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Title:
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Recommendation to approve amendments to the Washoe County 457(b) Deferred Compensation Plan Document, Appendix A - Definitions, to revise “Benefitable Compensation” to include unused accrued vacation leave, longevity pay (career incentive), and other pay designated by the Employer for conversion in accordance with applicable Employer leave-conversion procedures and Plan requirements, and to revise “Employee” to allow permanent, part-time employees, as classified by the Employer, who are regularly scheduled to work 21 or more hours per week to participate in the Plan; and to amend Sections 7.1, Distribution Events, and 7.4(b), Optional Form of Benefit, of the Washoe County 401(a) Plan Document to allow eligible participants to transfer all or a portion of their accounts to the Public Employees’ Retirement System of Nevada (NVPERS) solely to purchase or repurchase service credit, subject to applicable Plan provisions and NVPERS rules. [No fiscal impact.] Human Resources. (All Commission...
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