BOARD OF COUNTY COMMISSIONERS

OF

FRANKLIN COUNTY, KANSAS

 

RESOLUTION NO. 07-015

 

A RESOLUTION ESTABLISHING A RETIREMENT PLAN FOR FRANKLIN COUNTY’S ADMINISTRATOR

 

WHEREAS, Franklin County, Kansas, is a county municipal government with the power of home rule pursuant to K.S.A. 19-101 et seq. and the statutory authority , and;

 

WHEREAS, the Board of Commissioners believes that the County’s employees are its most important asset, and;

 

WHEREAS, the Board of Commissioners is committed to becoming an employer of excellence, and;

 

WHEREAS, the Board of Commissioners desires that its money purchase retirement plan be administered by the ICMA Retirement Corporation and that the funds held in such plan be invested in the Vantage Trust, a trust established by public employers for the collective investment of funds held under their retirement and deferred compensation plans:

 

THEREFORE, BE IT RESOLVED

BY

THE BOARD OF COUNTY COMMISSIONERS OF FRANKLIN COUNTY THAT:

 

 

Franklin County hereby establishes a money purchase retirement plan (the “Plan”) in the form of the ICMA Retirement Corporation Governmental Money Purchase Plan & Trust, pursuant to the specific provisions of the Adoption Agreement (executed copy attached hereto).

 

The Plan shall be maintained for the exclusive benefit of eligible employees and their beneficiaries: and

 

BE IT FURTHER RESOLVED that Franklin County hereby executes the Declaration of Trust of the Vantage Trust, and attached hereto, intending execution to be operative with respect to any retirement or deferred compensation plan subsequently established by the Employer, if the assets of the plan are to be invested in the Vantage Trust; and

 

BE IT FURTHER RESOLVED that Franklin County hereby agrees to serve as the trustee under the Plan and to invest funds held under the Plan in the Vantage Trust; and

 

BE IT FURTHER RESOLVED that the HR Department shall be the coordinator for the Plan; shall receive reports, notices, etc., from the ICMA Retirement Corporation of the Vantage Trust; shall cast, on behalf of the Employer, any required votes under the Vantage Trust; may delegate any administrative duties relating to the Plan to appropriate departments; and

 

BE IT FURTHER RESOLVED that Franklin County hereby authorizes the HR Department to execute all necessary agreements with the ICMA Retirement Corporation incidental to the administration of the Plan.

 

PASSED AND ADOPTED by the Franklin County Board of County Commissioners this 28th day of March 2007.  This resolution shall take effect and be in full force upon its adoption.

 

 

                  /s/ Roy C. Dunn                                                                Voted no

          Roy C. Dunn                                                             Karen S. Farrell                    

Commissioner District 3                                                 Commissioner District 1

 

 

 

                         Voted No                                     /s/ John E. Taylor                                         /s/ Donald R. Stottlemire

                     Donald C. Hay                     John E. Taylor                                              Donald R. Stottlemire   Commissioner District 4                       Commissioner District 2                                  Commissioner District 5

 

 

 

Attested and Recorded, this 28th day of March 2007.

 

 

 

/s/ Shari Perry

Shari Perry

          County Clerk