2001-27
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Florida Municipal Pension Trust Fund
§ 40l(a) Defined Contribution Plan
Adoption Agreement
Please tell us about the Participating Employer:
Name of Government Entity City of Clermont
Address P. O. Box 120219
Address
City-State-Zip Clermont, FL 34712-0219
Individual to Receive Plan Notices Joseph E. Van Zile
Title Finance Director
Telephone (352) 394-408 J
Fax (352) 394-1452
e-mail C I i vanzÏl e(iijearthlink.net
Your Plan Administrator is:
Florida League of Cities, Inc.
301 S. Bronough Street
P.o. Box 1757
Tallahassee, Florida 32302
Phone: (850) 222-9684
Fax:
(850) 222-3806
Contacts:
Mark Sittig, Retirement Services Manager, 850-224-6779
marksi ttig@flcities.com
Tairnmi Jackson, FMPTF Trust Administrator, 850-224-6779 x272
~ ackson@flcities.com
x276,
Plan Provisions
The Participating Employer will use FMPTF's § 401(a) Defined Contribution Plan.
For any Plan choice that this Adoption Agreement fails to specify, the Participating Employer is
deemed to have specified the first-displayed choice.
Your Plan Year is:
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0
0
October 1 - September 30
January I - December 31
Other
@ Florida Municipal Pension Trust Fund
Florida League of Cities, Inc.
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Florida Municipal Pension Trust Fund
§ 401(a) Dermed Contribution Plan
Adoption Agreement
Payroll Periods
The payroll period of the Participating Employer is:
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weekly
bi-weekly
semi-monthly
monthly
other [specify]:
Who's eligible?
An Employee is eligible to share in Non-elective Contributions and Matching Contributions (to
the extent provided under the Plan) if he or she meets all of the following three eligibility
conditions:
1.
Age condition
An Employee is eligible ifhe or she has attained:
--L no age requirement
age 16
age 18
age 21
2.
Service condition
An Employee is eligible if he or she has completed:
no service requirement
months of Eligibility Service
--L 1 Year of Eligibility Service
Other:
3.
Excluded Employees
Every Employee shares in Non-elective Contributions and Matching Contributions except an
Employee who belongs to a classification specified below:
Police Officers, Firefighters, Part-time Employees and Temporary Employees
@ Florida Municipal Pension Trust Fund
Florida League of Cities, Inc.
page 2
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Florida Municipal Pension Trust Fund
§ 401(a) Dermed Contribution Plan
Adoption Agreement
Participating Employer Contributions
A Participating Employer may make Non-elective Contributions and/or Matching Contributions
as specified below. Non elective Contributions and Matching Contributions that are tied to
Payroll Periods (as defined in this Adoption Agreement) must be remitted to the Plan
Administrator no later than 15 business days after the Payroll Period. Annual Contributions
must be remitted to the Plan Administrator no later than 15 business days after the end of the
Plan Year. A Participating Employer may establish different classes of Employees for
contribution purposes in this Adoption Agreement. The Participating Employer hereby elects to
make Contributions as follows (choose one or both as applicable):
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Non-elective Contributions - Participating Employer Non-elective Contributions will be
made on the following basis (must specify):
Eight ~ Percent of Participants Benefit Compensation
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Matching Contributions
Matching Contributions are Participating Employer Contributions that may be made to
match all or a portion of a Participant's contribution to an eligible 457(b) deferred
compensation plan.
If the Participating Employer provides Matching Contributions, the amount of Matching
Contributions made for a Participant each Plan Year will be (choose only one):
[ ]
up to _% of such Participant's Employee Basic Contributions.
[ ]
_% of the Participant's Employee Basic Contributions, which cannot exceed
_% of the Participant's Benefit Compensation.
[ ]
other
fonnula
(requires
approval
from
the
FMPTF
)
Non-elective Contributions and Matching Contributions in the year of termination
A Participant shall receive the Employer Contribution during the year of termination regardless
of time completed, subject to the vesting schedule.
Non-elective Contributions and Matching Contributions will be made:
per pay
~ quarterly
once a year
@ Florida Municipal Pension Trust Fund
Florida League of Cities, Inc.
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Florida Municipal Pension Trust Fund.
§ 401(a) Defined Contribution Plan
Adoption Agreement
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Benefit Compensation
Benefit Compensation means the Participant's:
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IZI other [specify] ( requires approval from the FMPTF)
The annual compensation of a participant during the plan year, including overtime pay, but
excluding payments to or for such participant for travel and per diem expenses, health,
hospitalization or retirement benefits.
Benefit Compensation as defined in Provision 3.13 in the Plan Document.
Vesting for Participating Employer Non-elective Contributions and Matching Contributions
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A Participating Employer may establish a vesting schedule for Participating Employer Non-
elective Contributions and Matching Contributions. This means that if the Participant leaves the
Participating Employer's employment prior to completing a specified minimum period of service
(not to exceed 5 years), the Participant forfeits the Participating Employer's Non-elective
Contributions and Matching Contributions. However, upon Death, Disability, or the Termination
of the Plan, the Participant is 100% vested in the Participant's Participating Employer Non-
elective Contributions and Matching Contributions, notwithstanding any vesting schedule. If a
vesting schedule is established, it is the Participating Employer's responsibility to calculate the
Participants service and report it to the Plan Administrator. The Participating Employer hereby
elects the following:
A Participant becomes Vested in his or her Plan Account according to:
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-or-
Immediate vesting
IZI
The schedule marked below
Vested percentage
Years of Vesting Service [ ] [ ] [ ] [ ] [X]
1 0% 0% 20% 0% 0%
2 0% 0% 40% 20% 0%
3 100% 0% 60% 40% 0%
4 **** 0% 80% 60% 0%
5 **** 100% 100% 80% 50%
6 **** **** **** 100% 60%
7 **** **** **** **** 70%
8 **** **** **** **** 80%
9 **** **** **** **** 90%
10 **** **** **** **** 100%
. @ Florida Municipal Pension Trust Fund
Florida League of Cities, Inc.
page 4
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Florida Municipal Pension Trust Fund
§ 401(a) Defined Contribution Plan
Adoption Agreement
Unless otherwise specified above, the vesting period will begin on the Participant's first day of
employment as an Eligible Employee. In addition, unless otherwise indicated above, Eligible
Employees who are employed on the date the Plan is adopted by the Employer will be given
credit for prior service as an Eligible Employee for purposes of satisfying the vesting schedule.
Also, unless otherwise provided above, different periods of service as an Eligible Employee will
be added together in determining whether the vesting period has been satisfied.
Restated Plan - If this is a Restated Plan to an existing defined contribution plan and the Vesting
Schedule has been amended by this Restated Plan, enter the pre-amended vesting schedule
below:
a.
Years of Service
Percentage
Percentage
Years of Service
b.
x
Schedule has not been amended.
Years of Vesting Service
A year of vesting service shall be measured from the Participant's date of hire. The completion
of twelve calendar months 1Ì"om the date of hire shall count as a year of vesting service. Any
years of vesting service credited from prior years shall remain credited, regardless of revised
provIsIons.
Forfeitures
Forfeitures shall be held in a Forfeiture Account and be used to reduce future Participating
Employer Contributions.
@ Florida Municipal Pension Trust Fund
Florida League of Cities, Inc.
page 5
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Florida Municipal Pension Trust Fund
§ 401(a) Dermed Contribution Plan
Adoption Agreement
Changing and Terminating this Adoption Agreement
If a Participating Employer desires to amend any of its elections contained in this Adoption
Agreement, the Participating Employer by official action must adopt an amendment to the
Adoption Agreement or a new Adoption Agreement must be adopted and forwarded to the
FMPTF for approval.
This Adoption Agreement may be terminated only in accordance with the Plan.
Adopting the Plan
By signing below, the Participating Employer adopts the FMPTF 401(a) Defined Contribution
Plan ("Plan"). The Participating Employer acknowledges that it received a copy of the Plan.
The Participating Employer shall receive copies of any Plan amendments made by the FMPTF.
The Participating Employer's signer represents that he or she is a proper officer of and has
authority to enter into this Adoption Agreement as an obligation of the Participating Employer.
Date: "/1' /~I
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BY:
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Accepted for the:
Florida Municipal Pension Trust Fund
By the Administrator:
Florida League of Cities, Inc.
Date:
@ Florida Municipal Pension Trust Fund
Florida League of Cities, Inc.
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