School District of Clay County
Green Cove Springs, Florida
Teacher Inservice Center - Fleming Island High School 2233 Village Square Parkway Hearings for Special Actions regarding Students - 6:15 p.m.
September 17, 2015 - Regular Meeting
Agenda Item #4


Item Title
C-2 Resolution for disbursement of 457 Deferred Compensation Plan funds

Issue/Rationale

A Resolution of the School Board of Clay County, directing that the proceeds of the 457 Deferred Compensation Plan with Ohio State Life Insurance Companies being presently held by the Clay County School Board Finance Department in the amount of $35,485.27 be disbursed to the Estate of Glenn M. Sonnenberg.

Glenn A. Sonnenberg, a now deceased former employee of the Clay County School Board and an employee/owner of a 457 Deferred Compensation Plan with Ohio State Life Insurance Companies, never amended the account to leave his estate as the sole beneficiary of these proceeds.  The Clay County School Board is now holding a check in the amount of $35,485.27 that is rightly the property of the estate of Glenn M. Sonnenberg.



Recommended Action
At the Board's discretion

Financial Impact
$35,485.27 of funds now being held by the Board in trust for the Estate of Glenn M. Sonnenberg

Submitted By
Dan Sikes, Interim School Board Attorney


Attachment:  09-17-15 Resolution 457 Deferred Comp Plan.pdf