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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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Each Participant may make voluntary (unmatched), after-tax contribution, subject to <br />the limitations of Section 4.05 and Articles V and VI of the Plan. <br />Yes ❑ No <br />Employer contributions and Participant contributions shall be contributed to the <br />Trust in accordance with the following payment schedule: <br />Monthly <br />VIII. EARNINGS <br />Earnings, as defined under Section 2.09 of the Plan, shall include: <br />(a) Overtime <br />❑ Yes Q No <br />(b) Bonuses <br />❑ Yes Q No <br />IX. LIMITATION ON ALLOCATIONS <br />If the Employer (i) maintains or ever maintained another qualified plan in which any Par- <br />ticipant in this Plan is (or was) a participant or could possibly become a participant, and/or <br />(ii) maintains a welfare benefit fund (as defined in section 419(e) of the Code) or an indi- <br />vidual medical account (as defined in section 415(1)(2) of the Code, under which amounts <br />are treated as Annual Additions with respect to any Participant in this Plan) the Employer <br />hereby agrees to limit contributions to all such plans as provided herein, if necessary in order <br />to avoid excess contributions (as described in Sections 6.03 and 6.04 of the Plan). <br />If the Participant is covered under another qualified defined contribution plan <br />maintained by the Employer, other than a Regional Prototype Plan, the provisions <br />of Section 6.02(a) through (f) of the Plan will apply as if the other plan were a <br />Master Prototype Plan, unless another method has been indicated below. <br />❑ Other Method. (Provide the method under which the plans will limit <br />total Annual Additions to the Maximum Permissible Amount, and will <br />properly reduce any excess amounts, in a manner that precludes Employer <br />discretion.) NA <br />110 <br />MPP Adoption Agreement 12/23/94 <br />001-94 <br />
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