Reso 1101-12/1999RESOLUTION NO. 1101
RESOLUTION OF THE BOARD OF DIRECTORS OF THE
VALLECITOS WATER DISTRICT APPROVING ADOPTION OF CALIFORNIA
PUBLIC EMPLOYEES' DEFERRED COMPENSATION PLAN
WHEREAS, the Vallecitos Water District ("District") Board of Directors desires to
establish an additional deferred compensation plan for the benefit of its employees; and
WHEREAS, the Board of Administration (the "Board") of the California Public
Employees' Retirement System ("CaIPERS") has established the California Public
Employees Deferred Compensation Plan (the "CaIPERS Plan") which may be adopted by
a governmental employer the employees of which are public employees; and
WHEREAS, the District believes that the CaIPERS Plan and the investment options
available thereunder will provide valuable benefits to its employees; and
WHEREAS, the Board has appointed State Street Bank and Trust Company ("State
Street") to perform administrative services under the PERS Plan and to act as the Board's
agent in all matters relating to the administration of the CaIPERS Plan;
NOW, THEREFORE, BE IT RESOLVED that Vallecitos Water District adopts the
CaIPERS Plan for the benefit of its employees and authorizes and directs the Treasurer to
execute the attached adoption agreement on behalf of Vallecitos Water District and to
provide State Street with such information and cooperation as may be needed on an
ongoing basis in the administration of the CaIPERS plan. A copy of this resolution, the
agreement, and any attachments thereto shall be on file in the office of Director of Finance.
PASSED AND ADOPTED at a regular meeting of the Board of Directors of Vallecitos
Water District this 15th day of December, 1999, by the following vote:
AYES:
NOES:
ABSTAIN:
ABSENT:
ATTEST:
CRUZ, DAVY, FERGUSON, HANNAN, MASON
William W. Rucker, Secretary
Board of Directors
Vallecitos Water District
and Cruz, Preside
oard of Directors
Vallecitos Water Distric
CALPERS 457 PROGRAM
California Public Employees' Retirement System
Ca1PERS 457 Deferred Coraprnvarion Program
EMPLOYER ADOPTION AGREEMENT
By executing this Agreement, the employer identified below (the "Employer") adopts the California Public Employees' Deferred Compensation
Plan (the "Plan") for the benefit of its employees. The Employer further agrees and represents as follows:
1. The Employer is a political subdivision of the State of California eligible to adopt the Plan for the benefit of its employees.
2. The Employer has duly adopted a resolution (copy attached) or taken such other official action as required for its lawful adoption and
implementation of this Plan and has authorized the undersigned CO execute this agreement on behalf of the Employer.
3. The Employer has been furnished with and reviewed a copy of the Plan document which explainc the rights and obligations of the
Employer under the Plan, as well as the rights and options available to the Employer's employees under the Plan; the Employer agrees
to follow the terms of the Plan document, which are incorporated herein by reference.
4. The Employer understands and agrees that all amounts deferred under the Plan are to be invested in the Public Employees' Deferred
Comprncarion Fund (the "Fund"), an investment entity established to hold amounts deferred under the Plan, and that the Employer
shall have no right to sell, redeem, or otherwise liquidate its investments in the Fund, except as provided in Article 9 of the Plan.
5. The Employer understands that, except for certain responsibilities delegated to the Employer under the Plan, the administration of the
Plan and Fund is subject to the exclusive control of the Board of Administration of the Public Employees' Retirement System (the
"Board"). The Employer further understands that the board has appointed State Street Bank and Trust Company and State Street Bank
and Trust Company of California, N.A. (collectively, "State Street") to perform administrative services under the Plan and to act as the
Board's agent in all matters relating to the administration of the Plan; the Employer agrees to deal directly with State Street (or any
successor agent duly appointed by the Board) on all matters relating to is participation in the Plan and to cooperate with State Street
in the dissemination of Plan information to the Employer's employees.
6. The information set forth on the attached specifications page is complete and accurate and may be relied upon by the Board and State
Street in the administration of the Plan on behalf of the Employer and its employees, unless and until the Employer has provided State
Street with a written modification of such specifications.
7. The Employer has been furnished with a copy of a manual that describes the procedures to be followed by the Employer in the
administration of the Plan for its employees, and the Employer agrees to adhere to the procedures set forth in that manual, and in any
revisions thereof or procedural notices that are hereafter furnished, to the Employer.
8. The Employer agrees to make the Plan available to its employees and otherwise to abide by this Agreement commencing on the
effective date shown on the attached specifications page this Agreement shall remain in full force and effect unless terminated by the
Employer or the Board upon sixty (60) days prior written notice.
(Name of Employer)
By
(Title)
Date:
VALLECITOS WATER DISTRICT
MARY CLINKSCALES
ASSISTANT GENERAL MANAGER
47,
DECEMBER 15, 1999
Accepted by State Street Bank and Trust Company on behalf of the Board of Administration of the Public Employees' Retirement System
By
Date: Wanes:
GIPEAS Ot5.719a