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COUNTY OF PIMEMORANDUMacerHUMAN RESOURCE STO:Honorable Board of SupervisorsFROM:Lori Walsh, Human Resources DirectorSUBJECT:Deferred Compensation Plan AmendmentDATE: November 14, 2017ACTION REQUESTEDAuthorize
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How to fill out deferred compensation plan amendment

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How to fill out deferred compensation plan amendment

01
To fill out a deferred compensation plan amendment, follow these steps:
02
Start by reading the existing deferred compensation plan and understanding its terms and provisions.
03
Identify the specific section or sections of the plan that require amendment.
04
Draft the amendment language, clearly stating the changes or additions you wish to make.
05
Consult with legal counsel or a qualified professional to ensure compliance with applicable laws and regulations.
06
Review the drafted amendment language to ensure accuracy and clarity.
07
Obtain the necessary signatures or authorizations required for the amendment to be valid.
08
Keep a copy of the amended plan for future reference and distribution to plan participants, if applicable.

Who needs deferred compensation plan amendment?

01
Any organization or employer that has a deferred compensation plan in place may need a deferred compensation plan amendment.
02
Additionally, individuals responsible for managing or administering the plan, such as HR personnel, benefits administrators, or plan trustees, may also require a deferred compensation plan amendment.
03
It is important to consult with legal counsel or a qualified professional to determine if a specific situation calls for a plan amendment.
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Deferred compensation plan amendment refers to any changes or modifications made to a deferred compensation plan, such as alterations to the plan document or the terms of the plan.
Employers or plan administrators who sponsor a deferred compensation plan are required to file a deferred compensation plan amendment.
To fill out a deferred compensation plan amendment, one must carefully review the existing plan document, make necessary changes or updates, and file the amendment with the appropriate regulatory authorities.
The purpose of a deferred compensation plan amendment is to ensure that the plan remains compliant with current laws and regulations, and to make any necessary adjustments to meet the needs of the plan participants and sponsors.
The information that must be reported on a deferred compensation plan amendment includes the specific changes made to the plan, the effective date of the changes, and any other relevant details about the amendments.
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