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2008-82

A RESOLUTION

AUTHORIZING AMENDMENT OF THE LAKEWOOD EMPLOYEES MONEY PURCHASE PENSION PLAN AND TRUST BY ADOPTION OF THE SEVENTH AMENDMENT

WHEREAS, the City of Lakewood maintains the Lakewood Employees Money Purchase Pension Plan and Trust (the "Lakewood Employees Plan"); and

WHEREAS, the City of Lakewood and the Lakewood Housing Authority ("LHA") have agreed to transition the employees of LHA from participating in the Lakewood Employees Plan to participating in a new qualified defined contribution plan sponsored by LHA (the "LHA Plan"), and

WHEREAS, the Lakewood City Council desires to amend the Lakewood Employees Plan by the Seventh Amendment thereto, in order to: (1) provide specific authority for the transition of LHA employees and the transfer of LHA employees' accounts in the Lakewood Employees Plan to the LHA Plan, effective as of December 14, 2008, and (2) incorporate certain required technical tax law changes contained in the final Treasury Regulations under Internal Revenue Code Section 415, effective as of January 1, 2008.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lakewood, Colorado, that the Lakewood Employees Plan is amended by the adoption of the Seventh 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 December 8, 2008, at 7 o'clock p.m. at the Lakewood Civic Center, 480 South Allison Parkway, Lakewood, Colorado.

Bob Murphy, Mayor

ATTEST:
Margy Greer, City Clerk

Exhibit "A"

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