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AI- 3568   9. B. 5.    
BOC Regular
Meeting Date: 05/06/2021  
457 Plan
Submitted For: Kim Archambault FROM: Kim Archambault, HR Director, Human Resources
Department: Human Resources  

Information
RESOLUTION:
 Resolved that the Board of Commissioners approve the board chair signing the remaining documents/agreements that are needed for the 457 plan consolidation.
RECOMMENDATION:
 It is recommended that the Board of Commissioners approve the remaining documents/agreements needed for the 457 plan consolidation.
BACKGROUND:
 On December 17, 2020, the Board approved the consolidation of three existing 457 plans into one plan.  Then on January 21, 2021 the Board approved the consolidation of the 457 plan assets with the 401(k) under the administration of Alerus (as custodian and already managing the exiting 401(k) plan).  The attached paperwork for signature by the Board chair is simply the final paperwork acknowledging those items and administrative set-up of the new plan. 
ALTERNATIVES:
 
SUMMARY:
 

Fiscal Impact
BUDGETARY IMPACT:
There is no budgetary impact to the County.
Attachments
Service Agreements - 457 Plan

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