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Home My WebLink AboutORD 7357 TO AMEND THE CITY OF AUGUSTA 1949 GENERAL RETIREMENT FUNDI/2694728.1 ORDINANCE NO. 7357 ORDINANCE TO AMEND THE CITY OF AUGUSTA 1949 GENERAL RETIREMENT FUND Effective March 1, 1949, the General Assembly of Augusta, Georgia established the "City Council of Augusta 1949 Georgia Retirement Fund," hereinafter referred to as the Plan. The Plan covers Employees hired on or before December 31, 1986, meaning no one hired after that date is eligible to participate in the Plan. The Plan has subsequently been amended from time to time and was most recently restated in its entirety effective January 1, 2010. On September 4, , 20 12 , the Augusta- Richmond County Commission, as successor to the City Council of Augusta 1949 General Retirement Fund approved this amendment of the Plan effective January 1, 2010, to clarify the vesting provisions upon attainment of normal retirement age. The Plan is hereby amended, effective January 1, 2010, as follows: Section 3.01(A) of the Plan, regarding normal retirement date, is hereby amended to be and read as follows: A. Normal Retirement Date: The Normal Retirement Date of a Participant shall be the first day of the month coincident with or next following the date he reaches the normal retirement age of: (a) Age fifty -five (55) if he is a firefighter or peace officer and has at least twenty -five (25) years of Credited Service; or (b) Age sixty (60) if he is employed in a capacity other than as a firefighter or peace officer and has at least twenty -five (25) years of Credited Service. In addition to any other vesting provisions of the Plan, a Participant shall be one hundred percent (100 %) vested in his normal retirement benefit upon attaining normal retirement age. For purposes of this Section 3.01 and Section 3.04, a "peace officer" is defined as any Participant who is "POST" (Peace Officer Standards and Training) certified, and a "firefighter" is defined as any Participant who is "FOST" (Firefighter Officer Standards and Training) certified. 4th 1/2694728.1 2. In all other respects, the Plan shall remain unchanged. IN WITNESS WHEREOF, the County has caused this amendment to the Plan to be duly executed as of the 4th day of September January I, 2010 This Ordinance shall be effective as of January 1, 2010. All ordinances and part of ordinances in conflict with the provisions of this Ordinance are hereby repealed. APPROVED AND ENACTED by the Augusta - Richmond County Commission, on the day of , 201 . 9 September the Augusta Chronicle September 13, 2012 AUGUSTA - RICHMOND COUNTY COMMISSION, AS SUCCESSOR TO THE RICHMOND COUNTY BOARD OF COMMISSIONERS, AS EMPLOYER Mayor - 4-/K Mayor , 20 12 , but effective as of L_6( AUGUSTA - RICHMOND COUNTY COMMISSION, AS SUCCESSOR TO THE RICHMOND COUNTY BOARD OF COMMISSIONERS, AS TRUSTEE -2- AUGUSTA, GEORGIA This determination letter is also applicable for the amendment(s) dated on 12 -1 -09. This determination is subject to your adoption of the proposed amendments submitted in your letter dated 11- 18 -11. The proposed amendments should be adopted on or before the date prescribed by the regulations under Code section 401(b). This determination letter is based solely on your assertion that the plan is entitled to be treated as a Governmental plan under section 414(d) of the Internal Revenue Code. We have sent a copy of this letter to your representative as indicated in the Form 2848 Power of Attorney or appointee as indicated by the Form 8821 Tax Information Authorization. If you have questions concerning this matter, please contact the person whose name and telephone number are shown above. Enclosures: Publication 794 _2_ Sincerely, Andrew E. Zuckerman Director, EP Rulings & Agreements Letter 2002 (DO /CG) INTERNAL REVENUE SERVICE P. O. BOX 2508 CINCINNATI, OH 45201 Date: MAR 0 6 2012 AUGUSTA, GEORGIA C/O LISA ERB HARRISON ICE MILLER ONE AMERICAN SQ., SUITE 2900 INDIANAPOLIS, IN 46282 Dear Applicant: DEPARTMENT OF THE TREASURY Employer Identification Number: 58- 2204274 DLN: 401038009 Person to Contact: YOLANDA NAJERA Contact Telephone Number: (626) 312 -3622 Plan Name: CITY OF AUGUSTA 1949 GENERAL RETIREMENT FUND Plan Number: 001 ID# 95083 We have made a favorable determination on the plan identified above based on the information you have supplied. Please keep this letter, the application forms submitted to request this letter and all correspondence with the Internal Revenue Service regarding your application for a determination letter in your permanent records. You must retain this information to preserve your reliance on this letter. Continued qualification of the plan under its present form will depend on its effect in operation. See section 1.401- 1(b)(3) of the Income Tax Regulations. We will review the status of the plan in operation periodically. The enclosed Publication 794 explains the significance and the scope of this favorable determination letter based on the determination requests selected on your application forms. Publication 794 describes the information that must be retained to have reliance on this favorable determination letter. The publication also provides examples of the effect of a plan's operation on its qualified status and discusses the reporting requirements for qualified plans. Please read Publication 794. This letter relates only to the status of your plan under the Internal Revenue Code. It is not a determination regarding the effect of other federal or local statutes. This determination letter gives no reliance for any qualification change that becomes effective, any guidance published, or any statutes enacted, after the issuance of the Cumulative List (unless the item has been identified in the Cumulative List) for the cycle under which this application was submitted. This letter may not be relied on after the end of the plan's first five - year remedial amendment cycle that ends more than twelve months after the application was received. This letter expires on January 31, 2014. This letter considered the 2009 Cumulative List of Plan Qualification Requirements. This determination letter is applicable for the amendment(s) executed on 2 -1 -11, 7- 10 -07. Letter 2002 (DO /CG)