Phoenix Employees' Deferred Compensation Board (Referral)

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The Phoenix Employees' Deferred Compensation Board shall: 1) Establish and maintain one or more eligible deferred compensation plans or qualified defined contribution retirement plans for employees in a manner permitted by and consistent with section 401(A) and section 457 of the Internal Revenue Code of 1986, as amended. 2) Upon consultation with an independent investment advisor and in accordance with any investment policy adopted by the board, investigate and approve eligible deferred compensation plans, qualified defined contrition retirement plans and annuity plans and the investment options within those plans which give participants income tax benefits authorized by title 26, United States Code, and from which participants shall direct and control the investment of their contributions and accumulated earnings. 3) Comply with all requirements of the Internal Revenue Code applicable to governmental plans. 4) Ensure program benefits and benefits-related taxes are paid from the assets of the program. 5) Select Providers for all the services necessary or appropriate to administer plans within the program or the program, including, but not limited to, actuarial, auditing, custodial, investment, and record keeping services. The City Manager shall negotiate and execute all contracts with selected providers. Deferred Compensation Board members also serve on the City's Post Employment Health Plan (PEHP) Board per PEHP Ordinance G-5049 which requires Deferred Compensation Plan Board members to administer or oversee the City's PEHP.

Meeting Frequency
Once per month on the third Thursday at 8:30 a.m. in the Personnel Department.

Board Composition
The board shall consist of nine members as follows: Three employees of the City appointed by the Council; one employee shall be a non-public safety member of the Coalition of Phoenix City Unions; one employee shall be a member of the International Association of Firefighters Local 493; one employee shall be a member of either the Phoenix Law Enforcement Association or the Phoenix Police Sergeants and Lieutenants Association; two citizens from the general public, who have investment experience and have no rights in the program, directly or indirectly, appointed by the Council; two management employees of the City appointed by the City Manager; one management employee shall have human resources and employment benefits experience; one management employee shall have public sector finance and investment experience; the City of Phoenix Employees' Retirement Plan Administrator and the City Manager or the City Manager's designee, who shall be the Board's chair.

REQUIREMENTS

Please note: Not all Boards and Commissions have vacant seats. Meeting schedules and time commitments vary for each Board. Members are appointed by the Mayor and City Council members. If you are interested in multiple boards and commissions list your first four choices on the application. Every effort will be made to accommodate your first preference, but vacancies vary, and demand for some boards may be higher than that for others. As vacancies occur, appointments are made by the Mayor and approved by the City Council.

Some boards require residency within the city of Phoenix. Members may not serve more than two full, consecutive terms and are expected to attend all regularly scheduled and special meetings. Please contact the appropriate department for meeting schedules and locations.

Click here Boards and Commissions Application to apply now, or mail it along with a resume or biography, to;
Mayor's Office
200 W. Washington St., 11th Floor
Phoenix, AZ 85003
FAX: 602-495-5583

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