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Home My WebLink About20232935.tiffRESOLUTION RE: APPROVE EMPLOYER PARTICIPATION AGREEMENT AND EMPLOYER ROTH AFFILIATION PARTICIPATION AGREEMENT FOR VOLUNTARY SAVING PLAN OPTIONS FOR ELIGIBLE EMPLOYEES, AND AUTHORIZE CHAIR TO SIGN - COLORADO PUBLIC EMPLOYEES' RETIREMENT ASSOCIATION (PERA) 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 Employer Participation Agreement and Employer Roth Affiliation Participation Agreement for Voluntary Saving Plan Options for Eligible Employees between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, on behalf of the Department of Human Resources, and the Colorado Public Employees' Retirement Association (PERA), with further terms and conditions being as stated in said agreements, and WHEREAS, after review, the Board deems it advisable to approve said agreements, copies of which are attached hereto and incorporated herein by reference. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the Employer Participation Agreement and Employer Roth Affiliation Participation Agreement for Voluntary Saving Plan Options for Eligible Employees between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, on behalf of the Department of Human Resources, and the Colorado Public Employees' Retirement Association (PERA), be, and hereby are, approved. BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized to sign said agreements. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 4th day of October, A.D., 2023. ATTEST: Weld County Clerk to the Board eml .UJ0;AuJrd4_ Deputy Clerk to the Board APP e . ED RM: County Attorney Date of signature: 10! 9 I Z3 cc:PE PE (TS /t-tR/SDO 10120/A3 BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO eina, ✓LP — Mi man, Chair 047/} Per, L. Bu Pro-Tem ott K. James c-) Ross ED ine 2023-2935 PE0035 CorrWac+ iDI:O3)� BOARD OF COUNTY COMMISSIONERS PASS -AROUND REVIEW PASS -AROUND TITLE: 2024 PERA Voluntary Savings Plans for Health Dept. EE's/DA DEPARTMENT: Human Resources DATE: 07/19/2023 PERSON REQUESTING: Staci Datteri-Frey, Jill Scott Brief description of the problem/issue: Health department employees and D.A. who are under the CO- PERA retirement plan also have the opportunity to participate in voluntary retirement savings plans. Currently the only plan option is the PERA 401k (before tax option). In order to enhance and align with benefit options available to other employees we are requesting to provide a voluntary PERA 401(k) Roth, PERA 457 - Before Tax, and PERA 457- Roth option. What options exist for the Board? (include consequences, impacts, costs, etc. of options): Approve plans opportunties for health department employees & D.A. No cost to the County. These plans will be employee contributions only. Continue with the existing option for the upcoming year. Recommendation: Staff recommendation is to enhance and align the benefit options for health department employees and the D.A with the approval of the requested plans. Perry L. Buck, Pro-Tem Mike Freeman, Chair Scott K. James Kevin D. Ross Lori Seine Schedule Work Session cc., Ormse, H R ioto51 a3 Other/Comments: 2023-2935 oil .P6 0053 Karla Ford From: Sent: To: Subject: yes Lori Saine Weld County Commissioner, District 3 1150 O Street PO Box 758 Greeley CO 80632 Phone: 970-400-4205 Fax: 970-336-7233 Email: Isa ine@weldgov.com Website: www.co.weld.co.us In God We Trust Lori Saine Tuesday, August 1, 2023 9:16 AM Karla Ford RE: Please Reply - Pass around BOCC - PERA Plan Revisions Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential or otherwise protected from disclosure. If you have received this communication in error, please immediately notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. From: Karla Ford <kford@weld.gov> Sent: Tuesday, August 1, 2023 9:03 AM To: Lori Saine <Isaine@weld.gov> Subject: Please Reply - Pass around BOCC - PERA Plan Revisions Importance: High Please advise if you approve recommendation. Thank you. Karla Ford A Office Manager, Board of Weld County Commissioners 1150 O Street, P.O. Box 758, Greeley, Colorado 80632 :: 970.336-7204 :: kford@weldgov.com :: www.weldgov.com :: **Please note my working hours are Monday -Thursday 7:00a.m.-5:00p,m.** 1 COLORADO 40 PERA® Colorado Public Employees' Retirement Association Mailing Address: PO Box 5800, Denver, CO 80217-5800 Office Locations: 1301 Pennsylvania Street, Denver 1120 W. 122nd Avenue, Westminster 303-832-9550 • 1-800-759-PERA (7372) www.copera.org Employer Participation Agreement Colorado PERA Deferred Compensation Plan WHEREAS, in accordance with the provisions of Section 24-51-1601, C.R.S., et seq., effective July 1, 2009, the PERA Board of Trustees assumed the administration of and fiduciary responsibility for the State of Colorado Deferred Compensation Plan (also known as the State of Colorado 457 Plan and now known as the Colorado PERA 457 Plan), previously administered under part 1 of article 52 of title 24, as said part existed prior to its repeal in 2009. Under the PERA Deferred Compensation Plan document ("Plan Document") adopted by the PERA Board of Trustees, effective July 1, 2009, and amended and restated effective September 19, 2014, PERA provides tax deferred retirement benefits under Internal Revenue Code Section 457(b) and its corresponding regulations to employees of PERA employers who have become affiliated with the plan pursuant to 24-51-1602, C.R.S. Pursuant to Section 24-51-1602 (2), C.R.S., subject to the approval by PERA, PERA employers may make application to PERA to become affiliated with the PERA Deferred Compensation Plan. WHEREAS, by the signature below, Weld County Department of Public Health and Environment (hereinafter referred to as the "Employer"), which is a PERA affiliated employer, intends to become a participating employer under the Plan and allow its employees to make tax deferred contributions to the Plan. NOW THEREFORE, the undersigned has authority to sign this Agreement on behalf of the participating employer, and upon execution of this Agreement, does hereby agree to the following: 1. The undersigned Employer has received a copy of the Plan Document, as amended and restated effective September 19, 2014, and hereby adopts the Plan Document, as may be amended, as a participating employer and agrees to follow the teens of the Plan Document in its discharge of its duties as an employer and to follow policies and procedures necessary as specified by PERA or its third party administrator. 2. The Employer agrees that all deferral amounts shall be approved by PERA or its third party administrator prior to deduction. The Employer agrees that all employee elections for deferral will be made through PERA or its third party administrator, not through the Employer. 3. The Employer agrees to electronically remit in a timely manner, all contributions and other information, including but not limited to employee termination dates, as required by PERA or its third party administrator to administer the Plan. Pursuant to Section 24-51-1603(3), C.R.S., the Employer shall deliver all deferred compensation contributions to the trust fund via the third party administrator designated by PERA, within five days after the date the employees are paid. The Employer understands that pursuant to Section 24-51-1603(3), C.R.S. and Section 24-51- 401(1.7), C.R.S., interest and penalties may apply if the contributions are not remitted within five days. The Employer agrees that pursuant to Section 24-51-1603(2), C.R.S., all voluntary deferrals by a participating PERA member shall be included in the salary of such member in accordance with Section 24-51-101(42), C.R.S., for purposes of calculating member and employer contributions pursuant to the provisions of Section 24-51-401, C.R.S. 4. The Employer acknowledges that the PERA Board of Trustees is the fiduciary of the Plan and has the sole and exclusive authority to interpret the Plan and decide all claims and appeals for Plan benefits. The Employer agrees to abide by the Board's decisions on all matters involving the Plan. 5. PERA may terminate the Employer's participation in the Plan if the Employer does not administer the Employer's payroll in accordance with the Plan, if the Employer allows or facilitates operational defects in its administration of the payroll, contributions and loan repayments, or if PERA determines that it is in the best interest of the Plan participants. IN WITNESS WHEREOF, the undersigned hereby executes this Employer Participation Agreement on /°/_ effective as of/Q/ t//O Participating Employer Weld County Department of Public Health and Environment Agency # 955 Signature Name (please print) Mike Freeman Title Chair Entity Board of Weld County Commissioners Colorado Public Employees' Retirement Association Approved By: A.il McGarrit rim Exec l Director/Chief Investment Officer OCT 0 4 2023 Date 020023 -�i�� COLORADO PERA® Employer Roth Affiliation Participation Agreement WHEREAS, PERA's 401(k) and Defined Contribution Plan and Trust Document (the "PERA 401(k) Plan") and the PERA Deferred Compensation Plan (the "PERA 457 Plan" and together with the PERA 401(k) Plan, the "Plans" and each a "Plan"), offer a Roth option which permits employees to make contributions to the Plan on a tax -paid basis to a designated Roth account; WHEREAS, in accordance with section 13.10 of the PERA 401(k) Plan and section 11.7 of the PERA 457 Plan, PERA employers may elect to permit their employees to participate in the Roth portion of the Plans; and WHEREAS, Weld County Department of Public Health and Environment (agency #955), a PERA- affiliated employer ("Employer"), intends to permit employees to participate in the Roth option in the Plans. NOW THEREFORE, the undersigned has authority to sign this Agreement on behalf of Employer, and hereby agrees that: 1. Employer understands that all of Employer's employees will have the opportunity to elect Roth contributions. 2. Employer has reviewed its payroll capabilities and is able to administer Roth elections. 3. Employer is solely responsible for administering Roth contributions on its payroll. Employer, by and through its agent identified below, hereby adopts the Roth option in the Plans, effective as of /DJoZDc2 . EMPLOYER Signed: Name: Mike Freeman Title: Date: OCT 0 4 2023 COLORADO PUBLIC EMPLOYEES' RETIREMENT ASSOCIATION Signed: L&W'f'LL Name: Y C. Mc ar ity Title: Interim Executive Director/Chief Investment Officer Date: August 8, 2023 Mail: PO Box 5800, Denver, CO 80217-5800 I Offices: 1301 Pennsylvania Street, Denver 11120 W. 122nd Avenue, Westminster 303 832.9550 11.800.759. PERA 17372) I www.copera.org pZdo2c a93g New Contract Request Entity Information Entity Name* Entity ID* PUBLIC EMPLOYEE RETIREMENT @00002409 ASSOCIATION Contract Name * 2024 PERA VOLUNTARY SAVINGS PLANS FOR HEALTH DEPARTMENT AND DA'S EMPLOYEES Contract Status CTB REVIEW New Entity? Contract ID 7310 Contract Lead" MRAIMER Contract Lead Email mraimer@co.weld.co.us Parent Contract ID Requires Board Approval YES Department Project # Contract Description * HEALTH AND D.A.'S EMPLOYEES UNDER THE CO-PERA RETIREMENT PLAN CAN PARTICIPATE IN VOLUNTARY RETIREMENT SAVINGS PLANS ENHANCEMENT OPTIONS INCLUDING VOLUNTARY PERA 401(K) ROTH, PERA 457 -BEFORE TAX AND PERA 457 - ROTH OPTION. Contract Description 2 Contract Type * Department AGREEMENT HUMAN RESOURCES Amount* $0.00 Renewable* YES Automatic Renewal YES Grant County Attorney GENERAL COUNTY IGA ATTORNEY EMAIL Department Email CM- HumanResources@weld gov.com Department Head Email CM-HumanResources- DeptHead@weldgov.com County Attorney Email CM- COUNTYATTORNEY@WE LDGOV.COM Requested BOCC Agenda Due Date Date* 08/26/2023 08/30/2023 Will a work session with BOCC be required?* NO Does Contract require Purchasing Dept. to be included? NO If this is a renewal enter previous Contract ID If this is part of a MSA enter MSA Contract ID Note: the Previous Contract Number and Master Services Agreement Number should be left blank if those contracts are not in OnBase Contract Dates Effective Date Termination Notice Period Contact Information Review Date * 08/12/2024 Renewal Date* 08/28/2024 Committed Delivery Date Expiration Date Contact Info Contact Name Contact Type Contact Email Contact Phone 1 Contact Phone 2 Purchasing Purchasing Approver Purchasing Approved Date Approval Process Department Head Finance Approver Legal Counsel CHERYL PATTELLI CHERYL PATTELLI BRUCE BARKER DH Approved Date Finance Approved Date Legal Counsel Approved Date 09/28/2023 09/28/2023 09/28/2023 Final Approval BOCC Approved Tyler Ref # AG 100423 BOCC Signed Date BOCC Agenda Date 10/04/2023 Hello