DATE: December 9, 2025
TO: Board of Supervisors
SUBMITTED BY: Hollis Magill, Director of Human Resources
SUBJECT: Restate the County of Fresno 401(a) Defined Contribution Plan
RECOMMENDED ACTION(S):
TITLE
1. Adopt a Resolution restating the County of Fresno 401(a) Defined Contribution Plan; and
2. Approve and authorize the Chairman to execute a Nonstandardized Governmental Profit Sharing/401(k) Plan Adoption Agreement to restate the County of Fresno 401(a) Defined Contribution Plan.
REPORT
There is no Net County Cost associated with the recommended actions. Collectively, the recommended actions will amend the County of Fresno 401(a) Defined Contribution Plan (the "401(a) Plan") to 1) define which employee groups are eligible to participate in the 401(a) Plan; 2) clarify that employees are not eligible to participate in the 401(a) Plan until they start making contributions to their County of Fresno 457(b) Deferred Compensation Plan (the "457(b) Plan") account; 3) remove the option to make employer non-matching contributions, including paid leave conversions; and 4) raise the threshold for involuntary cash-out of separated employee accounts from $1,000 to $5,000. This item is countywide.
ALTERNATIVE ACTION(S):
Your Board may choose not to raise the threshold for involuntary cash-out of separated employee accounts from $1,000 to $5,000. There is no alternative to restating the 401(a) Plan, as this action is required for the County to use Nationwide Retirement Solutions' ("Nationwide") Pre-Approved Governmental Defined Contribution Plan | Basic Plan Document for the County 401(a) Plan. There is no alternative to updating the eligibility and County matching contribution actions, as the Board of Supervisors has already approved changes to both the eligible employee groups and the employer matching amounts. There is no alternative to the participation timing and non-matching contribution provisions, as they are required to bring the 401(a) Plan Document in line w...
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