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Reso 99-165
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Reso 99-165
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Last modified
3/3/2022 4:32:18 PM
Creation date
1/25/2006 1:56:27 PM
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CityClerk-Resolutions
Resolution Type
Resolution
Resolution Number
99-165
Date (mm/dd/yyyy)
10/14/1999
Description
Revise ICMA’s Mgmt Employees’ 401 Money Purchase Retirement Plan.
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Plan # 9854 <br />(g) Payment Procedures. (i) All payments to RC pursuant to Section <br />6(a), (b), (d) and (e) shall be paid out of the Plan Assets held by the Trust and shall <br />be paid by the Trust. The amount of Plan Assets held in the Trust shall be adjusted <br />by the Trust as required to reflect such payments. (ii) All payments to RC pursuant <br />to Section 6(c) shall be paid directly by Employer, and shall not be deducted from <br />Plan Assets held by the Trust. <br />7. Custod-y <br />Employer understands that amounts invested in the Trust are to be <br />remitted directly to the Trust in accordance with instructions provided to Employer <br />by RC and are not to be remitted to RC. In the event that any check or wire transfer <br />is incorrectly labeled or transferred to RC, RC will return it to Employer with proper <br />instructions. <br />RC shall not be responsible for any acts or omissions of any person other <br />than RC in connection with the administration or operation of the Plan. <br />This Agreement may be terminated without penalty by either party on <br />sixty days advance notice in writing to the other. <br />Me EvirerewMeMP-10111:1011P <br />(a) This Agreement may not be amended except by written instrument <br />signed by the parties. <br />(b) The parties agree that compensation for services under this <br />Agreement and administrative and operational arrangements may be adjusted as <br />follows: <br />RC may propose an adjustment by written notice to the Employer given <br />at least 60 days before the effective date of the adjustment and the notice may <br />appear in disclosure documents such as Employer Bulletins and the Retirement <br />Investment Guide. Such adjustment shall become effective unless, within the 60 day <br />period before the effective date the Employer notifies RC in writing that it does not <br />accept such adjustment, in which event the parties will negotiate with respect to the <br />adjustment. <br />(c) No failure to exercise and no delay in exercising any right, remedy, <br />
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