HomeMy WebLinkAbout20051137.tiff RESOLUTION
RE: APPROVE AMENDMENT TO 401(K) SAVINGS PLAN REGARDING DEFERRAL
CHANGES AND AUTHORIZE CHAIR TO SIGN
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado statute and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS,the Board has been presented with an amendment to the 401(K)Savings Plan
regarding deferral changes for the County of Weld,State of Colorado,by and through the Board of
County Commissioners of Weld County,effective April 6, 2005,with further terms and conditions
being as stated in said amendment, and
WHEREAS,after review,the Board deems it advisable to approve said amendment,a copy
of which is attached hereto and incorporated herein by reference.
NOW,THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County,Colorado,that the Amendment to the 401(K)Savings Plan regarding deferral changes for
the County of Weld,State of Colorado,by and through the Board of County Commissioners of Weld
County, be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chair be,and hereby is,authorized to
sign said amendment.
The above and foregoing Resolution was,on motion duly made and seconded,adopted by
the following vote on the 6th day of April, A.D., 2005.
"� �_ BOARD OF COUNTY COMMISSIONERS
�
� ,f� �� WELD COUNTY, COLORADO
CS
851 William H. ke, Chair
trelc Cqunty1 blerk to the Board
N. M. J. eile, Pro-Tem
BY: -7
Deputy Clerk to the Board EXCUSED
Da 'd E. Lon \
A DAST
<'r�� Robert as n
ounty Aftr y p Liii 6
G Vaad
Date of signature:
2005-1137
PE0010
0e.. PC D4{-a_os'
AMENDMENT NO. 1
WELD COUNTY 401(K) SAVINGS PLAN
The Plan named above gives the Employer the right to amend it at any time. According to
that right, the Plan is amended effective May 1, 2005 as follows:
By striking the second paragraph of subparagraph (a) under the EMPLOYER
CONTRIBUTIONS SECTION of Article III and substituting the following:
The elective deferral agreement to start or modify Elective Deferral Contributions
shall be effective on the first day of the first pay period following the pay period in
which the Participant's Entry Date (Reentry Date, if applicable) or any following date
occurs. The elective deferral agreement must be entered into on or before the date it
is effective.
This amendment is made an integral part of the aforesaid Plan and is controlling over the
terms of said Plan with respect to the particular items addressed expressly herein. All other
provisions of the Plan remain unchanged and controlling.
Unless otherwise stated on any page of this amendment, eligibility for benefits and the
amount of any benefits payable to or on behalf of an individual who is an Inactive
Participant on the effective datels) stated above, shall be determined according to the
provisions of the aforesaid Plan as in effect on the day before he became an Inactive
Participant.
Signing this amendment, the Employer, as plan sponsor, has made the decision to adopt
this plan amendment. The Employer is acting in reliance on its own discretion and on the
legal and tax advice of its own advisors, and not that of any member of the Principal
Financial Group or any representative of a member company of the Principal Financial
Group. �/, �✓
Signed this 4.7 f t day of tact / p�J WELD COUNTY / n
By /U7%//Gt/
R',2, ad We/ M l t -
tle
Amendment No. 1 1
2005-1137
Hello