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PERSONNEL - Director Coral Ferrin
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Requested Action(s)
recommendation
a) Request adoption of TCPR §5303: Deferred Compensation Plan
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Financial Impact:
There is no financial impact associated with this request.
Background Information:
§5303: Deferred Compensation Plan
On April 8, 1980, Tehama County established a program whereby County employees could voluntarily authorize deferral of a portion of their wages to be invested in an approved deferred compensation plan regulated by applicable state and federal law. On July 1, 2023, Tehama County transitioned to a new Deferred Compensation Plan sponsor. The purpose of this rule is to serve as a guide for the Tehama County Deferred Compensation Plan and outlines information relative to the new Deferred Compensation Plan sponsor, including investment options, the County match, and how to enroll and make changes. This personnel rule was drafted as a guide for all employees, excluding Extra Help.
The draft was created by the Personnel Department, then routed through the Personnel Review Committee, the Department Heads, and the bargaining units, if applicable. The process then continues to presentation and/or approval by the full Board, which is the final step in approving this Personnel Rule.