RESOLUTiON NO. 2002-18

(AMENDING RESOLUTION No. 1981-08, AUTHORIZING

COUNTY EMPLOYEES TO UTILIZE VARIOUS

PRIVATE INSURANCE COMPANIES FOR THEIR

DEFERRED COMPENSATION PROGRAMS)

WHEREAS, in Resolution 1981-08, the County Commissioners resolved to allow their employees to contract with Hartford Variable Annuity Life Insurance Company to provide a Deferred Compensation Plan; and

WHEREAS, since that time, several other insurance companies have established competitive Deferred Compensation Plans; and

WHEREAS, the HARTFORD VARIABLE ANNUITY LIFE INSURANCE

COMPANY and the NATIONWIDE VARIABLE ANNUITY LIFE INSURANCE and the VALIC VARIABLE ANNUITY LIFE INSURANCE have established Master Deferred Compensation Programs permitting counties and their employees to enjoy the advantages of this program; and

WHEREAS, the three above named companies, as Plan Administrators of their respective investment vehicles under Section 457 of the Internal Revenue Code, must agree to hold harmless and indemnify the County, its appointed and elected officials and participating employees from any loss resulting from these three sanctioned companies or its Agents failure to perform its duties and services, or performing the same imprudently.

NOW, THEREFORE, the Board of County Commissioners of Skamania County, HEREBY RESOLVES TO adopt the above three named companies’ programs, and hereby amends the establishment of the County of Skamania Deferred Compensation Plan for the voluntary participation of all eligible County employees, and elected officials and to increase the number of Deferred Compensation Plan options for all County employees, and elected officials accordingly.

BE IT FURTHER RESOLVED that the HARTFORD VARIABLE ANNUITY LIFE INSURANCE COMPANY and the NATIONWIDE VARIABLE ANNUITY LIFE INSURANCE and the VALIC VARIABLE ANNUITY LIFE INSURANCE are hereby authorized to execute individual voluntary participation agreements, which must include provisions to indemnify the County and its public officials, with each employee requesting said Company to act as the “Administrator” of the Plan representing the County, and to execute such voluntary agreements and contracts as are necessary to implement the program.

BE IT FINALLY RESOLVED that other than the incidental expenses of collecting and disbursing of the employee’s voluntary deferrals and other minor administrative matters, these programs will not cost the County any money.