County Commissioner Ordinance-October 2008-4ORDINANCE NO. 2008 - 9
AN ORDINANCE ESTABLISHING A DEFERRED COMPENSATION PLAN
WHEREAS, the Board of County Commissioners of Gibson County,
Indiana, wish to establish a Deferred Compensation Plan for all
eligible employees of the Sheriff's Department of this County; and
WHEREAS, tax benefits could accrue to employees of the Sherif�'s
Department who participate in such a Deferred Comoensation Plan, which
would encourage such employees to invest a portion of their
compensation in the Deferred Compensation Plan and assist them in
providing for their future financial security and supplement their
retirement benefits; and
WHEREAS, the State of Indiana permits the establishment by
Ordinance of a Deferred Compensation Plan by any of its political
subdivisions; and
WHEREAS, the Gibson County Sheriff's Depar�ment wishes to
participate in a Deferred Compensation Plan established with other
County Sheriff's Departments in the State of Indiana and to sign the
appropriate Adoption Agreement to permit its employees to enroll in
and invest some of their compensation in such Deferred Compensation
Plan;
NOW, THEREFORE, BE IT ORDAINED by the Board of County
Commissioners of Gibson County, Indiana as follows:
1. The Board of County Commissioners of Gibson County, Zndiana
hereby establish a Deferred Compensation Plan for the Gibson County
Sheriff's Department to allow for the vo�untary participation of
employees of such Sheriff's Department.
2. The Sheriff's Department will utilize the Deferred
Compensation Plan established by County Sheriff's Departments in
Zndiana known as the Indian Sheriffs 957(B) Plan and participate in
the group trust arrangement established by that Deferred Compensation
P1an; and the Sheriff is authorized to sign the Adoption Agreement co
par�icipate in the Deferred Compensation Plan.
3. The Board of County Commissioners of Gibson County, Indiana
hereby authorize the Gibson County Auditor to make deductions from the
pay of employees of the Sheriff's Department who voluntarily
participate in the Deferred Compensation Plan and to deposit the
deferrals in the Trust. The Gibson County Commissioners also
authorize the Committee made up of representatives of the Sheriff
Departments participating in the Plan (as determined by participating
Sheriff Departments) to make such other arrangements as are necessary
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to implement the Plan. It is understood that, other than the
incidental expenses related to collecting the employees' deferrals and
other minor administrative matter, there is to be no cost to or
contribution by the County to this Plan.
4. This Ordinance shall be in full force and effect from and
after its passage.
PASSED AND ADOPTED by the Board of County Commissioners of Gibson
County, Indiana this 7`" day of October, 2008.
SHERRELL MARGINET, Pres�Hent
DON WHiTEHEAD, M
��2YCF'�G! �E����v�,�
ROBERT TOWNSEND, Member
ATTEST:
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MARY KEY bson Auditor
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