The advisory committee was originally formed by the Board of Supervisors pursuant to Resolution #81-43 for the purpose of reviewing employee applications to withdraw funds from the County's Deferred Compensation Program.
The purpose of the Deferred Compensation Committee is to establish rules and processes consistent with fiduciary law, regulations, County policy and best practices. The Committee has the authority to monitor the investment line-up of the Deferred Compensation Program, make any investment changes, approve and amend the investment policy statement, and other administrative tasks such as approving hardship withdrawals. The Board retains responsibility for general oversight of the Committee's management and also has specific authority over determining or amending plan documents.
Structure & Appointment of Members
The 5 member committee consists of the following individuals:
Treasurer Tax-Collector (or their designated alternate)
Auditor-Controller (or their designated alternate)
Director of Human Resources (or their designated alternate)
2 Employees nominated by mutual agreement of the recognized employee organizations in the County