, Columbus, Georgia Consolidated Government (hereinafter, the “Plan Sponsor") established the Columbus Consolidated Government Deferred Compensation Plan (hereinafter, the “Plan"), effective January 19, 1996 for the exclusive benefit of its employees and their beneficiaries; and
, in order to implement a new Service Provider Contract for the Plan and make necessary updates to comply with federal tax law, it is necessary and appropriate to amend and restate the Plan in the form of the Plan attached hereto; and
it is desirable to create a Deferred Compensation Board and delegate certain functions relating to the Plan to that Board and to delegate other administrative functions to certain CCG staff members.
NOW, THEREFORE, THE COUNCIL OF COLUMBUS, GEORGIA HEREBY RESOLVES AS FOLLOWS:
The Mayor, on behalf of the Plan Sponsor, is hereby authorized to execute the attached amendment and restatement of the Plan to become effective May 13, 2016.
The City Manager, or his designee, is authorized to execute all agreements as may be necessary to implement and administer the Plan including but not limited to Service Provider Agreements and Custodial Agreements or amendments of those documents. Various officials including the Director or Assistant Director of Finance, the Director or Assistant Director of Human Resources, the Payroll Supervisor and Retirement Manager are hereby authorized to undertake any day to day administrative duties for the Plan which are the responsibility of the Plan Sponsor.
There is hereby created a Deferred Compensation Board which shall serve to oversee the Plan and make such discretionary decisions as may be required for the administration of the Plan. The Board’s duties will include a quarterly review of the performance of Service Providers and their offerings, and receiving and considering any comments or suggestions concerning the Plan which are presented by Plan Participants. The Board is also permitted by the Plan to adopt Plan Amendments which are deemed by counsel to be legally required or other amendments which do not substantially increase costs, contributions or benefits and do not materially affect the eligibility, vesting or benefit accrual or allocation provisions of the Plan.
The Board will consist of five members: 1) the Director of Human Resources or her designee by title, 2) the Director of Finance or her designee by title, 3) a general government employee who is a Plan Participant to be selected by the City Manager, 4) a Public Safety employee who is a Plan Participant to be selected by the Mayor in her capacity as the Director of Public Safety, and 5) a volunteer from the business community with expertise in the administration of deferred compensation plans nominated and confirmed by Council. The first two positions will be ex-officio voting members with no term limit. The persons appointed to fill positions 3,4, and 5 will be appointed for terms of three year terms and may succeed the themselves for one additional term.
Introduced at a regular meeting of the Council of Columbus, Georgia held on the 22nd day of March, 2016, and adopted at said meeting by the affirmative vote of ________ members of said Council.
Councilor Allen voting_____________.
Councilor Baker voting_____________.
Councilor Barnes voting____________.
Councilor Buck voting______________.
Councilor Davis voting_____________.
Councilor Henderson voting_________.
Councilor Huff voting______________.
Councilor Pugh voting______________.
Councilor Thomas voting____________.
Councilor Woodson voting___________.
TINY B. WASHINGTON, CLERK TERESA PIKE TOMLINSON, MAYOR
#27898100v7 Columbus Deferred Compensation Plan 2016.DOC