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Home My WebLink About4D, Resolution 2010-042 - City Administrator's ICMA-RC Money Purchase Plan & TrustEN HIL�,S Re uest for Council Acti n q o Prepared By: Sue Iverson, Finance Director/Treasurer Council Meeting Date: August 30, 2010 City Administrator's ICMA-RC Money Purchase Plan & Trust (401 k) Budgeted Amount: Actual Amount: Funding Source: N/A N/A N%A Recommendation: i. Motion to adopt Resolution 2010-042, a resolution for the City of Arden Hills relating to the Money Purchase Plan, Plan Number 106944, administered by ICMA- RC with funds invested in a VantageTrust. Supporting Documents: 1. Memo from Sue Iverson, dated August 3 0, 2010. 2. Resolution 2010-042. 3. Governmental Money Purchase Plan & Trust Adoption Agreement. EN HILL S MEMORANDUM DATE : August 3 0, 2010 TO: Honorable Mayor and City Council Patrick Klaers, City Administrator FROM: Sue Iverson, Finance Director/Treasurer SUBJECT: ICMA-RC Money Purchase Plan & Trust (401) Background/Discussion: Minnesota Statute 353.028 allows City Managers and City Administrators to opt out of PER.A if they choose this election within the first six months of employment. At the May 24th City Council meeting, the Council adopted Resolution 2010-028, allowing the current City Administrator to opt out PERA. Since State Statute does allow City Managers and City Administrators to opt out of PERA within the first six months and City Administrator's employment contract specifies that we will contribute to either PERA or an alternative plan, Patrick has opted to participate in plan administered by ICMA-RC and invested in the VantageTrust at the same contribution level as would have been required under PERA by both himself and the City. In working with ICMA-RC, this requires additional paperwork and approvals from us, as we currently have a 457 plan but not a 401 plan. Attached is the required paperwork for us to complete the process with ICMA-RC. Staff Recommendation: Adopt Resolution 2010-042, a resolution for the City of Arden Hills relating to a Money Purchase Plan, Plan Number 106944 administered by ICMA-RC with funds invested in a VantageTrust. �N HILLS CITY OF ARDEN �iIL�S COIJNT� O� RAMSEY S�ATE �F 1V�INNESOTA RESOLUTION NO. 2�10-042 R.ESO�UTION FOR THE CITY �F ARDEN HILL RELAT�NG �fl A 1VI��TEY PU�CHASE PLAN PLAN NUMB�i� 106944 WHEREAS, the E�ployer has employees rendering valuable services; and WHE�AS, tl�e establishment of a rrioney p�rc�iase retirement plan benef ts employees by pro�id�ng funds for retirernent and �unds for their beneficiaries �n the eve�t of death; and WHEREAS, the �mployer desires that its money purchase ret�rement plan be admi�istered by IC1ViA-RC and that the funds held in suc� p�ar� �e ir�vested in the VantageTrust, a trust established by ��blic err�ployers for the collective investn�ent of funds held under t�eir �etirerner�t and deferred compensation pla�s: NOW, THEREF�RE, BE IT RESOLVED THAT the Ciiy o�Arden Hills i�ere�y �stablishes or has established a money �urchase r�tire��t �1 �.� (t�� "�'lan"� �� f�� : • T�e IC1V�A Retirement Corporation Governmental Money Purchase �lan & Trus�, pursuant to t�e spe�ific provisions of �l�e Ado�tior� Agreeme�x (executed copy �.ttached �er��o}. The �'�an sha�� be maintained for the exc�usive benefits of eligible ernploye�s and thei� beneficiaries; and BE I� FURTHER RESOL�ED t�at the Employer hereby executes the Declaratior� flf Trust of VantageTrust, in�ending this execuiion to be o�e�ative with respect to any r�tirern�nt or deferred c��npensation plan su�sequently esta�lished �y the E�nployer, if the assets of ti�� plan a�e to be in�ested in VantageTrus�. BE IT Fi.T�Z'T�iER RESOLVE� tha� t�e Employer �ereby agrees to serve as trus�ee under tl�e Plan and to invest fu�ds held under the Plan i� t�e V�.ntageTrust: and B� IT FLTR�'HER RESOL��D t�a� tl�e Fir�a.nce ��rector s�a�� be the coordinator fo� the �'�a�; s�a�� rece�ve repo�ts, �otices, etc., fron� t�ie �C�A R�tiremer�t Corporation or t�e VantageTrust; s�.all �ast, on be�al� of the E�p�oyer, and required votes �nder the VantageT�ust; may delegate any adm�n�strative dutie� relating to the P�an to ap�r�priate depart�ents; and BE IT FITIZTH�R RESOLVED that the Employer hereby authorizes the Finance Director to execute all necessary agree�nents with IC11�A Reiirement Carporatio� i�cidental to the ac�m��.istrat�on of t�e Plan. AD4PTED BY THE CITY CO�NCIL OF THE CITY O� ARDE�T HILLS �'HIS 30r� D�,Y OF August, ZO10. Sta�ley D. Harpstead,lViayor ATTEST: Patrick �laers, �ity Administrator 1CMA RETIREMENT Ct?�tPORATIOIV GOVERNMENi`AL Mt3NEY Pl1RCHASE PLAN & TRUST ADOPTtON AGREEIIAENT ��A� �t��t$�� o- � 4�� ___ The E�np�oyer hereby es�ablishes a Mc�ney Purchase Plan and Trust tv be known as `�'��-- `��=�i� ��'3 ��S , , � .. '�+�� _�t�e "P�an") in the form of �he I�MA Reti�emet�t Cc�rporation Gover�.menta� IV�oney Purchase ��an an Trust (1VI PP �l /dl /�6)_ �is Plan is a� amen�men� and cesraternent oFan existing de�ncd contri�ution money pizrchase plan. � Yes No If yes, p�ease specify the name of the defi�ed contrihuti�n mon�y purc�ase plan v�hich this �'la� herehy amends and restaees: �� I. Em lo er. i _� �.�-_ s1 �� 5 �' Y --- -- — -- — �� I. 1�e Effective Date of �he �'�an sha�i bc t�e �irsr day of the Pla i'e r during which t�e Emp�oye�- adoprs the Plar�, unles� an a�ternate Effective Date is herebv specified: _� � �� _ _ _(e.g_, january l, J � 2QOG fo� �h� � P� o � �a � l06 �1��) . II�e Plan Yea�- wi�l mean: i� Z�e twelve {12) consecutive �nonth period whicl� coincic�es wit� the limirarion year_ (See Sec�ion 5.03tf) of the ��an-) � ' � � �he rwe�ve {12) consecut�ve month pertod commencing on �� __ and each anniversary thereof_ � �V. Normal Retirement Age s�ail be age ��_�not to exceed a�e US}. ��$� V. ELIGIBILITY REQiJIREMENTS: 1_ 7he fo�Iowing graup or g�-oups of Emplovees are eligib�e to part�cipate in t�e Plan_ ___ A � l Em p�oyees _ Al� Ful� �'�ine Emp�oyees _ Sa�ar�ed Emplvye�s ___ l�on union E�pl�y�cs _ Management Emplo�ees _____ I'ub�ic Sa�ery �rr�p�oyees _ Gene�-a� Er�npioyees --� Ot�cr Employecs �specify describe the grot�p(s) of eligible emp�oyees f�e�ow) _��. ___�� n ' +` s�L��zr �'� �- 3�e group speci�ied must correspond t� a group of the same designation that is defined in the statures, ordinances, rules, regu�atifl�s, personnel manuals or oti�er r�aterial in effect �n the srate or �flcaiiry of t�e Ei��p��yrr. Alsv, t�e e�i�ibi�i�y r�quircrr�Cnts fc�r participatiun �n the I'�an cannvt be suc� t��c Emp�v��es bec�rr�C Part�cipa�ts only in �he I'lan Year in which rhe �mp�oyees te�-�ninate employrr�ent (�.e_, s�and-alone �ina� pay �lans). � 1Vlo�ey Purchase P1an Adoption Agreement 2_ The Emp�oyer her��y wa�ues or reduces the rec�t�irement o�a twe�ve (12) �r�nzh Period of Service for �ar�ieiparion. The requi�ed�Period of Service shall be {��-ite N/A if an �mplo�ee is e�igib�e to �artic�gate upon emp�vymen�} �,� _ ^ If th�s vsraiver or reduction �s elected, it shal� app��T ro a�I En�pfoyees withi� r�e Covered Err�ploymen� Class�ficarion. 3_ A mir�imum age r uireme�t �s h�rel�� s�eeified for eligihi�ity to participate_ The minimum age requirement is �� {not to exceec� age 2I. �Irite l�lA iino r�in�mum age is declared.) VI. CflI�I'�`RIBi��'IUN PRQ�ISIONS i_ `�-he Er�p�oyer s�a�� contribu�e as fo��ows (choose a�I that app�y): �ixed Emp�flyer Con�ributio�s With or Without Manda�ory Par�icipant Contributions. ��f secr�on B or C is c�osen, please complete sectiQn D_ Section E is optiflna�_} A. Fixed Er�Tpl_oye� Contr�butions. �e Empl�ver shall c�ntribute c�n beha�f of each Part�cipant °` ��% of Earnings o�- $__ _ �or the Plan Year (subject to t�e limitations of �rtic�e �I af the �'Ian}. IVlandatory I'arricipant Contriburions are required �- are no� re�uired to be e�igible for this Employer Contriburion_ B. �andatort� I'articipant Conrributions for P�an Participazion A�'artici�an� is required ro contribute (subject �o the ��mita��ons of Artic�e V of the Plan} (i) 1,��/o of Earnin�s, �iiJ �---- � OT �iii} a whc��e per�e�tage of �a�-��ngs be��e►� ��e �-�s�� _ (��ser�- range �� percentages between 0% and 20% (e_g., 3%, 6%, or 20%; S% to 7%)), as desigiiated b� the Emp�oyee in accordance wirh guidelines and pracedures esrablis�ed by the Ernployer �or the I'lan Year as a condition of participarion in the I'Ian. g, Partiei�ant sha�l not have th� righr to disconrir�ue or var� the rate oEsuch eontr�bi�tions ��ter becoming a�'lan ��-r�ci�ant_ �he Emplover �er�by elects zo "gick up" the 1Vlandator� �'ar�icipant Contributions_' . � �es . No b2l � � C_ 1Vlandato�-v �'art�c�pan� Conrributions for this Por�ior� of t�e Plan �ach Err�ployee e�igible ta part�ci�ate �n the I�lan s�a11 be given r�e opport�ni�y to irrevocab�y elect �o parricipaze in the �Vlanda�ory Partic�pant Cantriburion part�on of rhe P�an �y e�ecring ro conrribute _ __ _ _ __ �Insert YAn�P o�percentages bPt�Pen 0% r�nd 2D% (e.g_, 3%, �%, or� 2(1%; 5% to 7%1� of the E�n�Ioyee's �arnings to t�e #�Ian �or each I'lan Year {subject to t�e lim�ta�ions of Artic�e V of �he Plan). '�Veither an I,�S r.rclvisor�y lPttes- nor a dP-�termination lette� iss�ePd to an Qdopting .��n-�ployer is a ruling b� t�iP �nternal �ZevenuP Service that Participant contributions t�at ar� picked up by the Emplo��er are �tot includ�ablP in the Participant's gr�s.s ineome�or fedPral i�co�rce tax pu�-poses. Pirk-u� contributions arP not mandatPd to receive private letter rulings, �iowever, if an adopting Pm�loyPr �ishes to receive a ruling on pirk-�p contributions t�ey mdy rPquest one in dcrar�lance with RevPnue l'rocedur� 2007-4 (ar sz�bsequent guidance). . _ _. , . __._ ._ _.. . _. -- Money �'urchase I��an 1�doptivn Agreemen� � A Parricipant sha�� not ��ve the righr ta discontinue or �rary t�e rate of such co�tributians af�e�- becoming a Parricipa�t �n th�s porrion of the P�an. �e Err�plQyer �ereby e�ects t4 "p�ck up" the Mandator� Part�cipant Contr�l�utions.Z � Yes � �Io D_ E�ectio� �XTindow. �ewly e�igibl� Emp�oyees s�a�l be p�-ovidec� an election window v�_ ____ c�a�s {no more �than C�0 �aIendar da}�s} �rom t�e date of initiaT elig�bi�i�y during whic� t�hey may make t�e e�ection ro parricipate in the Mandarary Participanr Conr�-iburion porrion o�the PI�n_ Participation in the �1�ndatory Parrie�panr Contributian porrion of the Plan sha�� begin the first of the mon�h foilowing rhe end c�f t�e e�ection window_ An Employee's elee�ion is i�-revacable and s�al� remain in force unFi� the �rnp�oyee term�nates employment or ceases tc� be eligi��e ro participa�e �n the P�an. �� t�e event o� re-employment to an eligi�le pc�sition, the Emp�o�ee's origir�a� electior� will resc��e. In no evenr does rhe Employee �ave the opt�on o�receiuing rhe pic�- �� eonrribut�on amo�nr direc�Iy_ L� Fixed Employer Match of Voluntary i'articipar�t Contributions. The Employer shall contribute on bel�a�Fof eac� Participa��t % of Earnings for ��e Plan Year �subject to the limi�atians o�tlrticle V of the �'lan) fo�- eac� P�an Year that s�ch Participant has co�t�ib�ted _ % of �arnings or $ _ __ _. �Jnd�r this option, t�ere is a$ingle, �xed rate of Employer contri�utior�s, �u� a I'art�c�pant rnaj� decl�ne to rriake the �-et�uired Partic�par�t cun�ributions in an,y �'lan Year, in vtr��c� case no Emp�oyer contribution vvil� b� made on the �'a�-tici�ant's beha�f in that P�an Year. � Variab�e Emp�oyer 1Vlatch o�Voluntary Participant Contributions. The �mployer sha�l contri�c�re on beha�f o�eac� Participanr ar� arr�ount �etermined as follaws (subject to the �imirarions of Arr�c�e V of �he P�an�: _% of rhe Voluntary Participant Con�ri�ut��s rr�ade hv ��e Pa�-ticipant for the Plan Year (not in�luding Participant con�ri��ations exc�ed��g °�� f ��a�a�g� o� � — ---); PLUS �/c� of t�e conrributio�s mad� by the Participant for thc Plan Year in exc�ss of those inc�ud�d ir� rhe above pa�agraph {�ut not �n�luding Vo�unra�-y Part�apant Con�ribu��or�s exceed�ng in ��e aggregate % o� Earnings or $__ _ _1_ �mplo�er Ma�ching Gon�riburic��s Q� behalf c��a Partici�ant fnr a Plan Year shal� not exceed $ _____ or ___% af Earnings, wl�ichever is _ more or _ Iess_ 2. Each I'articipant rr�a� make a vo�untary �unmarched�, after �ax contribution, sc�bjec� to r�� l�mitations of Section 4.0� and Ar�ic�e � of ��e Plan_ � Yes � I�Io 3. Er�p�oyer con�-ributions for a P�an �ear s#�a�� be conrributed to the Trusr in accordance wit� rhe fo�lowing �aymenr schedule �n� larer than rhe 15�h day of the renth ca�endar �nonth fo�lowing rhe end of tl�e cale�dar }�ear o�r f�scal year (as applica�Ie depertd�ng on t�e �asis c�n �vhich t�e Employer keeps its books) witl� or �vi�hin which ��e �articular Limitation year en�s, Qr ir� accordance with appli�a�le law): ' SeP footnote � on shP previous page. �� 3 Mo�ey Purchase Plan Adoption Agree�nenc 4. �'ar�icipan� eontributions for a Plan Year sha11 be contrib�red ta r#�e Trust in accordance with the fo�Iowing payme�t schedu�e (no later than t�e i5th c��y of �he ter�nc �a�endar rnonr� fo�iow��g the end of the �a�endar �ear or fiscal year {as applicab3e cfe�er�ding o� t�e basis on whzch the Emplayer keeps its books} witl� or w�thin ��hich rhe particula�- L�mi�a�ian �ear ends> or in accordance with a�p�icable �ativ)_ VII_ �A�N�NGS Earnings, as de�ned under Section 2.09 0� the �'Ian, sha11 include: (a} �vertime Yes � No (b) $onuses i� Yes No �c) Oth�r Pay {sFecifically descr��e any other types of pay ta be incIuded below} VIII. The EmplQyer will permit rollover contrib�tio�s in accordance with Section 4.I i of the �'Ian. Yes � No iX. LIMI�'ATIO�T OI�T ALLOC�TIONS �f the Emp�oyer maintains or ever mai�tainec� anot�er qua�i�ied ��an in w�ic� ar�y Participant in this Plan is (ar Was} a part�cipant c�r coula possi��y �ecnme a participant, the Emp�oyer herei�y ag�rees tc� lirnit c�ntributic�ns to a�I such plans as prov�ded herein, if necessary in order tt� avotd excess cor�tributions (as d�scribed �n Sec�ions 5_02 of che Plan)_ �_ �{�� 'ar��:ga�-:€ :� cavered ��de� a��€�e� q�a�F�ec� u'e��e� contribu�io� p�an mai��ained b� t�e �rr�R�ayer, t�e provisions of Section S.O��a) through {� o� the P�an wil� applv un�ess anorher rnethod has been indicated below. � t�ther 1Vlethod. (Provi�e �he me�had ur�der which the plans will Iimit tora� �nnua# Additions to the 1VIaYimum Per�n�ssible Ar�ounz, and will properly reduce a�y excess amoun�ts, �n a manner that precludes Err�plover discretion.) �. `The �im�tation year is rhe fo��avvin� �2 consec��tive month period. , � i ...� � � � 1Vloney Purchase Plan Adoption Agreement 4 X. VES�'Il�G PRO�iIS�OI�iS �e Err�p�ayer her�by specifies t�e fQllowing vest�ng schedule, subject to {1) �#�e mininr-�urr; vesting re4uTrement-s and (2) t�e concurrence o�the P�an Adr��inistratQr_ (�or th� b�an�s be�ow, enter the applicabt� pe�-cent — fror-i-� fl�o �00 �with r�o entry after the year ir� wh�ch 100% is enrered), in asce�ding o�-de�-.} Period of Service �omvleted �ero iJ ne Ti�v� �ree �our �ive Six Seven Eighr Ni n� Ten Pe�-cent Vested _� C� % % �'lo �/� % % t% % �/a o�� ol� XI. Laans are permitted ��der rhe Plan, as provided in Article XIII �f �he P�an: � Yes l�o �j'� � � XI�. I. �n-serv�ce drs�riburions are perm�rred un�er the I'lan after a participant atrair�s (se�ect one oF the below opr�o�s): [b4b:8� Normal �etircm�nt A�e � Age 7�1/2 � Not Qermitted at anv �ge 2_ Tax-free dis�ri�ut�ons of up ro $3,OOC� �or the payment of qualifying �nsurance premiurns for e�igible retired p��i� saFety -o#�icers are available under the PIa�. � �es No (De�aulc} �b�6:�� XIIi. Ir�-service disrriburiofls of. rhe Rollover Account are permirted i�nder t�e �'Ia� as prov�ded in Section 9_07. � Yes Nc� tf�e�au�t} XIV. SPQi1SAL PROTECTION �e Pla� zv�� provi�e t�e fol�owing leve� of spausal �rotection (se�ect one�: A. � Participant I�irected Eleetion. lI�he nc�rmal f�rm t�f payi-nent c�f �enefits under t�e Pla� is a Iu�p s�m_ �e Parricipant can name �nv pe�son(s) as the Bene�iciary of th� i'�an, with nc� s�ousa� consen� required_ �. �. �eneficiary S�ousal Consent Eiection (tlr�icie XII). T�e no�mal form of �ayment c�#�henef�ts under �he Pdan is a�ump su�. Upon deat�, the survivtng spo�se is r�e Beneficiary, un�ess I�e or she conser�ts to r�e I'a�-tic�}�ant's nami�� a�vrher �eneficiary. {��is is the c�e�aulr prc�visi�n unc��r the I'!an if nv sClecti�n is �ade_} �b�b:l � [b4b:b] �b4b:6� C. � Q�SA E�ecrion tArticle XVII). �e nor�al forrn of paytrier�� of benefits �nder �l�e i'lan is a 5��/o ualified q �b�2:8� jc�int and survivc�r annuity with the spc�use ��r life anr�u�ty, �f s�ng�e)_ In t�e even�- of the Part�cipan�'s death prior �o. commer�cing pa�Tmer�ts, the spouse wil� �-eceive an annuit3� for his o�- her li�et�me_ ��j�(�.b� � Money Pu�chase �'lan Adoption Agreement XV. �INAL I'AY CON�'�t�B�i'��I�TS i�.e Plan i�vill provide for �inal Pay Gontributi�ns �f either I or 2�elaw is selected_ Fir�a� Fay sha�l be de�ned as �select one�: �. � �lccrued unpaic� vacatio� B. � Accrued u��a�d sick leave �. � Accrued unpaid �acation and sick leave l�. � �ther (�nse�-t def�nitior� o#� �inal pay): _ t�ar wou�d orherwise be payable to the Emplo�ee �n cash upon t�r�n}nation_ l. � Em��oyer Final �'ay Contr�butifln. The Emp�oyer sfia�� con�ribute o� behal�of ea�h Part�cipant ___ °/fl of Final �ay ro �he P�an (subjec€- ta the limit�tior�s o�Ar�ic�e V of the I'Ian�_ 2. � Emp�oyee Designated �inal Pay Contrib�tion. Eaeh Emp�oyee eligible to pa�tici�ate in the I'Ian sha�� be given the op�or�uni�y a� enrollrr�e�t to irrevocab��r ele�t to contribute _ %(insert fixed percentage of final �ay �a be contri�u�ec�) or up tc� _% ��sert maximum percen�a�e uf final pay tv be contr�but�c�} c�F �ina� Pay to rhe �'lan tsub�ect ro t�e lirnitations of Artic�e V of the Plan}. Once e�ectec�, an Em��oyee's election s�al� remai� in force an� ma� not be revised or revo�ec�_ ��r�e emp�oyer elects �o "pick up" thes� amounts, in �o ev�nt docs the En�p�oycc havc the option of recciving t�e p�ek-�p con€�ribut�on arr3flunt direcr�v. The E�np�oye�- �ereby elects to "p�ck u�" the Emp(o�ee Desi�nated �inal Pay Co��tributiQn thereby treat�ng such conrriburions as �mp�oyer-made con�ributians for federal �ncome tax }�urposes_ � Yes � �Io X�I. ACCRi1ED LEAVE GONTRIBUTI0�1S �e Plan wi�l provide for accrued unpaid �eav� eontributions �f eith�r i or 2 is sele�zed be�ow. �.ccrued Leave sha1� be defined as (select one}: �. � Accrued unpaid vacar�on B. � Acc�-ued unpa�d sic�C leave C. � 1�ccrued unpaid vacarion and sic� leave D. � C)ther (�nsert �e�nit�c�r� �f �nal pay: �hat would othe�-wise be �aya�le �o t�e Emp�oyee in cash_ 1. � Employer Accrued I_.eave Contrtbution. `Ihe Employer s�all contri�ute as follows �choose one of the followir�g o�tions): ��or eac� Plan Year, the EmpIoyer shali contribi�te on �ehalf of each El�gib�e Participar�t the unuse� Accr�ec� Leave in excess of (insert n�m�e�- of ho�rs/daysl�vee�s) to the Plan (subjecr �o th� ��mitations of Arricle V of the Plan). ��or eac� I'ian Year, ��e Ernploy�r shaii contr�bute an behal� o� �ach �Iigibie Partic�pant _________ % of unused Accr�ec� Leave co the I'�an �subject ro the limitations oFArricle V o�the I'�an). �62i � _...---.. .. _... _ _. ._ _ _ _. _. .____. _. . _ _ ._ _ --- .IV�oney Purcfiase Plan Adoption Agreement � � 2. Employee Designated Accrueci Leave Contribution. Each eiigi�le I�arricipant sha�� be given rhe a�portunity a� enro�Iment ro irrevoc�bly elect to contribure ___% (insert fixed percentage of accrued unpaid Ieave to be eont�-ibuted) or up ro ___ %o (insert maximum percentage o�accruec� unpaid l�ave to b� contrib�zred) vf Accrued L�ave to the I'la� {subject to the �ir�itatior�s o�Article V of the P�ar�). �nce e�ecteds an Emp�oyee's elecrion sha�f remair� in �occe and may nor be �-ev�sed or revoked. If the employer ��ects to "p�ck up" these arno�nts, in no ev�nt does the Emp�oyee l�ave the flption o{ receivi�g �he �ick-�p conrribur�on a�rtour�t direct�y. �e �mployer �er�bv elects te� "pick up" the Emp�ayee Desi�nat�e� Fina� I'ay �:ontributit�n thereby treating suc� contributiQns as E�np�oy�r-�nade contrib��ions for federal income tax purposes_ � Yes � No �b��3 �� ort�er tv allow �or �ina� Pay Cont�iburions and/or Accrued Leave Contributions, as de�rned in sections XV ant� XVI above, the P�an musc also include ac�di�iona� sources of or�going contriburion�, such as �ixed Emp�oyer Conr�-i�utions o�- Mandatory Participa�� Cantr�butions_ �n accordar�ce wi�h IRS Guidance, �CMA-RC Wi�� not process �inal Pay Contribution or Accrued Leave Conr�-ihc�tion Features a� part of a"Sta�d A�one" F�na� Pay Plan. �VII. The Emplc�y�r h�r�by att�sts z�at it �s a un�t of statr ��- �oeal gc�vernm�nt or an agency or instrum�nca�ity oFone or rrivrr uni�s of state or local govern�nent. XVIII. �e Pla� Adrr�inistrator hereby agrees ro info�-m rhe Employer of any a�endrnents tv the Plan rr�ade pursuant ra Section 14_�5 of the P1an or of t�ie discontinuance or abandonment of the �'�an_ XIX. �he Emplo�ec herebv appoints the ICMA Ret�rement �orporation as the ��an Administrator pursuant ta t�e terr�ns anc� cvnditivns c�f the IC;IVIA RErfIRE1VIE�I�' CURPURA�,�OI�I C30��RN11/[EN�"AL iViC3N�Y I't��i.C�AS�, �'I�A N 8� �I"�LTST. �he Employer hereby agrees ro t�e provis�on� of che Pla� and Trusr_ XX. The Emplvyer hereby acknowledges it understa�ds that Failure to properly �i�I our this Adopt�on Agreement �nay resu�t in disqualificarion of the P�an_ XXI. An ado�ting Emplove�- may rely c�n an advisary Ie�t�r issued �y the Inrernal �Zeve�ue Serv�ce as evidence that t�e I'�an is qualified un�er s�ct�on 40� of the �ncernal �evenue Code to the extent provided �n ap�licab�e I�S rever�ue �roc�dures and ather of��ial guic�ar�cC. In �Xl��ness �lhereof, the Emp�ove�- herebv causes this Agreement to be executed on t��s ��_ day o� _ 4 ..�— ----� 2o_i.� ENiP�.OY�R �y: � .,._._-- Print Narr�e. �i� _� .-�-.�''��=�� , .� Title_ ��'�. ` �. � r � �''t`'1,�.� �'1� Atres�: ICMA �ET� R�� ENT C:C)R�'(�RA��(�N 777 Nort� Capitol Sr., NE �lashin�ton, �C� 2�3U(�2-424{� 202-9C2-809� �v. , Print �1ame: �'it�e: Artest: _ , _. _ _ - - - _ . ._ . _ _ . - - -- _ . _. _ __ . _ - -- - -- 7 IVloney I'�rc�ase P�an Adoption Agreernent