Whereas, the Fresno County EOC (�Employer�) wishes to make

							                                                                        Tax Deferred Retirement Plan




                     Fresno County Economic Opportunities Commission (FCEOC) has available to all employees the
             opportunity to save for retirement through a voluntary, self-directed Tax Deferred Retirement Plan under
             the provisions of Section 403(b) of the Internal Revenue Code. Participation in the program will be
             completely voluntary for employees.

                    All employees wishing to participate in this program must first contact an
             annuity provider. A Hold Harmless Agreement must be executed by the provider of
             the Tax Deferred Retirement Plan Account. The employee must complete a 403(b)
             Salary Reduction Agreement. To enroll in the program, both the Hold Harmless
             Agreement and Salary Reduction Agreement forms must be completed and turned in
             to the Human Resources office along with a copy of the Tax Deferred Retirement
             Plan enrollment form from the annuity provider.

                    The employee’s wages will be reduced per the Salary Reduction Agreement up
             to the maximum allowable by law. The employee shall be responsible for
             determining that any salary reduction contributions pursuant to the Agreement not
             exceed the exclusion allowance limitations of Section 403(b) (2), the annual
             additions limitations of Section 415(c), or the limits on elective deferrals of Section
             402(g) of the Internal Revenue Code.

                    The Salary Reduction Agreement will be automatically renewed as of January
             1 of each calendar year, unless prior thereto the employee and FCEOC agree in
             writing to amend the agreement. The employee, however, may submit an amended
             Salary Reduction Agreement only once a year.

                    All rights under program contracts are enforceable solely by the employee, by
             a beneficiary of such employee, or any authorized representative of such employee
             or beneficiary.

                     The involvement of FCEOC is strictly limited to the following:
                         Permitting annuity contractors to publicize their products to
                            employees;
                         Requesting information concerning proposed funding media, products,
                            or annuity contractors;
                         Summarizing or compiling the information provided with respect to the
                            proposed funding media or products which are made available, or the
                            annuity contractors whose services are provided, in order to facilitate
                            review and analysis by employees; and
                         Collecting annuity considerations as required by Salary Amendment
                            Agreements, remitting such considerations to annuity contractors and
                            maintaining records for such considerations.




Form 407/Rev. April 2005