HomeMy WebLinkAboutORD 7379 TO AMEND THE COMP ZONING ORD BY CHANGING THE ZONING FROM ZONE R-1 (ONE-FAMIL RESIDENTIAL) AND ZONE B-2 (GENERAL BUSINESS) WITH CONDITION TO ZONE 13-2 AFFECTING PROPERTY LOCATED ON THE WEST RIGHT OF WAY LINE OF DAVANT STREETORDINANCE NO. 7379
An Ordinance to amend the Comprehensive Zoning Ordinance adopted by the Augusta,
Georgia Commission effective September 16, 1997 (Ordinance No. 5960) together with all
amendments which have been approved by either the Augusta Commission as authorized
under the Home Rule Provisions of the Comprehensive Zoning Map from Constitution of
the State of Georgia" by changing the zoning from Zone R -1 (One - family Residential)
and Zone B -2 (General Business) with conditions to Zone B -2 affecting property
located on the west right -of -way line of Davant Street, 139 feet, more or less,
north of Middleton Road; and for the repeal of ordinances in conflict herewith and for
other purposes:
THE AUGUSTA, GEORGIA COMMISSION HEREBY ORDAINS:
SECTION I. That the Comprehensive Zoning Ordinance adopted by the Board of Commissioners of
Richmond County on the 15th day of November, 1983, the caption of which is set out above, is amended by
changing the Comprehensive Zoning Map from Zone R - (One - family Residential) and Zone B -
(General Business) with conditions to Zone B -2 affecting property as follows:
Z -)3_ o
SECTION II. All Ordinances or parts of Ordinances in conflict with this Ordinance are hereby repealed.
APPROVED THIS January 15
• Beginning at a point located on the west right -of -way line of Davant Street, 139
feet, more or less, north of Middleton Road; thence, in a westerly direction a
distance of 193 feet, more or less, to a point; thence, in a northerly direction a
distance of 210.0 feet to a point; thence, in an easterly direction a distance of 193
feet, more or less, to a point located on the west right -of -way line of Davant
Street; thence, in a southerly direction along the west right -of -way line of Davant
Street a distance of 211 feet, more or less, to the point of beginning. This
property consists of two tax parcels that contain .94 acres and are known as 116
and 118 Davant Street. (Tax Map 010 -0- 016 -00 -0 and 010 -0- 017 -00 -0)
Done in Open Meeting under the Common Seal thereof this 15 day of Jan , 2013.
, 2013.
Mayor
Published' in the Augusta Chronicle January 24,2013
This petition was published in the Augusta Chronicle, Thursday, December 13, 2012, by the Planning
Commission for public hearing on Monday, January 7, 2013.
Augusta Richmond GA
DOCUMENT NAME: ~ct\'(~T ?b.n
DOCUMENT TYPE: C)\C\\~\I~~
YEAR: 'l19
BOX NUMBER: ;);j
FILE NUMBER: \ l d'-\l
NUMBER OF PAGES: 1.O~
.
o R D IN A N C E
AN ORDINANCE PURSUANT TO ARTICLE XV, ~II-A,
OF THE 1945 CONSTITUTION OF THE STATE OF
GEORGIA, TO PROVIDE FOR "RETIREMENT PLAN
FOR EMPLOYEES OF RICHMOND COUNTY"; TO
REPEAL ALL OTHER ORDINANCES AND SECTIONS
OF ORDINANCES IN CONFLICT HEREWITH; TO
PROVIDE AN EFFECTIVE DATE; AND FOR OTHER
PURPOSES.
NOW, THEREFORE, BE IT RESOLVED AND ORDAINED by
the Board of Commissioners of Richmond County, Georgia, and
it is hereby resolved and ordained by the authority of same,
that the "Retirement Plan for Employees of Richmond County"
set out as Exhibit "A", a copy of which is attached hereto
and made by reference a part hereof, be and the same is
hereby adopted as the "Retirement Plan for Employees of
Richmond County" effective January 1, 1977, and all
Ordinances or parts of Ordinances in conflict with the pro-
visions of this Ordinance are hereby repealed.
Approved and enacted by the ~ard of commissi~ners
of Richmond County, Georgia, this~ay of November, 1976.
~
~ ..... ~ Sl-
JI~Chai -, Bo~Commissioners
of Richmond County, Georgia.
ATTEST:
~
. U.-t:'L4!"');e-<... 0{ __
er , Boar 0 Commissioners
of Richmond County, Georgia.
..
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q);Ji-
" II
II
RETIREMENT PLAN
FOR EMPLOYEES OF RICHMOND COUNTY
Effective January 1, 1977
DRAFT: .J.I!J~/::;~
4/~{)1::;.f3
~ 11/10/76
..
RETIREMENT PLAN
FOR EMPLOYEES OF RICHMOND COUNTY
Effective January 1, 1977
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CONTENTS
Page
SECTION 1 DEFINITIONS
1. 01 Employer or County 1-1
1. 02 Board 1-1
1. 03 Plan 1-1
1. 04 Old Plan 1-1
1. 05 Trust Agreement or Trust 1-1
1. 06 Fund 1- 2
1. 07 Trustee 1-2
1. 08 Employee 1-2
1. 09 Participant 1-3
1.10 Contributions 1-4
1.11 Credited Service 1- 4
1.12 Earnings 1-6
1.13 Average Earnings 1-7
1.14 Effective Date 1-7
1.15 Plan Year 1-7
1.16 Actuarial Equivalent 1-7
1.17 Beneficiary 1- 8
1.18 Joint Annuitant 1-8
1.19 Payee 1-8
1. 20 Interest 1- 8
SECTION 2 ELIGIBILITY AND PARTICIPATION
2.01 Eligibility 2-1
2.02 Participation 2-2
SECTION 3 RETIREMENT DATES AND BENEFITS
3.01 Normal Retirement 3-1
3.02 Early Retirement 3-2
3.03 Disability Retirement 3-3
3.04 Delayed Retirement 3-10
3;05 Termination of Employment 3-11
3.06 Cost-of-Living Adjustment of Benefits 3-13
3.07 Payment of Small Benefits 3-15
SECTION 4 DEATH BENEFITS
4.01 Death Prior to Retirement 4-1
4.02 Death After Retirement 4-3
4.03 Adjusted Benefit 4-3
4.04 Designation of Beneficiaries 4-3
SECTION 5
5.01
5.02
5.03
5.04
SECTION 6
6.01
6.02
SECTION 7
7.01
SECTION 8
8.01
8.02
8.03
8.04
B.05
8.06
8.07
8.08
8.09
8.10
SECTION 9
9.01
9.02
SECTION 10
10.01
10.02
10.03
10.04
10.05
10.06
10.07
10.08
10.09
OPTIO~AL FORMS OF RETIREMENT INCOME
(
Election of Optional Retirement
Benefits
Description of Options
Joint Annuitant or Beneficiary
Cancellation of Election
CONTRIBUTIONS
County Contributions
Participant Contributions
ADMINISTRATION OF PLAN
Administration
TRUST FUND AND TRUSTEES
Trust Fund
Amendment of Trust
Discontinuance of Trust and Vesting
Powers of Trustee
Investment of Fund
Taxation
Resignation of Trustee
Successor Trustees
Liability of Trustee
Disbursements
AMENDMENT AND TERMINATION
Amendment of the Plan
Termination of the Plan
MISCELLANEOUS
Headings
Construction
Spendthrift Clause
Legally Incompetent
Benefits Supported Only By Fund
Discrimination
Limitation of Liability; Legal Actions
Claims
Forfeitures
Page
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5-1
5-2
5-3
6-1
6-1
7-1
8-1
8-2
8- 2
8-2
8-4
8-6
8-6
8-6
8-7
8-7
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10-1
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RETIREMENT PLAN
FOR EMPLOYEES OF RICHMOND COUNTY
INTRODUCTION
Effective January 1, 1977, the Board of Commissioners of
Richmond County (hereinafter referred to as Board) established
the "Retirement Plan for Employees of Richmond County", hereinafter
referred to as Plan. The establishment of the Plan stems from the
desire of the Board to facilitate a retirement program for certain
employees of the County not presently covered under another retire-
ment or pension plan to which the County contributes, or not
covered under the Social Security Act.
The Plan also provides an option for present members of the
Richmond County Pension Plan (Old Plan) to become Participants in
this Plan. Provisions for such employees electing coverage here-
under are described in Section 2.
The Plan will be administered by the Board as described in
Section 7. All benefits to be provided under the Plan will be
funded under a trust established in accordance with Section 8
hereof.
1-1
SECTION 1
DEFINITIONS
As used herein, unless otherwise defined or required by the
context, the following words and phrases shall have the meanings'
indicated:
1.01 Employer or County:
shall mean Richmond County,.
Georgia.
shall mean the Board of Commissioners
of Richmond County which shall act
in the dual capacity of administrator
of the Plan and Trustee of the
trust fund herein established.
shall mean the Retirement Plan for
Employees of Richmond County as
contained herein and all amendments
thereto which may hereafter be
made. The Plan shall include the
Trust as hereinafter defined.
shall mean the Richmond County
Pension Plan, established March 1,
1945 for certain employees of the
County, which plan is currently
in existence.
shall mean the agreement of trust
between the Board, in its capacity
as the governing body of the Employer,
1.02 Board:
1.03 Plan:
1.04 Old Plan:
1.05 Trust Agreement or Trust:
1-2
and the Board, in its.capacity
as Trustee, which shall govern the
continuation and maintenance of
the trust fund, and all amendments
thereto.
shall mean the trust fund created
in accordance with the Plan-and
Trust.
shall mean the Board of Commissioners
in its capacity as trustee, or any
substitute or successor trustee
hereafter appointed.
shall mean any person regularly em-
ployed by the County, any employee,
officer, appointee or electee of
the Board as now constituted or
hereafter constituted, and any
employee, officer, appointee or
electee under any official of the
County as now constituted or here-
after constituted, who is elected
by vote of the electorate, including
employees of the Richmond County
Water and Sewage System and employees
of the Department of Family and
Children Services who are eligible
for coverage under the Richmond
1.06 Fund:
1.07 Trustee:
1.08 Employee:
1-3
1.09 Participant:
County Merit System, but excluding:
(a) any person covered under
the provisions of the Old
Plan, except those members
of said plan who elect to
participate in this Plan in
accordance with Section 2;
(b) any person whose customary em-.
ployment is for less than 30
hours a week or an aggregate
of six months in any calendar
year;
(c) employees of the Richmond County
Department of Health and De-
partment of Family and Children's
Services of Richmond County (ex-
cept those employees eligible
for coverage under the County's
Merit System) and Augusta -
Richmond County Public Library;
(d) the County Agent, County Home
Demonstration Agent and their
employees; and
(e) officers elected by vote of
the electorate.
shall mean an Employee who becomes
eligible to participate in the Plan
as provided in Section 2.
1-4
1.10 Contributions;
shall mean the payments made by
the Participants to the Fund in
accordance with Section 6.
shall mean the number of years of
uninterrupted and continuous employ-
ment (completed months expressed as
a fractional year) of the Employee
with the Employer from (i) the later
of the date he last entered the employ
of the Employer and January 1, 1977,
to (ii) the earlier of his date of
termination of employment for any
reason or his actual retirement date,
excluding any period during which
an Employee fails to comply with the
provisions of Section 2.02 for
participation after the date he is
first eligible; provided, however,
that such employment. shall not be
deemed to have been interrupted
by:
(a) vacation, or approved leave of
absence authorized by the Em-
ployer in accordance with a
uniform policy applied on a
nondiscriminatory basis to all
Employees similarly situated;
1.11 Credited Service:
1-5
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(b) voluntary or involuntary service
in the Armed Forces of the
United States, provided the
Employee is legally entitled to
reemployment under the provisions
of the Universal Military
Training and Service Act, and
any amendments thereto, or
other law applicable to such
reemployment, and is reemployed
by the Employer within 60 days
from the date he becomes first
eligible for discharge or
separation from such service;
(c) reelection or reappointment
at the end of a term; or
(d) periods during which the Em-
ployee is disabled as provided
in Section 3.03, provided he
recovers from disability and ~s
reemployed by the Employer as
provided in Section 3.03-A(7)
or B ( 4 ) ;
provided, however, that (i) any
period of inactive employment as
stated in Section l.ll(b) and (d)
above shall not be included for
1-6
benefit purposes and (ii) ln computing
Credited Service for the purpose of
vesting in Section 3.05, that period
from his last date of employment
with the Employer shall be included.
1.12 Earnings:
Notwithstanding any provision herein
to the contrary, any Participant
who terminates employment prior to
his Normal Retirement Date and sub-
sequently reenters the employ of
the Employer, shall be credited with
the periods of employment (i) des-
cribed in this Section 1.11 above
to his date of termination, pro-
vided he shall repay to the Fund
within 12 months from his date of
reemployment the amount equal to
his Contributions plus interest
refunded to him by reason of his
prior termination and (ii) from
his date of reemployment to his
subsequent date of retirement
or termination of employment, for
the purpose of computing his Credited
Service under the Plan.
shall mean the total compensation
paid to a Participant by the Employer
during any calendar year as reported
1-7
on the Federal Withholding Tax
Statement (Form W-2 of the Internal
Revenue Service) or any similar
approved form.
shall mean the monthly average of
the Participant's Earnings for the
five consecutive calendar years
immediately preceding the earlier
to occur of (a) the date on which
the Participant's employment with
the Employer terminates for any
reason or (b) the Participant's
actual retirement date. Average
Earnings shall be determined by
dividing the to~al Earnings received
by the Participant during the appro-
priate five year period, or lesser
number of years if applicable, by
the number of months for which he
received Earnings in such period.
shall mean January I, 1977.
shall mean the twelve month period
ending December 31st of each year.
shall, for all Participants, mean
a benefit of equivalent value com-
puted in accordance with accepted
actuarial principles and based on
1.13 Ave'rage Earnings:
1.14 Effective Date
1.15 Plan Year:
1.16 Actuarial Equivalent:
1-8
the 1971 Group Annuity Mortality
Table with interest at 6%, or such
other table as the Board may here-
after adopt.
shall mean the person(s) designated
by the Participant in accordance
with Section 4.04 who is entitled
to receive benefits at the death
of a Participant under Section 4
or 5.
shall mean the person designated
by the Participant to receive
payments after the death of the
Participant as provided under
Option A or B In accordance with
Section 5.02.
shall mean the Beneficiary or Joint
Annuitant designated by the Partici-
pant in accordance with Section 1.17
or 1.18 above to receive benefits
under the Plan after his death.
1.17 Beneficiary:
1.18 Joint Annuitant:
1.19 Payee:
The term "interest" or. "with
interest," unless otherwise stated,
shall mean interest credited on
Participant Contributions from the
January 1 next following the date
of which such Contributions are
1. 20 Interest:
1-9
made to the earlier of (a) the date
of termination of employment for
any reason and (b) the Participant's
Normal Retirement Date, with such
interest compounded annually at the
rate of 5% per annum.
2-1
SECTION 2
ELIGIBILITY AND PARTICIPATION
2.01 Eligibility
. Each Employee, as such term is defined in Section 1.08,'
in the employ by the County shall be eligible to become a
Participant in the Plan as of the later of (i) January 1, 1977
or (ii) his date of employment, provided he had not attained
age 60 as of his date of hire.
Any member of the Old Plan may elect to become a Participant
ln this Plan in accordance with the following procedure:
(a) each member shall have the option to become a
Participant in this Plan not later than April I, 1977;
(b) the Board shall provide an explanation of the benefits
payable to each such member under the combination of
employee benefit plans or programs, including the Old
Plan, this Plan and Social Security, and an explana-
tion of the requirement that past service and benefits
accrued under the Old Plan must be waived by the member.
(c) after the explanation referred to in (b) above, the
member shall be given 30 days to accept or reject
the election to become a Participant in this Plan.
If the member does not elect to become a Participant
under the Plan he shall thereafter be precluded
from participation herein for the duration of his
employment with the County unless, at some future date,
the Board should reopen participation in the Plan to
such members.
2-2
2.02 Participation
A. Each Employee or member of the Old Plan who is eligible
to become a Participant in accordance with Section 2.01,
shall become a Participant by:
(1) authorizing the County in writing to deduct from
his Earnings the Contributions required of him,
as provided in Section 6.02-A, and
(2) filing with the Board on a prescribed form such
information as shall be required by the Board,
which shall include the Employee's acceptance
of the terms and conditions of the Plan and
the designation of a Beneficiary.
B. In addition to the requirement set forth in paragraph
A above, each member of the Old Plan who elects to
become a Participant hereunder shall sign an agreement
waiving his rights to any past service or accrued benefit
accumulated thereunder. If the member becomes a Partici-
pant his contributions made under the Old Plan shall be
returned to him in one lump-sum payment.
C. Any Employee, referred to in Section 2.01, who does not
elect to become a Participant as of the date he is first
eligible may elect to become a Participant as of the first
day of any month not later than one year from the date
he was first eligible by completing the requirements
specified in paragraph A above; provided, however, that
his Credited Service, as defined in Section 1.11, shall
not include that' period of employment from the date he
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first became eligible for participation to the.date
he becomes a Participant in accordance with this
section. Any Employee who does not become a Partici-
pant within one year from the date he is first
eligible shall forfeit all Credited Service to which
he would have been entitled in accordance with
Section 1.11 and thereafter shall be entitled only
to the Credited Service accrued from the first day
of any month on which he complies with the requirements
for participation and becomes a Participant in the Plan.
3-1
SECTION 3
RETIREMENT DATES AND BENEFITS
3.01 Normal Retirement
Normal retirement under the Plan is retirement from the
employ of the County on the Normal Retirement Date. In the
event of normal retirement, payment of the retirement benefit
shall be governed by the fOllowing provisions of this section.
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:
(1) attains his 65th birthday; or
(2) attains age 62 and completes 25 years of Credited
Service.
B. Amount of Retirement Benefit
(1) Basic Benefit: The monthly retirement benefit pay-
able to a Participant who retires on his Normal
Retirement Date shall be an amount equal to (a) 1% of
the Participant's Average Earnings multiplied by (b)
his Credited Service on and after January 1, 1977.
(2) Adjusted Benefit: The monthly retirement benefit
payable under paragraph B-(l) above, shall be
adjusted by the cost-of-living adjustment as pro-
vided in Section 3.06 upon commencement of retirement
benefit payments.
3-2
C. Payment of Retirement Benefit: The retiremen~ benefit
payable ln the event of normal retirement shall be payable
on the first day of each month. The first payment shall
be made on the Participant's Normal Retirement Date and
the last payment shall be the payment due next preceding
his date of death, subject to the provisions of Section
4.02; provided, however, a Participant may modify the
amount and conditions of payment by electing an optional
form of payment in accordance with Section 5.
3.02 Early Retirement
Early retirement under the Plan is retirement from the
employ of the County prior to the Normal Retirement Date.
Early retirement shall be authorized only in the event that
the Participant shall have both attained age 50 and completed
at least 15 years of Credited Service. In the event of early
retirement, payment of the retirement benefit shall be governed
by the following provisions of this section.
A. Early Retirement Date: The Early Retirement Date of a
Participant shall be the first day of the month coincident
with or immediately following the date he retires from the
employ of the County under the provisions of this section.
B. Amount of Retirement Benefit: A Participant at retirement
on his Early Retirement Date shall at his option receive
either:
(1) a deferred monthly retirement benefit commencing
on ~is Normal Retirement Date, provided he is then
)-)
alive, equal to an amount computed in the same manner
as for normal retirement in accordance with Section
3.01-B, but based on Credited Service and Average Earnings
as of his Early Retirement Date; or
(2) an immediate monthly retirement benefit commencing on
his Early Retirement Date equal to the benefit determined
in Section 3.02-B(1) above, reduced by 5/12% for each
complete month by which the Early Retirement Date of a
Participant precedes his Normal Retirement Date.
C. Payment of Retirement Benefit: The monthly retirement benefit
payable in the event of early retirement shall be payable
on the first day of each month. The first payment shall
be made on the optional date elected by the Participant
under Section 3.02-B above and the last payment shall be
the payment due next preceding his date of death, subject
to the provisions of Section 4.02; provided, however, a
Participant may modify the amount and conditions of payment
by electing an optional form of payment in accordance
with Section 5.
3.03 Disability Retirement
A. Employment Connected Disability: A Participant may retire
under the Plan if he becomes totally and permanently disabled
from a cause arising out of and in the course of employment.
Such retirement shall herein be referred to as disability
retirement and payment of the disability retirement benefit
shall be governed by the following provisions of this section.
3-4
.
(1) Disability Retirement Date: The Disability Retirement
Date of a Participant shall be the first day of the
month which coincides with or next follows the date
the Board approves payment of the disability benefit.
(2) Total and Permanent Disability: A Participant shall
be considered totally disabled if, in the opinion
of the Board and subject to Section 3.03-A(3) below,
he is wholly prevented from engaging in any substantial
gainful activity by reason of a medically determinable
physical or mental impairment which can be expected to
result in death or to be of long continued and indefinite
duration. The decision of the Board on these questions
shall be final and binding.
(3) Non-Admissible Causes of Disability: A Participant shall
not be entitled to receive any disability retirement
benefit if the disability is a result of any of the
following:
(a) excessive and habitual use by the Participant
of drugs or narcotics;
(b) injury or disease sustained by the Participant
while willfully participating in acts of
violence, riots, civil insurrections or while
committing a criminal offense;
(c) injury or disease sustained by the Participant
while serving in any armed forces or as the
result of warfare;
3-5
(d) injury or disease sustained'by the Pa~ticipant
after his employment has terminated;
(e) injury or disease sustained by the Participant
while working for anyone other than the County
and directly attributable to such employment;
or
(f) intentional, self-inflicted injury.
(4) Proof of Disability: The Board, before approving
,
payment of any disability retirement benefit, shall
require proof that the Participant is disabled as
provided herein and such other proof as it may
decide, including the certificate of one or more
duly licensed physicians selected by the Board,
that the Participant is totally and permanently
disabled on his Disability Retirement Date within
the definition of disability under Section 3.03-A(2).
Once each year after commencement of disability re-
tirement benefits the Board may similarly require
proof of the continued disability of the Participant.
The decision of the Board on all such questions shall
be final and binding.
(5) Disability Retirement Benefit
(a) Basic Benefit: The monthly retirement benefit
payable to a Participant on his Disability Re-
tirement Date shall be an amount equal to 25%
of his Average Earnings determined as of his
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Disability Retirement Date,reduced by any
monthly payment received under Workmen's
Compensation, or if Workmen'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 Board,
for the amount to which the Participant 1S
eligible under Workmen's Compensation.
(b) Adjusted Benefit: The amount of monthly retire-
ment benefit provided under paragraph (5) (a)
above, shall be adjusted by the cost-of-living
adjustment as provided in Section 3.06 upon
commencement of retirement income payments.
(6) Payment of Disability Retirement Benefit: The re-
tirement benefit to which a Participant is entitled
in the event of his 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 earlier of (a) his date of death,
subject to the provisions of Section 4.02 or (b) the
cessation of his disability prior to his Normal Re-
tirement Date.
(7) Termination of Disability Retirement Benefit: If the
Participant's disability ceases prior to his Normal
Retirement Date and he does not reenter the employ of
-
.
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the County within 60 days after his recovery, all
rights of the Participant in and to a disability re-
tirement benefit shall cease and he shall be entitled
solely to the benefits, if any, provided in:
(a) Section 3.02, if he had satisfied the require-
ments for early retirement as of the date of
inception of disability, or
(b) Section 3.05, if he had not satisfied the
requirements for early retirement,
and either such benefit shall be based on his Credited
Service and Average Earnings as of the date of inception
of disability.
If the Participant's disability ceases prior to his
Normal Retirement Date and he is reemployed by the
County within 60 days following the date such disability
ceases, his employment will be deemed to have been
continuous but 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.
B. Non-Employment Connected Disability: If a Participant
becomes totally and permanently disabled, as defined in
Section 3.03-A(2), from a cause (i) not arising out of
and in the course of his employment and (ii) other than
specified in Section 3.03-A(3) after the completion of
3-8
five or more years of Credited Service, he shall be
entitled to a disability benefit in accordance with the
following provisions of this section.
(1) Disability Date and Proof of Disability: The Dis-
ability Retirement Date of a Participant shall be.
the date defined ln Section 3.03-A(1). Proof of
disability shall be the same as that required in
Section 3.03-A(4).
(2) Disability Benefit
(a) Basic Benefit: The monthly retirement benefit
payable to a Participant on his Disability Re-
tirement Date shall be an amount equal to 1%
of his Average Earnings multiplied by his
Credited Service up to his Disability Retirement
Date, reduced by any monthly payment received
under Workmen's Compensation, or if Workmen'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 de-
termined by the Board, for the amount to which
the Participant is eligible under Workmen's
Compensation.
(b) Adjusted Benefit: The amount of monthly retire-
ment income provided under paragraph (2) above,
shall be adjusted by the cost-of-living adjustment
3-9
as provided in Section 3.06 upon commencement
of retirement income payments.
(3) . Payment of Disability Benefit: The monthly retirement
benefit to which a Participant is entitled under
Section 3.03-B(2) in the event of his disability shall
be payable on the first day of each month. The first
payment shall be made as of the Participant's Disability
Retirement Date, and the last payment shall be the
payment due next preceding the earlier of (a) his date
of death, subject to the provisions of Section 4.02 or
(b) the cessation of his disability prior to his Normal
Retirement Date.
(4) Termination of Disability Benefit: If the Participant's
disability ceases prior to his Normal Retirement Date
and he does not reenter the employ of the County within
60 days after his recovery, all rights of the Partici-
pant in and to a disability retirement benefit shall
cease and he shall be entitled solely to the benefits
provided in:
(a) Section 3.02, if he had satisfied the requirements
for early retirement as of the date of inception
of disability, or
(b) Section 3.05, if he had not satisfied the require-
ments for early retirement,
and either such benefit shall be based on his Credited
Service and Average Earnings as of the date of inception
of disability.
3-10
If the Participant recovers from'disabili~y prior
to his Normal Retirement Date and returns to the
employ of the County within 60 days following the
date of such recovery, his employment will be deemed
to have been continuous but the period beginning with
the first month for which he received a disability
benefit to the date of reemployment will not be,
considered as Credited Service for purposes of the
Plan.
3.04 Delayed Retirement
Delayed retirement under the Plan is retirement from the
employ of the County after the Normal Retirement Date. A
Participant may remain in the active employ of the County beyond
his Normal Retirement Date only at the request of the Board and
for such periods of additional employment as shall be mutually
agreed upon. In the event of delayed retirement, payment of the
retirement benefit shall be governed by the following provisions
of this section.
A. Delayed Retirement Date: The Delayed Retirement Date of
a Participant shall be the first day of the month coincident
with or immediately following the date he actually retires
from the employ of the County after his Normal Retirement
Date.
B. Amount of Retirement Benefit: The monthly retirement benefit
payable to a Participant who retires on his Delayed Retire-
ment Date shall be an amount computed in the same manner
3-11
as for normal retirement in accordance with Section
3.01-B, but based on Credited Service and Average
Earnings as of his actual retirement date; provided,
however, such amount shall not be less than the
monthly benefit the Participant would have received
had he retired on his Normal Retirement Date.
C. Payment of Retirement Benefit: The retirement benefit
payable in the event of delayed retirement shall be
payable on the first day of each month. The first payment
shall be made on the Participant's Delayed Retirement Date
and the last payment shall be the payment due next pre-
ceding his date of death, subject to the provisions of
Section 4.02; provided, however,a Participant may modify
the amount and conditions of payment by electing an optional
form of payment in accordance with Section 5.
3.05 Termination of Employment
A. A Participant who terminates employment with the County
prior to the completion of 10 years of Credited Service,
for any reason other than death or retirement, shall re-
ceive a lump-sum cash amount equal to the total of his
Contributions with interest, payable within 60 days
following his date of termination.
B. A Participant who terminates employment with the County
for any reason other than death or early retirement after
the completion of at least 10 years of Credited Service,
3-12
shall receive a deferred retirement benefit co~encing
on his Normal Retirement Date, provided he is then alive,
equal to the monthly benefit computed in the same manner
as for normal retirement in accordance with Section 3.01-B(1)
but determined as of his date of termination, multiplied
by the applicable percentage based on completed years of
Credited Service in accordance with the following table:
Complete Years
of Credited Service
at Termination Date
Applicable Percentage
of Monthly
Benefit Payable
Less than 10
10
11
12
13
14
15 or more
0%
50
60
70
80
90
100%
C. The amount of monthly retirement income provided under
paragraph B above, shall be adjusted by the cost-of-living
as provided in Section 3.06 upon commencement of retirement
income payments.
D. The retirement benefit payable in the event of termination
of employment under Section 3.0S-B shall be payable on the
first day of each month. The first payment shall be made
on the Participant's Normal Retirement Date and the last
payment shall be the payment due next preceding his date
of death, subject to the provisions of Section 4.02.
E. In lieu 0= the deferred monthly retirement benefit provided
in Section 3.0S-B above, the terminated Participant may
elect to receive a lump-sum amount equal to the total of
. .
3-13
his Contributions with interest, such amount t~ be payable
within 60 days following the date of termination.
F. If a terminated Participant entitled to the deferred
monthly retirement benefit provided in Section 3.05-B
dies prior to the commencement of such benefit, his
Beneficiary shall receive a lump sum amount equal to the
total of his contributions with interest, such amount
to be payable within 60 days fOllowing his date of death.
3.06 Cost-of-Living Adjustment of Benefits
A. Definition of Terms Used in This Section
(1) "Current Cost-of-Living Index:" means the average
of the monthly Consumer Price Index for the 12 month
period ending December 31 each year as determined
by the Bureau of Labor Statistics of the United
States Department of Labor for all items and major
groups, United States city average.
(2) '~Participant Base Index" for any Participant who
dies or retires under the provisions of the Plan
on or after January I, 1977, means the average of
the Consumer Price Index for the 12 month period
ending prior to the date of death or retirement.
In the event the base year used in computing the
monthly Consumer Price Index should be changed by
the Bureau of Labor Statistics, the Board shall,
with the advice of the Plan actuary, adjust the
. .
3-14
..
Participant Base Index of each retired Participant
with benefit payments commencing during the first
year in which such change was made so as to effect
the original intent of this section in an equitable
manner.
(3) "Adjusted Participant Index" means the Participant
Base Index adjusted for all percentage adjustments
made in benefits prior to the current Annual Adjustment
Date.
(4) "Annual Adjustment Date" means March 1 of each year
commencing March 1, 1977 as to any Participant who
dies or retires on or after January 1, 1977.
B. Annual Adjustment
The Board shall ascertain the Current Cost-of-Living
Index as of January 1 each year and the benefits being
paid under Sections 3, 4 or 5 to any Participant, Bene-
ficiary or Joint Annuitant, as previously adjusted under
this section, shall be further adjusted as of the Annual
Adjustment Date as follows:
(1) If the Current Cost-of-Living Index is more than 100%
of the Adjusted Participant Index, the benefit shall
be increased by a percentage equal to the difference
between (a) the percentage representing the Current
Cost-of-Living Index divided by the Adjusted Partici-
pant Index and (b) 100%.
3-15
(2) If the Current Cost-of-Living Index is less than 100%
of the Adjusted Participant Index, the benefit shall
remain unchanged.
(3) Notwithstanding the foregoing provisions of this section,
no increase in the amount of the monthly retirement benefit
due to changes in the Current Cost-of-Living Index,
effective at any Annual Adjustment Date, shall be in.
excess of 3% of the amount of the monthly retirement
benefit payable immediately prior to such date.
3.07 Payment of Small Benefits
If a Participant's monthly benefit payable under any
provision of Section 3 is less than $20 per month, the
actuarially determined equivalent of such monthly benefit
may be paid ln a single-sum cash settlement.
4-1
~
SECTION 4
DEATH BENEFITS
4.01 Death Prior to Retirement
A. Non-duty Connected Death
If the employment of a 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 per-
forming the prescribed duties of his job, there shall be
payable to his surviving spouse or, if no spouse survives,
to his designated Beneficiary, a lump-sum cash amount
equal to the total amount of the Participant's Contributions
with interest.
B. Duty Connected Death
(1) If the employment of a Participant lS 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 Partici-
pant, the spouse (if any) of such deceased Partici-
pant will receive a monthly benefit equal to 25%
of the Participant's Average Earnings at date of
death, such benefit to commence on the first day
of the month following the last payment of (a) any
monthly benefits provided under the Workmen's Com-
pensation Laws of Georgia, or (b) if paid in a lump-
sum amount, the last monthly payment which would
4-2
otherwise be payable if such lump~sum pay~ent is
equitably adjusted on the basis of the monthly
amount to which the Participant would be entitled
under such law. The monthly benefit shall be
payable until the spouse of the deceased Participant
dies or remarries; provided, however, in the event
of the spouse's death while a minor child or chi.ldren
of the deceased Participant survive, the same monthly
benefit shall continue for the benefit of such child
or children, in equal monthly shares, to the
earlier of (a) the marriage or (b) attainment of age
18 as to each child.
(2) In the event of the death of a Participant described
in paragraph B (1) above, who does not leave a
surviving spouse but leaves a surviving child or
children, the legal guardian of such children shall
receive on their behalf the benefits provided in
paragraph B (1) above.
(3) If no spouse or children survive the deceased Partici-
pant, a lump-sum cash amount equal to the total amount
of the Participant's Contributions with interest
shall be paid to his designated Beneficiary.
. .
4-3
"
4.02 Death After Retirement
If a Participant dies subsequent to his retirement and
had not elected an optional form of payment in accordance with
Section 5, or had elected to receive a deferred benefit under
Section 3.02-B(I) or Section 3.05-B but such benefit had not
commenced, his Beneficiary shall receive a lump-sum cash
amount equal to the excess, if any, of (a) the Participant's
Contributions with interest, over (b) the total monthly
payments, if any, made to the Participant prior to his date
of death, such amount to be payable within 60 days following
the Participant's date of death.
4.03 Adjusted Benefit
The amount of monthly retirement benefit provided under
this Section 4 shall be adjusted by the cost-of-living
adjustment as provided in Section 3.06 upon commencement
of such benefit.
4.04 Designation of Beneficiaries
A. Each Participant shall designate a Beneficiary to receive
the benefits, if any, which may be payable in the event
of his death pursuant to the provisions of Section 4 or
5. Such designation shall be made in writing on a
form provided by the Board and shall be signed and filed
with the Board. The Participant may change his designation
from time to time by filing the proper form with the
Board, ar.d each change shall revoke all prior designations
by the Participant. In each such designation the Partici-
4-4
pant may name one or more primary Beneficiaries and
one or Dore contingent Beneficiaries. If no Beneficiary
designated by the Participant survives him, the Board
may direct the payment of such benefits to (a) the
spouse of the deceased, if living; otherwise, to (b)
the descendents of the deceased Participant per stirpes
or on their behalf as provided in Section 10.04; or .
if none, to (c) the legal representative of the estate
of the deceased Participant.
B. In the event of the death of a Beneficiary who survives
the Participant and who, at his or her death, is receiving
benefits as described in A immediately above, the remaining
benefits, if any, shall be payable to a person designated
by the Participant to receive the remaining benefits, or,
if no person was so designated, then to a person designated
by the Beneficiary of the deceased Participant; provided,
however, that if no person so designated be living upon
the occurrence of such contingency, the remaining benefits;
if any, shall be payable to (a) the spouse of the deceased
Participant, if living; otherwise to (b) the descendents
of the deceased Beneficiary per stirpes or on their behalf
as provided in Section 10.04; or if none, to (c) the legal
representative of the estate of the deceased Beneficiary,
as the Board in its sole discretion may determine.
4-5
c. In the event the Board does not direct the payments as
specified in A or B immediately above, the Board may
elect to have a court of applicable jurisdiction de-
termine to whom payments should be made, and shall
follow such instructions as the court may give.
5-1
SECTION 5
OPTIONAL FORMS OF RETIREMENT INCOME
5.01 Election of Optional Retirement Benefits
A Participant may elect, or may revoke a previous election
and make a new election, at any time 30 days or more prior to
his Normal Retirement Date, Early Retirement Date or Delayed
Retirement Date, whichever is applicable, to have his retirement
benefit payable under one of the options hereinafter set forth
in lieu of the retirement benefit he is otherwise entitled to
receive under Section 3.01, 3.02 or 3.04. The benefit shall
be paid in accordance with the terms of such option elected.
Election of any option shall be made by the Participant in writing
and shall be subject to approval by the Board. No optional
election is available for Disability Retirement (Section 3.03).
5.02 Description of Options
The amount of any optional retirement benefit set forth
below shall be the Actuarial Equivalent of the amount of benefit
that would otherwise be payable to the Participant under the
applicable provision of Section 3 without regard to any future
cost-of-living adjustments.
Option A - Ten Years Certain and Life Option: An adjusted
monthly retirement benefit payable to the Participant
during his lifetime and, in the event of his death within
a period of ten years after his retirement, the same
monthly amount shall be payable for the remainder of such
ten year period to his Beneficiary.
5-2
Option B Joint and Last Survivor Option: An adjusted
monthly retirement benefit which shall be payable during
the joint lifetime of the Participant and his Joint
Annuitant, with a previously designated percentage
(100%, 75% or 50%) of the benefit amount continuing
after the death of either during the lifetime of the
survivor.
The amount of monthly retirement benefit payable under
any option selected in accordance with the provisions of
this section shall be adjusted by the cost-of-living ad-
justment as provided In Section 3.06; provided, however,
that if payments are to be made to an estate the commuted
value of such payment shall be made in lieu of continuation
of monthly payments. Such commuted value shall be equal
to the amount of the lump-sum value of the remaining
monthly payments in the amount of the last monthly payment,
discounted on such actuarial tables as may be adopted by
the Board, ignoring any future cost-of-living adjustments.
5.03 Joint Annuitant or Beneficiary
A Participant who elects Option A shall, on a form provided
for that purpose, designate (in accordance with Section 4.04) a
person to receive benefits payable in the event of his death.
Such person(s) shall be the Beneficiary of the Participant.
A Participant who elects Option B with benefits payable
aft~r his death for another person's lifetime shall, on a form
provided for that purpose, designate a person to receive the
. .
,
5-3
benefits which continue to be payable upon the death of the
Participant. Such person shall be the Joint Annuitant of the
Participant.
5.04 Cancellation of Election
The election by a Participant of Option B shall be null
and void if either the Participant or his designated Joint
Annuitant should die before benefits commence.
6-1
SECTION 6
CONTRIBUTIONS
6.01 County Contributions
Contributions by the County shall be paid to the Trustee
at such times and in such amounts as shall be determined by
the County, based upon the recommendations of an actuary. ,
County contributions paid into the Fund shall be used only
for the benefit of the Participants and beneficiaries under
the Plan.
6.02 Participant Contributions
A. Each Employee who desires to become a Participant in ~he
Plan shall contribute to the Fund an amount equal to 4%
of his Earnings. Contributions by the Participant shall
cease at the earlier of (a) his date of termination of
employment for any reason and (b) his actual retirement
date.
Participant Contributions shall be made by payroll
deduction and ln such manner as determined by the Board.
B. A Participant may withdraw his Participant Contributions
after filing a written application with the Board, on
a form provided by the Board and subject to the following
conditions:
(1) Such withdrawal shall be effective 60 days following
the date such written application is filed with
the Board.
6-2
(2) A Participant who withdraws his Contributions wili
be considered to have discontinued further Contri-
butions to the Plan as of the date the withdrawal
is effective, and he may not again become a con-
tributor to the Plan for a period of 12 months
following the date of such withdrawal.
(3) A Participant who withdraws his Contributions from
the Plan as stated above shall forfeit all Credited
Service accrued up to the date of withdrawal, unless
he again becomes a contributor to the Plan and repays
to the Fund within 12 months from the date he commences
Contributions the amount equal to the Contributions
plus interest previously withdrawn by the Participant.
That period from date of withdrawal to date of repayment
of Contributions shall not constitute Credited Service.
7-1
SECTION 7
ADMINISTRATION OF PLAN
7.01 Administration
A. Powers of Board: The Board shall control the administration
of the P:an hereunder, with all powers necessary to enable
it properly to carry out its duties in that respect. , Not
1n limitation, but in amplification of the foregoing, the
Board shall have the power to construe said Plan and to
determine all questions that shall arise thereunder, and
shall also have all the powers elsewhere herein conferred
upon it. It shall decide all questions relating to the
eligibility of Employees to participate in the benefits
of the Plan, and shall determine the benefits to which
any Participant, Beneficiary or Joint Annuitant may be
entitled under the Plan. The decisions of the Board
upon all matters within the scope of its authority shall
be final and binding upon all parties to this instrument,
Participants and their Beneficiaries and Joint Annuitants.
B. Records of Board: All acts and determination of the Board
shall be duly recorded by the Clerk, or under his super-
vision, and all such records, together with such other
documents as may be necessary for the administration of
the Plan shall be preserved in the custody of such Clerk.
.<11 ,J
7-2
C. Exemption from Liability of Board: The members of the
Board, and each of them, shall be free from all liability,
joint and several, for their acts, omissions and conduct,
and for the acts, omissions and conduct of their duly
constituted agents, in the administration of the Plan,'
and the County shall indemnify and save each of them harm-
less from the effects and consequences of their acts;
omissions and conduct in their official capacity, except
to the extent that such effects and consequences shall
result from their own willful misconduct.
D. Miscellaneous: The Board shall prepare and distribute
to the Employees information concerning the Plan, at the
expense of the County, in such manner as it shall deem
appropriate.
To enable the Board to perform its functions, the
County shall supply full and timely information of all
matters relating to the compensation and length of
service of all Participants, their retirement, death or
other cause of termination of employment, and such other
pertinent facts as the Board may require.
The Board shall be entitled to rely upon all tables,
valuations, certificates and reports furnished by an
actuary, who shall be a member of the American Academy
of Actuaries, or an organization which one or more
members is a member of the American Academy of Actuaries
7-3
~
and upon all certificates and reports made by an accountant
selected or approved by the Board. The Board shall be fully
protected in respect to any action taken or suffered by
it in good faith in reliance upon the advice or opinion
of any actuary, accountant or attorney, and all action' so
taken or suffered shall be conclusive upon each member
of the Board and upon all persons interested in the Plan.
8-1
SECTION 8
TRUST FUND AND TRUSTEES
8.01 Trust Fund
The assets of the Fund shall be held, administered and.
invested by the Board. The Fund shall consist of all payments
by the County and Participants to the Fund as provided in.
Section 6 and earnings from investments. The assets of the
Fund shall be valued as of the end of each Plan Year, and at
any other time required by the Board, at the then existing
book and market value.
The Trustee shall maintain a separate permanent record
of the Fund. All decisions of the Board and ~he Trustee in
regard to the Fund or any payments or withdrawals therefrom
shall be entered on the permanent record kept by the Trustee
and such permanent record shall be open to inspection by any
interested person at all regular business hours.
The Board shall keep the Trustee and Clerk of the Board
bonded at all times in an amount equal to the total Fund in
the possession of or under the control of either; provided,
however, that such bond shall not exceed $200,000 as to each
party. The bonds shall also cover any person acting for the
Trustee or Clerk who in any manner handles any assets of the
Fund or has any discretionary authority regarding same.
8-2
~
8.02 Amendment of Trust
The County shall have the right at any time, by an
instrument in writing duly executed by the Board and to the
Trustee, to modify, alter or amend this Plan and Trust in
whole or in part; provided, however, that the duties, powers
and liability of the Trustee hereunder shall not be substantially
increased without its written consent, and provided further,
that no such amendment shall have the effect of revesting in
the County any part of the principal or income of the Fund.
8.03 Discontinuance of Trust and Vesting
The County expressly reserves the right to terminate this
Plan and Trust Agreement at any time. Upon termination of the
Plan by the County, or complete discontinuance of Contributions
thereunder, having the effect of termination, the rights of
each Participant to benefits accrued to the date of such term-
ination or discontinuance, to the extent then funded, shall
be nonforfeitable. In either case the Trustee shall, upon
instructions from the County, continue to administer the Fund
as provided in Section 9.02. No part of the Fund shall at
any time revert to the County unless all benefits for Partici-
pants and their Payees have been provided.
8.04 Powers of Trustee
The Trustee shall have the following power and authority
ln the administration of the Fund to be exercised in accordance
with and subject to the provisions of Section 8.05 hereof.
8-3
~ .
A. Purchase of Property: To purchase, or subscribe' for,
only the securities, stocks, bonds or other property
specified in Section 8.05 and to retain the same in
the Fund.
B.. Sale, Exchange, Conveyance and Transfer of Property:
To sell, exchange, convey, transfer, or otherwise dispose
of any securities or other property held by it, by private
contract or at public auction. No person dealing with
the Trustees shall be bound to see the application of
the purchase money or to inquire into the validity, expe-
diency or propriety of any such sale or other disposition.
C. Exercise of Owner's Rights: To vote upon any stocks,
bonds or other securities; to give general proxies or
powers of attorney with or without power of substitution;
exercise any conversion privileges, subscription rights,
or other options, and to make any payments incidental
thereto; to oppose or consent to, or otherwise to partici-
pate in, corporate reorganizations or other changes
affecting corporate securities, and to delegate discretionary
powers, and to pay any assessments or charges in connection
therewith; and generally to exercise any of the powers
of any owner with respect to stocks, bonds, securities,
or other property held as part of the Fund.
D. Retention of Cash: To keep such portion of the Fund in
cash or cash balances as the Trustee may, from time to
time, deem to be in the best interest of the Fund, without
liaqility for ihterest thereon.
...
8-4
E. Execution of Instruments: To make, execute, acknowledge,
and deliver any and all documents of transfer and con-
veyance and any and all other instruments that may be
necessary or appropriate to carry out the powers herein
granted.
F. Settlement of Claims and Debts: To settle, compromise,
or submit to arbitration any claims, debts, or damages
due or owing to or from the Fund, to commence or defend
suits or legal administrative proceedings, and to repre-
sent the Fund in all suits and legal and administrative
proceedings, and any expenses incurred for such proceedings
shall be paid by the County.
G. Employment of Agents and Counsel: To employ suitable agents
and counsel and pay their reasonable expenses and compen-
sation.
H. Power to do Any Necessary Act: To do all such acts, take
all such proceedings and exercise all such rights and
privileges, although not specifically mentioned herein,
as the Trustee may deem necessary to administer the Fund,
and to carry out the purposes of this Trust. To serve
without being required to file any returns or reports
of any kind with any court.
8.05 Investment of Fund
The Trustee is authorized to deposit funds held by it
with any bank located in Richmond County, Georgia, as depository.
The Trustee shall have authority to invest and reinvest assets
~ ...
8-5
of the Fund held for the purpose of paying benefits, but which
1S not needed for the immediate payment thereof, as determined
by the Trustee, in securities of The United States of America,
including securities of agencies of said government; of the
State of Georgia; of Richmond County; or any other county or
munic~pality of the State of Georgia; or insured savings in
savings and loan associations and State and National Banks;
corporate bonds and debentures or other evidence of indebtedness
assumed or guaranteed by any solvent institution existing under
the laws of the United States of America or any state thereof,
which are not in default as to principal or interest and
which are secured by collateral worth at least 50 per cent more
than the par value of the entire issue of such obligations, but
only if not more than one-third of the total value of such
required collateral consists of common stock. The Board may
also invest in corporate stocks which are non-assessable
dividend paying stocks, common or preferred, of any solvent
corporation created or existing under the laws of the United
States or any state thereof; provided cash dividends of
such common stocks shall have been paid out of current earnings
in at least two of the last three years preceding the purchase,
and provided further, that the Fund shall not own more than
(a) 10% of the issued and outstanding shares of anyone corpor-
ation or (b) an aggregate of more than 25% of the issued and
outstanding shares of corporate stock of any number of corpor-
attons.
..
8-6
Withdrawal from the Fund for investment purpos~sshall
be accomplished by vouchers drawn by any of the individual
trustees, countersigned by the Chairman of the Board or
his designee as Trustee.
8.06 Taxation
The Board is authorized to levy a tax from time to time
sufficient to pay the benefits provided under the terms of
the Plan. Liabilities of the Fund for the payment of benefits
shall be determined by the Board, based upon the recommendations
of an actuary.
8.07 Resignation of Trustee
The Trustee may resign as Trustee'of the Trust at any time
by giving sixty days written notice to the County, or with the
consent of the County, may resign at any time. At such time
as the resignation becomes effective, the Trustee shall render
to the County an account of its administration of the Fund during
the period following that covered by its last annual accounting,
and shall perform all acts necessary to transfer and deliver
the assets of the Fund to its successor.
8.08 Successor Trustees
In the event of vacancy of one or more individuals in the
trusteeship of this Trust occurring at any time, the Board
shall designate and appoint qualified successor trustee(s)
until such individuals are elected by the electorate.
. ~.
8-7
8.09 Liability of Trustee
The Trustee shall not be liable for the making, retention
or sale of any investment authorized hereunder nor for a failure
to make, retain or sell any investment nor shall the Trustee
be liable. for any loss to or diminishment of the Fund, except
as shall be due to its own willful misconduct or lack of good
faith. The Trustee shall not be required to make any inventory,
appraisal or report to any court, or to secure any order of
court for the exercise of any power herein contained.
8.10 Disbursements
Upon written direction (which may be a continuing one)
from the Board as to the name of any person to whom money is
to be paid from the Fund and the amount thereof, checks shall be
drawn by the Trustee in the name of the person designated
by the Board and deliver such checks in such manner and amounts
and at such time as the Board shall direct. In the event
the Trustee shall deem it necessary to withhold any distribution
pending compliance with legal requirements with respect to
probate of wills, appointment of personal representatives,
payment of or provision for estate or inheritance taxes,
or for death duties or otherwise, the Trustee shall withhold
payment pending receipt of the instructions from the County
'Attorney to make such distribution.
. ~.
9-1
SECTION 9
AMENDMENT AND TERMINATION
9.01 Amendment of the Plan
The County shall have the right at any time pursuant to
authorization of the Board, to amend any or all of the pro-
visions of the Plan; provided, however, that no such amendment
shall authorize or permit any part of the Fund to be diverted
to purposes other than for the exclusive benefit of Participants
and their Payees; and further provided, that no amendment shall
have the effect of revesting in the County any portion of such
Fund except such amounts which remain in the Fund after
termination of the Plan and after all liabilities under the
Plan have been satisfied.
9.)2 Termination of the Plan
The Couhty expects this Plan to be continued indefinitely
but, of necessity, reserves the right to terminate the Plan
and its Contributions thereunder at any time by action of the
Board; provided, however, that should the County terminate
the Plan or completely discontinue Contributions hereunder
so as to amount to a Plan termination, the accrued benefit
of each Participant, to the extent then funded, shall become
fully vested and nonforfeitable as of the date of termination.
In the event of termination of the Plan and upon receipt
of written notice of such termination, the Board shall arrange
for the Fund to be arportioned and distributed in accordance
with the following procedure:
.~.
9-2
A.
The Board shall determine the date of distribution and
asset value of the Fund to be distributed, taking into
account the expenses of distribution.
The Board shall determine the method of distribution of
the asset value -- that is, whether distribution to each
Participant or Payee entitled to benefits shall be by
payment in a lump-sum cash amount, the purchase of an
annuity from an insurance company, or otherwise.
The Board shall apportion the asset value in the priority
and manner set forth below, on the basis that the amount
required to provide any given retirement benefit shall
mean the actuarially computed single-sum value of such
benefit, except that if the method of distribution deter-
mined under B involves the purchase of an insured annuity,
the amount required to provide the given retirement benefit
shall mean the single premium payable for such annuity:
(1) An amount equal to each Participant's Contributions
under the Plan with interest, less the aggregate
amount of any benefit payments previously made
with respect to such Participant, will be determined
and such amount apportioned from the asset value.
Such asset value, if insufficient to provide such
amounts in full will be apportioned among such
Participants ~n proportion to the amounts determined
with respect to them.
B.
C.
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(2) If there be any asset value remaining after the
apportionment under (1) above, apportionment shall
next be made with respect to each retired Partici-
pant receiving a retirement benefit hereunder on
such date, each person receiving a retirement benefit
on such date on account of a retired (but since
deceased) Participant, each Participant who has, by
such date, reached his Normal Retirement Date but has
not yet retired, in the amount required to provide
such retirement benefit as of the date of termination
of the Plan, less any apportionment made in (1) above,
provided that, if such remaining asset value be less
than the aggregate of such amounts, such amounts
shall be proportionately reduced so that the aggregate
of such reduced amounts will be equal to such asset
value.
(3) If there be any asset value remaining after the
apportionments under (1) and (2) above, apportionment
shall next be made with respect to each active partici-
pant on such date who has reached his Early Retirement
Date but has not yet retired, in the amount required
to provide such retirement benefit as of the termination
date of the Plan, less any apportionment in (1) above,
provided that, if such remaining asset value be less
than the aggregate of the amounts apportioned hereunder,
such latter amounts shall be proportionately reduced
so that the aggregate of such reduced values will be
equal to such remaining asset value.
.. . ....
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(4) If there be any asset value remaining after the
apportionments under (1), (2) and (3) above,
apportionment shall next be made with respect to
each active Participant on such date who has
completed at least 10 years of Credited Service
and each former Participant then entitled to a
deferred benefit under Section 3.05-8 hereof who
has not, by such date, reached his Normal Retirement
Date, none of whom is entitled to an apportionment
under (2) above, in the amount required to provide
the actuarially determined value of the accrued
benefit as of the termination date of the Plan, less
any apportionment ln (1) above; provided that, if
such remaining asset value be less than the aggregate
of the amounts apportioned hereunder, such latter
amounts shall be proportinately reduced so that the
aggregate of such reduced values will be equal to
such remaining asset value.
(5) If there be any asset value remaining after apportion-
ments under (1), (2), (3) and (4) above, apportionment
shall lastly be made with respect to each active
Participant on such date who is not entitled to an
apportionment under (2), (3) or (4) above, in the
amount required to provide the actuarially determined
value of the accrued benefit as of the date of termi-
nation of the Plan, less any apportionment in (1)
.
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above; provided that, if such remaining asset value
be less than the aggregate of the amounts apportioned
. hereunder, such latter amounts shall be proportionately
reduced so that the aggregate of such reduced values
will be equal to such remaining asset value.
(6) In the event that any asset value remains after the
full apportionments specified in paragraphs C(l)" (2),
(3), (4), and (5) above, such excess shall revert
to the County.
D. The Board shall cause to be distributed, in accordance with
the manner of distribution determined under B above, the
amounts apportioned under C above.
.
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SECTION 10
MISCELLANEOUS
10.01 Headings
The headings and subheadings in this Plan have been inserted
for convenlence of reference only and are to be ignored ln any
construction of the provisions hereof.
10.02 Construction
In the construction of this Plan the masculine shall include
the feminine and the singular the plural in all cases where such
meanings would be appropriate.
This Plan shall be construed in accordance with the laws
of the State of Georgia.
lO.03 Spendthrift Clause
To the extent permitted by law, none of the benefits, pay-
ments, proceeds or distributions under this Plan shall be subject
to the claim of a creditor of any Participant, Beneficiary or
Joint Annuitant hereunder, or to any legal process by any creditor
of such Participant or Payee; and neither shall such parties
have any right to alienate, commute, anticipate or assign any
of the benefits, payments, proceeds or distributions under this
Plan except to the extent expressly provided herein to the
contrary. If any Participant shall attempt to dispose of the
benefits provided for him hereunder, or to dispose of the
right to receive such benefits, or in the event there should be
an effort. to seize s~ch benefits or the right to receive such
benefits by attachment, execution or other legal or equitable
. .
10-2
. .'
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process, such right may pass and be transferred, at the dis-
cretion of the Board, to such one or more as may be appointed
by the Board from among the Beneficiaries or Joint Annuitants,
if any, there~ofore designated by the Participant, or from
the spouse, children or other dependents of the Participant,
in such shares as the Board may appoint. Any appointment so
made by the Board may be revoked by it at any time and further
appointment made by it which may include the Participant.
10.04 Legally Incompetent
If any Participant or Payee is a minor, or, in the judgment
of the Board is otherwise legally incapable of personally re-
ceiving and giving a valid receipt for any payment due him
hereunder, the Board may, unless and until claim shall have
been made by a duly appointed guardian or committee of such
person, direct that such payment or any part thereof be made
to such person's spouse, child, parent, brother or sister or
other person deemed by the Board to have incurred expense
for or assumed responsibility for the expenses of such person.
Any payment so made shall be a complete discharge of any
liability under this Plan for such payment.
10.05 Benefits Supported Only By Fund
Any person having any claim under the Plan will look solely
to the assets of the Fund for satisfaction.
In no event will
the County, or any of its officers, members of the Board or
agents, be liable in their individual capacities to any person
whomsoever, under the provisions of the Plan.
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4
10-3
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.
10.06 oiscimination
The County, through the Board, shall administer the Plan
in a uniform and consistent manner with respect to all Partici-
pants and shall not permit discrimination in favor of officers,
supervisory or highly paid Employees.
10.07 Limitation of Liability; Legal Actions
It is expressly understood and agreed by each Employee who
becomes a Participant hereunder, that except for its or their
willful negligence or fraud, neither the County, the Trustee,
nor the Board shall be in any way subject to any suit or
litigation, or to any legal liability, for any cause or reason
whatsoever, in connection with this Plan or its operation, and
each such Participant hereby releases the County, Trustee,
Board and all its officers and agents from any and all liability
or obligation.
10.08 Claims
Any payment to a Participant, Joint Annuitant or Beneficiary,
or to their legal representatives, in accordance with the pro-
vision of this Plan, shall to the extent thereof be in full
satisfaction of all claims hereunder against the Board, Trustee
and the County, any of whom may require such Participant, Bene-
ficiary or legal representative, as a condition precedent to
such payment, to execute a receipt and release therefor in
such form as shall be determined by the Board.
",
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10.09 Forfeitures
Forfeitures arising from any cause whatsoever under this
Plan shall not be applied to increase the benefits any Partici-
pant would otherwise receive under the Plan at any time prior
to the termination of the Plan or the complete discontinuance
of County Contributions hereunder; forfeitures shall be applied
to reduce the County's Contributions under the Plan in the then
current or subsequent years.
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IN WITNESS WHEREOF, the County has caused this amended Plan to
be duly executed as of the ~ay of JVI~, 1976 but
/
effective as of January 1, 1977.
ATTEST:
RICHMOND COUNTY BOARD OF COMMISSIONERS,
AS EMPLOYER
12 ~ litl~
(~al) . Lester Newsome
Clerk
BY:~~Y.~~
Chairman . ~.
RICHMOND COUNTY BOARD OF COMMISSIONERS,
AS TRUSTEE
\.-1'1 ~1I-eQ~..
Vi~lialrman
<l._