HomeMy WebLinkAboutResolution 562 Pension Plan
RESOLUTION NO. 562
A RESOLUTION OF THE CITY OF WINTER SPRINGS, FLORIDA,
ADOPTING THE FIRST AMENDMENT TO AMENDED AND RESTATED
MONEY PURCHASE PENSION PLAN AND TRUST FOR EMPLOYEES
OF CITY OF WINTER SPRINGS; PROVIDING FOR SEVERABILITY;
CONFLICTS AND EFFECTIVE DATE.
WHEREAS, the City Commission deems it to be in the best interest
of the City of Winter Spri~gs, Florida to amend the Amended and Restated Money
Purchase Pension Plan and Trust for Employees of City of Winter Springs;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
THE CITY OF WINTER SPRINGS, FLORIDA:
SECTION I: That the first amendment to Amended and Restated Money
Purchase Pension Plan and Trust for Employees of City of Winter Springs as
attached hereto as Exhibit "A" is hereby adopted.
SECTION II: This resolution shall remain in force and effect until
supplemented, amended, repealed or otherwise altered.
SECTION III - All resolutions or parts of resolutions in conflict
with this resolution are hereby repealed.
SECTION IV: This resolution shall take immediate effect upon its
passage and adoption.
Passed and adopted this 12th day of January, 1987.
CITY OF WINTER SPRINGS
JOHN V. TORCASO, MAYOR
ATTEST:
Mary T. Norton
CITY CLERK
FIRST AMENDMENT TO
AMENDED AND RESTATED MONEY PURCHASE PENSION PLAN AND TRUST
FOR EMPLOYEES OF
CITY OF WINTER SPRINGS
CITY OF WINTER SPRINGS, a municipality incorporated
under the laws of the state of Florida, as Employer, and THE
BOARD OF TRUSTEES OF THE CITY OF WINTER SPRINGS, as duly
appointed by the City Commission, as Trustee, hereby agree and
consent this 12th day of
JANUARY 1987
to amend the Money
Purchase Pension Plan and Trust entered into by and between the
parties hereto effective October 1, 1982, as amended and restated
in its entirety as of October 1, 1984, this First Amendment also
effective October 1, 1984, as follows:
1. Article I, Section 1.07 is hereby amended by de-
leting the first sentence and substituting the following in lieu
thereof:
"'Compensation' means total compensation
paid or accrued by the Employer to an Employee
during his period of participation in a Plan
Year, including regular salary and wages,
overtime pay, bonuses and commissions."
2. Article III, Section 3.02 is deleted in its
entirety and the following is substituted in lieu thereof:
"3.02 Time of Payment of Contributions.
The Employer shall pay to the Trustee its
contribution to the Plan for each Plan Year in
one or more installments, with all contribu-
tions to be made within the time prescribed by
applicable law."
Except as hereinabove modified and amended, the Amended
and Restated Money Purchase Pension Plan and Trust shall remain
unchanged and shall continue in full force and effect.
Signed, sealed and delivered
in the presence of:
EMPLOYER:
CITY OF WINTER SPRINGS
Mary T. Norton By: Richard Rozansky, City Manager
City Clerk
As to Employer
TRUSTEE:
BOARD OF TRUSTEES OF THE CITY OF
WINTER SPRINGS
By: John V,. Torcaso, mayor
Janet Harper
Clerk
As to Trustee
PROFESSIONAL ADMINISTATOR:
ECS, INC.
By: Terry R. Wood, President
Cynthia P. Tucker
Clerk
As to Professional
Administrator
(CORPORATE SEAL)
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