§ 1-2-131. Deferred compensation.

(a)

The Board of County Commissioners of Charlotte County, Florida, (the "board") finds that it is in the best interest of the county to establish and maintain an optional deferred compensation program for its employees and elected officials, and for employees and elected officials of any constitutional county officer electing to jointly participate in the county deferred compensation program.

(b)

The board shall authorize one or more underwriting entities that meet the requirements of law to offer approved deferred compensation plans under this section, and may change or revoke any prior authorization, by resolution adopted at any regular or special meeting.

(c)

The county administrator is hereby designated as the plan administrator of all deferred compensation plans. The county administrator, or his or her designee, may execute for the county individual participation agreements with each employee requesting the same and may execute such other agreements and contracts as are necessary to implement the program(s). It is implicitly understood that other than the incidental expenses of collecting and disbursing the employees' deferrals and other minor administrative matters, or as otherwise may be authorized by contract, there is to be no cost or contribution by the county to the program.

(Ord. No. 82-36, §§ 1, 2, 8-17-82; Ord. No. 93-08, § 1, 4-6-93; Ord. No. 2017-001, § 1, 1-10-17)