Agenda - Council - 03/25/1986 - Laserfiche WebLink

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I I ICMA P, I'71'I REMENT CORPORATION I I I I PROTOTYPE MONEY PURCHASE PLAN & TRUST ADOPTION AGREEMENT The Employer hereby establishes a Money Purchase Plan & Trust to be known as City %f_.~.%m_se¥ (The "Plan") in the form of the ICMA Retirement (name of plan) Cofpo, ation Prototype Money Purchase Ptan and Trust. 7hi~ Plat', is an amendment and restatement of an existing defined contributio'~ pension plan. [] Yes ~.-xNo If yes, please specify the name of the defined contribution pension plan which this Plan hereby amends and rests A. EMPLOYER: City of lq, Amsey ! i i I I I ! I I I B. THE EFFECTIVE DATE of the Plan shall be the first day of the Pian Year during which the Employer adopts the Plan, unless an alternate Effective Date is hereby specified: January 1, 1986 C. THE PLAN YEAR shall be the calendar year, unless ar, alternate Plan Year is hereby specified: __ Calendar Year D. ELIGIBILITY F-,EQUIREMENTS 1. The ioltowing group or groups of Employees are eligible for participation in the Plan: __ All Employees __ All Full-time Employees Salaried Employees __ Non-union Employees __ Management Employees ___ Public Safety Employees _ _ General Employees ~. :7. Other (specify below) City A~ministrator The Employer hereby waives the requirement of a six-month period of service for participants. xE.x Yes Iq No If this waiver is elected, it shall apply to all employees within the Covered Employment Classification. A minimum age requirement is hereby specified for eligibility to participate. The minimum age require- ment is ../. (not to exceed age 241/2). Write N/A if"r~ minimum age is declared. 4. Normal Retirement Age shall be Fifty Years If a different Normal Retirement Age is established for one or more groups of employees, please specify: n/a Age Group E. CONTRIBUTION PROVISIONS The Employer shall contribute on behalf of each Participant. 5.0% % of Earnings for the Plan Year (subject to the limitations of Section 4.09 of the Plan). a) Each Participant is required to contribute. Zero % of Earnings for the Plan Year as a condition of pa.'t~c;pation. (Write "O" if no contribu- tion is required.) b) The Employer hereby elects to "pic~ up" the Mandatory/Required Participant Contribution. n/a ~, Yes D No Each Participant may make a Voluntary Participant Contribution as defined in Section 2.34 of the Plan, subject to the limitations of Section 4.04 and 4.09 of the Plan. ~ Yes [] No Each Participant may make a Deductible Employee Contribution as defined in Section 2.08 of the Plan, subject to the limitations of Section 4.05 of the Plan. x~ Yes [] No