Title
a. Approve and adopt the proposed amended bylaws of the Monterey County Deferred Compensation Administrative Committee.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
Approve and adopt the proposed amended bylaws of the Monterey County Deferred Compensation Administrative Committee.
SUMMARY:
The Monterey County Deferred Compensation Administrative Committee (Committee) oversees the operations and administration of the Monterey County 457(b) Deferred Compensation Plan (457 Plan) and is governed by the Bylaws of the Committee (Attachment A). During the February 15, 2023 quarterly committee meeting, the Committee approved draft amendments to the Bylaws (Attachment B) and recommends that the Board of Supervisors approve and adopt the amended bylaws.
DISCUSSION:
In November 2022, the Committee formed an ad-hoc committee to review and make recommendations to update the bylaws related to Section 6 Committee Members. Committee members were comprised of nine voting members, one of which was a representative of Management Council. In January 2022, County Employee Management Association (CEMA) was officially recognized as the union representative for Unit X employees and in December 2022, Management Council officially disbanded. With this change, it became necessary to update the bylaws in order to appropriately designate committee members. The ad-hoc committee has recommended keeping the same number of members and increasing union representatives from two to three. Additionally, in order to ensure active committee participation by union representatives, the committee recommends union representation be determined by offering committee seats to the three largest unions and then extending to other union groups, as necessary, in descending order (by largest number of represented employees) in the event that representation is waived, or the union group is non-responsive. In addition to this change the Committee has made several other non-sub...
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