HomeMy WebLinkAboutORD 7296 GMEBS DEFINED BENEFIT PLAN ADOPTION AGREEMENT (GMEBS PLAN 1) GENERAL ADDENDUM , ADOPTION AGREEMENT ETC� � 1
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Augusta GMEBS Plan I
Amended and Restated November 1, 2011
FILE # 21975
Ord # 7296
GEORGIA MUNICIPAL EMPLOYEES
BENEFIT SYSTEM
DEFINED BENEFIT RETIREMENT PLAN
ADOPTION AGREEMENT
for
AUGUSTA, GEORGIA
f
• I. AN ORDINANCE_7296
An Ordinance to restate the Retirement Plan for Certain Employees of Augusta, Georgia
(hereinafter "Augusta GMEBS Plan I "), in accordance with and subject to the terms and
conditions set forth in the attached Adoption Agreement, any Addendum to the Adoption
Agreement, the Georgia Municipal Employees Benefit System (GMEBS) Master Plan
Document, and the GMEBS Trust Agreement. When accepted by the authorized officers of the
Augusta, Georgia Commission Council and GMEBS, the foregoing shall constitute a Contract
between Augusta and GMEBS, all as authorized and provided by O.C.G.A. § 47 -5 -1 et seq.
BE IT ORDAINED by the Augusta, Georgia Commission Council, and it is hereby
ordained by the authority thereof:
Section 1. The March 1, 1987 GMEBS Defined Benefit Retirement Plan for Certain
Employees of Augusta, Georgia (Ordinance No. 5399; as amended by Ga. L 1988, p. 5415;
Ordinance No. 5561, effective April 2, 1990; and Ordinance No. 5865) and the January 1, 1977
Defined Benefit Retirement Plan and Trust for certain Employees of Augusta (Ordinance No.
6655; as amended by Ordinance No. 6983 adopted June 19, 2007) (hereinafter referred to as
"1977 Defined Benefit Retirement Plan" or "1977 DB Plan" or "1977 Plan ") were previously
amended and restated as set forth in and subject to the terms and conditions stated in the
GMEBS Adoption Agreement and the Addendum to the Adoption Agreement which became
effective January 1, 2008 (Ordinance No. 7017). The January 1, 2008 GMEBS Adoption
Agreement and Addendum to the Adoption Agreement were amended and restated in the
• GMEBS Adoption Agreement and the Addendum to the Adoption Agreement which became
effective June 16, 2009 (Ordinance No. 7136). Ordinance No. 7136 was amended by Ordinance
No. 7251 concerning implementation of the March 30, 2011 Augusta Reorganization Plan and
the 2011 RIF Policy. The Retirement Plan for Certain Employees of Augusta, Georgia,
including all amendments referred to above, is hereby amended and restated again, as set forth in
and subject to the terms and conditions stated in the following Adoption Agreement, any
Addendum to the Adoption Agreement, and the applicable terms of the Georgia Municipal
Employees Benefit System (GMEBS) Master Plan Document and the GMEBS Trust Agreement.
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
[Ordinance continued on page 34]
I. AN ORDINANCE 1
II. GMEBS DEFINED BENEFIT RETIREMENT PLAN ADOPTION AGREEMENT 2
1. ADMINISTRATOR 2
2. ADOPTING EMPLOYER 2
3. GOVERNING AUTHORITY 2
4. PLAN REPRESENTATIVE 2
5. PENSION COMMITTEE 3
6. TYPE OF ADOPTION 3
7. EFFECTIVE DATE 4
8. PLAN YEAR 5
9. CLASSES OF ELIGIBLE EMPLOYEES 5
A. Eligible Regular Employees 5
B. Elected or Appointed Members of the Governing Authority 6
10. ELIGIBILITY CONDITIONS 7
A. Hours Per Week (Regular Employees) 7
B. Months Per Year (Regular Employees) 8
11. WAITING PERIOD 8
12. ESTABLISHING PARTICIPATION IN THE PLAN 8
13. CREDITED SERVICE 9
A. Credited Past Service with Adopting Employer 9
B. Prior Military Service 10
C. Prior Governmental Service 12
D. Leave Conversion for Unused Paid Time Off (e.g., Sick,
Vacation, or Personal Leave) 13
14. RETIREMENT ELIGIBILITY 15
A. Early Retirement Qualifications 15
B. Normal Retirement Qualifications 15
C. Alternative Normal Retirement Qualifications 16
D. Disability Benefit Qualifications 18
15. RETIREMENT BENEFIT COMPUTATION 18
A. Maximum Total Credited Service 18
B. Monthly Normal Retirement Benefit Amount 19
C. Monthly Early Retirement Benefit Amount 22
D. Monthly Late Retirement Benefit Amount (check one): 23
E. Monthly Disability Benefit Amount 23
F. Minimum/Maximum Benefit For Elected Officials 24
16. IN- SERVICE DISTRIBUTIONS; COLA 24
A. Distributions For Those Who Remain In Service After
Normal Retirement 24
B. Cost Of Living Adjustment 25
C. Re- Employment After Retirement 26
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
TABLE OF CONTENTS
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PAGE
FILE # 21975
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
Ord It 7296
GEORGIA MUNICIPAL EMPLOYEES
BENEFIT SYSTEM
DEFINED BENEFIT RETIREMENT PLAN
ADOPTION AGREEMENT
for
AUGUSTA, GEORGIA
I. AN ORDINANCE_7296
An Ordinance to restate the Retirement Plan for Certain Employees of Augusta, Georgia
(hereinafter "Augusta GMEBS Plan I "), in accordance with and subject to the terms and
conditions set forth in the attached Adoption Agreement, any Addendum to the Adoption
Agreement, the Georgia Municipal Employees Benefit System (GMEBS) Master Plan
Document, and the GMEBS Trust Agreement. When accepted by the authorized officers of the
Augusta, Georgia Commission Council and GMEBS, the foregoing shall constitute a Contract
between Augusta and GMEBS, all as authorized and provided by O.C.G.A. § 47 -5 -1 et seq.
BE IT ORDAINED by the Augusta, Georgia Commission Council, and it is hereby
ordained by the authority thereof:
Section 1. The March 1, 1987 GMEBS Defined Benefit Retirement Plan for Certain
Employees of Augusta, Georgia (Ordinance No. 5399; as amended by Ga. L 1988, p. 5415;
Ordinance No. 5561, effective April 2, 1990; and Ordinance No. 5865) and the January 1, 1977
Defined Benefit Retirement Plan and Trust for certain Employees of Augusta (Ordinance No.
6655; as amended by Ordinance No. 6983 adopted June 19, 2007) (hereinafter referred to as
"1977 Defined Benefit Retirement Plan" or "1977 DB Plan" or "1977 Plan ") were previously
amended and restated as set forth in and subject to the terms and conditions stated in the
GMEBS Adoption Agreement and the Addendum to the Adoption Agreement which became
effective January 1, 2008 (Ordinance No. 7017). The January 1, 2008 GMEBS Adoption
Agreement and Addendum to the Adoption Agreement were amended and restated in the
GMEBS Adoption Agreement and the Addendum to the Adoption Agreement which became
effective June 16, 2009 (Ordinance No. 7136). Ordinance No. 7136 was amended by Ordinance
No. 7251 concerning implementation of the March 30, 2011 Augusta Reorganization Plan and
the 2011 RIF Policy. The Retirement Plan for Certain Employees of Augusta, Georgia,
including all amendments referred to above, is hereby amended and restated again, as set forth in
and subject to the terms and conditions stated in the following Adoption Agreement, any
Addendum to the Adoption Agreement, and the applicable terms of the Georgia Municipal
Employees Benefit System (GMEBS) Master Plan Document and the GMEBS Trust Agreement.
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
[Ordinance continued on page 34]
TABLE OF CONTENTS
PAGE
I. AN ORDINANCE 1
II. GMEBS DEFINED BENEFIT RETIREMENT PLAN ADOPTION AGREEMENT 2
1. ADMINISTRATOR 2
2. ADOPTING EMPLOYER 2
3. GOVERNING AUTHORITY 2
4. PLAN REPRESENTATIVE 2
5. PENSION COMMITTEE 3
6. TYPE OF ADOPTION 3
7. EFFECTIVE DATE 4
8. PLAN YEAR 5
9. CLASSES OF ELIGIBLE EMPLOYEES 5
A. Eligible Regular Employees 5
B. Elected or Appointed Members of the Governing Authority 6
10. ELIGIBILITY CONDITIONS 7
A. Hours Per Week (Regular Employees) 7
B. Months Per Year (Regular Employees) 8
11. WAITING PERIOD 8
12. ESTABLISHING PARTICIPATION IN THE PLAN 8
13. CREDITED SERVICE 9
A. Credited Past Service with Adopting Employer 9
B. Prior Military Service 10
C. Prior Governmental Service 12
D. Leave Conversion for Unused Paid Time Off (e.g., Sick,
Vacation, or Personal Leave) 13
14. RETIREMENT ELIGIBILITY 15
A. Early Retirement Qualifications 15
B. Normal Retirement Qualifications 15
C. Alternative Normal Retirement Qualifications 16
D. Disability Benefit Qualifications 18
15. RETIREMENT BENEFIT COMPUTATION 18
A. Maximum Total Credited Service 18
B. Monthly Normal Retirement Benefit Amount 19
C. Monthly Early Retirement Benefit Amount 22
D. Monthly Late Retirement Benefit Amount (check one): 23
E. Monthly Disability Benefit Amount 23
F. Minimum/Maximum Benefit For Elected Officials 24
16. IN- SERVICE DISTRIBUTIONS; COLA 24
A. Distributions For Those Who Remain In Service After
Normal Retirement 24
B. Cost Of Living Adjustment 25
C. Re- Employment After Retirement 26
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
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17. TERMINATION OF EMPLOYMENT BEFORE RETIREMENT;
VESTING 27
A. Eligible Regular Employees 27
B. Elected or Appointed Members of the Governing Authority 28
18. PRE-RETIREMENT DEATH BENEFITS 29
A. In-Service Death Benefit 29
B. Terminated Vested Death Benefit 30
19. EMPLOYEE CONTRIBUTIONS 31
20. MODIFICATION OF THE TERMS OF THE ADOPTION
AGREEMENT 32
21. TERMINATION OF THE ADOPTION AGREEMENT 32
22. EMPLOYER ADOPTION AND AUTHORIZATION FOR
AMENDMENTS 33
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
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II. GMEBS DEFINED BENEFIT RETIREMENT PLAN
ADOPTION AGREEMENT
Name: Augusta, Georgia
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
1. ADMINISTRATOR
Georgia Municipal Employees Benefit System
201 Pryor Street, SW
Atlanta, Georgia 30303
Telephone: 404 - 688 -0472
Facsimile: 404 -577 -6663
2. ADOPTING EMPLOYER
3. GOVERNING AUTHORITY
Name: Augusta, Georgia Commission Council
Address: 530 Greene Street, Augusta, GA 30911 -4406
Phone: (706)- 821 -1820
Facsimile: (706) 821 -1838
4. PLAN REPRESENTATIVE
[To represent Governing Authority in all communications with GMEBS and Employees]
(See Section 2.46 of Master Plan)
Name: Augusta, Georgia Administrator
Address: 530 Greene Street, Augusta, GA 30911 -4406
Phone: (706)- 821 -2400
Facsimile: (706) 821 -2819
E -mail:
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5. PENSION COMMITTEE
[Please designate members by position. If not, members of Pension Committee shall be
determined in accordance with Article XIV of Master Plan]
The "Pension Committee" when referred to in this Plan shall be the members of the
Pension and Audit Committee of the Augusta, Georgia Commission Council as currently
constituted to include the following office- holders: Mayor, Mayor Pro Tem, Administrator,
Finance Director, and the Finance Committee Chair.
Pension Committee Secretary: Clerk of the Augusta, Georgia Commission Council
Address: 530 Greene Street, Augusta, GA 30911 -4406
Phone: (706) 821 -1820
Facsimile: (706) 821 -1838
E -mail:
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6. TYPE OF ADOPTION
This Adoption Agreement is for the following purpose (check one):
❑ This is a new defined benefit plan adopted by the Adopting Employer for its Employees.
This plan does not replace or restate an existing defined benefit plan.
This is an amendment and restatement of the Adoption Agreement previously adopted by
the Employer, as follows (check one or more as applicable):
• To update the Plan to comply with EGTRRA and other applicable federal laws.
• To make the following amendments to the Adoption Agreement (must specify
below revisions made in this Adoption Agreement):
This is an amendment to provide that: 1) effective April 1, 2011, an Eligible
Regular Employee whose effective Retirement date is the first day of the
month coinciding with or following his or her Termination date shall be
eligible to receive additional Credited Service for half of his or her unused
sick leave, solely for purposes of benefit computation, up to a maximum of
six (6) months of additional Credited Service, under certain conditions (see
AA pp. 14 -15); 2) effective April 1, 2011, if certain Senior Executive Service
(SES) Participants terminate and execute a separation agreement in a form
and manner that is acceptable to Augusta, then Service and Earnings related
to such Participants' severance pay, if any, shall be counted for purposes of
benefit eligibility and benefit computation under certain conditions (See
General Addendum Section 14(nn)); 3) Employees who were employed by
the Augusta- Richmond County Planning Commission ( "ARCPC ") on
October 31, 2011, who did not participate in the ARCPC's GMEBS Defined
Benefit Plan as of such date, and who became Employees of Augusta,
Georgia on November 1, 2011 ( "Transferred ARCPC Non -GMEBS Plan
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
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(1)
Employees ") will participate in this Plan effective November 1, 2011 under
certain conditions (see General Addendum Sections 1, 3, and 14(00)); 4) with
respect to Transferred ARCPC Non -GMEBS Plan Employees, service with
the ARCPC prior to August 31, 2006, if any, will be credited under this Plan
for all purposes (i.e., vesting, benefit eligibility and benefit computation)
under certain conditions, provided that the Employee transfers an amount
equal to the value of his /her ARCPC GMEBS DB Plan normal retirement
benefit accrued up until Augusta 31, 2006 (which was previously transferred
from the ARCPC's GMEBS DB Plan to the ARCPC's DC Plan), from the
ARCPC's DC Plan to this Plan (see General Addendum subsection 14(00));
5) a Participant in this Plan who was an employee of the ARCPC on or
before October 31, 2011, who becomes an employee of Augusta, Georgia on
or after November 1, 2011 and who has any period of prior service with the
ARCPC which is not otherwise creditable under this Plan or any other
Augusta, Georgia retirement plan may purchase credit under this Plan for
such service under certain conditions (see Service Credit Purchase
Addendum subsection 1(b)); 6) effective April 1, 2011, the list of senior
executive service (SES) employees to whom the immediate vesting provision
in Section 14(11) applies shall be determined by reference to the list of SES
positions included in the Augusta, Georgia Personnel Policy and Procedures
Manual (See AA. p. 28 and General Addendum subsection 14(11); and 7)
Employees of the Tax Commissioner's office who do not participate in any
other Augusta retirement plan that is wholly or partially funded by
Employer contributions will be required to participate in this Plan under
certain conditions (See General Addendum subsection 14(hh)).
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
7. EFFECTIVE DATE
Complete this item (1) only if this is a new defined benefit plan which does not replace
or restate an existing defined benefit plan.
The effective date of this Plan is
(insert effective date of this Adoption Agreement not earlier than January 1, 2007).
This Adoption Agreement and any Addendum, with the accompanying Master Plan Document,
is designed to comply with Internal Revenue Code Section 401(a), as applicable to a
governmental qualified defined benefit plan, and is part of the GMEBS Defined Benefit
Retirement Plan. Plan provisions designed to comply with certain provisions of the Economic
Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) are effective for Plan Years
beginning on and after January 1, 2002. Plan provisions designed to comply with certain
provisions of additional changes in federal law and guidance from the Internal Revenue Service
under Internal Revenue Service Notice 2009 -98 (the 2009 Cumulative List) are effective as of
the applicable effective dates set forth in the Adoption Agreement and Master Plan Document.
By adopting this Adoption Agreement, with its accompanying Master Plan Document, the
Adopting Employer is adopting a plan document intended to comply with Internal Revenue Code
Section 401(a), as updated by EGTRRA and the 2009 Cumulative List with the applicable
effective dates.
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• (2) Complete this item (2) only if this Plan is being adopted to replace a non -GMEBS
defined benefit plan.
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(3)
Except as otherwise specifically provided in the Master Document or in this Adoption
Agreement, the effective date of this restatement shall be (insert effective date of this
Adoption Agreement not earlier than January 1, 2007). This Plan is intended to replace
and serve as an amendment and restatement of the Employer's preexisting plan, which
became effective on _ (insert original effective date of preexisting plan).
Complete this item (3) only if this is an amendment and complete restatement of the
Adopting Employer's existing GMEBS defined benefit plan.
Except as otherwise specifically provided in the Master Document or in this Adoption
Agreement, the effective date of this restatement shall be November 1, 2011 (insert
effective date of this Adoption Agreement not earlier than January 1, 2007).
This Plan is adopted as an amendment and restatement of the Employer's preexisting
GMEBS Adoption Agreement, which became effective on June 16, 2009 (insert effective
date of most recent Adoption Agreement preceding this Adoption Agreement).
The Employer's first Adoption Agreement became effective August 1, 2003 (insert
effective date of Employer's first GMEBS Adoption Agreement). The Employer's
GMEBS Plan was originally effective March 1, 1987 (insert effective date of Employer's
original GMEBS Plan). (If the Employer's Plan was originally a non -GMEBS Plan, then
the Employer's non -GMEBS Plan was originally effective (if applicable, insert
effective date of Employer's original non - GMEBS Plan).)
Plan Year means (check one):
O Calendar Year
❑ Employer Fiscal Year commencing
❑ Other (must specify month and day commencing):
A. Eligible Regular Employees
8. PLAN YEAR
9. CLASSES OF ELIGIBLE EMPLOYEES
Only Employees of the Adopting Employer who meet the Master Plan's definition of
"Employee" may be covered under the Adoption Agreement. Eligible Employees shall not
include non - governmental employees, independent contractors, leased employees, nonresident
aliens, or any other ineligible individuals, and this Section 9 must not be completed in a manner
that violates the "exclusive benefit rule" of Internal Revenue Code Section 401(a)(2).
Regular Employees include Employees, other than elected or appointed members of the
Governing Authority or Municipal Legal Officers, who are regularly employed in the services of
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
-5—
• the Adopting Employer. Subject to the other conditions of the Master Plan and the Adoption
Agreement, the following Regular Employees are eligible to participate in the Plan (check one):
•
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❑ ALL - All Regular Employees, provided they satisfy the minimum hour and other
requirements specified under "Eligibility Conditions" below.
ALL REGULAR EMPLOYEES EXCEPT for the following employees (must specify):
Any Employee who is not included in a Participant Class as defined in subsection
14(a) of the General Addendum; any Employee who participates in any other City of
Augusta or Richmond County retirement plan; any person who is not a "Regular
Employee" as defined in the Augusta, Georgia Personnel Policy and Procedures; and
any Employee classified as a temporary or seasonal employee. See also subsection
14(hh) of the General Addendum regarding treatment of employees of the Augusta -
Richmond County Tax Commissioner's office.
B. Elected or Appointed Members of the Governing Authority
An Adopting Employer may elect to permit participation in the Plan by elected or appointed
members of the Governing Authority and /or Municipal Legal Officers, provided they otherwise
meet the Master Plan's definition of "Employee" and provided they satisfy any other
requirements specified by the Adopting Employer. Municipal Legal Officers to be covered must
be specifically identified by position. Subject to the above conditions, the Employer hereby
elects the following treatment for elected and appointed officials:
(1) Elected or Appointed Members of the Governing Authority (check one):
❑ ARE NOT eligible to participate in the Plan.
® ARE eligible to participate in the Plan.
Please specify any limitations on eligibility to participate here (e.g., service on or after certain
date, or special waiting period provision):
With respect to elected or appointed members of the Governing Authority who held office
as of October 1, 2007, they will participate in this Plan only if they elected (affirmatively or
by default) to participate in this Plan in accordance with and subject to the election
provisions of Sections 7.11 -7.15 of the Addendum to the Adoption Agreement that became
effective January 1, 2008 (Ordinance No. 7017). Elected or appointed members of the
Governing Authority who initially take office after October 1, 2007 will participate in this
Plan, provided they affirmatively elect (or elect by default) to participate in this Plan, in
accordance with and subject to the 30 -day time limit and other election requirements
specified in subsections 14(b) and 14(gg) of the General Addendum to this Adoption
Agreement; see General Addendum subsection 14 (gg) concerning the effect of later
termination and return to Service). If a former elected or appointed member of the
Governing Authority who was not in office as of October 1, 2007 returns to Service as an
elected or appointed member of the Governing Authority after said date, he will participate
in this Plan, provided he affirmatively elects (or elects by default) to participate in this
Plan, in accordance with and subject to the 30 -day time limit and other election
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
-6—
• requirements specified in subsections 14(b) and 14(gg) of the General Addendum to this
Adoption Agreement.
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(2) Municipal Legal Officers (check one):
® ARE NOT eligible to participate in the Plan.
❑ ARE eligible to participate in the Plan. The term "Municipal Legal Officer" shall include
only the following positions (must specify):
Please specify any limitations on eligibility to participate here (e.g., service on or after certain
date): See General Addendum subsections 14(b) and 14(gg) concerning participation by
Augusta Law Department General Counsel and Law Department staff attorneys who meet
applicable eligibility requirements and election requirements.
A. Hours Per Week (Regular Employees)
The Adopting Employer may specify a minimum number of hours per week which are
required to be scheduled and worked by Regular Employees in order for them to become and
remain "Eligible Regular Employees" under the Plan. It is the responsibility of the Adopting
Employer to determine whether these requirements are and continue to be satisfied. The
Employer hereby elects the following minimum hour requirement for Regular Employees:
DI
10. ELIGIBILITY CONDITIONS
No minimum
20 hours /week (regularly scheduled)
30 hours /week (regularly scheduled)
Other: (must not exceed 40 hours /week regularly scheduled)
Exceptions: If a different minimum hour requirement applies to a particular class or classes of
Regular Employees, please specify below the classes to whom the different requirement applies
and indicate the minimum hour requirement applicable to them.
Class(es) of Regular Employees to whom exception applies (must specify):
Minimum hour requirement applicable to excepted Regular Employees:
❑ No minimum
❑ 20 hours /week (regularly scheduled)
❑ 30 hours /week (regularly scheduled)
❑ Other: (must not exceed 40 hours /week regularly scheduled)
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
-7—
• B. Months Per Year (Regular Employees)
•
The Adopting Employer may specify a minimum number of months per year which are
required to be scheduled and worked by Regular Employees in order for them to become and
remain "Eligible Employees" under the Plan. It is the responsibility of the Adopting
Employer to determine whether these requirements are and continue to be satisfied. The
Employer hereby elects the following minimum requirement for Regular Employees:
❑ No minimum
• At least 5 months per year (regularly scheduled)
❑ Other:
11. WAITING PERIOD
Unless otherwise specified by the Adopting Employer in an addendum to this Adoption
Agreement, Regular Employees shall be required to complete one (1) year of continuous,
uninterrupted Service with the Adopting Employer before they qualify for participation in the
Plan. The determination as to whether the waiting period has been satisfied shall be made in
accordance with provisions of the Master Plan. (See Section 3 of the General Addendum.)
12. ESTABLISHING PARTICIPATION IN THE PLAN
Participation in the Plan is considered mandatory for all Eligible Employees who satisfy the
eligibility conditions specified in the Adoption Agreement. However, the Employer may specify
below that participation is optional for certain classes of Eligible Employees, including elected or
appointed members of the Governing Authority, Municipal Legal Officers, City Managers,
and /or Department Heads. If participation is optional for an Eligible Employee, then in order to
become a Participant, he must make a written election to participate within 120 days after
employment, election or appointment to office, or if later, the date he first becomes eligible to
participate in the Plan. The election is irrevocable, and the failure to make the election within
the 120 day time limit shall be deemed an irrevocable election not to participate in the Plan.
(Participation is optional for certain classes; 30 -day (not 120 -day) election period applies;
See subsections 14(b) and 14 (gg) of the General Addendum.)
Classes for whom participation is optional (leave blank and skip to Section 13 unless
participation is optional for one or more of the following classes):
❑ Elected or appointed members of the Governing Authority
❑ Municipal Legal Officers
❑ City Manager
❑ Department Heads
• Other (must specify; all individuals specified must be Eligible Employees):
(See subsections 14(b) and 14(gg) of the General Addendum regarding classes
for whom participation is optional, 30 -day election period, and other election
requirements.)
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
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110 13. CREDITED SERVICE
•
In addition to Current Credited Service the Adopting Employer may include as Credited
Service the following types of service:
A. Credited Past Service with Adopting Employer
Credited Past Service means the number of years and complete months of Service with the
Adopting Employer prior to the date an Eligible Employee becomes a Participant which are
treated as credited service under the Plan.
(1) Eligible Employees Employed on Original Effective Date of GMEBS Plan.
With respect to Eligible Employees who are employed by the Adopting Employer on the original
Effective Date of the Employer's GMEBS Plan, Service with the Adopting Employer prior to the
date the Eligible Employee becomes a Participant (including any Service prior to the Effective
Date of the Plan) shall be treated as follows (check one):
(See subsection 14(x) of the General Addendum concerning treatment of Service
prior to original effective date of GMEBS Plan (March 1, 1987) for those who are
Participants in GMEBS Plan immediately prior to January 1, 2008; see the General
Addendum concerning treatment of Service prior to January 1, 2008 for other
Participants.)
❑ All Service prior to the date the Eligible Employee becomes a Participant shall be
credited (as Credited Past Service).
❑ All Service prior to the date the Eligible Employee becomes a Participant shall be
credited (as Credited Past Service), except for Service rendered prior to
(insert date).
❑ All Service prior to the date the Eligible Employee becomes a Participant shall be
credited (as Credited Past Service), except as follows (must specify other
limitation):
❑ No Service prior to the date the Eligible Employee becomes a Participant shall be
credited (as Credited Past Service).
(2) Previously Employed, Returning to Service after Original Effective Date. If
an Eligible Employee is not employed on the original Effective Date of the Employer's GMEBS
Plan, but he returns to Service with the Adopting Employer sometime after the Effective Date,
his Service prior to the date he becomes a Participant (including any Service prior the Effective
Date) shall be treated as follows (check one):
(See subsection 14(x) of the General Addendum concerning treatment of Service
prior to original effective date of GMEBS Plan (March 1, 1987) for those who are
Participants in GMEBS Plan immediately prior to January 1, 2008; see the General
Addendum concerning treatment of Service prior to January 1, 2008 for other
Participants.)
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
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•
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❑ All Service prior to the date the Eligible Employee becomes a Participant shall be
credited (as Credited Past Service), subject to any limitations imposed above with
respect to Eligible Employees employed on the Effective Date.
❑ All Service prior to the date the Eligible Employee becomes a Participant shall be
credited (as Credited Past Service), provided that after his return to employment,
the Eligible Employee performs Service equal to the period of the break in
Service or one (1) year, whichever is less. Any limitations imposed above with
respect to Eligible Employees employed on the Effective Date shall also apply.
❑ No Service prior to the date the Eligible Employee becomes a Participant shall be
credited (as Credited Past Service).
Other limitation(s) on Recognition of Credited Past Service (must specify):
(3) Eligible Employees Initially Employed After Effective Date. If an Eligible
Employee's initial employment date is after the original Effective Date of the Employer's
GMEBS Plan, his Credited Past Service shall include only the number of years and complete
months of Service from his initial employment date to the date he becomes a Participant in the
Plan.
(4) Newly Eligible Classes of Employees. If a previously ineligible class of
Employees becomes eligible to participate in the Plan, the Employer must specify in an
addendum to this Adoption Agreement whether and to what extent said Employees' prior service
with the Employer shall be treated as Credited Past Service under the Plan.
B. Prior Military Service
Note: This Section does not concern military service required to be credited under
USERRA — See Section 3.02 of the Master Plan for rules on the crediting of USERRA
Military Service.
(1) Credit for Prior Military Service.
The Adopting Employer may elect to treat military service rendered prior to a Participant's initial
employment date or reemployment date as Credited Service under the Plan. Unless otherwise
specified by the Employer under "Other Conditions" below, the term "Military Service" shall be
as defined in the Master Plan. Except as otherwise required by federal or state law or under
"Other Conditions" below, Military Service shall not include service which is credited under any
other local, state, or federal retirement or pension plan.
Military Service credited under this Section shall not include any service which is otherwise
required to be credited under the Plan by federal or state law. Prior Military Service shall be
treated as follows (check one):
• Prior Military Service is not creditable under the Plan (if checked, skip to
Section 13.C. — Prior Governmental Service).
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
- 10 —
❑ Prior Military Service shall be counted as Credited Service for the following
purposes (check one or more as applicable):
•
•
❑ Computing amount of benefits payable.
❑ Meeting minimum service requirements for vesting.
❑ Meeting minimum service requirements for benefit eligibility.
(2) Maximum Credit for Prior Military Service.
Credit for Prior Military Service shall be limited to a maximum of years (insert number).
(3) Rate of Accrual for Prior Military Service.
Credit for Prior Military Service shall accrue at the following rate (check one):
❑ One month of military service credit for every month(s) (insert
number) of Credited Service with the Adopting Employer.
❑ One year of military service credit for every year(s) (insert number) of
Credited Service with the Adopting Employer.
❑ l All military service shall be creditable (subject to any caps imposed above) after
the Participant has completed years (insert number) of Credited Service
with the Employer.
❑ Other requirement (must specify):
(4) Payment for Prior Military Service Credit(check one):
❑ Participants shall not be required to pay for military service credit.
❑ Participants shall be required to pay for military service credit as follows:
❑ The Participant must pay % of the actuarial cost of the service credit
(as defined below).
❑ The Participant must pay an amount equal to (must specify):
Other Conditions for Award of Prior Military Service Credit (must specify):
(5) Limitations on Service Credit Purchases. Unless otherwise specified in an
Addendum to the Adoption Agreement, for purposes of this Section and Section 13.C.
concerning prior governmental service credit, the term "actuarial cost of service credit" means
the actuarial accrued liability relating to such prior service credit as determined by the GMEBS
actuary and calculated using the actuarial assumptions and methods employed in performing
GMEBS member plan valuations. In the case of a service credit purchase, the Participant shall
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
-11
be required to comply with any rules and regulations established by the GMEBS Board of
Trustees concerning said purchases.
C. Prior Governmental Service
Note: Prior service with other GMEBS employers shall be credited as provided under the
Master Plan.
(1) Credit for Prior Governmental Service.
The Adopting Employer may elect to treat governmental service rendered prior to a Participant's
initial employment date or reemployment date as creditable service under the Plan. Subject to
any limitations imposed by law, the term "prior governmental service" shall be as defined by the
Adopting Employer below. The Employer elects to treat prior governmental service as follows
(check one):
• Prior governmental service is not creditable under the Plan (if checked, skip to
Section 13.D. — Unused Sick/Vacation Leave).
❑ Prior governmental service shall be counted as Credited Service for the following
purposes under the Plan (check one or more as applicable):
❑ Computing amount of benefits payable.
❑ Meeting minimum service requirements for vesting.
❑ Meeting minimum service requirements for benefit eligibility.
(2) Definition of Prior Governmental Service.
Prior governmental service shall be defined as follows: (must specify):
Unless otherwise specified above, prior governmental service shall include only full -time service
(minimum hour requirement same as that applicable to Eligible Regular Employees).
(3)
Maximum Credit for Prior Governmental Service.
Credit for prior governmental service shall be limited to a maximum of years (insert
number).
(4) Rate of Accrual for Prior Governmental Service Credit.
Credit for prior governmental service shall accrue at the following rate (check one):
❑ One month of prior governmental service credit for every month(s) (insert
number) of Credited Service with the Adopting Employer.
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
- 12—
•
•
❑ One year of prior governmental service credit for every year(s) (insert
number) of Credited Service with the Adopting Employer.
❑ All prior governmental service shall be creditable (subject to any caps imposed
above) after the Participant has completed years (insert number) of
Credited Service with the Adopting Employer.
❑ Other requirement (must specify):
(5) Payment for Prior Governmental Service Credit.
❑ Participants shall not be required to pay for governmental service credit.
❑ Participants shall be required to pay for governmental service credit as follows:
❑ The Participant must pay % of the actuarial cost of the service credit.
❑ The Participant must pay an amount equal to (must specify):
Other Conditions for Award of Prior Governmental Service Credit (must specify):
D. Leave Conversion for Unused Paid Time Off (e.g., Sick, Vacation, or Personal
Leave)
• (1) Credit for Unused Paid Time Off.
Subject to the limitations in Section 3.01 of the Master Plan, an Adopting Employer may elect to
treat accumulated days of unused paid time off for a terminated Participant as Credited Service.
The only type of leave permitted to be credited under this provision is leave from a paid time off
plan which qualifies as a bona fide sick and vacation leave plan (which may include sick,
vacation or personal leave) and which the Participant may take as paid leave without regard to
whether the leave is due to illness or incapacity. The Credited Service resulting from the
conversion of unused paid time off must not be the only Credited Service applied toward the
accrual of a normal retirement benefit under the Plan. The Pension Committee shall be
responsible to certify to GMEBS the total amount of unused paid time off that is creditable
hereunder.
Important Note: Leave cannot be converted to Credited Service in lieu of receiving a cash
payment. If the Employer elects treating unused paid time off as Credited Service, the
conversion to Credited Service will be automatic, and the Participant cannot request a cash
payment for the unused paid time off.
The Employer elects the following treatment of unused paid time off:
❑ Unused paid time off shall not be treated as Credited Service (if checked, skip to
Section 14 — Retirement Eligibility).
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
- 13 —
S ® The following types of unused paid time off shall be treated as Credited Service
under the Plan (check one or more as applicable):
•
•
® Unused sick leave
❑ Unused vacation leave
❑ Unused personal leave
❑ Other paid time off (must specify, subject to limitations in Section 3.01 of
Master Plan):
(2) Minimum Service Requirement.
In order to receive credit for unused paid time off, a Participant must meet the following
requirement at termination (check one):
❑ The Participant must be 100% vested in a normal retirement benefit.
❑ The Participant must have at least years (insert number) of Total
Credited Service (not including leave otherwise creditable under this Section).
Other (must specify, subject to limitations in Section 3.01 of Master Plan):
The Participant must be eligible for Early, Normal or Disability Retirement
benefits.
(3) Use of Unused Paid Time Off Credit. Unused paid time off shall count as
Credited Service for the following purposes under the Plan (check one or more as applicable):
0
Computing amount of benefits payable.
Meeting minimum service requirements for vesting.
Meeting minimum service requirements for benefit eligibility.
(4) Maximum Credit for Unused Paid Time Off.
Credit for unused paid time off shall be limited to a maximum of 6 months (insert number).
(5)
Computation of Unused Paid Time Off.
Unless otherwise specified by the Adopting Employer under "Other Conditions" below, each
twenty (20) days of creditable unused paid time off shall constitute one (1) complete month of
Credited Service under the Plan. Partial months shall not be credited.
(6) Other Conditions (please specify, subject to limitations in Section 3.01 of
Master Plan): In order to be eligible to receive credit for unused sick leave hereunder, a
Participant must Terminate employment with the Employer on or after April 1, 2011 and
Retire directly from active employment with the Employer such that his /her effective
Retirement date is the first day of the month coinciding with or following his /her
Termination date. The number of creditable unused sick leave days hereunder will be
limited to one -half of the Participant's actual unused sick days (as determined in
accordance with the applicable personnel policies and procedures of Augusta). Each
twenty (20) days of such creditable unused sick leave shall be counted as one (1) complete
month of Credited Service under the Plan. Any partial month remainder of less than 20
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
- 14—
•
•
•
days of creditable unused sick leave will be credited as one (1) complete month of Credited
Service only if such remainder is at least 10 days. In no event will a Participant receive
more than 6 months of Credited Service for unused sick leave credited hereunder.
14. RETIREMENT ELIGIBILITY
A. Early Retirement Qualifications
Early retirement qualifications are (check one or more as applicable):
■
Attainment of age 50 (insert number)
® Completion of 5 years (insert number) of Total Credited Service with Auusta,
Georgia
Exceptions: If different early retirement eligibility requirements apply to a particular class or
classes of Eligible Employees, the Employer must specify below the classes to whom the
different requirements apply and indicate below the requirements applicable to them.
(1) Eligible Employees to whom exception applies (must specify): Class 2 and
Class 4
Early retirement qualifications for excepted class(es) are (check one or more as applicable):
® Attainment of age 55 (insert number)
® Completion of 10 years (insert number) of Total Credited Service with Augusta,
Georgia
(2) Eligible Employees to whom exception applies (must specify): Class 6
Early retirement qualifications for excepted class(es) are (check one or more as applicable):
® Attainment of age 50 (insert number)
® Completion of 15 years (insert number) of Total Credited Service with Augusta,
Georgia
B. Normal Retirement Qualifications
Note: Please complete this Section and also list "Alternative" Normal Retirement
Qualifications, if any, in Section 14.C.
(1) Regular Employees
Normal retirement qualifications for Regular Employees are (check one or more as applicable):
® Attainment of age 65 (insert number)
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
- 15 —
• ❑ Completion of years (insert number) of Total Credited Service
•
Exceptions: If different normal retirement qualifications apply to a particular class or classes of
Regular Employees, the Employer must specify below the classes to whom the different
requirements apply and indicate below the requirements applicable to them.
Class(es) of Regular Employees to whom exception applies (must specify):
Normal retirement qualifications for excepted class(es) are (check one or more as applicable):
❑ Attainment of age
(insert number)
❑ Completion of years (insert number) of Total Credited Service
(2) Elected or Appointed Members of Governing Authority
Complete this Section only if elected or appointed members of the Governing Authority or
Municipal Legal Officers are permitted to participate in the Plan. Normal retirement
qualifications for this class are (check one or more as applicable):
® Attainment of age 65 (insert number)
❑ Completion of
• C. Alternative Normal Retirement Qualifications
years (insert number) of Total Credited Service
Please skip to Section 14.D. - Disability Benefit Qualifications if the Adopting Employer
does not offer alternative normal retirement benefits under the Plan. The Employer may
elect to permit Participants to retire with unreduced benefits after they satisfy service and /or age
requirements other than the regular normal retirement qualifications specified above. The
Employer hereby adopts the following alternative normal retirement qualifications:
Alternative Normal Retirement Qualifications (check one or more, as applicable):
(1)
Alternative Minimum Age & Service Qualifications. (if checked, please
complete one or more items below, as applicable):
® Attainment of age 55 (insert number)
® Completion of 25 years (insert number) of Total Credited Service
This alternative normal retirement benefit is available to:
❑ All Participants who qualify.
E Only the following Participants (must specify): Participants in Class 1,
Class 2, Class 5, Class 7, Class 8, and Class 9 who are Public Safety
Personnel, provided they are at least age 55 and have at least 25 years
of Total Credited Service as Public Safety Personnel with Augusta,
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
-16—
•
•
•
Georgia (see General Addendum subsection 14(a) for definition of
"Public Safety Personnel ").
A Participant (check one): ❑ is required ® is not required to be in the service of
the Employer at the time he satisfies the above qualifications in order to qualify
for this alternative normal retirement benefit.
Other eligibility requirement (must specify):
(2) ❑ Rule of (insert number). The Participant's combined Total Credited
Service and age must equal or exceed this number. Please complete additional
items below:
(3) ❑
To qualify for this alternative normal retirement benefit, the Participant (check
one):
❑ must have attained at least age
(insert number)
❑ must not satisfy any minimum age requirement.
This alternative normal retirement benefit is available to:
❑ All Participants who qualify.
❑ Only the following Participants (must specify):
A Participant (check one): ❑ is required ❑ is not required to be in the service of
the Employer at the time he satisfies the Rule in order to qualify for this
alternative normal retirement benefit.
Other eligibility requirement (must specify):
Alternative Minimum Service. A Participant is eligible for an alternative
normal retirement benefit if he has at least years (insert number) of
Total Credited Service, regardless of the Participant's age.
This alternative normal retirement benefit is available to:
❑ All Participants who qualify.
❑ Only the following Participants (must specify):
A Participant (check one): Li is required ❑ is not required to be in the service of
the Employer at the time he satisfies the qualifications for this alternative normal
retirement benefit.
Other eligibility requirement (must specify):
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
- 17—
• (4) ® Other Alternative Normal Retirement Benefit.
Must specify qualifications:
•
•
® Attainment of age 62 (insert number)
• Completion of 25 years (insert number) of Total Credited Service with
Augusta, Georgia.
This alternative normal retirement benefit is available to:
❑ All Participants who qualify.
® Only the following Participants (must specify): Participants in Class 1,
Class 3, Class 5, Class 6, Class 7, Class 8, and Class 9.
A Participant (check one): ❑ is required ® is not required to be in the service of
the Employer at the time he satisfies the qualifications for this alternative normal
retirement benefit.
Other eligibility requirement (must specify):
D. Disability Benefit Qualifications
Please skip to Section 15 - Retirement Benefit Computation if the Adopting Employer does
not offer disability retirement benefits under the Plan. Subject to the other terms and
conditions of the Master Plan and except as otherwise provided in an Addendum to this
Adoption Agreement, disability retirement qualifications are based upon Social Security
Administration award criteria or as otherwise provided under Section 2.21 of the Master Plan.
The Disability Retirement benefit shall commence as of the Participant's Disability Retirement
Date under Section 2.22 of the Master Plan.
To qualify for a disability benefit, a Participant must have the following minimum number of
years of Total Credited Service:
❑ No minimum.
❑ years (insert number) of Total Credited Service.
Other eligibility requirement (must specify): No minimum, except for Class 6 Participants
with respect to non - employment connected disability (see subsection 14(aa)(iii) of the
General Addendum for eligibility requirements applicable to Class 6).
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
15. RETIREMENT BENEFIT COMPUTATION
A. Maximum Total Credited Service
The number of years of Total Credited Service which may be used to calculate a benefit is
(check one):
-18—
•
® not limited.
❑ limited to years.
❑ limited to years as an elected or appointed member of the Governing
Authority or Municipal Legal Officer.
B. Monthly Normal Retirement Benefit Amount
(1) Regular Employee Formula
The monthly normal retirement benefit for Eligible Regular Employees shall be 1/12 of (check
and complete one or more as applicable):
® (a) Flat Percentage Formula. 1.65% (insert percentage) of Final Average
Earnings multiplied by years of Total Credited Service as an Eligible
Regular Employee.
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
This formula applies to:
❑ All Participants who are Regular Employees.
• Only the following Participants (must specify):
Participants employed with Augusta after January 1, 2010
except as otherwise provided in this Section 15(B)(1) with
respect to specified classes.
(b) Alternative Flat Percentage Formula. 1.4% (insert percentage) of
Final Average Earnings multiplied by years of Total Credited Service as
an Eligible Regular Employee. This formula applies to the following
Participants (must specify): Participants who terminated employment
with Augusta on or before January 1, 2010 and who do not return to
Service as an Eligible Regular Employee after said date, except as
otherwise provided in Sections 15(B)(1)(c) -(d) below with respect to
specified classes.
• (c) Alternative Flat Percentage Formula. 1.0% (insert percentage) of
Final Average Earnings multiplied by years of Total Credited Service as
an Eligible Regular Employee. This formula applies to the following
Participants (must specify): Participants in Class 6.
▪ (d) Split Final Average Earnings Formula. 1.25% (insert percentage) of
Final Average Earnings up to the amount of Covered Compensation (see
subsection (2) below for definition of Covered Compensation), plus
2.0% (insert percentage) of Final Average Earnings in excess of said
Covered Compensation, multiplied by years of Total Credited Service as
an Eligible Regular Employee.
This formula applies to:
- 19—
•
•
•
❑ All Participants who are Regular Employees.
• Only the following Participants (must specify): Participants in
Class 2 and Class 4; Participants in Class 1 and Class 3 when
the benefit determined under this Section 15(B)(1)(d) results in
a higher benefit than the benefit determined under the formula
in Section 15(B)(1)(a) or Section 15(B)(1)(b) above, as
applicable.
❑ (e) Alternative Split Final Average Earnings Formula. % (insert
percentage) of Final Average Earnings up to the amount of Covered
Compensation (see subsection (2) below for definition of Covered
Compensation), plus % (insert percentage) of Final Average
Earnings in excess of said Covered Compensation, multiplied by years of
Total Credited Service as an Eligible Regular Employee.
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
This formula applies to:
❑ All Participants.
❑ Only the following Participants (must specify):
[Repeat above subsections as necessary for each applicable benefit formula and Participant
class covered under the Plan.]
(2) Covered Compensation (complete only if Split Formula(s) is checked above):
Covered Compensation is defined as (check one or more as applicable):
❑ (a) A.I.M.E. Covered Compensation as defined in Section 2.16 of the
Master Plan. This definition of Covered Compensation shall apply to
(check one):
❑ All Participants who are Regular Employees.
❑ Only the following Participants (must specify):
(b) Dynamic Break Point Covered Compensation as defined in Section 2.17
of the Master Plan. This definition of Covered Compensation shall apply
to (check one):
❑ All Participants who are Regular Employees.
Only the following Participants (must specify): Participants to
whom the benefit formula under Section 15(B)(1)(d) applies.
❑ (c) Table Break Point Covered Compensation as defined in Section 2.18 of
the Master Plan. This definition of Covered Compensation shall apply to
(check one):
❑ All Participants who are Regular Employees.
- 20 —
❑ Only the following class(es) of Participants (must specify):
❑ (d) Covered Compensation shall mean a Participant's annual Earnings that
do not exceed $ (specify amount). This definition shall
apply to (check one):
(3)
Final Average Earnings
Unless otherwise specified in an Addendum to the Adoption Agreement, Final Average Earnings
is defined as the annual average of Earnings paid to a Participant by the Adopting Employer for
the 5 (insert number not to exceed 5) consecutive years (12 month periods) of Credited Service
preceding the Participant's most recent Termination in which the Participant's Earnings were the
highest. Note: GMEBS has prescribed forms for calculation of Final Average Earnings that
must be used for this purpose.
This definition of Final Average Earnings applies to:
• All Participants who are Regular Employees.
❑ Only the following Participants (must specify):
[Repeat above subsection as necessary for each applicable definition and Participant class
• covered under the Plan.]
•
(4) Formula for Elected or Appointed Members of the Governing Authority
Complete this Section only if elected or appointed members of the Governing Authority or
Municipal Legal Officers are permitted to participate in the Plan. The monthly normal
retirement benefit for members of this class shall be as follows (check one):
(See subsection 14(c) of the General Addendum.)
$ (insert dollar amount) per month for each year of Total Credited Service as
an elected or appointed member of the Governing Authority or Municipal Legal
Officer or major fraction thereof (6 months and 1 day).
This formula applies to:
❑ All elected or appointed members of the Governing Authority or Municipal Legal
Officers eligible to participate.
❑ Only the following elected or appointed members of the Governing Authority or
Municipal Legal Officers eligible to participate (must specify):
[Repeat above subsection as necessary for each applicable formula for classes of elected or
appointed members covered under the Plan.]
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
- 21 —
❑ All Participants who are Regular Employees.
❑ Only the following Participants (must specify):
• C. Monthly Early Retirement Benefit Amount
Check and complete one or more as applicable:
® (1) Standard Early Retirement Reduction Table. The monthly Early
Retirement benefit shall be computed in the same manner as the monthly
Normal Retirement benefit, but the benefit shall be reduced on an
Actuarially Equivalent basis in accordance with Section 12.01 of the
Master Plan to account for early commencement of benefits. This
provision shall apply to:
(2) Alternative Early Retirement Reduction Table. The monthly Early
Retirement benefit shall be computed in the same manner as the monthly
Normal Retirement benefit, but the benefit shall be reduced to account for
early commencement of benefits based on the following table. This table
shall apply to:
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
❑ All Participants.
N Only the following Participants (must specify): All Participants
except those in Class 6.
❑ All Participants.
• Only the following Participants (must specify): Participants in
Class 6 (See General Addendum subsection 14(aa)(ii)).
Alternative Early Retirement Reduction Table
Number of Years Before Age Percentage of
65 to Age 62, as Applicable Normal Retirement Benefit*
(check as applicable) (complete as applicable)
• 0
N 1
• 2
® 3
® 4
® 5
N 6
• 7
• 8
® 9
N 10
N 11
N 12
N 13
N 14
N 15
- 22 —
1.000
0.95
0.90
0.85
0.80
0.75
0.70
0.65
0.60
0.55
0.50
0.45
0.40
0.35
0.30
0.25
*Interpolate for whole months
D. Monthly Late Retirement Benefit Amount (check one):
(1) The monthly Late Retirement benefit shall be computed in the same
manner as the Normal Retirement Benefit, based upon the Participant's
Accrued Benefit as of his Late Retirement Date.
❑ (2) The monthly Late Retirement benefit shall be the greater of: (1) the
monthly retirement benefit accrued as of the Participant's Normal
Retirement Date, actuarially increased in accordance with the actuarial
table contained in Section 12.06 of the Master Plan; or (2) the monthly
retirement benefit accrued as of the Participant's Late Retirement Date,
without further actuarial adjustment under Section 12.06 of the Master
Plan.
E. Monthly Disability Benefit Amount
Complete this Section only if the Adopting Employer elects to provide Disability retirement
benefits. The amount of the monthly Disability Benefit shall be computed in the same manner
as the Normal Retirement benefit, based upon the Participant's Accrued Benefit as of his
Disability Retirement Date. (But see subsection 14(aa)(iii) of the General Addendum
regarding computation of Disability retirement benefits for Participants in Class 6.)
Minimum Disability Benefit. The Adopting Employer may set a minimum Disability Benefit.
The Employer elects the following minimum Disability benefit (check one):
❑ No minimum is established.
• No less than (check one): ® 20% ❑ 10% ❑ % (if other than 20% or 10%
insert percentage amount) of the Participant's average monthly Earnings for the
12 calendar month period immediately preceding his Termination of Employment
as a result of a Disability. (Unless otherwise specified in an Addendum to the
Adoption Agreement, no minimum will apply to elected or appointed members of
the Governing Authority or Municipal Legal Officers.) (No minimum applies to
Participants in Class 6).
❑ No less than (check one): ❑ 66 2/3 % ❑ % (if other than 66 2/3 %,
insert percentage amount) of the Participant's average monthly Earnings for the
12 calendar month period immediately preceding his Termination of Employment
as a result of a Disability, less any benefits paid from Workers Compensation,
federal Social Security benefits as a result of disability, any state compulsory
disability plan, and any disability income plan paid by the Employer. (Unless
otherwise specified in an Addendum to the Adoption Agreement, no minimum
will apply to elected or appointed members of the Governing Authority or
Municipal Legal Officers.)
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
- 23 —
F. Minimum/Maximum Benefit For Elected Officials
Complete this Section only if elected or appointed members of the Governing Authority
participate in the Plan. In addition to any other limitations imposed by federal or state law, the
Employer may impose a cap on the monthly benefit amount that may be received by elected or
appointed members of the Governing Authority. The Employer elects (check one):
▪ No minimum or maximum applies.
❑ Monthly benefit for Service as an elected or appointed member of the Governing
Authority may not exceed 100% of the Participant's final salary as an elected or
appointed member of the Governing Authority.
❑ Other minimum or maximum (must specify):
A. Distributions For Those Who Remain In Service After Normal Retirement
The Employer may elect to permit active Participants who have satisfied the Employer's
qualifications for Normal Retirement or Alternative Normal Retirement to begin drawing their
benefit even though they have not yet terminated employment with the Employer, subject to the
terms of the Master Plan. However, in accordance with IRS requirements, even if the Employer
elects to permit in- service distributions and a Participant has otherwise satisfied the
qualifications for Normal Retirement or Alternative Normal Retirement in Sections 14.B. or
14.C. above, the Participant will not be permitted to take an in- service distribution unless the
Participant satisfies the applicable minimum age parameters set forth below. The Employer
makes the following election in this regard (check one):
(1) Distribution of retirement benefits is not permitted until the Participant
has terminated employment and otherwise qualifies for receipt of benefits.
❑ (2) Participants who have satisfied the qualifications for Normal Retirement
or Alternative Normal Retirement, or, if higher, the minimum age
parameters set forth below, may begin drawing their Normal Retirement
benefit even though they remain in the service of the Employer. This
provision applies to (check one):
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
16. IN- SERVICE DISTRIBUTIONS; COLA
❑ All Participants
❑ Only Participants in the following classes (in- service distributions
not permitted for any others) (must specify):
Note: To be eligible for an in- service distribution, the Participant's age must meet the following
minimum age parameters:
• For Participants who are not "public safety employees," the Participant must be at least
age 62 or older. Based upon GMEBS' most recent actuarial experience study, this age is
- 24 —
•
reasonably representative of the typical retirement age for the GMEBS' member
municipalities /governmental entities (the "industry" in which members work). If the
Employer selects a Normal Retirement Age or Alternative Normal Retirement Age in
Section 14.B. or 14.C. that is at least age 62, the Plan's normal retirement age will fall
within the IRS pre- approved safe harbor.
• For Participants who are "public safety employees," the Participant must be at least age
50 or older. If the Employer selects a Normal Retirement Age or Alternative Normal
Retirement Age in Section 14.B. or 14.C. that is at least age 50, the Plan's normal
retirement age will fall within the IRS pre- approved safe harbor for public safety
employees. Note: "Public safety employees" are defined under the Internal Revenue
Code for this purpose as employees of a State or political subdivision of a State who
provide police protection, firefighting services, or emergency medical services for any
area within the jurisdiction of such State or political subdivision.
B. Cost Of Living Adjustment
The Employer may elect to provide for an annual cost -of- living adjustment (COLA) in the
amount of benefits being received by Retired Participants and Beneficiaries, which shall be
calculated and paid in accordance with the terms of the Master Plan.
(1) The Employer hereby elects the following (check one):
• (a) No cost -of- living adjustment.
❑ (b) Variable Annual cost -of- living adjustment not to exceed % (insert
percentage).
❑ (c) Fixed annual cost - of - living adjustment equal to % (insert
percentage).
The above cost -of- living adjustment shall apply with respect to the following
Participants (and their Beneficiaries) (check one):
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
❑ All Participants (and their Beneficiaries).
p Participants (and their Beneficiaries) who terminate employment
on or after (insert date).
® Other (must specify): Participants in Class 2 and Class 4 only.
(2) The Employer hereby elects the following (check one):
❑ (a) No cost -of- living adjustment.
(b) Variable Annual cost -of- living adjustment not to exceed 5% (insert
percentage).
❑ (c) Fixed annual cost - of - living adjustment equal to % (insert
percentage).
- 25 —
• The above cost -of- living adjustment shall apply with respect to the following
Participants (and their Beneficiaries) (check one):
❑ All Participants (and their Beneficiaries).
❑ Participants (and their Beneficiaries) who terminate employment
on or after (insert date).
® Other (must specify): Participants in Class 6 only.
(3) The Employer hereby elects the following (check one):
❑ (a) No cost -of- living adjustment.
❑ (b) Variable Annual cost -of- living adjustment not to exceed % (insert
percentage).
• (c) Fixed annual cost -of- living adjustment equal to 1.5% (insert percentage).
The above cost -of- living adjustment shall apply with respect to the following
Participants (and their Beneficiaries) (check one):
C. Re Employment After Retirement
❑ All Participants (and their Beneficiaries).
❑ Participants (and their Beneficiaries) who terminate employment
on or after (insert date).
• Other (must specify): Participants in Class 1, Class 3, Class 5,
Class 7, Class 8, and Class 9 only.
(1) Reemployment After Normal Retirement. In the event a Retired Participant is
reemployed with the Employer as an Eligible Employee after his Normal Retirement Date, the
following rule shall apply (check one):
❑ (a) The Participant's benefit shall be suspended in accordance with Section
6.06(a) of the Master Plan for as long as the Participant remains employed.
❑ (b) The Participant may continue to receive his retirement benefit in
accordance with Section 6.06(c) of the Master Plan. This rule shall apply
to (check one): ❑ all Retired Participants ® only the following classes of
Retired Participants (must specify - benefits of those Retired
Participants not listed shall be suspended in accordance with Section
6.06(a) of the Master Plan if they return to work with the Employer):
Retired Participants who return to employment with the Employer
pursuant to a written reemployment agreement with the Employer.
(2) Reemployment After Early Retirement. In the event a Participant retires with
an Early Retirement benefit and is reemployed with the Employer as an Eligible Employee
before his Normal Retirement Date, the following rule shall apply (check one):
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
- 26 —
•
•
•
❑ (a) The Participant's Early Retirement benefit shall be suspended in
accordance with Section 6.06(a) of the Master Plan for as long as the
Participant remains employed.
• (b) The Participant's eligibility to continue receiving Early Retirement
benefits shall be subject to the following limitations (if this item is
checked, check one of the following):
❑ (i)
The Participant's Early Retirement benefit shall be suspended.
However, the Participant may again begin receiving benefits after
he satisfies the qualifications for Normal Retirement or alternative
Normal Retirement in accordance with Section 6.06(d) of the
Master Plan.
® (ii) The Participant may continue receiving his Early Retirement
benefit in accordance with Section 6.06(e) of the Master Plan,
provided his initial retirement was in good faith and he does not
return to employment with the Employer for a minimum of 6
months (insert number no less than 6) following his effective
Retirement date. If this requirement is not met, the Participant's
benefit shall be suspended until he satisfies the qualifications for
Normal Retirement or alternative Normal Retirement in
accordance with Section 6.06(d) of the Master Plan. This rule
shall apply to (check one): ❑ all Retired Participants ® only the
following classes of Retired Participants (must specify - benefits
of those Retired Participants not listed shall be suspended in
accordance with Section 6.06(a) of the Master Plan if they
return to work with the Employer):
Retired Participants who return to employment with the
Employer pursuant to a written reemployment agreement with
the Employer.
17. TERMINATION OF EMPLOYMENT BEFORE RETIREMENT;
VESTING
A. Eligible Regular Employees
Subject to the terms and conditions of the Master Plan, a Participant who is an Eligible Regular
Employee and whose employment is terminated for any reason other than death or retirement
shall earn a vested right in his accrued retirement benefit in accordance with the following
schedule (check one):
❑ No vesting schedule (immediate vesting).
® Cliff Vesting Schedule. Benefits shall be 100% vested after the Participant has a
minimum of 5 years (insert number not to exceed 10) of Total Credited Service.
Benefits remain 0% vested until the Participant satisfies this minimum.
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
- 27 —
COMPLETED YEARS
VESTED PERCENTAGE
%
OF TOTAL CREDITED SERVICE
1
2
%
3
%
4
%
5
%
6
%
7
%
8
%
9
%
10
%
❑ Graduated Vesting Schedule. Benefits shall become vested in accordance with
the following schedule (insert percentages):
Exceptions: If a vesting schedule other than that specified above applies to a special class(es) of
Regular Employees, the Employer must specify the different vesting schedule below and the
class(es) to whom the different vesting schedule applies.
Regular Employees to whom exception applies (must specify): (1) Participants in Class 2 and
Class 4; and (2) Participants who are employed on or after January 1, 2009 and before
April 1, 2011 in a position that is listed as a senior executive service (SES) position in
subsection 14(11)(iii) of the General Addendum and, effective April 1, 2011, Participants
who are employed on or after April 1, 2011 in a position that is listed as a SES position in
the Augusta, Georgia Personnel Policy and Procedures Manual, provided the preconditions
specified in subsection 14(11)(i) of the General Addendum are satisfied.
Vesting Schedule for excepted class (must specify): (1) For Participants in Class 2 and Class
4, benefits shall be 100% vested after the Participant has a minimum of 10 years of Total
Credited Service. Benefits remain 0% vested until the Participant satisfies this minimum.
(2) Subiect to the preconditions specified in subsection 14(11)(i) of the General Addendum,
Participants who on or after January 1, 2009 and before April 1, 2011 hold a senior
executive service (SES) position listed in subsection 14(ll)(iii) of the General Addendum,
and effective April 1, 2011, Participants who on or after April 1, 2011 hold a senior
executive service (SES) position that is listed in the Augusta, Georgia Personnel Policy and
Procedures Manual, will be considered immediately vested in their accrued normal
retirement benefit (no vesting schedule).
B. Elected or Appointed Members of the Governing Authority
Complete this Section only if Elected or Appointed Members of the Governing Authority
are permitted to participate in the Plan. Subject to the terms and conditions of the Master
Plan, a Participant who is an elected or appointed member of the Governing Authority or a
Municipal Legal Officer shall earn a vested right in his accrued retirement benefit for Credited
Service in such capacity in accordance with the following schedule (check one):
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
-28—
• ▪ No vesting schedule (immediate vesting).
❑ Other vesting schedule (must specify):
A. In- Service Death Benefit
18. PRE- RETIREMENT DEATH BENEFITS
Subject to the terms and conditions of the Master Plan, the Employer hereby elects the following
in- service death benefit, to be payable in the event that an eligible Participant's employment with
the Employer is terminated by reason of the Participant's death prior to Retirement (check and
complete one):
(1) ® Auto A Death Benefit. A monthly benefit payable to the Participant's Pre -
Retirement Beneficiary, equal to the decreased monthly retirement benefit that
would have otherwise been payable to the Participant, had he elected a 100% joint
and survivor benefit under Section 7.03 of the Master Plan. In order to be eligible
for this benefit, a Participant must meet the following requirements (check one):
❑ The Participant must be vested in a normal retirement benefit.
❑ The Participant must have years (insert number) of Total
Credited Service.
❑ The Participant must be eligible for Early or Normal Retirement.
• Other eligibility requirement (must specify): Participants in Class 2 and
Class 4 must be eligible for Early or Normal Retirement; Participants
in any other class must be vested in a normal retirement benefit.
(2) ❑ Actuarial Reserve Death Benefit. A monthly benefit payable to the Participant's
Pre - Retirement Beneficiary, actuarially equivalent to the reserve required for the
Participant's anticipated Normal Retirement benefit, provided the Participant
meets the following eligibility conditions (check one):
❑ The Participant shall be eligible immediately upon becoming a Participant.
❑ The Participant must have years (insert number) of Total Credited
Service.
❑ Other eligibility requirement (must specify):
Imputed Service. For purposes of computing the actuarial reserve death benefit,
the Participant's Total Credited Service shall include (check one):
❑ Total Credited Service accrued prior to the date of the Participant's death.
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
- 29 —
❑ Total Credited Service accrued prior to the date of the Participant's death,
plus (check one): El one - half (' /z) ❑ (insert other
fraction) of the Service between such date of death and what would
otherwise have been the Participant's Normal Retirement Date.
Minimum In- Service Death Benefit for Vested Employees Equal to Terminated Vested Death
Benefit. Unless otherwise specified under "Exceptions" below, if a Participant's employment is
terminated by reason of the Participant's death prior to Retirement, and if as of the date of death
the Participant is vested but he does not qualify for the in- service death benefit, then the Auto A
Death Benefit will be payable, provided the Auto A Death Benefit is made available to
terminated vested employees under the Adoption Agreement (see "Terminated Vested Death
Benefit" below).
(3) Exceptions: If an in- service death benefit other than that specified above applies
to one or more classes of Participants, the Employer must specify below the death benefit
payable, the class(es) to whom the different death benefit applies, and the eligibility conditions
for said death benefit.
Alternative Death Benefit (must specify formula that complies with definitely determinable
requirements of Treasury Regulations Section 1.401- 1(b)(1)(i) and does not violate limits
applicable to governmental plans under Code Sections 401(a)(17) and 415): "Minimum In-
Service Death Benefit" provision in Section 18(A) above is not applicable; See subsection
14(aa)(iv) of the General Addendum for a description of in- service death benefit applicable
to Participants in Class 6.
Participants to whom alternative death benefit applies (must specify): Participants in Class 6.
Eligibility conditions for alternative death benefit (must specify): See subsection 14(aa)(iv) of
the General Addendum.
B. Terminated Vested Death Benefit
(1) Complete this Section only if the Employer offers a terminated vested death
benefit. The Employer may elect to provide a terminated vested death benefit, to be payable in
the event that a Participant who is vested dies after termination of employment but before
Retirement benefits commence. Subject to the terms and conditions of the Master Plan, the
Employer hereby elects the following terminated vested death benefit (check one):
Auto A Death Benefit. A monthly benefit payable to the Participant's Pre -
Retirement Beneficiary, equal to the decreased monthly retirement benefit that
would have otherwise been payable to the Participant had he elected a 100% joint
and survivor benefit under Section 7.03 of the Master Plan.
❑ Accrued Retirement Benefit. A monthly benefit payable to the Participant's Pre -
Retirement Beneficiary which shall be actuarially equivalent to the Participant's
Accrued Normal Retirement Benefit determined as of the date of death.
(2) Exceptions: If a terminated vested death benefit other than that specified above
applies to one or more classes of Participants, the Employer must specify below the death benefit
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
-30—
• payable, the class(es) to whom the different death benefit applies, and the eligibility conditions
for said death benefit.
Alternative Death Benefit (must specify formula that complies with definitely determinable
requirements of Treasury Regulations Section 1.401- 1(b)(1)(i) and does not violate limits
applicable to governmental plans under Code Sections 401(a)(17) and 415): No terminated
vested death benefit.
Participants to whom alternative death benefit applies (must specify): Participants in Class 2,
Class 4, and Class 6.
Eligibility conditions for alternative death benefit (must specify): Not applicable.
19. EMPLOYEE CONTRIBUTIONS
(1) Employee contributions (check one):
❑ Are not required.
❑ Are required in the amount of % (insert percentage) of Earnings for all
Participants.
Are required in the amount of 3.5% (insert percentage) of Earnings for
Participants in the following classes (must specify): Participants in Class 1,
Class 2, Class 3, and Class 4 (employee contribution rates are subject to
change.)
• Are required in the amount of 4.0% (insert percentage) of Earnings for
Participants in the following classes (must specify): Participants in Class 5,
Class 6, Class 7, Class 8, and Class 9 (employee contribution rates are subject
to change.)
[Repeat above subsection as necessary if more than one contribution rate applies.]
(2) Pre -Tax Treatment of Employee Contributions. If Employee Contributions
are required in Subsection (1) above, an Adopting Employer may elect to "pick up" Employee
Contributions to the Plan in accordance with IRC Section 414(h). In such case, Employee
Contributions shall be made on a pre -tax rather than a post -tax basis, provided the requirements
of IRC Section 414(h) are met. If the Employer elects to pick up Employee Contributions, it is
the Employer's responsibility to ensure that Employee Contributions are paid and reported in
accordance with IRC Section 414(h). The Adopting Employer must not report picked up
contributions as wages subject to federal income tax withholding.
The Employer hereby elects (check one):
• To pick up Employee Contributions. By electing to pick up Employee
Contributions, the Adopting Employer specifies that the contributions, although
designated as Employee Contributions, are being paid by the Employer in lieu of
Employee Contributions. The Adopting Employer confirms that the executor of
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
-31—
this Adoption Agreement is duly authorized to take this action as required to pick
up contributions. This pick -up of contributions applies prospectively, and it is
evidenced by this contemporaneous written document. On and after the date of
the pick -up of contributions, a Participant does not have a cash or deferred
election right (within the meaning of Treasury Regulation Section 1.401(k)-
1(a)(3)) with respect to the designated Employee Contributions, which includes
not having the option of receiving the amounts directly instead of having them
paid to the Plan.
❑ Not to pick up Employee Contributions.
(3) Interest on Employee Contributions. The Adopting Employer may elect to pay
interest on any refund of Employee Contributions.
❑ Interest shall not be paid.
D Interest shall be paid on a refund of Employee Contributions at a rate established
by GMEBS from time to time. (This provision applies only to Participants in
Class 2 and Class 4; see subsection 14(aa)(i) of the General Addendum for
provisions on crediting interest for Class 6 and subsection 14(dd) of the
General Addendum for provisions on crediting interest for other classes.)
❑ Other rate of interest (must specify rate, subject to the provisions of Section
13.06 of the Master Plan Document):
20. MODIFICATION OF THE TERMS OF THE ADOPTION
AGREEMENT
If an Adopting Employer desires to amend any of its elections contained in this Adoption
Agreement (or any Addendum), the Governing Authority by official action must adopt an
amendment of the Adoption Agreement (or any Addendum) or a new Adoption Agreement (or
Addendum) must be adopted and forwarded to the Board for approval. The amendment of the
new Adoption Agreement (or Addendum) is not effective until approved by the Board and other
procedures required by the Plan have been implemented.
The Administrator will timely inform the Adopting Employer of any amendments made by the
Board to the Plan.
21. TERMINATION OF THE ADOPTION AGREEMENT
This Adoption Agreement (and any Addendum) may be terminated only in accordance with the
Plan. The Administrator will inform the Adopting Employer in the event the Board should
decide to discontinue this volume submitter program.
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
-32—
•
•
•
•
• 22. EMPLOYER ADOPTION AND AUTHORIZATION FOR
AMENDMENTS
Adoption. The Adopting Employer hereby adopts the terms of the Adoption Agreement and any
Addendum, which is attached hereto and made a part of this resolution. The Adoption
Agreement (and, if applicable, the Addendum) sets forth the Employees to be covered by the
Plan, the benefits to be provided by the Adopting Employer under the Plan, and any conditions
imposed by the Adopting Employer with respect to, but not inconsistent with, the Plan. The
Adopting Employer reserves the right to amend its elections under the Adoption Agreement and
any Addendum, so long as the amendment is not inconsistent with the Plan or the Internal
Revenue Code or other applicable law and is approved by the Board of Trustees of GMEBS.
The Adopting Employer hereby agrees to abide by the Master Plan, Trust Agreement, and rules
and regulations adopted by the Board of Trustees of GMEBS, as each may be amended from
time to time, in all matters pertaining to the operation and administration of the Plan. The
Adopting Employer hereby further agrees to adopt any amendment by the Board to retain the
qualified status of the Plan. It is intended that the Act creating the Board of Trustees of GMEBS,
this Plan, and the rules and regulations of the Board are to be construed in harmony with each
other. In the event of a conflict between the provisions of any of the foregoing, they shall govern
in the following order:
(1) The Act creating the Board of Trustees of The Georgia Municipal Employees'
Benefit System, O.C.G.A. Section 47 -5 -1 et seq. (a copy of which is included in
the Appendix to the Master Defined Benefit Plan Document) and any other
applicable provisions of O.C.G.A. Title 47;
(2) The Master Defined Benefit Plan Document and Trust Agreement;
(3) This Ordinance and Adoption Agreement (and any Addendum); and
(4) The rules and regulations of the Board.
In the event that any section, subsection, sentence, clause or phrase of this Plan shall be declared
or adjudged invalid or unconstitutional, such adjudication shall in no manner affect the
previously existing provisions or the other section or sections, subsections, sentences, clauses or
phrases of this Plan, which shall remain in full force and effect, as if the section, subsection,
sentence, clause or phrase so declared or adjudicated invalid or unconstitutional were not
originally a part hereof. The Governing Authority hereby declares that it would have passed the
remaining parts of this Plan or retained the previously existing provisions if it had known that
such part or parts hereof would be declared or adjudicated invalid or unconstitutional.
This Adoption Agreement (and any Addendum) may only be used in conjunction with the
Georgia Municipal Employees Benefit System Master Defined Benefit Retirement Plan
Document. The Adopting Employer understands that failure to properly complete this Adoption
Agreement (or any Addendum), or to operate and maintain the Plan and Trust in accordance with
the terms of the completed Adoption Agreement (and any Addendum), Master Plan Document
and Trust, may result in disqualification of the Adopting Employer's Plan under the Internal
Revenue Code. Inquiries regarding the adoption of the Plan, the meaning of Plan provisions, or
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
- 33 —
•
•
• the effect of the IRS advisory letter should be directed to the Administrator. The Administrator
is Georgia Municipal Employees Benefit System, with its primary business offices located at:
201 Pryor Street, SW, Atlanta, Georgia, 30303. The business telephone number is: (404) 688-
0472. The primary person to contact is: GMEBS Legal Counsel.
•
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
- 34 —
•
•
AN ORDINANCE (continued from page 1)
Section 2. Except as otherwise specifically required by law or by the terms of the Master
Plan or Adoption Agreement (or any Addendum), the rights and obligations under the Plan with
respect to persons whose employment or term of office with Augusta, Georgia was terminated
for any reason whatsoever prior to the effective date of this Ordinance are fixed and shall be
governed by such Plan, if any, as it existed and was in effect at the time of such termination.
Section 4. All Ordinances and parts of ordinances in conflict herewith are expressly
repealed.
(SEAL)
Np by the Augusta, Georgia Commission Council this
, 20 1/ .
Approved:
Attorney
The terms of the foregoing Adoption Agreement are approved by the Board of Trustees
of Georgia Municipal Employees Benefit System.
IN WITN SS WHEREOF, the Board of Trustees of Georgia Municipal Employees
Be System has sed its Seal and the signatures of its duly authorized officers to be affixed
this -- day ° UM-UK , 20 1 I .
(SEAL)
I/2637722.2
Section 3. The effective date of this Ordinance shall be November 1, 2011.
Augusta GMEBS Plan I
Amended and Restated November 1, 2011
-35—
A GUSTA, GE • RGIA
Mayor
Board of Trustees
Georgia Municipal Employees
Benefit System
day of
* ** Item (2) of pre- approved Addendum — Not Applicable * **
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
GENERAL ADDENDUM TO THE
GEORGIA MUNICIPAL EMPLOYEES BENEFIT SYSTEM
DEFINED BENEFIT RETIREMENT PLAN
ADOPTION AGREEMENT
This is an Addendum to the Adoption Agreement completed by
Augusta, Georgia ( "Augusta ") for Augusta GMEBS Plan I, as follows
(complete one or more sections, as applicable):
(1) Addition of a new Department or a new class of Eligible Employees (for
amendment of Adoption Agreement Addition of a new Department or a
new class of Eligible Employees (for amendment of Adoption
Agreement only - see Section 9 of Adoption Agreement) (check and
complete as applicable):
❑ Employees of (specify entity), a related
governmental agency, shall be covered under this Plan, pursuant
to a subscription agreement, which is attached hereto.
® Certain Former ARCPC Employees - Certain former employees of the
Augusta- Richmond County Planning Commission ( "ARCPC ") shall
participate in Augusta GMEBS Plan I (this Plan) on and after November 1,
2011, in accordance with and subject to this subsection and subsections 3(a),
14(a) and 14(oo) of this Addendum. This class includes: 1) Eligible Regular
Employees who were employed with the ARCPC on October 31, 2011, who
did not participate in the ARCPC's GMEBS Defined Benefit Retirement
Plan ( "ARCPC's GMEBS DB Plan ") as of such date, and who became
Eligible Regular Employees of Augusta on November 1, 2011; and 2)
Employees who were employed with the ARCPC on October 31, 2011, who
participated in the ARCPC's GMEBS Defined Benefit Retirement Plan as of
such date, who became employees of Augusta, Georgia on November 1, 2011,
who subsequently terminate employment with Augusta, Georgia and who are
later re -hired by Augusta, Georgia as Eligible Regular Employees, but only
with respect to Service with Augusta on and after said re -hire date. See also
subsections 14(a) and 14(oo) of this Addendum.
• (3)
1
❑ All Regular Employees.
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
- 2 —
Special Waiting Period Requirements for Regular Employees - (see
Section 11 of Adoption Agreement regarding Waiting Period) (check as
applicable):
® (a) No Waiting Period; Immediate Participation. Except as otherwise
provided below or where suspension of benefits is required as
provided in Section 6.06 of the Master Plan, there will be no waiting
period for participation under the Plan. This provision shall apply to
(check one):
® The following class(es) (must specify): Eligible Regular Employees
who were employed with the ARCPC on October 31, 2011, who did
not participate in the ARCPC's GMEBS DB Plan as of such date, and
who became Eligible Regular Employees of Augusta on November 1,
2011.
® (b) Alternative 30 -Day Waiting Period - Notwithstanding any provision
in the Adoption Agreement to the contrary and except as provided in
subsection 3(a) above, effective January, 1, 2008 with respect to
Eligible Employees initially employed or reemployed on or after said
date, there will be a thirty (30) day waiting period for participation
under this Plan. Eligible Employees shall commence participation in
the Plan as of the first day of the month coinciding with or following
the date they satisfy the 30 -day waiting period, except as otherwise
provided in the Adoption Agreement and this Addendum with respect
to Eligible Employees for whom participation is optional and who
elect in accordance with the terms of the Adoption Agreement not to
participate in this Plan. Employee contributions to the Plan shall
commence as of the first full payroll period that begins on or after the
date that the Employee's participation in the Plan begins.
[Repeat above subsection as necessary for each applicable waiting period and Participant
class covered under the Plan.]
* ** Items (4) and (5) of pre- approved Addendum — Not Applicable * **
(6) Modified Definition of Earnings. For purposes of determining Final
Average Earnings, Earnings as defined in Section 2.24 of the Master
Plan shall be modified as follows (check all that apply):
❑ (a) excluding overtime pay.
❑ (b) excluding bonuses.
❑ (c) excluding perquisites or allowances for use of a car or house
rent.
® (d) excluding severance payments.
O (e) excluding reimbursed expenses and lump sum vacation pay,
(specify type of excluded earnings).
This definition of Earnings applies to (check one):
• All Participants. (But see General Addendum subsection 14(nn) regarding
inclusion of severance payments for certain SES Participants who terminate
employment on or after April 1, 2011 and execute a separation agreement
with Augusta, Georgia).
❑ Only the following Participants (must specify):
[Repeat above subsection as necessary for each applicable definition and Participant
class covered under the Plan.]
* ** Items (7) through (13) of pre- approved Addendum — Not Applicable * **
(14) Other:
(a) Participant Classes. The following description of classes of Eligible
Employees shall control in administering the Plan. The Class to which a
person belongs will be determined based upon the records of the Employer as
reported to GMEBS. Employees shall qualify for participation by meeting
the applicable eligibility requirements specified in Sections 9 -12 of the
Adoption Agreement and this Addendum:
Class 1 (Class 1 Public Safety Personnel under former GMEBS Plan who
Elect New Plan): This class includes 1) Public Safety Personnel who were
employed on the original effective date of the GMEBS Plan (March 1, 1987)
and who were not participants in any other Employer- sponsored retirement
plan and 2) Public Safety Personnel who were hired after March 1, 1987 and
before December 17, 1996, who elected in accordance with the election
procedures specified in Sections 7.11 -7.15 of the Addendum to the Adoption
Agreement that became effective January 1, 2008 (Ordinance No. 7017)
(affirmatively or by default) to be bound by the terms of the restated
GMEBS Plan that apply to Class 1 Employees effective January 1, 2008.
For purposes of this Adoption Agreement and Addendum, the term "Public
Safety Personnel" shall mean a police officer who is a Full -Time Employee
and is certified under the Georgia Peace Officer Standards and Training Act,
or a fire - fighter who is a Full -Time Employee and is certified under the
Georgia Fire Fighter Standards and Training Act. The term "Full -Time
Employee" shall mean an Employee who meets the minimum "hours per
week" and "months per year" requirements specified under Section 10 of the
Adoption Agreement ( "Eligibility Conditions ").
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
-3-
Class 2 (Class 1 Public Safety Personnel under former GMEBS Plan Who Do
Not Elect New Plan): This class includes 1) Public Safety Personnel who
were employed on the original effective date of the GMEBS Plan (March 1,
1987) and who were not participants in any other Employer- sponsored
retirement plan and 2) Public Safety Personnel who were hired after March
1, 1987 and before December 17, 1996, who elected, in accordance with and
subject to the established administrative procedures for such election, not to
be bound by the terms of the restated GMEBS Plan that apply to Class 1
Employees effective January 1, 2008.
Class 3 (Class 2 Non - Public Safety Personnel under former GMEBS Plan
Who Elect New Plan): This class includes Employees, other than Public
Safety Personnel, who were employed on the effective date of the GMEBS
Plan (March 1, 1987) who were not participants in any other Employer -
sponsored retirement plan, and Employees, other than Public Safety
Personnel, who were hired after March 1, 1987 and before December 17,
1996, who elected (affirmatively or by default) in accordance with the
election procedures specified in Sections 7.11 -7.15 of the Addendum to the
Adoption Agreement that became effective January 1, 2008 (Ordinance No.
7017), to be bound by the terms of the restated GMEBS Plan that apply to
Class 3 Employees effective January 1, 2008.
Class 4 (Class 2 Non - Public Safety Personnel under former GMEBS Plan
Who Do Not Elect New Plan): This class includes Employees, other than
Public Safety Personnel, who were employed on the effective date of the
GMEBS Plan (March 1, 1987) who were not participants in any other
Employer- sponsored retirement plan, and Employees, other than Public
Safety Personnel, who were hired after March 1, 1987 and before December
17, 1996, who elected in accordance with the election procedures specified in
Sections 7.11 -7.15 of the Addendum to the Adoption Agreement that became
effective January 1, 2008 (Ordinance No. 7017), not to be bound by the terms
of the restated GMEBS Plan that apply to Class 3 Employees effective
January 1, 2008.
Class 5 (Participants under former 1977 DB Retirement Plan Who Elect New
Plan): This class includes Employees who were participants under the 1977
DB Retirement Plan immediately prior to January 1, 2008 and who elected
(affirmatively or by default), in accordance with the election procedures
specified in Sections 7.11 -7.15 of the Addendum to the Adoption Agreement
that became effective January 1, 2008 (Ordinance No. 7017), to be bound by
the terms of the restated GMEBS Plan that apply to Class 5 Employees
effective January 1, 2008.
Class 6 (Participants under former 1977 DB Retirement Plan Who Do Not
Elect New Plan): This class includes Employees who were participants under
the 1977 DB Retirement Plan immediately prior to January 1, 2008 and who
elected, in accordance with the election procedures specified in Sections 7.11-
7.15 of the Addendum to the Adoption Agreement that became effective
January 1, 2008 (Ordinance No. 7017), not to be bound by the terms of the
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
-4—
restated GMEBS Plan that apply to Class 5 Employees effective January 1,
2008.
Class 7 (Participants under former 1998 DC Plan Who Elect New Plan):
This class includes Employees who were participants under the City of
Augusta - Richmond County 1998 Defined Contribution Retirement Plan
immediately prior to January 1, 2008 (including elected or appointed
members of the Governing Authority who participated under the 1998 DC
Plan) who elected (affirmatively or by default), in accordance with the
election procedures specified in Sections 7.11 -7.15 of the Addendum to the
Adoption Agreement that became effective January 1, 2008 (Ordinance No.
7017), to transfer their defined contribution plan account balance to GMEBS
and to participate under the terms of the restated GMEBS Plan that apply to
Class 7 Employees effective January 1, 2008.
Class 8 (Employees Who Do Not Participate in Any Plan): This class
includes Employees who were actively employed as of October 1, 2007 and
who as of said date were not participating in any defined benefit retirement
plan or defined contribution plan or other retirement plan which was funded
in whole or part by Augusta (as reflected in the records of Augusta and as
reported to GMEBS).
Class 9 (Employees Hired or Re -hired after October 1, 2007): This class
includes Eligible Regular Employees who are hired or re -hired by Augusta
after October 1, 2007, and elected or appointed members of the Governing
Authority who take office or return to office after October 1, 2007 (subject to
any applicable election requirements or other limitations on participation by
members of the Governing Authority or other special classes referred to in
subsection 14(b) below). This class also includes Eligible Regular Employees
who were employed with the Augusta Richmond County Planning
Commission (ARCPC) on October 31, 2011, who did not participate in the
ARCPC's GMEBS Defined Benefit Plan as of October 31, 2011, and who
became employees of Augusta on November 1, 2011. This class shall not
include employees who were employed with the ARCPC on October 31, 2011,
who participated in the ARCPC's GMEBS Defined Benefit Retirement Plan
as of such date, and who became employees of Augusta on November 1, 2011,
unless such employees subsequently terminate employment with Augusta
and are later re -hired by Augusta.
(b) Participation Optional For Certain Classes; 30 -Day Election Period. This
subsection 14(b) shall apply notwithstanding any provision in Section 12 of
the Adoption Agreement to the contrary. Participation in this Plan is
optional for certain classes of Eligible Regular Employees and elected or
appointed members of the Governing Authority, as provided below. If
participation is optional, then the individual must make an election to
participate in either this Plan or the Georgia Municipal Association (GMA)
Defined Contribution Plan, on a form provided by the Employer for such
purpose and in accordance with procedures specified by the Employer,
within 30 days after employment or taking office (see also General
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
-5—
Addendum subsection 14(gg) concerning applicable election requirements).
The election is irrevocable, and the failure to make the election within the 30-
day time limit shall be deemed an irrevocable election to participate in this
Plan rather than the GMA Defined Contribution Plan. Subject to the above
election requirements, participation is optional for the following classes:
® Elected or Appointed Members of Governing Authority — Any
Employee who initially takes office (no prior service with Augusta) as
an elected or appointed member of the Governing Authority (member
of the Augusta, Georgia Commission Council) after October 1, 2007
or who returns to said office after October 1, 2007. However, those
employed or in office as of October 1, 2007 will be bound by their plan
election made in accordance with and subject to the administrative
procedures for such election specified under Sections 7.11 -7.15 of the
Addendum to the Adoption Agreement that became effective January
1, 2008 (Ordinance No. 7017). (See subsection 14(gg) concerning the
effect of later return to service.)
• Law Department Staff Attorneys — Any Employee who is initially
employed (no prior service with Augusta) as an Augusta Law
Department General Counsel or Law Department staff attorney or
who is reemployed in said position after October 1, 2007. However,
those employed as of October 1, 2007 will be bound by their plan
election made in accordance with and subject to the administrative
procedures for such election specified under Sections 7.11 -7.15 of the
Addendum to the Adoption Agreement that became effective January
1, 2008 (Ordinance No. 7017). (See subsection 14(gg) concerning the
effect of later return to service.)
® Administrator, Assistant Administrators — Any Employee who is
initially employed (no prior service with Augusta) as an Augusta
Administrator or Assistant Administrator, or who is reemployed in
said position after October 1, 2007. However, those employed as of
October 1, 2007 will be bound by their plan election made in
accordance with and subject to the administrative procedures for
such election specified under Sections 7.11 -7.15 of the Addendum to
the Adoption Agreement that became effective January 1, 2008
(Ordinance No. 7017). (See subsection 14(gg) concerning the effect of
later return to service.)
• Department Directors, Assistant Dept. Directors — Any Employee who
is initially employed (no prior service with Augusta) as a Department
Director or Assistant Department Director, or who is reemployed in
said position after October 1, 2007. However, those employed as of
October 1, 2007 will be bound by their plan election made in
accordance with and subject to the administrative procedures for
such election specified under Sections 7.11 -7.15 of the Addendum to
the Adoption Agreement that became effective January 1, 2008
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
-6—
(Ordinance No. 7017). (See subsection 14(gg) concerning the effect of
later return to service.)
® Other (must specify): — Notwithstanding the above provisions
allowing for optional participation, participation in this Plan will be
mandatory for any person who is a member of Class 8 (see subsection
14(a) above for a description of Class 8).
Note: See also subsection 14(gg) concerning treatment of classes for whom
participation is optional and mandatory participation in GMEBS DB
Plan in the event of later termination and return to Service.
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
-7—
•
(C) Formula for Elected or Appointed Members of the Governing Authority.
The monthly normal retirement benefit for elected or appointed members of
the Governing Authority shall be 1/12 of 1.65% of the Participant's Final
Average Earnings multiplied by years of Total Credited Service as an elected
or appointed member of the Governing Authority. This formula applies to
all Participants who are elected or appointed members of the Governing
Authority and who hold office after January 1, 2010.
(d) New GMEBS Plan Election by 1998 Defined Contribution Plan Participants;
Generally. Augusta, Georgia (hereinafter "Augusta ") previously maintained
a defined contribution plan known as the 1998 Augusta Money Purchase
Plan (Nationwide Retirement Solutions Governmental Defined Contribution
Plan, hereinafter referred to as the "1998 Defined Contribution Plan" or
"DC Plan "). Employees who were actively employed (as reflected in the
records of the Employer) as of October 1, 2007, including elected or
appointed members of the Governing Authority, who were Participants in
the 1998 Defined Contribution Plan and including any Employees who would
have been eligible to participate under the DC Plan as of October 1, 2007 but
who had not yet satisfied the 30 -day waiting period under the DC Plan as of
October 1, 2007, were required to make a one -time, irrevocable election on a
form provided by Augusta for such purpose and in accordance with the
administrative procedures specified in Sections 7.11 -7.15 of the Addendum to
the Adoption Agreement that became effective January 1, 2008 (Ordinance
No. 7017) to either: 1) continue participating in the DC Plan, subject to the
terms and conditions of the DC Plan, as amended and restated effective
January 1, 2008; or 2) waive their benefits under the DC Plan, transfer their
DC Plan account balance to this Plan (new GMEBS DB Plan), and begin
participating under this Plan subject to the terms and conditions of this Plan
and in particular those terms and conditions applicable to Class 7
Employees. Terminated Employees and former Participants under the DC
Plan (as of October 1, 2007) were not permitted to make an election and
continued to be subject to the terms of the DC Plan, as amended and restated
effective January 1, 2008, with respect to their period of participation under
the DC Plan, except as otherwise provided in subsection 14(q) below
(concerning reemployment).
(e) Effect of New GMEBS DB Plan Election by 1998 DC Plan Participants (Class
D. If pursuant to the administrative procedures specified in Sections 7.11-
7.15 of the Addendum to the Adoption Agreement that became effective
January 1, 2008 (Ordinance No. 7017) an Employee participant under the
DC Plan as of October 1, 2007 elected (affirmatively or by default) to waive
his participation under the DC Plan in favor of participation under this Plan
(new GMEBS DB Plan): 1) he was required as part of said election to
authorize and direct (or he was deemed to have authorized and directed in
the case of a default election) the transfer of the value of all accounts
maintained on behalf of the Employee under the DC Plan as of December 31,
2007 (including all employer contributions, employee contributions, and
earnings thereon up until the transfer date, but excluding any rollover
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
-8—
•
contributions and earnings thereon) from the DC Plan to this Plan, for the
purpose of funding benefits payable under this Plan (no partial account
transfers were permitted); 2) he became subject to the terms of the GMEBS
Master Plan, the Adoption Agreement and this Addendum generally, and the
plan benefits and features that apply to Class 7 Employees in particular (as
reflected in the GMEBS Adoption Agreement and this Addendum); 3) the
period of service with Augusta prior to January 1, 2008 during which the
Employee made required employee contributions to the DC Plan, as reflected
in the records of the Employer and as reported to GMEBS, excluding any
periods for which the Employee did not make employee contributions to the
DC Plan and provided the Employee has not previously withdrawn or
received a distribution of his DC Plan account funds (in the event of a partial
withdrawal, the employee's credit for prior service will be prorated), were
taken into account under this Plan for purposes of determining the amount
of any retirement or death benefit payable to or on behalf of the Employee
under this Plan and for purposes of meeting this Plan's minimum service
requirements for vesting, and eligibility for retirement or death benefits,
except as otherwise provided in subsection 14(ee) below (concerning
employee withdrawal of contributions); 4) he was considered vested in his
transferred employer contributions as of December 31, 2007 to the extent he
was vested in said contributions under the terms of the DC Plan as of
December 31, 2007 and he will be considered 100% vested in said employer
contributions when he has at least 5 years of combined Credited Service
under the former DC Plan and the new GMEBS DB plan; 5) he was 100%
vested in his transferred employee contributions as of December 31, 2007,
and the Employee has a guaranteed minimum benefit, payable in accordance
with the benefit payment options available under this Plan, equal to the value
of his transferred employee contributions under the DC Plan as of December
31, 2007, plus 5% interest per year after December 31, 2007, computed in
accordance with subsection 14(dd) below (this provision shall not be
interpreted to permit lump sum distributions, except as otherwise permitted
in the Master Plan); 6) if the Employee terminates employment with Augusta
before becoming 100% vested under this Plan, the amount of his employee
contributions, including employee contributions transferred from the 1998
DC Plan, together with interest computed in accordance with subsection
14(dd) below, will be paid to the Employee (or to the Employee's estate in the
case of termination due to death) in a lump sum in lieu of any other benefit
under this Plan; 7) if the Employee terminates employment, retires, or dies
after becoming 100% vested under this Plan, the total amount of benefits
paid to the Employee (and /or his Beneficiary, as applicable) cannot be less
than the value of the Employee's transferred employee contributions as of
December 31, 2007 plus any employer contributions transferred from the
1998 DC Plan, plus interest on such amounts, computed in accordance with
subsection 14(dd) below, reduced by any benefits previously paid to the
Employee (or his Beneficiary) under the Plan; 8) the Employee's Credited
Service with other GMEBS member employers (apart from Augusta) was
counted in determining whether the Employee has satisfied the minimum
service requirements for vesting under this Plan; and 9) if the Employee had
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
-9—
•
(g)
credited service under the 1977 DB Plan or the Old GMEBS Plan prior to
January 1, 2008 (excluding any periods for which the Employee did not make
employee contributions and provided the Employee has not previously
withdrawn or received a distribution of his employee contributions) such
credited service will also be counted under this Plan for purposes of
determining the amount of any retirement or death benefit payable to or on
behalf of the Employee under this Plan and for purposes of meeting this
Plan's minimum service requirements for vesting and eligibility for
retirement or death benefits.
(f) Treatment of Transferred DC Plan Account Funds. 1998 Defined
Contribution Plan account balances transferred to this Plan pursuant to
subsection 14(e) above will be used to help fund benefits payable to the
Employee (and /or his Beneficiary under this Plan, as applicable) under this
Plan. Amounts transferred to this Plan shall not otherwise be distributable
to the Employee or any other person or entity, except as otherwise provided
in subsection 14(e) above or subsection 14(ee) below (concerning employee
withdrawal of contributions). Upon the transfer of DC account funds to this
Plan, Employees who elected the new GMEBS Plan shall have no further
right, title, or interest under the DC Plan in its then current form or as
amended, except with respect to any rollover contributions and earnings
thereon remaining in the DC Plan.
Effect of Election to Remain in DC Plan. If an Employee participant under
the DC Plan as of October 1, 2007 elected not to transfer to this Plan, then he
will not be permitted to participate in this Plan or receive any benefit from
this Plan, except as otherwise provided in this subsection 14(g) or under
subsection 14(r) below (concerning reemployment). If a DC Plan participant
elected not to transfer to this Plan and he had previously participated under
the 1977 Plan or the old GMEBS Plan, then his eligibility for early or normal
retirement benefits and the amount of any retirement benefit payable with
respect to his prior period of participation under such plan (including cost -
of- living adjustments), if any, shall be determined based upon the benefit
formula and the other terms of 1977 Plan or the old GMEBS plan (as
applicable) in effect as of the date that he ceased participating in said plan as
an active employee, and his final average earnings as of said date. In no
event will a DC Plan participant who elected not to transfer to this Plan be
eligible for disability benefits or pre- retirement death benefits under this
Plan based on his prior old GMEBS Plan or 1977 Plan service, except as
otherwise provided below with respect to reemployment.
(h) New GMEBS Plan Election by 1977 Defined Benefit Plan Participants;
Generally. Augusta previously maintained a defined benefit plan known as
the January 1, 1977 Retirement Plan (hereinafter referred to as the "1977
DB Plan" or "1977 Plan "). Employees who were actively employed and who
were participants in the 1977 Plan as of October 1, 2007 (as reflected in the
records of the Employer) were required to make a one -time, irrevocable
election on a form provided by Augusta for such purpose and in accordance
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
- 10—
(i)
with the administrative procedures specified in Sections 7.11 -7.15 of the
Addendum to the Adoption Agreement that became effective January 1, 2008
(Ordinance No. 7017) to either: 1) be subject to the plan benefits and
features that apply to 1977 Plan Employees who elected the new GMEBS DB
Plan (as reflected in the GMEBS Adoption Agreement and General
Addendum provisions applicable to Class 5 Employees); or 2) continue to be
subject to certain plan benefits and features that previously applied under
the 1977 Plan (as reflected in the GMEBS Adoption Agreement and General
Addendum provisions applicable to Class 6 Employees). Terminated
Employees and former Participants under the 1977 Plan (as of October 1,
2007) were not permitted to make an election and the amount of benefits
payable to them upon normal retirement, if any, will be determined based
upon their vested accrued normal retirement benefit as determined under
the terms of the 1977 Plan in effect as of the date that they terminated
participation under the 1977 Plan as an active employee, and their final
average earnings determined under the terms of the 1977 Plan as of said
termination date (except as otherwise provided in subsection 14(s) below
(concerning reemployment)). Except as otherwise provided in subsection
14(s) below (concerning reemployment), said former participants under the
1977 Plan shall otherwise be subject to the terms and conditions of the
GMEBS Adoption Agreement and Addendum that apply to Class 6
Employees with respect to eligibility requirements for early or normal
retirement, cost -of- living adjustments, early retirement reduction factors,
terminated vested death benefits (none available), benefit payment options
(except that Retirees and beneficiaries in pay status as of December 31, 2007
will be bound by the retirement benefit payment option previously selected
by the Retiree), interest on employee contributions, the grandfathered 415
limit (see subsection 14(aa)(v)), and termination of disability retirement
benefits.
Effect of New GMEBS Plan Election by 1977 DB Plan Participants (Class 5).
If pursuant to the administrative procedures specified in Sections 7.11 -7.15 of
the Addendum to the Adoption Agreement that became effective January 1,
2008 (Ordinance No. 7017) an Employee participant under the 1977 Defined
Benefit Plan as of October 1, 2007 elected (affirmatively or by default) to
waive certain benefits payable under the terms of the 1977 DB Plan in favor
of participation under this Plan (new GMEBS DB Plan): 1) he was required
as part of said election to authorize (or in the case of a default election, he
was deemed to have authorized) the use of all employee contributions made
to the 1977 Plan (and accumulated interest thereon) to help fund benefits
payable under this Plan; 2) he became subject to the terms of the GMEBS
Master Plan, this Adoption Agreement and Addendum generally, and the
plan benefits and features that apply to Class 5 Employees in particular (as
reflected in the GMEBS Adoption Agreement and this Addendum); 3) his
credited service as determined under the terms of the 1977 Plan in effect
immediately prior to January 1, 2008 (as reflected in the records of the
Employer and as reported to GMEBS), excluding any periods during which
the Employee did not make required contributions to the 1977 Plan or any
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
-11—
•
•
•
period for which the Employee had withdrawn or received a refund of
employee contributions, will be taken into account under this Plan for
purposes of determining the amount of any retirement or death benefit
payable to or on behalf of the Employee under this Plan and for purposes of
meeting the minimum service requirements for vesting and eligibility for
retirement or death benefits applicable to Class 5 Employees; 4) his Credited
Service with other GMEBS member employers (apart from Augusta) will be
counted in determining whether the Employee has satisfied the minimum
service requirements for vesting under this Plan; and 5) if the Employee had
previously participated under the old GMEBS Plan, his credited service
under the old GMEBS Plan prior to January 1, 2008, if any (excluding any
periods for which the Employee did not make employee contributions and
provided the Employee had not previously withdrawn or received a
distribution of his employee contributions) will be taken into account under
this Plan for purposes of determining the amount of any retirement or death
benefit payable to or on behalf of the Employee under this Plan and for
purposes of meeting this Plan's minimum service requirements for vesting
and eligibility for retirement or death benefits.
(j) Effect of Election to Remain Subject to Certain 1977 DB Plan Provisions
(Class 6). If pursuant to the administrative procedures specified in Sections
7.11 -7.15 of the Addendum to the Adoption Agreement that became effective
January 1, 2008 (Ordinance No. 7017) an Employee participant under the
1977 Defined Benefit Plan as of October 1, 2007 elected not to be subject to
the terms of new GMEBS Plan that apply to Class 5 Participants: 1) he
continued to be subject to certain plan benefits and features that previously
applied under the 1977 Plan (as reflected in the GMEBS Adoption
Agreement and Addendum provisions applicable to "Class 6" Employees); 2)
employee contributions previously made to the 1977 DB Plan (and
accumulated interest thereon) were used to fund Class 6 benefits payable to
the Employee under this Plan; 3) he became subject to the applicable terms
of the GMEBS Master Plan, the Adoption Agreement and this General
Addendum generally, and the plan benefits and features that apply to Class 6
Employees in particular (as reflected in the GMEBS Adoption Agreement
and General Addendum), except as otherwise provided in this subsection and
in subsection 14(aa) (concerning certain 1977 Plan provisions that remain in
effect for Class 6 Employees) and subsection 14(t) (concerning
reemployment); 4) his credited service under the 1977 Plan as determined
under the terms of the 1977 Plan in effect immediately prior to January 1,
2008 (as reflected in the records of the Employer and as reported to
GMEBS), excluding any periods during which the Employee did not make
required contributions to the 1977 Plan or any period for which the
Employee had withdrawn or received a refund of employee contributions,
will be taken into account under this Plan for purposes of determining the
amount of any retirement or death benefit payable to or on behalf of the
Employee under this Plan and for purposes of meeting the minimum service
requirements for vesting and eligibility for retirement or death benefits
applicable to Class 6 Employees; 5) his Credited Service with other GMEBS
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
- 12 —
member employers will not be counted in determining whether the Employee
has satisfied the minimum service requirements for vesting under this Plan;
and 6) if he had previously participated under the old GMEBS Plan prior to
January 1, 2008, then his eligibility for early or normal retirement benefits
and the amount of any retirement benefit payable with respect to his period
of participation under the old GMEBS plan (including cost -of- living
adjustments), if any, shall be determined based upon the benefit formula and
the other terms of the old GMEBS plan in effect as of the date that he ceased
participating in said plan as an active employee, and his final average
earnings as of said date, except as otherwise provided below with respect to
reemployment.
(k) New Plan Election by GMEBS DB Plan Participants; Generally. Employees
who were actively employed and who were Participants in Augusta's
GMEBS Defined Benefit Plan as of October 1, 2007 (as reflected in the
records of the Employer) made a one -time, irrevocable election on a form
approved for such purpose and in accordance with the procedures specified
in Sections 7.11 -7.15 of the Addendum to the Adoption Agreement that
became effective January 1, 2008 (Ordinance No. 7017) to either: (1) be
subject to the plan benefits and features that apply to GMEBS Plan
participants who elect the new GMEBS Plan (as reflected in the GMEBS
Adoption Agreement and General Addendum provisions applicable to Class
1 Employees (public safety employees formerly known as "Class 1"
Employees under old GMEBS Plan who elected the new GMEBS Plan) and
Class 3 Employees (non - public safety employees formerly known as "Class
2" Participants under old GMEBS Plan who elected the new GMEBS Plan);
or (2) continue to be subject to certain plan benefits and features that applied
under the GMEBS Plan prior to January 1, 2008 ( "Old GMEBS Plan" or
"former GMEBS Plan ") (as reflected in the new GMEBS Adoption
Agreement and General Addendum provisions applicable to Class 2
Employees (public safety employees formerly known as "Class 1"
Participants under old GMEBS Plan who did not elect new GMEBS Plan)
and Class 4 Employees (non - public safety employees formerly known as
"Class 2" Participants under old GMEBS Plan who did not elect the new
GMEBS Plan). Terminated Employees and former Participants under the
GMEBS Plan (as of October 1, 2007) were not permitted to make an election
and remain subject to the old GMEBS plan terms and conditions, benefits
and features that were in effect as of the person's termination date (as
applicable, depending on the person's classification under the old GMEBS
Plan), except as otherwise provided in subsection 14(u) below (concerning
reemployment).
(1) Effect of New Plan Election by GMEBS Participants (Class 1 and Class 3). If
pursuant to the administrative procedures specified in Sections 7.11 -7.15 of
the Addendum to the Adoption Agreement that became effective January 1,
2008 (Ordinance No. 7017) an Employee Participant under the GMEBS Plan
as of October 1, 2007 elected (affirmatively or by default) to waive benefits
payable under the terms of the former GMEBS Plan in favor of benefits
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
- 13 —
(m )
payable under the terms of the new GMEBS Plan that became effective
January 1, 2008: 1) he became subject to the terms of the GMEBS Master
Plan, the Adoption Agreement and this General Addendum generally, and
the plan benefits and features that apply in particular to Class 1 Employees
(public safety Employees formerly known as "Class 1" Employees under old
GMEBS Plan who elected the new GMEBS Plan) or Class 3 Employees (non-
public safety Employees formerly known as "Class 2" Participants under old
GMEBS Plan who elected the new GMEBS Plan) as applicable and as
reflected in the GMEBS Adoption Agreement and this Addendum; and 2) if
the Employee had previously participated under the 1977 Plan, his credited
service under the 1977 Plan prior to January 1, 2008, if any (excluding any
periods for which the Employee did not make employee contributions and
provided the Employee had not previously withdrawn or received a
distribution of his employee contributions) will be taken into account under
this Plan for purposes of determining the amount of any retirement or death
benefit payable to or on behalf of the Employee under this Plan and for
purposes of meeting this Plan's minimum service requirements for vesting
and eligibility for retirement or death benefits.
Effect of Old Plan Election by GMEBS Participants (Class 2 and Class 4). If
pursuant to the administrative procedures specified in Sections 7.11 -7.15 of
the Addendum to the Adoption Agreement that became effective January 1,
2008 (Ordinance No. 7017) an Employee Participant under the GMEBS Plan
as of October 1, 2007 elected not to waive benefits payable under the terms of
the former GMEBS Plan in favor of benefits payable under the terms of the
GMEBS Plan that became effective January 1, 2008: 1) he became subject to
the terms of the GMEBS Master Plan, the Adoption Agreement and this
General Addendum generally, and the plan benefits and features that apply
in particular to Class 2 Employees (public safety Employees formerly known
as "Class 1" Employees under old GMEBS Plan who did not elect the new
GMEBS Plan) or Class 4 Employees (non - public safety Employees formerly
known as "Class 2" Participants under the old GMEBS Plan who did not
elect the new GMEBS Plan), as applicable and as reflected in the GMEBS
Adoption Agreement and this General Addendum; and 2) if he had
previously participated under the 1977 Plan prior to January 1, 2008, then
his eligibility for early or normal retirement benefits and the amount of any
retirement benefit payable with respect to his period of participation under
the 1977 Plan (including cost -of- living adjustments), if any, shall be
determined based upon the benefit formula and the other terms of the 1977
plan in effect as of the date that he ceased participating in said plan as an
active employee, and his final average earnings as of said date.
(n) Effect of No Election (Default Election) - Participation in New GMEBS DB
Plan. If a 1998 DC Plan participant, a 1977 DB Plan participant, or a
GMEBS Plan participant was eligible to make an election under the
applicable terms of Ordinance No. 7017 but he failed or refused to submit a
signed election form within the prescribed election period pursuant to any
procedures established by the Interim Human Resources Director, the
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
- 14—
•
•
•
Employee was deemed to have irrevocably elected to participate under the
terms of the new GMEBS DB Plan and he became subject to the provisions
of the Adoption Agreement and this General Addendum that apply to Class
1, Class 3, Class 5, or Class 7 Participants, as applicable.
(o) Employees on Leave of Absence; Election. If an Employee participant in the
1998 DC Plan, the 1977 DB Plan, or the GMEBS Plan would otherwise have
been eligible to make an election under the applicable terms of Ordinance
No. 7017 but was on an approved leave of absence that included any part of
the election period (and assuming the Employee did not submit an election
form before the end of the election period), the Employee will be given the
opportunity to make the irrevocable election pursuant to the procedures
specified in Sections 7.11 -7.14 of the Addendum to the Adoption Agreement
that became effective January 1, 2008 (Ordinance No. 7017), if and when the
Employee returns to active employment with Augusta immediately upon
expiration of said leave of absence. Said election must be submitted by the
Employee to the Interim Human Resources Director within one (1) calendar
month of the Employee's return to active employment. If the Employee does
not return to active employment with Augusta immediately following
expiration of the leave of absence, the Employee will be deemed to have
irrevocably elected not to participate under the terms of the new GMEBS DB
Plan. If the Employee returns to active employment as an Eligible Regular
Employee immediately upon expiration of the leave of absence but does not
make an election within one (1) calendar month after return to active
employment, the Employee will be deemed to have elected the new GMEBS
Plan and will be subject to the terms of the Plan applicable to Class 1, Class
3, Class 5 or Class 7, as applicable.
(p)
(q)
Eligible Regular Employees Initially Employed or Reemployed Between
October 1, 2007 & January 1, 2008. If an Eligible Regular Employee was
initially employed or reemployed after October 1, 2007 and before January
1, 2008, he or she was not eligible to participate in the 1998 DC Plan.
Assuming he or she met the applicable requirements for participation in this
Plan, the Employee commenced participation in this Plan as of January 1,
2008, and the Employee was required to begin making employee
contributions to the Plan as of January 1, 2008. However, assuming the
other terms and conditions of the Plan were satisfied, Eligible Regular
Employees who were initially employed or reemployed after October 1, 2007
and before January 1, 2008 and who became Participants in this Plan
received credit for Service between October 1, 2007 and January 1, 2008,
notwithstanding the fact that their employee contributions did not commence
until January 1, 2008.
Reemployment of Former 1998 DC Plan Participants after October 1, 2007
(No Election Opportunity); Participation in GMEBS DB Plan; Prior Service
Credit Purchase. This subsection will not apply to any Employee who had an
opportunity to make an election under subsection 14(d) (active employee
election) or subsection 14(0) (election by employees on leave of absence).
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
- 15 —
Except as otherwise provided in subsection 14(gg)(iii), if a former 1998 DC
Plan Participant is reemployed as an Eligible Regular Employee after
October 1, 2007, he will be governed by the terms of the new GMEBS DB
Plan applicable to Class 9 Employees. Said Eligible Regular Employees will
not receive any credit under this Plan with respect to their Service with
Augusta prior to their reemployment date for any purpose (vesting, benefit
eligibility, or benefit computation) under this Plan, except as otherwise
permitted under the Service Credit Purchase Addendum.
(r) Reemployment of DC Plan Participants Who Elect DC Plan; Mandatory
Participation in GMEBS Plan. If a 1998 DC Plan Participant elected to
remain in the DC Plan in accordance with subsection 14(d) (active
employees) or subsection 14(o) (election by employees on leave of absence)
above and is later terminated and reemployed by Augusta as an Eligible
Employee, he will be governed by the terms of the new GMEBS Plan
applicable to Class 9 Employees, notwithstanding his prior election. Said
Eligible Employees will not receive any credit under this Plan with respect to
their Service with Augusta prior to their reemployment date for any purpose
(vesting, benefit eligibility, or benefit computation) under this Plan, except as
otherwise permitted under the Service Credit Purchase Addendum.
(s) Reemployment of Former 1977 DB Plan Participants after October 1, 2007
(No Election Opportunity); Mandatory Participation in GMEBS DB Plan.
This subsection will not apply to any Employee who had an opportunity to
make an election under subsection 14(h) (active employee election) or
subsection 14(o) (election by employees on leave of absence). Except as
otherwise provided in subsection 14(gg)(iii), if a former 1977 DB Plan
Participant is reemployed as an Eligible Regular Employee after October 1,
2007, he will be governed by the terms of the new GMEBS DB Plan
applicable to Class 9 Employees. Said Employees will not receive any credit
under this Plan with respect to their Service with Augusta prior to their
reemployment date for any purpose (vesting, benefit eligibility, or benefit
computation), if they have previously withdrawn their employee
contributions to the 1977 DB Plan, except as otherwise permitted under the
Service Credit Purchase Addendum. If returning Eligible Regular
Employees have not withdrawn or received a refund of employee
contributions made to the 1977 DB Plan prior to their reemployment, they
will receive credit under this Plan for credited service under the 1977 Plan
relating to said contributions prior to reemployment (the amount of such
credited service will be determined based on the records of the Employer as
reported to GMEBS), excluding any periods during which the Employee did
not make required contributions to the 1977 Plan, provided they satisfy this
Plan's break in service rules, if applicable. Such credit will be taken into
account under this Plan for purposes of determining the amount of any
retirement or death benefit payable to or on behalf of the Eligible Employee
under this Plan and for purposes of meeting the minimum service
requirements for vesting and eligibility for retirement or death benefits,
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
- 16—
•
•
unless the Employee later withdraws his employee contributions (see
subsection 14(ee) below).
(t) Reemployment of 1977 Plan Participants Who Elect Old 1977 Plan. If a 1977
DB Plan Participant elected the old 1977 DB Plan in accordance with
subsection 14(h) (active employees) or subsection 14(o) (leave of absence)
above and is later terminated and reemployed by Augusta as an Eligible
Regular Employee, he will be governed by the terms of the new GMEBS Plan
applicable to Class 9 Employees, notwithstanding his prior election. This
rule will also apply to a DC Plan participant or GMEBS Plan participant
who made an old plan election (see subsection 14(g) and subsection 14(m)) if
he had credited service prior to January 1, 2008 under the 1977 Plan, for
purposes of determining eligibility and entitlement to benefits, if any, with
respect to said prior credited service under the 1977 Plan.
(u) Reemployment of Former GMEBS Participants after October 1, 2007 (No
Election Opportunity); Mandatory Participation in New GMEBS DB Plan.
This subsection will not apply to any Employee who had an opportunity to
make an election under subsection 14(k) (active employee election) or
subsection 14(o) (election by employees on leave of absence). Except as
otherwise provided in subsection 14(gg)(iii), if a former GMEBS Plan
Participant is reemployed as an Eligible Regular Employee after October 1,
2007, he will be governed by the terms of the new GMEBS DB Plan
applicable to Class 9 Employees. If returning Eligible Regular Employees
have not withdrawn or received a refund of their employee contributions
made to the GMEBS Plan prior to their reemployment, they will receive
credit under this Plan for Credited Service under the GMEBS Plan prior to
reemployment, subject to subsection 14(x) below (concerning credit for
Service prior to March 1, 1987) and subject to this Plan's break in service
rules, if applicable. If they have withdrawn their contributions prior to
reemployment, they will be governed by the provisions of the Master Plan
concerning the effect of withdrawal.
(v) Reemployment of GMEBS Participants who Elect Old GMEBS Plan. If a
GMEBS Plan Participant elected the old GMEBS Plan in accordance with
subsection 14(k) (active employee election) or subsection 14(o) (election by
employees on leave of absence) above and is later terminated and reemployed
by Augusta as an Eligible Regular Employee, he will be governed by the
terms of the new GMEBS Plan applicable to Class 9 Employees,
notwithstanding his prior election. This rule will also apply to a DC Plan
participant or 1977 Plan participant who made an old plan election (see
subsection 14(g) and subsection 14(j)) if he had credited service prior to
January 1, 2008 under the old GMEBS Plan, for purposes of determining
eligibility and entitlement to benefits, if any, with respect to said prior
credited service under the old GMEBS Plan.
(w) Reemployment of Former Participants under 1945, 1949 Plans. If a former
Participant in the Augusta - Richmond County 1945 Pension Plan or the
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
-17—
Augusta - Richmond County 1949 Pension Plan (not including those who
became participants in the 1977 Plan prior to January 1, 2008) is reemployed
by Augusta as an Eligible Regular Employee after October 1, 2007, be will be
governed by the terms of the new GMEBS Plan applicable to Class 9
Employees. His service with Augusta prior to his reemployment date will not
be taken into account for any purpose (vesting, benefit eligibility, or benefit
computation) under the terms of this Plan, except as otherwise permitted in
the Service Credit Purchase Addendum.
(x) Classes 1 -4; No Credit for Service Prior to Original Effective Date of
GMEBS Plan. With respect to Participants in Classes 1, 2, 3, and 4, Credited
Service does not include Service with Augusta prior to March 1, 1987 (the
original effective date of the GMEBS Plan), except to the extent that credit
for such service is purchased in accordance with and subject to the Service
Credit Purchase Addendum. However, Service by such Participants prior to
March 1, 1987 will be taken into account in determining whether the
Participant has met the minimum service requirements for vesting and
benefit eligibility under this Plan. This provision will apply regardless of the
Participant's reemployment after January 1, 2008.
(y)
Class 8 Employees; No Credit for Service Prior to January 1, 2008. With
respect to Class 8 Employees as described in subsection 14(a), Service prior
to January 1, 2008 will not be taken into account for any purpose under this
Plan, except to the extent that credit for such Service is purchased in
accordance with and subject to the Service Credit Purchase Addendum.
(z) Disability Retirement Benefits. Disability retirement benefits under this Plan
shall be administered in accordance with the provisions of the GMEBS
Master Plan, except as otherwise provided in this subsection 14(z) or
subsection 14(aa) below (concerning disability benefits for Class 6
Participants). If a Participant (other than a Class 6 Participant) is not
disabled in accordance with the GMEBS Master Plan Section 2.21(a)
definition solely because he lacks the quarters of Social Security coverage
required to receive disability insurance benefits under the Federal Social
Security Act, as amended, Disability shall mean a physical or mental
disability of a Participant if the Pension Committee shall determine that he is
permanently incapacitated on the basis of a certificate signed by a physician
selected and engaged by the Participant, stating that: (1) such Participant is
permanently and totally physically or mentally disabled by anatomical,
physiological, or psychological abnormalities that are demonstrable by
medically acceptable clinical and laboratory diagnostic techniques, so as to
be prevented from engaging in any occupation or employment whatsoever
for remuneration or profit; (2) such disability commenced on a specified date
during the period of the Participant's employment with Augusta, Georgia;
(3) such disability will be permanent and continuous during the remainder of
the Participant's life; and (4) such disability was not self - inflicted, incurred in
military service, incurred in the commission of a felonious enterprise, or the
result of the use of narcotics or drugs or habitual use of alcohol. The Pension
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
- 18 —
Committee shall have the right to require the Participant who applies for
Disability Retirement or who is receiving Disability Retirement benefits to be
examined by a physician chosen by the Pension Committee to confirm the
Participant's initial disability or continuation of disability. Should the
physician chosen by the Pension Committee not confirm the Participant's
initial disability or continuation of disability, then such physician and the
physician selected by the Participant shall select a third physician by mutual
agreement, who shall determine finally and unalterably whether the
Participant is disabled as defined herein.
(aa) Certain Old 1977 DB Plan Provisions Preserved for Class 6 Participants.
(i)
Class 6 Interest on Employee Contributions. Notwithstanding any
provision of this Plan to the contrary, for Class 6 Participants interest
shall be credited on Employee Contributions from the January 1 next
following the date of which such Contributions are made until the
earlier of: (1) the date of termination of employment for any reason;
and (2) the Participant's Normal Retirement Date, with such interest
compounded annually at the rate of 5% per annum.
(ii) Class 6 Early Retirement Factors. Notwithstanding any provision of
this Plan to the contrary, for Class 6 Participants, the monthly Early
Retirement benefit shall be computed in the same manner as the
Normal Retirement benefit, but the benefit shall be reduced by 5/12%
for each complete month by which the Early Retirement Date of a
Participate precedes his Normal Retirement Date or Alternative
Normal Retirement Date (age 65, or age 62 if the Participant has 25
years of Credited Service).
(iii) Class 6 Disability Retirement.
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
(A) Employment- Connected Disability. A Class 6 Participant may
retire with a Disability Retirement benefit under the Plan if he
becomes totally and permanently disabled with a "Disability"
as defined in GMEBS Master Plan Section 2.21 (based on
Social Security disability determination, except where
Participant has insufficient quarters of Social Security
coverage) from a cause arising out of and in the course of
employment, as determined by the Pension Committee. If
Master Plan Section 2.21(b) applies (due to insufficient
quarters of Social Security coverage) and the physician chosen
by the Pension Committee does not confirm the Participant's
disability, then such physician and the physician chosen by the
Participant shall select a third physician by mutual agreement,
who shall determine finally whether the Participant is disabled
within the definition of GMEBS Master Plan Section 2.21(b).
Payment of the Disability Retirement benefit to Class 6
Participants shall be governed by the following provisions of
- 19 —
S this subsection 14(aa)(iii), notwithstanding any other provision
of the GMEBS Master Plan to the contrary.
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
(B) Class 6 Non - Admissible Causes of Disability. Notwithstanding
anything in this subsection 14(aa)(iii) or the Master Plan to the
contrary, a Class 6 Participant shall not be entitled to receive
any Disability Retirement benefit if the Pension Committee
determines that the Participant's disability is a result of any of
the following: excessive and habitual use by the Participant of
drugs or narcotics; injury or disease sustained by the
Participant while willfully participating in acts of violence,
riots, civil insurrections, or while committing a criminal
offense; injury or disease sustained by the Participant while
serving in any armed forces or as the result of warfare; injury
or disease sustained by the Participant after his employment
has terminated; injury or disease sustained by the Participant
while working for anyone other than Augusta and directly
attributable to such employment; or intentional, self - inflicted
injury.
(C) Class 6 - Continuing Examination. Once each year after
commencement of Disability Retirement benefits, the Pension
Committee may require proof of the continued total and
permanent disability of the Class 6 Participant. The decision
of the Pension Committee on all such questions shall be final
and binding.
(D)
Class 6 - Amount of Employment- Connected Disability
Retirement Benefit. The monthly retirement benefit payable
to a Class 6 Participant on his Disability Retirement Date, if he
is entitled to an employment- connected disability benefit under
subsection 14(aa)(iii)(A) above, shall be 1/12 of fifty- percent
(50 %) of his Final Average Earnings determined as of his
Disability Retirement Date, reduced by any monthly payment
received under worker's compensation law (as determined by
the Human Resources Director and reported to GMEBS), or if
worker's compensation is paid in a lump -sum payment, the
monthly payments otherwise payable to the Participant under
the Plan shall be reduced by an amount which equitably
adjusts, as determined by the .Human Resources Director, for
the amount to which the Participant is eligible under worker's
compensation.
(E) Class 6 - Payment of Employment- Connected Disability
Retirement Benefit. The retirement benefit to which a Class 6
Participant is entitled in the event of Disability shall be payable
on the first day of each month. The first payment shall be
made on the Participant's Disability Retirement Date and the
last payment shall be the payment due next preceding the
- 20 —
(H)
(I)
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
earlier of (1) the Participant's date of death, or (2) the cessation
of his Disability prior to his Normal Retirement Date. The
Disability Retirement Date shall be the first day of the month
which coincides with or next follows the date the Pension
Committee approves payment of the disability benefit.
(F) Class 6 - Termination of Disability Retirement Benefit. If a
Class 6 Participant's Disability ceases prior to his Normal
Retirement Date and he does not become reemployed by
Augusta within 60 days after his recovery, all rights of the
Participant in and to a Disability Retirement benefit shall cease
and he shall be entitled to: (1) an Early Retirement benefit, if
he had satisfied the requirements for early retirement as of the
date of inception of his Total and Permanent Disability, or (2) a
Normal Retirement benefit, if he has satisfied the requirements
for Normal Retirement. Either such benefit shall be based on
his Credited Service and Final Average Earnings as of the date
of inception of the Participant's Disability. If the Participant's
Disability ceases and he becomes reemployed by Augusta, his
employment will be deemed to have been continuous, provided
that the period beginning with the first month for which he
received a disability payment and ending with the date of
reemployment will not be considered as Credited Service for
purposes of the Plan.
(G) Class 6 Non - Employment Connected Disability; 5 Year
Eligibility Requirement. If a Class 6 Participant becomes
Disabled from a cause: (1) not arising out of and in the course
of his employment and (2) other than specified in subsection
14(aa)(iii)(B) above (concerning non - admissible causes of
disability) after the completion of five (5) or more years of
Credited Service, he shall be entitled to a Disability Retirement
benefit in accordance with subsection 14(aa)(iii)(H) -(J) below.
Class 6 Retirement Date, Proof of Non - Employment Connected
Disability. The Disability Retirement Date of a Participant
shall be the date defined in subsection 14(aa)(iii)(E) above.
Proof of Disability shall be the same as that required in
subsection 14(aa)(iii)(A) -(C) above.
Class 6 Amount of Non - Employment Connected Disability
Benefit; Accrued Benefit. In the case of a non - employment
connected Disability, the monthly retirement benefit payable to
a Participant on his Disability Retirement Date shall be an
amount equal to 1/12 of 1% of his Final Average Earnings
multiplied by his Credited Service up to his Disability
Retirement Date, reduced by any monthly payment received
under worker's compensation law (as determined by the
Human Resources Director and reported to GMEBS), or if
- 21 —
•
•
(J)
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
worker's compensation is paid in a lump -sum payment, the
monthly payments otherwise payable to the Participant under
the Plan shall be reduced by an amount which equitably
adjusts, as determined by the Human Resources Director, for
the amount to which the Participant is eligible under worker's
compensation.
Class 6 Payment of Non - Employment Connected Disability
Benefit; Termination of Benefits. The provisions of subsection
14(aa)(iii)(E) and subsection 14(aa)(iii)(F) above concerning
payment and termination of Disability Retirement Benefits
shall also apply to Class 6 Participants who are receiving non -
employment connected Disability Retirement benefits.
(iv) Class 6 Pre - Retirement Death Benefits (In- Service Death Benefits
Only; No Terminated Vested Death Benefit).
(A) Class 6 Duty- Connected Death; 25% of Final Average
Earnings Payable to Spouse/Minor Children. If the
employment of a Class 6 Participant is terminated by reason of
his death while actively performing the prescribed duties of his
job and not resulting from any misconduct or willful
negligence of the Participant, as determined by the Pension
Committee, the surviving Spouse as defined in GMEBS Master
Plan Section 2.59 (if any) of such deceased Participant will
receive a monthly benefit equal to 1/12 of twenty -five (25 %) of
the Participant's Final Average Earnings as of the date of
death. Such benefit will commence on the first day of the
month following the last payment of: any monthly benefits
provided under state worker's compensation law (as
determined by the Human Resources Director and reported to
GMEBS) or if worker's compensation benefits are paid in
lump -sum amount, the last monthly payment which would
otherwise be payable if such lamp -sum payment is equitably
adjusted on the basis of the monthly amount to which the
Participant would be entitled under state worker's
compensation law, as determined by the Human Resources
Director and reported to GMEBS. The monthly benefit shall
be payable until the Spouse of the deceased Participant dies or
remarries; provided however, that in the event of the Spouse's
death while a Minor Child or Minor Children (as defined in
GMEBS Master Plan Section 2.10, except that the age of
majority shall be 18) of the deceased Participant survive, the
monthly benefit otherwise payable to the Spouse shall continue
for the benefit of such Minor Child or Children, in equal
monthly shares, until the earlier of marriage, death, or
attainment of age 18 as to each child. If the Class 6 Participant
does not leave a surviving Spouse but leaves a surviving Minor
Child or Minor Children, the legal guardian of such child(ren)
- 22 —
(B)
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
shall receive on their behalf the benefit that would have
otherwise been payable to the Spouse, divided into equal
monthly shares for the surviving Minor Child(ren), and
payable until the earlier of marriage, death, or attainment of
age 18 as to each child. If no Spouse or Minor Child(ren)
survive the deceased Participant, a lump -sum cash amount
equal to the total amount of the Participant's employee
contributions with interest shall be paid to the Participant's
Pre - Retirement Beneficiary as determined under the GMEBS
Master Plan, or if there is no Pre - Retirement Beneficiary, to
the Participant's estate.
Class 6 Non -Duty Connected Death (Return of Contributions
Only). If the employment of a Class 6 Participant is
terminated by reason of his death prior to his Normal
Retirement Date and such death was not the result of the
Participant actively performing the prescribed duties of his
job, as determined by the Pension Committee, there shall be
payable to his surviving Spouse (as defined in GMEBS Master
Plan Section 2.59) or, if no Spouse survives the Participant,
then to his Pre - Retirement Beneficiary (as determined under
the GMEBS Master Plan), a lump -sum cash amount equal to
the total amount of the Participant's employee contributions
with interest. If there is no surviving Spouse or Pre -
Retirement Beneficiary, said amount will be paid to the
Participant's estate.
- 23 —
(v) Grandfathered 415 Limit for Class 5 and Class 6. In accordance with
Internal Revenue Code Section 415(b)(10), notwithstanding any
provision of the Master Plan to the contrary, with respect to Class 5
and Class 6 Participants who became participants in the 1977 DB
Plan before January 1, 1990, the maximum annual benefit payable in
accordance with the IRC 415 benefit limitations contained in the
Master Plan shall not be less than such Participant's Accrued Benefit
under this Plan (as determined without regard to any plan
amendment made after October 14, 1987).
(vi) Vesting for Class 5 and Class 6 Department Heads. A Class 5 or Class
6 Participant who was appointed a department head by Richmond
County prior to January 1, 2008 shall be 100% vested,
notwithstanding the 5 -year vesting requirement otherwise applicable
under the Plan.
(bb) Benefits Payable As of 1st of the Month for the Month. Notwithstanding any
provision of the GMEBS Master Plan to the contrary, retirement benefits
(including Normal Retirement, Early Retirement, and Disability Retirement
Benefits) and death benefits shall be payable on the first day of the month for
the month (rather than the last day).
(cc) COLA Applied as of February 1. Notwithstanding any provision of the
GMEBS Master Plan to the contrary, the annual cost -of- living adjustment
provided for in the Adoption Agreement will be applied as of February 1
each year (with February payment). The cost -of- living adjustment will
otherwise be determined in accordance with the GMEBS Master Plan and
the COLA provisions of the Adoption Agreement.
(dd) Interest on Employee Contributions. Except as otherwise provided in the
Adoption Agreement and this General Addendum with respect to
Participants in Classes 2, 4, and 6, employee contributions shall be credited
with interest at the rate of 5% per annum, compounded annually. (See
Adoption Agreement Section 19 and General Addendum subsection 14
(aa)(i)).
(ee) Effect of Withdrawal of Employee Contributions. If a Participant terminates
Service with Augusta after January 1, 2008 and he withdraws or receives a
refund of his employee contributions to this Plan following said termination
(including employer and employee contributions transferred to this Plan
from the DC plan, any employee contributions made to the 1977 Plan, any
employee contributions made under the old or new GMEBS Plan, and /or any
contributions made to purchase prior service credit), then the Participant
will forfeit for himself, his heirs and assigns all of his rights, title, and interest
in the Plan in accordance with Master Plan Section 13.03, except as otherwise
provided in this Section with respect to repayment in the event of
reemployment. A partial withdrawal or refund of employee contributions is
not permitted. A Participant may not withdraw his employee contributions
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
- 24 —
(ff)
as long as he remains in Service and he may not borrow against his employee
contributions at any time. Notwithstanding any provision of the Master Plan
to the contrary, if a Participant withdraws his employee contributions after
January 1, 2008, and if he later returns to Service with Augusta as an
Eligible Employee, then any service credit or benefit amount forfeited by
virtue of the withdrawal or refund may be reinstated, provided that within
six (6) months after his reemployment date (or prior to his termination date
following reemployment, if earlier), he repays to this Plan in a lump sum any
and all amounts previously withdrawn or refunded, plus interest calculated
at the rate of 8% per annum. Partial repayment is not permitted. In no
event will the time the Participant was absent be taken into account in
calculating the amount of any benefit payable under this Plan. Said
Participants will also be required to satisfy the break in service requirements
of Section 4.06 of the Master Plan, if applicable.
Public Safety Retirement by Age 70. Public Safety Personnel (as defined in
subsection 14(a)) shall not delay their Retirement beyond age seventy (70).
(gg) Treatment of Classes for Whom Participation is Optional.
(i
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
Initially Employed After October 1, 2007. This provision applies only
with respect to the classes for whom participation in this Plan is
optional (see subsection 14(b) above). If an Eligible Employee is
initially employed or initially takes office with Augusta (with no prior
service for Augusta -) as an elected or appointed member of the
Governing Authority (member of the Augusta, Georgia Commission
Council), Administrator, Assistant Administrator, Department
Director, Assistant Department Director, or Law Department General
Counsel or Law Department staff attorney after October 1, 2007, he
must make an irrevocable election whether to participate in this Plan
or the DC Plan, (as amended and restated effective January 1, 2008
and subject to any future amendments) in accordance with the 30 -day
election time limit and other procedures referred to in subsection
14(b) above. If he fails.or refuses to make an election within the 30-
day time limit, it will be deemed an irrevocable election to participate
in this Plan (not the DC Plan). If the Employee was initially employed
between October 1, 2007 and January 1, 2008 and he elected
(affirmatively or by default) in accordance with the election
procedures specified in Sections 7.11 -7.15 of the Addendum to the
Adoption Agreement that became effective January 1, 2008
(Ordinance No. 7017) to participate in this Plan rather than the DC
Plan, the provisions of subsection 14(p) (concerning commencement of
employee contributions and credit for service prior to January 1,
2008) will apply. If he elected pursuant to said election procedures
(affirmatively or by default) to participate in this Plan rather than the
DC Plan, then in the event he terminates or leaves office and later
returns to Service with Augusta as an Eligible Employee, he will be
required to participate in this Plan upon reemployment, and will be
- 25 —
subject to the break in service provisions (if applicable) and other
applicable provisions of this Plan concerning reemployment. If he
elected to participate in the DC Plan (rather than this Plan) as
provided in the Adoption Agreement, then in the event he terminates
or leaves office and later returns to Service with Augusta as an
Eligible Employee, he will not be able to make a plan election upon his
reemployment and he will be required to participate in this Plan,
notwithstanding his prior election to participate in the DC Plan. In
such case, he will not receive any credit under this Plan with respect
to Service with Augusta, prior to said reemployment date for any
purpose (vesting, benefit eligibility, or benefit computation), except as
otherwise permitted under the Service Credit Purchase Addendum.
(ii) Employed as of October 1, 2007; Return to Service After Election.
Elected or appointed members of the Governing Authority, the
Administrator, Assistant Administrators, Department Directors,
Assistant Department Directors, Law Department General Counsel
and Law Department staff attorneys who were employed or in office
as of October 1, 2007 will be bound by their plan election made
(affirmatively or by default) in accordance with and subject to the
procedures specified in Sections 7.11 -7.15 of the Addendum to the
Adoption Agreement that became effective January 1, 2008
(Ordinance No. 7017) (unless they are a member of Class 8 in which
case participation under the new GMEBS Plan will be mandatory).
However, in the event they terminate or leave office after January 1,
2008 and later return to Service with Augusta as an Eligible
Employee, they will not be permitted to make a plan election upon
return to Service and will be required to participate under the terms
of the new GMEBS Plan applicable to Class 9 Employees,
notwithstanding any prior election, in the same manner and subject to
the same conditions as other Employees who made an election
(affirmatively or by default) during the established election period
(see subsection 14(r), subsection 14(t), or subsection 14(v), as
applicable).
(iii) Reemployed After October 1, 2007; No Election Opportunity. Subject
to any applicable election limitations under the Internal Revenue
Code, if a former Employee who was not employed as of October 1,
2007 (not including those who had an election opportunity) returns to
Service with Augusta after October 1, 2007 as an Eligible Employee
and as an elected or appointed member of the Governing Authority,
Administrator, Assistant Administrator, Department Director,
Assistant Department Director, Law Department General Counsel or
Law Department staff attorney, he must make an irrevocable election
within the 30 -day election period referred to in subsection 14(b) to
participate in accordance with and subject to either: 1) the terms of
the new GMEBS DB Plan applicable to Class 9; or 2) the DC Plan as
amended and restated effective January 1, 2008, subject to any future
plan amendments. Said returning Employees who last participated
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
- 26 —
(hh) Treatment of Tax Commissioner's Office Employees. Employees initially
employed or rehired after October 1, 2007 as employees of the Augusta -
Richmond County Tax Commissioner's office will be eligible to participate in
this Plan only if they are considered "Regular Employees" as defined in the
Augusta - Richmond County Personnel Policies, and only if they meet the
GMEBS Master Plan definition of "Employee" and this Plan's definition of
"Eligible Employee." If the Employee satisfies these requirements,
participation in this Plan will be mandatory and the Employee will
commence participation in this Plan after he satisfies the 30 -day waiting
period in accordance with subsection 3(b) above. On and after November 1,
2011, Employees of the Tax Commissioner's office who meet the minimum
service requirements for participation under this Plan and who as of October
31, 2011 are not participating in any Augusta retirement plan that is wholly
or partially funded by Employer contributions will be required to participate
in this Plan, notwithstanding whether such Employees also participate in the
Augusta GMEBS Plan I General Addendum
(Restated November I, 2011)
under the 1977 DB Plan may elect to participate under the terms of
the new GMEBS DB Plan applicable to Class 6, or the terms of the
new GMEBS DB Plan applicable to Class 9, or the DC Plan. If the
Employee fails or refuses to make an election within the 30 -day time
limit, it will be deemed an irrevocable election to participate under the
terms of the new GMEBS DB Plan applicable to Class 9. If the
Employee elects (affirmatively or by default) to participate in the new
GMEBS DB Plan, he will not receive any credit under this Plan with
respect to Service with Augusta prior to said return to Service for any
purpose (vesting, benefit eligibility, or benefit computation), except as
otherwise permitted under the Service Credit Purchase Addendum.
However, the provisions of subsection 14(s) concerning the effect of
prior withdrawal or refund of employee contributions shall apply to
returning former 1977 DB Plan participants who participate in the
new GMEBS DB Plan upon return to Service. The provisions of
subsection 14(u) concerning the effect of withdrawal or refund of
employee contributions shall apply to returning former GMEBS Plan
participants who participate in the new GMEBS DB Plan with respect
to employee contributions withdrawn before said return. In the event
the Employee terminates or leaves office after making said election,
and he later returns to Service with Augusta as an Eligible Employee,
he will not be able to make a plan election upon his reemployment and
he will be required to participate under the terms of the new GMEBS
Plan applicable to Class 9 Employees, notwithstanding any prior
election. He will not receive any credit under this Plan with respect to
Service while a participant under the DC Plan prior to said
reemployment date for any purpose (vesting, benefit eligibility, or
benefit computation), except as otherwise permitted under the Service
Credit Purchase Addendum and the provisions of subsection 14(ee)
(concerning the effect of withdrawal of employee contributions) will
apply with respect to those who have previously elected to participate
in the new GMEBS DB Plan.
- 27 —
Employees Retirement System of Georgia (ERS). An Employee of the Tax
Commissioner's office who: 1) did not participate in any other Augusta
retirement plan that is wholly or partially funded by Employer contributions
on October 31, 2011, and 2) becomes a Participant in this Plan on November
1, 2011, shall receive credit for the purpose of vesting only under this Plan
for any full -time (20 hours per week, regularly scheduled) service with the
Tax Commissioner's Office on or after January 1, 2008 during which such
employee did not participate in any other Augusta retirement plan that is
wholly or partially funded by the Employer. Former Employees of the
Augusta - Richmond County Tax Commissioner's office who are rehired after
October 1, 2007 into a department other than Augusta - Richmond County
Tax Commissioner's office shall be governed by the terms of the new
GMEBS DB Plan applicable to Class 9 Employees.
(ii) Plan Year Change for GMEBS Plan. Notwithstanding the Plan Year election
in the Adoption Agreement, prior to January 1, 2008, the Plan Year for the
Employer's GMEBS defined benefit plan was (1) the twelve (12) month
periods beginning each March 1 through the following February 29, ending
with February 28, 2007; and (2) the short Plan Year starting on March 1,
2007 and ending on December 31, 2007.
(1J)
IRC 401(a)(17) Limit Applied to Short Plan Year. For purposes of applying
the IRC 401(a)(17) limit on annual Earnings that can be taken into account
under the GMEBS defined benefit Plan (the Plan), annual earnings means
Earnings during the Plan Year or such other consecutive twelve (12) month
period over which Earnings are otherwise determined under the Plan (the
determination period). The 401(a)(17) cost -of- living adjustment for a
calendar year applies to annual earnings for the determination period that
begins with or within such a calendar year. For the short Plan Year
applicable to the Plan, the annual earnings limit is an amount equal to the
otherwise applicable earnings limit, multiplied by a fraction, the numerator
of which is the number of months in the short Plan Year, and the
denominator of which is twelve (12).
(kk) Amendment with Respect to 1977 DB Plan Provisions. Notwithstanding
Master Plan Article XVIII, with respect to provisions of the Plan relating to
the merged 1977 DB Plan, effective on an after January 1, 2008, the
Employer shall have the right at any time to amend the Plan, subject to
approval of such amendment by the GMEBS Board; provided, however, that
no such amendment shall authorize or permit any part of the Trust Fund to
be diverted to purposes other than the exclusive benefit of Participants and
their beneficiaries; and further provided, that no amendment shall have the
effect of revesting in the Employer any portion of the Trust Fund expect such
amounts which remain in Fund after termination of the Plan and after all
liabilities under the Plan have been satisfied.
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
- 28 —
•
•
(11) Immediate Vesting for Senior Executive Service (SES) Participants;
Additional Service Credit for SES Participants Terminated Due to Reduction
in Force.
Immediate Vesting for Senior Executive Service (SES) Participants.
Notwithstanding any provision in the Adoption Agreement or this
General Addendum to the contrary, Participants in this Plan who
hold a senior executive service position listed in subsection 14(Il)(iii)
below on or after January 1, 2009 and before April 1, 2011 will be
considered immediately vested in their accrued normal retirement
benefit under this Plan, including any portion thereof that is
attributable to non -SES Credited Service (see also Section 17(A) of the
Adoption Agreement). Effective April 1, 2011, a participant's status
as an SES Participant for purposes of eligibility for immediate vesting
under this provision shall be determined in accordance with the
Augusta, Georgia Personnel Policy and Procedures Manual
notwithstanding the list in Section 14(11)(iii) of this Addendum, below.
If an individual holds an SES position but is not a Participant in this
Plan, this subsection shall not apply.
(ii) Additional Service Credit for Certain SES Participants Involuntarily
Terminated on March 1, 2009. Notwithstanding any provision in the
Adoption Agreement or this General Addendum to the contrary and
provided the requirements of this subsection 14(ll)(ii) are satisfied,
Participants in this Plan who were involuntarily terminated from
employment with Augusta on March 1, 2009 due to a layoff or
reduction in force while holding a senior executive service (SES)
position listed in subsection 14(11)(iii) below will be treated as having
an additional five (5) years of Credited Service (in addition to their
actual years of Credited Service) for purposes of computing the
amount of any retirement or pre- retirement death benefit payable to
or on behalf of the Participant under this Plan, and for purposes of
meeting the minimum service requirements for retirement and pre -
retirement death benefit eligibility under this Plan. In order to be
eligible for the additional five (5) years of Credited Service under this
subsection 14(11)(ii), the following requirements must also be satisfied:
(1) The Participant's termination of employment must not be related
to the Participant's conduct, as determined by the Human Resources
Director; (2) the Participant must not return to employment with
Augusta for at least one (1) year following termination of
employment; (3) the Participant must execute any and all waivers
and /or releases required by Augusta in connection with the layoff or
reduction in force; and (4) the Human Resources Director must
provide GMEBS with written certification of the Participant's
eligibility for additional Credited Service under this subsection 14(11).
If an individual is not a Participant in this Plan upon termination of
employment, this subsection shall not apply.
(i)
(iii) Senior Executive Service (SES) Positions.
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
-29—
•
POSITION DEPARTMENT
Director Information Technology
Director Board of Elections
Director Recreation - Administration
Director Human Relations
Director Daniel Field
Director Animal Control
Director Water & Sewer Administration
Director Fac Maintenance - General Government
Chief Appraiser Tax Assessor
Director Transit Operations
Director Public Works - Solid Waste
Director Public Works - Highways and Streets
Warden Richmond County Correctional Institution
Director Human Resources
Director Procurement
Director Building Inspections
Director Emergency Telephone Response
Director Community Development
Fire Chief Fire Department
Director Emergency Management Agency
Director Airport -Bush Field
Deputy Administrator Administrator
Administrator Administrator
General Counsel Law Department
Disadvantaged Business Ent Coordinator Disadvantaged Business Enterprise
Equal Employment Opp Coordinator Equal Employment Opportunity
Clerk of Commission Clerk of Commission
Finance Director Finance Department
(mm) Effect of March 30, 2011 Reorganization Plan, Phase I ( "2011
Reorganization Plan ") and 2011 Reduction in Force Policy ( "2011 RIF
Policy "); Effective Termination Date Under GMEBS Retirement Plan;
Additional Service Credit and Severance Taken Into Account Under
Retirement Plan for GMEBS Retirement Plan Participants Who Execute a
Separation Agreement Pursuant to Reorganization Plan; Extra Five (5)
Years of Service Credit for Said Participants Who Are Senior Executive
Service (SES) Personnel; Service Credit for Unused Sick Leave for SES &
Non -SES Participants Who Execute Separation Agreement and Retire under
Plan Immediately Following Termination Date; Unreduced Normal
Retirement Benefit for SES & Non -SES Participants who Execute Separation
Agreement, Retire Immediately Following Termination Date and Meet "62
& 15" Requirement.
(i)
Presumed Retirement Plan Termination Date for Senior Executive
Service (SES) Participants Who Execute a Separation Agreement.
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
-30—
(ii) Retirement Plan Termination Date for SES Participants Who Do Not
Execute a Separation Agreement. The date of Termination under the
GMEBS Retirement Plan for an SES Participant who is involuntarily
terminated from employment pursuant to the 2011 RIF Policy and
who does not enter into a separation agreement with Augusta,
Georgia shall be the same as the Participant's official date of
separation as stated in the Participant's "Sixty (60) Day Notice
Letter" issued pursuant to the 2011 RIF Policy.
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
Solely for purposes of determining benefits payable under the
GMEBS Retirement Plan as provided in this subsection 14(mm)(i),
the presumed date of Termination under the GMEBS Retirement
Plan for a GMEBS Retirement Plan Participant who is involuntarily
terminated from employment with Augusta, Georgia while holding a
SES position listed in subsection 14(mm)(viii) below (referred to in
this subsection 14(mm) as "SES Participant ") and who enters into a
separation agreement with Augusta pursuant to the 2011 RIF as
described in the 2011 Reorganization Plan approved by the Augusta,
Georgia Commission Council on March 30, 2011, shall be the last day
of the month in which the Participant has exhausted his or her
Severance Pay as determined by Section 500.311 of the Augusta,
Georgia Personnel Policy and Procedures Manual, following the
Participant's official date of separation as stated in the Participant's
"Sixty (60) Day Notice Letter" issued pursuant to the 2011 RIF
Policy. The Participant's Final Average Earnings under the GMEBS
Retirement Plan shall be computed as if the Participant remained
employed up until said presumed date of Termination under the
GMEBS Retirement Plan and as if the Participant received as
Earnings for the period between the Participant's official date of
separation (as stated in the Participant's 60 Day Notice Letter) and
the Participant's presumed date of Termination under the GMEBS
Retirement Plan an amount equal to the Severance Pay paid to the
Participant in accordance with Section 500.311 of Augusta, Georgia's
Personnel Policy and Procedures. In addition, the period between the
Participant's official date of separation and the Participant's
presumed date of Termination under the GMEBS Retirement Plan
shall be treated as Credited Service under the Retirement Plan for
purposes of computing the amount of any benefit payable under the
Plan, for purposes of determining whether the Participant has
satisfied the applicable minimum service requirements for vesting
under the Plan, and for purposes of determining whether the
Participant has satisfied the applicable minimum service
requirements for benefit eligibility under the Plan. (See subsections
14(mm)(v), (vi), and (vii) below for description of additional
Retirement Plan benefits available to SES Participants who are
involuntarily terminated from employment and who enter into a
separation agreement with Augusta, Georgia pursuant to the 2011
RIF Policy).
-31—
(iii) Presumed Retirement Plan Termination Date for Non -SES
Participants Who Execute a Separation Agreement. Solely for
purposes of determining benefits payable under the GMEBS
Retirement Plan as provided in this subsection 14(mm)(iii), the
presumed date of Termination under the GMEBS Retirement Plan
for a GMEBS Retirement Plan Participant who is involuntarily
terminated from employment with Augusta, Georgia while holding a
non -SES position listed in subsection 14(mm)(ix) below ( "Non -SES
Participant ") and who enters into a separation agreement with
Augusta, Georgia pursuant to the 2011 RIF as described in the 2011
Reorganization Plan approved by the Augusta, Georgia Commission
on March 30, 2011, shall be the last day of the month that is one (1)
month after the Participant's official date of separation as stated in
the Participant's "Sixty (60) Day Notice Letter" issued pursuant to
the 2011 RIF Policy. The Participant's Final Average Earnings under
the Retirement Plan shall be computed as if the Participant remained
employed up until said presumed date of Termination under the
GMEBS Retirement Plan and as if the Participant received as
Earnings for the period between the official date of separation and the
Participant's presumed date of Termination under the Retirement
Plan an amount equal to one twelfth (1 /12th) of the Participant's
annual salary. In addition, the period between the Participant's
official date of separation and the Participant's presumed date of
Termination under the GMEBS Retirement Plan shall be treated as
Credited Service under the GMEBS Retirement Plan for purposes of
computing the amount of any benefit payable under the Plan, for
purposes of determining whether the Participant has satisfied the
applicable minimum service requirements for vesting under the Plan,
and for purposes of determining whether the Participant has satisfied
the applicable minimum service requirements for benefit eligibility
under the Plan. (See subsections 14(mm)(vi) and (vii) below for
description of additional Retirement Plan benefits available to Non -
SES Participants who are involuntarily terminated from employment
and who enter into a separation agreement with Augusta, Georgia
pursuant to the 2011 RIF Policy.)
(iv) Retirement Plan Termination Date for Non -SES Participants Who Do
Not Execute a Separation Agreement. The date of Termination under
the Retirement Plan for a Non -SES Participant who is involuntarily
terminated from employment pursuant to the 2011 RIF Policy and
who does not enter into a separation agreement with Augusta,
Georgia shall be the Participant's official date of separation as stated
in the Participant's "Sixty (60) Day Notice Letter" issued pursuant to
the 2011 RIF Policy.
(v) Additional 5 Years of Service Credit for Senior Executive Service
(SES) Participants Who Execute Separation Agreement.
Notwithstanding any provision in the Adoption Agreement or this
General Addendum to the contrary, and provided the requirements of
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
- 32 —
•
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
- 33 —
this subsection 14(mm)(v) are satisfied, a Participant in the GMEBS
Retirement Plan (this Plan) who holds an SES position listed in
subsection 14(mm)(viii) below as of March 30, 2011, who is
involuntarily terminated from employment pursuant to the 2011 RIF
as described in the 2011 Reorganization Plan approved by the
Augusta, Georgia Commission on March 30, 2011 and who enters into
a separation agreement with Augusta, Georgia while holding such
SES position will be treated as having an additional five (5) years of
Credited Service (in addition to his actual years of Credited Service
and any Credited Service granted to the Participant under subsection
14(mm)(i) above for the period between the Participant's official date
of separation and the Participant's presumed date of Termination
under subsection 14(mm)(i), and any Credited Service granted for
unused sick leave under subsection 14(mm)(vi) below). The
additional five (5) years of Credited Service provided for in this
subsection 14(mm)(v) shall not be construed to extend the
Participant's presumed date of Termination under the Retirement
Plan. Said additional five (5) years of Credited Service shall be
counted under the Retirement Plan for purposes of computing the
amount of any benefit payable under the Plan and for purposes of
determining whether the Participant has satisfied the applicable
minimum service requirements for benefit eligibility under the Plan.
In order to be eligible for the additional five (5) years of Credited
Service under this subsection 14(mm)(v), the following requirements
must also be satisfied: (1) the Participant must be involuntarily
separated from employment with Augusta, Georgia in accordance
with the 2011 RIF as described in the 2011 Reorganization Plan; (2)
the Participant must be vested in a normal retirement benefit under
the terms of this Plan as of the date of his or her official separation
from employment with Augusta, Georgia; (3) the Participant must
execute any and all waivers and /or releases required by Augusta,
Georgia in connection with the 2011 RIF Policy; and (4) the Human
Resources Director must provide GMEBS with written certification of
the Participant's eligibility for additional Credited Service under this
subsection 14(mm)(v). If an individual is not a Participant in this
Plan upon termination of employment, this subsection shall not apply.
(vi) Credit for Unused Sick Leave for SES and Non -SES Participants
Who Execute Separation Agreement and Retire Immediately
Following Presumed Retirement Plan Termination Date. A SES or
non -SES Participant identified in subsection 14(mm)(viii) or (ix)
below who (1) is involuntarily terminated from employment with
Augusta, Georgia pursuant to the 2011 RIF as described in the 2011
Reorganization Plan approved by the Augusta, Georgia Commission
on March 30, 2011; (2) enters into a separation agreement with
Augusta, Georgia pursuant to the 2011 RIF Policy; (3) officially
separates from employment with Augusta, Georgia on the
Participant's official date of separation as stated in the Participant's
•
(vii) Unreduced Retirement Benefit for SES and Non -SES Participants
Who Execute Separation Agreement and Retire Immediately
Following Presumed Retirement Plan Termination Date Pursuant to
2011 RIF Policy, Provided They Are at least 62 Years of Age and
Have at least 15 Years of Credited Service with Augusta, Georgia as
of Presumed Retirement Plan Termination Date, A SES or non -SES
Participant identified in subsection 14(mm)(viii) or (ix) below who (1)
enters into a separation agreement pursuant to the 2011 RIF Policy;
(2) terminates employment as a result of the 2011 RIF as described in
the 2011 Reorganization Plan approved by the Augusta, Georgia
Commission on March 30, 2011; (3) is at least 62 years of age and has
at least 15 years of Credited Service with Augusta, Georgia (including
any Credited Service awarded pursuant to subsection 14(mm)(v) or
(vi) above) as of his or her presumed date of Termination under the
Retirement Plan as identified in subsection 14(mm)(i) or (iii) above (as
applicable); (4) submits a completed retirement application form to
GMEBS within 30 days after the Participant's presumed date of
Termination under the Retirement Plan as identified in subsection
14(mm)(i) or (iii) above (as applicable) reflecting as the effective
Retirement Date the first day of the month following the Participant's
presumed date of Termination under the Retirement Plan; and (5)
Retires under the Plan as of said effective Retirement Date, shall
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
"Sixty (60) Day Notice Letter" issued pursuant to the 2011 RIF
Policy; (4) is eligible for Early or Normal Retirement benefits as of the
Participant's presumed date of Termination under the Retirement
Plan as identified in subsection 14(mm)(i) or (iii) above (as
applicable); (5) submits a completed retirement application form to
GMEBS within 30 days after the Participant's presumed date of
Termination under the Retirement Plan as identified in subsection
14(mm)(i) or (iii) above (as applicable) reflecting as the effective
Retirement Date the first day of the month following the Participant's
presumed date of Termination under the Retirement Plan; and (6)
Retires under the Plan as of said effective Retirement Date, shall
receive additional Credited Service in the amount of half of his or her
unused sick leave, if any, up to a maximum of 6 months of additional
Credited Service. The Pension Committee Secretary shall provide
any and all forms requested by GMEBS in order to confirm the
amount of a Participant's unused sick leave that is to count as
Credited Service pursuant to this subsection 14(mm)(vi). Such
Credited Service shall count for purposes of computing the amount of
any retirement benefit payable to or on behalf of the Participant
under this Plan, for purposes of meeting the minimum service
requirements for vesting, and for purposes of meeting the minimum
service requirements for retirement benefit eligibility under this Plan.
The additional Credited Service provided for in this subsection
14(mm)(vi) shall not be construed to extend the Participant's
presumed date of Termination under the Retirement Plan.
-34—
•
•
•
POSITION
Director I
(viii) Senior Executive Service (SES) Positions Affected by 2011 RIF Policy.
(ix)
POSITION
Laborer I
Laborer I
Light Equipment Operator I
Records Clerk II
Administrative Asst. 8HR
Aquatic Mgr Recreation Fac
Assistant Director
Assistant Director
Athletic Supervisor
Construction Clerk I*
Foreman Maintenance Shop Rec
Laborer I
Laborer I
Laborer I
Operations Manager
Operations Manager*
Operations Manager
Operations Manager
Rec Facilities Marketing Mgr
Recreation Foreman
Recreation Specialist I
Recreation Specialist I*
Superintendent II 8HR
Deputy Warden
Land Acquisition Agent I*
WTP Supervisor I*
WTPO Supervisor
Operations Manager*
Operations Manager
Assistant Manager Operations
Assistant Manager Operations
Assistant Manager Operations*
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
receive a normal retirement benefit computed as provided under
Section 6.01 of the Master Plan without actuarial reduction for the
Participant's age. Said monthly benefit shall be based upon the
Participant's Total Credited Service and his Final Average Earnings
as of his presumed date of Termination under the Retirement Plan
(including any additional Credited Service and Earnings taken into
account for SES Participants under subsection 14(mm)(v) or (vi)
above).
DEPARTMENT
Facilities and Maintenance
Non -SES Positions Affected by 2011 RIF Policy.
- 35 —
DEPARTMENT
Facilities and Maintenance
Facilities and Maintenance
Facilities and Maintenance
Facilities and Maintenance
Facilities and Maintenance
Recreation
Facilities and Maintenance
Facilities and Maintenance
Recreation
Facilities and Maintenance
Facilities and Maintenance
Facilities and Maintenance
Facilities and Maintenance
Facilities and Maintenance
Facilities and Maintenance
Facilities and Maintenance
Facilities and Maintenance
Facilities and Maintenance
Recreation
Recreation
Recreation
Recreation
Facilities and Maintenance
Richmond County Correction Institute
Utilities
Utilities
Utilities
Utilities
Utilities
Utilities
Utilities
Utilities
•
•
Assistant Manager Operations Utilities
Superintendent II 8HR* Utilities
Assistant Director* Utilities
*Not a Participant in GMEBS Retirement Plan
(x) Death Prior to Presumed Date of Termination; In Service Death
Benefit. Notwithstanding any provision in the Adoption Agreement
or this General Addendum to the contrary, in the event that a
Participant who is (1) involuntarily terminated from employment with
Augusta, Georgia pursuant to the 2011 RIF as described in the 2011
Reorganization Plan approved by the Augusta, Georgia Commission
on March 30, 2011; (2) enters into a separation agreement with
Augusta, Georgia pursuant to the 2011 RIF Policy; and (3) dies prior
to his or her presumed Termination Date under the Retirement Plan,
such Participant shall be treated under the terms of this Plan as
having died while in the Service of Augusta, Georgia and no
Retirement benefits shall be payable to or on behalf of the Participant
under the Plan. However, for purposes of determining the
Participant's eligibility for in service pre- retirement death benefits
under the Plan and the amount of any in service pre- retirement death
benefit payable, if any, the Participant will be deemed to have
remained in Service until his or her presumed Termination Date and
his /her Credited Service will be deemed to include the period between
the Participant's official date of separation and his or her presumed
Termination Date as set forth in subsection 14(mm)(i) or (iii), as
applicable, and any Credited Service awarded pursuant to subsection
14(mm)(v), but it will not include Credited Service for unused sick
leave referenced in subsection 14(mm)(vi)). In addition, for purposes
of computing any in service pre- retirement death benefit payable
under this subsection 14(mm)(x), the Participant's Earnings will be
deemed to include any severance pay presumed to be included in the
Participant's Earnings under subsection 14(mm)(i) or (iii), as
applicable. If a Participant described herein dies after his or her
presumed Termination Date but before his or her effective
Retirement Date, then no Retirement benefits shall be payable to or
on behalf of the Participant and the provisions of this subsection
14(mm)(x) will apply in determining the Participant's eligibility for
and the amount of any pre- retirement terminated vested death benefit
payable under the Plan.
(nn) Treatment of Severance Pay for Certain Senior Executive Service (SES)
Participants Who Terminate on or after April 1, 2011 and Who Execute a
Separation Agreement. The presumed date of Termination under the
GMEBS Retirement Plan for a GMEBS Retirement Plan Participant who
terminates employment with Augusta, Georgia on or after April 1, 2011
while holding a position which is listed as an SES position in the Augusta,
Georgia, Personnel Policy and Procedures Manual in effect as of the date of
the Participant's official date of separation of employment with Augusta,
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
- 36 —
•
•
who enters into a written separation and release of claims agreement with
Augusta, and who receives severance pay in accordance with the applicable
provisions of the Augusta, Georgia Personnel Policy and Procedures Manual
in effect as of the Participant's official date of separation of employment,
shall be the last day of the month in which the Participant has exhausted his
or her severance pay pursuant to said provisions. Notwithstanding the
provisions of Section 6 of this Addendum, for purposes of calculating Final
Average Earnings said Participant's Earnings under the GMEBS Retirement
Plan as of his or her presumed date of Termination shall include such
severance pay. In addition, the period of time between the Participant's
official date of separation from employment with Augusta and the
Participant's presumed date of Termination under the GMEBS Retirement
Plan shall be treated as Credited Service under this Plan for purposes of
computing the amount of any benefit payable under the Plan, and meeting
the requirements for benefit eligibility under the Plan.
(oo) Prior Service Credit for Certain ARCPC DC Plan Participants Who Are
Transferred from the ARCPC to Augusta Effective November 1, 2011. This
subsection applies to a Participant in this Plan who: 1) was transferred from
the Augusta Richmond County Planning Commission (ARCPC) to Augusta,
Georgia on November 1, 2011, 2) participated in the ARCPC's GMEBS DB
Plan prior to August 31, 2006, 3) elected in accordance with the applicable
terms of the ARCPC's GMEBS DB Plan to participate in the ARCPC's
401(a) Defined Contribution Plan in lieu of the ARCPC's GMEBS DB Plan
after August 31, 2006; and 4) pursuant to said election, authorized the
transfer of an amount equal to the present value of his or her defined benefit
retirement benefit accrued up until August 31, 2006 (referred to herein as
"present value amount ") from the ARCPC's GMEBS DB Plan to his or her
account under the ARCPC's 401(a) Defined Contribution Plan. If a
Participant described in this subsection 14(00) effects a direct rollover of an
amount equal to the present value amount referred to above (without interest
or earnings accumulated thereon) from his or her account under the
ARCPC's 401(a) Defined Contribution Plan to the Trust Fund for this Plan
prior to March 31, 2012 (or, if sooner, prior to his or her termination of
employment with Augusta), then said Participant's "Service" with the
ARCPC prior to August 31, 2006 as defined under the terms of the ARCPC's
GMEBS DB Plan in effect as of August 31, 2006, shall be counted as Credited
Service under this Plan for all purposes (i.e., vesting, benefit eligibility and
computation of any benefits and notwithstanding the limitation in Section 14
of the Adoption Agreement providing that only Credited Service with
Augusta counts toward retirement benefit eligibility). If a Participant
described in this subsection 14(00) does not effect a direct rollover as
provided herein, no period of the Participant's service with the ARCPC shall
be counted for any purpose under this Plan, except as provided in this Plan's
Service Credit Purchase Addendum. With respect to Participants described
in this subsection 14(00), periods of employment with the ARCPC following
August 31, 2006 shall not be counted for any purpose under this Plan, except
as provided in this Plan's Service Credit Purchase Addendum. Periods of
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
-37—
(pp)
(qq)
service with the ARCPC that are otherwise creditable under any Augusta,
Georgia retirement plan (e.g.,, Augusta GMEBS Plan II) shall not be counted
for any purpose under this Plan.
Earnings for ARCPC DC Plan Participants Who Are Transferred from the
ARCPC to Augusta Effective November 1, 2011. This subsection applies to a
Participant in this Plan who: 1) was transferred from the Augusta Richmond
County Planning Commission (ARCPC) to Augusta, Georgia on November
1, 2011 and 2) became Participants in the Augusta GMEBS I Plan (this Plan)
on such date. Such Participants shall receive credit for Earnings with
Augusta, Georgia, as Adopting Employer of Augusta GMEBS Plan I (this
Plan), on and after November 1, 2011 for purposes of computing the amount
of benefits payable under this Plan. Such Earnings shall be subject, however,
to any provisions of this Plan that would otherwise limit such Earnings. In
addition, if upon termination from employment with Augusta, Georgia, a
Participant under this Plan has less than five (5) years of Earnings with
Augusta, a Participant's Earnings with the ARCPC prior to November 1,
2011 will be taken into account and treated as Earnings with Augusta as
necessary for purposes of calculating 5 -year Final Average Earnings under
this Plan, notwithstanding any provision to the contrary in the Adoption
Agreement.
Customized Plan. Although the Plan is comprised of an Adoption
Agreement, Addenda, Master Plan, and Trust Agreement based on the
GMEBS Master Defined Benefit Retirement Plan, which is a pre- approved
volume submitter program, the Plan is customized and cannot rely on the
advisory letter issued by the Internal Revenue Service for the GMEBS
program. In addition to the customized provisions of the Plan described in
the Adoption Agreement and Addenda, the provisions in Section 18.03 of the
Master Plan shall not apply to the Plan.
(rr) Actions by Augusta - Richmond County to Facilitate 2008 Transfer. Augusta
will make every reasonable effort to assure that its staff, contract
professionals, and vendors cooperate with GMEBS to facilitate the transfer
of assets and plan administration from the 1977 DB Plan and the 1998 DC
Plan to GMEBS as of January 1, 2008. Augusta will provide GMEBS with
records and information reasonably requested or necessary to facilitate the
timely transfer of Plan administration and assets, including but not limited to
the following information and records on active employees, terminated
employees and beneficiaries: name, address, social security number, birth
date, years and months of credited service as of January 1, 2008, accrued
monthly normal retirement benefits, employee account balances (including
earnings), beneficiary designation forms, retirement or death benefit
applications, direct deposit forms, participant tax withholding forms, and
1099 tax reporting information for 2007. In particular with respect to
terminated vested participants under the 1977 Plan (as of January 1, 2008),
Augusta will provide a listing indicating the amount of each such terminated
participant's accrued normal retirement benefit under the 1977 Plan, and
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
-38—
•
•
Augusta GMEBS Plan I General Addendum
(Restated November 1, 2011)
- 39 —
their normal retirement eligibility date. Benefits will be paid to said
terminated participants based upon said information (unless the participant
returns to Service with Augusta after January 1, 2008). Augusta will also
provide GMEBS with the information and documents included in the
retirement plan conversion timeline by January 1, 2008, and it will complete
any IRS filings that GMEBS reasonably requests in order to protect the
401(a)- qualified status of the GMEBS volume submitter plan or to confirm
the 401(a)- qualified status of the new Augusta Adoption Agreement or
Addendum.
•
The terms of the foregoing Addendum to the Adoption Agreement are
a rrriOly , the Aug ta, Georgia Commission Council this / day of
Attest:
C
(SEAL)
Approved:
/cm
(x /31((
AUGUSTA, GEORGIA
Mayor
The terms of the foregoing Addendum are approved by the Board of
Trustees of the Georgia Municipal Employees Benefit System.
IN WITNESS WHEREOF, the Board of Trustees of the Georgia
Municipal Employees Benefit System has caused its Seal and qv signatures of
duly authorized officers to be affixed this I day of
, 20 I i .
(SEAL)
Augusta GMEBS Plan I General Addendum
, Etziyovember 1, 2011)
- 40 -
Board of Trustees
Georgia Municipal Employees
Benefit System
SERVICE CREDIT PURCHASE
ADDENDUM TO THE
GEORGIA MUNICIPAL EMPLOYEES BENEFIT SYSTEM
DEFINED BENEFIT RETIREMENT PLAN
ADOPTION AGREEMENT
This is an Addendum to the Augusta GMEBS Plan I Adoption Agreement
completed by Augusta, Georgia. It modifies the Adoption Agreement to
provide for service credit purchases for eligible Participants in the Retirement
Plan for Certain Employees of Augusta, Georgia (Augusta GMEBS Plan I), in
accordance with and subject to the following requirements:
(1) Service Credit Purchase; Eligibility Requirements.
(a) Prior Service With Augusta - Subject to any conditions specified
in Section 13(B) or 13(C) of the Adoption Agreement and in this
Service Credit Purchase Addendum, Participants in Augusta
GMEBS Plan I (this Plan) who are actively employed on or after
January 1, 2008, and who have any period of full -time service
with Augusta, Georgia prior to January 1, 2008 (as defined in the
Augusta personnel policies and procedures), provided the Service
is not otherwise creditable under this Plan or any other Augusta
retirement plan (i.e., the Participant has not received and has no
potential to receive a retirement benefit or distribution under any
Augusta retirement plan, including this Plan, that is attributable
to such service or attributable to employer contributions made
during such service), and provided the other requirements of this
Service Credit Purchase Addendum are satisfied, may purchase
credit under this Plan for such service. The purchase of prior
service credit is permitted but not required under this Plan.
Participants may purchase all of their prior service that is eligible
for purchase, or only a portion of such service on a pro rata basis.
Such purchases will be allowed to the extent permitted by law,
subject to any conditions, proofs, or acceptance that the Augusta
Human Resources Director and GMEBS deem appropriate.
(b) Prior Service With ARCPC - Subject to any conditions specified
in Section 13(B) or 13(C) of the Adoption Agreement and in this
Service Credit Purchase Addendum, Participants in this Plan
who: 1) were employed with the Augusta - Richmond County
Planning Commission ( "ARCPC ") on or before October 31, 2011,
2) who become Eligible Regular Employees under this Plan on or
Augusta GMEBS Plan I
Service Credit Purchase Addendum
November 1, 2011
•
•
•
after November 1, 2011; and 3) have any period of full -time
service with the ARCPC prior to November 1, 2011 which is not
otherwise creditable under this Plan (see General Addendum
Section 14(oo)), Augusta GMEBS Plan II, or any other Augusta
retirement plan (i.e., the Participant has not received and has no
potential to receive a retirement benefit or distribution under any
Augusta retirement plan, including this Plan, that is attributable
to such service or attributable to employer contributions made
during such service), may purchase credit under this Plan for
such service, provided the other requirements of this Service
Credit Purchase Addendum are satisfied. The purchase of prior
service credit is permitted but not required under this Plan.
Participants may purchase all of their prior service that is eligible
for purchase, or only a portion of such service on a pro rata basis.
Such purchases will be allowed to the extent permitted by law,
subject to any conditions, proofs, or acceptance that the Augusta
Human Resources Director and GMEBS deem appropriate.
(2) Use of Purchased Service Credit. Subject to any conditions or
limitations provided in this Addendum, service credit purchased
hereunder will be counted as Credited Service for purposes of (check all
that apply):
• computing the amount of benefits payable under the Plan;
• meeting the minimum service requirements for vesting under the
Plan;
(3)
® meeting the minimum service requirements for benefit eligibility
under the Plan.
Application to Purchase Service Credit. A Participant who meets the
eligibility requirements specified in Section (1) above and who wishes to
purchase eligible service credit as described in Section (1) above may
apply for such purchase by completing and submitting to the Augusta
Human Resources Director an application form provided for that
purpose. Participants will be responsible for providing the Augusta
Human Resources Director with any information or documentation that
the Augusta Human Resources Director deems necessary to establish
Augusta GMEBS Plan I
Service Credit Purchase Addendum
November 1, 2011
-2—
•
• above.
•
•
(5)
(
that the Participant's service is eligible for purchase under Section (1)
(4) Annual Window Period for Application: July 1— August 31. In order to
purchase service credit, eligible Participants must submit the service
credit purchase application within the two -month period beginning each
July 1 and ending August 31. If a Participant does not submit a
completed application to purchase service credit within the designated
window period, the Participant will not be permitted to purchase
service credit until the next year's window period for application. As a
precondition for approval of his or her application, the Participant will
be responsible for providing the Augusta Human Resources Director
with any additional information or documentation that the Augusta
Human Resources Director deems necessary to establish that the
Participant's service is eligible for purchase under Section (1) above.
Notwithstanding any provision herein to the contrary, no Participant
may apply for or purchase prior service credit after his or her
termination of employment.
Review by Augusta Human Resources Director. The Augusta Human
Resources Director will certify on the Participant's application the
number of years and months of prior service that are eligible for
purchase under Section (1) above.
(6) Fee for Cost Study. As a precondition for approval of the application to
purchase service credit, and prior to the commencement of any cost
study, Participants may be required by the Employer to pay all or a
portion of the cost study fee(s) (to be set by Augusta, Georgia)
associated with determining the cost to purchase the Participant's
eligible service credit. This fee must be submitted with the Participant's
application before the end of the annual window period referred to in
Section (4) above.
Actuarial Study to Determine Cost of Purchase. If the Participant's
application to purchase prior service credit (and the cost study fee) are
submitted within the two -month window period for application, and if
the Participant's application to purchase is approved by the Augusta
Human Resources Director, a cost study will be undertaken as soon as
reasonably practicable after the close of the application window period
to determine the actuarial cost relating to the Participant's prior service
that is eligible for purchase.
Augusta GMEBS Plan I
Service Credit Purchase Addendum
November 1, 2011
-3—
•
(8) Lump Sum Payment Required Within 120 Days After Receipt of Cost
ID Study Results. Upon completion of the cost study, the Augusta Human
Resources Director will notify the Participant of the lump sum amount
required to purchase prior service credit, as reflected in the cost study.
Within 120 days after receipt of said notice, the Participant shall remit
said lump sum amount in the form and manner required by Sections
(9) -(11) below, the Augusta Human Resources Director, and GMEBS.
The Participant may remit less than the full lump amount necessary to
purchase all of the prior service credit which is eligible for purchase, in
which case the percentage of service credit awarded will be equal to the
percentage of the full amount remitted. The Augusta Human Resources
Director shall have the authority to extend the 120 -day time period for
payment of lump sum amounts required to purchase service credit if,
for reasons outside the control of the Participant, payment cannot be
made within the 120 -day period. However, the time limit for payment
will not be extended any later than the start of the next annual two -
month window period for application (see Section (4) above).
Method of Payment. To the extent permitted by the Internal Revenue
Code and regulations issued thereunder, the lump sum amount referred
to in Section (8) above may be paid via one or more of the following
• sources: (1) a direct trustee -to- trustee transfer from a 401(a) qualified
retirement plan, governmental 457(b) deferred compensation plan or a
403(b) tax sheltered annuity; (2) a qualified rollover from a
governmental 457(b) plan, 403(b) tax - sheltered annuity plan, 401(a)
qualified plan, 403(a) annuity plan, or a 408(a) or 408(b) individual
retirement account or annuity (traditional IRA); or (3) a lump sum
contribution of after -tax funds. Participants shall be solely responsible
for effecting the payment referred to herein. Participants will not be
permitted to purchase credit via payroll deduction.
(10) Limitation on Amount of Lump Sum Payment. If the lump sum
amount referred to in Section (8) is paid via any method other than as
described under Section (9)(1) or (9)(2) above, then the Participant shall
not be permitted to contribute to the Plan in any calendar year an
amount which exceeds any applicable limit specified in Internal
Revenue Code Section 415.
•
(9)
(11) IRC 415, Other Limitations. Notwithstanding any other provision of
the Adoption Agreement or this Addendum to the contrary, the Plan
will not accept and shall return without interest any contribution or
Augusta GMEBS Plan I
Service Credit Purchase Addendum
November 1, 2011
-4—
portion of a contribution made to purchase service credit if such
contribution would result in a violation of the applicable limitations
established under Internal Revenue Code Section 415(b), (c), or (n) or
any other provision of law or the Plan, or if it is later determined that
the Participant's prior service is not eligible for purchase, and any prior
service credit attributable to said contribution or portion of a
contribution will be forfeited.
(12) Return of Contributions. Contributions made to purchase prior service
credit shall be used to fund retirement and death benefits payable under
the Plan relating to such credit. Contributions shall not otherwise be
refundable to the Participant or any other person, except as otherwise
provided in this Section (12) or in Section 13.06 of the Master Plan
Document (concerning failure to exhaust). Participants (check one):
❑ will not be permitted to withdraw contributions made to purchase
prior service credit upon termination of employment, unless they
are not vested upon termination.
® will be permitted to withdraw contributions made to purchase
service credit upon termination of employment, subject to the
provisions of Section 13.03(c) of the Master Plan Document
concerning the effect of withdrawal. For purposes of determining
the amount of any refund of contributions made to purchase
service credit, said contributions shall be credited with interest
thereon, subject to any limitations on the crediting of interest in
Section 13.03(c) of the Master Plan Document.
Note: Partial withdrawal of employee contributions is not
permitted. If the Participant withdraws contributions made to
purchase service credit, the Participant will forfeit any and all
service credit and /or benefits attributable to such purchase for all
purposes.
(13) Repayment Upon Reemployment. If the Participant returns to
employment with the Employer after having withdrawn his
contributions made to purchase prior service credit, the Participant
(check one):
Augusta GMEBS Plan I
Service Credit Purchase Addendum
November 1, 2011
❑ not applicable (withdrawal not permitted).
-5—
• reemployment.
•
•
Augusta GMEBS Plan I
Service Credit Purchase Addendum
November 1, 2011
❑ will not be permitted to re- purchase said service credit upon
❑ will be permitted to re- purchase said service credit upon
reemployment, based on the actuarial cost of such service
credit, taking into account the additional actuarial cost of
any benefit enhancements adopted prior to reemployment
pursuant to Section (14) below, provided that the
Participant makes application for such re- purchase within
[insert time limit] after reemployment and provided the
Participant effects payment for such re- purchase in
accordance with and subject to the provisions of this
Addendum within [insert time limit] after the application is
approved.
z will be permitted to re- purchase said service credit upon
reemployment, subject to the following conditions for
repayment (must describe other repayment method): The
Participant must repay to the Plan, within six (6) months
after his reemployment date (or prior to his termination
date following reemployment, if earlier), in a lump sum any .
and all amounts previously withdrawn or refunded, plus
interest calculated at the rate of 8% per annum. Partial
repayment is not permitted. In no event will the time the
Participant was absent be taken into account in calculating
the amount of any benefit payable under this Plan. Said
Participants will also be required to satisfy the break in
service requirements of Section 4.06 of the Master Plan, if
applicable.
(14) Definition of Actuarial Cost. The cost to purchase qualifying prior
service credit shall be determined based upon the actuarial cost of said
prior service credit. In applying the provisions of the Adoption
Agreement and this Service Credit Purchase Addendum, the term
" actuarial cost of prior service credit" means (check one):
❑ the actuarial accrued liability relating to such prior service as
determined by the GMEBS actuary and calculated using the
actuarial assumptions and methods employed in performing
GMEBS member plan valuations.
-6—
(SEAL)
Approved:
d 4 442(
Attorney
Augusta GMEBS Plan I
Service Credit Purchase Addendum
November 1, 2011
Other (must specify other method of determining actuarial cost
for this purpose): the present value of projected additional
benefits relating to such prior service credit, as determined based
on factors supplied by the GMEBS actuary and calculated using
the actuarial assumptions and methods employed in performing
the Employer's annual plan valuation.
(15) Additional Payment for Future Benefit Enhancements. Following
adoption by Augusta, Georgia of a future benefit enhancement (e.g., an
increase in the benefit formula), Participants who have previously
purchased credit for prior service and who wish to be covered by any
such future benefit enhancement under the Plan may be required by
Augusta, Georgia to pay an additional amount equal to the additional
actuarial cost attributable to the benefit enhancement as applied to
service credit which has previously been purchased by the Participant.
The Participant must pay such additional amount necessary to fund
future benefit enhancements within 120 days after the Participant
receives notice of the required payment from Augusta, Georgia and
prior to termination of employment. If the required amount is not paid
by the Participant in accordance with this provision, the benefit
enhancement will not apply with respect to any period of service credit
previously purchased by the Participant.
The terms of the foregoing Service Credit Purchase Addendum to the
Adoption Agrejnent are app rd by the Au sta, Georgia Commission
Council this /�j day of /( 20
- 7 —
GUSTA, GEORGIA
j=
Mayor
•
•
The terms of the foregoing Service Credit Purchase Addendum are
approved by the Board of Trustees of the Georgia Municipal Employees
Benefit System.
IN WITNESS WHEREOF, the Board of Trustees of the Georgia
Municipal Employees Benefit System has caused its Seal and signatures of
its authorized officers to be affixed this day of
(SEAL)
1/2642393.1
Augusta GMEBS Plan I
Service Credit Purchase Addendum
November 1, 2011
Board of Trustees
Georgia Municipal Employees
r e - NBenefit System
- 8 —
Secrltary