Chapter 1.30
DEFERRED COMPENSATION PROGRAM
Sections:
1.30.010 Participation.
(a) Findings.
(1) The county of Chelan was formed in accordance with the Constitution of the State of Washington on March 13, 1899; and
(2) The Department of Retirement Systems, Deferred Compensation Program in accordance with RCW 41.50.770 administers the deferred compensation plan for the employees of the state of Washington as outlined in Chapter 415-501 WAC; and
(3) RCW 41.50.770 permits counties, municipalities, and other political subdivisions to participate in the State of Washington Employee’s Deferred Compensation Plan; and
(4) Chelan County has reviewed the state plan and agrees to accept all terms and conditions of the state plan as established and as hereafter amended; and
(5) The county understands and agrees that all monies deferred by its employees are held in trust by the Washington State Investment Board for the exclusive benefit of program participants and eligible beneficiaries.
(b) Participation. The board of Chelan County commissioners requests approval by the Department of Retirement Systems, Deferred Compensation Program to participate in the aforementioned deferred compensation plan for the employees of Chelan County, subject to the requirements of RCW 41.50.770 and Chapter 415-501 WAC. (Res. 2006-130, 10/2/06).