HomeMy WebLinkAboutAMENDMENT 2 TO THE AUGUSTA RICHMOND COUNTY GEORGIA 401 (A) DEFINED CONTRIBUTION PLANAMENDMENT 2
TO THE
AUGUSTA - RICHMOND COUNTY, GEORGIA
401(a) DEFINED CONTRIBUTION PLAN
WHEREAS, Augusta, Georgia ( "Employer ") established the Augusta- Richmond County,
Georgia 401(a) Defined Contribution Plan ( "Plan "), effective May 1, 1998;
WHEREAS, Employer wishes to amend the Plan, pursuant to this Amendment 2, to
reflect the changes to federal law pursuant to the Worker, Retiree, and Employer Recovery Act
of 2008.
NOW, THEREFORE, the Plan is hereby amended as follows:
1. Effective for Plan Years beginning on or after January 1, 2009, a new Section 12.08 is
added to Article XII to be and read as follows:
12.08 2009 Required Minimum Distribution. Notwithstanding any other
provisions of this Article XII, a Participant or Beneficiary who would have been required
to receive required minimum distributions for 2009 but for the enactment of Code
Section 401(a)(9)(H) ( "2009 RMDs "), and who would have satisfied that requirement by
receiving distributions that are (1) equal to the 2009 RMDs or (2) one or more payments
in a series of substantially equal distributions (that include the 2009 RMDs) made at least
annually and expected to last for the life (or life expectancy) of the Participant's
designated Beneficiary, or for a period of at least 10 years ( "Extended 2009 RMDs "), will
receive those 2009 distributions unless the Participant or Beneficiary elects not to receive
such distribution. Participants and Beneficiaries described in the preceding sentence will
be given the opportunity to elect not to receive the distributions described in the
preceding sentence.
Notwithstanding any other provisions of the Plan, and solely for purposes of
applying the rollover provisions of the Plan, 2009 RMDs (amounts that would have been
required minimum distributions for 2009 but for the enactment of Code Section
401(a)(9)(H)) and Extended 2009 RMDs (one or more payments in a series of
substantially equal distributions (that include the 2009 RMDs) made at least annually and
expected to last for the life (or life expectancy) of the Participant's designated
Beneficiary, or for a period of at least 10 years), will not be treated as Eligible Rollover
Distributions.
2. In all other respects the Plan shall be and remain unchanged.
IN WITNESS WHEREOF, Augusta, Georgia has caused this Amendment 2 to be
executed as of the date set forth below.
Duly adopted this 18th day of December, 2012.
AUGUSTA, GEORGIA
David S. Copenhaver
As its Mayor