Title
DEFERRED COMPENSATION PLAN FOR COUNTY EMPLOYEES (PEA-39)
Description
The Committee is in receipt of the following:
1. County Communication 17-295, from Councilmember Stacy Crivello, transmitting a proposed resolution entitled “URGING THE MAYOR TO PROVIDE FOR AN ADDITIONAL DEFERRED COMPENSATION PLAN FOR COUNTY EMPLOYEES.” The purpose of the proposed resolution is to urge the Mayor to provide for an additional deferred compensation plan for County employees, allowing for an alternative fixed annuity option to save for retirement on a tax-deferred basis.
2. Correspondence dated September 7, 2017, from the Department of the Corporation Counsel, transmitting a proposed resolution entitled “AUTHORIZING THE MAYOR TO TERMINATE THE AGREEMENT WITH THE STATE OF HAWAII ISLAND SAVINGS PLAN AND PROCURE FOR A DEFERRED COMPENSATION PLAN FOR THE COUNTY OF MAUI.” The purpose of the proposed resolution is to urge the Mayor to terminate the agreement with the State of Hawaii Island Savings Plan and procure for a new deferred compensation plan for the County of Maui through the appropriate request for proposals process.
Status
The Committee may consider whether to recommend adoption of the proposed resolutions, with or without revisions. The Committee may also consider the filing of correspondence and other related action.