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BC 1986 04 07
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BC 1986 04 07
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4/30/2002 3:18:16 PM
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Meeting Minutes
Doc Type
Minutes
Meeting Minutes - Date
4/7/1986
Board
Board of Commissioners
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424 <br /> <br />NOW, THEREFORE, be it resolved by the Board of Commissioners in regular <br />session, <br /> <br />That the County of Cabarrus hereby elects to participate in the <br />Supplemental Retirement Income Plan of North Carolina for law <br />enforcement officers and/or the general employees. <br /> <br />That the County of Cabarrus hereby agrees to comply with all the <br />provisions of the Plan and the operating procedures of the Adminis- <br />trator of the Plan. <br /> <br />That the County Manager is hereby ordered and directed to make <br />application to the Board of Trustees of the Supplemental Retirement <br />Income Plan of North Carolina for the enrollment of this Unit and <br />its employees in said Plan. <br /> <br />Upon motion of Commissioner Marcelle Upright and seconded by Commis- <br />sioner Kenneth Payne, the above resolution was introduced and approved <br />on the 7th day of April, 1986. <br /> <br />Date April 7~ 1986 <br /> <br />/s/ Frankie F. Small <br /> <br />Clerk to the Board <br /> <br />SUPPLEMENTAL RETIREMENT INCOME PLAN OF NORTH CAROLINA <br /> EMPLOYER - ADMINISTRATOR <br /> AGREEMENT <br /> <br /> THIS AGREEMENT, made on this 7th day of April, 1986 between the <br />County of Cabarrus (hereinafter called the employer) and BB&T State <br />401(k) Services (hereinafter called Administrator) <br /> <br />WITNESSETH; <br /> <br /> WHEREAS, the State of North Carolina has adopted the Supplemental <br />Retirement Income Plan of North Carolina (hereinafter called the <br />"Plan"), pursuant to which the State of North Carolina and its depart- <br />ments, agencies, and instrumentalities are authorized to provide a <br />supplemental retirement plan established in conformance with Section <br />401(k) of the Internal Revenue Code of 1954 as amended, and <br /> <br /> WHEREAS, the State's Retirement Committee and the State's Retire- <br />ment and Health Benefits Division of the State Treasurer has selected <br />Branch Banking and Trust Company (BB&T) of Wilson to be Administrator of <br />the Plan. <br /> <br /> NOW, THEREFORE, in consideration of the mutual covenants and <br />promises contained herein below, the receipt and sufficiency of which <br />are hereby acknowledged, the County of Cabarrus (employer) and BB&T <br />(administrator) hereby agree as follows: <br /> <br /> ARTICLE I <br />Duties and Responsibilities of the EMPLOYER <br /> <br />Make the decision to implement the Supplemental Retirement Income <br />Plan of North Carolina. When a State Department, Agency, Division <br />or Unit makes the decision to do so, the Secretary of the Depart- <br />ment or appropriate officer should advise BB&T of this decision in <br />writing. A local government entity can make the decision by having <br />the commissioners or aldermen adopt a resolution to provide the <br />Plan to its employees. When this has been done, they should advise <br />BB&T of their decision in writing. <br />Designate a coordinator for your unit to work with the BB&T Enroll- <br />ment Counselor in selecting enrollment dates, the number of meet- <br />ings needed, employee notification of meetings that will be re- <br />quired, and other decisions necessary to hold enrollment meetings. <br />Provide time for the employee to attend an enrollment meeting. The <br />Employer agrees that the meetings will be attended by employees <br />representing all employees' pay grades. This will be accomplished <br />even if mandatory attendance is required. Attendance is necessary <br />so that all employees can be aware of their opportunity for the <br /> <br /> <br />
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