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HomeMy WebLinkAboutC20-233 Colorado Retirement Association CRA Deferred Compensation Plan and Trust Agreement Participation Agreement – January 1, 2020 1 COLORADO RETIREMENT ASSOCIATION DEFERRED COMPENSATION PLAN PARTICIPATION AGREEMENT Association Member / Participating Employer: Association Member Original Participation Date : Participation Agreement Effective Date: Prior Participation Agreement Date: Please indicate the effective date of the last Participation Agreement PREAMBLE I. AGREEMENT. By this Agreement, by and between Colorado Retirement Association (“Association”) and the Association Member specified in this Participation Agreement (“Agreement”), the Association Member adopts as a Participating Employer the Colorado Retirement Association Deferred Compensation Plan and Trust Agreement (the “Plan”), as amended and restated effective January 1, 2020, and as further amended or supplemented from time to time, subject to the modifications set forth in this Agreement. This Agreement amends and supersedes any previous Participation Agreement made by and between the Association Member and the Association. II. ADOPTION OF THE PLAN. The Association Member adopts the Plan as a Participating Employer pursuant to the terms of the Plan and this Participation Agreement, effective as of the Participation Agreement Effective Date. The Participating Employer’s participation in the Plan is conditioned on the timely payment by the Participating Employer of its proportional share of contributions under the Plan, and in the case of contributions deducted from a Participant’s Compensation, payment will be transmitted to the Trust as soon as practicable after such amounts would otherwise have been paid to the Participant. III. REVIEW OF THE PLAN. The Participating Employer has reviewed the Plan, and in particular Article 12 of the Plan. The Participating Employer has consulted, or had opportunity to consult, with its legal and tax advisors with reference to the Plan and this Participation Agreement. IV. APPROVAL OF PLAN TRUSTEE AND ADMINISTRATOR. The Participating Employer approves and confirms the Trustee and Administrator designated by the Association to serve in each such capacities. V. ASSOCIATION AS AGENT. The Participating Employer irrevocably designates the Association as its agent as set forth in Article 12 of the Plan addressing Participating Employers for all purposes of the Plan, and authorizes the Association, on behalf of the Participating Employer, to perform the specific acts and to exercise the specific powers granted under the Plan. The Association Eagle County Government July 1, 1968 June 1, 2020 September 1, 2018 DocuSign Envelope ID: 7EB69174-3BB2-474F-93D3-DE4E8F5DF8B1 C20-233 CRA Deferred Compensation Plan and Trust Agreement Participation Agreement – January 1, 2020 2 or its designee shall have authority to make any and all necessary rules or regulations, binding upon the Participating Employer and its Employees, to effectuate the purpose of the Plan. VI.PARTICIPANT AND PARTICIPATING EMPLOYER CONTRIBUTIONS. All contributions made by the Participants and Participating Employer under the Plan and this Participation Agreement shall be determined separately by each Participating Employer and shall be allocated only among the eligible Participants of the Participating Employer making the contribution. * * * * * * * * PARTICIPATING EMPLOYER ELECTIONS (Section numbers below correspond to sections of the Plan.) 2.2(d) DESIGNATED ROTH DEFERRALS. [Specify one option only.] Designated Roth Deferrals are permitted. Designated Roth Deferrals are not permitted. 2.11 EMPLOYER CONTRIBUTIONS. [Specify one option only.] The Participating Employer elects not to make Employer Contributions. The Participating Employer elects to make Employer Contributions for Eligible Employees, per the Employer 457 Contribution Policy. 6.1 LOANS TO ELIGIBLE BORROWERS. [Specify one option only.] Participant loans are not permitted. Participant loans are permitted in accordance with Article 6 of the Plan and loan procedures adopted by the Association. * * * * * * * * DocuSign Envelope ID: 7EB69174-3BB2-474F-93D3-DE4E8F5DF8B1 CRA Deferred Compensation Plan and Trust Agreement Participation Agreement – January 1, 2020 3 The Participating Employer and the Colorado Retirement Association have executed this Participation Agreement and have accepted its terms. Dated this ______________________________________ Participating Employer By: ________________________________________ Title: ______________________________________ Dated this COLORADO RETIREMENT ASSOCIATION Plan Sponsor By: ________________________________________ Title: ______________________________________ 14004943_v2 Eagle County Government CRA Executive Director _____________________ ___________________ DocuSign Envelope ID: 7EB69174-3BB2-474F-93D3-DE4E8F5DF8B1 County Manager 6/25/2020 6/25/2020