6308-98 . ORDINANCE NO. 6308-9
AN ORDINANCE OF THE CITY OF CLEARWATER, FLORIDA,
AMENDING THE CITY OF CLEARWA d'ER MONEY
PURCHASE PENSION PLAN TO PROVIDE A NEW
EMPLOYEE CONTRIBUTION CATEGORY FOR THE CHIEF
OF POLICE~ PROVIDING AN EFFECTIVE_ DATE.
WHEREAS, the City has established the City of Clearwater Money Pumnase
Pension Plan' the "Flan"); 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 panic;pan#s to
amend the Plan; now, therefore,
BE Ilr ORDAINED BY THE CITY COMMISSION OF THE CITY
OF CL.EARWATE R, FLORIDA:
Section 1. The City of Clearwater hereby adopts the First Amendment to the City of
Clearwater Money Purchase Pension ,Plan (the "Plana") effective August 1, 1998
substantially in they forma attached hereto as Exhibit A'and made a=part hereof.
Section 22. `specific authority is hereby granted to codify and incorporate the First
Amendment to the Plan into the existing Code of Ordinances of the City of Clearwater.
Section 3. This ordinance shall take effect August 1, 1998.
PASSED ON FIRST READING July 16, 1998
PASSED ON SECOND AND FINAL
READING AND ADOPTED August 6, 1998
Rita Garvey, Mayor- Com Asioner
Approved as to form; Attest:
iu
Pamela K. Akin, City Attorney 'T Cy Ji Goudeau, City Cler v,
P .
Ordinance 6308-98
FIRST AMENDMENT
TO THE
CITY OF CLEARWATER
MONEY PURCHASE PENSIONPLAN
This First Amendment to the City of Clearwater Money Purchase Pension Flan is made
and entered into this dray of , 1998, but is effective for all purposes as of
August 19 1998, by the City of Clearwater(the "City").
IT14E'SSETH:
WHEREAS, the 11.1 has previously adapted the City of Clearwater Money Purchase
Pension`Plan (the "Plan"j; ,and
WHEREAS, p rsoant 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, T EREFOI iE, 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 ipyrer Contr°i uitid s. For each Plan "dear, the Employer shall contribute to the
T
rust on; behalf of each Participant employed by the Employer an as8 cunt equal to: 1-9% of
Compensation on behalf of the City Manager and the City Attorney; 12% of Compensation on
behalf of the ;Chief of Police; and % of Compensation on behalf of Managernend Contract
Employees (excluding the Chief of Police) and Assistant City;Attorneys. The Employer willl make
biweekly contributions to the Trust throughout the Plan Year to meet its funding obligations under
the Plan.
IN WI" ESS'WHEREOF, ,..is First Amendment has been entered into and is effective as
of the date first set forth above.
Counter igned CITY OF C;LEARWATER, FLORIDA
By:
Rita Garvey, Mayor-Corgi miissioner Michael J. Roberto, City Manager
Approved as to form: Attest:
Kernels K. Akin, City Attorney Cynthia E. Goudeau, City Clerk
Exhibit A Ordinance 63:09-98