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Board approves 401(k) Plan Committee formalization.

Text

Whereas, the ICANN Retirement Savings Plan (Plan) was introduced in 2000 for United States based staff.

Whereas, in light of the increasing number of participants and resulting assets of the Plan, best practices suggest that a plan committee be formed to manage plan administration, choosing plan vendors, identifying investment options from which employees can select, and other fiduciary responsibilities.

Whereas, the BFC has recommended that the Board approve the formalization of the 401(k) Plan Committee and authorize the CEO to staff and oversee the Plan Committee activities.

RESOLVED (2011.04.21.07), the Board approves the formalization of the 401(k) Plan Committee and authorizes the CEO to staff and oversee the Plan Committee activities.

Implementation Actions

  •   Staff a 401(k) Plan Committee
    • Entity Responsible: CEO
    • Due Date: None stated
    • Completion Date: May 2011

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