RESOLUTION NO. _____________

BOARD OF SUPERVISORS, COUNTY OF SAN MATEO, STATE OF CALIFORNIA

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RESOLUTION AMENDING THE COUNTY’S DEFERRED COMPENSATION PLAN DOCUMENT TO COMPLY WITH NEW FEDERAL REGULATIONS AND AUTHORIZING THE EPS DIRECTOR TO IMPLEMENT FUTURE CHANGES TO THE COUNTYS DEFERRED COMPENSATION PLAN DOCUMENT AND INVESTMENT POLICY UPON EXTERNAL ADMINISTRATORS, INTERNAL DEFERRED COMPENSATION COMMITTEE AND COUNTY COUNSEL APPROVAL.

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RESOLVED, by the Board of Supervisors of the County of San Mateo, State of California, that

WHEREAS, new federal regulations require revisions to the County’s Deferred Compensation Plan Document; and

WHEREAS, ongoing legislative and regulatory changes are likely to occur which require ongoing revisions to the County’s Deferred Compensation Plan Document and Investment Policy, and such changes are reviewed by the County’s two Deferred Compensation Administrators, as well as the Deferred Compensation Committee and Legal Counsel, to assure their compliance with mandated changes; and

WHEREAS, the labor-management Deferred Compensation Committee recommends that the Chair of the Deferred Compensation Committee (the EPS Director) be authorized to approve such mandated amendments after review by others.

NOW, THEREFORE, IT IS HEREBY DETERMINED AND ORDERED that the Board of Supervisors approves the amendment to the County’s Deferred Compensation Plan effective November 1, 2004 and authorizes the Chair of the Deferred Compensation Committee to approve future mandated legislative and regulatory changes to both the Deferred Compensation Plan Document and the Investment Policy upon approval by Legal Counsel.

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