HomeMy WebLinkAbout2016 Resolution No. 045•
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RESOLUTION NO. J/s'
SERIES OF 2016
A RESOLUTION AMENDING THE CITY OF ENGLEWOOD'S ICMA-RC
NONEMERGENCY EMPLOYEES MONEY PURCHASE PLAN (PLAN), NUMBER 108371.
WHEREAS, the City of Englewood has established the ICMA Retirement Corporation
(ICMA-RC) NonEmergency Employees Money Purchase Plan, Number 108371, which benefits
employees by providing funds for retirement and funds for their beneficiaries in the event of
death; and
WHEREAS , the City desires that its money purchase retirement plan be administered by the
ICMA-RC; and
WHEREAS, the assets of the Plan will be held in trust, with the Employer serving as trustee
for the exclusive benefit of Plan participants and their beneficiaries, and the assets shall not be
diverted to any other purpose; and
WHEREAS, the Trustee's beneficial ownership of Plan assets held in VantageTrust shall be
held for the further exclusive benefit of the Plan participants and their beneficiaries; and
WHEREAS, the United States Internal Revenue Service requires certain amendments to be
included with the ICMA-RC Governmental Money Purchase Plan and Trust Adoption
Agreement for Plan, Number 108371, in order to continue the qualified status; and
WHEREAS, the passage of this resolution by the Englewood City Council authorizes the
amending of the City of Englewood 's ICMA-RC NonEmergency Employees Money Purchase
Retirement Plan, Number 108371.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ENGLEWOOD, COLORADO, THAT:
Section 1. The City Council of the City of Englewood, Colorado hereby authorizes amending
the ICMA-RC NonEmergency Employees Money Purchase Plan for NonEmergency Employees,
Number 108371, to bring the Plan into compliance with the United States Revenue Service,
attached hereto as Exhibit A.
ADOPTED AND APPROVED this 16th day of February, 2016 .
I, Loucrishia A. Ellis, City Clerk for tJitJ:ity of Englewood,
above is a true copy of Resolution No. _'-IS __ , Series of20 6 .
ICMA RETIREMENT CORPORATION
-GOVERNMENTAL MONEY PURCHASE PLAN & TRUST .
ADOPTION AGREEMENT
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ICMARC
BUILDING PUBLIC SECTOR
RETIREMENT SECURITY
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ICMA RETIREMENT CORPORATION
GOVERNMENTAL MONEY PURCHASE PLAN & TRUST
ADOPTION AGREEMENT
Plan Number ~32..!_ __
The Employer hereby establishes a Money Purchase Plan and Trust to be known as NonEmergency Employees MoneyPurchasePlan
(the "Plan") in the form of the ICMA Retirement Corporation Governmental Money Purchase Plan and Trust.
This Plan is an amendment and restatement of an existing defined contribution money purchase plan.
IZIYes □No
If yes, please specify the name of the defined contribution money purchase plan which this Plan hereby amends and restates:
NONEMERGENCY EMPLOYEES MONEY PURCHASE PLAN
I. Employer: CITY OF ENGLEWOOD, CO.
II. Effective Dates
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liJ 1. Effective Date of Restatement. If this document is a restatement of an existing plan, the effective date of the
Plan shall be January I, 2007 unless an alternate effective date is hereby specified: _______ _
(Note: An alternate effective date can be no earlier than January I, 2007.)
D 2. Effective Date of New Plan. If this is a new Plan, the effective date of the Plan shall be the first day of the Plan Year
during which the Employer adopts the Plan, unless an alternate Effective Date is hereby specified:
3. · Special Effective Dates. Please note here any elections in the Adoption Agreement with an effective date that is
different from that noted in I. or 2. above .
(Note provision and effective date.)
III. Plan Year will mean:
D The twelve (12) consecutive month period which coincides with the limitation year. (See Section 5.03(f) of the Plan.)
IZJ The twelve (12) consecutive month period commencing on _J_A_N_U_A_R_Y_1 _______ and each anniversary thereof.
rv. Normal Retirement Age shall be age _§M._ (not to exceed age 65).
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Important Note to Employers: Normal Retirement Age is significant for determining the earliest date at which the Plan may
allow for in-service distributions. Normal Retirement Age also defines the latest date at which a Participant must have a fully
vested right to his/her Account. There are IRS rules that limit the age that may be specified as the Plan's Normal Retirement
Age. The Normal Retirement Age cannot be earlier than what is reasonably representative of the typical retirement age for the
industry in which the covered workforce is employed. An age under 55 is presumed not to satisfy this requirement, unless the
Commissioner oflnternal Revenue determines that the facts and circumstances show otherwise.
Whether an age between 55 and 62 satisfies chis requirement depends on the facts and circumstances, but an Employer's good
Money Purchase Plan Adoption Agreement
Whether an age between 55 and 62 satisfies this requirement depends on the facts and circumstances, but an Employer's good
faith, reasonable determination will generally be given deference. A special rule, however, applies in the case of a plan where
substantially all of the participants in the plan arc qualified public safety employees within the meaning of section 72(t)(l0)(B) •
of the Code, in which case an age of 50 or later is deemed not to be earlier than the earliest age that is reasonably representative
of the typical retirement age for the industry in which the covered workforce is employed. ·
V. ELIGIBILI1Y REQUIREMENTS
1. The following group or groups of Employees are eligible to participate in the Plan:
_ All Employees
_ All Full Time Employees
_ Salaried Employees
_ Non union Employees
_ Management Employees
_ Public Safety Employees
_ General Employees
_{_ Other Employees (Specify the group(s) of eligible employees below. Do not specify employees by name. Specific positions arc
acceptable.) MID-MANAGERS, SUPERVISORS,coNF IPENTIALS & NON-EXEMPT NONEMERGENCY
EMPLOYEES
The group specified must correspond to a group of the same designation that is defined in the statutes, ordinances,
rules, regulations, personn~I manuals or other material in effect in the state or locality of the Employer. The eligibility
requirements cannot be such that an Employee becomes eligible only in the Plan Year in which the Employee terminates
employment. Note: As stated in Sections 4.07 and 4.08, the Plan may, however, provide that Final Pay Contributions or
Accrued Leave Contributions are the only contributions made under the Plan. * SEE ATTACHMENT # 001
2. The Employer hereby waives or reduces the requirement of a twelve (12) month Period of Service for participation.
The required Period of Service shall be (write NIA if an Employee is eligible to participate upon
cmploymcnt)_N_IA ______ _
If this waiver or reduction is elected, it shall apply to all Employees within the Covered Employment Classification.
3. A minimum age requirement is hereby specified for eligibility to participate. The minimum age requirement is~ (not
to exceed age 21. Write NIA if no minimum age is declared.)
VI. CONTRIBUTION PROVISIONS
1. 1he Employer shall contribute as follows: (Choose all that apply, but at least one of Options A or B. If Option A is ru2t
selected, Employer must pick up Participant Contributions under Option B.)
Fixed Employer Contributions With or Without Mandatory Participant Contributions. (If Option B is chosen, please
complete section C .)
121 A. Emplqyer Cqntributions The Employer shall contribute on behalf of each Participant ___ 7_% of Earnings or
$ N/A for the Plan Year (subject to the limitations of Article V of the Plan).
Mandatory Participant Contributions
121 arc required O arc not required
to be eligible for this Employer Contribution.
IZJ B. Mandatory Participant Contributions for Plan Participation,
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Required Mandatory Contrjbutions. A Participant is required to contribute (subject to the limitations of Article V •
of the Plan) the specified amounts designated in items (i) through (iii) of the Contribution Schedule below:
IZJ Yes □No
Money Purchase Plan Adoption Agreement 2
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Employee Opr-In Mandatory Conrrjbutjons. Each Employee eligible to participate in the Plan shall be given the
opportunity to irrevocably elect to participate in the Mandatory Participant Contribution portion of the Plan by
electing to contribute the specified amounts design~ted in items (i) through (iii) of the Contribution Schedule
below for each Plan Year (subject to the limitations of Article V of the Plan):
0 Yes
Contribution Schedule
(i) __ 3 o/o of Earnings,
(ii) $ NIA , or
(iii) a whole percentage of Earnings between the range of N/A (insert range of
percentages between 1 % and 20% inclusive {e.g., 3%, 6%, or 20%; 5% to 7%)), as designated by the
Employee in accordance with guidelines and procedures established by the Employer for the Plan Year
as a condition of participation in the Plan. A Participant must pick a single percentage and shall not have the
right to discontinue or vary the rate of such contributions after becoming a Plan Participant.
Employer "Pick up". The Employer hereby elects to "pick up" the Mandatory Participant Contributions1 (pick
up is required if Option A is not selected).
l2J Yes 0 No ("Ye.r" is the default provision under the Plan if no selection is made.)
□ C. Election Window (Complete if Option B is selected):
Newly eligible Employees shall be provided an election window of ~days (no more than 60 calendar
days) from the date of initial eligibility during which they may make the election to participate in the Mandatory
Participant Contribution portion of the Plan. Participation in the Mandatory Participant Contribution portion of
the Plan shall begin the first of the month following the end of the election window .
An Employee's election is irrevocable and shall remain in force until the Employee terminates employment or
ceases to be eligible to participate in the Plan. In the event of re-employment to an eligible position, the
Employee's original election will resume. In no event does the Employee have the option of receiving the pick-up
contribution amount directly.
2. The Employer may also elect to contribute as follows:
0 A. Fixed Employer Match of Voluntary After-Tax Participant Contributions The Employer shall contribute on behalf
of each Participant_% of Earnings for the Plan Year (subject to the limitations of Article V of the Plan) for each
Plan Year that such Participant has contributed __ % of Earnings or $ ____ ,, Under this option, there is a
single, fixed rate of Employer contributions, but a Participant may decline to make the required Participant
contributions in any Plan Year, in which case no Employer contribution will be made on the Participant's behalf in
that Plan Year.
0 B. Variable Employer Match of Voluntary After-Tax Participant Contributions The Employer shall contribute on
behalf of each Participant an amount determined as follows (subject to the limitations of Article V of the Plan):
__ o/o of the Voluntary Participant Contributions made by the Participant for the Plan Year (not including
Participant contributions exceeding __ % of Earnings or $ ___ __,
1 Neither an IRS advisory letter nor a determination letter issued to an adopting Employer is a ruling by the Internal Revenue Service that
Participant contributions that are "picked up" by the Employer are not includable in the Participant's gross income for federal income tax
• purposes. Pick-up contributions are not mandated to receive private letter rulings; however, if an adopting employer wishes to receive a
ruling on pick-up contributions they may request one in accordance with Revenue Procedure 2012-4 (or subsequent guidance).
Money Purchase Plan Adoption Agreement 3
PLUS ___ % of the contributions made by the Participant for the Plan Year in excess of those included in the
above paragraph (but not including Voluntary Participant Contributions exceeding in •
the aggregate __ % of Earnings or $ ___ ).
Employer Matching Contributions on behalf of a Participant for a Plan Year shall not exceed
$ ___ or __ % of Earnings, whichever is_ more or_ less.
3. Each Participant may make a voluntary (unmatched), after tax contribution, subject to the limitations of Section 4.05 and
Article V of the Plan:
□Yes IZJ No ("No" is the default provision under the Plan ifno selection is made.)
4. Employer contributions for a Plan Year shall be contributed to the Trust in accordance with the following payment schedule
(no later than the 15th day of the tenth calendar month following the end of the calendar year or fiscal year (as applicable
depending on the basis on which the Employer keeps its books) with or within which the particular Limitation year ends,
or in accordance with applicable law):
Bl-WEEKLY
5. Participant contributions for a Plan Year shall be contributed to the Trust in accordance with the following payment
schedule (no later than the 15th day of the tenth calendar month following the end of the calendar year or fiscal year {as
applicable depending on the basis on which the Employer keeps its books) with or within which the particular Limitation
year ends, or in accordance with applicable law):
Bl-WEEKLY
6. In the case of a Participant performing qualified military service {as defined in Code section 414(u)) with respect to the
Employer:
A Plan contributions will be made based on differential wage payments:
0 Yes l2J No ( "Yes" is the default provision under the Plan if no selection is made.)
If yes is selected, this is effective beginning January 1, 2009 unless another later effective date js filled in here·
B. Participants who die or become disabled will receive Plan contributions with respect to such service:
0 Yes l2J No ("No" is the default provision under the Plan ifno selection is made.)
If yes is selected, this is effective for participants who died or became disabled while performing qualified military
service on or after January 1, 2007, unless another later effective dare is filled in here·
Money Purchase Plan Adoption Agreement 4
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VII . • EARNINGS
Earnings, as defined under Section 2.09 of the Plan, shall include:
1. Overtime
0 Yes
2. Bonuses
□ Yes 12JNo
3. Ocher Pay (specifically describe any other types of pay to be included below)
LONGEVITY
VIII. ROLLOVER PROVISIONS
• IX.
1. The Employer will permit rollover contributions in accordance with Section 4.12 of the Plan:
l2J Yes 0 No ('%s" is the default provision under the Plan if no selection is made.)
2. Direct rollovers by non-spouse beneficiaries are effective for distributions after 2006 unless the Plan delayed making
them available If the Plan delayed making such rollovers available, check rhe box below and indicate the later effective
date in the space provided.
0 Effective Date is _____________ _
(Note: Plans must offer direct rollovers by non-spouse beneficiaries no later than plan years beginning after
December 31, 2009.)
LIMITATION ON ALLOCATIONS
If the Employer maintains or ever maintained another qualified plan in which any Participant in chis Plan is (or was) a
participant or could possibly become a participant, the Employer hereby agrees to limit contributions to all such plans as
provided herein, if necessary in order to avoid excess contributions (as described in Section 5.02 of the Plan).
1. If the Participant is covered under another qualified defined contribution plan maintained by the Employer, the
provisions of Section 5.02(a) through (e) of the Plan will apply unless another method has been indicated below.
0 Ocher Method. (Provide the method under which the plans will limit total Annual Additions to the Maximum
Permissible Amount, and will properly reduce any excess amounts, in a manner chat precludes Employer discretion.)
2. The Limitation Year is the following 12 consecutive month period: ________________ _
3. Unless the Employer elects a delayed effective date below, Article 5 of the Plan will apply co limitations years beginning
on or after July 1, 2007. ________________ _
(The effective date listed cannot be later than 90 days after the close of the first regular legislative session of the
• legislative body with authority to amend the plan that begins on or after July 1, 2007.)
Money Purchase Plan Adoption Agreement 5
X. VESTING PROVISIONS
The Employer hereby specifies the following vesting schedule, subject to (1) the minimum vesting requirements and (2) the •
concurrence of the Plan Administrator. (For the blanks below, enter the applicable percent -from Oto 100 (with no entry after
the year in which 100% is entered), in ascending order.)
XI. WITHDRAWALS AND LOANS
Period of
Service
Completed
Zero
One
Two
Three
Four
Five
Six
Seven
Eight
Nine
Ten
Percent
Vested
0%
0%
25 %
50 %
75 %
100 %
100 %
100 %
100 %
100 %
100 %
1. In-service distributions are permitted under the Plan after a participant attains (select one of the below options):
0 Normal Retirement Age
l2J Age 70½ ("701/2" is the default provision under the Plan if no selection is made.)
D Alternate age (after Normal Retirement Age): _________ _
0 Not permitted at any age
2. A Participant shall be deemed to have a severance from employment solely for purposes of eligibility to receive distributions
from the Plan during any period the individual is performing service in the uniformed services for more than 30 days.
D Yes 111 No ("Yes" is the default provision under the plan if no selection is made.)
3 . Tax-free distributions of up to $3,000 for the direct payment of qualifying insurance premiums for eligible retired public
safety officers are available under the Plan .
D Yes li1 No ("No" is the default provision under the Plan ifno selection is made.)
4. In-service distributions of the Rollover Account are permitted under the Plan, as provided in Section 9.07.
0 Yes l2J No ("No" is the default provision under the Plan if no selection is made.)
5. Loans are permitted under the Plan, as provided in Article XIII of the Plan:
111 Yes D No (''No" is the default provision under the Plan ifno selection is made.)
Money Purchase Plan Adoption Agreement 6
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m . • SPOUSAL PROTECTION
The Plan will provide the following levd of spousal protection (select one):
D 1. Participant Directed Election. The normal form of payment of benefits under the Plan is a lump sum. The
Participant can name any person{s) as the Beneficiary of the Plan, with no spousal consent required.
1£1 2. Beneficiary Spousal Consent Election (Article XII). The normal form of payment of benefits under the Plan is
a lump sum. Upon death, the surviving spouse is the Beneficiary, unless he or she consents to the Participant's
naming another Beneficiary. (" Beneficiary Spousal Consent Election" is the default provision under the Plan if
no selection is made.)
D 3. QJSA Election (Article XVII). The normal form of payment of benefits under the Plan is a 50% qualified joint
and survivor annuity with the spouse (or life annuity, if single). In the event of the Participant's death prior to
commencing payments, the spouse will receive an annuity for his or her lifetime. (If C is selected, the spousal consent
requirements in Article XII also will apply.)
XIII. FINAL PAY CONTRIBUTIONS
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The Plan will provide for Final Pay Contributions if either 1 or 2 below is selected.
The following group of Employees shall be eligible for Final Pay Contributions:
0 All Eligible Employees
D Other: ___________________________ _
Final Pay shall be defined a.. (sdect one)1
D A Accrued unpaid vacation
D B. Accrued unpaid sick leave
D C. Accrued unpaid vacation and sick leave
D D. Other {insert definition of Final Pay-must be leave that Employee would have been able to use if employment
had continued and must he bona fide vacation and/or sick leave):
D 1. Employer Final Pay Contribution. The Employer shall contribute on behalf of each Participant ____ % of
Final Pay to the Plan (subject to the limitations of Article V of the Plan).
D 2. Employee Designated Final Pay Contribution. Each Employee eligible to participate in the Plan shall be
given the opportunity at enrollment to irrevocably elect to contribute __ o/o (insert fixed percentage of final
pay to be contributed) or up to ___ % (insert maximum percentage of final pay to be contributed) of Pinal Pay
to the Plan (subject to the limitations of Article V of the Plan).
Once elected, an Employee's election shall remain in force and may not be revised or revoked .
Money Purchase Plan Adoption Agreement 7
XIv. ACCRUED LEAVE CONTRIBUTIONS
The Plan will provide for accrued unpaid leave contributions annually if either 1 or 2 is selected below.
The following group of Employees shall be eligible for Accrued Leave Contributions:
□ All Eligible Employees
□ Other: ___________________________ _
Accrued Leave shall be defined as {select one):
D A Accrued unpaid vacation
D B. Accrued unpaid sick leave
D C. Accrued unpaid vacation and sick leave
D D. Other {insert definition of accrued leave chat is bona fide vacation and/or sick leave):
D I. Employer Accrued Leave Contribution. The Employer shall contribute as follows (choose one of the following
options):
D For each Plan Year, the Employer shall contribute on behalf of each Eligible Participant the unused
Accrued Leave in excess of _______ (insert number of hours/days/weeks (circle one)) to the Plan
(subject to the limitations of Article V of the Plan).
D For each Plan Year, the Employer shall contribute on behalf of each Eligible Participant ___ % of
unused Accrued Leave to the Plan (subject to the limitations of Article V of the Plan).
D 2. Employee Designated Accrued Leave Contribution.
Each eligible Participant shall be given the opportunity at enrollment to irrevocably elect to contribute __ %
(insert fixed percentage of accrued unpaid leave to be contributed) or up to __ % (insert maximum percentage
of accrued unpaid leave to be contributed) of Accrued Leave to the Plan {subject to the limitations of Article V of
the Plan). Once elected, an Employee's election shall remain in force and may not be revised or revoked.
XV. The Employer hereby attests that it is a unit of state or local government or an agency or instrumentality of one or more
units of state or local government.
XVI. The Employer understands that this Adoption Agreement is to be used with only the ICMA Retirement Corporation
Governmental Money Purchase Plan and Trust. This ICMA Retirement Corporation Governmental Money Purchase Plan
and Trust is a restatement of a previous plan, which was submitted to the Internal Revenue Service for approval on April 2,
2012, and received approval on March 31, 2014.
The Plan Administrator hereby agrees to inform the Employer of any amendments to the Plan made pursuant to Section
14.05 of the Plan or of the discontinuance or abandonment of the Plan. The Employer understands that an amendment(s)
made pursuant to Section 14.05 of the Plan will become effective within 30 days of notice of the amendment(s) unless
the Employer notifies the Plan Administrator, in writing, that it disapproves of the amendment(s). If the Employer so
disapproves, the Plan Administrator will be under no obligation to act as Administrator under the Plan.
XVII. The Employer hereby appoints the ICMA Retirement Corporation as the Plan Administrator pursuant to the terms and
conditions of the ICMA RETIREMENT CORPORATION GOVERNMENTAL MONEY PURCHASE PLAN &
TRUST.
The Employer hereby agrees to the provisions of the Plan and Trust.
Money Purchase Plan Adoption Agreement 8
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XVIII. The Employer hereby acknowledges it understands that failure to properly fill out this Adoption Agreement may result in
disqualification of the Plan.
An adopting Employer may rely on an advisory letter issued by the Internal Revenue Service as evidence that the Plan is
qualified under section 401 of the Internal Revenue Code to the extent provided in applicable IRS revenue procedures and
other official guidance.
In Witness Whereof, the Employer hereby causes this Agreement to be executed on this ___ day of _____ __, 20 __ .
EMPLOYER
By: _______________ _
Print Name: Shelley Becker
Title: Director of Finance and Administrative Services
Attest: ___________________ _
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Money Purchase Plan Adoption Agreement
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ICMA RETIREMENT CORPORATION
777 North Capitol St., NE Suite 600
Washington, DC 20002
800-326-7272
By: ______________ _
Print Name: ______________ _
Title: ________________ _
Attest: ________________ _
9
BUILDING PUBLIC SECTOR
RETIREMENT SECURITY
ICMA RETIREMENT CORPORATION
777 NORTH CAPITOL STREET, NE I WASHINGTON, DC 20002-4240
800-669-7400
WWW.ICMARC.ORG
BRC000-214-21268-201405-Wl 303
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ICMA RETIREMENT CORPORATION
GOVERNMENTAL MONEY PURCHASE PLAN & TRUST
ADOPTION AGREEMENT
#001
ATTACHMENT
V. ELIGIBILITY REQUIREMENTS: Effective Date: ----
The plan will be available to all new hires employees as of May 21, 2001.
Employees hired on or after May 21, 2001 will have the choice to participate in
the 401 (A) or the aid defined benefit plan. ·
The plan will became available to current employees on July 30, 2001 .
~AY ·. 1 6 2001
RESOLUTION NO. f/
SERIES OF 2001
A RESOLUTION AUTHORIZING THE ICMA RETIREMENT CORPORATION
GOVERNMENTAL MONEY PURCHASE PLAN & TRUST ADOPTION AGREEMENT.
WHEREAS, the Englewood City Council made changes to the NonEmergency Retirement
Plan allowing optional participation in the Defined Benefit Pension Plan or the Money
Purchase Plan with the passage of Council Bill No. 17, Series 2001; and
WHEREAS, the City desires to change the ICMA-RC Mid-Manager, Supervisor and
Confidential 401a Plan to allow Non-Exempt, Non-Emergency full-time personnel the option
of participating in either the Defined Benefit Plan or the Money Purchase Plan; and
WHEREAS, the passage of this Resolution amends the existing ICMA-RC Mid-Manager,
Supervisor and Confidential 401a Plan to permit Non-Exempt, Non-Emergency personnel to
join the Plan and renames the Plan the NonEmergency Employees Money Purchase Plan;
WHEREAS, the City desires that its NonEmergency Employees Money Purchase 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;
WHEREAS, the Englewood Non-Emergency Employees Retirement Board passed the
adopted changes to the Plan at their March 20, 2001, meeting;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ENGLEWOOD, COLORADO, THAT:
Section 1. The City Council of the City of Englewood, Colorado hereby authorizes the
"ICMA Retirement Corporation Governmental Money Purchase Plan & Trust Adoption
Agreement", a copy of which is marked as "Exhibit .A:' and attached hereto.
Section 2. The Director ~f Finance and Adroinisb:ative Services -and City Clerk are hereby
authorized to sign and attest said the "ICMA Retirement Corporation Governmental Money
Purchase Plan & Trust Adoption Agreement" on behalf of the City of Englewood.
ADOPTED AND APPROVED this 7th of May, 2001.
~AY. 1 ~ ?nnf
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I, Loucrishia A. Ellis, City Clerk for ,t'J:;e City of Englewood, C
above is a true copy of Resolution No.:JI.-. Series of 2001 .
rado, hereby certify the
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COUNCIL COMMUNICATION
Meeting Date: Agenda Item: Subject:
February 16 , 2016 9civ Revised Adoption Agreement
for City of Englewood ICMA-
RC NonEmergency
Employees Purchase Plan
108371
Initiated By: Staff Source:
Department of Finance and Administrative Eric Keck , City Manager
Services
PREVIOUS COUNCIL ACTION
City Council previously approved the adoption agreements with ICMA-Retirement Corporation
(ICMA-RC) to provide retirement plans for the employees .
RECOMMENDED ACTION
The Internal Revenue Service requires certain amendments be included with the ICMA-RC
Governmental Money Purchase Plan & Trust Adoption Agreement for Plan number 108371 to
continue the qualified status . Staff recommends the City Council approve the attached
resolution.
BACKGROUND, ANALYSIS , AND ALTERNATIVES IDENTIFIED
The resolution allows the approval of the ICMA-RC Governmental Money Purchase Plan &
Trust Adoption Agreement for Plan 108371 to maintain the qualified plan .
FINANCIAL IMPACT
This action will not have an impact on the City's financial condition
LIST OF ATTACHMENTS
Proposed resolution