April 27, 1990
TO: PENSION COMMITTEE NO. 9-90
RE: RESPONSE FROM VENTURA COUNTY CONCERNING HOLD-HARMLESS
AGREEMENT
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Enclosed is a copy of the letter the Institute received
today from the Ventura County, California, Superintendent of
Schools Office in response to our letter concerning Ventura
County's hold-harmless and minimum exclusion allowance
calculation requirements for 403(b) accounts. (See Memorandum to
Pension Committee No. 5-90 dated March 13, 1990)
The letter states that Ventura County will not modify its
403(b) agreements at this time. However, it appears that each
district Board of Education in Ventura County may alter or modify
its 403(b) custodial agreement documents in its discretion.
Please contact me if you are aware of any particular
California public school systems which have been requiring hold-
harmless agreements on a county-wide basis so that we can focus
our efforts toward affecting change in these counties.
We will keep you informed of further developments.
W. Richard Mason
Assistant General Counsel
Attachment