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March 25, 1986 <br /> <br /> Mr. Charles McGinnis <br /> County Manager <br /> Cabarrus County <br /> P.O. Box 707 <br /> Concord, North Carolina 28025 <br /> <br /> RE: SUPPLEMENTAL RETIREMENT INCOME PLAN OF NORTH CAROLINA <br /> <br /> Dear Mr. McGinnis: <br /> <br /> We understand that Mr. Blair Bennett has been working with <br /> our Raleigh headquarters to begin voluntary contributions by <br /> law enforcement officers to the State 401(k) Plan in late <br /> April, 1986. TO assure that you are aware of our role as <br /> administrator of this plan as well as the employer's re- <br /> sponsibi.lities with regard to reporting payroll deduction <br /> information ~:.~ tis necessary:~tha~:~-..:: <br /> <br /> 1. Formal'consent. be:obtained~:ffom~¥o~r-:~oc~-~--~ :. <br />· governing board.--For-you~gnvenience~-we <br /> have enclosed a Resolutio~ for board adoption. <br /> Following board action, the enclosed Resolution <br /> should be completed and returned to BB&T. <br /> <br /> 2. Following board approval, the enclosed Employer/ <br /> Admfnistrator Agreement should be executed and <br /> submitted to BB&T. <br /> <br /> Please be advised that we cannot invest any employer and/or <br /> employee voluntary contributions prior to receiving the <br /> agreement and resolution. Further, if you have forwarded <br /> funds to BB&T, please be advised that the funds will remain <br /> in a suspense account which produces no earnings for the <br /> employer, the employee, or BB&T until receipt of the agree- <br /> ment and resolution, or'until such time as we receive other <br /> instructions. <br /> <br /> We understand that you may have questions concerning the <br /> enclosed documents, and we will be pleased to meet with you <br /> at your convenience. Your personal involvement in this <br /> <br /> <br />