HomeMy WebLinkAboutORD 7329 AUGUSTA GMEBS PLAN 1 RETIREMENT AMENDMENTAugusta
AMENDMENT to GMEBS Plan 1 Retirement
ORDINANCE # 7329
GEORGIA MUNICIPAL EMPLOYEES
BENEFIT SYSTEM
DEFINED BENEFIT RETIREMENT PLAN
ADOPTION AGREEMENT
for
AUGUSTA, GEORGIA
Augusta GMEBS Plan I (Technical Correction Adopted March 6, 2012)
TABLE OF CONTENTS
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 3
8. PLAN YEAR 4
9. CLASSES OF ELIGIBLE EMPLOYEES 5
A. Eligible Regular Employees 5
B. Elected or Appointed Members of the Governing Authority 5
10. ELIGIBILITY CONDITIONS 6
A. Hours Per Week (Regular Employees) 6
B. Months Per Year (Regular Employees) 7
11. WAITING PERIOD 7
12. ESTABLISHING PARTICIPATION IN THE PLAN 7
13. CREDITED SERVICE 8
A. Credited Past Service with Adopting Employer 8
B. Prior Military Service 9
C. Prior Governmental Service 11
D. Leave Conversion for Unused Paid Time Off (e.g., Sick,
Vacation, or Personal Leave) 12
14. RETIREMENT ELIGIBILITY 14
A. Early Retirement Qualifications 14
B. Normal Retirement Qualifications 14
C. Alternative Normal Retirement Qualifications 15
D. Disability Benefit Qualifications 17
15. RETIREMENT BENEFIT COMPUTATION 17
A. Maximum Total Credited Service 17
B. Monthly Normal Retirement Benefit Amount 18
C. Monthly Early Retirement Benefit Amount 20
D. Monthly Late Retirement Benefit Amount (check one): 22
E. Monthly Disability Benefit Amount 22
F. Minimum/Maximum Benefit For Elected Officials 22
16. IN- SERVICE DISTRIBUTIONS; COLA 23
A. Distributions For Those Who Remain In Service After
Normal Retirement 23
B. Cost Of Living Adjustment 24
C. Re- Employment After Retirement 25
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Augusta GMEBS Plan 1 (Technical Correction Adopted March 6, 2012)
PAGE
17. TERMINATION OF EMPLOYMENT BEFORE RETIREMENT;
VESTING 26
A. Eligible Regular Employees 26
B. Elected or Appointed Members of the Governing Authority 27
18. PRE - RETIREMENT DEATH BENEFITS 28
A. In- Service Death Benefit 28
B. Terminated Vested Death Benefit 29
19. EMPLOYEE CONTRIBUTIONS 30
20. MODIFICATION OF THE TERMS OF THE ADOPTION
AGREEMENT 31
21. TERMINATION OF THE ADOPTION AGREEMENT 31
22. EMPLOYER ADOPTION AND AUTHORIZATION FOR
AMENDMENTS 31
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Augusta GMEBS Plan I (Technical Correction Adopted March 6, 2012)
I. AN ORDINANCE
#7329
An Ordinance to amend the Retirement Plan for Certain Employees of Augusta, Georgia
(hereinafter "Augusta GMEBS Plan P "), 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 PIan" 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. Ordinance No. 7136, as amended by Ordinance No. 7251, was superseded
by Ordinance No. 7296, in which the GMEBS Adoption Agreement, General Addendum and
Service Credit Purchase Addendum were amended and restated, effective November 1, 2011.
The Retirement Plan for Certain Employees of Augusta, Georgia, including all amendments
referred to above, is hereby amended 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.
[Ordinance continued on page 34]
Augusta GMEBS Plan I (Technical Correction Adopted March 6, 2012)
II. GMEBS DEFINED BENEFIT RETIREMENT PLAN
ADOPTION AGREEMENT
Name: Augusta, Georgia
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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Augusta GMEBS Plan I (Technical Correction Adopted March 6, 2012)
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:
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 a technical correction to provide that 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 all 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).
7. EFFECTIVE DATE
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
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Augusta GMEBS Plan I (Technical Correction Adopted March 6, 2012)
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.
(1) Complete this item (1) only if this is a new defined benefit plan which does not replace
or restate an existing defined benefit plan.
(2)
(3)
The effective date of this Plan is _
(insert effective date of this Adoption Agreement not earlier than January 1, 2007).
Complete this item (2) only if this Plan is being adopted to replace a non -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 _ (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 April 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 November 1, 2011 (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):
8. PLAN YEAR
Calendar Year
❑ Employer Fiscal Year commencing
❑ Other (must specify month and day commencing):
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Augusta GMEBS Plan I (Technical Correction Adopted March 6, 2012)
A. Eligible Regular Employees
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
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):
❑ 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
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Augusta GMEBS Plan 1 (Technical Correction Adopted March 6, 2012)
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
PIan, 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
requirements specified in subsections 14(b) and 14(gg) of the General Addendum to this
Adoption Agreement.
(2) Municipal Legal Officers (check one):
El 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)
10. ELIGIBILITY CONDITIONS
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:
❑ No minimum
El 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.
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Augusta GMEBS Plan I (Technical Correction Adopted March 6, 2012)
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)
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
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Augusta GMEBS Plan T (Technical Correction Adopted March 6, 2012)
❑ 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.)
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.)
O 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):
o 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,
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Augusta GMEBS Plan I (Technical Correction Adopted March 6, 2012)
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.)
❑ 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) EIigible Employees Initially Employed After Effective Date. If an EIigible
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 PIan 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
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Augusta GMEBS Plan 1 (Technical Correction Adopted March 6, 2012)
"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).
❑ 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.
❑ 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):
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Augusta GMEBS Plan 1 (Technical Correction Adopted March 6, 2012)
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
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).
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Augusta GMEBS Plan I (Technical Correction Adopted March 6, 2012)
(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.
❑ 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.a., 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.
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Augusta GMEBS Plan 1 (Technical Correction Adopted March 6, 2012)
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).
❑ 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
o Unused personal leave
❑ Other paid time off (must specify, subject to limitations in Section 3.01 of
Master PIan):
(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):
• 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
13
Augusta GMEBS Plan I (Technical Correction Adopted March 6, 2012)
Termination date. Each twenty (20) days of 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 days of 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 Oualifications
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.
Class 4
(1) Eligible Employees to whom exception applies (must specify): Class 2 and
Early retirement qualifications for excepted class(es) are (check one or more as applicable):
El 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 Oualifications
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):
-14—
Augusta GMEBS Plan 1 (Technical Correction Adopted March 6, 2012)
® Attainment of age 65 (insert number)
❑ 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 Governins 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 years (insert number) of Total Credited Service
C. Alternative Normal Retirement Qualifications
PIease 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.
Only the following Participants (must specify): Participants in Class L,
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
-15—
Augusta GMEBS Plan I (Technical Correction Adopted March 6, 2012)
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) ❑
of Total Credited Service as Public Safety Personnel with Aususta.,
Geor2ia (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.
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): ❑ 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):
-16—
Augusta GMEBS Plan I (Technical Correction Adopted March 6, 2012)
(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).
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):
- 17—
Augusta GMEBS Plan 1 (Technical Correction Adopted March 6, 2012)
® 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):
O (a) Flat Percentage Formula. L65% (insert percentage) of Final Average
Earnings multiplied by years of Total Credited Service as an Eligible
Regular Employee.
• (b)
This formula applies to:
0
-18—
Augusta GMEBS Plan I (Technical Correction Adopted March 6, 2012)
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.
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.
O (d) Split Final Average Earnings Formula. 115% (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:
❑ 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(13)(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.
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.
❑ Only the following class(es) of Participants (must specify):
-19—
Augusta GMEBS Plan 1 (Technical Correction Adopted March 6, 2012)
❑ (d) Covered Compensation shall mean a Participant's annual Earnings that
do not exceed $ (specify amount). This definition shall
apply to (check one):
❑ All Participants who are Regular Employees.
❑ Only the following Participants (must specify):
(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 PIan.]
C. Monthly Early Retirement Benefit Amount
Check and complete one or more as applicable:
-20—
Augusta GMEBS Plan 1 (Technical Correction Adopted March 6, 2012)
(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:
❑ All Participants.
® Only the following Participants (must specify): All Participants
except those in Class 6.
® (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:
❑ All Participants.
® Only the following Participants (must specify): Participants in
Class 6 (See General Addendum subsection 14(aa)(ii)).
Number of Years Before Age Percentage of
65 to Age 62, as Applicable Normal Retirement Benefit*
(check as applicable) (complete as applicable)
® 0
▪ 1
® 2
® 3
• 4
® 5
• 6
® 7
® 8
® 9
® 10
® 11
El 12
® 13
® 14
® 15
*Interpolate for whole months
-21—
Augusta GMEBS Plan 1 (Technical Correction Adopted March 6, 2012)
Alternative Early Retirement Reduction Table
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
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.)
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
-22—
Augusta GMEBS Plan I (Technical Correction Adopted March 6, 2012)
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 fmal salary as an elected or
appointed member of the Governing Authority.
❑ Other minimum or maximum (must specify):
16. IN- SERVICE DISTRIBUTIONS; COLA
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):
❑ 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
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
-23—
Augusta GMEBS Plan I (Technical Correction Adopted March 6, 2012)
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):
❑ All Participants (and their Beneficiaries).
❑ 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).
The above cost -of- living adjustment shall apply with respect to the following
Participants (and their Beneficiaries) (check one):
-24—
Augusta GMEBS Plan I (Technical Correction Adopted March 6, 2012)
(3)
❑ (a) No cost -of- living adjustment.
❑ (b) Variable Annual cost -of- living adjustment not to exceed % (insert
percentage).
• (c)
C. Re- Employment After Retirement
(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.
❑ 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.
The Employer hereby elects the following (check one):
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):
❑ 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.
(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):
❑ (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.
- 25 —
Augusta GMEBS Plan I (Technical Correction Adopted March 6, 2012)
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)
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):
❑ Graduated Vesting Schedule. Benefits shall become vested in accordance with
the following schedule (insert percentages):
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 w only the
following classes of Retired Participants (must specify - benefits
of those Retired Participants not Iisted 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.
❑ 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.
-26—
Augusta GMEBS Plan I (Technical Correction Adopted March 6, 2012)
COMPLETED YEARS
VESTED PERCENTAGE_
%
OF TOTAL CREDITED SERVICE
1
2
3
%
4
%
5
%
6
%
7
%
8
%
9
%
10
%
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(ll)(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) Subject to the preconditions specified in subsection 14(ll)(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(11)(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):
No vesting schedule (immediate vesting).
❑ Other vesting schedule (must specify):
-27—
Augusta GMEBS Plan I (Technical Correction Adopted March 6, 2012)
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.
❑ Total Credited Service accrued prior to the date of the Participant's death,
plus (check one): ❑ one -half ('A) ❑ (insert other
fraction) of the Service between such date of death and what would
otherwise have been the Participant's Normal Retirement Date.
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Augusta GMEBS Plan I (Technical Correction Adopted March 6, 2012)
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
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
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Augusta GMEBS Plan I (Technical Correction Adopted March 6, 2012)
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
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)-
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Augusta GMEBS Plan 1 (Technical Correction Adopted March 6, 2012)
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.
• 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.
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
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Augusta GMEBS Plan I (Technical Correction Adopted March 6, 2012)
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
the effect of the IRS advisory Ietter 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.
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Augusta GMEBS Plan I (Technical Correction Adopted March 6, 2012)
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 3. The effective date of this Ordinance shall be April 1, 2011.
Section 4. All Ordinances and parts of ordinances in conflict herewith are expressly
repealed.
(SEAL)
Approved by the Au ta, Georgia Commission Council this
Signi
&:" H•riej
AN ORDINANCE (continued from page 1)
The -terms of the foregoing Adoption Agreement are approved by the Board of Trustees
of Georgia Municipal Employees Benefit System.
IN WITNESS WHEREOF, the Board of Trustees of Georgia Municipal Employees
Bene System has cau ed its Seal and the signatures of its duly authorized officers to be affixed
this day of Ltr i_.Q - , 20 ),,
Board of Trustees
Georgia Municipal Employees
nefit System
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Augusta GMEBS Plan I (Technical Correction Adopted March 6, 2012)
amt.
Secretary
'AUGUSTA, GEORGIA
A OA Mayor
3fi'/[
day of