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2002-24
A RESOLUTION
AUTHORIZING AMENDMENT OF THE CITY OF LAKEWOOD POLICE MONEY PURCHASE PENSION PLAN AND TRUST AGREEMENT BY ADOPTION OF THE SECOND AMENDMENT
WHEREAS, the City of Lakewood, Colorado, by Ordinance 0-78-24, adopted the City of Lakewood Police Money Purchase Pension Plan (the "Plan"), effective March 28, 1978; and
WHEREAS, the Plan document was removed from the City of Lakewood Municipal Code by Ordinance 0-93-9, effective December 31, 1992; and
WHEREAS, the Plan was amended and restated in its entirety, effective January 1, 1994; and
WHEREAS, the First Amendment to the Plan was adopted effective January 1, 1999; and
WHEREAS, the City of Lakewood deems it advisable to further amend the Plan
to conform with recent changes in Federal law, by adding a definition of Eligible
Retirement Plan, to increase the amount of the annual additions limitation,
to revise the 5% of compensation limit on voluntary after-tax contributions,
to revise the provisions relating to rollovers to include annuities, §§
457 and 403(b) plans, to add an under $1,000 vested benefit involuntary distribution
clause, to revise the Assignment of Benefits section to include Domestic Relations
Orders provisions, and to add language permitting Internal Revenue Code or State
statute-required amendments to be made without a vote of the sworn officers;
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Lakewood, Colorado,
Section 1. That the City of Lakewood Police Money Purchase Pension Plan and Trust Agreement is revised by adoption of the Second Amendment, in the form attached hereto as Exhibit A.
INTRODUCED, READ AND ADOPTED by a vote of 11 for and 0 against at a regular meeting of the City Council on April 8, 2002, at 7:00 o'clock p.m. at Lakewood Civic Center, 480 South Allison Parkway, Lakewood, Colorado.
Stephen A. Burkholder, Mayor
ATTEST:
Margy Greer, City Clerk
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