File #: 13-00923    Version: 1
Type: Agenda Item Status: Passed
File created: In control: BOARD OF SUPERVISORS
On agenda: 12/10/2013 Final action: 12/10/2013
Title: Consider recommendations regarding IRS Requirements for Voluntary Correction Program, as follows: a) Adopt a Resolution recommending regulations for adoption by the Board of Retirement in order to retroactively amend the Santa Barbara County Employees' Retirement System (SBCERS) Plan to comply with the applicable requirements of federal law; and b) Authorize staff to work with SBCERS and file a determination letter request with the Internal Revenue Service for the SBCERS Plan and the 401(h) Plan in Cycle E for governmental plans.
Sponsors: COUNTY EXECUTIVE OFFICE
Attachments: 1. Board Letter, 2. IRS VCP Determination ATTCHMENT A, 3. Regulations to Achieve Compliance with IRS Code for SBCERS
Title
Consider recommendations regarding IRS Requirements for Voluntary Correction Program, as follows:
 
a) Adopt a Resolution recommending regulations for adoption by the Board of Retirement in order to retroactively amend the Santa Barbara County Employees' Retirement System (SBCERS) Plan to comply with the applicable requirements of federal law; and
 
b) Authorize staff to work with SBCERS and file a determination letter request with the Internal Revenue Service for the SBCERS Plan and the 401(h) Plan in Cycle E for governmental plans.