HomeMy WebLinkAboutEmployees Rendering Valuable Services
Augusta Richmond GA
DOCUMENT NAME: t: ryW I O'{ e. eJ> T e,hc:k"-;J Vcd V-CAbk S Cr"'; CG
DOCUMENT TYPE: ~ e30( LA -t \ 0 I')
YEAR: () \
BOX NUMBER: 1 ~
FILE NUMBER: 1~2()\
NUMBER OF PAGES: JL
..
RESOLUTION
Account Number:
RESOLUTION OF AUGUSTA, GEORGIA.
WHEREAS, the Employer has employees rendering valuable services; and
WHEREAS, the establishment of a money purchase retirement plan benefits employees
by providing funds for retirement 3!ld funds for their beneficiaries in the event of death;
and
WHEREAS, the Employer desires that its money purchase retirement plan be
administered by the ICMA Retirement Corporation and that the funds held under such plan
be invested in the ICMA Retirement Trust, a trust established by public employers for the
collective investment of funds held under their retirement and deferred compensation
plans:
NOW, THEREFORE, BE IT RESOLVED that the Employer hereby establishes or has,
established a money purchase retirement p Ian (the "Plan") in the form of: (Select one)
o The ICMA Retirement Corporation Governmental, Money Purchase Plan &
Trust, pursuant to the specific provisions of the Adoption Agreement
(executed copy attached hereto).
o The Plan and Trust provided by the Employer (executed copy attached hereto).
The Plan shall be maintained for the exclusive ben~fit of eligible employees and their
beneficiaries; and '
BE .IT FURTHER RESOLVED that the Employ~r hereby executes the Declaration of
Trust of the ICMA Retirement ,Trust, attached hereto, intending this execution to be
operative with respect to. any retirement' or deferred compensation plan subsequently
. established by the Employer, if-the ..ass~ts of the plan are to be invested in the ICMA
Retirement Trust.
BE IT FURTHER RESOLVED that the Employer hereby agrees to serve as trustee
~nder the Plan and to invest funds held under the Plan in the ICMA Retirement Trust; and
BE IT FURTHER RESOLVED th,at the Payroll Supervisor shall be the coordinator for
the Plan; shall receive reports, notices, et~., from the ICMA Retirement Corporation or the
. ICMA Retirement Trust; shall cast, on .behalf of the Employer, any required votes under
the ICMA Retirement Trust; may delegate any administrative duties relating to the Plan to
C:\TEMP\RESOLUTION administrator contract 11-14-01,doc .
appropriate departments; and is authorized to execute all necessary agreements with the
ICMA Retirement Corporation incidental tot he administration of the Plan.
Duly adopted this 7 -z;T day of -M7/'~ ,2001.
AUGUSTA-RICH~ C;;UNTY COMMISSION
.,!:Bl, ::; . ({>>
\J1' As its Ma or
I, Lena Bonner, Clerk of Commission for Augusta, Georgi do hereby certify that the
foregoing resolution was duly passed and adopted by the Augusta-~hmond County
Commission at a regular meeting thereof assembled this '7. day of
)J~ ~ ,2001.
Attest:
ciA~
C erk . .
C:\TEMP\RESOLUTION administrator contract 11-14-01 ,doc .
FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
This First Amendment to the Employment Agreement executed by and
, between the Parties on April 3, 2001 is made and entered into on the 7th day of
November, 2001, by and between Augusta, Georgia, a political subdivision of
the State of Geo~gia, acting by and through the Augusta-Richmond County
Commission (hereinafter called "Employer" or "Commission"), as party of the
first part, and George R. Kolb, as party of the second part (hereinafter called
"Empl.oyee"). Employer and Employee may also be referred to individually as a
"Party" and jointly as the "Parties".
WHEREAS, Employee de~ires to participate in ICMA-RC 401 Pension
Plan Corporation.
'VHEREAS, It is the desire of the Employer to allow employee's
participation in said plan and to arnend Employment Agreement.
NOW, THERFORE, in exchange for their mutual good and valuable
consideration, the receipt and suffidency of which each Party acknowledges, and
intending to be legally bound, Employee and Employer agree as follows:
1. Section 15 of the Employment Agreement shall be stricken in its
entirety;
2. Section 15 of the Employment Agreement shall be replaced with
the following language:
"Section 15: Retirement
Employer and Employee agree that Employee will not
participate in any Augusta pension or retirement plan.
Employer agrees to execute all necessary agreements
provided by ICMA Retirement Corporation (ICMA-RC)
'for Employee's participation in ICMA-RC 401 retirement
plan. In addition to the base salary paid by Employer to
Employee, Employer agrees to pay the maximum annual
amount allow by Federal law for the 457(a) into the ICMA-
RC 401(a) retirement plan on Employee's behalf.
Employer shall pay the required amount in equal .
proportionate amount each pay period, and shall transfer
ownership to succeeding Employee's employers upon
Employee's resignation or termination. The parties shall
fully disclose to each other the financial impact of any
.J' . (_
amendment to the terms of Employee's retirement
benefits." .
3. Except for the modifications made by this Amendment, the terms
and conditions of the Agreement shall remain in full force and
effect.
IN WITNESS WHEREOF, the Augusta-Richmond County Commission
has caused this Agreement to be sigm:d and executed in its behalf by its Mayor,
and duly attested by its clerk, and the employee has signed and executed this
Agreement, both in duplicate the day and year first above written.
(.).A.
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As its Mayor
ATTEST:
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APPROVED AS TO FORM:
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, Attorney)
C:\TEMP\AM ENDMENT TO EMPLOYM'ENT CONTRACT,doc
LAW DEPARTMENT'"
Ms, Vanessa Flournoy
Staff Attorney
525 Telfair Street -AUGUSTA, GA 30901
(706) 312-5520 FAX (706) 821-1806
MEMORANDUM
TO:
Clerk of Commission
FROM:
Vanessa Flournoy, Staff Attorney \~
Law Department
SUBJECT:
Amendment to Administrator's Contract
DATE:
November 28,2001
Attached hereto is an original executed Resolution and First Amendment to the
Administrator's Contract for your file.
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Enclosure
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Enclosure
Cc: Mr. James B. Wall, County Attorney
Mr. George Kolb, Administrator
;\ ;~
ICMA RETIREMENT CORPORATION"
GOVERNMENTAL MONEY PURCHASE PLAN & TRUST
ADOPTION AGREEMENT
Account Number 10-
The Employer hereby establishes a Money Purchase Plan and Trust to be known as (the "Plan") in the
form of the ICMA. Retirement Corporation Governmental Money Purchase Plan and Trust. The Plan
shall be known as:
{906/
This Plan is an amendment and nistatement of an existing defined contribution money purchase plan,
o
Yes'
4.J
No
If yes, please specify the name of the defined contribution money purchase plan which this Plan
hereby amends and restates: .
1.
Employer Name:
---A-lJg lJ..SJ:...a..,~~_Q..iz.i a
[902J
II. The Effective Date of the Plan shall be the first day of the Plan Year during which the
Employer adopts the Plan, unless an alternate Effective Date is hereby specified:
m. Plan Year will mean:
~ The twelve (12) consecutive month period which coincides with the limita-
tion year. '(~e~_,Section 5.04(i) of the Plan,) [803/
o v The twelve (12) consecutive month period commencing on
and each anniversary thereafter. [803}
IV.
Normal Retirement Age (not to exceed age 65) shall be age
[288/
V ELIGIBILITY REQUIREMENTS:.
1. The following group(s) of Employees are eligible to participate in the Plan:
x
All Employees
All Full-Time Employees
'Salaried Employees
Non-union Employees.
Management Employees
Public Safety Employees
General Employees
Other (specify below):
Administrator
MPP Adoption Agreement ..1/30/2000
f
The group spe.cified l1,1ust correspond to a group of the same desigp.ation that is defined
in the statutes, ordinances, rules, regulations, personnel manuals or other material in
etTect in the state or locality of the Employer,
")
The Employer hereby waives or reduces the requirement of a twelve (12) month Period
of Service for participation, The required Period of Service shall be N / A
write N/ A if an Employee is eligible to participate upon employment). [344]
If this waivei' or reduction is elected, it shall apply to all Employees. within the Covered
Employment Classification,
3,
A minimum age:reguirement is hereby specified for eligibility to participate. The
minimum age j'eljuirelnentis ....4iI-/--A- (not to exceed age 21), Write N/ A if no mini-
mum age is declared,
f34'1}
VI. CONTRIBUTION PROVISIONS
I, The Eniployer shall contribute as follows (choose one):
[XI
. .
Fixed Employer Contributions With.Or Without Mandatory
Participant Contributions.
**
The Elilployer shall contribllte on behalf of each Participant _ % of
earnings or $ * * for the Plan Year (subject to the limitations
of Article V of the Plan). Each Participant is required to contribute
_ % of earnings or $ for the Plan Year as a condition
of participation in the Plan. (Write "0" if no contribution is required.)
If Participant Contributions are required under this option, a Participant
shall not have the right to discontinue or vary the rate of such contribu-
tions after becoming a Plan Participant.
Employer shall contribute the maximum amount allowed
b y Tfi~ EmlptJyer hereby elects to "pick up" the Mandatory/Required
Participant Contribution.
o
Yes
(J No
[62'/)
The pick-up provision specifies that the contribution is treated, for
federal income tax purposes, as though it is made by the employer. The
pick-up provision allows the employee to defer taxes on the employee
mandcltory contribution, The actual result is the same as if the contribu-
tion were a reduction in that employee's salary by the amount of the
contribution, Picked up contributions are NOT exempt from Social
Security t;1 '\'
[Note to Employer: A determination letter issued to an adopting Em-
ployer is not a ruling by the Internal Revenue Service that Participant
contributions that are picked up by the Employer are not includable in
the Participant's gross income for federal income tax purposes. The
Employer m.ay seek such a ruling,
:2
MPP Adoption Agreement 4/30/2000
... "y
[Picked up contributions are excludable fro'{j1 the Participant's gross
income under section 414(h) (2) of the Int'ernal Revenue Code of 1986
only if they me'et the requirements of Rev, Rul. 81-35,1981-1 C.B,255,
Those requirements are (1) that the Employer must specifY that the
contributions, although designated as employee contributions, are being
paid by the Employer in lieu of contributions by the employee; and (2)
the employee must not have the option of receiving the contributed
amounts directly instead of having them paid by the Employer to the
plan, ]
o Fixed Employer Match of Participant Contributions.
The Employer shall contribute on behalf of each Participant _%) of
Earnings for the Plan Year (subject to the limitations of Article V of the
Plan) for each Plan Year that such Participant has contributed %
of Earnings or $ , Under this option, there is a single, fixed rate
of Employer contributions, but a Participant may decline to make the
required Participant contributions in any Plan Year, in which case no
Employer contribution will be made on the Participant's behalf in that
Plan Year,
o Variable Employer Match Of Participant Contributions.
The Employer shall contribute on behalf of each Participant an amount
determined as follows (subject to the limitations of Article V of the
Plan) :
% of the contributions made by the Participant tor the Plan
Year (not including Participant contributions exceeding % of
Earnings or $ );
PLUS % of the contributions made by the Participant for the
Plan Year in excess of those included in the above paragraph (but not
including Participant contributions exceeding in the Jggregate %
of Earnings or $ ).
Employer Contributions on behalf of a Participant for a Plan Year shall
not exceed $ or % of Earnings, whichever is
more or less,
2. . Each Participant may make avolui1tai-y (unmatched), after-tax contribution, subject to
the limitations of Section 4,05' and Article V of the Plan,
[!J
Yes.
o No
MPP Adoption Agteement 4/3012000
.3
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Employer conn-,ibutions and Participant contributions shall be conn:ibuted .to the Trust
in accordance with the following payment schedule: (please circle one choice)
[611 J
* 0 Bi- Weeklv 1 Weekly 2 Semi- Weeklv
-'-- J
.3 Bi-Monthly 4 MontWy J Semi-MontWy
6 Bi-Quarterly 7 Quarterly 8 Semi -Quarterly
9 Bi-Annually 10 Annually 11 Semi-Annually
VII. EARNINGS
Earnings, as defined under Section 2,09 of the Plan, shall include:
(a)
Overtime
o
Yes
'0 No
(b)
Bonuses
o
Yes
rn No
VIII. LIMITATION ONALLOCATI0NS
If the Employer maintains or ever maintained another qi..1alified plan in which any Participant in
this Plan is (or was) a participant or could possibly become a participant, the Employer hereby
agrees to limit contributions to all such plans as provided herein, if necessary in order to avoid
excess contributions (as described'in Sections 5.02 and 5.03 of the Plan).
1, If the Participant is covered under another qualified defined contribution plan main-
tained by the Employer, the provisions of Section 5.02(a) through (f) of the Plan will
apply unless another method has been indicated below.
o Other Method. (Provide the method under which the plans will limit
total Annual Additions to the Maximum Permissible Amount, and will
properly reduce any excess amounts, in a manner that precludes Em-
ployerdiscretion, )
2.
If the Participant is or has ever been a participant in a defined benefit plan maintained
by the Employer, and if the limitation in Section 5,03 of the Plan would be exceeded,
then the Participant's Projected Annual Benefit under the defined benefit plan shall be
reduced in accordance with the tenus thereof to the extent necessary to satisfy such
limitation. If such plan does not provide for such reduction, orif the limitation is still
exceeded after the reduction, annual additions shall be reduced to the extent necessary
in the manner described in Sections 5,02 and 5,02. The methods of avoiding the limita-
tion described in this paragraph will not apply if the Employer indicates another method
below.
4
MPP .Adoption i\grt"t"I1lt"1ll 4/30/2000
\;
."
i
,0 Other Method. (Note to Employer;' Provide below language which
will satisfy the 1.0 limitation of section 415(e) of the Code.' Such
language must preclude Employer discretion. See section 1.415-1 of
the Regulatio?s for guidance,)
~ '/. ~...
3, The limitation year is the following 12-consecutive month 'period:
IX. VESTING PROVISIONS
The Employer hereby specifies the following vesting schedule, subject to (1) the minimum
vesting requirements as noted and (2) the concurrence of the Plan Administrator,
X, Loans are permitted under the Plan, as provided in Article XIII:
o
Yes
~
No
{7 51 /
XI.
The Employer hereby attests that it is a. unit of state or local government or an agency or
instrumentality of one or more units of state or local government.
XII.
The Plan Administrator hereby agrees to inform the Employer of any amendments to the
Plan made pursuant to Section 14,05 Of the Plan or of the discontinuance or abandonment
of the Plan.
XIII,
The Employer hereby appoints the ICMA Retirement Corporation as the Plan Administra-
tor pursuant to the terms and conditions of the lCMA RETIREMENT CORPORA-
TION GOVERNMENTAL MONEY PURCHASE PLAN & TRUST.
The Employer hereby agrees to the provisions of the Plan and Trust.
MPP Adoption Agreement 4/30/2000
5
;
's.
XIV The Employer herebyacknQ\,v.ledges it understands ,that failure to properly.fill oUHhis Adoption
Agreement may result in disqualification of the Plan,
XV An adopting Employer may not rely on a determination letter issued by the National or District Office
of the Internal Revenue Service as evidence that the Plan is qualified under Section 401 of the Inter-
nal R.evenue Code. In order to obtain reliance with respect to .plan qualification, the Employer must
apply to the appropriate key district oftlce for a determination letter,
In Witness Whereof, the Employer hereby causes this Agreement to be executed on this _ day of
December , 200~,
EMPLOYfR) . ()
By , ~~~{;
Tide ~ ~
Attest ~~.. (/
Bob Young
Mayor
Lena Bonner, Clerk of Commission
ACCEPTED: ICMA RETIREMENT CORPORATION
f7 ;1.-::, /J /J f.. I.
) :v.. e l' c <'5 ,(~ 7J fAJl..
Title: Corporate Secretary
,,:'L~ e~~
Attest:
6
MPP (\doption Agreement 4/30/2000
.(' ";
TO:
FROM:
SUBJECT:
DATE:
LAWDEPARTMENT~
Ms, Vanessa Flournoy
Staff Attorney
525 Telfair Street -Augusta, GA 30901
(706) 312-5520 FAX (706) 821-1806
MEMORANDUM
Ms. Lena Bonner, Clerk of Commission
Vanessa Flournoy, Staff Attorney
ICMA Retirement Corporation Adoption Agreement
December 7,2001
Enclosed are two ICMA Retirement Corporation Governmental Money Purchase Plan &
Trust Adoption Agreements. Please execute both copies and return the original to me.
Thank you.
VFlbhg