e|agenda.NET Sarasota County Schools

THE SCHOOL BOARD OF SARASOTA COUNTY, FLORIDA Landings Administrative Complex 1980 Landings Blvd. 3:00 P. M.

November 17, 2009 Board Meeting Agenda Item #31 Title TERMINATION OF THE EXCLUSIVE BENEFIT GOVERNMENTAL 401 (A) NONTRUSTEED RETIREMENT PLAN Description The Plan was established by the School Board on March 19, 1996, for the exclusive benefit of senior management that desired not to participate in the Florida Retirement System traditional pension plan.  The existence of other tax deferred pension alternatives has rendered the plan obsolete and unnecessary. Recommendation That the adopting Resolution and Plan Amendment attesting to the termination of the Plan be approved and executed. Contact CORCORAN & PALMER Financial Impact N/A Attachment:  Terminate 401a Plan_VALIC.pdf Attachment:  NonERISA 401(a) Plan Termination.pdf