6427-99
i
it I ii
y9/
ORDINANCE NO. 6427-99
AN ORDINANCE OF THE CITY OF CLEARWATER, FLORIDA,
RELATING TO THE CITY OF CLEARWATER MONEY
PURCHASE PENSION PLAN; AMENDING SECTION 2.510.2,
CODE OF ORDINANCES AND AMENDING SECTION 8.9 OF
MONEY PURCHASE PLAN DOCUMENT TO PROVIDE FOR
WITHDRAWAL FROM EMPLOYEE CONTRIBUTION ACCOUNT;
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City has established the City of Clearwater Money Purchase
Pension Plan (the "Plan"), which was subsequently amended by a First Amendment and
Second Amendment; and
WHEREAS, the City is granted authority to amend the Plan; and
WHEREAS, the City has determined that it is in the best interest of participants to
amend the Plan; now, therefore,
BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY
OF CLEARWATER, FLORIDA:
Section 9. Section 2.510.2, Code of Ordinances, is hereby amended as follows:
Sec. 2.510.2. Withdrawals from employer or employee contribution accounts.
A participant who has reached age 59-912 may request a withdrawal of all or a
portion of his employer or em to ee contribution accounts at any time.
Section 2. The City of Clearwater hereby adopts the Third Amendment to the
City of Clearwater Money Purchase Pension Plan (the "Plan") effective upon the
effective date of this ordinance, substantially in the form attached hereto as Exhibit A
and made a part hereof.
Section 3. This ordinance shall take effect immediately upon adoption.
PASSED ON FIRST READING
PASSED ON SECOND AND FINAL
READING AND ADOPTED
Approved as to form:
I-)
- dL
Pamela K. Akin, City Attorney
July 15, 1999
August 5, 1999
Brian J. Aungst ayor-Commissioner
Attest:
Cyn is E. Goudeau, City Clerk
Ordinance 8427-99
This Third Amendment to the City of Clearwater Money Purchase Pension Plan Is
made and entered into this day of , 1999, but is effective for all
purposes as of the effective date of ordinance 6427-99, by the City of Clearwater (the
"City").
WITNESS ET H:
WHEREAS, the City has previously adopted the City of Clearwater Money
Purchase Pension Plan (the "Plan"), which was amended by a First Amendment effective
August 1, 1998, and by a Second Amendment effective June 1, 1999; and
WHEREAS, pursuant to the terms of the Plan the City is authorized and
empowered to amend the Plan; and
WHEREAS, the City deems it advisable and in the best interest of Participants to
amend the Plan.
NOW, THEREFORE, the Plan is hereby amended as follows:
Section 8.9 of Article VIII is hereby deleted in its entirety and the following is
substituted in lieu thereof:
8.9 Withdrawals from employer and employee contribution accounts. A
Participant who has reached age 59-112 may request a withdrawal of all or a portion of his
Employer or Employee Contributions Accounts at any time.
IN WITNESS WHEREOF, this Third Amendment has been entered into and is
effective as of the date first set forth above.
Countersigned:
Brian Aungst, Mayor-Commissioner
CITY OF CLEARWATER, FLORIDA
By:
Michael J. Roberto, City Manager
Approved as to form:
Pamela K. Akin, City Attorney
EXHIBIT A
THIRD AMENDMENT TO THE
CITY OF CLEARWATER MONEY PURCHASE PENSION PLAN
Attest:
Cynthia E. Goudeau, City Clerk
j;