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HomeMy WebLinkAboutORD 7593 GEORGIA MUNICIPAL EMPLOYEES BENEFIT SYSTEM_ DEFINED BENEFIT RETIREMENT PLAN- AN ORDINANCE AND ADOPTION AGREEMENT ORDINANCE NO. 7593 GEORGIA MUNICIPAL EMPLOYEES BENEFIT SYSTEM DEFINED BENEFIT RETIREMENT PLAN AN ORDINANCE and ADOPTION AGREEMENT for Augusta, Georgia Form Volume Submitter Adoption Agreement Amended and Restated as of January 1,2007 (With Amendments Effective Through January 1,2017) AugustaGMEBS Plan I(Amended Effective January 1,2017) TABLE OF CONTENTS PAGE I. AN ORDINANCE 1 II. GMEBS DEFINED BENEFIT RETIREMENT PLAN ADOPTION AGREEMENT 2 1. ADMINISTRATOR 2 2. ADOPTING EMPLOYER 2 3. GOVERNING AUTHORITY 2 4. PLAN REPRESENTATIVE 2 5. PENSION COMMITTEE 3 6. TYPE OF ADOPTION 3 7. EFFECTIVE DATE 4 8. PLAN YEAR 5 9. CLASSES OF ELIGIBLE EMPLOYEES 5 A. Eligible Regular Employees 65 B. Elected or Appointed Members of the Governing Authority 65 10. ELIGIBILITY CONDITIONS 76 A. Hours Per Week(Regular Employees) 76 B. Months Per Year(Regular Employees) 7 11. WAITING PERIOD 87 12. ESTABLISHING PARTICIPATION IN THE PLAN 8 13. CREDITED SERVICE 8 A. Credited Past Service with Adopting Employer 8 B. Prior Military Service 9 C. Prior Governmental Service 124-1- D. Leave Conversion for Unused Paid Time Off(e.g., Sick, Vacation, or Personal Leave) 1312 14. RETIREMENT ELIGIBILITY 154 A. Early Retirement Qualifications 1544 B. Normal Retirement Qualifications 15 C. Alternative Normal Retirement Qualifications 17 D. Disability Benefit Qualifications 20 15. RETIREMENT BENEFIT COMPUTATION 2221 A. Maximum Total Credited Service 2221 B. Monthly Normal Retirement Benefit Amount 2221 C. Monthly Early Retirement Benefit Amount 2524 D. Monthly Late Retirement Benefit Amount(check one): 2625 E. Monthly Disability Benefit Amount 26 F. Minimum/Maximum Benefit For Elected Officials 2726 16. SUSPENSION OF BENEFITSFOLLOWING BONA FIDE SEPARATION OF SERVICE; COLA 27 A. Re-Employment as Eligible Employee After Normal, Alternative Normal, or Early Retirement and Following —i— Augusta GMEBS Plan I(Amended Effective January 1,2017) Bona Fide Separation of Service(see Master Plan Section 6.06(c)Regarding Re-Employment as an Ineligible Employee and Master Plan Section 6.06(e) and(f) Regarding Re-Employment After Disability Retirement) 27 B. Cost Of Living Adjustment 2928 17. TERMINATION OF EMPLOYMENT BEFORE RETIREMENT; VESTING 30 A. Eligible Regular Employees 30 B. Elected or Appointed Members of the Governing Authority 31 18. PRE-RETIREMENT DEATH BENEFITS 3231 A. In-Service Death Benefit 3231 B. Terminated Vested Death Benefit 32 19. EMPLOYEE CONTRIBUTIONS 34 20. MODIFICATION OF THE TERMS OF THE ADOPTION AGREEMENT 35 21. TERMINATION OF THE ADOPTION AGREEMENT 3635 22. EMPLOYER ADOPTION AND AUTHORIZATION FOR AMENDMENTS 3635 —ii— Augusta GMEBS Plan I(Amended Effective January 1,2017) I. AN ORDINANCE An Ordinance to amend and restate the Retirement Plan for the Employees of Augusta, Georgia in accordance with and subject to the terms and conditions set forth in the attached Adoption Agreement, any Addendum to the Adoption Agreement, the Georgia Municipal Employees Benefit System (GMEBS) Master Plan Document, and the GMEBS Trust Agreement. When accepted by the authorized officers of the Augusta, Georgia Commission Council and GMEBS, the foregoing shall constitute a Contract between Augusta and GMEBS, all as authorized and provided by O.C.G.A. § 47-5-1 et seq. BE IT ORDAINED by the Augusta, Georgia Commission Council, and it is hereby ordained by the authority thereof: Section 1. The March 1, 1987 GMEBS Defined Benefit Retirement Plan for Certain Employees of Augusta, Georgia (Ordinance No. 5399; as amended by Ga. L 1988, p. 5415; Ordinance No. 5561, effective April 2, 1990; and Ordinance No. 5865) and the January 1, 1977 Defined Benefit Retirement Plan and Trust for certain Employees of Augusta (Ordinance No. 6655; as amended by Ordinance No. 6983 adopted June 19, 2007) (hereinafter referred to as "1977 Defined Benefit Retirement Plan" or "1977 DB Plan" or "1977 Plan") were previously amended and restated as set forth in and subject to the terms and conditions stated in the GMEBS Adoption Agreement and the Addendum to the Adoption Agreement which became effective January 1, 2008 (Ordinance No. 7017). The January 1, 2008 GMEBS Adoption Agreement and Addendum to the Adoption Agreement were amended and restated in the GMEBS Adoption Agreement and the Addendum to the Adoption Agreement which became effective June 16, 2009 (Ordinance No. 7136). Ordinance No. 7136 was amended by Ordinance No. 7251 concerning implementation of the March 30, 2011 Augusta Reorganization Plan and the 2011 RIF Policy. 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. Ordinance No. 7296 was superseded by Ordinance No. 7329, in which the GMEBS Adoption Agreement, General Addendum and Service Credit Purchase Addendum were amended and restated, effective March 6, 2012. Ordinance No. 7329 was superseded by Ordinance No. 7482, in which the GMEBS Adoption Agreement, General Addendum and Service Credit Purchase Addendum were amended and restated, effective March 17, 2015. Ordinance No. 7482 was superseded by Ordinance No. , in which the GMEBS Adoption Agreement, General Addendum and Service Credit Purchase Addendum were amended and restated, effective October 1, 2015. The Retirement Plan for the Employees of Augusta, Georgia, including all amendments referred to above, is hereby amended and restated again, as set forth in and subject to the terms and conditions stated in the following Adoption Agreement, any Addendum to the Adoption Agreement, the Georgia Municipal Employees Benefit System (GMEBS) Master Plan Document, and the GMEBS Trust Agreement. Ordinance continued on page 39 Augusta GMEBS Plan I(Amended Effective January 1,2017) II. GMEBS DEFINED BENEFIT RETIREMENT PLAN ADOPTION AGREEMENT 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 Name: Augusta, Georgia 3. GOVERNING AUTHORITY Name: Augusta, Georgia Commission Council Address: 535 Telfair Street,Augusta, Georgia 30901 Phone: (706)821-1820 Facsimile: (706)821-1838 4. PLAN REPRESENTATIVE [To represent Governing Authority in all communications with GMEBS and Employees] (See Section 2.49 of Master Plan) Name: Augusta, Georgia Administrator Address: 535 Telfair Street,Augusta, Georgia 30901 Phone: (706) 821-2400 Facsimile: (706) 821-2891 -2— Augusta GMEBS Plan I(Amended Effective January 1,2017) 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 Commission, Augusta, Georgia or, effective on or after January 1, 2015, his or her designee (the Clerk shall provide written confirmation to GMEBS in the event the Clerk appoints or changes a designee or revokes such designation). Address: 535 Telfair Street,Augusta, GA 30901 Phone: (706) 821-1820 Facsimile: (706) 821-1838 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 Adopting Employer's preexisting non-GMEBS 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 PPA, HEART, WRERA, and other applicable federal laws and guidance. ® To make the following amendments to the Adoption Agreement (must specify below revisions made in this Adoption Agreement): This is an amendment to: 1) implement the provisions of the "Settlement Agreement with General Release, Waiver and Covenant Not to Sue" entered into between Augusta, Georgia and Ms.Linda Goodman (see General Addendum subsection 15(tt)), 2) provide Chief Appraiser Alveno Ross with an additional five (5) years of Total Credited Service under the Plan for the purposes of satisfying minimum requirements for benefit eligibility under the Plan and computing any benefits payable under the Plan, pursuant to his July 26, 2010, employment agreement with the Richmond County Board of Assessors (see General Addendum subsection 15(ss)(ii)), 3) provide that Chief Appraiser Alveno Ross was immediately vested in his Normal Retirement Benefits (see Adoption Agreement, p. 31); 4) make participation in the Plan mandatory -3— Augusta GMEBS Plan I(Amended Effective January 1,2017) for all classes of eligible employees on or after October 1, 2017 (see General Addendum subsections 15(b) and 15(gg)),5) confirm that forms submitted to Augusta, Georgia, Richmond County, Georgia, or a prior administrator of a retirement plan sponsored by Augusta, Georgia or Richmond County, Georgia, prior to January 1, 2008, designating a Participant's pre- retirement beneficiary for retirement plan purposes will constitute Applicable Forms under this Plan for the purpose of determining the Participant's Primary and Secondary Pre-Retirement Beneficiaries, provided that such designations have not been and are not thereafter superseded by a subsequent Applicable Form designating the Participant's Primary and Secondary Pre-Retirement Beneficiary under this Plan (see General Addendum, Section 15(uu)), 6) conform certain Disability provisions applicable to all Participants, and terminated vested death benefits applicable to Class 2, Class 4 and Class 6 Participants, to recent Master Plan amendments (see General Addendum subsection 15(z) and subparagraph 15(aa)(iii)(B), and Adoption Agreement, pp 33-34, respectively), 7) provide for payment of in-service death benefits on behalf of Vested Class 6 Participants who die in-service on or after October 1, 2017, but not while actively performing his or her job (see General Addendum paragraph 15(aa)(iv)), 8) consistent with Sections 20.12 and 20.13 of the Master Plan, and subsection 15(rr) of the General Addendum, affirm that GMEBS is entitled to rely on information provided to it by the Employer and by the administrators of prior plans and will not be liable for reliance on said information (see General Addendum paragraph 15(ff)(i)), 9) provide that GMEBS may use information (e.g., benefit estimates) provided by prior plan adminsitrators to determine disability, death or Retirement benefits in the absence of information sufficient to independently calculate said benefits (see General Addendum paragraph 15(ff)(ii)), and 10) clarify that the rate of interest on a refund of Contributions made to purchase service credit will be the same as the rate of interest applied to a refund of mandatory Employee Contributions (see Service Credit Purchase Addendum, Section 12). 7. EFFECTIVE DATE NOTE: 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 Pension Protection Act of 2006 ("PPA"); the Heroes Earnings Assistance and Relief Tax Act of 2008 ("HEART"); and the Worker, Retiree, and Employer Recovery Act of 2008 ("WRERA"); and Plan provisions designed to comply with certain provisions of additional changes in federal law and guidance from the Internal Revenue Service under Internal Revenue Service Notice 2012-76 (the 2012 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 PPA, HEART, WRERA, and the 2012 Cumulative List with the applicable effective dates. -4— Augusta GMEBS Plan I(Amended Effective January 1,2017) (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. The effective date of this Plan is (insert effective date of this Adoption Agreement not earlier than January 1,2013). (2) 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, 2013). 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). (3) 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 January 1,2017 (insert effective date of this Adoption Agreement not earlier than January 1,2013). This Plan is adopted as an amendment and restatement of the Employer's preexisting GMEBS Adoption Agreement, which became effective on October 1, 2015 (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).) 8. PLAN YEAR Plan Year means (check one): ® Calendar Year p Employer Fiscal Year commencing p Other(must specify month and day commencing): 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). -5— Augusta GMEBS Plan I(Amended Effective January 1,2017) A. Eligible Regular Employees 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): 0 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; specific positions are permissible; specific individuals may not be named): Any Employee who is not included in a Participant Class as defined in subsection 15(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 "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 15(hh) of the General Addendum regarding treatment of employees of the Augusta- Richmond County Tax Commissioner's office. B. Elected or Appointed Members of the Governing Authority An Adopting Employer may elect to permit participation in the Plan by elected or appointed members of the Governing Authority and/or Municipal Legal Officers, provided they otherwise meet the Master Plan's definition of "Employee" and provided they satisfy any other requirements specified by the Adopting Employer. Municipal Legal Officers to be covered must be specifically identified by position. Subject to the above conditions, the Employer hereby elects the following treatment for elected and appointed officials: (1) Elected or Appointed Members of the Governing Authority(check one): ❑ ARE NOT eligible to participate in the Plan. ® ARE eligible to participate in the Plan. Please specify any limitations on eligibility to participate here (e.g., service on or after certain date, or special waiting period provision): With respect to elected or appointed members of the Governing Authority who held office as of October 1, 2007, they will participate in this Plan only if they elected (affirmatively or by default) to participate in this Plan in accordance with and subject to the election provisions of Sections 7.11-7.15 of the Addendum to the Adoption Agreement that became effective January 1, 2008 (Ordinance No. 7017). Elected or appointed members of the Governing Authority who initially take office after October 1, 2007 will participate in this Plan, provided they affirmatively elect (or elect by default) to participate in this Plan,in accordance with and subject to the 30-day time limit and other election requirements specified in subsections 15(b) and 15(gg) of the General Addendum to this Adoption Agreement (see General Addendum subsection 15 (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 -6— Augusta GMEBS Plan I(Amended Effective January 1,2017) 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 15(b) and 15(gg) of the General Addendum to this Adoption Agreement. (2) Municipal Legal Officers (check one): ® ARE NOT eligible to participate in the Plan. p 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 15(b) and 15(gg) concerning participation by Augusta Law Department General Counsel and Law Department staff attorneys who meet applicable eligibility and election requirements. 10. ELIGIBILITY CONDITIONS A. Hours Per Week(Regular Employees) The Adopting Employer may specify a minimum number of work hours per week which are required to be scheduled 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 • 20 hours/week(regularly scheduled) ❑ 30 hours/week(regularly scheduled) ❑ Other: (must not exceed 40 hours/week regularly scheduled) Exceptions: If a different minimum hour requirement applies to a particular class or classes of Regular Employees, please specify below the classes to whom the different requirement applies and indicate the minimum hour requirement applicable to them. Class(es) of Regular Employees to whom exception applies (must specify): • Minimum hour requirement applicable to excepted Regular Employees: ❑ No minimum ❑ 20 hours/week(regularly scheduled) ❑ 30 hours/week(regularly scheduled) ❑ Other: (must not exceed 40 hours/week regularly scheduled) B. Months Per Year(Regular Employees) -7— Augusta GMEBS Plan I(Amended Effective January 1,2017) The Adopting Employer may specify a minimum number of work months per year which are required to be scheduled 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) Exceptions: If different months per year requirements 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. Regular Employees to whom exception applies (must specify): The months to year requirement for excepted class(es) are: ❑ No minimum D At least months per year(regularly scheduled) 11. WAITING PERIOD Except as otherwise provided in Section 4.02(b) of the Master Plan, Eligible Regular Employees shall not have a waiting period before participating in the Plan. Likewise, elected or appointed members of the Governing Authority and Municipal Legal Officers, if eligible to participate in the Plan, shall not have a waiting period before participating in the 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, except as provided in Section 4.03(e) of the Master Plan. However, the Employer may specify below that participation is optional for certain classes of Eligible Employees, including Regular Employees, 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. Classes for whom participation is optional (check one): ❑ None (Participation is mandatory for all Eligible Employees except as provided in Section 4.03(e)of the Master Plan). • Participation is optional for the following Eligible Employees (must specify; all individuals or classes specified must be Eligible Employees): Prior to October 1, -8— Augusta GMEBS Plan I(Amended Effective January 1,2017) 2017, participation in the Plan was optional for certain classes of Eligible Employees. Effective on or after October 1, 2017, participation in the Plan became mandatory for all Eligible Employees who had not previously elected not to participate in the Plan pursuant to subsections 15(b) and 15(gg) of the General Addendum in effect prior to such date. See subsections 15(b) and 15(gg) of the General Addendum regarding optional participation, 30-day election period, and other election requirements in effect prior to October 1,2017. 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 15(x) of the General Addendum concerning treatment of Service for Classes 1-4 prior to original effective date of GMEBS Plan (March 1, 1987) for those who are Participants in the GMEBS Plan immediately prior to January 1,2008 ; see the General Addendum concerning treatment of Service prior to January 1, 2008 for other Participants.) ❑ All Service prior to the date the Eligible Employee becomes a Participant shall be credited(as Credited Past Service). ❑ All Service prior to the date the Eligible Employee becomes a Participant shall be credited (as Credited Past Service), except for Service rendered prior to (insert date). ❑ All Service prior to the date the Eligible Employee becomes a Participant shall be credited (as Credited Past Service), except as follows (must specify other limitation): ❑ No Service prior to the date the Eligible Employee becomes a Participant shall be credited(as Credited Past Service). (2) Previously Employed, Returning to Service after Original Effective Date. If an Eligible Employee is not employed on the original Effective Date of the Employer's GMEBS Plan, but he returns to Service with the Adopting Employer sometime after the Effective Date, -9— Augusta GMEBS Plan I(Amended Effective January 1,2017) 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 15(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) Eligible Employees Initially Employed After Effective Date. If an Eligible Employee's initial employment date is after the original Effective Date of the Employer's GMEBS Plan, his Credited Past Service shall include only the number of years and complete months of Service from his initial employment date to the date he becomes a Participant in the Plan. (4) Newly Eligible Classes of Employees. If a previously ineligible class of Employees becomes eligible to participate in the Plan, the Employer must specify in an addendum to this Adoption Agreement whether and to what extent said Employees'prior service with the Employer shall be treated as Credited Past Service under the Plan. B. Prior Military Service Note: This Section does not concern military service required to be credited under USERRA — See Section 3.02 of the Master Plan for rules on the crediting of USERRA Military Service. (1) Credit for Prior Military Service. The Adopting Employer may elect to treat military service rendered prior to a Participant's initial employment date or reemployment date as Credited Service under the Plan. Unless otherwise specified by the Employer under "Other Conditions" below, the term "Military Service" shall be as defined in the Master Plan. Except as otherwise required by federal or state law or under - 10— Augusta GMEBS Plan I(Amended Effective January 1,2017) "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. p 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): - 11 — Augusta GMEBS Plan I(Amended Effective January 1,2017) 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" is defined as set forth in the Service Credit Purchase Addendum. 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): O Computing amount of benefits payable. ❑ Meeting minimum service requirements for vesting. ❑ Meeting minimum service requirements for benefit eligibility. (2) Definition of Prior Governmental Service. Prior governmental service shall be defined as follows: (must specify): Unless otherwise specified above,prior governmental service shall include only full-time service (minimum hour requirement same as that applicable to Eligible Regular Employees). (3) Maximum Credit for Prior Governmental Service. Credit for prior governmental service shall be limited to a maximum of years (insert number). (4) Rate of Accrual for Prior Governmental Service Credit. - 12— Augusta GMEBS Plan I(Amended Effective January 1,2017) 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. p Participants shall be required to pay for governmental service credit as follows: ❑ The Participant must pay % of the actuarial cost of the service credit. ❑ The Participant must pay an amount equal to (must specify): Other Conditions for Award of Prior Governmental Service Credit (must specify): D. Leave Conversion for Unused Paid Time Off (e.g., Sick, Vacation, or Personal Leave) (1) Credit for Unused Paid Time Off. Subject to the limitations in Section 3.01 of the Master Plan, an Adopting Employer may elect to treat accumulated days of unused paid time off for a terminated Participant, for which the Participant is not paid, as Credited Service. The only type of leave permitted to be credited under this provision is leave from a paid time off plan which qualifies as a bona fide sick and vacation leave plan (which may include sick, vacation or personal leave) and which the Participant may take as paid leave without regard to whether the leave is due to illness or incapacity. The Credited Service resulting from the conversion of unused paid time off must not be the only Credited Service applied toward the accrual of a normal retirement benefit under the Plan. The Pension Committee shall be responsible to certify to GMEBS the total amount of unused paid time off that is creditable hereunder. Important Note: Leave cannot be converted to Credited Service in lieu of receiving a cash payment. If the Employer elects treating unused paid time off as Credited Service, the conversion to Credited Service will be automatic, and the Participant cannot request a cash payment for the unused paid time off. The Employer elects the following treatment of unused paid time off: - 13— Augusta GMEBS Plan I(Amended Effective January 1,2017) ❑ 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 for which the Participant is not paid shall be treated as Credited Service under the Plan (check one or more as applicable): • Unused sick leave ❑ Unused vacation leave ❑ Unused personal leave O Other paid time off(must specify, subject to limitations in Section 3.01 of Master Plan): (2) Minimum Service Requirement. In order to receive credit for unused paid time off, a Participant must meet the following requirement at termination(check one): ❑ The Participant must be 100%vested in a normal retirement benefit. ❑ The Participant must have at least years (insert number) of Total Credited Service(not including leave otherwise creditable under this Section). Other(must specify, subject to limitations in Section 3.01 of Master Plan): The Participant must be eligible for Early, Normal or Disability Retirement benefits. (3) Use of Unused Paid Time Off Credit. Unused paid time off for which the Participant is not paid 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 for which the Participant is not paid 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 - 14— Augusta GMEBS Plan I(Amended Effective January 1,2017) Termination date. Each twenty (20) days of unused sick leave shall be counted as one (1) complete month of Credited Service under the Plan, with any remainders of 10 or more days credited as one (1) complete month. For Eligible Regular Employees who regularly work 24-hour shifts, nine (9) 24-hour sick days will be credited as one (1) complete month of Credited Service, with any remainders of five (5) or more 24-hour sick days credited as one(1)complete month . 14. RETIREMENT ELIGIBILITY A. Early Retirement Qualifications Early retirement qualifications are(check one or more as applicable): Attainment of age 50 (insert number) ® Completion of 5 years (insert number) of Total Credited Service with Augusta, Georgia. Exceptions: If different early retirement eligibility requirements apply to a particular class or classes of Eligible Employees, the Employer must specify below the classes to whom the different requirements apply and indicate below the requirements applicable to them. (1) Eligible Employees to whom exception applies(must specify): Class 2 and Class 4 Early retirement qualifications for excepted class(es) are(check one or more as applicable): Attainment of age 55 (insert number) ® Completion of 10 years (insert number) of Total Credited Service with Augusta, Georgia. (2) Eligible Employees to whom exception applies(must specify): Class 6 Early retirement qualifications for excepted class(es) are(check one or more as applicable): Attainment of age 50 (insert number) Completion of 15 years (insert number) of Total Credited Service with Augusta, Georgia. B. Normal Retirement Qualifications Note: Please complete this Section and also list "Alternative" Normal Retirement Qualifications,if any, in Section 14.C. (1) Regular Employees Normal retirement qualifications for Regular Employees are (check one or more as applicable): - 15— Augusta GMEBS Plan I(Amended Effective January 1,2017) • Attainment of age 65 (insert number) ❑ Completion of years(insert number) of Total Credited Service ❑ In-Service Distribution to Eligible Employees permitted (i.e., a qualifying Participant may commence receiving retirement benefits while in service without first incurring a Bona Fide Separation from Service), if Participant meets minimum age and service requirements specified immediately above and is at least age 62 (unless a lower safe-harbor age is permitted under applicable federal law), subject to applicable Plan provisions concerning recalculation and offset applied at re-retirement to account for the value of benefits received prior to re- retirement. This rule shall apply to (check one): 0 all Participants 0 only the following class(es) of Participants (must specify): 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 ❑ In-Service Distribution to Eligible Employees permitted (i.e., a qualifying Participant may commence receiving retirement benefits while in service without first incurring a Bona Fide Separation from Service), if Participant meets minimum age and service requirements specified immediately above and is at least age 62 (unless a lower safe-harbor age is permitted under applicable federal law), subject to applicable Plan provisions concerning recalculation and offset applied at re-retirement to account for the value of benefits received prior to re- retirement. This rule shall apply to (check one): o all Participants o only the following class(es) of Participants (must specify): (2) Elected or Appointed Members of Governing Authority Complete this Section only if elected or appointed members of the Governing Authority or Municipal Legal Officers are permitted to participate in the Plan. Normal retirement qualifications for this class are(check one or more as applicable): • Attainment of age 65 (insert number) O Completion of years (insert number)of Total Credited Service - 16— Augusta GMEBS Plan I(Amended Effective January 1,2017) ❑ In-Service Distribution to Eligible Employees permitted (i.e., a qualifying Participant may commence receiving retirement benefits while in service without first incurring a Bona Fide Separation from Service), if Participant meets minimum age and service requirements specified immediately above and is at least age 62 (unless a lower safe-harbor age is permitted under applicable federal law), subject to applicable Plan provisions concerning recalculation and offset applied at re-retirement to account for the value of benefits received prior to re- retirement. This rule shall apply to (check one): ❑ all Participants ❑ only the following class(es) of Participants (must specify): Exceptions: If different normal retirement qualifications apply to particular elected or appointed members of the Governing Authority or Municipal Legal Officers, the Employer must specify below to whom the different requirements apply and indicate below the requirements applicable to them. Particular elected or appointed members of the Governing Authority or Municipal Legal Officers to whom exception applies (must specify): Normal retirement qualifications for excepted elected or appointed members of the Governing Authority or Municipal Legal Officers are(check one or more as applicable): ❑ Attainment of age (insert number) ❑ Completion of years(insert number) of Total Credited Service ❑ In-Service Distribution to Eligible Employees permitted (i.e., a qualifying Participant may commence receiving retirement benefits while in service without first incurring a Bona Fide Separation from Service), if Participant meets minimum age and service requirements specified immediately above and is at least age 62 (unless a lower safe-harbor age is permitted under applicable federal law), subject to applicable Plan provisions concerning recalculation and offset applied at re-retirement to account for the value of benefits received prior to re- retirement. This rule shall apply to (check one): 0 all Participants 0 only the following class(es) of Participants (must specify): C. Alternative Normal Retirement Qualifications Please skip to Section 14.D. - Disability Benefit Qualifications if the Adopting Employer does not offer alternative normal retirement benefits under the Plan. The Employer may elect to permit Participants to retire with unreduced benefits after they satisfy service and/or age requirements other than the regular normal retirement qualifications specified above. The Employer hereby adopts the following alternative normal retirement qualifications: - 17— Augusta GMEBS Plan I(Amended Effective January 1,2017) Alternative Normal Retirement Qualifications (check one or more, as applicable): (1) 0 Not applicable (the Adopting Employer does not offer alternative normal retirement benefits under the Plan). (2) ® 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 O In-Service Distribution to Eligible Employees permitted (i.e., a qualifying Participant may commence receiving retirement benefits while in service without first incurring a Bona Fide Separation from Service), if Participant meets minimum age and service requirements specified immediately above and is at least age 62 (unless a lower safe-harbor age is permitted under applicable federal law), subject to applicable Plan provisions concerning recalculation and offset applied at re-retirement to account for the value of benefits received prior to re-retirement. This rule shall apply to (check one): 0 all Participants 0 only the following class(es) of Participants(must specify): This alternative normal retirement benefit is available to: ❑ All Participants who qualify. • Only the following Participants (must specify): Participants in Class 1, Class 2, Class 5, Class 7, Class 8, or Class 9 who are Public Safety Personnel, provided they are at least age 55 and have at least 25 years of Total Credited Service as Public Safety Personnel with Augusta, Georgia (see General Addendum subsection 15(a) for definition of "Public Safety Personnel"). A Participant(check one): 0 is required ® is not required to be in the service of the Employer at the time he satisfies the above qualifications in order to qualify for this alternative normal retirement benefit. Other eligibility requirement(must specify): (3) 0 Rule of (insert number). The Participant's combined Total Credited Service and age must equal or exceed this number. Please complete additional items below: To qualify for this alternative normal retirement benefit, the Participant (check one or more items below, as applicable): ❑ Must have attained at least age (insert number) O Must not satisfy any minimum age requirement - 18— Augusta GMEBS Plan I(Amended Effective January 1,2017) ❑ In-Service Distribution to Eligible Employees permitted (i.e., a qualifying Participant may commence receiving retirement benefits while in service without first incurring a Bona Fide Separation from Service), if the Participant meets the minimum age and service requirements specified immediately above and is at least age 62 (unless a lower safe-harbor age is permitted under applicable federal law), subject to applicable Plan provisions concerning recalculation and offset applied at re-retirement to account for the value of benefits received prior to re-retirement. This rule shall apply to (check one): 0 all Participants 0 only the following class(es) of Participants (must specify): This alternative normal retirement benefit is available to: ❑ All Participants who qualify. ❑ Only the following Participants (must specify): A Participant (check one): ❑ is required 0 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): (4) ❑ 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. ❑ In-Service Distribution to Eligible Employees permitted (i.e., a qualifying Participant may commence receiving retirement benefits while in service without first incurring a Bona Fide Separation from Service), if the Participant meets the minimum service requirement specified immediately above and is at least age 62 (unless a lower safe-harbor age is permitted under applicable federal law), subject to applicable Plan provisions concerning recalculation and offset applied at re-retirement to account for the value of benefits received prior to re-retirement. This rule shall apply to (check one): 0 all Participants 0 only the following class(es) of Participants(must specify): This alternative normal retirement benefit is available to: ❑ All Participants who qualify. ❑ Only the following Participants(must specify): • - 19— Augusta GMEBS Plan I(Amended Effective January 1,2017) A Participant (check one): 0 is required 0 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): (5) ® 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. ❑ In-Service Distribution to Eligible Employees permitted (i.e., a qualifying Participant may commence receiving retirement benefits while in service without first incurring a Bona Fide Separation from Service), if the Participant meets minimum age and service requirements specified immediately above and is at least age 62 (unless a lower safe-harbor age is permitted under applicable federal law), subject to applicable Plan provisions concerning recalculation and offset applied at re-retirement to account for the value of benefits received prior to re-retirement. This rule shall apply to (check one): 0 all Participants ❑ only the following class(es) of Participants (must specify): 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, or Class 9. A Participant (check one): 0 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): (6) 0 Other Alternative Normal Retirement Benefit for Public Safety Employees Only. Must specify qualifications: 0 hi-Service Distribution to Eligible Employees who are Public Safety Employees permitted (i.e., a qualifying Participant may commence receiving retirement benefits while in service without first incurring a -20— Augusta GMEBS Plan I(Amended Effective January 1,2017) Bona Fide Separation from Service), if the Participant meets minimum age and service requirements specified immediately above and is at least age 50 (unless a lower safe-harbor age is permitted under applicable federal law), subject to applicable Plan provisions concerning recalculation and offset applied at re-retirement to account for the value of benefits received prior to re-retirement. This rule shall apply to (check one): 0 all Participants 0 only the following class(es) of Participants (must specify): This alternative normal retirement benefit is available to: ❑ All public safety employee Participants who qualify. ❑ Only the following public safety employee Participants(must specify): _ A public safety employee Participant (check one): 0 is required 0 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): 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. 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 2.23 of the Master Plan. The Disability Retirement benefit shall commence as of the Participant's Disability Retirement Date under Section 2.24 of the Master Plan. To qualify for a disability benefit, a Participant must have the following minimum number of years of Total Credited Service (check one): ❑ Not applicable (the Adopting Employer does not offer disability retirement benefits under the Plan). ❑ 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 15(aa)(iii) of the General Addendum for eligibility requirements applicable to Class 6). -21— Augusta GMEBS Plan I(Amended Effective January 1,2017) 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 or all that apply): • not limited. ❑ limited to years for all Participants. ❑ limited to years for the following classes of Eligible Regular Employees: ❑ All Eligible Regular Employees. ❑ Only the following Eligible Regular Employees: ❑ limited to years as an elected or appointed member of the Governing Authority. ❑ limited to years as a Municipal Legal Officer. ❑ Other(must specify): B. Monthly Normal Retirement Benefit Amount (1) Regular Employee Formula The monthly normal retirement benefit for Eligible Regular Employees shall be 1/12 of(check and complete one or more as applicable): (a) Flat Percentage Formula. 1.65% (insert percentage) of Final Average Earnings multiplied by years of Total Credited Service as an Eligible Regular Employee. This formula applies to: ❑ All Participants who are Regular Employees. ® Only the following Participants (must specify): Participants employed with Augusta after January 1, 2010, except as otherwise provided in this Section 15(B)(1) with respect to specified classes. (b) Alternative Flat Percentage Formula. 1_4% (insert percentage) of Final Average Earnings multiplied by years of Total Credited Service as an Eligible Regular Employee. This formula applies to the following Participants (must specify): Participants who terminated employment with Augusta on or before January 1, 2010 and who do not return to -22— Augusta GMEBS Plan I(Amended Effective January 1,2017) Service as an Eligible Regular Employee after said date, except as otherwise provided in Sections 15(B)(1)(c)-(d) below with respect to specified classes. ® (c) Alternative Flat Percentage Formula. 1.0% (insert percentage) of Final Average Earnings multiplied by years of Total Credited Service as an Eligible Regular Employee. This formula applies to the following Participants (must specify): Participants in Class 6. • (d) Split Final Average Earnings Formula. 1.25 % (insert percentage) of Final Average Earnings up to the amount of Covered Compensation (see subsection(2) below for definition of Covered Compensation), plus 2.0% (insert percentage) of Final Average Earnings in excess of said Covered Compensation, multiplied by years of Total Credited Service as an Eligible Regular Employee. This formula applies to: ❑ All Participants who are Regular Employees. • Only the following Participants (must specify): Participants in Class 2 and Class 4; Participants in Class 1 and Class 3 when the benefit determined under this Section 15(B)(1)(d) results in a higher benefit than the benefit determined under the formula in Section 15(B)(1)(a) or Section 15(B)(1)(b) above, as applicable. ❑ (e) Alternative Split Final Average Earnings Formula. % (insert percentage) of Final Average Earnings up to the amount of Covered Compensation (see subsection (2) below for definition of Covered Compensation), plus % (insert percentage) of Final Average Earnings in excess of said Covered Compensation, multiplied by years of Total Credited Service as an Eligible Regular Employee. This formula applies to: ❑ All Participants. p 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 2.18 of the Master Plan. This definition of Covered Compensation shall apply to (check one): -23— Augusta GMEBS Plan I(Amended Effective January 1,2017) ❑ All Participants who are Regular Employees. ❑ Only the following Participants (must specify): (b) Dynamic Break Point Covered Compensation as defined in Section 2.19 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. O (c) Table Break Point Covered Compensation as defined in Section 2.20 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): ❑ (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 monthly average of Earnings paid to a Participant by the Adopting Employer for the 60 (insert number not to exceed 60) consecutive months of Credited Service preceding the Participant's most recent Termination in which the Participant's Earnings were the highest, multiplied by (12). 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. O 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 The monthly normal retirement benefit for members of this class shall be as follows (check one): -24— Augusta GMEBS Plan I(Amended Effective January 1,2017) (See subsection 15(c) of the General Addendum.) ❑ Not applicable (elected or appointed members of the Governing Authority or Municipal Legal Officers are not permitted to participate in the Plan). ❑ $ (insert dollar amount) per month for each year of Total Credited Service as an elected or appointed member of the Governing Authority or Municipal Legal Officer or major fraction thereof(6 months and 1 day). This formula applies to: ❑ All elected or appointed members of the Governing Authority or .Municipal Legal Officers eligible to participate. ❑ Only the following elected or appointed members of the Governing Authority or Municipal Legal Officers eligible to participate (must specify): [Repeat above subsection as necessary for each applicable formula for classes of elected or appointed members covered under the Plan.] C. Monthly Early Retirement Benefit Amount Check and complete one or more as applicable: (1) Standard Early Retirement Reduction Table. The monthly Early Retirement benefit shall be computed in the same manner as the monthly Normal Retirement benefit, but the benefit shall be reduced on an Actuarially Equivalent basis in accordance with Section 12.01 of the Master Plan to account for early commencement of benefits. This provision shall apply to: ❑ 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 15(aa)(ii)). • -25— Augusta GMEBS Plan I(Amended Effective January 1,2017) Alternative Early Retirement Reduction Table Number of Years Before Percentage of Age 65 or Age 62,as Normal Retirement Benefit* applicable (complete as applicable) (check as applicable) ® 0 1.000 ® 1 0.95 • 2 0.90 ® 3 0.85 ® 4 0.80 ® 5 0.75 ® 6 0.70 ® 7 0.65 ® 8 0.60 ® 9 0.55 ® 10 0.50 ® 11 0.45 ® 12 0.40 o 13 0.35 o 14 0.30 ® 15 0.25 *Interpolate for whole months D. Monthly Late Retirement Benefit Amount(check one): ® (1) The monthly Late Retirement benefit shall be computed in the same manner as the Normal Retirement Benefit, based upon the Participant's Accrued Benefit as of his Late Retirement Date. ❑ (2) The monthly Late Retirement benefit shall be the greater of: (1)the monthly retirement benefit accrued as of the Participant's Normal Retirement Date, actuarially increased in accordance with the actuarial table contained in Section 12.05 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 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. Minimum Disability Benefit. The Adopting Employer may set a minimum Disability Benefit. The Employer elects the following minimum Disability benefit(check one): -26— Augusta GMEBS Plan I(Amended Effective January 1,2017) ❑ Not applicable (the Adopting Employer does not offer disability retirement benefits under the Plan). ❑ No minimum is established. ® No less than (check one): 0 20% 0 10% 0 % (if other than 20% or 10% insert percentage amount) of the Participant's average monthly Earnings for the 12 calendar month period (excluding any period of unpaid leave of absence) 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.) 0 No less than (check one): 0 66 2/3 % 0 % (if other than 66 2/3%, insert percentage amount) of the Participant's average monthly Earnings for the 12 calendar month period (excluding any period of unpaid leave of absence) immediately preceding his Termination of Employment as a result of a Disability, less any monthly benefits paid from federal Social Security benefits as a result of disability as reported 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.) Note: The Adopting Employer is responsible for reporting to GMEBS any amounts to be used in an offset. F. Minimum/Maximum Benefit For Elected Officials In addition to any other limitations imposed by federal or state law, the Employer may impose a cap on the monthly benefit amount that may be received by elected or appointed members of the Governing Authority. The Employer elects (check one): ❑ Not applicable (elected or appointed members of the Governing Authority do not participate in the Plan). • No minimum or maximum applies. ❑ Monthly benefit for Service as an elected or appointed member of the Governing Authority may not exceed 100% of the Participant's final salary as an elected or appointed member of the Governing Authority. ❑ Other minimum or maximum(must specify): 16. SUSPENSION OF BENEFITS FOLLOWING BONA FIDE SEPARATION OF SERVICE; COLA A. Re-Employment as Eligible Employee After Normal, Alternative Normal, or Early Retirement and Following Bona Fide Separation of Service (see Master Plan Section -27— Augusta GMEBS Plan I(Amended Effective January 1,2017) 6.06(c) Regarding Re-Employment as an Ineligible Employee, and Master Plan Section 6.06(e)and (f)Regarding Re-Employment After Disability Retirement) (1) Reemployment After Normal or Alternative Normal Retirement. In the event that a Retired Participant 1) is reemployed with the Employer as an Eligible Employee (as defined in the Plan) after his Normal or Alternative Normal Retirement Date and after a Bona Fide Separation from Service, or 2) is reemployed with the Employer in an Ineligible Employee class, and subsequently again becomes an Eligible Employee (as defined in the Plan) due to the addition of such class to the Plan after his Normal or Alternative Normal Retirement Date, the following rule shall apply(check one): O (a) The Participant's benefit shall be suspended in accordance with Section 6.06(a)(1) 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(b) of the Master Plan. This rule shall apply to (check one): 0 all Retired Participants ® only the following classes of Retired Participants (must specify - benefits of those Retired Participants not listed shall be suspended in accordance with Section 6.06(a) of the Master Plan if they return to work with the Employer): Retired Participants who return to employment with the Employer pursuant to a written reemployment agreement with the Employer. (2) Reemployment After Early Retirement. In the event a Participant Retires with an Early Retirement benefit after a Bona Fide Separation from Service 1) is reemployed with the Employer as an Eligible Employee before his Normal Retirement Date; or 2) is reemployed with the Employer in an Ineligible Employee class, and subsequently again becomes an Eligible Employee(as defined in the Plan)before his Normal Retirement Date due to the addition of such class to the Plan, the following rule shall apply(check one or more as applicable): (a) ® The Participant's Early Retirement benefit shall be suspended in accordance with Section 6.06(a)(1) of the Master Plan for as long as the Participant remains employed. This rule shall apply to (check one): 0 all Retired Participants; ® only the following classes of Retired Participants (must specify): All Participants other than those described in Section 16(A)(2)(c) below. (b) 0 The Participant's Early Retirement benefit shall be suspended in accordance with Section 6.06(a)(1) of the Master Plan. However, the Participant may begin receiving benefits after he satisfies the qualifications for Normal Retirement or Alternative Normal Retirement, as applicable, and after satisfying the minimum age parameters of Section 6.06(a)(3) of the Master Plan, in accordance with Section 6.06(b)(2)(B)(i) of the Master Plan. -28— Augusta GMEBS Plan I(Amended Effective January 1,2017) This rule shall apply to (check one): 0 all Retired Participants; ❑ only the following classes of Retired Participants (must specify): (c) ® The Participant's Early Retirement benefit shall continue in accordance with Section 6.06(b)(2)(B)(ii)of the Master Plan. This rule shall apply to (check one): ❑ all Retired Participants; ® only the following classes of Retired Participants (must specify): Retired Participants who return to employment with the Employer pursuant to a written reemployment agreement with the Employer. 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. O (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): 0 All Participants(and their Beneficiaries). ❑ Participants (and their Beneficiaries) who terminate employment on or after (insert date). • Other(must specify): Participants in Class 2 or Class 4 only. The Adjustment Date for the above cost-of-living adjustment shall be (if not specified, the Adjustment Date shall be January 1): (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). O (c) Fixed annual cost-of-living adjustment equal to % (insert percentage). -29— Augusta GMEBS Plan I(Amended Effective January 1,2017) The above cost-of-living adjustment shall apply with respect to the following Participants (and their Beneficiaries) (check one): ❑ All Participants(and their Beneficiaries). ❑ Participants (and their Beneficiaries) who terminate employment on or after (insert date). ® Other(must specify): Participants in Class 6 only. The Adjustment Date for the above cost-of-living adjustment shall be (if not specified, the Adjustment Date shall be January 1): (3) The Employer hereby elects the following(check one): ❑ (a) No cost-of-living adjustment. ❑ (b) Variable Annual cost-of-living adjustment not to exceed % (insert percentage). • (c) Fixed annual cost-of-living adjustment equal to 1.5%(insert percentage). The above cost-of-living adjustment shall apply with respect to the following Participants (and their Beneficiaries) (check one): ❑ 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,or Class 9 only. The Adjustment Date for the above cost-of-living adjustment shall be (if not specified, the Adjustment Date shall be January 1): 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): O No vesting schedule(immediate vesting). O 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. -30— Augusta GMEBS Plan I(Amended Effective January 1,2017) ❑ Graduated Vesting Schedule. Benefits shall become vested in accordance with the following schedule(insert percentages): COMPLETED YEARS OF TOTAL CREDITED SERVICE VESTED PERCENTAGE 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 or Class 4; (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 15(11)(iii) of the General Addendum; (3) 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 15(11)(i) of the General Addendum are satisfied; and (4) the Chief Appraiser employed in such position on July 26, 2010,pursuant to an employment Agreement with the Richmond County Board of Assessors(i.e.,Mr.Alveeno Ross). Vesting Schedule for excepted class (must specify; schedule for 100% vesting cannot exceed 10 years): (1) For Participants in Class 2 or Class 4,benefits shall be 100% vested after the Participant has a minimum of 10 years of Total Credited Service, with benefits considered 0% vested until the Participant satisfies this minimum; (2) Pursuant to 15(11)(i) of the General Addendum, Participants who on or after January 1, 2009, and before April 1, 2011, held a senior executive service (SES) position listed in subsection 15(Il)(iii) of the General Addendum will be considered immediately vested in their accrued Normal Retirement benefit (no vesting schedule); (3) Participants who on or after April 1, 2011, hold a senior executive service (SES) position as identified in the Augusta, Georgia Personnel Policy and Procedures Manual will be considered immediately vested in their accrued Normal Retirement benefit(no vesting schedule). See General Addendum 15 (11)(i); and (4) the Chief Appraiser employed in such position on July 26, 2010 (i.e., Mr. Alveno Ross) is immediately vested in his Normal Retirement benefit (no vesting schedule) upon employment. B. Elected or Appointed Members of the Governing Authority 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 -31— Augusta GMEBS Plan I(Amended Effective January 1,2017) right in his accrued retirement benefit for Credited Service in such capacity in accordance with the following schedule(check one): ❑ Not applicable (elected or appointed members of the Governing Authority are not permitted to participate in the Plan). • No vesting schedule(immediate vesting). ❑ Other vesting schedule (must specify; schedule for 100% vesting cannot exceed 10 years): 18. PRE-RETIREMENT DEATH BENEFITS A. In-Service Death Benefit 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. O 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) 0 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): O The Participant shall be eligible upon satisfying the eligibility requirements of Section 8.02(c)of the Master Plan. ❑ The Participant must have years (insert number) of Total Credited Service. -32— Augusta GMEBS Plan I(Amended Effective January 1,2017) p 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): 0 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 ('/z) ❑ (insert other fraction) of the Service between such date of death and what would otherwise have been the Participant's Normal Retirement Date. (See Master Plan Section 8.02(b) regarding 10-year cap on additional Credited Service.) 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 15(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 15(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): -33— Augusta GMEBS Plan I(Amended Effective January 1,2017) ® 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. O 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 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 who terminated prior to October 1, 2016 and were not thereafter reemployed. Eligibility conditions for alternative death benefit(must specify): Not applicable. 19. EMPLOYEE CONTRIBUTIONS (1) Employee contributions(check one): 0 Are not required. • Are required in the amount of 3.5 % (insert percentage) of Earnings for all Participants. Participants in Class 1, Class 2, Class 3, or 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, or 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 -34— Augusta GMEBS Plan I(Amended Effective January 1,2017) 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)-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. O 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 or Class 4; see subsection 15(aa)(i) of the General Addendum for provisions on crediting interest for Class 6 and subsection 15(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. -35— Augusta GMEBS Plan I(Amended Effective January 1,2017) 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 ordinance. The Adoption Agreement (and, if applicable, the Addendum) sets forth the Employees to be covered by the Plan, the benefits to be provided by the Adopting Employer under the Plan, and any conditions imposed by the Adopting Employer with respect to, but not inconsistent with, the Plan. The Adopting Employer reserves the right to amend its elections under the Adoption Agreement and any Addendum, so long as the amendment is not inconsistent with the Plan or the Internal Revenue Code or other applicable law and is approved by the Board of Trustees of GMEBS. _ The Adopting Employer acknowledges that it may not be able to rely on the volume submitter advisory letter if it makes certain elections under the Adoption Agreement or the Addendum. 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. 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. -36— Augusta GMEBS Plan I(Amended Effective January 1,2017) This Adoption Agreement (and any Addendum) may only be used in conjunction with Georgia Municipal Employees Benefit System Master Defined Benefit Retirement Plan Document approved by the Internal Revenue Service under advisory letter dated , 20 . 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 letter should be directed to the Administrator. The Administrator is Georgia Municipal Employees Benefit System, with its primary business offices located at: 201 Pryor Street, SW, Atlanta, Georgia, 30303. The business telephone number is: (404) 688-0472. The primary person to contact is: GMEBS Legal Counsel. Authorization for Amendments. Effective on and after February 17, 2005, the Adopting Employer hereby authorizes the volume submitter practitioner who sponsors the Plan on behalf of GMEBS, to prepare amendments to the Plan, for approval by the Board, on its behalf as provided under Revenue Procedure 2005-16, as superseded by Revenue Procedure 2015-36, Revenue Procedure 2011-49, and Announcement 2005-37. Effective January 1, 2013, Georgia Municipal Association, Inc., serves as the volume submitter practitioner for the Plan. Employer notice and signature requirements were met for the Adopting Employer before the effective date of February 17, 2005. The Adopting Employer understands that the implementing amendment reads as follows: On and after February 17, 2005, the Board delegates to the Practitioner the authority to advise and prepare amendments to the Plan, for approval by the Board, on behalf of all Adopting Employers, including those Adopting Employers who have adopted the Plan prior to the January 1, 2013, restatement of the Plan, for changes in the Code, the regulations thereunder, revenue rulings, other statements published by Internal Revenue Service, including model, sample, or other required good faith amendments (but only if their adoption will not cause such Plan to be individually designed), and for corrections of prior approved plans. These amendments shall be applied to all Adopting Employers. Employer. notice and signature requirements have been met for all Adopting Employers before the effective date of February 17, 2005. In any event, any amendment prepared by the Practitioner and approved by the Board will be provided by the Administrator to Adopting Employers. Notwithstanding the foregoing paragraph, no amendment to the Plan shall be prepared on behalf of any Adopting Employer as of either: • the date the Internal Revenue Service requires the Adopting Employer to file Form 5300 as an individually designed plan as a result of an amendment by the Adopting Employer to incorporate a type of Plan not allowable in a volume submitter plan as described in Revenue Procedure 2015-36; or • as of the date the Plan is otherwise considered an individually designed plan due to the nature and extent of the amendments. -37— Augusta GMEBS Plan I(Amended Effective January 1,2017) AN ORDINANCE(continued from page 1) Section 2. Except as otherwise specifically required by law or by the terms of the Master Plan or Adoption Agreement (or any Addendum), the rights and obligations under the Plan with respect to persons whose employment with the Augusta, Georgia was terminated or who vacated his office with Augusta, Georgia 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 January 1, 2017. Section 4. All Ordinances and parts of ordinances in conflict herewith are expressly repealed. Approved by the Augusta, Georgia Commission Council this '31 61 day of I Attest ,,,, .�ct D tt1 AUGUSTA, GEORGIA I ,,r+ 'V -' v-�-mi'`'l 1 /---4..„._..A., - t' 2 a v 'ab v : ® * Mayor es 0 Appr• ! EUIdC�e `wells'41 , tor, ��lia_____�' , I The terms of the foregoing Adoption Agreement are approved by the Board of Trustees of Georgia Municipal Employees Benefit System. IN WITNES WHEREOF, the Board of Trustees of Georgia Municipal Employees Benet tem has c ed its Se 1 and the signatures of its duly authorized officers to be affixed this day o @�'+rr�{ , 20 1 7. Board of Trustees Georgia Municipal Employees Benefit System (SEAL) .4%,--•`-1 /4"---A"-' Secretary -39— Augusta GMEBS Plan I(Amended Effective January 1,2017) If the Adopting Employer is required to obtain a determination letter for any reason in order to maintain reliance on the advisory letter, the Practitioner's authority to amend the Plan on behalf of the Adopting Employer is conditioned on the Plan receiving a favorable determination letter. The Adopting Employer further understands that, if it does not give its authorization hereunder or, in the alternative, adopt another pre-approved plan, its Plan will become an individually designed plan and will not be able to rely on the volume submitter advisory letter. -38— Augusta GMEBS Plan I(Amended Effective January 1,2017)