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RESOLUTION #01-11.0.3.3 A RESOLUTION ESTABLISHING A DEFERRED COMPENSATION PLAN IN ACCORDANCE WITH SECTION 457 OF THE INTERNAL REVENUE CODE r Ot248 WHEREAS, The County of Hall currently has an established deferred compensation plan for county officers and officials and employees; and WHEREAS, The County Board of Hall County desires to establish an alternative deferred compensation plan by a variable annuity contract and administrative services agreement with Hartford Life Insurance Company, said plan hereinafter referred to as the "Hartford Life Deferred Compensation Plan," in accordance with ~ 457 of the Internal Revenue Code and Nebraska Revised Statute ~48-1401. NOW BE IT RESOLVED as follows: A) The County of Hall, by and through. its County Board ofSupervi.sors, hereby establishes the Hartford Life Deferred Compensation Plan, a deferred compensation plan in accordance with ~ 457 of the Internal Revenue Code and Nebraska Revised Statute ~48- 1401. B) The Hall County Clerk is hereby authorized to execute such agreements, applications, and contracts, in the name of and on behalf of the County of Hall, as are necessary to implement the Hartford Life Deferred Compensation Plan and is hereby designated as the "Plan Administrator." C) The Plan Administrator, or his or her designee, is hereby authorized to: 1) execute the individual participation agreements (enrollment forms) for the County with those individuals who are eligible and elect to participate in the plan; 2) Monitor the administration of the Hartford Life Deferred Compensation Plan; and 3) Review requests from participants for unforeseen emergency withdrawals to detennine if the request meets the requirements of ~ 457 of the Internal Revenue Code and the regulations pertaining thereto. D) The Hall County Treasurer is hereby designated the custodian of the funds and securities of the Hartford Life Deferred Compensation Plan. Said custodian shall invest said funds in an annuity contract or annuity contracts as provided by the "Individually Allocated Group Variable Annuity Contract" executed by and between the County of Hall and Hartford Life Insurance Company and the individual participation agreements executed by persons who elect to participate in the plan. E) It is understood that, other than incidental expenses of collecting and disbursing the employees' deferrals and other minor administrative matters, there is to be no cost to or contributions by the County of Hall. F) Any deferred compensation plan previously approved by the County Board of Supervisors shall be unaffected by this resolution.