Title
Treasurer-Tax Collector's Department recommending the Board approve the County 457 Deferred Compensation Plan Investment Policy Statement.
FUNDING: N/A
Body
DISCUSSION / BACKGROUND
The County of El Dorado provides employees with tax-deferred savings plans to supplement their retirement income. The Investment Policy Statement is intended to assist the Plan's fiduciaries by establishing guidelines for prudently making investment-related decisions. It outlines the underlying philosophies and processes for the selecting, monitoring, and evaluating investment options.
ALTERNATIVES
The Board of Supervisors could decide not to approve the Investment Policy Statement. If so, there will be no up to date documented guidelines for Plan fiduciaries.
PRIOR BOARD ACTION
Legistar File Number 07-1638, 11/06/2007, Deferred Compensation Plan Investment Policy
OTHER DEPARTMENT / AGENCY INVOLVEMENT
County Counsel
CAO RECOMMENDATION / COMMENTS
Approve as recommended.
FINANCIAL IMPACT
N/A
CLERK OF THE BOARD FOLLOW UP ACTIONS
N/A
STRATEGIC PLAN COMPONENT
Good Governance
CONTACT
K. E. Coleman, MBA
Treasurer-Tax Collector