recommending that AXA be approved as an additional deferred compensation plan.

 

THEREFORE BE IT RESOLVED, that the Board of Commissioners authorizes the Compensation Committee to enter into a contract with AXA Financial for an additional deferred compensation plan, effective January 1, 2008. 

 

BE IT FURTHER RESOLVED, that AXA Financial shall complete a full disclosure form which outlines all contract fees, transfer limitations, surrender charges, and agent commissions to be made available during all enrollment discussions with employees.

 

BE IT FURTHER RESOLVED, that the Board Chairperson is authorized to sign any necessary contracts after review by the County Attorney.

 

COUNTY SERVICES:  Yeas:  De Leon, Nolan, Copedge, Soule, Dougan, Severino

               Nays:  None             Absent:  None     Approved 11/6/07

 

FINANCE:  Yeas:  Celentino, Grebner, Tennis, Dougan

                Nays:  None             Absent:  Weatherwax-Grant, Hertel           Approved 11/7/07