FY2021-35 Retirement Account Agreement for Employee Voluntary Retirement Contributions to the New Post-Tax OptionsTHE STATE
"ALASKA.
GOVERNOR MIKE DUNLEAVY
To: Jim Puckett
Chief Pension Officer
Department of Administration
DIVISION OF RETIREMENT AND BENEFITS
6th Floor Stale Office Building
333 Willoughby Avenue
P.O. Box 110203
Juneau, AK 99811-0203
Phone: (907) 465-4460
T II r . (800) 821-2251
Contract No. FY2021-35 0 - ree.
FAX: (907) 465-3086
Alaska.gov/drb
From: Brandon Roomsburg
Regional Senior Benefits Counselor Date: June 25, 2021
Regarding: Kodiak Island Borough
Deferred Compensation Plan Participation Agreement
Attached for signature is the Kodiak Island Borough's (borough) Deferred Compensation Plan CDCP)
participation agreement accompanied with resolution FY2021-41. The borough has been authorized for
participation by the Division's finance section and assigned DCP employer code 618.
The recommended participation date is July 1, 2021.
Sincerely,
Brandon Roocnsburg
State of Alaska
Department of Administration
P.O. Box 110203, Juneau, AK 99811-0203
Alaska Public Employees' Deferred Compensation Plan
PARTICIPATION AGREEMENT
Effective Date of Participation:
Agreement between the State of A aska (hereinafter referred to as the State) and
fla ik(hereinafter referred to as the participating employer) relating to
participation by the participating Ymployer in the Alaska Public Employees' Deferred Compensation Plan
(hereinafter referred to as the DCP) and designating the Commissioner of Administration as the Plan
Administrator (AS 39.45.020); witnesseth:
that
WHEREAS, the laws of the State provide for the DCP in Alaska Statute (AS) 39.45.010-.060, and
WHEREAS, the participating employer has adopted a resolution authorizing participation in the DCP, and
WHEREAS, a certified copy of the authorizing resolution has been filed with the State,
Now, therefore, in consideration of the mutual agreements, covenants, and provisions herein contained, the
parties make the following agreements:
A. The participating employer agrees for its part as follows:
1. Participation in the DCP will begin with the payment of employee contributions to commence
with wages paid on or after the date when an eligible employee elects to defer to the plan,
some or all of the employee's salary or wages in a manner determined by the Plan
Administrator.
2. The wages of participating employees will be reduced in accordance with AS 39.45.010 and
the terms of the DCP plan document.
3. The participating employer shall provide for pretax or post tax payroll deductions according to
the employee's election for the purposes of employee contributions to the DCP.
4. "Employees eligible to participate" means any person (and only such person), including an
officer who is employed by the Employer and whom the Employer determines in the exercise
of its sole discretion to be a common-law employee who is rendering personal service to the
Employer as a permanent employee, including non -permanent employees who will be
employed for a minimum of one year or any person elected to a term of office who receives
compensation. "Eligible employee" does not include
short-term non -permanent employees who will be employed for less than one year;
temporary, casual, or emergency employees; or
intermittent employees.
August 7, 2017
a. The participating employer unilaterally terminates the agreement by giving written
notice 90 days prior to the effective date of termination.
b. The parties mutually agree to terminate the agreement.
C. The state unilaterally terminates the agreement because of violation of a provision of this
agreement or because of statutory direction or authorization, whereupon written notice
will be given.
Approved by partici big employer:
Signature n uthmized Representative Date
IborO h I�Ii nDti Q.�'
Title
All correspondence, reports, and notices to the participating employer shall be directed to:
r—omce/ 0i'recbor^
Name
1lo h('11
Address
et� - 14OLt /
Nit, 4. AK 90615
Appr d by the State a, on behalf f the Alaska Public Employees' Deferred Compensation Plan:
C ief Pension Officer Dat
Division of Retirement and Benefits
Department of Administration
All correspondence, reports, and notices to the state shall be directed to:
Alaska Public Employees' Deferred Compensation Plan
Alaska Division of Retirement and Benefits
P.O. Box 110203
Juneau, AK 99811-0203
August 7, 2017 —3—
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Kodiak, AK 99615
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Alaska Public Employees' Deferred
Compensation Plan
Alaska Division of Retirement & Benefits
Attn: Brandon Roomsburg
PO Box 110203
Juneau, AK 99811-0203
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