HomeMy WebLinkAbout921216.tiff RESOLUTION
RE: APPROVE AUTHORIZATION TO OFFER SEVEN OPTIONS FOR 401K PLAN AND AUTHORIZE
CHAIRMAN 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 authorization to offer seven
options for the 401K Plan, and
WHEREAS, after review, the Board deems it advisable to approve said
authorization, 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 authorization to offer seven options for the 401K Plan
be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chairman be, and hereby is,
authorized to sign said authorization.
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following vote on the 30th day of December, A.D. , 1992.
�I///�� /� BOARD OF COUNTY COMMISSIONERS
ATTEST: -' J m WELD CO NTY, COLORADO
2a0h,4 /v v
Weld County Clerk to the Board
_/j G`e/o/ ge Kenn
- y, Chairman
BY: ��sly,4, 1 `j7 t ,?i z c ///6 a'L� i c2 s-L��r f/c-j�—
Deputy Clerk to the Boaxdi\ Constance L. Harbert, Pro-Tem
APPROVED AS TO ORM: /fdj ---(7
C. W. K'rb
c //I
County Attorney Go d . a y
W. H. Webster
921216
THE PRINCIPAL FINANCIAL GROUP
Regional Group and Pension Office
1290 Broadway, Suite 701
Denver, CO 80203-5607(303) 837-1026
December 4, 1992
MR PAT PERSICHINO
PERSONNEL DIRECTOR
WELD COUNTY
915 - 10TH STREET
GREELEY CO 80631
The IRS has finalized regulation 404(c), which can relieve you, as the Plan Sponsor, of some fiduciary
liability.
Your Plan allows employees to chose from an array of investments offered by Principal Mutual and 404(c)
says if that array is broad enough and meets certain requirements, then the Plan Sponsor is not responsible
for any employee elections, as long as certain technical requirements are met.
The Principal offers 7 investment options which meet the requirements of 404(c) and, therefore, we are
recommending you allow employees to choose from all 7. Enclosed is investment history on all 7
investments, including the ones you are now offering. If you agree these alternatives should be offered to
employees, please simply sign the authorization at the bottom of this letter and return it to the Denver office.
We'll take care of it from there. Note, there are no additional costs or fees associated with offering all 7
investments.
Sincerely,
Robert J. Brabec, CEBS, CLU, ChFC Daniel J. Nemmers, CLU, ChFC Ginger J. Heitman
Regional Group and Asst. Regional Group and Group and Pension
Pension Manager Pension Manager Representative
RJB/lo
enc.
cc: Your Broker
P.S. With your next mailing of investment results we will be including information on all 7
investments, even if you have elected to offer some number less than 7.
Agreed to this 4U day of ,c E-on L2egL , 19 ' 2?
Signature (Officer) //'/R:
16.47, rAtij
the'rincipa
Financial
Group
CC /1cc ��;1 '
PERSONAL RETIREMENT ACCOUNT EXPENSE AGREEMENT
Group Annuity Contract No . GA 66947
Administer the Personal Retirement
for the Inactive Members
Account Recordkeepin
as elected below.
g Charge
Bill
s
gee for the Personal Retirement
Char a
(NOTE: Account Recordkeeping
This method is NOT AVAILABLE
if the recordkeeping
charge for active members
is deducted , )
�_ Deduct the Personal Retirement
Deduct
the the r inactive
accounts . Account Recordkeepin
Members ' personal retirement
1rement
i
Name
l �-
Title /
% �a-cm c
Date
� �-
PLEASE SIGN AND RETURN TO YOUR
PRINCIPAL MUTUAL ADMINISTRATOR
the•rincipa ,.
fioatr al. 16
Group
Des Moines, IA 50392-0001
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