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NATIONAL ASSOCIATION OF COUNTIES DEFERRED COMPENSATION PROGRAM MEMBER COUNTY ADMINISTRATIVE AGREEMENT This Agreement is executed this . day of _, 19 , by and between NACoServlces, a subsidiary of the National Association of Counties (NACo), the County of (Member County), and Public Employees Benefit Services Corporation (PEBSCO). WHEREAS, NACo endomes and NACoServices sponsors a prototype deferred compensation ~rogram (Program) pursuant to Section 457 of the internal Revenue Code of 1986, as amended, for the benefit of NACo's Member Counties or other entities approved by NACo's President; and WHEREAS, the Member County recognizes that such tax deferred savings benefits as may be derived from adoption of a deferrsd compensation plan (Plan) under the Program will act as incentives for employees to voluntarily set aside and invest podions of their current income to meet their future financial requirements and supplement their retirement income; and WHEREAS, the Member County recognizes that through the adoption of a Plan under the Program, all such regulatory, operational, administrative, and other Plan management respo~sibilities are assumed by NACoServices on behalf of the Member County, in accordance with the Program document, and certain responsibilities have been and may be delegated by NACoServJces, to the Program Administrator; ahd WHEREAS, the Member County recognizes the important contribution of NACoServices' technical expertise in the design, implementation, and administration of a national Program established and administered in compliance with all applicable regulatory authorities; and WHEREAS, the Member County recognizes the advantages and economies of scale secured by the mass purchasing leverage of NACoServlces and NACo's Member Counties through a comprehensive national bid selection analysis; and WHEREAS, the Member County recognizes the benefit of NACoServices' making arrangements on behalf of Member Counties for a functional administrative system fo administer the Program; and · WHEREAS, the Member County has enacted the necessary resolution/court order to adopt the NACo Deferred Compensation Program and this Member County Administrative Agreement and to establish its Plan fcr ils employees. NOW, THEREFORE, in consideration of the premises set forth hereinabove, and the promises contained hereinafter, the parties agree as follows: I. THE PROGRAM A. NACo endorses a prototype Section 457 Program developed in cocperation with NACoServices and PEBSCO, a third party administrator, which permits the Member County and its employees to enjoy the advantages derived from Section 457 of the Internal Revenue Code, as amended. B. The Program is intended to assist the Member County in providing an increased measure of financial security to/ts employees by providing for additional retirement income through the deferral of before-tax dollars and the reduction of current income tax liability. C. Plans adopted pursuant to the Program will be provided at no cost to the Member County other than incidental expense related to payroll deductions. II. REGULATORY CONSIDERATIONS PEBSCO has represented and warranted to NACoServices that the Program and the Plans adopted thereunder meet all necessary criteria for approval by all federal and state regulatory authorities governing such programs. II1. COMPETITIVE BID PROCESS The Program makes available to the Member County a third pady administrator and Investment and Insurance products which aa a result of a careful evaluation of administrative abilities and experience, and the combination of cosls, benefits, and services, provide a quality de;~erred compensation program. National bid selection processes for these administrative and investment services were performed by NACoServices. IV. PROGRAM ADMINISTRATOR NACo and NACoSerHces have agreed to sponsof ttie Program in its present form, and have selected and exclusively contracted with an inGependent third party administrator, PEBSCO, qualified to fulfill the responsibility for all adminisfrative requirements necessary for the successful operation of the Program. The Member County hereby accepts PEBSCO to act as Program Adrninistretor in fulfilling the administrative and marketing requirements of its Plan and the Program.