HomeMy WebLinkAboutCC Res 4225 1993-05-24
RESOLUTION NUMBER 4.;J;?~
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEAL
BEACH, CALIFORNIA, EST ABLISBING A DEFERRED COMPENSATION
PLAN FOR FULL-TIME, PART-TIME EMPLOYEES AS WELL AS
ELECTED OFFICIALS AND REPEALING RESOLUTION NO. 3644
WHEREAS, the City of Seal Beach has employees rendering valuable services; and
WHEREAS, the establishment of a deferred compensation plan for such employees will serve
the interests of the City of Seal Beach by enabling it to provide reasonable
retirement security for its employees, by providing increased flexibility in its
personnel management system and by assisting in the attraction and retention of
competent personnel; and
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WHEREAS, the City of Seal Beach has determined that the establishment of a deferred
compensation plan to be administered by the ICMA Retirement Corporation will
serve the above objectives; and
WHEREAS, the City of Seal Beach desires that its deferred compensation plan be administered
by the ICMA Retirement Corporation and that the funds held under such plan be
invested in the ICMA Retirement Trust, a trust established by public employers for
the collective investment of funds held under their retirement and deferred
compensation plans.
NOW, THEREFORE, BE IT RESOLVED that the City of Seal Beach adopts the ICMA
Retirement Corporation Deferred Compensation Plan, attached hereto as Appendix A.
BE IT FURTHER RESOLVED that the City of Seal Beach hereby executes the Declaration of
Trust of the ICMA Retirement Trust, attached hereto as Appendix B, intending this execution to
be operative with respect to any retirement or deferred compensation plan subsequently
established by the City of Seal Beach, if the assets of the plan are to be invested in the ICMA
Retirement Trust; and
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BE IT FURTHER RESOLVED that the City Manager of the City of Seal Beach shall be the
coordinator for this program; shall receive necessary reports, notices, etc. from the ICMA
Retirement Corporation or the ICMA Retirement Trust, shall cast, on behalf of the City of Seal
Beach, any required votes under the ICMA Retirement Trust; Administrative duties to carry out
the plan may be assigned to the appropriate departments; and is authorized to execute all
necessary agreements with ICMA Retirement Corporation incidental to the administration of the
Plan.
ABSENT:
Councilmemb s
f Seal Beach at a
1993 by
PASSED, APPROVED AND ADOPTED b ,Jl}e City Council of the
meeting thereof held on the 'l:! day of
the following vote:
AYES:
Councilmembe
NOES:
Councilmembers
I
_4~A / 2.~~.
( Mayor ~~\\\
AT;rE : .:P"~f Sf"'L ...'\111
/'"' ~, ...... 9. ,
i ~t~ 12 F..,-t........,.,~~'~
' ti it f..i ..,>#- "0.. ':Sr
~ *i~~
. '- ~ >>.. ,.
City Clerk f ~o: =:1
v ~,,~c, o':::~
~'P o.~ .,..: ~~
"'iiQ;'.~:~" 27. \q'>~<p;
tit. C': ....,....0 rp.".....::-
'11\\\ 00 N~'{ ,c.,.::-':::-
\\\\\'n>.~~
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Resolution Number 4I~~
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
CITY OF SEAL BEACH )
I, Joanne M. Yeo, City Clerk of the City of Seal Beach,
California, do hereby cert~~ that the foregoing is an original
copy of Resolution Number ~~on file in the office of the
City Clerk, assed, approved and adopted by the City counci~t,
the City of 1 Beach at a meeting thereof held on the o? ~
day of , 1993.
Resolution Number 1I<'.::I..S-
EXHIBIT 2C:
DEFERRED COMPENSAllON PLAN DOCUMENT
'~',;~,""r I~_.;_<.':'_-:l':~-':'':' '. 1..'" ~ . '.... ,,",,, ,> :;~... .,.".",),~'::':-c>~
"";;>,,,,~ ,~..;o-,,,,L'"'l --'~ "'......~~ I " ~ I ,1 ' ~".., ': '.:>~ .t:'\,,),'1~~A d' A ltl~~,t~.
.'.<.., : ~ ~ > ~ ' ~ : ~ ' -, ,. '! . . ~. - .Z~c 'I ..,..ppen IX ~ .<', ~~
I
06191
DEFERRED COMPENSATION PLAN DOCUMENT
NmCLE L INTIICIIIUC1ION
ThoEmplopr.......,__Iho~_
_IIonPlon.h__.......'f'Ion."
ThoPlon_lolll".pawloIonaootlarlhft"io-''''''
Tho__..oIlhIaPlonIa.........._
-..ond.___ID...e....,..oI1h.
E......,...ft_wilhlhoprowioionool_45701
...__Coclool'886,"__IIla"Codo").
lllIoPlon_lbe..._....,,_...
~.ncIpor11Cipo1inaempl_..
NmCLE .. DEflNIlIClNS
_.... 1.01 _Ill: 1110 -.op."Il _nt
.._lor ..", PorIiClpon. rollodng ... cu.
mulatIve amount of the Parbcipanl'1 Deferred Com-
....... indudlng Mf InCOI'n8. OliN. 10..... or
MeuMor-. I--mnwkMvalue.1InbuIabIe
to ... EmpIDr." ~...nt or the ParIicipn'a
o.IerNd co,...-...4Iial\ and further reIIecIing.,.
dIolrilallio.. ID ... Por1Ic:iponIor ... I'orllc:II>uCI
-'I' ond.", .....r _ chi"'"
ogoinII_....r '. ....DolorrodCom_n.
_.... 1.C12 __ Tho _..........
named ID c:any ..,. c:erlWI nonchClltllarary eel-
rnIniItradvellnctionlundlrtl.PIen. ulw.,.fIIw
_ Thoen,>loyor...,.........,.........
.. AdmraUlDr upon 60 dap' addnC'A i1otic:e in
wrI1Ing....ch -" In "'''ch.... IIa EmpI_
Ihd ,.me anott.r pIIIOn or I*IO"S m IICI as
_....r. Tho __..,...... upon
6O.p.'__ft_"II..IhoE.,."
ft ....ich .... ... E...,., ohoIl ..... ........
_or_.......__.
_....I.CII...~:Thoper_.._dooig-
..lid.., Iho _pontft hIo_~'
__~""'bonIfilo___ft
..._0I..._.....ih."'..._....
... _pont_ ... or..... __
_1IonoIciorr_be_lIodlDoquol_.f
... _ po,- ot" PorIc:Ipon............
....._..~"'..I'oIllcipotII'o-
AtI-- . ... bonOIciorr . .......lod In ...
_ ~ W "llooIgnolod Ilonofic:ioIr
~ Pwddpant. or if the ..t-."J..sed
. _"",,,_"._pore"'.
poriodolfi 1'51.~-oI'"
PorticIpont _ be" .
IeaIlDn 2.04 o.t.n.d Coft.. - ...Iftn: The.....not
Normol ComponuIion ......... po"" .. ..
_which'" PorIiClponlond...EmpI_
"""""'lrog_ID___..",_
cndiled ID . P.rL:,-,.... Account br MUOn of .
_ uncIor _1,03. .. onr ......-
_...~_..O'ociI................
~
_. I.IIS E""'-' """ Ind~..... ...-
__lorlhoEmplaJor, _........,..,..
otlheE""'''.MIlIfI,uldel4can1rK1Dr.
ond _ hu boon dooigNlod..,...~..
oIIgIbIo ID porIic:Ipo.. in .. PIon.
_Ion z.allnoludlblo~_:1llo""""0I
MEmPIavM'.~bonflamfl.~for
. ....bIe-,.., ....t iI aanbulable ID .."... per-
_lor'" empI_ ond llaUlindudiblo In'"
E~" grou incarne tar 1M tuatM ,.., lor
....., inco~ IIIX purpo...; IUCh I8rm ... nDI
_.""'....... ....uctoblo 110m glOu i_mo
u.- ... PIon .. onr ...... plan __ In
SectIon 457(b) of ..... CacM Dr .",. oIhIr .moUN
eacludablehmorOllinc:orNllorlldetatincornlu
purpo....lncludoblo~tIonohollbo_.
mined wiIhoul f8gIIfd III .ny comnunily property
10_
8eatIon un JoIn_ AgNemlftt: An ~ ...
_"'ID_..E~ond EmP_,
IncIudng.,..,..._ .c:tmenlaormodlfic:a1loNlhInol
Such -oMMMnlIh.n fix th. amount of Deferred
Co_lion. opocilr . ........ ~:
___......lIdbrlho ,
~..E."..,....llonofic:ioIror_
n... and inclorporal8 fl. I8rmI. cOrdlionlr" and
pDIliIiGMot.. pa,n br reIerenca
_1.llII_ ~_: 1llo....untol
_.__IIon....Ich_dbepo,-..._
ponl"'''E_...._.,_II......_
~_lnolloc:1"__tIon
_Ihio PIon.
_1.GI__.:.JD.,/2......
_...Po/Iic:oporIIh.._..-...._
Roto_,_'."'_lna__"
,,__IDSopor___
A PMi....~ Normal RIIbnmlnlAgl ......dl"'""
"poriodcllringwhich.Po/liciponI...,_"
COldHIpI_.....,SocIion5.02__. Clnco
.PorticIpoIlIhulDonr_UIiIlzod...........,.
_01_5.02,___
.... ego"., noI bec:hongod.
A.....c:iponI'o __ _ RoIi..,..... AGo
.., noI be _ "'.. .. __.......1Iio
p.,. f;1. 4 wII becDm.llllgtiltD..........
urnducedr8tir8rnentb8n81llunder"'lEmpIo,.r'a
booi. rotlIomonl pion _"II'" ~ ond
.., "'" be 10'" Ihon .. do. Iho _pont "'I
._.goJD.,/2.W.Po/liciponI_......,.
.... ...... ....... ego JD../2. noI "wing prooI-
ouaIr 1Iec:Wd an allIfna. NctnIW RrilarlIlto4 Ag8.
.. Po.......... 01_ _ RoIiromonl.
IhallnaI.............,... ~J]I"""""'-ee.
W onr, _- .., Ih. EqJIoror, ..... OlIO ot
which ... PonIc:ipon 0C0I0IIr __InIm__
vice W...E~hu..._...,_
_ ..._pontwllnol_oIIlibIolD
_bonIfiIoU_.___
..lIIIoinoel ~ "E...,.,." PlutidponI'o_
....Nomel 1l6_.lleodAgema'notbe.....1han
ego 55 ord..,noIbololor_ogoJD.112.
_1.10P"loIpont: """E.."..,.......hujolnod
.. PIon pu........ "'roqu_III_ N.
_1.11 _Y_Tho_,..,.
_10.1.11 1lolI......:Thotlro....upon....lc:h_
0I...1oIIowIrG .hoIIhovo_ wiIh_1D
. porIcIponI: ~n 110m SorvIco ond .1Ioi..
..... III ego 85.
_1.1'..'....... _ _: _.f
...PorlIc:ipon..........,"'"'._..~
which COnl.""_ .......011 tram .....WIlhn
...", _~oISoc1ion402(.lf4)IAC.Codo,
-" . PorticiponI ohoI be .._
...,..shla<lmDb.A4C"'wtth tME~ tar 1M"
_ 0I..1a PIori ......., In ...._ wiIh ...
____01 IIa Empl_. ........,.,.
..... _Ip Ia _OIl ID .... .-Dr
1Mnfrw._ "'1M cue of . Parbclpenl who .an
II -' . TndentcanlrKlOrof".E~..Sepuation
InIm _ _I be -.... .. __rod
when ... ParIIcIpMt'a CDnhcl under whICh ..,.
... er. perb..ll.d ... ~y _plred end
l8rmIrw.tMf. ....... II no tar....... polllblldJ ltal
... Employ<< wiU r...- fte a.ntracI or em. lItO a
__lor" Pon~rl oorvicoo, orcIll.
""_polod Ihot... Por1icipontWII bocomo In
E~.flh.Empo~.
ARTICLE'" _NB'lRATlClN
_....'.01_oIE_ThoE.......J:.=
h""lh.aulhorilyta",...Ucilcr~ .
_ti"lllho "llhIo or _10 01 Porlldponto.....ch
may be requlMdln the .nnilhHn 0I1h1l PI.,.,
IIMbn 1.02 DutIee at Adrnlnlllnltor: The Admin.
_, .. _ lor ... Empo,." _ portorm
Ml tdo.lCNIioiI.. IIdmirNa-allVe func1ionl In can-
_wiIh lhoPlon.Indudi"ll..._ot
PorIlc:iponto' _.... .. ,,-n .1 periodic
_ 01 ... oIolU1 01 -. Acoount. ond ...
__oI_loon boh.II.,"'.EmpIoJor
ft_"'Ih...............f"'IaPIon.
ARTICLE IV. PARnC:IPATlClN IN tHE PLAN
_10. 4.01 ...101 PMIoIpolIo.: /vi EmpI_ ..,
becom8. Plrtf51lnl =~ a Joind8r
AQI......m prior III the i"IG of It. c:aIendIr
monthlnwhlch"'Joindor IlIlDbocomo
_1D___""'roI_nod
_4.ClZ __.IJoInd. AtI-= A
Participant mer enwnd en ..eculed Joinder
AQI..".d lit cNnae the emountaf c:orI1*'UtIon
noIp1_....iclil.lDbe_l.....d"ll..
reduaon of adI rutu,. det8mII. to .-0) or III
char1Je hillln.Hlment pi....... (aubjed lIt..eII
NID1c1io..umer~tflam..."".,,.ar..,.of
.", -. _.., Ih. ~l. Such
8lMlMi.-1t1hel1 become eff8cIiVIIu of.. begin-
ning 01 Ih."- manlh -......... .... ...
........_..ItIl..ecuIId. A PerllClplnmer
..ony_....ldhio_AtI_..chongo
lie _~ BeNlIidery. and IUCh amlQldIl._4
___lIm_...,.
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MnCLEV. UlllTA1lClNSON DEFERIW.II
_Ion t.OI N_~: Eac:opt.....,-..
_ 5JI2. ... ...._ ........1 .1 Do*rod
~lIon lor.., ""'rtIc1pont 10."", ....bIe
,.,ohoIl noIU_'" _.1$7.500.00.. 33-
1f.1_0I... PorIIc:iponro Indudoblo CoIrt>on-
.lIonlor..._,..,. ThI._lIonWll1_
norIIr...__....._0I$7.500'OOor25
_oI"'PortIc:iporh_~ !
_ UI_.up LlmIIIIIon: For_ oItholul
...(3)-,... 01. _pontondng....
....hfo__oI_ __._11 Ago. ...
..._......nI'" ~ Componoollon_
...... - 01: (11 $1~.:,.:'" ..molB'"
_ UmIIaI... .. ... ,_. ond (II ...
NonnoI U_lIonb _ pno....__ ...
Pwl'c'*"IcorrrnlllClllQ.rr.r 1871 leu lhearnDUnI
oItho Por1Ic:iponl'o DeIoirod eon.,onool... for ouch
prior"""" ___ A _ ..;::::. _...
_lnID__". _
onI, n (I) ... "-'IcIponIwu oIIglblo .. porkIpoIo In
... PIon lor _ ,.., (.. In .., ._ oIlg1b1o
...". campenatlon lII.n .lI.bllIhed unca.
_457ol...Codowflichlopnl"""'_1nIo
_nt_lOrogulollono__457).
ond ~9 ~~W.." _od __...
PIen (or IUCh oltw ... eubjecl:1D lhedllerr8l
Irni...ane l8l1orth &.cIIon &'01,
_ ..0301...,....:1110........__
.-~.L~::-.._thI.PIon.."",
ataer .clOlble ~"'lIan plan under
_45701'" Codo_not_$7.500,OO
(orouchg_IDr__u.-Socoon5.02
of the Plan), ....", amount _CMMd from S1l'OU
Incomo u'- _n 403(b). 402(.HI). or 402
lhHll(8).I...Codo,...., _nIWl;'_"
....Ich . dNlclion 10 .Iow_ by ....... of .
CDnIribulian ID ... orgarlzation dllCflbed In MCtion
501(c)(11) "'... Codo,
I
AIl11CLIVL _IITII AND ACClll/NTVALUES
_1.lI11n_oI_~"Ion:
AI_ImonIo.' _pooro DoIarrod Compon-
_lion modo by ... Eft1Iloror.lncludong oil pnlpo",
oncf righlo _uod willi ouch _n.. and ..
Inco.. .arIbu..bIe ....... olio'''' ... _ prop-
..,01... E/njlI.,..oncfoholl not"'_1n """10.
PortcI~rUCOllallrall8CUrllyfarlhefullllrnln
01... 011I9'110.. undir... AM. s..ch
......., ... =.. ... cIoimo., gonoroI
_.'''.E .oncfrDPItticIjlonI..
~"'"""'.nyvelledlrdlnllorIilCUNd
..pralonad_l...wl.._..ouch_..
hove wry c:Ioim ~... E......,.,........
gonora/_....
_ UI Cradling 0'_"':1110 ParlIcIponI'.
__ r_ "'_ondvoluo"''''
1rro_.._.......,_..,...Em-
_ IhrouGh ... _ "'... PorlicIponI'o
DoIorrod Co_lion. . 10 onkipotod ... ...
Eft1Ilopr'aI_ willi _..._
~:.: :;:nn...::..:,..~=, ==
but rDlIlIng _........ conollUad.. roq.......
Eft1Ilopr 10 ...... .., ....... __ ., .
~I'I Oef8rredCampen..rian. EachPctic;.
poI'UIloll_ponodoc_noIlou""","",,,
...........0,. ~..._..._.'11io
-.....
_ I.CII_: (01 -.g T_: A
........,... accopIod 110m.. "'lIiblo_
co__..."..._..,_....,.
oncf crodilod 10 . Por1IcIponro _nt ...... ...
PIonn(l)...PartlclpontlllO~__
wi" """"""'oncf _.. E"""",""oIll1.
~. and Ci)........~..... pill-
vIdOo....__....._ThoE......,.,
.., _Ira ouch docu...to1Ion 110m ... .......
_".........._10_.....
........ .. __ .... ouch .... 10 .. olIglblo
_co_tIon....wlthlnll1......,oI
s.ction..S7 afIheCode.....IlI...ur..... INN'"
.. __ for ..- ...... pion. Tho Empl_
__10_._...........,......
_ .... _, _ ... E.,.. oncf ...
M..liiiI...Dr..... haldlUChOltllll'......undlr
...PIon./Ivrt...." ___ not'"
...1Id .. . ...". aublecl III ... Imllali... af
_V._..~Ior_oIOf1P1r1ng...
1_110.. or SocIlono 5.01 and 5.02, .. _nI
_ durtng.., _ _ u'-'" pion
1Iom....1ch ....._Ioaccoplod_ "'_Iod
ull....-._......Plondurlng"""
.....,..,andco.\"* .,......br'1hetrw1llnr
~."oII..._Iod..n.hod_poId..,...
En1>/DYor.
llIl OulgOlng T_faro: M .mount _ ........
_ .. .. "lgIb1e _ _oIlon pion
moi_.., _...........,.,. ond chorgod",
""'rtlclponI'o _ntundorll1lO AM. nIl) tllo ""',
lIcIpont'" __110m __ wi;.... E...
_.nII _.. on..._ "'..._....
_. (.)Il1...... ....,.,-. pi.. pnlV>CIoo 1l1.,
_...... will'" -'"". ond (III11l1._.
pont ond tllo .......,.,. ho.. _ _ _
rMnIIu"'~.lIUUreiiat".EmpIoyer'.
.....1\' .. po, _10 ..... ""'''''''pontIllO -.
-'rvod ond .....mod by ... ._ _10,.,.
1110 E......,., .., _~e _ -......tion
from Iheolh. plan ult dMml,......, 10 effec.
...... ... ....for. 10 conn.. tllo. ouch pion 10 ..
.lgIbI. .wend cornpenu.tiDn plan ..lhin the
mooning oI_n 457 01... Coda. ond.........
_....,.......,-lorundor_pIon.
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Resolution Number ~;?~~
'Such ....faro _I ... ..- ..., u'- ..ch
c:ircuml1IInc:eI.. aM pemillMl undIr uc:tian 457
_ oIllaCado.nII "'1WQlA1lono_.
_Ion 10M ...... LIabII_r: In no __ .... the
E..........._"..~_...""'rtlC:ipool
under MAc.. VI ..CMd fte... or .... ....."11
_..... PorkIponr.-...r;... ~
_ not be _lor _orIoing from........
lion.. .,,~ In ... voIua "'" I__
-*'" u.-1Iia PIon.
MnCLE V1L IlNEI'I11I
_n 7A11I1olI_ _.... _Ion...
............ ham _: ~ .. _
__ In ..10 _ VII. ... _bullon 01 .
Pmcipanra AcaNmlIhaI ~ICI" 01 AId 1
01 ... _ ,.., _ ... PIon y_ 01 ...
I'artIcIponl'oRo*-nl,and..._bullonol_
___"'_In__
willi... "'1l1...,..copliorw _In Soc-
tIon7.02.__ng...IorogoIng...._
~ rNf' InL a tf'aL, .... ."in 60 dlra fallowIna
Soponlllonlnlln _......... _....01
benefitaoommlllCl an a". or~.,':'''' eIIle
.............._In.....-...__
_1..._60..,._tllo___
Io.._odlnwritlng..tlloe.,..ond_
....._...... bu.notlo... ....AprIl 01...
,.., _ng ...,.., 0I...1'IIrlIcIpont'o Roll..
......_.....0I0g01O-1/2,_1o......
_1on7.G1Pay-.t0plIono:,.....,-.._
7.01. 7.114, and 7.05, . PortiaponI.. Ilonofic:Iorr
_ _ 10 hove ... vol... 01 ... PorfIc(ponl'o
Acc:ountdlltnbur.d In .CClI ._willl one ofllle
101-' poy......_ __.... _.,.
lion II ClDNlltIrII: W11h .. JrnIIatioM ... forth in
_7.03:
(0) Equol-""l\'........,..........I..annuoI
_lnonomount-'..,...PorIIdpont.
continuing '""" hlo _ntlo uhou.lod:
III) -ru.p..... poJIIlOIlI;
(e) AjIpnl_,." oquoI monlhll'. quo_. -
onnuoJ or annuoI,.,....., colculolod 10
. _1or.por\od__..,1la
ParlIcIpont.
(d) Annual P8.ymenta equal to the minimum
..._.._lrodundor_n4011.)1ll).,
Ihe Cod. ow... the tif. ..pee.:. of the
Participant or OWN' "elir. _rl ;111 of 1he
_pontondh__.,.
(e) Po,...u_....po,...u_..,Il1.Ioou.,
01. ..._ onnully policy OCQUnd .., ...
~.
(I) Ant .1l1.. ..,...nt opti.n et_ by ...
Portlclponlond.grood .. ..,... EmpI.,.. ond
AdmIrutralllr, providMI1h8I such opbDn lft.Iat
_foroubo..ntIoIiynanlnc:ruolngpo,...u
for an, period' .Ir.,. ".. '....r be"."!
com....IlCtiI..enldl...u... SectIon 7.01.
It. Par1icipenl'a or 1lonofic:Iorr'. ~ of a
peynwd opbOn mual be,..... ....130.,.
batorethe pllJ'menlaf blnefill illlIcarnmence.
. . PwlIapont .r _.., .... .. rrwka .
ImoIy _lion 01 . poymonI opIion, _liIo
_bopoldmonllll, uncIoroplon (c)_lor
. por\od .,.... ,.....
_7.03U_on_No...,...,..plion
1III1..._..,.Partic:lpont..1lonoIiciouy
u'-SocIlono 7.02, 7.04, ..7.05u_......Iio.
"'__.'Sld"'OOl(o)(I)oncf457(d)(2)
.,... Coda.lncludng"" po-," commonclng
_.. tllo....1l1 .1'" ""'rlIcIpont _ ..b." ...
_....Il1___undorSocllon
457(d)(2)(8I(ilII). UnIooo._ _ ..,...
....liclpon~ .11 dolonnl..lIono unll.. _n
401(.)(8) _... modo wlllout_..1Ion 01110
e-IjlI cllr.dM.
_7.D4____(0I_
... Plu1dpIn1d..aflerhalatw twabeQunto....
-.. _ . ~.... oplion, the ....."*'0
_'..,.u.-tllopo,..oopllon_'"
parable tIIthe Parlic:ipa..... 8enefIdery canmenc-
InIiwlll1ln... 3O-do~~ willi'"
110t '!"f _ ... ....11I. u_ ...
_....,_ po,........d_ pay-
ment optIOn thelia available under Sedon 7.D2
_60doyool...""-"......./lvrtdillor....
PIIJ"'OIIIOJlIlon_..,.llonofic:Iorru.-lIlIo
MCIian mull pnwide for pIIym8nt:Iala r-.Ie "atlelll:
_... u u.-... po,.....opIlon 1l1.._
~_.. ... Porliclponl.ln rD _I ohol ...
E.....,..._..._IO...1lonofic:Iorr
lor l\eamountolanypllymefttrradeln.. ..meDl
... Porkipont _e... __
pnIoI.,...... of..._pont.
(b)....-\. __cIoIy_not_
.. IIwt 1or......-.IrUng por\od 01_10 undor
...""'....opIion, _"'COIIlIIOIlodvol....,,,,,,
NmliningpaymenllunderlheDBVm8fttop1ionlhd
be pUlln...""unlll.........o'....8ene..
~.In ........11haI1hII Participant'e ..........
Benebry, the c:ommut.d Y8Iw 01 an, Nn'BlnInO
po,.....u'-'" pormontoplion .....I...pood..
.......In a lump 1Urn.
Resolution Number /f-.:z:?~
_7.05_""___110: (o)ShauId
...PIIliciponIdI._IloI....ha._to
_1ho_.11o pnMdodtor_7'Ol....
...... .,... I'artia...... _n. oholl be payabIo
.. ... ......." COI'rIINIlCIng within the 3O-daf
~:!.~ndnD on the Inl' cay .Jr., the
, l'adoolll."-"'--"lrrovocobIr
lIIectIad,",ntnl fixed or dltermnable benefil com-
_dotowilllinllOdoyool...P_l'I
-.a. Such benefit cornmncament ...shell be
nDI.......dlan1hl1a_oflQ Olclrm.S1 offMIpar
...-.olho ,.,01... _......doo...or(u) d
"'_ryil"'P_nl'lopou",~
31 of 1M,., In whIc:h 1M PartICipant WDUId have
_000 711-112.
lb) Un.... Bonoliclory _. cllIo..n. po,....n'
apDan prior IlII the benefit OOlNMUcarnMI ....
.... beMfita .",., II. SKbDn .... be pM In
~na"" ..... annual in,tllllmentl O'IM' five
,..,.. Drover IUCtt IhDne, period as 1m,. be nece...
..,.......lhal.. amount of an,. IMnu"lnltall-
InIftt I, not....1\an $3.500. A Bendclary IhaD be
...lIdu it heIshI.... PartJetpanllDr purposn
of dll8mIning 1M payment optIOns available under
_ 7.02, providod, _.. ....... po,....n.
_ -. ... "'__ry ............. for
pBymenII D Ihe Beneficiary ovw . period no longer
IMIn .. Ide _pecCancy of 1M Benelidllry. and
pnMdIcf ".r IUCh penod rrey not exceed fiftHn
(15) __ H "'-1icIoIr 10 not'" P_n.'o
....-.
(e) 11............... Bonoliclory dIo. beID..IlI.
"",-"'a.. benefitsh.. COlTlnlncedor been
camplllId. IhIt nMN.lning value of 1he ParudpBnl',
_....nbeDOid ......._.,... Bonofidory
in . kI,. 1Um. In IhI event IhaI .. PIIrtJc:ipBnl'.
...... illho Bonoficlary. pe,....nt ohaB bo_to
lie ...In slump un.
_7..U...... ;>-.........._: (0) In...
evenIln untn.......~ oc:cura,. PII~
Ic:ipon'"" """" to ... EmpIOJO' to ...... thoI
pelt of.. value 01 h, Account hi ill'8MOnably
ftMded ID laU" Ihe ern8I'glInc:y need. " IUCh an
oppIicaIionlo__torlll. Employer. "'P..O.
pontohollbo pood~...cII_nt""'Employer
__to......_"l'_.but
r.rment .... not be mede ID the .x_llhal Ihe
ranca.lta.dMip .,.,. be relieved ''II'ough CMM-
ton of dlr.nat under'" Plan. InUll'lCl or alhlr
NinDnlrnlnI. orrqufdalian of oIher...... to Ihe
..fIIn1IUChIlquidll'on wauldnolltldcauM~e
I__ip.
(b) An unfore-nrtH enwrgency IhaJI be_mad
.. Involve ani)' circumalllnc:el Of I8WW8 financ...
_,to'" Pwticipont ....lIing from."-'
....xpecIId .118'" !Kaden" or ckabillty of the
Parlldpanl or of. dependent (.. defined In Sedon
152(0) 01 tho Codo) 01 Ill. P"cipon~ .... .1 Ill.
Pal1lClpBnr. praperIJdue IDcasullty. MOther IiImI-
.... andexhDfdinary unlor 1.lntN arculNlllnc..
wiling..relUltatwentaberDndlh.conlJDloflhe
ParDc:ipant. TheneedlO..nd.Participanl'lchlldlD
.... or III purchuo . now homo ....1 not bo
conllMredunlll,....ble errwgenciel The deter-
risadan u .. ..1Mr 8Uch an unforeleMble
_~., oat.. _ bo boNd 011 ... _.r
each irMivictJeI cue.
_Ion 71" __ Rulo ..._,__
_:....._...tpriorto....uoryl'_.
. P8rtcipant or Benelc:iary hu oommenced ,..
COIVing _II _ . _, _ or hu
-blr_.permon'_or_1it
~amII1t dale. Ihen thai paymenlopdan or
........ ohaB romoIn In._ no-'-ng"",
_pnllFioionolIhloPlon.
MTlCLEY1I. _ASlIIGNABIU1Y
_lonUlln_l: ElcoptOlP'"'"'!or!InSodion
1.02. no Panici,:ant or Beneflciary Ih8II have an,
righllo carmull. .... allian. pledge, tan.. or
olherwi.. oonver or encu,,*-Ihe nghllo NC81V8
onypormonll_._permonloendnghll
aN 8IpnluIJ' dedared .. be non-eulgnable .nd
non..............
lleallon .... o.m-dc ReIeIIon. Order8: e.) Allow-
WICI of TrII'I_a: To 1M .xtenl naquired under a
IinoI judg..... doc.... or_ {IN:ludlng_1
at.pral*lY....ment..,...".nt) made pursuant
III I ... cbneltic ,elabOnI law, anr por1Ion of .
ParIicIpent'a Accounl rM,. be paid or..I.... far
paymenllll.spau... lamwrlpDUM.orchldalthll
participant WheN neceuary ID ranyoullhllllrm.
of IUCh an arcIw. . laparall Accounl WIt be
....b1i1hed will raspedID I\e IpDUM. fanner
spau... or child who thllll be enbded lit make
InveIrnenI Mlle.. with relp8Cllhlre1o in ...
IUftInwm.. the ParbClpanl; anramounllD..I
uidI for alpOu". former apou... or chid IhaII be
poid OU. 1ft . 10... DUm .. ... ....iool dolo ...,
_I. ..., ... poId to ...I'ortldpont ...10.. ...
order directi . d.lterent time . fDrm of pe)'fNnL
Nolhlng in tils.c1tDn than be conAued ID autho-
rize any amcMI'll 10 be dlllribuled uncIIr ... Plan .1
alinw or ina fonn ",alls notpennitt8d undarSecllon
'S7 01 tho Codo, lvi, poymon. _ to .......
oIIw thin ... P-'K:ipanl pul'IUanllll thiI s.c.on
ohoIl bo roducod tor roquirod Incomo"'_1eI-
ing:"'lac:1Iho. poyrnon. I...do to. 1*101I _
thin th. Paniciclanl rM' not poevent such JMIJI!*'I
from being I'ldud1b1e In ... wo- Inc:ame of the
participMt Iorwilhholding.nd IncamllaI repor1Ing
_"L
(b) Rei.... from U.billty to Participant The
........,.,.. ioIilotJ to P8I' _to. Ponic:Ipon'
Ihall be recb:8d 10 1M nt8n1 "I BrIDLIntI have
....npoidor...uidolar-'to._.
IDnnIr IfJOU'" or child pcnuanllD parasraph ea) 01
~II SecDan. No IUch banlfer lhafl be in~18d
_ Iho ~ or _.._.........
9fCMded with IBIi5tacDy IWidInce ""1 1M Em-
pIoror end Iho Admnis"""',,, __ from..,
Iurtho.doIm by 110 PorIIc:Iponlllilh _to ouch
amounta. The 'Pw1icipantlhllll be _med ID have
_Hd... E.....,.. and tho __.....
enr daimwilh f8IPIlCt So 8Uch arnDUnII. i'l BnJ' cae
.. which (~IlI. EmpIoyoror _1oJro... hoe......
_ Wllh logo! proc:o.. or._ joInod .. .
~I"ll....tingto__..~~"'_
...... he. ...... no.lied 01 tho ~"l' .1 ouch
....-ngln tho rnonn. proocr_ by Ill....,
tho jurildiction in which... ~ IS pondIng
tor IervIce afprocellln IUCh don or by mal tom
tho E_ or _...... .. tho porIc:iponr.
IuIknoMllNlinll __ end 1"'''' ForIicIpont
_to_on_oI........In.....-ng
fOllowing ... EmpIoror or _... fIorn ...
aIII~ ..-...,. thoPflln*lt"'. or
_.
(c'_ln ""_"110: Tho Em-
_ ond M...........' _ not be obIigoloCl to
.-ogoinolor...~.~_.
or__bod~ (0).."",1oglII
_ -MtI to'" oomi_oI. Portlc:ipo....
bonofiIo,unIoH...IuI.._oI_logoloc:tlon
~~ ... Pnrliclport. ..... .... .... ...
. lICtian(arInacbon)Ml....v.cau..
...~orAclni_""..inc:ur_.._.
.........ntol...__ bodloJvod ogoinll
IIoI'olllcoponl'o ......un! end Ihoroby roduce ...
En1>Iofor'oobliglllion" P8I' _to Iho Por1i...
pont. In tho ...... 01 OIl)' ..-ng '_lIng to
dIvarce. '1~llIatior.. orchid IUpport, Ihe Employer
and _...... ohoII be ..lhorizod .. d1......
Inforrnallon r~ ID II. PartICIpant. Account to
... Pnrtidpo.... 'pouoe. ..... ~... or c:Ilild
!:::"'ll",logoIropr-- 01... -,N.
1pDUM. or chIkQ. or Ill. courL
ARTICLE Ill. RELA110NSHP TO OTHER PLANS AND
EIFLOYIENT AGREEIlENlS
Thlo pion _ In _n .. .., ..... .......nt.
penIion. or benefit plan or IfIIIm pretend, '" .i..... or
_..Itor _od lor'" _ 01... E......,.,..
"""""'_ and por1lcIpo.... __ ohaB not ._
__0I0......",...... pIonor.,.__1ng
c:on"ned In ... Ptan ahd be .... ID COftItIIuI8 an
-_'-"OV--",,-,,"",
end ... E....".. IN to _ Of\' _pont... nghI to be
....nod In tho """ 0I1ho EmpIoror. Nor ohaB onyIhlng
_bo_tornodolythololmlol.",__,"
_or 00--. PooIidpont ond... Em-
p1_.
AR1lCLI! ll. AMENDMENT OR TERIIINA_ OF PLAN
Tho E.....,.....,oI.",_ornondlhl.PIon__
....lfllranlmillsuchamendmenlinwnbnQlD ....AchviItra-
tor 01100..30...,. pnor to 1lI.__0I..._
mM1I. Th.~ol" AdmiriIlralllrlhall not be NqUQd
1ft __ for ouch _.......... _.. but tho
Adminilhfor IhaIIblunder noabl"lg8lian ID cantin......
u Adminiilratorhlfeunder d .......rr OIIMof such ~
m8ftt. The E~ IN, al."" IIm8I8m'1naIl 1hI. Plan.
The AdmtniIbtor .,.,. at.,. ItrM prapDM an arNnd-
nwntlD....Planby anntrurnninwrillrelhftl"ntlld III the
Emplaper al .11 30 eII)'I beIore ... effective dale of the
arNIldmenI. Such ame,iOnMllhlIIl become affectve un-
1?0o. _.. ouc:h 3O-doy ponod, ... EmpIoror ....... tho
Adminil...tarinwnbnglha:llldI~lUCh__d1'MlI,
In which cuelUCh ."..Ildmellll shall not becom8 eltectiwt.
.. ........01..... dIHppr","" ... Adminis..lIlr _ be
under no abligalJon to canbnue ac:ti", .. AdninIItrator
hereunder 1I1h. Plan document alftllllUlIa an .,.,.... .1
end _._ .1 ... PIon .. prowl"'" IIdoptod tor tho
ErnpIoyer, "e ~II conIaIned herein IhaII beCome
aft'-=tIve onJanuarr 1. 1889. ard'" r.tnI of the precedil"G
Plan dacumenllhal remain in eIIec:t ''lrau~ DecMtber 31.
lO88.
&CIpIu mar be required III maintain the alllw of...
PIan..aneligibledllenedca~nplanundlwSectian
05701... Codo or .. COOW _ 0111., ."""-.18.... no
amencmenl or llminadon of the Plan .... dY811. ..,
Parliclpant 01 anr nl1'lI W11h I8Ip8Cl to co.".,..tIDn de-
.."od boforo... do. 01 tho _mentor _..lion.
AR1lCLE XI. APPLICAIILE LAW
Tha Ptan Ihd be conIlrUed under !he IaWl of ......
_ tho Employor 10 IocaIoCl end iI.._ohod willi ...
inIenI thai II mNllhe reqwrerrwra of an '"eligIble delarred
_bon pion" ..- Socoon 057 01 ... Codo, ..
amended The pnIVIIiona of Ih. Plan ..... bll~.ead
........,palllbll incanlllrml)'wilhlherequNmenlaof"l
.....n.
AIl11CI.E XI~
,.,." no......potIyollhl.pIon__be.....
.. 1M IaII eddr.. provided In wrfDreI from one parIy III
onoIh. pony, """ nolce.uchmoilod _I be_......... to
_......_by..cIIpot1y.
I
I
I
Resplution Number 4"'?~
EXHIBIT 2G:
DEClARATION OF TRUST
Appendix B
I
DECLARATION OF TRUST
OF leMA RETIREMENT TRUST
I
AIl1lCU! L_1lEflNI11ClIII
_IonU_:ThoNlIIIlIaI""TruaLu..-ond
_lid.....,. ill "" ICMA _T...l
_Ion 1.2 DoIIn_o: _..,... __II,
""1oIawInIl---""-"""-"
-ngo:
(01"- Tho ~ _10 In Soc:.an4.'
_.......-....._10-.
(It) Deferred Cornpenllltlon Plan. A."".
~bon planel.blilhedWlllllnIlIinedby
. _k: EmpI",. for "" pu...... .f providing
NdNNnent inc:omeand o1herdehtned benefllIlD Its
empIar.. In dIIa Wllh IhI ~Mtn at
MCfion 457 of.. IrUrNI AINtlnueCOde of '054,
u....-.
CC) Impla~.... naMtmpIolll8lwhopartidpeteln
Quolifiod PIons.
lei) Emplopr"""'. ".." a_led pu....nllD
an -a""""belwMnRC and. Public EmoIovet'
lor 1M purpo.. of invutil'1l and adrnini....ng hi
fundl...._ by ouch EmpI",..._
_110 Doforrod CO_...."'" ~..Wllh
ill ~.. or 1ft comec:lIon W11h .. Qualified
PIon.
lei Ou_ _.... CcIn.-. "..n....
enleredmlDbyhRlltirementTrullwilhinlurance
campen... ... pnw\deIlar agUIINnIeed rate 01
NlUm on inll.A,....~ .... ....rsuant .. luch
.........
(f) IeIlA. Th. lnternl.bone.1 City Management
A..~daWI.
III Ie_ T_ ThoooTruo__ by
""Public~"""in_W1lh""
prowI.IOM 01 5ecbDn 3. 1(a) hereof. are silO
-'''__.01''''_0101
0iI0c10.. allCMA.. Re.
(II) IIIhJ.A.n&ntAd". T'M1rwltm8nIAdvil.-...
en.. inID. CDnIradwith 1M Aebrement Truallo
__..lh_IO_.of""
TN" "'-'Y.
III _ThoPo_of..........._bhlhod
by lhelrT._A._.lAdviMr.1hI RnrernenITrul"
under Ihe IUpeMI@On of 1M Trua..... lor the
~=. of prawIlrig itl.8IImentI lor IN Trusl
at ""bile _...,.. T__ Tho.. TN_
_"'thoPilblk:E......,..............._
_tho..-.'_an3.1(.I_....fIlII-
_ ...._al_ EmpIo,....
lIll_IcE........,.,nu_NIIICE......,..._
.... u__ 01 "" QuIIifiocl PIoN.
CQ Public Emptor.r. A unit a. ltare or local
C"".===l .r "'" .. iIau_1y
~"'hoo . ~
Plan or . . Plan and hat IdCUlId ..
Dec....tion of Trull
(tII) Quollllod PIon. " pion ~ '" . Public
E......_for tho _ .fproviding_'
IncolM 10 Ita empIO,... Which _dlft.. the
",oIUlcotion ___ .1_ 401 01 tho
InlorMl_Codo.__
(n) He. TheInt8rr..diw..IC11y........._ihr . I' .,
RoII._._.. Co/poIoIIon:
eOlllellrelMft1 _. _ TN" ....hId .., ""
_tionalTruaL
CPI Tru., Poopott,. Tho amounl. hold In lh.
. Retiremenl Tru.t an behall of the Public
Employ.,. In connecllon with D.ferred
~IIonPlonoondan_l.flho _
~mpIopr TN... far ... lle"'1ve benefit 01
EmpIoyeea pur....nt ID OuIllISId Plana. The
Tru.. Propertr "'.lndu. enr Income reauI~
from .... IIWftIrnent till .. IIInOUI'U ao held.
e'll T-. Tho PubIc: E....... TNO_ ond
ICMAlRCTruo__bvhPllblICE_
lO..wu rnerrtNn of... BOlIrd afTru..... 01..
An,.,...,. TRIlL
. ARlICLE A. CREATION AND PllRPOSI Of THE TRUST;
OWNERSHPOf lRUST PROPERTY
SIclkan 2.t Craallan: ThlRdrem8l4TNltilc:reeledand
....bbahed by ....xecutiona'.... Dec:larabDn a'Tru"
"'''''TN'_ond''''PIlbllCE~
_1on2.2Pu_: Tho_.'IhoAlli_lTIuol
i. lit ~ide far .. commingled inveaIment of fundi
held boi the PublIC EmpIoyerI in COmec:tlOn WIth Ihew
Iloforrild Co_Don ord 0u0IIfi0d Fl.... Tho
TN'. Pra~ IhIIn be irMtated n ... Portfolio.. In
GIaranIeed h_l...llConIrac:ll, endlnother irMtst-
..... recommended ~ 1he tnvellmlnl Advi.., under
thooul!""riOoonof""_.ITN_ Nopo~oI""
T_~wUIbo_.._"InI...od'"
Publk:~
_Ion 2.3 -hID 01 TtuoI ..........,: Tho T_
_ hove _ tido 10 "" TN" PnlporIy. Tho PIlblic
E_oIioJIbolho__oItho_
of... TN" _ 01_10 h DoIerred Com-
_tion PIoni n. po_ 01 "" Truo. ~
'-10 tho lluoIiIIod PIono _ bo hold lor ""
PubIc: E",*"", T_.... """uolve _.1
tho E'"IlIoIMo.
I
ARlICLE Il TRUSTEES
_2.,,*,_.ndOU_0I_(.)Tho
brd 01 Tru..... _I CDnllII of nne Tru...... Five
of the Tru.....nl be tJl-...._.~,... of. Public
Em~ C'" Pubic ~ ' N.....) who ..
auhMiHdbrIUChPublicE~IDMNe..TfUI1II.
The,.,....nng taur TNtIllel .haI ODnIf.t of IWO pit:
... whI. al the time or eIKIXIn to the Board of
Tru...... .... rnem.r. of the brd d. 0wec:1orI of
IeMAond _ porso..""" """1...,_ ore
_oIthoBoonloflll_ofRC(""ICMMlC
Tru...... One 01 .. Tru..... who II . dlNIdDI of
leMA. .nd.....'''''T__I..di_oIRe.
Ihd. at...... 0I.-:tiDn. be ru..... ~...ol
. Public E......_.
(b) No perlOfl 1M, __ II. TNItiIe tar men hn
.... lor'" .. "'" ....,.. porIod.
_Ion 3.2 EIoclIon .,dTontI: (0) E_for.. Truo_
_lid 10 .. __ pulSUOllltD _ 3.5
hiIieof." TN....na be .I.~.d br. VOlt ofa
mojorilY.'''''PublICE~''__''''
_odU... ... """ .. .. 1Iy-lowo. (bl AI tho fir"
iIlllClionoITru.... ....Tru....nll beelecl8db
."""0I1tne.-.. threeTrul...lhdbeelecledb
. wmoltwa,..,. Md.... Tru........n be elected
far . term 01 ON ,..,. AI each IUbIequent eIedion.
....Trus...lhdbeelededlDr. .....oflhr..~
and unlll hll or her IUCC8IICW is tIec:I8d and quIIIIified.
_1.2__ n.T__......_
eft1lI_ of Publk: E"",,"- _ ..... u ""
Noinlrio~""_for""PIlbIIcE_T.....
.... Tho ',ling __ choOoo__
doIUIorPubllcE"""",""Truo_...-..lh
.....-..... """ In" Br-~
_ U IlooIgnoIIon ond_: (0) ktJTruOlOO
....,...ignuT......(wiIhol.t_IorI'!"'.._
-_u::r~-:::-in""~oIgnodbr
the Trule. to ". ... TMIMI .nit
_ NOia..1Ion .hoIll1o _upon ouc:fldol...."
or.. .Iolor do.. -.ding " tho _ of "" I.....
...... ,.",oIthoTruo_..,bo_forco_
"" . _ .f .1lIOjoriIy 01... Publk: E~ (b)
Each PublIC EmpIofoo T...... _ _No.. ""'
pooItion .. Truo'" ..!hIn oIlIlY do,. oflllo do. on
_ho..oho_lDbo.fuI_....,..aI.
PublIc EmpIoJer.
_Ian 2.1_: _....oIollIco.,.T......_
1Mnirw.1iI .nd. v.cancr.... occurln "'..m 01 the
daalh. *'anaDOn. ........ ad.iuclcltldi ICDITJpMance
or._IncODOCltY 10 pofIo!m"'cluDnof""oIlico 01
. T.,... In 1hi ca.. 01. vacancr. .. Nmalring
T...__oppcIInlouch_u...,.._
diocrotlonohon_fiI(ouIijOClIDIhoI__ooIforlh
InlhioSoc1ionl.lD_foi""UIlOIJIilOdpotllanol""
lorm 01 tho T...... _ No NIignod or .-
_lDbo.T_ __"hoIlbo
_",.wri_ino_oignid",.nwjarilyol""
TNa..... The person ..in*' InUIt be thei .me
!YPeoITNle.(Le.. PubllcEmpIoyeeT""..orICMN
AC Trua_) .. .. pnon .-hu CIIUId to be .
TruIloO. Anoppoi_of.T_..,IIo_in
....c:ipalion of . ncancr to OCCU' III . .... cllile bv
rwuon of MtI.~or,.lgnalion. pnMded lhIteuch
.~lnlrMnt ...n ...1 beconw 6CIive prior.. such
reliNmlnlor rniOnDon. WhenIver. ww:anc:y in 1M
_oITruo_ ....oc:cur. unII....._1o
tiled _ pnllIidod .. IhIo _n 3.5, .. T....... In
oIIico. ___ 01_ _. _.... 011 ""
__ gionlod10 thoTruo_ord__....n
"'_I~upon""T_brIhloDocl....
-. ,,_ ...__lyinglhO...._.'
__oignod",._ofIhoTruo__
be 0DnCI..W. ~ 01& .___ 01 auc:h va.
_.
_UTlu_.....In~CopIC.,:
., ..-lIng ... DocIo....... _ NIIk: E_
ag_..ltho_ -..T__",
.._E_...liutIiorizodlDlCluogonlo
.... __ of tho PIlbIIc EmpIorors _
-,.
AIl11CLI! IV. POWERS OI1RLSTID
_..,__: _Truo_ohoIlho..tho
_1D_..buoI....of..Truotond10 corrr
onllo_IIonL ___incIudt.lIUlohol
notbo_...tho_lO:
(8) .-.. 11Io Truolsero /rom tho Public
E.....".,.,_ T_.._
T_oI"",EqIIo,., _
(lo1_1nIo._w1lh.n___
provIdIng.__.........Iho__
iInd --'on Of "" -..., _ .r ""
GuaranIeed Irw'lIImenI Connell In which ...
Truol ~ _ bo _loll _an.l...
_1.~h......1ar "" Truot Piiiiiiiir ond ""
"_101__10""__1
_ondtD..,,_odwI.._
_..trw.........ltAdvlMr;
(cI __......,tho...................__
__ ond __......, "" _...,
8UCh Im_Al...Il~
Resolution Number
~..(.,.(.r-
(cl) _. ond __I ... Truo. Proporty In lie
Po_OI,... GuoIon_In_ConoacIaond
In on, 0_ _.... .-"""'"'*1 .". ...
IrweaInwnt AdItiMr. but not In:ludl~ MCUrttiM
Ioouod br "'- EmpIoyo!o __... W .
Public Erilplorar hu _lid lNllls moniN be
_In opocIftedPortroioaorln.__
InV.'Im~1 Contract" the Trul.... of Ihe
AMIrwment Trull aNI Invwt Iuc:h monI.. in
_1Ii"'_dirodiorlo;
lal__porIionof...Truolf'!aPoll1ln_at
__u..Truo-.fnlrn_........
IN, dNm .. ., In the belt In.....t at the
_Truot_lIdhorobr_1IobI1ltJ
""_.-=
(I) _ond_lar__ulhor",doom
--OIY-or_l"O/lOIlY_
at _rod .". ..... u Truo_ _under.
wNlher or not IUCh MCUnHe or 0.... ~
....... -I)' be purchoood u I_I
_.
l8I_~_or_=_uparl
of... T..... ,,",-.. bo 109_ In'" na...
afIhlAn......"tTfUltOl"In..Nm8o..no......
ond..hald'''l'__In_hom,but...
book.endrecOnf.o...Tru....lhall.tlllltfnw.
8how h. .. IUCh nv.tnen..... . pM of Ihe
TRIll ""'porty:
(II) nwke.ellecute,aclaliGlll/ld;.I,MddelMrqllnd
all docIJmet ,lIot .,.".terIf'idCOI"NeyanCIIIrif any
andallolhetlna",,"**lhI.tml)'Hneceueryor
_io......II)'......._horeingronlod:
IQ .....l4lDn OIY IIodc, bondo, or 0_ _I:
...gonDIOiorljllClol......or_ofollllrnOl'
with Dr IMNut ponrollUblldullDn;exerdleany
_k>nprivologoo,-",,::::':ioro-
opIio...ond....onr_.' _:
oppctH, or conaenl to. ora..... Darlidplte1n.
ClDrport.le fWtglllizationl or tt oitw ~
affecllng corpa,.. HCUrlti... and delegate
diIc-...y_andpo,onr""""'roor
chorgoo In connoc:llon _Ill; and ---'IV
elC8l'ClIe II">>' 01 Ihe powet'I of an owner with
rftp8Ct III IIDckI. banda. MCUriliH or odw
pnlporty _ u pari of... T_ """*":
CD en"lnlDconnc:IaD'~.lorgaodlor
IIIf'IIcn required In CDI.lICtiGn WlIh the opem.an
0'''' RotiromontT_lIICIudI..,1lul ....bmItod
Ill. conlractl W1thCUltDdllnl endconlractllor...
praviliDn of acm.rillrali'le ..vicn:
(10 batTDW or Mi. n:tD"Ir lor .. purpa... of ..
ReD,.,... TMtin IUChMtOUnt. and l4IOfIlUCh
IIrmI Met conditIOn.. u" TM'" wn dMm
-. pravIdod..I...._...mounlof
IUCh bonowIna. "'1 not elCelCt 30% of ..
voluo of... -r_ Praoortv. No _n Ionding
......., OJ tho Truo_ihaRbo_ ........
_lciIItion of... monor '011I or..1nquft inIo ""
vilfod'l)'. .Ipodo"""l' or _ or OIY _
.....-.:
(I) Incw __ _ u IOqUINd "" lie
_liono...._T_onddoducllUCh
___ 110m 0'''' T_"'-'r.
(In)pa,___l!')llMIltJoIIocollIofD "TNIl
Pnif*tY IncwNC:Iln corineclJon'Mlh .. Defend
ComponUDon Plana, 9uUfted Plana. or "'.
EmplOyer TNltln aeaud.uch...... tram
thoporlionof..T_"-!rfD__
e~ a.. praperIy docabII:
(n) po'outof...Truol"-!r......ond..........
"",__I-.........__of
~ and .. IcInc10 ""~h, In ... opinon o. lie
Trultee.. .... DfODIfIy levied. or......-d Inier
existing or futLn I.wi upon. or in NIP8Ct of. Ihe
Truol ~ ond .'Ioco"1Ift IUCh.........
~.._.....:
Ia) odo... omandand ~...llrt-. pravIdod'"
euch ...... .. at all IIrN1 ClOftIIIWd whh ..
.... .,... DocIorotian., Truot
lPl~_"___.In'"
RoIiroinonITruol.._ollgiblo.._1n
._Co__"...l'Ion"-_457
or.Ouo&ftedPlon..-_40' of"'_
......r".. Code... amended:
Illlluuo"'_ Roportof...RolL_,..n_
.......d1_....._.. and 0_1_
......". 1leR....._4Truot
I" .... ...... including ... pu,"""oo o. debt
""igII_..-"",.oU____
.... at tie currwr& market ralr.
1.1 _ ..... and ........ ..., _ gronIod
hnunder 10. IUCh ofbra. gentl. ~
audllDraand"~, u ttwTNI.... Ny MIecr.
pravIdod .... ... Truo_ .., nol _10 ...
_OOIlor1hlnpanlllrophoCII.Cclandlilloflhil
_ '.1 and mar not doIogo...... _"
IUChd,'ll" ,wouldviolale1NirtlctlClaiy(l,Ii..:
111 _Iar ...1_ft..1ion 0'''' 011........
TlUlteeI of IhI FIet5...._4 TruIt and purc::hue
~-:
lul naln10in _ ond recoldl, Including _..10
_br_PubllcEIllpIopr,P.-E.....,.,
Tna_ or Employer Truet n IUCh ..a.lloNl
......18 eccounla al aN ntqUired under. and
c:anlllllnt wUh. the Deferred Campen.don or
OuoIIfied pion of ooch Publoc ErnpIoror: .nd
I'" cb In IUCh .... Ilk. .11 IUdl ...-ngl. ....
..erct.. allluchri~and privittigu.llthaugh not
ID8CiIic:aIfv mendcin herein. .. the TNlIeea ~
diItm ~ or appoapriallllO IIdmlrlll'" IN
TnaIPropor1)oOnd.. -.y out" __of'"
Ro'_,_~T_
....IonU__o'rruIlPnlpoo1y: Dillributio...f
.. Truolpnl_....' be modo... oron _Wot...
Public EmDIoyerorPubllc Employer Trultee.ln ac:cor.
.,. ..If. the IltrmI at the Deferred Corf1Nt"..1Ion
Plan&. OuIIlfied PIanIor Employ. TtUltI. The Trull-
"I of tie ReIlNmll'lI T lUll ilhliU be July pralKted iI
moIcIngpoymonllln____..__of
... PUbllCfEmoIororo. P....~ EmflloP.r T...- or
ollW'TtUllMot.. Employer TrultI WlIhouI ucerIIIIn-
Ing___.........mp".__...
_Ion of ... DoIornld Componution .r OUll,1ied
PI.... or'" ........_ .Il. orooting'" Emploror Truoll.
_IonUE_nollnalrumonla: ThoTruo_..,
~"te any one or more of" Trull.
..lit eHCUle anr InaIrunWd or docurnenI on beNIf
of "'lncIuclng but.... Urnilocl.. "1Igning or ondotoo-
monI 0' onr chock"" !ho oignlng of onr .ppIi........
_ And 0__ ond.. ocIion o'ludl
~ True... or-YNI....IhaII...... ume
_...._.WlIkon.".oI1..Truo-.
AImCLI! Y. DUrY OF CARl! AND LIAIIlUTY OF
__18
IectIan .., Dutr at c...: In e.8fCiling the PO'"
'_..A.b.-lare ~nIId lD hi TNI..... .. TNIIeU
_ por1orrn all .... _in 1IICoi, lIUIhorilV Iar ...
___of_i~~.br"'Publlc
ErnpIopnIln.._ iii'" Corrc>onoobon
PlaMindPublicEmDIov..Trueteelp.lrllanllD Cud.
led PIono, ond _ pOrIonn ...... .....'" "'_.
llcIII.~ondclligonc.in"'__
......ng....prudon......onocDng 1n.lko_Cl\)'
and___wiIh IUChrnallllr.wauldUHintle conduct
ofan",.,~of." chmac....ndwlthltke.....
_nUu._allr:lhaT__lno.bololllobronr
_koolJudlj_or._oclion_lngoodllllli.
and lor aniKBon .kenorDmlned In relIanCe Inaood
IoIIh upon'" llookoof_or_.-rdI 01...
RotI_TNO~""'" ....pinIon 0'''''''''. or upon
_........ _......4 Truot ""1Ift of ""
afficIra. _,,,,,,,,, or qenla or bv .. n.MIIIM
AdvIHr Dr ant IUb-InvwIment ....... acco.......lI.
apprai.....Drolher..~or conIUttanlHlecledwllh
_...."""'T__oromplopoo
of...__TRIIl. ThoT_....'_nolbo
...Ior .., Iou _lained " the T.,.I Property by
_.,.,.,__In goedllilhoridln
__..._of....OOIbr1h1n
SocIion 5.1.
_nU_:NoT......_boollligolod.....1"l'
_.r__tybr"'portonnOraofonrofl1lo
or....__.
AImCLI! VI. ANNUAL REPORT 10 SHAREHOLDERS
The TN__1IfoaI1 annLaIly ..anillll h PubliC EmpIoyerI
and"""'oc E",,*,rorTruo_. ___ _of tho_
1IonI of IN Rellrimlnl TNlI, Including IN.rc. I..a.n.ntl
which Ihd be certified by ~enl publiC accaWt1an1l
...._ br'" Truo_.
AImCLI! W. DUllA110N OR AMENDMENT lIP
II!T1_ENT TRUST
_n'.1__I:A"'-E~or_~E...
pIoyer TNIIM may. al any time. wllhchw from 1hiI
Reilr8l'l'lentTNltbv' deI~ 10 h80.rdofTNI....
. written .taltmeni of withdrawal. ., IUCh ItI.IemenI,
... Public Employer or _,c Empbror TNOtoo .....
ackllOwfldOI IIwllhe Trull ~ .1I0c.. III ..
PuIlIc EmpIoyor io _ Inlm ..mponoolon ..
_br_or__or_PuIllocE__1
" itI Deferred COm..,.bOn Plan or tram ccnibu-
tIonl III Ihe lICCGuntl of EmpIopet purI~nI III .
QueIIleeI Plan. and .hall delianal8 the finlncaal inllltu-
lion .. wIliclllucll pnlporty ft. bo ....""led br ...
T_ of... RoIIrernonl TRIll or.".... Truotoo of
... E.....oror Truo.
IJecUon7.2DuNtIon: 1heAtllMfMntTNlllhllconlinue
WdII tInnI__ by' the valt of a...rfIy of the PublIC
E~. -.cheating anew... Upon ....ninllion.
.. of'" T_ Pro_ ..... lie paId.ut.. ... Publoc
EmpIoyera, Public Employer T rullMI or !he T,......
of'" employor T..... u opfICOpfiI...
_n ,,, Amondmonl: Tho ~Iio......l T_ !"oy bo
_ br .........,.lllIjorilyo,... puIIIoc EmPIor-
... each calling one vale.
_nU_..:A_uIionfD_..or_
IhI AeIiremenI Trwt or III rMnOIIe a Trwtw JhaII be
_........ .,... PullIoc Empl~ II:~).
mljanty' of .. Truateel 10 direct. or; (ii) a pelllion
~ ..... oignoll"" no. I... ..12S _I of
"'1'lAII1c ~ _ IUbmlIlod ..!hoTruo.....
IIl1lCUl YlIL IIlSCELLANEOUS
_1onL1 GovomIngL_: E_uo___
by Illite orlcallliw.lhi. DecfaraIionofTNIland the
~_ Truo. hoNbJ'.....1ocI _ bo_
.........IocI.". ... _ 0'''' D111ric\ of Co_
_bn I.lI a,_".: Tho Doc....1Ion nay bo.1-
_."....PutilocE_ondT...._In....or
men counterpar1a. .-char which ....11 be dMmId 11ft
orignll but .. or which 1DgIl'* .... COnltilute one
and the .....lnaIrumInL
I
I
I