§ 2-37. Deferred compensation program.

(a)

Marion County hereby establishes a deferred compensation program (the "county program") to be available on a voluntary basis for all county employees, all county commissioners, all constitutional officers, and the employees of such constitutional officers, and any other state, county, or municipal entity authorized by law to participate in the county program.

(b)

The county program established by this section shall consist of approved deferred compensation plans provided by entities ("providers") legally authorized to provide such plans and approved by the board of county commissioners in accordance with the terms of this section.

(c)

In order for a provider to be qualified for approval by the board, the prospective provider shall first submit to the county administrator a prospectus, proposal, or other documentation showing the details of the plan and information regarding the financial resources and stability of the proposed provider. The county administrator shall make any inquiry deemed necessary to determine whether the proposed program satisfies the criteria specified in F.S. section 112.215(6)(b) and is otherwise capable of providing a deferred compensation program. The county administrator may request any additional information from the proposed provider. The county administrator shall prepare a report and recommendations to the board of county commissioners, which may approve or reject the proposed provider.

(d)

The county administrator shall be the designated administrator for all approved plans. The county administrator may designate one or more individuals to assist in the administration of such plans or to administer such plans on behalf of the constitutional officers electing to participate in the county program. The county administrator or his designee is authorized to execute individual participation agreements with participating members.

(e)

The county may, but shall not be required to, assume all or any portion of the costs of the county program, as may be approved by resolution of the board of county commissioners.

(Ord. No. 87-14, §§ 1—5, 4-21-87)

Editor's note

Ord. No. 87-14, adopted Apr. 21, 1987, was not specifically amendatory of this Code; hence, inclusion of §§ 1—5 as § 2-37 was at the editor's discretion.

Cross reference

Financial affairs, § 2-16 et seq.