FIRST AMENDMENT TO THE CITY OF CLEARWATER MONEY PURCHASE PENSION PLAN
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FIRST AMENDMENT
TO THE
CITY OF CLEARWATER
MONEY PURCHASE PENSION PLAN
This First Amendment to the City of Clearwater Money Purchase Pension Plan is made
and entered into this /{tLdayof = ' 1998, but is effective for all purposes as of
August 1, 1998, by the City of Clearwa r (the "City").
WIT N E SSE T H:
WHEREAS, the City has previously adopted the City of Clearwater Money Purchase
Pension Plan (the "Plan"); 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 5.1 of Article V is hereby deleted in its entirety, and the following is substituted in
lieu thereof:
5.1 Emplover Contributions. For each Plan Year, the Employer shall contribute to the
Trust on behalf of each Participant employed by the Employer an amount equal to: 15% of
Compensation on behalf of the City Manager and the City Attorney; 12% of Compensation on
behalf of the Chief of Police; and 6% of Compensation on behalf of Management Contract
Employees (excluding the Chief of Police) and Assistant City Attorneys. The Employer will make
bi-weekly contributions to the Trust throughout the Plan Year to meet its funding obligations under
the Plan.
IN WITNESS WHEREOF, this First Amendment has been entered into and is effective as
of the date first set forth above.
CITY OF CLEARWATER, FLORIDA
By: t:ael J:-;Obert:' City Manager
Approved as to form:
~kin, City Attorney
Attest:
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