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Home My WebLink Aboutbocc.res.132.1983 . , i S_;: . . ...�.::�,;, �,. �q � ' �ti"k �i:��'" ii !�-� M-. >,c ap �� Y�{k��u L�{ a.' lj },��4 }�.5i ��1: . � �,y,,�:�,�3�'.�..��-a� �f+ < 5 �j ' .-a�'+w. t�� K . F � ��e��,�, .�.. .: �.�.,�.{ M h��}{� F 1U _'1'Ax" ..��.. '.r..1 �: .r r . �.. . .�).'��'"3•.!j'�r��t. ' . hTtHe3'7�K+H.Y . .J.�. .v . .._ . a. ,.. �•'�; _ � tI �'� A RESOLUTION ADOPTING THE t�`.�t :r.ii "�� PITKIN COUNTY PUSLIC EMPLOYEES' RETIREMENT PLAN YS:?� �• ��'` EFFECTIVE JANUARY 1, 1983 '`�' �.� � �. y�, t�':; Resolution No. 83- 132 �, � � WHEREAS, C.R.S. 24-51-901 allows counties to establish � . � ". �= Y�= and maintain a general plan or system of retirement benefits for � its employees, and � �,� WHEREAS, Pitkin County has chosen to avail itself of �� 'n; this option in lieu of participating in the Public Employees' ,K.: � Social Security Program, and � j �':' WHEREAS, the Pitkin County Public Employees' Retirement � ,� j a` { Board formed pursuant to C.R.S. 24-51-908 has determined that the I :K�� Pitki.n County Public Employees' Retirement Plan (attached hereto �� I 'r�`-k�_ and marked Exhibit "A") is in the best interests of both the � i;`� �;� taxpayers and employees of Pitkin County. ,�. i� NOW, THEREFORE, BE IT RESOLVED that the Board of .. s, ,�� County Commissioners of Pitkin County hereby adopts the Pitkin �. s'; - i � County Public Employees' Retirement Plan attached hereto and I '. �,, marked Exhibit "A" effective January 1, 1983. �. ADOPTED this 27th day of December, 1983. �;. � r � BOARD OF COUNTY COMMISSIONERS �z ATTEST: PITKIN COUtdTY, COLORADO � ��, € Lew Scanlan Geo e M dsen, Chairman k Deputy Clerk and Recorder S, p � APPROVED AS TO FORM: g ' #:,: �L�� T-_.,.��.�.;. 1 .:. � �,,£yrn,� �.. Thomas Fenton Smith County Attorney ; ( � ` , . t ! i 'S '.,r, �- - ..... . `V .. F{:�l?� '��'-'I��1 ' . � i �4;- �� r,:L'��q,r, % � � 1 '�� r�t� t,� r!?Rf'�`.r� �i"� hs'Y.;.� }jq�})y iV�' ^'I '� ./` �i� � -�i`��tlt J.��+"�-7�. s t �� r t ,�b y��`�`��C�r'w'a�,� � '� } t r.�J-�rY 7` a..r_._ ; . . . .... � _......s.�,�^.�� r��..�..��e.C . � � q .;; ,._.,, Z _ _.,. - t*t. _. . K.� � �. y i +, f�,�t;Y;: � �Y'-v,%+�. ��.. �pr_��c.'�.; i�� . ��l�,,,;......t,,,��.;i� � . 1„ ' S�:' ! c y i s - ....T�,�r-'ti� . . . ..;�'i:.: . iYK'r�� 'i:;�:.. r. i:.: �_ _ i:�.�,. � . . - 'f'A'.� . � 'i - . f.., PITRIN COUNTY PUBLIC ;�: EMPLOYEES' RETIREMENT PLAN p�^�` - - . I b:� ;� � '..T�,� . . . A; ` .. � . _ !i'f�. .. . � . . L �� . � � . r .� .� ,,, < < - �_ �..s..:;`� t:. �,.-.� . ti �. � � � , ,�.,,rxf".:�t.�>' : — sl �� — . _ _ � , i I ' ti�. _ �, ,'.`'�';' . . ;��i, ` .. , �' . s t i i ,.,r" ."+v,r, "' y J f'i a i� � t n �+�, M` +�: i� �° i ; ,t},i '��,�t .�'`^S �t4'q, � i b��.�� 8� �rJ ,,.q .: „s �t 5 .ttr f . .n � �' � y.�.n..�jA � �Jr,-� �� , . d�+� . �iS �.,� � ]y ��Y{a �� S�f�S �,�I+,#f� f�15 e: �f ...�„+�+�.K� � i ,1E��'�,�}+ r�e ,{ ��-3i�{Sy j�j�� + x .�- A'd��fs�,. �fi � �°`�� `v.� .$�`�,i"`•c �. A{�'t�c�`3� ��'�`• �.';fd•,tty'�C' r.,i.ac'�kFrc...;''�} �4iY�f a�a a � »?�[.'��".�}ti.�.__:R o.:. _.__. ...,:" _ . .. ..... .-, �. . •.`:]::J+'y:� - . .. . . . . . , . l '.� � ,, ' ";.�::,,,� 1 . 3t".� >:x'-`� s?s i:' �°`'i�� I N D E X ` ��... : :;,r�.:� { . �;;>-'j �'' . ��°f; � �;�t3 ART7 . . . i D7p�ME pND PIIRPOS . OF P � N ND TRUGT j 1�,� ��"--' ARTT(:T._F. TT T�.F'TF'�ZON� Z ! '1. - — ARTICLE III pBRT T AT ON 5 �.�� • ��,; �' 3.1 Who May Secome A Participant 5 t :4..� 3.2 Effect of a Break in Service 5 --c, *... F.aFi: �,� ARTTGL.E IV NTRT$iT ONS 6 � �,� 4.1 Detezmination Of Contcibution By �"L The County 6 - �..,f �"� 4.2 Determination Of Participants To _;;�,r,.:,'' Share In County Contribution 6 �':" - i, �.�+ 4.3 Limitation On Annual Additions 6 i �� 4.4 Return Of County Conttibutions 7 �. �� t�--� � � t 4.5 County's Obligations 7 i �;'; �:«33'" ABTICLE V DETERMINAmTpN AND VRSTING OF r.x''• P RT7 PANTG' AGCOCINTS 8 ` 5.1 Detetmination Of Participants' I k; g;x Accounts 8 � �" 5.2 Vesting Of Participants' Accounts 9 5.3 Full Vesting Upon Termination Or =`':� Partial Termination Of Plan 10 5.4 Service Included In Determination Y . Of Vested Accounts 10 t,.- 5.5 Effect Of Break Tn Service On Vesting 10 ��.:: ,p - � - �.� -i- �.� ,:.:':': �... , ; __� _ � _:,, . _ . . ... _ ---...._a�,:�,,,.:�..,,�..y,x.;..�.,..,,...w...a..�....,...�....,�. �.,..�.�..,�� - \ - . •= ` .r .ti. ' �� . � ��! • ��i •'� � • ; � � � �:�..,�-,, � _ ,� ��K• .;::,y�,*_" � . , ..�K�.:i��. t {'�' � � 7 i'S y�`'^ A t . u p. �;> �� ,:a � : h a K��;4Il`�S yM✓•��liy -.,.�� )fR .'f�('� .- 'i J 1� !l .. s�„!1��5�� .�y�- .�+aL'�}�� uh:. � s��>i 7'�i.a�5z�� t :� Y�� 'n C r•��+ ,{��j•'W� t, '�.� � s>x�F� . . t t r.:is �� ,, , ce e �+;� kr . . `��'rtry a,., ,4'"� �EU t k� �� K�� ,� . � }� �. - i.a, �. r , ,�*� S r°��k�"�,r t� ��t`' �.�;�n: �.aeat':��f�l��r�� _.;�j.... --- ��i�'i'��,'�'s�d�.•��t n' _ •.;:`�:..V-., � z;-: � �-;�:`?I .� .. I ��-:�:� t�'s; ��y ��3 � .;��'r? �.� kIv%�:� �'� ' �mrGL•E VI RETrRRMEN'?� D mE--D r, amTON OF �•'� �a?��'.^.`i � 8 "'� ' B .NEFZCIA?V �,� - 11 �x'��1 6.1 Retirement Date 11 +�� 6.2 Designation Of Beneficiary 11 r'�`� �"� 6.3 Participant Or Beneficiary Whose 1'.••. '3a Whereabouts Are Unknown 12 ��' � BRTICLE. VII ]ZjsTR R 7TTON FROM TR[7GT n�.7p 13 �� .^��'.'"°. 7.1 When Accounts Become Distributable i And Effect Of Distribution 13 � � ' . 7.2 Distribution Of Accounts 13 ��; 7.3 Disposition Of Forfeitable Account s� On Termination Of Etinployment 13 ^�T. ;„' 7.4 Assignment Of Benefits 13 �' �!.�: � : �, �BTICLE VIII AD�TpTSTRATTQN 15 �'_4 - - +�r' 8.1 Appointment Of Board 15 =i:��# ��° 8.2 Organization And Operation Of ''�� Board 15 � . � �;H, 8.3 Information To Be Made Available � To Board 15 ' �� 8.4 General Duties And Powers Of Board 16 ,{ I _ � 8.5 Employment of Advisers and Persons ` To Carry Out Responsibilities 16 . ;�, 8.6 Keeping of Records 16 �. 8.7 Compensation And Expenses 16 �%� 8.8 Claims Procedure 17 �^�� - `;.s � � � << -ii- . � w_.._� ------�,.......,.,.:.��,.�..,4.�.9� ...��,:�:....� __... � „ - . _ � . ., . .__ ..;�....., .._ '.� ,.x . �+� _ �� , , . - • � � j 4•• �+'<•. .r.,•a -^��• 'W:t::<� .... 't� .., ��1';�+;�' . . � �y�♦:�=z, :� ` i ��.w w 't)�C `",�"' t.a�i,�. �y- ` i+�zN ��f N'"�re: r. �' i r... � � ._��''�Z�b�t aF�'+a� :�"�x„� „9 �,�')" '7 f i�3 �� j+y.k . `�'�,�-�.rt � a�1.�fs,�a'U`�{r "yy#,��1�'c�••� - 42=y.��` i. ,.v�r f w ��'; .. �v� +.�� 9�.!�{. r �'�*Yatb tfi ,�wF� � � � r �-� a c",.„n�,f� J �K'{_4 � � ?' t�7n '�w x, �4 �'fA z E.t t ti �' �� K � � �}�� •� tLb3�.'''�'!� ' "°�1'Kla�'�?... k+'€'t4 1{r �H''� , .. _��1r��l��it''`• ,.:�"��' �r�r�s , �r4��f �wi4�,r:M�.�� . �.r.,a. �_ .�_ .. .. -. . ..t.. - ;:,,j ., , _Y::a �:;.� ;�_�`+ ;�rr� � :�,�;��x`, � j.. �r;�: BRTiCLE IX POW�RS I�ND DUTTES OF THE TRUSTFF. 19 ��;^'�� ty;� �� 9.1 Investment Of Trust Fund 19 ' f� 9.2 Administrative Powers Of The '��; Trustee 19 n e`� � 9.3 Advice Of Counsel 20 ��^`• 9.4 Records And Accounts Of The r� Trustee 21 i� 9.5 Appointment, Resignation, Removal, ' � And Substitution Of Trustee 21 E�W �� 9.6 Appointment Of Ttustee--Acceptance t In Writing � 21 � - �.,� 9.7 Investment Managet 22 Y '� ARTT . . X GONPINL7ANGE. TRR�jI1ATION. AND AMENDMRNT � '�' O •AN ND TR iRm 23 . _ .- k� � �;'' 10.1 Termination Of Plan And Trust 23 � &'. ) : ;�� 10.2 Merger, Consolidation, Or Transfer � � . Of Assets Or Liabilities Of The Plan 23 �� 10.3 Distribution Upon Termination Of � �`-�r' Trust 24 �L� r 10.4 Amendments To Plan And Trust 24 � � �TICLE XI MTS • . N . TG 25 i 11.1 Bene£its To Be Provided Solely i,: From The Trust Fund 25 11.2 Notices From Participants To Be Filed With Board 25 � 11.3 Text To Control 25 " �. ,;. 11.4 Severability 25 11.5 Jurisdiction 25 � j i � -iii- - � t ..... � � � _ • .. ' 4` . �.- :�'�� . ,.�,: ,•, x..l fw�.�� . . . . . Gt.: . � - . . . . �� . . . " . . . . . �,��t � . . . . n� - . • I 1 ��ry.. `� .�a . .:"•.L-. . .q .. 'S•`:`•;,.�r n, �,�Y ., 1 .'h'�` .y. . . t / .. �� / . t .t ��..�„ �it.t��j .y+�..},jt �a�i`-rr,w, ..,� ; �. ` �7 . �. r'' �O�Y-� a �'W. Yl 4�tl:�.Y t'�4{y r''�,�Z+r;Y' w .° � ,�� r,�., �yr t ,�� 1. � � h' � `' . . . . _. ....,��rM��x4 Jt�� , 1`�71t.��t �s,a�.;+:l.y'�, :.,.. . ... . . . 2d' �� '' 4:}`�;t:, �„r� ;��>'; ' � £-,*',,� �;�.�iti:�: ��:�... ��K�3.,; eroS,L;,':; - �i �+ pAC; • ;t... �;� i i'k�.� ''~�" 11.6 Plan For Exclusive Benefit Of ' �nF:=._. � Participants; Reversion Prohibited 25 � ;: . ;r5 �'� rt � _ .... � ,F. r,�-'. � r� . � '. �...; � � . ��'; ' . � � . �n�� }�... . .' . F R " Y. . . . . . � i . �� l i ` � .' . ��,�., � . �xx� �� . � � - 't_, ; .: r:;:::_ f .: i„� ��;.. . -iv _ �r ___�^----�• .��\ , ,� , „ : _ � �:k :r � ��! . .. . . ._.:: ,.� :.. �. ., ' . .-, �r .� :, -.:. �� - . ,.. , ...: ,>n,�+..'7.,xa+�.,.� : . . . . ., .. ' ,�H. . . . ' . . . . . . . . .i . � . ' . � � . - - . . . � . ; �.�:. ' . � . . �. .�. � . . . � . f � . . I �:-r: ::<:�;��-_ . � �.:;�� . - `;i;��2�*,�, ,'� .�� ;s �,y�� .�.. / ' ` � . ��,�i"�`� K �, ��{ Ti�.L�" � v.<.iF4^ y +� .. - .�.�. � . - 'h` e�.�� ,� �t r�..J+ ��• � 7�' �} Af _b jti��, S. G t . M� r . !I. . .C` �� s`, }��k��' �"��(�^°' . . �}2.,. . .. . _ ,� } �� r. _. ::i_..3.'' k...,_tl.��w�� R��.��t �. '�.1,t.. . .i �'�.y ..4YS}3` , i'wAA:.�, � �•��rt�,; ,`.•y'1,,;; , F�r`e' �1�:, �'��.:; ;(�fht"•. ART T('7._F. I � if,,S'y_y.;, — $f w�-0 i r��,*'= ■"�' **m vt1RPOGF OF PLAN P�N1 Tu,,,�rS�m i r:.:_� NE i.,�.�: r . �� '��i� The County, by execution of this agreanent, establishes a �, T �'�`. T �;� gualified money purchase plan and trust, to he known as the Pitkin �y � � County Public Employees' Retiranent Plan to provide retiranent bene- �a.: ""�„, fits for its employees. The plan and trust fund are created for the ' �'3-�* exalusive benefit of employee-participants and their beneficiaries. The plan is intended to qualify under Section 401(a) of the Code, and i � the tcust cxeated under the plan is intended to be exempt under ,�r Section 501(a) oE the Code. ,� �.a: ��. . �?y� +. `�`�``;; ,y �. t� �,� � , ��` g ��t �. , � •.�� - -� ; �.�.::..: r;: �.r. i . � � �&`, � . Ih .. . . _ �• ... 1 . . . - . ..� `.�\ . . .. . e`.i�:rx . .; •� � . � . -. . + i ,. ' �T.:. __....�. �.. y� ��.�,��'F�ki� , � � � :� � �;�� . ] � �*.� ',�,£ , ' � �� .- . . . , �� <�`4�x'4 i,a �J'?'k �i; 4 j�'-tj�`4 s4x` ...• }s�,:��,e'..r'�f�.:. ��S'f ��t�:'S�F�tAfi, . •:.��!a�r3ida.1lf -��..i.�:...��k+��Fi!iPX�SNradv `K'�wFFC��Y.. , �_'� 1r..'W�•:.e.'�M3�,t�'�+t/��+F"�r ��•: .5s �'i' ' a � � . (• 1 S.=.''r 1 � 1 AuTr . . ZI i j DF.FTj�jTTTONS . i � When used herein, the fol.lowing words shall have the fol- � lowing meanings, unless the context clearly indicates otherwise: >~' � � t 2.1 "Account,° unless otherwise indicated, means a participant`s k ' � entire interest in the trust f und created by the County's conttzbu- ,9 tions and the income, expenses, gains, and losses attributable to � � such conttibutions. ' �. .,. r f: 'i 2.2 "Beneficiary" means the person who, under this plan, becomes , t entitled to receive a participant's Account upon his death. c �; � � 2.3 "Break in service" for purposes of vesting means a period af � severance of 90 days or longer. � � � 2.4 "Board" means the Pitkin County Public Employees' Retirement - Board. `1 �j 2.5 "Code" means the Internal Revenue Code of 1954, as it presently is constituted, as it may be amended, or any successor statute of � � similar purpose. :�y � 2.6 "COmpensation" means the totaZ of all salasies, wages, ovettime, ': bonuses and other similac compensation paid to a participant by the '�-�_ County for personal services tendered during the year. �t 2.7 "Effective date" of this plan means January 1, 1983. and employees of the Roaring �; 2.8 "Employee" means any pecson now or here°aPte=rnS�ieA�npFc�y of � � �' the County, including elected officials of the County,/but excluding � libracy employees, part-time and seasonal employees, and independent contractors. For purposes of the plan and this section 2.8, "part- �-� time employee" means any person whose customary employment is Eor not � more than 20 hours in any one week, and "seasonal enployee" means any � person whose customary anployment is for not more than five months in any calendar year. � ;':<.;.,,- � t -2- I i i` ;� : .;•,- . ., _____._..._._ !i ` , �w� � � -� ' � �+y.�� . � � .. . -':f� ` . T��_� . . . - . . . F �� .. . .'1 � . ' . . . . ^. . . �k".* ti � ' . . . ��:•� �� u. - . � :�I � ;:l„��-'�n, . ,'w.i ��,, � > -;, , =�',°�;:��, ��i� ,�. :�.��-�, _ �, I�.. � ` y 7 -�r � v '��.y ,�4 � . �` F�:�+�� . .4 �''e��k � e��£Fn��sii 7Fr�i �.� �rn r � t�.r�� ,uv �ir��4+7�' ..;��'�r 'j �jr�-r 1� t�t ;� r�� 4�r�k.a�t��K i kP��sr Y��.��j'��:{t5��t .,� . .Yu� ra tr.�`�- �- . � h f ��+fs�.�,� ' ��, ¢�. k,� ' x �,} r 2 i�;n� 7 ..��Ld'�re .ti�a�t G��.��'��.��x i�"��F��x :+��! �� ....2: � 4. S �S-i d !' , . . . .a�y e5;....:. ' .,..,.r-r.-1fi:YxattJl.,�e.r�.,;,:�..c �.._y....ryr�Lseze.y; a..Wt�:.s�r . ., .. ._... . .. . . . . _ . �.I I �t..:= f.'�', '� 2.9 "County" means Pitkin County, Colorado, a political subdivision :;��-:-,:'; of the State of Colorado. �� ii; ;ri7.� �+'� , i 2.10 "Normal retir�nent age" means age 70. i �� .I ;r„_ ' 2.11 °Participant" means any employee who has become a participant ��.�";;;M� under this plan. Participation shall cease upon termination of ��a�r� employment because of zetirement, death, total disability, or termi- � ��..�r,, nation of employment for any other reason. ��,_.� �;.a;;,_., y. �,,.,, •�=��.;,; �k;.;�:.; 2,12 "Period of service" means a period beginning on the date a g'•�=��' participant's employment or reanployment the Count as an em lo ee �,.,�,��.;:; s_ya.;��:� Y P Y commences and ending on the date a period of severance begins. �"'`�� Z.`�&XZ��,7C;9�Z;4&F��9'I.g�uch term shall also include an iaz;t:r,z Y �r"""� perfotmed by such �nployee for any other government ;�„�_�,� period of service Ff�t�:?�I entity participating in a reciprocal or cooperating arrangement with � the County whereby County empZoyees would be credited with service �"f�� under such o y progx�, ��, �� g vernment entit 's retiranent er'- F�1 �t, ��' 2.13 "Period of severance" means a ' period beginning on the date a �w;�;�> participant's �nployment as an employee term.i.nates for any reason and � �;�';.;;; ending on the date the participant's reemployment as an employee a-�=; commences. r::�;.� !,..:�-�= ��M� qZ.s.;��r, � - �:ai_;� 2.14 "Plan" and "plan and trust" mean the money purchase plat� and t;':�,�'�;� trust set forth in and by this document and all subsequent amendments , }k,,;�; to it. ; .,F;6,yi"".',.'� j y:'� . - �S4�� !t't':.� . `,`k;� 2.15 "Plan year" means the calendar year and this shall be the � ,�;�,� fiscal (taxable) year of the trust established under this plan. 5�.�� : � 2.16 "Total Disability" means a Participant's inability as a result � �:.�_'� j �r •�� of sickness, accidental bodily injury, ot similar circinnstances to � �'`� work at such participant's job for a period in excess of six months. � �� Such inability sha11 be determined by the County Manager after con- � sultation with appropciate medical soucces. •,�� i � � f,��;� 2.17 "Trustee" means the petson or persons appointed by the Board as �, y; the trustee of the trust fund established by this plan and trust and � � any duly appointed and qualified successor trustee. � �: � ��: �a':. � -3- ; i �i .� ,....._.�.. .,...<_...,.�....,.,...____�.. ._____ ,� . � .� '�,� • `'y�m: �;�?� . . -- �GS'1�;`Y . .. . . . , ,�.�'-..y . � . . ,��, t;:'^. � . � �p,'l�t�c�.�� . . . .d��..:' . . . . .� '� . {��'e4 ... . , ��•�",(J�yi. �!tt,.�M�1? � �L{.''� ��.3�� -ie:� ;_;:,, �. �:,. , �.�f;: . - <z�� ,4,,��` , � � . �.. ' . ..� , 1 ,f �Z,s'.fi."2C" 5��.� 7er+y,�^;. 4rfr.�.a.°'.,��7 eM.. .. . .... ?�' °` .� � r a.�._�. � ��. Y�fi_ u7 ?.�'�y'�•,h� E y ��lr,, �'3�� i«.'�i y�� . ., ' F 1�. 7� 7. �J' 4„ , �� f", <� �'�L�:„! �''��'+ 2.18 "Trust fund" means the assets of the t=ust established by this :��':�:� ��As plan and tzust from which the benefits under this plan sha12 be paid +�i�:;':`� and shall include all income of any nature earned by the fund and all fs...-hv�� yI»>�,�� changes in fair mazket value. � 4,q ` �}�,j� . „�.�;�`,`,� 2.19 The masculine gender shall include the feainine, and the singu- �� lar shell include the plural. � , �� y::r: �, s �Y /.,,�".cc:' �," �3�.'. �`• � � �� ::�s. 4 �: ,� : xr �� } L .. �� ' .. + '�, �� . � . .. � ' di..` � � . . �v j - i� ,r . — !' -.�.:: . � � . s � j ,y, +. � i � i: � �., ry —4— � � y a ,�,:k.. . , . •,. ,,. _ , _ .....,_ , ":�� . . � , � . � ~:u':::� _ z �f: ' ��;' , k �� s � ;�. _. � .. �/ ��. .. � �.�1��'�.�Y}.. <��<�,t�� 'K: �," )7 °rfr�,�'"�'p�,�_ ,� .. . •;, ��ne`d��,�3[2�`:k .�� ._ '.. {�i#��L� �� ^wx- �`' fy�'1r� `}�'I��iYv .��.� �sai� ��E. •+� � � �' �, ,�� a. � ��l�k�..G '�'}..�"�0�.�t"x �Lz . . � 4r=.. c +� ' � �t t! t;�:..;;�' �;;�;� AgTZCLE I II Y�^,z::'� ��'�" pART ICZ PATION �'`�'� :Y-:,, i,i�� . '�`��'`= 3.1 NIHO t9AY B . .O F A AuT C7pANT; As of the effective date of '�, �'`"'�� this plan, all employees of the County who have completed a period of �. �,5,�� service of six months ot longer and who have not yet attained age 70 � ; - ��;,� shall be enzolled as participants of this plan, in the £uture, any f``r., - +'� new employee of the County who has not yet attained age 70 shall be ''� ' x�x�`� enrolled as a participant of this plan as oE the £irst day of the pay - ,;, period during which he has completed a period of service of six months. ��'. I ,�,ti� I 9;,;,; 3.2 FFF£CT OF A BREAx IN SERVZGE: Eor purposes of detetmining i '�� eligibility to participate, service before a break in service shall �� - not be counted. �". k:' �:�� - �i .�e f �:��- .. . ��s � �� - ��:t � r��; -�,��,:, � : � � '� �,; ,h; . E : � 4 l �{, �'�i' % ` ti -5- ,,.�:.;:� r x;=-- i..... ::.',. .i . . .. . .:. . -� , . k��'. _ ... .. . �i�. .'. .., ,. .. - � - � .. .. , ,. . . , . �.� •. �< . �.: . .� . . \ '' • .� �� . _ . � � � � . . . . . . � � . � � - - � - �:� - -� � � � � . . � � � . � � . . . . .� . . . . � . _. . . . i, i ',='w� � ,�� - � ��,'§ J �" , . � � � • �`�`r �- . � .�J.�y.i � r,��r � �i � t yt � r H} R�s . ! t ,. ��YYt �,� . � + ; -J�... �'o �-�, '�L��5�1�a i�'3 i p��",tilts�..�`�,}�r 4-,�w f�"3� ., ��' i � +'i'�'' ,tt �iY{� F .�-�` ....� �.:"`i� r .� �Y �-s�K'� ,r�;r's,'�'.� � .• ��' � .f. .,�b. thr ..�r T.�*� f' .l'3 ` . 'l � i' ti�LrR gs r�1 •1) S3 l ' / i .,,... _ . a:�;fwrmu.....t�_r,�� .trs'.it � _........._.�._.. _�... .. . �"%.r!��YE*t t.J�k "�' �+.,:,,tti ;� , ';;j � <<,'� i;';I ;�.:.,:�" . -'! ARTICjt�'i 217 �_: i ;�1,:;::: AN $IBUTTaN}, ' 1 . 1''. ; i''� 4 y� 4.1 p,$T • M NATTON O ONTRTB�TTON B}�THR COLiNPV; T h e C o u n t � '.;'�" shall make contributions to the trust fund for calendar year 1983 for +�; �'! i each participant equal to 12.268 of each pazticipant's compensation .� ; for such year. Thereafter, the County shall make contributians for � �'�� each yeat for each participant equal to 14$ less a percentage amount � �,.,, � �.-�;� determined as follows: estimated total cost of pt�niums for life ;%�-�"'� insurance, accidental death and dis�rtemberment, survivor and disabil- .F�'�-.� •kr�':� ity coveLage divided by estirmted total compensation of all �rtici- �;<._ j.-�.:-��-.� pants for such year. Any forEeitures caused by termination of 3,�i,^;; empioyment that are in excess of plan expenses shall be applied to =�=�;;:� reduce County contributions. The County shall make payment of its �'n'<`r, conttibutions within lo days after the end of each month. The �"�� Count 's contribation foc an y y plan year shall be paid to the Trustee ?�Y<:> and shall become a pa=t of the trust fund. Such wntribution shall �f_:. r;;;=�;; be made in cash. �� - �,...° .: 4.2 DETSRMINRTiON Qfi P R TrTpA � TO AR . N OOI7N1'Y CONTRTA1m7pN: ;;.,;;;;;= A participant will be entitled to his shaze in the conttibution of `'•`='�' the County for any plan year provided that the pacticipant has not �:;::,r`. yet attained age 70. i� - r�r';�:;', 4.3 r.rMTTATION ON AuNII� .�DITrONG: F o r p u r po s e s o f t h i s °�"'�'�"" Article iV, annual addition includes County conttibuti.ons and �'';�� . ��;,. forfeitures. Annual addition shall not include any co�ttibution made ' � �'h''-�• by a participant which qualifies under law as a xollovet �y:k:;:"�_ * ��- contribution. For purposes of applying this limitation, the annual ;�,�-�, � .�;: limitation year shall be the plan year. If the annual'addition to �<�^ the Account of any participant, attributable to all defined contribu- _ _'' tion plans (including money purchase pension plans or profit-sharing !„ ��m;:�'�, plans of the County) , would exceed the lesser of 530,000 (as adjusted �a.;�•:r: for cost of living increases by the Secretary of the Treasury as of *'-';X each January 1 for any limitation year ending during such calendar �;�;,`•�' ,��F,r� year? or 258 of such participant's compensation, any excess amount ;�;�a;:. �.-� attributable to County contributions, including forfeitu=es, shall be • allocated to the suspense account established under section 5.1[dl to �''"?� reduce fature County contributions for the next limitation year (and ��'�� g year, as necessary) for each such participant, so � ,•:�-�:; for each succeedin =s`=�`°w that in each such ear the sum of actual Count contributions lus r.;�t::'%; Y Y P t �i��.�,'... - . .,t.:,: forfeitures plus the reapplied excess amount shall equal the amount �, �"c`:�� oE County contributions which would otherwise be allocated to each � �,;� participant's Account under section 5.1[al. �` '` y 4i'S�� 7�,.,y..-.� '�`"S�)��3,� x�'�`.F+�-;; 2f� '�� _ R��• ��` -6- - ��v - -----____._.....�..__ ....� �._..... ,...�.:.._. ,:.w:... ,..,.. . ..... _ ..�_____.__�.__...... _ _ �p'� , . .a.u..- . ��+ �T'y . 'L;S�,...� . - � . . .'-a.. ';t,n;;'#f . ' . . . �t ' i.�!t�=�i_•` . ... � � �,� .�,� . .. . ��'�j .:. . . . a p'�n>� �� , ' . ��"��'1'.•:"�"_ ., . ._ . Y � � �{x -:,af fki.� . . . t ��„��-,- . �'� "St . � G N S�Y� � � {��,:� � � .F .,^,q:�� ef. i'o," 'il tµ��W"a},'i '� ^'J ��:; . . ��'r�{�� S'sM Y �n lL. � � .+ � �� ''. 1 �iVS�iH �� l�i 4 '�C � � iti �'.h'�p\�� n�7 � v �4, �< �c. 7 . ,y i K � s�A - i �v �� '1 }°1 s �Fc`iS, i�t 1�.yhiT 13 r �1� f� t t 3 r k fi'� .ay, 7�,+� y� ae, �i'*'r r ��i.`��Y� �` �"r��:�:�. �i?r�'f��K F� i� r 3��` p f � �}�P-Tr � r . n 4 � X i ++, 3 p� k't✓ u r , r�a.ra,�� g �" tf` �p �r» i .� .<�a�.a,l+...7�'�y '�..%„?z}.Fk.��1e-w-�.`FS�dj^�E '�9 �s...C�'�si.+iv'.t<` a+wl�'.�t f�.�tfi*y ... ._ �.'�3y7T�c�4��X�S�'f� _;�� ir .. -�_�., �' �� r'i5"t � . . . . .. . � �, • .�f�':'!:�`��. i�ej'� '�'.� ;:.R''� _ ,_� .. i� , �i _ �� ' 4.4 B£TURN OF GOLiNTy CONTRrBr mNy: A contribution by the Couhty } � i to the plan shall be returned to the County, at the County's discre- s�.�,,,,,_;� tion, under any of the foZlowing circumstances: ��, :j [a7 If a contribution is made by the County by a mistake o£ f ,;-�.�;:�;� fact, including a mistaken excess contribution, within one ! w�';�.�r: t�...�-. yeat of its payment to the plan; o= �:;:. ' �"�'_-" [bl If ' e:�:.�.u,. qualification of the plan is denied, within one year �;;�,�,� after the date of denial of qualification of the plan. f�;�;�s� � . �t:�'��f'� The County shall state by written request to the Trustee the amount `�� of the contribution to be returned and the reason for such return. �"'�' � Such amount shall not include any earnings attcibutable to the con- ��;r'�:� tribution and shall be reduced by any losses attributable to the ��; ` contribution. Upon sending such request to the Trustee, the County - �� simultaneously shall send to the Board a copy of the request. The �- �•`� �''� Trustee shall return such contribution to the County iimrediately upon .; receipt of the written request by the County. All conttibutions by �'` rz+. the Count to the lan are declared to be conditioned u 4�,,,.._,; Y P pon the quali- *:�^=�� fication of the plan under Section 401 of the Code. ��{�"`;5::.. �� .. ;;y..->�: 4.5 Co Y' os .rr,ATioN : The adoption and continuance of the "��'"" plan shall not be deemed to constitute a contract between the County w,�_,:: ��d �;° and an em lo ee or �.7�,,. y p y participant, nor to be a consideration for, or 4 �*�; inducement or condition of, the �nployment of any person. Nothing in � . i�r this plan shall be deemed to give any employee or participant the ' ` €Nr,;� right to be retained in the employ of the County, ot to inte=fere � ��`;="%. with the right of the County to discharge any enployee at any time, � ` }"°`� nor shall it be deemed to ' Yrt4�, give the County the zight to requite the i employee to reirtain in its employ, nor shall it intezfere with the '°�'r� right of any employee to terminate his employment at any time. �� _ �.tz,� ,;,��'`A,�`';I;,Y � j . ;�•,,;,,,'i�:a` . ( �, f . ��':'�;�-;� �.J%?`.i �}Y:,M`[� l,�y �a y�" �aai�R�.. a=��, ��..;� �� ;:k, :�:4=� �`, �;.: �� .. -7- __ - ------.. _ .__ . , __ �..... �.��__,__._. . _ �:•'�� : , a y.� . '�?�,�;�I - .. S�!�� M ..� � .,. di�f��•7 . . . ..�'�j`wk� . . � � . _ oa�� ,, , ' _�� . . :;.��„�� , ,vy�� ,n. '-0 �a�,�•r�-�A ,tiy,..M. ti, .;,1�;`'- . . _ ;� k�}_4 G!-X i d� lr '�+ � . ��.Yt.� - . �. r .�a �`S.,f�iZj,�'.j�71s �.t^sr r��, � �� '1' � q� - �.i �F,� ��¢��... y ;�, rlttN��'f� � `�i � ��F c i�` ,:}te 4�-. ,}�.�F r ., t i yZ CF 'l.�s-�� 4+(. �'U } .. �..� �.� ...�-�I:��}. .:��lb r�*"` �an{��,,rs�,��`�Y_'K ki �j�a.i`"�r°"4' 1`P � ��,�a.f �r��i�$rt ' . . . ..�_.w:,a�tt«.r-�.�.�`':?'.`�.41�v......�-sefr�?,i-+ �,di_,.�'.t_....-L;S r� „ r'u,�JtMd"r T�.�kl.�y .eS... �. • , ' . .__) . �� .. ..�.-- - r . . . ' .. r�.. ;:,; ' � l „ � BRTICLE V a ��°'�. ' D MTTjA TON ND V STTN O Vy�,'�- ; P RTT _T ANTR� A .CO t�`S ^ 1 i' � ;:,r�;� .:I �x �."J S.1 D�T • MTNAmTON OF PhRTTC'TPAAT�j'��CQ(jh*�S; . r` �.': �^ • tal Partic±pan ' Ac o�n 4; The Board shall maintain an E`� '�"��'`�'" Account for each � ' � �-�2<;;=:� participant showing the dollar value of ��;r`�`-`: his cuzrent Account in the trust fund as of the end of each •,;��:,-,... r=�`"""� calendar year. The Board shall distribute, or cause to be ��`"'�V"� distributed, to each �M,-4„�--�: participant at least annually a writ- '`-"'=`�`'` ten statement setting forth the cuzcent value of such t.:.r.�:P;,;:e,; , ,"iC..t,:;;•:. � ��.,,,>,,,, participant s Account and such othet information as the s`;,��-�:�c; Board shall determine. ,�,'},.., r`�`� . �;ti � [b] 811oca t+on o oy�,t.y on i b� i ons and Forf e�t-��r ea: At i''"i4�:;'t; least annually as of the last day in each plan year, and t'}�,; `'. more frequently as the Board may determine, the Board shall •r,">":::�="• allocate to the Accounts of participants any amounts con- tributed by the County to the trust fund for the year then �� ended in the manner ptovided in section 4.1. Forfeitures •„u-_-:;-�` used to reduce County co�tributions shall be allocated ";;,�;°-:�-;°,� along with County contributions. �- a,. `� �;: � [cl va�slat�on Da G: The valuation date of the trust fund ``:K?=`�`t= shall be the last da of each 1an •. r:�v,;�: y p year. Each valuation � , t.„ dafe the Board shall determine the value of the net assets of the trust fund (i"e-, the value of all assets of the �,,.�,, .. ,-.��<��:;;:' '':��:�n;;�; trust fund at theit then current fair market value, less . ,:..;.a�-.,.. � r'�`�=�= all liabilities3. As of each valuation date, earnin s and ya��..�:: 9 e.N��;.� losses of the trust fund and chan es in the fair mazket ,:.�:;?�;;� g ° value of the net assets of the trust Eund shall be allo- �„=�±�"� cated to participant Accounts in the ratio which the total r.,, ',``"`��"' dollar value of each ��'.ir;�: participant's Account (whether or not <°� «� vested3 as of the last previous valuation date plus one- �� `ys°'�. half of the County contcibution allocated to the } �y participant's Account since that date beacs to the aggre- l�.�: ,?} gate dollar value of the Accounts of all gsrticipants. If ��"•�i ''` a participant terminates employment �or any reason on a �y �' date other than the last da of a y p ��v�,-�,� y plan ear, the lan �,. administrator shall determine the value of such acoount by ��"`�`"��' allocatin Count conttibutions to the � i '� �;" account throu h the date of termination and b t adl ustins 4 . �,,,:�,i,;,,., 4; 9 Y ] 9 �� for earnings, gains and losses through the end of the cal- � `,` endar quarter preceding the te�ination date utilizing the �; ��,.r ' same formula as set forth a4ove. �.: �� ` '� } tai: �.} � � F�$-�z Jw: �; ,� ,�:� � �U ��r�,,: -a- . ,.xj;;.� �� X�� . Y� . ,_. .� _ _ __ _ . � ___.___ __ _ _ �.:� ._... ._ ,. r� ;, ,' R �y,#'.'SF '� . . _ - ♦ . �`�`�� 1�7 � . ''Ya' v .,` ' . . . ��.�� 1� '' � .- �� :C � . 4_`y'! �� - .,��i.}� � . ��!��[� -�d.,i<:.�4 1 , ��j'.�,.�,a.;;�7ww"�j ��'�- 1 4J :�", ��iY�1� � ' � r .:t[� 1 �`" �� d`t��r : �'y.';.e t 1 r��:, n v e r"�. �.. . .. x ,,,�, ,.��+xt��y�,�*��+r1,�', �y�at�:"x , `� � `x�f��R r�i+ � S%dl � ��. �;;ki„k.�nys�. f<+,ie.ri..a w(.. .l2�..+.�� :R.�..w ....�...:..tH�.�r�tk7h�'r�ysd?�EPtP1ID ' ��.xa..:'-: ._�?.e.adt_.�_.nt_. .. F;: �. � , .. � ,'i �:.;:;;� [dl Sucpense Account for Un�lp�:ted Forfe+tutes: In the event ri`s j that the amount of forfeitures used to reduce the County's ;L�`;� contributions and to be allocated to any participant's �� Account woald exceed the annual addition limitations, a .;:fi::�(;i , t.,,; sep3rate suspense account shall be established to hold such , �=::.: unallocated fotfeitures for any year or years provided ? .. ��: ; that: �. � = ' �. � [11 no County contributions may be made at any time (..,.: '�'�� when their allocation would be precluded by �; ��:. � ,,,,�,� Section 415 of the Code; e" ,, o . �� F ��a,� [2l investment gains and losses and othec income are k '�^7s-;,� not allocated to the suspense account; and ��.r:�� '�;:j [3] the amounts in the suspense account ate a210- ��`��r� ,�r�_ cated under cection 5.1(bl as of each allocation �^;�°:�� date on which forfeitures may be allocated until ��, u�;ti� the saspense account is exhausted. ��•, ;r:t ;n.�r.� ;�,a In the event of plan termination, the balance of such sus- i;:;r.,-':. pense account may revert to the County, subject to regula- �Lr� tions governing such reversion. r s.- �Y c "'` 5.2 VESTZNG OF PARTTCIPANTC� AC OTNTS; 1�;: t� `�� [al r n ai tt�� G: If any participant reaches his normal �:=`.-�"� retirement age, dies, or suffers total disability while a::�:�,.: ��•-�;.�' employed by the County, his entire Account shall become �< t _..:5,: "'`�� tull vested without re ard to the len th of the �,.,� Y 9 g period of �,� :� service such participant has had with the County. Any �•��r,°a Account, whether vest ed or forf eitable, shall become pay- . �;,,�� able to a participant or his beneficiaries only to the ' -�'-`�� provided in this plan. A particip�nt who has desi tir*`� ext ent g_ ,,=�;.� nated a beneficiary and who dies shall cease to have any , �� interest in this plan or in his Account, and his benefi- : =`�?�;� ciary sha21 become entitled to distribvtion of the ;?� '�'��`�' participant's Account under this plan and not as a result �` "�q'� of any tcans£er of the interest or Account. ' �::y j G�;-:;,� ; 1 .z; [bJ t�esting� d>> : A pazticipant shall be vested in his E �-�.�� Account in accordance with the following schedule: ! ��^. � �::;>:-. i:. ��s�; =x�<��:; �r--- -q..�F 7 �. r�*'�f" �� „ � } `�`��V 3 �,t -9- �`"','�'i�s',;=•' �t;r �� '� .._�.._..,..�...,. .. _..t�.,«,�:x�.:. :...:.....�.._._.__---- ._. .. _.-------_-__� . . . - '. :. - ......s.,.,...!_ . . �� .. � . � . w•^ :,� � . . . � � 'y � , c � . ��..: , �. � _. . . � =- r�,?.�y ��!.'_� . . `�e,� .. E K i� '�S��Y...�. . �� ^,� � , . »�� ' � ': '-;'r�� . „�e a','�`<v'=,.� �, :��:'1 �4'� - - . . wrrmr.rorrrrri.rx� I — .... . _... . .._.._ . �r t�<' , . 1^ r+�' • ., i �,i� � p - .. f_rt r' ��' y'��4 .r+ �'°�Y / . �x�'.u�1a.��.�7��c�Cib�:��°�c` �:F iriS��g ,� ��.*Z,y '�1'�,y��i.1'` : `�.A:��;�.{�`�j" �� a. `{?' '�r`�.��.ri�' y`.��.,f+'{yr! � Y . "t ��+, � f LTd�R'SfC��iM'f�� -,� .��f ��.'.s.J.�:..X.,A�.�«M1RW �..._'.L��C.=:�� ... .. � _�� ., .'� , �:'.:I ''r;�;+':; Percentage of Account �:?�:'� P +od of .; wh;�h rc V Gt d '��'��=' Fewer than 6 months 0 �`��'�'� 6 months or more but fewer R,. • �::�;:;'; 4,� i than 1 year 508 �' l year or more but fewer ��.1 than 2 years 60$ �+��`� 2 years or more but fewer � than 3 years 7pg , ��Y 3 years or more but fewer � '%�- '"� than 4 years 808 � ' �� 4 yeais or more but fewer ��"��J than 5 years 9pg y 5 years or more 100$ �,*'y� :�... �� [c] L•imitations on Vecting: Any return of contributions to the f:;�«:. County under section 4.4 that requires reduction of a ��,,: participant's Account (whether or not vested) will not be ��"�' considered a forfeiture in violation of this section 5.2. �:.?� �� `�b 5.3 E iLL V ST7N nppN m M NAT70N OR P RT T MTNAmTnT� O rAh: �;� +��. Upon the termination or partial termination of this plan, the I Accounts of all participants affected, as of the date such termina- ; +� � �a tion or artial termination occurred, shall be fully vested. ��,� p ; �� k �< 5.4 S£RVT . rUrrnD D IN D T RMTNATTON OF VE�£D AGCOUNT : All i . . ; ��*�� periods of service with the County shall be included for purposes of i. Y '. determining a participant's vested Account under section 5.2, except t an}Z_ periods of setvice excluded by reason of a break in service under ? �-' ; �3z. section 5.5. , ��; +. , w ; `�-�` 5.5 £FFBCT OF BREAR N SFRV nu VFSTTN['• With respect to a ; -- x:^;= participant's Account after any break in service, the percentage that � ��;; is vested shall 6e computed without regard to any period of service i ^� before the break in service. ; -�1 • _ �� 4.�. � R�x's ',� � �,. �' � . . � -10- � ��.`1' � �.. ' --__. __ � _ ---__....�,<:.:� � : . . i�.,i.:�.� -.,.;..•w.�......,,,y..--- --__ �i, . ,,� �� _ ' . •y •�•;s� __ ��a _ f� r�� .. . . ry�i:;r:`��y � . Sw-�,l Y.:.r.',� . . :.N j� ^..� .. . .� . � �f��ti'rt� -�;I.t�t:�R�:� � �^�e '�4� .,�,; ,; � _ t,� �$y.t �,� f, � 4 � � "�" Cv4r',�s�'t'fA�5�fj id��4+i 1 y � � J s'iL �:a, 4 r ��.�i c ��1� � Y � �.'t f w �.�f r.`� 4��r�'t�ifi� ''� �HS,�g t�ti. . 1 �b .i o is .i � t�i XF y .,,�f ' - !c,`,� . p1�r+ ,r7. �#�'{�.�t.f f�� ri5 *f � j Y�j"' r S'k•�.h ' ��qi�iY'I�, tM''e� i .`� ��F��x. 1x'. .A..1 i�\t :.Flf 1'�+�'f� 4�1��r�A t��r�7 _- .f h '� �F . y '�L T��Y 4�� . .. , ':S y ` 5` ?'a.1F�%3L�31 fF`1 �:., ��h�'�k '�'1.. ' e �4 � ° � �� 'i; �. t J£� . ... . . :a�.:;.zc -�.a-..: 'G.r«... ...'(�siss`=y' ru�.,n.i��a++*Gu&5v1i.v.,.K:.,.. ��r t y (r .'.. «.. ._..._ _.._. .. ,.. ... _ �_ � .- IA�;. 7Y ;.! ;,Ft��,.� ARTTCi.E VT � i::. � — -- - . :'=��' RETLR£MFhT DATE--D .CT.NATTnN O �. ,rc:.{. �; ; BENRFZGjAuY t . �:� � _ ,' �, ` ��` + 6.1 $ETIREMENT DATE: ThE normal retirement ddte fOL each ,�._ Participant shall be the attainment of age seventy (70), and on such j � A date the Participant shall be entitled to retite oc may be tetired; � �?��' provided, however, that the normal retiremeat date for each ��;�:� Pa=ticipant who becomes a Participant at ages above sixty-five (65) ��;';,_, yeazs shall be the date conciding with the date that such Participant .�r.;,,� has completed a five-year period of setvice. :i�� ?.^t+�;� • �.��,:_rI �.-�•�•t 6.2 DESICDinTION OF B£D1FFr rpuv; Each ��: , ,�� participant shall designate (�� a beneficiary to receive his Accocutt in the trust fund upon his death �r on the form presccibed by and deliveted to the Board. The partici- ""_?' pant shall have the right to change or tevoke a designation at any �'";�� time by filing a new designation or notice of revocation with the Hoazd, No notice to any beneficiary nor consent by any beneficiary ,,�,:;:,: shall be reqvired to effect any change of designation or revocation. ' - '`� x':5�<:� If a participant fails to designate a beneficiary before his death, :��=;•' or if no designated beneficiary survives the �rticipant, the Board _�=�`>; shall direct the Trustee to pay his Account in the trust fund first ��:.�.� to his surviving spouse, if any, next to his descendants by right of � _ representation, if any, or iE none, then to his personal !��:-'""=. representative. If no personal representative has been appointed, if n��'""' actual notice of such is given to the Board within 60 da s after the �-'ii: ..:;. Y * t.; participant's death, and if his Account does not exceed 55,000, the �, :ry Board may direct the Trustee to pay his Account to such person as may � c�?=,�,, be entitled to it under the laws of the state where such g3rticipant `"'�"�" resided at the date of his death. In such case, the Board may S �,.,__ require sach proof of right or identity from such person as the Board may deem necessary. If his Account exceeds S5,OOQ, the Board may � � - direct the Trustee to establish a custodial account for such pattici- � pant in a federally insured bank for purposes of holding such ° �a"�`',;:_' participant's Accotuit until such time as the T=ustee is notified that ��:_;n;; a personal representative has been appointed. For purposes ot this ��..,,,,_:'; section 6.2, representation means division of a �articipant's Account �`�-�.=-- into as many shares as there are, at the date on whfch the Account � becomes disttibutable, surviving descendants in the nearest degree of ��:�:`"':r` kinship and deceased descendants in the same degcee who left descen- `� " dants who survive such deceased descendants, each surviving descen- i` ''� f�; dant in the nearest degree receiving one share and the share of each �. . � �'? deceased descendant in the same degree being divided among his t '�� descendants in the same manner. j::. �� ;x ��r�_"j � ��;;Y;. k-��:, .�-,,. :{ti. aT' .`; -.�: �� . �* ��. -11- -.:��.�'" kz, � ��k� 4 1:� �+�.....:_...'....�_-"__._._..._�._""'_. ....._'_' _' . . . , ...,., . . .._.�..-__-__' . ,. ._ . ......_.,.,_..�� „ . . . i'r,! r�� . . . � . . • . ,, .. ..._.. '...�s��tti . . � . �.Y(NU..t;„ . . . . `, . { �:�'•+�� . . , ` Fr c. ,�y��;) . . x,{e��j">�Z_... �� ... �� c;;;;:i�� .J .��:�;� YF„�,y'f�.k� . 4�A_y. _ . r�..,�,� • � "�4:,��;�e, •SxR R'y .¢ `�:.�"� ��,�:..'v'""<s:.� . :'4.x:v:,.,?;•,. �,- �x'.;� ��:; ___.�� `Y+��: 1 y F .. -. -s''.v i.. . � � �. � �; r y , , r , °a Y � ��-� u�s , -�• �,, � i• L `.,j r�` ��. i� '� tws�i� �i�� t�ii�t� i;� � y r a��{ � xe ��Fd :?:� ,ss� �` L .yrnfi" �; "� ;"'T4+i;y„ � � + �' n$a:�� . ., r��:�'� . � . ;,t � � 5.3 PjyR�T�'rDANT OR BFNFFTCTARy WHOSF WHFAFARaLiTS ARE LiNRNOWN: j In the case of any participant or beneficiary whose whereabouts are � ?' unknown, the Board shall notify such participant or beneficiary at � {� his last known address by certified mail with return receipt � � requested advising him of his right to a pending distribution. If �. the particigant or benefiaiary cannot be located in this manner, the `�'°;�y:`'. �: Board shall direct the Trustee to forfeit the Account and apply the '�� forteited amount to reduce County contributions in accordance with ^:•' section 4.i. If a claim for forfeited benefits is subsequently made `•'� - b the rtici ant or beneficiat , the amount forfeited, umad'usted °°�-';"�r . - Y Pa P Y 7 �4, �;: for earnings or interest, shall be restored by means of a County �' contribution. � �� F, E ( � � ...... 4 . � .. _ �.. yc,y; � _�._` �-�� ;F. �'.."' y.. '�i::�� . . . . .kl°. .:�� :.. .. . � . t �i ' ! � � �: W�. � �..��6.: . � �sf'_�r;�. �12_ F 1'_� �',_�•� ------_,. _ _._---- --.-�._-- . ..-..---n,—.--'.�� . � . :._ . �.:�,�.,.'. ., :��. ... :.�. � .. . .. . . .'., <r- . .. ' . . - . . . . . �'.,\ . . . . . . �� . . .. � , �:i�� . . . . �.� .`• . . . . . _ �� . � . . . . � . � .. . .. . ..� , . . . . . ' . : � - � . � ,•�'y.,�� . . . - .. , +�:, . `af .� r �..+� yy. ,� t - . ti t r� ��^ i1 . �.� 7 i� F,^L¢1:� - �+ � l5 a�+s�ca i,.�ry � 4r .. 1:. �Y :� f�`Lr f�`; ' -' �'X ��i ,� K �� rL�. �-,-_r �'' ��"f�ti�'`}�x � �f c r�y�' :� � Y ��1^ �. 5 ��a tµ§� �� . �„3.•��r i�+;;:. .. .,w»._.,.�4. ... �u&`�_._. ,. . �i...rt.,.`4 Sd:_.a._ ........_.__ a�Y.:...:i:?r . . .��.i�:c;1 r .r�.�. ; . "'''' ARTICLE VII y,i: j ��i�:i �jyTRTBC7TTON FROM TRURT FIIT1i� '��;?. �.' _ r,. �� 7.1 "L°"' AGCOLih'^R BFGOM�' DISTRIB[]T�LE ANI� EFFFC�' OF D GTRTA iTION: �' % if a patticipant terminates his employment for any reason, his vested ` �i:J Account shall be distzibutable under section 7.2. When his Account �.:;_ �'�'' becomes distributable, such participant shall cease to have any fur- � � ' ther participation in the trust fund except the right to teceive dis- �� tribution of the value of his Account. , ' :��":� t.��; r��; 7,Q DTCTRT$UTTON oF ACGOUNTa: if a participant's Interest shall y-�;'°i become distributable because of retitenent, death, total disability, �•.`:� or termination or employment, such participant shall receive in one �� ,��, lump sum, no latet than one hundred eighty (1803 days following his �,�;4 retirement, death, total disability or termination of employment, an j�t�;� amount equal to the full value of the participant's vested account. �� However, the participant or the participant's estate may elect any '��' other alternative focm of distribution that is acceptable to and a,.3,j �%; approved by the Boacd. The request for alternative distzibution - ��_' shall be made in writing addtessed to the Board prior to distribution. Once a choice as to an alternative distribution is ,s - . made and accepted by the Board, it cannot be rescinded by the partic- r�=a� ipant or changed in any way without the written consent of the -"'i�� BOd Id. . ,:�4i t�::;- r,-a •s,�•^°' 7.3 �POSITTON OF FORF'F'rm�RLE AGaDC�NP ON TIIL�III1ATmN OF EMPLOYMRNT: x;�' If a attici t's em lo t is terminated for any reason other than ��;::; P P� P Y�n �:��'�-t,� tetirement, �ath, or total disability, while any part of his Account �+�'N in the trust fund is focfeitable, then that portion of his Account : i�� that is forfeitable shall be f orf eited by him upon his incurring a : ....k..,. � -d,;;� bzeak in service. Any amount forf eited shall remain in the trust � ;�.;.{ f und and shall be applied to the payment of plan expenses as provided n'� ii;:{ in section 8.7(a) with any excess applied to reduce the County con- _ r<�� tributions for the plan year in which it is fotfeited as pcovided under section 4.1. �'-^;� �-; � s'':;',� .1 . 7,q ASSTC'NhLF.NT OF BENEFTmG; All amounts payable by the Trustee '�'- � shall be paid only to the person entitled to them, and all such pay- �� ments shall be paid directly to such person and not to any other �'•:�' person or corpocation. Such payments shall not be subject to the ;;�='s`: claim of any creditor of a participant, noi shall such payments be +,:�".. ,;w-,. taken in execution by attachment or 9arnishment or by any other legal {r ` or equitable pcoceedings. No person shall have any right to �v_:" alienate, anticipate, commute, pledge, encumber, or assign any �: �;' payments or benef its which he may expect to ceceive, contingently or �: � m� � � -13- �.; L,�T'.x�, �:..� �, r i: ..v:We.�.~ . . ' ., � . y.` :��;;�� . - � . • 4Y • �a `��.- � , .. _ . .•` . K'l��-;� .`Yi..�':. . .. , - . . '"rY,;y:'s,r,:� . �.�s�j.',;': �',��..'; ,.4�::�.4�..,':� �'.��;a4�A'?�� . �x*.S�w�� . . �4�� *t�� 4':7�.';..-�r.'�i��57 t.'':_',:'?;';1 !- ..�� __ _....v� ___ _---- �na y .. �.,^�`��f,'� . i r'M � l�$ � _ , �!�„ � ' � i'_ Rf. �*'T7"' AtirY�F .i,r"'� �y�Y�y�1i t j4.�. .F.. : � � �i��i�. �r�i,yf�s: Y�. . ' . .�` �' ��,. 'e.�il.E:G't l.�tt'.i�.a. I;:'-- . . . . �:.::•. �:;;;'� �K�:.'i:i" ' � . . �._?�s,�. . �::�;�.r:ia :! ��ti;; r�-1 �'+�';"��.� otherwise, under this lan, exce t the ri ht to desi nate a ,�, � P P 9 9 �``i�- beneficiary oc beneficiaries; provided, that this section shall not c�:Y_� �� affect, restrict, or abridge any right of setoff or lien which the '�; trust may have by law. t M,S`,,.�=` �yl yi_ _).�i.�`"� ��i` T�'!"'x�6. Y. �•� � y ' ;�` � , �. . �� a �� yy � . � �. � �� i a� # .,. ;�.,.' . ��,^ � .r, � {' �e rj R . .-�� C�,. .i . . _ � d 1 I ''�c...,s�. . . . . � . ) � ��,; I ( t _. �'� � �. � . !-. f Q. i' . . . . .•,'�::. � : r! , .. �14� IZ �. - . . <'._��:' �. �_.. . _ " . �}`� � . �. . - ' . �. . . � � �. _ � �` . .. . . . :�. . ' �). . . � � :�,;.�%• ' . - .. � . - � . �La ' I . . .. •" . . � . . . . . . , .. . ., y . . �.r� . ...�.. .. ... . . � � .. �. :'�:. .. � � . . . . / . . .. .. _ � � � Y•.�.��V� .'`.r?;, :��}� ,:,.:`.,_ t �. , , �., ..� a ,. �4��^V. '' � �� i ��. t s k��tti. . .: �� )'r��V�h��r. '{�F �}., � f1 �.:�e. y � �h+4ti��-:' t �ttr��a i� 5��t�,�'t �Yi .,� �! :'�.+yu��:.wae.�...� ��lj�( Y�'r�-i-n k� ��w.�� ` Ek.-"r�`'"�L..._._�r �� r-,.'�s�ry Fs�' f?�',�'�s +�Fy �� '� � t�t . .:'�_•.,....., ;..'i.�.�,t'��' i.w�:a.h},r'�..:.+c .:.1�..�� .�.F'�r�t ..,.,.... 'y''��' n,.,�,i�`.-. h�. � "{t - f... ::.S:..f. C�.�.;�':. _ i . I I �'i�i �;}.�,��:,�� ART . . V T ZT (i'::,.� ��='�� EDM IN Z STRAT ZON `i.�� %'�� 8.1 APPOINTMRNT OF HOAUD: The Board shall consist of 5 members :t�:= . �``� �.`,•� with staggered four year terms. One member shall be the County ? Treasurer of Pitkin County. Two of the members shall be nonelected '`'� County employees elected by participating enployees under procedures �'� specified by the Board of County Commissioners and the other two mem- bers shall be qualified electors of the County appointed by the Board �'r,� of County Commissioners. The Board of County Commissioners may � r�,r�",�,-: remove any Board member other than the County Treasurer for failure i Y.� to discharge his official duties and responsibilities as defined in 3��`` the plan. Any vacancy occurring on the Board because of resignation, � removal or death shall be filled for the renainder of the term of I {�` such member b a y y �;T y ppointment b the Board of Count Commissioners. u' �r� �`= 8.2 OR+ NT .ATTON ND O . A ON OF HO RD: The Board may adopt ��' such pcocedures as it deems desirable for the conduct of its affairs, jy; provided, however, that the following rules and procedures shall `'' aPP1Y� �.'� r� [a] The Board shall act only by a majority vote of the entire _ Board, such action to be properly documented in writing and ;,:: filed with the County Clerk and Recorder. �; c-:, [b] The Board shall meet at least quarterly. All meetings of • }�� the Board shall be open to the employees and to the �°, public. „�s 4:: ; . �� [c] The Board shall comply with all applicable State, Local and � �� Federal laws. :: i. S:. {' [d] The Boa zd shall furnish each Plan participant with a report � ` of the value of his Account, including earnings, at least i �'� �. annually. ; � [e� The Board shall annually repott to the employees the { � !;:;- status, including contributions and disbursements, of each � ;'c account defined in this plan. �» t: � �' 8.3 INFORMATION TO BE MADE AVAILABLE TO BOARD: T o e na bl e th e s;- Board to perf orm all of its duties under the plan, the County shall �4 pzovide the Baard with access to the information that is available in County records for each employee as the Board may require. � Inf ormation not in the County records may be obtained from the participants. The Boacd, and the County may rely on and shall not be �' :� � -15- - r� i,• - �, I ...... C i :.€ �� •. .,n�'F .. � � , � ' . ^i;F � � � � - . r"•`si''' . . .. . .. �. . My.a*!� .. � ' • ... l�`IWy��.�'�. . . �h i"'i:".t� ' .. . �R�.�`!Y_'`��j � - ��t •.: S�,�''l�� . i?y"� ��'� ys«:{r'=4}'j� . ' ' . ',4�'�•: :`:;�a;-� i a�_�4�,.�- �� t,rS�4a,r.:+:,. !•' M�� :}1 .,, . z;,,`: � y �.tt .��,��„' y ,u ` .'� � � .w,d4c: Ff� �a. i r. �c- r �. ' �fx .� r �,2 M�r�.X �(1' St � r r � � L.. � �,{ c �.7 ,_, A y�4�� r i �.1YI1�» /-� ' �, � �y1�ai ��v%�� S 5,� 3�r,,I'�t .r r . `� +'�'�� -r•�rs'�� ,. r r }� ��;�rr,.� '" �� , ... � L�� '� t yt + � �p fs � r . a �y a 4 r.x � . t ..ti t- -`�° ..� r . � ..ia.!b}rl:�lr�� k�F�'�.vs.;�ramicirr+�i F.wv�1�.MS.i.�.�k:�:ir.dw.w.ii-�'ie�ksa'Ce'+H!a�•a. �.. �, :�'.a.3K k�'�t''-.1e�...R�.Nr+..'. � . . , �i`�;'�-.�+ . ;..:;,� liable because of any info[mation which an emPloyee provides, eithet . J directly or indirectly. ti�T;,±�'I 1 . ��°�: g,q �hFUAL. Dj�,`S`T-RR F��D POWERS OF BOARD: The Soard sha11 decide i� ;�,.�I all questions arising in the administration, interpretation, and � �";.' application of the plan and trust, including all questions relating ' to eligibility, vestin9, and distribution, except as may be reserved � +�t under this plan to the County or the Board of County Commissioners. ��; The Boatd fzom time to time shall direet the Ttustee concerning the ti� payments to be made out of the trust fund pursuant to this plan. All �; notices, directions, inf ormation, and other communications to and �'��; from the Board shall be in writing. �� g,y�:: ,�: g�r� nr�vuo*�m OF ADV ISERS AND P£RSONS TO GARR`� OL1T tn�. �.�4 �•SPOI3GIBIL•ITTBS: The Board may employ one or moze persons to u,� render advice with regard to any responsibility the Baard has under �,,k- the plan and may employ one or more persons to carry out any of his ;�'-� responsibilities under the plan. a� : �::,-'. y! �.;i ��. g,5 gp:FrrN. OF R£CORDR: The Board shall keep a record of all of its proceedings and shall keep all such books of account, records, ;� �,x _ and other data as may be necessary or advisable in its judgment Eor ��•, the administration of this plan and trust, including records to <�; ref lect the affairs of this plan, to determine the amount of vested ' �:== and/or f otf eitable interests of the respective participants, and to � �� determine the amount of all benef its payable under this plan. The !:�-�� Board shall maintain separate accounts for each garticipant as pro- . �" vided �nder section 5.1. Subject to the requirements of law, any �'" pe=son dealing with the Board may rely on, and shall incur no liabil- �z'.� �;�;; ity in relying on, a certificate or memorandum in writin9 signed by . l .�` the Board as evidence of any action taken or resolution adopted by the Boa rd. � ;:� � � �* ( . �:� ��' S.7 CnMAF!URATTON AND EXP NE_SF.G: �. �:: - �� [a] �: All plan expenses shall be paid by the plan first �; by application of forf eitures imder section 7.3; second by i �i? application of net earnings on plan investments, and then from County contributions; provided, however, that the 1,�, County, in its discretion, may elect to pay directly all or ��;`.r: any part of such plan expenses. {;s� �:.'�` [b7 S.�m�n -t�on -nd Exnenses of Board and Trtstees: No Board !;; Member or Trustee shall receive any compensation from the `� plan, except for reimbursement of expenses properly and actually incurred. t �a i Y.� �' -16- ��: i�} Y r.p fi . . . . . . n.��:� � .. . �� y� ��± � �"�`�Vry.:� . � - � • +;�I�.,,{ . _ .. . . ?..1�..+.,;1;Ej� . � � - • .. . ' �x'd�,.� � '�''v.,V.�.`.. .,j . ..�.,�`-..:::J�: `��,' i�:"� '.l, ,;��,;t:; . .?j..,�.�� . . ..esU�i-t l�'i�� . , �'��?r�.�w� � { ��:j 4.�j :_1�,,'�1 }: i ;, :t�` • . '-.�;;:, ;� , f��. . ,¢�}� .. h . z a /� _ � h y I� l�r T w K 6 4'�.tC �� ; � a f:: r � rGlq !�p''1 T X"t1 -t�Y'�.�_� �ILty, �1+5 .:.�,y7 �S'�f. > '} !tt . 1��f � r"4�f��"��t�p�� t�f��r.��i t�.,17'.��' �a�'�O �k1�.wi i �' � �� 3 �l ��s.�.. . � .:i} c� � . � �r .F. 5} � SwX � �'l?' �4 4 qn: ,, ��T�4�5,.�� j�� .�� 1 . ,�y(�t+��._y��'t�:� t >S y � ,� �� '' 'Y '?. �e�ydi.+ ��s�`�:y, �M1„� „ ,.... _.. . �_. __ ._ . ... _ ., . . �... �i�<..-.' .i;•�f.�.va.xal.v<�Ms '+��-�. i�.��.:ucn':Y6« ..t.,...��. � i�� f;i: y ;; � ; [c] �,omnensat+on o T �a} A Trustee who is not a full-time ,-;�:; ; employee of the County shall be entitled to such compensa- i:;';;``' tion for its services as the Boatd and the T�ustee mutually , ;�� shall determine. : � ; s a : .;�,�.,'..I (d� �nmpane.^*inn nf Porannc RctainPa O FR1PlOyed �ril Fi(]LG3dIV: k �� ;,;M��,'' The compensation of all agents, counsel, or other persons ;':`;: �"`'" retained or employed by the Boa�d or by the Tcustee shall j ` S�°'�'-"'' be determined by the Board of Trustees provided that a ; �P+YV,._ . *@'�' pezson who is a full-time employee of the County shall � :�y_c�4{, ! t�-`' receive no compensation from the plan. � a-<�=": �w::,, y g��:':_�. yr..: �y,•��-_ $,8 �'T.A T MR pR0 .D F.; . }.Y+� a`.�,,. �'�''�': [a] ��na and in�tia� Determ�nation_� .iaim: Any partici- -;�ri�;Y�, _ - pant, beneficiary, or his duly authorized representative �`'��: .�V:., may file a claim for a plan benefit to which the claimant '��;-, believes that he is entitled. Such a claim must be in � �� writing and delivered to the Soacd in pecson or by,certi- F � fied mail, postage prepaid. Within 90 days after receipt �: - of such claim, the soasd shall send to the claimant by cer- �b;� tified mail, postage prepaid, notice of the granting or - +u,,,, denying, in whole or in part, of such claim, tmless special '� �'� ciccumstances require an extension of time for processing "�`' the claim. In no event may the extension exceed 90 days �;::,;:,` i=�= fcom the end of the initial peziod. If such extension is +—�c�';r; � �;:.�;t necessary, the claimant will be given a written notice to ; ��F�.-�: this effect prior to the expiration of the initial 90-day �:`„', period. The Board shall have full discretion to deny or ;�i'`.r�� 4„��:Y• grant a claim in whole or in �rt. if notice of the denial �, �;,� of a claim is not furnished in accordance with this -.-;;�r.: , •• . paragraph [al, the claim shall be deemed denied and the „,;:_ =�.;� claimant shall be peimitte3 to exercise his right of review � ::,"'� pursuant to pacagraphs [cl and [d] of this section. .�' _�;,� ;n:-�:s� (b] Di�tv of Board �oon Den�al of Glaim: The Boacd shall pto- - �'��9 vide to every claimant who is denied a claim for benefits r":'::�' wtitten notice setting forth in a manner calculated to be : +:��7 understood by the claimant: ; y��'7 �,w.�x: , [1] the specific reason or reasons for the denial: E ' �;°' �'` �^ t2] specific tefetence to pettinent plan provisions +-� on which the denial is based; �;: ;,..�: . f�,�.. x=y. [37 a description of any additional material or �?i�� infotmation necessary for the claimant to �,�., perfect the claim and an explanation of why such ��,>;,`; material is necessary; and ! _ i�l ��Ai. �� . '�.7� ... L.. � ._..... ........... .. ... � . �"d . . . . ,Y . � '�:>\�I - . . . j �� . .�.r��`', � , . . � � _ . - . ,,�c�l 4 , �� >� . �`'7'��''.�� . � t��:?i, . _:,rt`,.::s� �`.�i,,.s,=�'„�. 'A'�+s,..r7Ynl�,� . _ .5.; •..�:'R44.,'�iy,�; � . :{�U�t,� ' • ' . ��y e}; �'�'`i"l;y�� r `- (H':h»_ . i�Y.f..'�;•� Y�..y�T��( . �.•;''°°":;�:`ua �. �; ;.:`';>�` `":•.ikr,fi ' '::7�:., � ` � .� � yx �..�r i - -. '� 'e.,r .ni r . s rY.-' ;i��,i��rr'. y-� �.. r. �t i 1{t�� '�uFN�' ,M��4�°" �S ] �� w�a. � ; !�r � . �i� ryf - a t '"iY. j.. �f C #' .� � '�. p + z . i a � � +r P �(,�,! �,R,�,_ �� ?�, i ��K�.�'�.::,r.l v'F�C,sr� ,,�i J �1v^Fft +� �� ,�"�i'�a •�F � �.L�3� �� i ��'� � � »� ,?..�`'t� � r��'S'/ I V.'1i�� f X Y� � . s �Y{� r k" � -� e�l r.�S�1.�.}f v t� ..s�.�'�v«Di �.�j f� �. .�-�'�*� ',° .�, �t � r.^r c x» 1ti�.t � t� :,,.r�..r.i�csee�<t�.:� . .� to. �1 .�<l+�1 ., � +t ar1'. ,` .. . . . �-s�.�.....,._._ _ . _._. _..._...�. ._..:: . � i . . �^i>::` �4'.� s:.: ,ri';:'`; [4l an explanation of the plan's claim review ��::;:� procedure. i� ' tie��:`�' [c) B�gLQst for Review of claim DP�,iai : Within 60 days after • '� `" receipt by the claimant of wcitten notification of the � �,,^,.` �:�. .� si denial in whole or in part of his claim, the claimant or � ,,� " his duly authorized representative, upon written applica- } , y,�� ( tion to the Board in person or by certified mail, postage F � ��; prepaid, may request a review of such denial, may review � �;; pertinent documents� and may submit issues and comments in � � '+`?} writing. U on its recei t of the re uest for review, the ��-.,. P P H � ��;r; Boazd shall notify the Board of County Commissioners oE the �e�.� request. Mr;,. �_°.�' +,"'�F� [d] C1a?mc Reviewer: Upon its receipt of notice of a request F��' for review, the Board of Count Cormnissioners shall a int ��,,;;� Y PP�� '�:_, a person other than the Board to be the claims ceviewet. ��"'J� The Board shall deliver to the claims reviewer all docu- ;�;;:�;,: �.��' ments pertinent to the review. The claims teviewec shall Lc;:�a � r make a prompt decision on the review. The decision on �'=y` review shall be written in a manner calculated to be under- ' �;:�xa. �-'��: stood by the claimant, and shall include specific reasons ; � �;;` for the decision and specific references to the pertinent 4� ; plan provisions on which the decision is based. The deci- }7;;�f sion on review shall be made not later than 60 days aftei a��sa;.>�: the Board's receipt of a request for a review, unless spe- ,"�';�'�: cial circumstances require an extension of time for pro- < ,;v;;;£� cessing, in which case a decision shall be rendered not X�ti;4''s i. k:�-,, later than 120 days after receipt of a tequest for review. � �'�� If such extension is necessai , the claimant shall be iven . ,:fi.a � Y 4� t;;c� written notice of the extension prior to the expiration o£ ; � i the initial 60-day period. If notice of the decision on ± � �%;,�; the review is not £urnished in accordance with this j _ ',.Y�?;�'`: paragraph [dl , the claim shall be deemed denied and the � "='�f claimant shall be permitted to exercise his right to legal �' � =�'��v remedy pursuant to paragraph [e] of this section. �� .n�N - �"ti�` [e] �gai Remedv; After exhaustion of the claims procedure as �';�:;rX: provided undez this plan, nothing shall prevent any person s;.'=;:r�; from pursuing any other legal remedy. ,��,: '�� ? a '; ��- f �'.:'C-^��+�4a' ��eti.Y ��K"4}y r +«�'". � 44'� %iy 4� 1;sC:A�.;," +"'-!a`,f,`+`.:K: �'�c:11 �j� � 2� �� _18_ : �: r<: � �� ..' � � s�-�� . ' Y. ' , � '=` }f y�;�� u , .. � �-��.i� � � ._: �l�t ��f�' S �4�'.'^;;� .�.�;�� y��„� . � . �� ' �r �l�;`�s'.,�,a . t.'- :ia '�,� >M'x �� .. . _ �* l y x.. � �kx��,.:�. 5{� .�:_. y �>a� 4 �Zy*.;. ;v� �a „t > v � ��r= �� > � ii t�r ,:r r � r. +.�, � Y�i� T t: '�` ��.{ �" � �" c4+�x'i{)�kY N�,a 3t�.�f b'+ +!�'C`! � 4 .+1+�{ ` :' d �' x i,f� . t..� J y 1>�i �� .3 gC.�f�yT! �i�4 rY 5 3 t tti 4 4.f�: �F.r.r� r cr � Gr�'� o�°� � �,±t�...�'.:,,,.�C .��._.�t*•�"_�_.:Ff.i�.'.e�rt/3fi�: .-..._..'.:?��yu�iW�..r....�.�..a._:_:-.�_., ir+��'k'. e �. .....'' . . _ , . .. . � I i !;'.:.�:•:'j � i�... � ARTICLE IX '!�;�*i POWERS AND DLITIES OF THE mi2i75TEE ( . - - - ��. „�t�;:�. `.�;;; ;+""i 9,1 T� . TM NT O TR i T 7ND: �''• N.� . �::.:,_ �."':� " [a] Duties of Trustee: The duty of the Trustee is to hold in 'ti--+ trust the funds it receives. The Trustee shall have exclu- ' �}`. sive authority and discretion to manage and control the ; assets of the plan and to manage, invest and reinvest the i �.', trust fund and the income from it under this article, with- !;`° out distinction between principal and income. The Trustee r;; shall be zesponsible only for such sums it actually y� receives as Trustee. The Trustee shall have no duty to :�:, collect any sums from the Board. E� ',.�e s,�� b�� [b] Powers of Trustee: The Tcustee shall have the power to ��;: invest and/or reinvest any and all money or property of any �•� description at any time held by it and constituting a part � of the trust f und, without previous application to, or sub- :`; �.� sequent ratif ication of, any court, tribunal or commission, � �-, or any federal or state governmental agency. The Trustees I ��=; shall be governed by the standard for investments pre- , scribed in Colorado Revised Statutes Section 15-1-304. The E � Trustee may invest in ceal property and all interests in ` real property, in bonds, notes, debentutes, mortgages, com- i �� mercial paper, preferred stocks, common stocks, or othe= F �� securities, rights, obligations or property, real or per- � k,:• sonal, including shares or certificates of participation � iissued by regulated investment companies or regulated �;; investment trusts, shares or units of participation in � G- qualified common trust funds, in qualified pooled funds, or ' +' in pooled investment funds of an insurance co�npany qualified �. :; 6:, to do business in the state; provided, however, that the �;� aggregate amount invested in cozporate stocks or corporate . bonds, notes or debentures that are conveztible i.nto corpo- � rate stock or in investment trust shares, shall not exceed � fifty percent of the then book value of the assets of the � trust fund. k � . ,.. 9.2 ADMINIGTRATIVR POWERG OF mgE TRiI&TEE; S u b j e c t t o t h e requirements imposed by law, the Trustee shall have all powecs neces- � sary or advisable to carry out the provisions of this plan and t=ust and all inherent, implied, and statutory powets now or subsequently ' provided by law, including specifically the power to do any of the !j following: i � i.�; � ` . - -19- i i �:. i . `,:'�.,'� .. . . . . . .Y . . �-yj.4{� . � "3.r4 � . . _ .. . .. �j�� . � � ... , . � %.q �4�. )i�{�M:�:...�) ... . .el,X"'',Y ...�;"y��;'S,�:19! ��i.ii�:y � . � . . �1•'ertt';7 c,� ' . 2 n'+n, Y'iS;";rp� • �� . . , . ai�' � . .7�?:��w.� �� ,`I l'''�;:""...�"�'�,..^'',�� t.�. .;:� �� "�;' 1�f.iK. � � j�; �y �y j�R .,t:SY.�..V HtAY1'rX.'t<,�.nf.�n,7•{�y.'�Jler ti....r. .. ._a}F". . � .� ..�nw�t4}aL�d...w..wl4a.�u'niS:±} �_.._. ....�w� .... .... a... ! .... `�.}` . . . f'. 6 . :' 'i � ��;. . �j. i .'.� ' � [a1 to cause any securities or othet ptopetty to be registered �;-.:`' and held in its name as Trustee, or in the name of one or ''"' l more of its nominees, without disclosing the fiduciazy ;,�:`.t:�� capacity, or to keep the same in unreqistered focm payable ';.:s to bearer; �c: ;i��rj Ib� to sell, grant options to sell, exchange, pledge, encinnber, , � . + moztgage, deed in trust, or use any other form of hypothe- � i cation, or otherwise dispose of the who2e ar any part of �`rr,� the trust fund on such terms and for such property or cash, �`;`� or part cash and credit, as it may deem best; to retain, I ! _- ��-� hold, maintain, or continue any secutities or investments L �� y part of the trust fand for such length � which it ma hold as ��. of time as it may deem advisable; and generally, in all '�'.�;� respects, to do a21 things and exercise each and every t:�'+ <.y;Y.�;,,� tight, power and privilege in cnnnection with and in rela- , �,;:.; tion to the trust fund as could be done, exercised or exe- t�:�� cuted by en individual holding and owning such property in ?:T^:•. absolute and unconditional ownership; `��::;:r �'�w=' [cl to abandon, compromise, contest, and arbitrate claims and M:..,, ;�;;�,�;';;: demands; to institute, compromise, and defend actions by �-;:.r;:; law (but without obligation to do so); in connection with �f.;;{� such powers, to employ counsel as the Tsustee shall deem - advisable; and to exercise such pavets all at the risk and -,� �,`�, e�ense of the trust fund; F�-,.,, �, ,.;; [d] to borzow money for this trust upon such teLms and condi- 'Fr=�� tions as the Trustee shall deem advisable, and to secure r-�� the repayment of such by the mortgage oc pledge of any ' ti�:�,,: '`ti-�' assets of ttie tzust fund• i,� . �i'`��µ<. . �;'-�,;�; [el to vote in person or by proxy any shaces of stock or rights ', �'�'� �. C��_ held in the trust f und; to participate in and to exchange � ti,� securities or other propezty in reorganization, liquida- ''' ��: tion, ot dissolution of any cozporatibn, the securities of s=.',=}n which are held in the trust fund; and -;,.<.u;. :�r: , 5�'= [f] to pay any amount due on any loan oc advance made to the ` t=ust fund, to char pay ` �'' ti;„;}=; ge against and fsom the frust fund }i� all taxes of an nature levied, assessed, or im sed u ��,�ss� Y Po Pon :�=,�� the trust fund, and to pay all reasonable expenses and �.,;r . T;�.�;� attorney fees necessari,ly incurred by the Trustee with ��'+��s:. respect to any of the foregoing matters. �� :;�:=t;'° 9.3 Anv . 0 7NSF. .; The Trustee may consult with legal coun- ��;��: sel, who may be counsel for the County, or Trustee's own counsel, �^�t`'�^�r. with respect to the meaning oz construction of the plan and trust or �«r'"'`` Txustee s obli ations or duties. The Trustee shall be ;,1;�-�->: ' g protected from �.crr�`4;'� . ��'` .� r �'� ?, �".��... �.�r �iha' —2�— � _.: . ��' ,..0 .:,:; I: �� , ;.:� , :, ..�..._-------- _ _ - � --_�._...._.__--___-----------�. , . ,, _.r�... :..�,r_�, .�„�r......_----- ____ ; . �, ., , _� �,,� � r ��1�� 'Y}'14E�`4 J!1 . - . . . . ��'�".� ' � � � •� • .'a� ,- , . . ..,, , ..�"k$.-�1 . . _ . �a`+':r�'.�4 � .. .. . �Akt4•',..^ � � � � . ��:a,i,(�t��';� .. � .. �.r� � .. ... ..t:�4J��{�%2•.j � ; x,�,�.'.il'Y. 4y' .li-�'h)� . Y�:y N r��'�� ' . ' . ��:�� ' .n.m. °ti �`�`�� ' '�,r�.�:�,.., ;f?r�, '�`°,'l �•r:: �� .. ' .. *a .. r . i i ..: i � `w. { Y� � � t.ip � {: i 4��3 sr � ��r r � 4 r ��-. • _� {� 1�4 .� rc �,.. '..iyn,y �.'+J .y.. �..�,, tt.. t 21 tt tG 1�}��L� jt� c � a � v" + �.kr t.'4� e tr a'A q � v �� j�.b-��•��"3� 1 5 •f h..'- / ' �+� � �x:t { '�; r- ' � .n �V-�a*,x.r .e St'L�....,:,: '1 n„ x� * ' ' 1. 4 sf� . _ _.._ ._ �_=:11_..c..�.-s.r _ -y..'4 .�1.� �_ ...._y........ r`.:Y,'r!q .i'_�'� ._. _...r_.,?. _,._._,. i 1 I i, ; any responsibility with respect to any action taken or omitted by it in good faith pursuant to the advice of such counsel, to the extent permitted by law. �;:';:,' '}' - � 9.4 RF(`ORAG 1�ND AGCOUh'^ O mgF Tg rc�r • The Trustee shall keep �' �; all such records and accounts which may be necessary in the adminis- tratioh and conduct of this trust. The Ttustee's records and �<' ;`?'Y`°•-�I accounts shall be open to inspection by the County and the Boatd at �` a11 reasonable times during business hours. All income, 3 � ��,�'°'.�i Profits, � °'<°�_:i recoveries, contributions, forfeitures, and any and all moneys, secu- `1"°-:.�`' rities, and properties of any kind at any time received or held b ��'-�`-� the Trustee sha11 be held for investment ur y �=�:-�;,� p poses as a commingled ��`:_:;.� trust fund. Sepatate acwunts or rewrds may be maintained for oper- ��,�-:-,' ational and accounting purposes, but no such account or zecord sha1Z ��r�"�' 9 9 g y property fcom any other ;,�;�,=•,; be considered as se re atin an funds or �'�°�' funds or propezty contained in the commingled fund, except as other- !^�,�:;; ��t,�?; wise provided. After the close of each year of the trust, the #'�::;�;�:i Trustee shall render to the County and the Boatd a statement of �`��`�' assets and liabilities of the trust fund for such year. �`,'r, �. t`" ( ; " J 9.S APPOTNj'MFNT R T A TON R MW T j�Ty� Sj QP7TfITT T . , ti�_ OR OF TRTISTFF; , ��"'; The Board may serve as Trustee or may appoint a Trustee or Trustees, ` y x�r,,;y each of which shall hold office until resignation or removal by the z':?=:;-� Board. The Trustee may resign at any time upon 30 days' written `; a,; notice to the Board. The Trustee may be removed at arey time by the �. I Board upon 30 days' written notice to the Tzustee with or without ' �''�:�•:.i cause. Upon cesignation or removal of the Trustee, the Soard, shall `�'�'=°;� appoint a successor trustee which shall have the same powers and x""��`� duties as are conferred u on the Trustee a �.��s: c:: P ppointed under this plan. ��',?�;:� The resigning or removed Trustee shall deliver to its successor �� . � ;J trustee all property of the trust fund, less a ceasonable amount nec- � k�J essary to provide for its compensation, expenses, and any taxes or � 7 advances chargeable or payable out oE the trust fund. if the Trustee _ i':;,j is an individual, death shall be treated as a resignation, effective ;�:'s:?<;� immediately. IE any corporate Trustee at any time shall be metged or "'� consolidated with, or shall sell or transfer substantially all of its �:""� assets and business to another corporation, whether state or federal, �'��~"� g porated in an �:;:�:1i, or shall be reor anized ot reincor y manner, then the i 'M:.::'� resulting or acquiring corporation shall be substituted foc such cor- � �:=��.;'� porate Trustee without the execution of any instrument and without � ,�.... ��4` an action u on the .� y p patt o£ the Board, any participant or beneEicia- �, � ry, or any other person having or claiming to have an interest in the _� trust fund or under the plan. .� : � ,' �� 9.6 APPOINTNLN�' OF TRC TF --A C � N F rN wRrmTNr; The Trustee � shall accept its appointment as soon as pzactical by executing this �'':{ plan or by delivering a signed document to the Soard. The Board � ;��`,.- K:-�'!�'. - �tr 1' —��_ j : ��'-`� y�r. 5-�t„_ Ziisi} �_ :� �._.. . ........... ._.��.��".�_'�__...___... . . . v _ .. ..._....__.... ._... . .__.�.__.... �Y - ._....:..... ... . . . .._._�._ - . � � .....-: .�...-:...:.. ._..��....:_� ��, . . � . . �i"ry({i'�(,11�t'"� . � �� : y ��S«�(::f . ... . .. . . ' � ��'� N � ±�'��k�k � ' ... � . ��.'�{!.Ar:;� .'' ��f�' �.'.� . i.y N+s' s.. P j'.'.� ,�+u,.� 4'd �s�"+j�"!�.N� .. . . ��c{a 'R 7C'i"�l�l,y✓)" �.� _ �;�� d�l� i,t�J . �w , �� ;, ,:..sr��^' ->i:,��, , _'.:.;� ,�, y � � �� +n � <��}}��.��"�+i::�a.�7<� fa��'i WJw` � � it4�x�+''��f �,t�+.� r�.r �� ) n �.�s: '� t�#� h � . �"i � t*! � �� '�' �_ a�t�k.t � �i�.. '1 •�r ,�r:z h*'� -�� ..�'a�y �y`+�31rs ��t �,�� „ �'�t Y'` {��t��Yte,r4'�W, r�*��,� '� "�� t`��%+ui'"y'}�!�c �P "��'G� �'�sn�S ��, F L`�� .4 fi�-�r. at , �t.i., �, rr r�f �- a '?i��,.'� �..:�deacf�sk3�;rv7� .. � f �i.:�dk�.��'",4'.�'��s .,... ,.. _ __ �.,��.��:��+�.��..�r � r ::� . _.__.. .. .. . . . . � _...� � t �� " �� :I ' � ' ;'.i':�:� . S `_:_ ..'f � �^,��.�;c:: ��`. � . �i"`�' ��'i �''•.`1'' .�i `��.� �� shall appoint a new Trustee if the Trustee fails to accept its `�'_'��' appointment in writing. �� . �* ' r; .�1" "i 9.7 TNV •G MENT AwA. .R: If the Hoard so directs, the Trustee ,,�,�,� ��-r,?r;,;� shall appoint an Investment Manager to assume powers or responsibili- �,,;, F �� ties for the investment and management of assets of the plan. The ��>��, � � Investment Manager shall assume full liability for all duties and � ."�'�"..�'�� ' powers assigned to him and shall be subject to the fiduciary stan- k��;.� dards and respo�sibilities imposed by law. The Tcustees sha11 not be i, � J�"".,r.;�, liable for acts or omissions of the Investment Manager nor shall the ��'�:y�;'�� Trustees be under an obligation to manage any assets of the plan that �;.._,:>,•% �.`� are subject to the management of an Investment Manager. Nothing in � �` this r � y y y x:.�„�5� pa agra h shall telieve an Trustees of an liabilit under the t_ro�� plan Por any act or omission of the Trustees. The Investment Managec �� ="'�:, shall 6e a fiduciar [a] who has the �. y powez to manager, acguire, or ° &�.r dis ose of an assets of a lan; [b] who is [il re istezed as an .n,��' P Y P 9� �" <� investment adviser under the Investment Advisers Act of 1940; [2J a ; ��;`.;�� bank, as defined in khat Act; or [31 an insurance company qualified ��`'Kd � '- to perform sexvices desctibed in [a7 under the laws or more than one �';`�,�� state; and [cl who has acknowledged in writing that he is a fiduciary ! :� �~"' with respect to the plan. � �,_„ �s�. :�,, �i:i. 4>,��"!",2". ti RwZ"�'p�: ��'��4ti ��' � � t. � �.?'S� ,�-�.."�„�� '��1. ..��,� i -.�;,.•�.,'; �� ', jq:�� . �aL . . t,4�e'r_:, 1 . . H.Sn'�''� . ��.: : � �,�.`-y�, � � � �:kC-d:'Y 1.... . �... . ��• �n i,o'�(�7.+rw . [��t'nF . ��.,��r�� .. � � � �r �� . .,y�7e��. � t� ^ZZ- � � ' i � _____._�._.�.r..._.,.-......,.w.. . _ _.,_- ,..:; ----_ . , .._._.. . ....w...e.,;,w:�.wr,.u�a.:..,w�...-W-- `,�`3� .. � � � "� ....�'�9e,.� _ . . . . _ . . .. . n;'�� _ , - . . . . . . . � . . . . . � . . �.��ri:� . . . . . . - � . .. . .:b?'; . � . . . . � „t.,;,t� . . � . . . . . . . . . � P!S � . . � . . � . 1 I ��''�"�`'� :�• . '>�`:;;, � . . _ �r �>r�. .. � � t }�.,� ,� 5�s�, I '�' � :� 4.r�t �pti: - • 4„�n��7�rt�(��'� t d�a �h �, ,i,}kr r .k �ri� i'�r a� ;�� ,< ,� " �r��S �X't`r.,�.��y� rr ' r � a 6 �"1�+'�t('�4�..< �„e a.�.r�ti ��" ; ' [ w�':n c�' ��,t S,�' �i� Y .4 4�i .�� 4 +{ tI�' l `1},, �F � jf( /� K �>'�:fc .�,a ts.s..r_��V,l'i�1 . 4 1 '�a�' 91 '7�,,�`�y d�` i �t'10'��.a��_f5..... .r�.� �. .. .- .R':��. Y�.�C . . . �r _ . , .. „l:.f.�tcu�..��.14.�.S3d'�-'.Fw�T'�'SI.: r.aE,u'r+wY. I � ' _ + � ''`/ I li`'-":�1 :i:'�,`;, � BRTICLE X . :i 1 CONTINUANCE. TERMINATION. AND fir,=''::: � ANLF.NDMRNT OF PL•AN AND TRIIST 1•�.i,��?.'�.`s..� 7 } � 10.i TERMINATION OF PLAN ,B,nrD R t m: � � � � ,�� [a] �enera? Rules: The expectation of the County is to con- � �"`;F tinue this plan and trust indefinitely, but the continuance } ��'�'^�" of the ��;;,� plan and trust is not asswned as a contractual obli- l,� gation by the County, and the right is reserved to the Gyx "� County, by action of the Boatd of County Commissioners, to h;�,.�-- terminate this plan and/or trust in whole or in part at any �-�=�:�;;� time. Such tecmination by the County in no event shall �.;�:;,:,:�,:, ..,, have the eEfect of tevesting any part o£ the trust fund in �� "��I the County. Notice of such termination shall be given to .��x;1 the Trustee and the Board in the form of an instr�unent in ,�;�.:,� writinq executed by the County pursuant to the action of ;��^'`�a the Board of County Commissionecs. in its discretion the � 1 _� Board may request a favocable determination letter from the S Internal Revenue Service statin that the rior 9 p qualified *: � �`ga., ' status of the plan has not been affected by such r �'`=^ termination. Termination of the lan and/or trust shall u;•.:�:-�.� P ;=��;-::. „.r,i:, take ef�ect as of the date of the delivery of the notice of �`�"' termination and favotable detezmination Ietter, if �'=�"��:y'; obtained, to the Trustee. i , � �i '' [b] Termination o �an and Gont�nu nce o m u : The County, ��--=��' by action of the Board of County Cmmnissionets, may termi- ,�;.::;�, � . nate this plan but retain the assets of the trust fund and , ,- � �� '�'= pay them under the terms of the plan as if no plan termina- :�'`,� tion had occurred. In its discretion the Board may request '<��;;, a favorable determination lettez from the Internal Revenue - '='-"�� Service stating that the prior qualified status of the plan , '` ,,.., ��,;,,,, and trust has not been affected by the termination. The '-;'-•;i;= tecmination of the plan shall take effect as of the date t.'?;:;; specified by the Boatd of County Commissioners. If the ��:�=i�'' plan is terminated under this paragtaph, the trust shall `�"','_� continue until the earlier of such time as all assets of . ��:- the trust are distributed, or the Board of County ° �;�� Commissioners terminates the trust under section 10.1[a]. f .. �_;_:i,. - �--� ` 10.2 MERC`ER CQNSOLTDATION OR �tANSFFR OF ASRETS OR LIABIi.7TLF•R OF ��?,,� mg£ pL.1�nt; The Board o£ County Commissioners may merge oc consoli— � - date this plan with any othec plan or may transfer the assets or �-d .� liabilities of the plan to any oth er plan. .¢J�_p4":±. S� ' � �y�o,�.° ''l^77�:�^. f±�:= ::. s , I r 1i�` r� —23— '�`� �� r� r. . '+' .-'._. .._ _.__----L__._..�---�--.... . .. .,_..,. ....`__._.__ _____.___.....— t,. h.�+(' _ -.�n.... .. ...._.. ..n...,..- �..,. �i ��,��Y+'(�� . �y �'-,r�^'` 4 e��•.,,� - . ��-� ., �'`='1 :� - • -_ �'�k� ' �FF Y� .°� � .. *,��:•.'.}...:i.:�?� � -'�:�� .,..?��i.�� . � ��;' ��.�� i . � � �,� , s,�r"''�¢'y� . . t� _ t� �;.�.�`�"' `k'"�'.,.��++ . �- .a � :".1.•}'�`I . , , "4Y,;+#'-'7it. .� ` �^'� y�.(1 . t.:.. . � � �ta��k��.j�y?r 9 rs°}-WT� F�.:''�x� �.�^.t. ;�,.��9c�.�y��r(t,.�1'} . .y�� w h S � .. FI� i +;'4iT��n"�ae ��.j6}! {�.� ��4/�°�'' +a rR..,.._ ._ � v. r pt.'�1 � fr 4�Y• � .�t��l+d`y ^J .h., ` ; ^�FV' �itiF� � ,��L`°'�.��M'� r ��i'��; � .1. ��t Y r�p�a 4�"t�`� ,��i�.r. �r� r w�.�.� s �; r� . �.a�.��.r•'�r.,*�...�f.+..':,•-�TM � , , �x ;:) ;i i ��.r-.:..Y.; f�:�+='-i''.:.� 10.3 D RTg TTON PON . M NAT70N OF TRUST; if the tLUSt i5 t'� i terminated under this article, the Trustee shall determine the value �f '?� of the trust fvnd and oE the respective interests of the participants �'c';?:�>::i ;;,,�,;._��, and beneficiaries under Article V as of the business day next follow- � �� ing the date of such terntination. The Trustee then shall transfer to �� '� each participant or beneficiary the net balance of the �rticipant's �. r " Account. c � d � :. .''^1Fe�..z . F.,. 'r'.�''t:,'s.s� 10.4 AMENDMENmG TO `"� � ��,��, ,pJ.Anr nrfl TlttrsT; At any time the County may � ��;,�i+�� :, • , �..� amend this plan and trust by action of the Board with the appzoval of i ,�-�?��" the County Board of Commissionezs, provided that no amendment shall f 1`�°�'�,+t' : ;';i.=�<��"� cause the trust fund to be diverted to purposes other than fot the • �rt�y�w, �:;�;. exclusive benefit of the patticipants and their beneficiaries. No � ��, amendment shall decrease the vested interest of any participant. 'r t.�,;;fi Notwithstanding anything in this plan and trust to the contracy, the �:a,�3;� plan and trust may be amended at any time to conform to the provi- ,�``��4> sions and requirements of federal and state law with respect to F"�"-A.-�:R' employees' trusts ox any amendments to such laws or regulations or ;�.•.:,�, �' �-�� rulings issued ursuant to them. No sach amendment shall be consid- �=� ered pre udicial to the interest of an ttici ant or beneFiciar }`�''";� under this plan. y � P Y �� ; �" � i ��ry: �r�'�- ��; { �ror-A`�`r i � r �:�,�, �. < �+Kr�'�, , ��.,; �. ��:,. , �'� - ��.fi � �xk' �i � 3 .. :�Y.',� ! �a,h ti T �-: � ��-��,�:� �. '�."� �. �- =::��" `,�� €��\~ r�' ,a,� �� ' �. - �.. -24- F;. ` _•--. .._.__..._" ... - .�.�vu.ww..+rw.W.. '"_... . .._..__...: ... , . , . . . _. . , . . � . . . . .. , � ... . ...�_r. . . � ��,�^A .. •' � ... . . . . .. .'� . ' .. . . . . . . . ' . . . I + �t�"`•�,�•,-:� "'�.�' :.:fi::r Y h� ai , � ' � - � ;lCasL¢`��.T9!`3.t�W+.RS�'.�e': . .:.r ._, K.aw:..a.1..::5.'au":......�yu:�.�'1°^�,... ` __...��..:..x.9✓_...,_.._�...`�._..ak"',r,;:� i.. ART TCT•$.XI I +:'`^"��-i MTS -$j;� N .Q TS yr.;i,::i ...;:<,; a4't.- '�:.::'i_i ��'_;,� 11.1 RFNRFTTG TO SF PROl�7D .D SO R •`� FROM THF TR T T FLND: All s;;>;-' :' benefits payable under this plan shall be paid or provided solely S•'� � �; from the trvst fund, and the County asstm�es no liability or responsi- ' � ; bility for payment of benefits. ;-� l, I �.�-;:� 11.2 �9TIGFS FROM PARTIGIPANmG m0 BF FTr,FD WITH BOARD: Whenevet � �'�;;.� provision is made in the plan that a pazticipant may exercise any � . � '�"'� option or election oz designate any beneficiary, the action of such ��'�;:,'y participant shall be evidenced by a written notice signed by the par- i ��r�'� `�,,,�� ticipant and delive=ed to the Board in person or by certified mai].. ,�:;- if a fotm is fucnished by the Board for such purpose, a participant :�:.�•`' shall give written notice of his exercise of any option ot election }�""� ot of his designation of any beneficiaty on the form provided for tn�'°'" such purpose. Written notice shall not be effective until received r�,�..� ��,�a by the Board. n��w.�� }�s>> �'��_"� 11.3 TFXT To c N�mRO�: The headings of a=ticles and sections are �tis F?-y� included solely for convenience of tefetence. If any conflict ,.;:.;;. . between any heading and the text of this plan and trust exists, the � ?. �! : text shall control. r,-.r.,:d y'�s"�; s`,4�"�',' �:. 11.4 $$VFRAB7T.7Ty; if any provision of this plan and trust is �-�`�� i11e a1 or invalid for any reason, such illegality or invalidity r.;�:; B < �,�.;:: shall not affect the remaining pzovisions. On the eontrary, such C�:'�`: remaining p�ovisions shall be fully severable, and this plan and ��?s trust shall be construed and enforced as if such illegal or invalid k�.;�;: provisions never had been inseited in this plan and trust. �" � 11.5 ,TlTRTSD7 -STTON; This plan shall be construed and administered �v F:::;r�,. , .�.�a under the laws of the State of Colorado when the laws of that jurzs- ��.,;:, ,�„•yI; diction are not in conflict with federal substantive law. ":,`,��: �Cr4-.s ✓� �>:�:r° 11.6 pJ Ah FOR FX LUR7V� BENRFZT OF PARTICIPANTS: REVERGION � ;y'��:t ��; pROHiBiTED; This plan and trust has been established for the exclu- , .;, sive benefit of the participants and their beneficiaries. Under no � circumstances shall any funds contributed to ot held by the Trustee �dv'•' at any time revert to or be used by oc enjoyed by the County, except ^�+='`� to the extent permitted by law. �;;��r;.. ��'- �a.F� r l�„'? �'�� ,9 �; �ZS— �rt ? � 1 • ��" �' y `' �. � : �� __._....__.._._._..._�__�� _......._.__._.._.__._ ....._ .__...�. ""—'�_'_�__-....�"�-_�`�"___ ...._._... _�� ' ,�.1? � . . . - � ..� . ,; .. ..�., .. . . .._. _ . . .. �� .. '. ,:q , i�i } � . .. � � . ,.:��' . � 'J z' � . '*-�: �,r�.�� .,.4 . . ` ' . .... ��w*-::� �.�`;��1`:4 . '_i;;�y,,>.;,��'.`�:� � . ,��;,•.� . �i y's Y �Mw� . . u�'.� ,AYt ,L,• ��y��? �� a .-l.:�7'J :i...:'«p_�� . 't'}��4.;��r. � ' ' r � t�. / �'�"�,i � i �,�t�`k'i'��y�'y„g ti`.� ��.��''4�' � � �i!��j''t:k.'�� W.. i+ � ,F �z.�e :� +.� 1 n ' ,��a.,� ,sl a � � � u .4�E� cu x�a� ;r�t�' 1`s'!x�' t ti- a�� . i � '�S,o-. � �a �•�n'�J�' � 4 ��,�-�. r��y,�"". .},.7 s!�� {-3�t` ��,��yl��i.,,�,,.,� (�`�� .�u��. �� k�a��k�� ct A .: Ii�r`�1YY �SF"��iy��.� } . .l�r.'.:r_ .. 5"�... . i�.a ��l�• . .�..,.. �:M t... ..__ . ...- _ "'s.'::. J :` ('_M- . . . ' ,,� . . � ' ........ .... .. . . � . . . . 1 � , � ��, , ?C �wtt`` ��' � !�^�:.^�'" . ;r;;�,; IN WITNESS WHEREOF, the parties to this agreement have % . � executed this document by their duly authorized officers this � � . ��:�L day of _DE ER , 1983. y�s�Aj:i - ��t'� "` (CorporaCe Seal) ��. PITRIN COUIITY, CO ORADO �'."-�'c�#;,' f;:,x; �._>: I . �T` � �>•-� AT -------�_ a,.a:�.,: By: GI .t Ga � �� ' I�:� ! ��,��; 5 .• '1. . -t.•...: . f,. �'�,�'.,�',' i.:,•:,� � ecretary i �: i`.p� ,I PZTKIN COUNPY PUBLIC EMPLOYEES' i . �7I. �•::. �' n : °, `:`� �'i �'} :� RETIREMENT BOARD ��''�' "L'� a>.`.�"S � .� �� ,• ' •R ' . �., �� .��'•. . .. By: I �: tk �j, � � . .. .�. ....L..�; . ( �J �.��`,�` � K{i`� ��",�_ TRUSTEE '�;�� PITKII�1 COUPITY PUBLIC EMPLOYEES' � ' �"`�`� TIREMEIQT B ARL�� s..� By:_ ��i�.�. ' . _� g /�� . y� � �ry �� _ , / � � ��' By: ��> 4:�i�-�. �,- � "�- ,�;' � ��:: sy o -.o.�:,-? � :� � By:_ ��u� � � �� .� � �# � :. ��,.: ,C.''f4 r_.. IR�; �� i:�. i �:,; —26— !; •.'. i � I , __., _ ,... .._`.__. _ �� ----- ---- u��:.�c�ir:s»va�..'�kti�w,es�l�+�"""`'"'"""'�^^—u-�.--1 `� • � :� - . f�� - � ... � � ' . . . . .. ... 'M��' .� . .. . . . . . . . . ��'i: . � . � . � . . - �. -6, . ._. . ' . a � � �'i=�J',91 ;.�