FROM: Barbara Hannah, Chief Counsel
SUBJECT: Benefits Policy No. 035 (Deposits Into Income Only (Miller) Trusts)
RECOMMENDATION:
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Approve and adopt updates to Benefits Policy No. 035 (Deposits Into Income Only (Miller) Trusts).
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BACKGROUND:
General Policy No. 005 involves the periodic review of Board Policies and indicates that the Administrative Committee shall review Benefit policies every three years.
Pursuant to General Policy No. 005, staff has conducted a review of Benefits Policy No. 035 (Deposits Into Income Only (Miller) Trusts) and has found it consistent with current practice. Staff is therefore recommending renewal of Benefits Policy No. 035 (Deposits Into Income Only (Miller) Trusts) without substantive change.
COMMITTEE REVIEW:
This item was reviewed by the Administrative Committee at its November 21, 2024 meeting, and recommends Board approval with a 3-0 vote. Committee Members Hatch and Rowe were absent. Trustee Stafford participated in their absence.
BUDGET IMPACT:
None.
STRATEGIC PLANNING GOAL/OBJECTIVE:
Operational Excellence & Efficiency
STAFF CONTACT:
Barbara Hannah
ATTACHMENTS:
Exhibit A: Benefits Policy No. 035 (Deposits Into Income Only (Miller) Trusts)