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Consent-General Government # 16.
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| Board of Supervisors |
Financial Services |
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| Subject |
| Adopt revisions to the Yolo County Deferred Compensation Committee Charter to allow for alternate members. (No general fund impact) (Rinde/Pistochini) |
| Recommended Action |
| Adopt revisions to the Yolo County Deferred Compensation Committee Charter to allow the Committee to have alternate members. |
| Strategic Plan Goal(s) |
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In Support of All Goals (Internal Departments Only) |
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| Reason for Recommended Action/Background |
The Yolo County Deferred Compensation Committee is responsible for the general oversight and administration of the County's 457 and 401(a) deferred compensation plans. The Committee consists of nine members who are both current and retired Yolo County employees.
The Committee recently had several vacancies occurring in the ordinary course of events. While soliciting for new volunteers, often the Committee was confronted with more interest than filling vacant seats. By establishing alternates, the committee will be able to 1) include more volunteers, 2) provide a glide path to introduce alternates to the technical concepts of deferred compensation administration and 3) ensures quorum can be maintained. The Committee is recommending establishing two alternates. All the proposed revisions are contained in Section 2 of the charter.
The Committee approved the proposed revisions on June 11, 2021 and is recommending the Board of Supervisors adopt these changes. |
| Collaborations (including Board advisory groups and external partner agencies) |
| The Committee consists of the Director of Human Resources, Chief Financial Officer, one retiree, and employees from the departments of County Counsel, District Attorney, Health & Human Services, Innovation & Technology Services, and Sheriff departments. |
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| Fiscal Impact |
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| Source of Funds for this Expenditure |
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Explanation (Expenditure and/or Revenue) |
| Further explanation as needed: |
| There is no financial impact associated with adopting the proposed revisions. |
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