R-5•
•
CITY OF CLERMONT
FIREFIGHTERS PENSION BOARD OF TRUSTEES
RESOLUTION NO. 5
A RESOLUTION OF THE CITY OF CLERMONT FIREFIGHTERS
PENSION BOARD OF TRUSTEES REQUESTING THE CITY COUNCIL
OF THE CITY OF CLERMONT, FLORIDA TO ADOPT AN ORDINANCE
TO AMEND THE CITY OF CLERMONT PENSION PLAN AS ADOPTED BY
ORDINANCE NO. 305-C ON FEBRUARY 27, 2001; PROVIDE FOR
CONFILICTING RESOLUTIONS; PROVIDE FOR PLAN BENEFIT
IMPROVEMENT LIMITATIONS; AND PROVIDE FOR AN EFFECTIVE
DATE.
WHEREAS, the City of Clermont Firefighters are presently provided pension benefits under
Ordinance No. 305-C adopted on February 27, 2001,
WHEREAS, the City of Clermont Firefighters Pension Board of Trustees desires to amend the
provisions of the City of Clermont Pension Plan;
NOW, THEREFORE BE IT RESOLVED BY THE CITY OF CLERMONT FIREFIGHTERS
PENSION BOARD OF TRUSTEES, THAT:
SECTION 1
Section 7.05 (Beneficiaries Receipt of Payment) of the Plan Document shall be amended to read
as follows:
A Beneficiary may not elect an optional form of benefit, however, the Board may elect to make a
lump sum payment pursuant to Article 10(F) to a beneficiary of the death benefits payable
hereunder.
SECTION 2:
Section 16.01 (Basic Limitations) of the Plan Document shall be amended to read as follows:
Subject to the adjustments hererinafter set forth, the maximum amount of annual retirement
income payable with respect to a Participant under this Plan shall not exceed the dollar amount
as may be allowable for any calendar year pursuant to Section 415(b) of the Code.
SECTION 3:
Section 16.03 A. (Adjustments in Limitations) of the Plan Document shall be amended to read as
follows:
In the event the Participant's retirement benefits become payable before age sixty-two (62), the
maximum amount of annual retirement income limitation prescribed by this Article shall be
reduced in accordance with Regulations issued by the Secretary of the Treasury, so that such
limitation (as so reduced) equals an annual benefit (beginning when such retirement income
benefit begins) which is equivalent to the maximum amount of annual retirement income as
prescribed by this Article beginning at age 62.
•
SECTION 4:
•
Section 16.03 C. (Adjustments in Limitations) of the Plan Document shall be amended to read as
follows:
The reductions provided for in 16.03 A. shall not be applicable to disability benefits or pre-
retirement death benefits.
SECTION 5:
Section 18.07 (Qualified Military Service) of the Plan Document shall be amended to read as
follows:
Notwithstanding any provision of this Plan to the contrary, contributions, benefits, and service
credit with respect to qualified military service will be provided in accordance with Section 414(u)
of the Code.
SECTION 6:
Section 18.08 (Domestic Relations Under Submission) shall be added to the Plan Document to
read as the following:
(D) Prior to the entry of any domestic relations order which affects or purports to affect the
Fund's responsibilities in connection with the payment of benefits, that order should be
submitted through the Fund's administrator for review as to whether the Fund may honor
it.
(E) If the domestic relations order is not submitted to the administrator for review prior to
entry, and the Fund is ordered to take action that it may not legally take, and the Fund
expends administrative or legal fees in resolving the matter, the Member who submitted
the domestic relations order will be required to reimburse the Fund its expenses in
connection with the order.
(F) The administrator may develop rules or regulations concerning what the Fund will
consider to determine if a domestic relations order may be complied with by the Fund.
SECTION 7:
Section 18.09 (Plan Amendments) shall be added to the Plan Document to read as the following:
The Employer acknowledges the FMPTF Defined Benefit Plan document may be amended from
time to time by the FMPTF Master Trustee to comply with applicable federal or state laws or
regulations, and to make ministerial or administrative changes to the Plan, without the consent of
the Employer or of Participants or any Beneficiaries thereof. Any amendment of the Plan, made
in accordance with this provision, may be made retroactively, if deemed necessary or appropriate
by the FMPTF Master Trustee. A copy of any Plan amendment shall be delivered to the Plan
administrator, and the Plan shall be amended in the manner and effective as of the date set forth
therein, and the Employers, Employees, Participants and Beneficiaries shall be bound by the
amendment. The FMPTF Master Trustee shall not make any amendment to benefits under the
Plan unless the amendment is necessitated to comply with applicable federal or state laws or
regulation. Employers shall receive copies of any Plan amendments made by the FMPTF Master
Trustee.
2
• •
SECTION 8:
All resolution or parts of resolutions in conflict herewith be and the same are hereby repealed.
SECTION 9:
Plan benefit improvements provided by this resolution shall apply prospectively and shall not
apply to any Plan Member who has terminated employment or who has retired prior to the
effective date of this resolution.
SECTION 10:
That this resolution shall be effective immediately.
DONE AND RESOLVED BY THE CITY OF CLERMONT FIREFIGHTERS PENSION BOARD
OF TRUSTEES THIS 30TH DAY OF OCTOBER 2002.
PAUL AND RS N
CHAIRMAN
~-'~--t t~ ~' ~~
RICHARD BELL
SECRETARY