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Resolution 96-851RESOLUTION NO. 96-BSI A RESOLUTION OF THE CITY OF LONGWOOD, FLORIDA: ANENDING EXHIBIT "A" OF RESOLUTION NO. 96-828, AMENDING THE RETIREMENT PLAN AND TRUST FOR THE FIREFIGHTERS AND POLICE OPFIC[;RS OF THE CITY OF IANGWOOD, PROVIDING FOR CONFLICTS AND EFFECTIVE DATE. WHEREAS, in order to establish av alternnove retirement plan and optrour of the Florida Retlrenient Syste the City Commission joined the Florida Municipal Pension T7vst Fund and established a Retirement Plan and Trust for the Firefighters and Police OtFicers of the City of Longwood pursuant to Exhibit "A" o[ Resolution No. 96-828; and WhIEREAS, teclioical wrrections that have no tixal impact need to be made w We Plan Douiment for Firefighters end Police OHicers; and WHEREAS. the City Commission desires to ratify and confirm the pravistons of the Firelighters' and Police Officers' Retirement Plan and Truse; NOW, "THEREFORE, }3E I'I R[SOLVED [3Y THE CITY COMMISSION OF THE CITY OF LONGWOOD, FLORIDA. AS FOLLOWS: SECTION I: The City Commission of the City o[ Longwood hereby approves the changes as set forth in the restafed Plan Document atmdred hereto. SECTION 2 The City Commission oP the City of Longwood hereby atifies avd wnfirms the pro of Llte Plan ached hereto in the form of Llte Adoption Agreement Plan Docu Went and FloridaaMunicipal Pension ltusr Fund Master Trust Agreement [or FireSgltters and Police Officers, ntwched hereto ns exhibits Itereln, thereby amending Eshiblt "A" of Resolution No. 96-828. SECTION 3: The City Connnission of Wa City of Longwood hereby authorizes the Mayorof the City of Longwoodw uch docmnentsend ogre meats as are required to effeowate these amendvtevts ofsihe Plan. SECTION 4: All resolutions orparts of resohitionsincoul7ictheiewith are hereby repealed. Kc~~ol~iubi~ No. 96~t/Vzge 2 SECTIONS: This. ~ ions. 36. PASSED D, ~ ~Il ~.~3, ' . ,o~ ~u~ «nam„~s~forcher~ess~aets _P oa Uer .. f ~g rz.. _. a ~,., Play Pxument Restatement ~ Mey 3t, t936 Peee 2 Please call our office should you have any questions. Sincerely, .~, ~G ~/~_+ Joyce Case Pevsion Services Manager u. Kelley Bosecker, Kalish & Wazd David Ramba. FLC, Assistant General Couveel Patricia Shoemaker. Retirement Administrator, Divisiov of Retirement The Adoption Agreement and the Defined Benefit Plan are furnished for the nsideration of the Employer and its legal and financial advisors. The Florida I.eagne of Cities advises the sponsoring Employer to consult witL its own attorney and Bnanual advisors on the legal and tax implications of the Defined Benefit Plan and the Adopfiav Agreement. Nothing herein should be covstrned as constituting legal or tax advice. CAANGES TO PLAN DOC[JMENT Incorporated iv the reafated Plan dated 05/2296 CHANGE#1 ].11 "Lrgd=tad ~rvi (def tiou rem unchanged until the last two pazagraphs) B) For Firefi¢htere only the Participant must deposit into the Fund the same sum that the Pardripant would have contributed if 6e had awed a Participant, Plus an amount of ivrervst detormin~d u 44e interest assumvtiov m the prior veers' va] ti from the date the Participant Left employment [n [he date of payback. (C) For FirePVhters onfr the mavmum credit Por military servivs shall be five (5) years. CHANGE #2 1.30 '"Total and Permanent Disebilitv"~ shall mean a physical or mental condition of a Participant restating from bodily injury, disease, or mental disorder wlurh renders him incapable of continuing any gainful oavpatiov with the Employer, or in the case of a Phnfighter Police Officer or Public Safety Officec renders him incapable of employment az a Fire5ghter, Police Officer or Public Safety Officer, respectively, and which condition constitutes mtW disability as determined by the Boazda-licensed CHANGE #3 3.01 P Bc ffi ffi FS 5 ht Pl O I ) (A) The sole and exclusive administration of and respomvbility [oz the proper operation of the Ptav is hereby vested io a Boazd of Trustees vsisting of five (5) trustees. These trustees ahaB be selected arrnrding W Chapter 173.331(35)(a) ~{, and Chapter 385.35(d)(a) F( Stet. Each resident trustee ehail eerve as trustee fox a period of two (2) yeazs, unless sooner replaced by the governing body of the Employer at whale pleasure the Board member shag serve, and may su sari hunself as a Board member. Each Partitinant Beard member shaLL serve as g Boazd ember for a period of two (2) years, oriels he loo er leaves the employment of the Employee as a Paxtidpant ox otherwise vacates his office as Boazd member, whereupon a suaessor shall be chosen in the same mercer as the departing Board member. Earl Boazd member may t cceed Limself in office. The Board of Trvvtetw shall meet at least quarterly earl yeaz. Each Board of Trustees shall be a legal entity with. addition m other powers and respo~bilities mnraived herein, the power W bring and defend lawsuits of every kind venue, sad descriptim. Accurate and detailed accounts of all Boaxl meetings must 6e kept All accounts. books and records relating thereto shall 6e open W inspection and audit' day 'th ral i __ _ _ _ __ _. The Hoard shall seas such reports regnesma and make evadable m the same far inapertign any arts all records and a¢ounts which ace deemed appropriate iv order to comply with governmental regulaaovs issued thereunder. (B) unchanged (C) unchanged (D) The Hoard of Trustees shall engage sorb actuarial, arcountlvg, legal. and older services as shall be required to havsact the business of tLe Plav. The compensation of ell persons engaged by the Hoazd of-Beazd members-end all atbex expenses of the Board neressary for iLe operation of the PLm shall be paid from the Fund at each rates and in such ounts as Ne Boazd ofTrustees,~ shaLL approve. (the rem 'awing of Seetiov 3.01 is unchanged) CHANGE #4 4.01 Establishment and Oceration of Fund (D) AB finds and securities of the Plan may be commingled m one trust fund for collective ivves~ent Purposes with true[ eceated under any other qualified retirement plm. As omvided in the Master 14ust Aeree t th Trn tee ' A"ee-Empleyetspm5cally authorized [be 4htstee-to invert aLL or a¢y portion of Ne assets rumprising the Trust Fund m any group trust fund whirh at the time of rLe snvesmev[ provides fox the pooling of the assets ofplans qualified under Code 901(a). The provision of the group trust fund agreement. as amended from time m time, are by this roferevice ivrozporated within this Plan and Trust. The previsions of the group trust fund will govern any ivveetment of Play assets iv the[ fund The group trust find to which [Lis authorization applies is listed under Exhibit A Aavrate records are m be maintained at all times reflecting the Svavcial composition of the Fuvd including accurate current aceouvm and entries az regards the following CHANGE #6 5.01 Parti ' t C trib ti (C) Pre-T sEmo~budons If pre=tax Employee Contributions are applicable. this orov~,noo will b¢ noted within the Ad ntlo° Here t Secti K .ro tiib eo~a,!suant [o Sectin 414(h) F~ Code otherwise the Plav will assume aAe tax tiib « ~e Cede: 9YCh dovgnation u contingent upon the mnhibutiov being excluded fiam the Employees gross income for federal income tax purposes. For all otter purposes of the Plan, such contributions shall be considered Employee contributions. CE[ANGE #6 3.02 State Contributlws Any monies rzvived or receivable by reason of laws o£ the State of Florida, for the express Purpose of funding the Plan shalt be deposited in the Trust Fund comprising part of tEia Plav immediately. Contributions must be deposited~v_ five (5) days after reraipt by the Employer. CHANGE#7 6.03 Normal Form of 6evefit The normal form of benefit shall be a single monthty retirement benefit for thelife~¢n certain eth§eParHeipeaE. CHANGE #8 6.04 f fL" Ad'~sim tst A 6tP to A cosao6living in¢ease, if-eay aoplicable, shall be as spedfied in the Adoption Agreement. Section L-COLA Ad'us ncv CHeLYGE #9 6A6 E I A ti tBe fit A Parti¢paat retbing hereunder on or after his Early Retirement Date may receive either a deferred or ao immediate monddy retirement benefit payable for life apQ tgn y ~s cena~as follows: (the remainng o[6.06 is mrLanged) CFIANGE #10 '7.05 RnneS ' R ~ t of Pavmevt A Benefioary may not elect an optional form of benefit, howe m, the Board m irs discretion, may elect to make a lump sum payment tp a beneficiary of the deaW benefira payable hereunder: that beat meets the f h d th Trt t. A bevefidary may, in lieu of any benefit provided iv Sections 9.02, 7.03 & 9.04 above elect m receive a refund of the deceased Parb¢pant's Aavmutated Contributions. CFIANGE#11 8.06 Disability Payments & Workers Comcensatlov . 'mar-ieees9r3vesN~ (the remaining of 8.06 is unchanged) CFfANGE#12 ARTICLE 8. VESTING (section remains unchanged until paragraph B)) B) H the Pazrirlpavt has the required number of yeas of Credited Service spedfied in the Adoption Agreement ~ Section dl~~, Termina4on of Emolovment and Vestine, the Paztiopant shall be entitled to a recrement benefit that is the Actuarial Equivalent d'the Accrued Benefit otherwise payable to him mmmenoag at the Partiapant's otberwise Normal or Eazly Retirement Date, provided he does not elect m withdraw his Aavmulated Contributons and provided the Partlcipavt suzvives to his Normal ox Early Retirement Date (the remaining of Article 9 is unchanged) CHANGE#13 Article ]0, Optional Forms of Benefits (A) In lieu of the normal form of benefit as specified herein, a Partidpant's Eazly or Normal Retirement Benefit may be paid in an optional form as seleMed by the Parti¢pant. A Disability Benefit may only be paid in Ne Normal Form of Benefit. Subject to the approval of the Board or its designee, the Partiapant may elect m receive the Actuarial Equivalent of the benefit otherwise payable m the Partiopant in arrvrdancn with one of the following options: 1. M thly' f9 f th f th P t A4eeNdyiceeme 2. Monthly in me payment for the life of the Participant and after bis death, a survivor cannviry payable for the Life pf the Participant's designated benefiaary equal Yn, too%, 88 2/3 or 60°%5&% of the amount payable to the PartiaPant. 3. SurL other amount and form of retirement benefit payment that, is the opinion of the Board, will meet the rimumstances of the Retiree and the Trust. (section remains mchanged until (E)) (E) Unless otherwise allowed by law. aA Parti¢pant may not change his benefit payment opera after the date of cashing or depositing hiv first 6eoefi[ check. CHANGE M14 ARTICLE t2 CLAIMS PROCEDURES Firefiehter Police Officer and Pubti of tv Offi o P1 n h t A o*nb' had d Ch to 175 343 d h to 18s a fl tat d to h th B d f Tru t d t h ti rl ' d th H d' t' h d. F ~€r 1 th f ll ~' d R b] (the remaming of Article 12 is unchanged) CHANGE #15 ARTICLE 19 REPEAL ORF TERMINATION OF PLANS (the remaining of Article 1B is unchanged) PENSION CONSULTANTS BOGG3 & A330CIATES Murray Cahen, Ph,D., ASA. MSPA, EA 4326 Mltldle Leke prlve Tampa, FL 33824 18131 8635362 May 30, 1996 MEMORANDUM T0: Joyce Case, Plan Atlminisrrai /~.~~ /l or / /yjys' Florltla Lea BUe of Citles I ,, t f(p y ~ ~/uu~~ FROM: Murray E. Canen A9A,EA ~~~~ ( , W / ' Consulting Actuary SUBJECT: Impact of the Changes to Ine Floritla League of Cities' Florida Munlcipel Pensi on Trust Funtl Daflnetl Benefit Plan As repuestetl, I have reviewed the Changes to the Fbritla League of Citles' Florida Municipal Panslon Trust Funtl Definetl Benoflt. In my opinion the motlificatlons tlo anga any of the characteristics of Iha plan es administeretl that woultl result a change In the ret7uiretl level of contributions. Please note tnal Ine normal farm of beneir[ statetl in Plan prior to the changes waa a sinBla Ilfa annuity and the normal form of benefit after the changes was a benefit payabio for [en 1101 years certain antl Ilfo. As [his change hatl been an[IClpeted In ell acNarlal calculations, there is no cost impact. FLORIDA MUNICIPAL PENSION TRUST FUND Retirement Plan and Trust for the Firefighters & Police Officers of the City of Longwood Restated 05/2P/96 Spo¢sored and Admwstered by: FLORIDA LEAGUE OF CITIES, INC. 201 West Pazk Ave¢sse, P.O. Box 1757 Tallahassee, FL 32302-1757 ` (909) 222-9684 Suncom 289-5331 "Fax (904) 222-3806 TABLE OF CONTENTS ARTICLE 1 DEFINITIONS Section 1.01- Sectiov 1.34 Defini'Bons ARTICLE2 PARTICIPATION Sectiov 2,01 Conditions o£ERgihility 16 Section 2.02 PaztiClpation li Section 2.03 Change in Designatlon of Beneficiary 1T ARTICLE 3 BOARD OF TRUSTEES senttnn3.o1 BoazdofTrustees 18 ARTICLE 4 FINANCFS AND FUND MANAGEMENT Section 4.01 Establishment and Operation of Fuvd 21 ARTICLE 5 C.ONTRIBOTIONS Sectiov 5.01 Participant Contributions _ 2G Sectiov 5.02 State Contribution 26 Section 5.03 City Covtrbutions 26 Section 5.04 Other 29 ARTICLE6 BENEFIT AMOUNTS AND ELIGIBILITY Section 6.01 Normal Retirement Date 28 Section 6.02 Normal Retrsemevt Benefit 28 Section 6.03 Normal Form oCBevefit 28 Section 6.04 Cost of Living Adjustments to Benefit Payments 29 Section 6.05 Eazly Retirement Date 29 Section 6.06 Eazly Retirement Benefit 29 ARTICLE? PRE-RETIREMENT DEATH Section'/.o1 Prior to Vesting-In~Line-Of-Duty 31 Section 7.02 After Vesting-In-Line-Of Duty 31 Section 7.03 Privr to Vesting-Off-Duty 31 Sectio¢7.04 After Vesting-OR'-Duty 31 Sectlov 7.05 BeneS¢azies in Rzctipt of Paymevt 31 ARTICLE 8 DISABILITY Sectivv 8.01 Disability Bene&ts 1o the Line of Duty 32 Section 8.02 Disability Bevefits Off~Duty 37 Section 8.03 Covditiovs Disqualifying Disability Be¢efils- @¢ Section 8.04 Physical Examination Requirement 39 Section 8.05 Disability Paymwis 40 Sectio¢ 8.06 Disability Payments and Workers Compensatlon 40 ARTICLES VESTIN 42 ARTICLE IO OPTIONAL FORMS OF BENEFITS 44 ARTICLE 11 BENEFTC RTES 46 ARTICLE 12 CLAIMS PR CED RE 47 ARTICLE I3 REP RTST DM I N TIREMENT 49 ARTICLE 14 RO F. OF RET REE 51 ARTICLE 15 YAND PRO 52 1 ARTICLE 16 MAXIMUM PENSION Section 16.01 Basic Limitations z3 Section 16.02 Parti¢pation in Other Defined Benefit Plans 54 Section 16.03 Adjustment in Limitations 5M1 Section 16.04 Aaxued Benefit as oCEllecRve Date 58 Section 16.05 Cost-oC-Living Adjustments 58 Section 16.06 Limitations on Lice Insurance and Amuity Contracts Con4acts fox Pamripant's Benefit 5S ARTICLE 17 DISTRIBUTION OF BENEFITS 59 ARTICLE 18 M[SCFLI.ANEOUS PROVISIONS Section 18.01 Interest of Participants in Pension Plan C,3 SecROn 18.02 Summary Plan Descriptions 63 Section 18.03 Gender and Nvrnber 63 ARTICLE I9 REPEAL OR TERMINATI N FPLAN 4 ARTICLE 20 EXEMPTION FROM EXECUTION-NON ASSIGN ILITY 68 ARTICLE 21 RFEITURE OF PENS N ARTICLE 22 SIGNATORIES 73 ARTICLE 1 DEFINITIONS As used herein, unless otherwise de5ved or required by the wnte t, the following words and phrases shall have the meanng indicated 1.01 "Accumulated Contribut ovs shall mean a Participant's ovm contributloas without interest. 1.02 "Accrued Benefit"~ shall mean a fractiw of the benefit to which a Participant would be entitled at rhea Normal Retirement Date. The numerator of the fraction is the years of partiopa¢on completed to date and the denominawr is the years of participation m the Plan that would have been earned if the Partiopavt cnniivued employment until their Normal Retirement Date. 1.03 "Act_va y±' shall mean ao actuary that is a member of the Society of Actuaries or the American Academy of Actuaries and who is enrolled under subtitle C of Title III o£the Employee Retirement Income Security Act of 1974. 1.04 "Actuarial Evuivalant"~ shall mean a benefit or amount of equivalent murent value to the benefit that would otherwise have been provided to the Paridpant, determined on the boas of appropriate actuarial methods and actuarial assvmptiovs determined by the Actuary as described in Exhibit B. 1.05 °Aa ti gee ene,. shall mean the Florida Municipal Pensiov'hust FWnd Defined Benefit Plan and 1Yvst Adoption Agreement executed by the Employer to adopt this Plan. t.e6 "Annual Additions"~ stall mean, fox any Limitation Yeaz, the sum of (A) the amonnt of Employer covtibutions aLLacated to the Partiripant during any Limitation Year under any defined contribution play maintained by the Employer; (B) the amount of the Employee's contributions (other than rollover contributions, if any) to any contributory defined mvtribution play maintained by the Employer; (C) any forfeitures allocated to the Partidpant under any defined cov[ributlon plan maintained by the Employer; or (D) emouuts allocated to an individual medial aao®t, as defined in Section 415(1)(2) of the Code that is part of a pension or annuity plan mammined by the Employer, and amounts derived from contributions that are attributable to post-retirement medical benefits allocated to the sepazate account of a key employee (as dewed iv Section 418(d)(3) of the Code) under a welfare benefit plan <as defined m Section 418(e) of TEe Cade) maintained by the Employer; provided, however, the percentage limitation set forth m Sectlon 415(c)(1)(B) of the Code shall not apply ta; (I) any coutribution for medical 6evefits (within the meaning of Section 918A(t)(?) of the Code) after separation from service which is otherwise treated as an "A~ual Addition;' or (2) any amount otherwise treated as an "A~ual Additon° under 6ection 416(1)(1) of the Code. 1.07 "Averaee Final Comnensation'S shall mean one-twelfth (1/12) o£ the average annual compe~ation of the five (5) best yeazs of the last ten (10) years of Credited Service prior m retuemen[, termination or death, or the career average, whichever is greater. A yeaz shall be deSned as the twelve (12) consecutive mmths immediately prim m death, disability or retrsement. In the case of a volunteer firefighter, Average Final Compensation shall mean the average Salary of the ten (10) best crontrihuting years prior to change in status [o a permanent full-time firefighter or retirement as a volunteer fixeSghter or the caeeer avmage, whichever is greater. 1.08 `BeveSciard': shall mean the person ox persons entitled to receive benefits hereundm at the deafL of a Partiapant who has or have been designated in writing by the Partiopant and filed wdth the Board. ff no such designation is in effect. or ff no person so designated is livin„ at the rime of death of the Participant, the beneficiary shall be the estate of the Pattiopant. 9.os `~ shall mean the Boazd of Trustees, which shall administer and manage the Plan as xequued by Chapter 175 & Chapter 385, Fem. For Gevmal Employees Plans, Boazd shall mean the Employer. 1.10 "Codes shall mean the Internal Revenue Code of 398G, as amended from time to time. 1.t1 "Credited Service": shall mean the total number of years and fractlonal parts of years as a Particpant during which the Partirpant made required covtributio~ to the Plan, omitting intervening years ox &actionat parts of years when such Participaat is not employed by the Employer. A Partiapant may voluntarily leave ktis Participant contributions m the Fund £or a period offive (5) years after leaving the employ of the Employer peudivg the possbility of being rehired without losing coedit for the time that he was a Participant m the P1av. If the Participant does not became reemployed within five (5) years, then the Accumulated contribsstims will be retvmed to the Participant without interest. When a participant leaves employmentia order to (A) perform hairring and service th the Armed Forces of the United States Merchant Marine, or B) report for the propose of being inducted into, entering, oz detemtirdng, by preinduction ox other examination, physical fitness m enter the Armed Forces, whether or not volvnimr4y, the Parti'apant shall receive Credited Service for the yeazs or fractloval parts of yeazs that he is engaged iv sorb Armed Force or Merchant Marine activities in accordance with the Unformed Services Employment and Reemployment Rights Act of 3994, as amended, if he leaves his wntributio~ in the Fund during his 7 absence. Except as otherwise provided by the Uniformed Semres Employmen[ and Reemployment Rights of 1994, as amended. the Parti¢pant shall receive Credited Service £m the period of military sernce based on the following conaitipos: (A) For Fireheh[ere Only the Parti¢pave meat return tv his employment wittvn one (1) yeaz following the date of military disrLazge; (S) For Fired here Only; the Partinipavt must deposit inm the Fvnd the same sum that the Parti¢pant would Lave contributed if he had remained a Pazti¢pavt, plus av amount of interest determined utiSavg iLe interest assumPtiov in the prior years' valuation fmm the date the Partiapant left employment to the date of payback. (C) the maximum credit for military service shall be Sve (5)yeara. 1.12 "Early Retirement Dete"~ shall mean the date which as specified m the Adoption Agreement ~ Section G3, Eazly Retirement Date. 1.13 "Effective Dale"~ shall mean the date specified is the Adoption Agreement -Section AI. 1.19 "Employee"~ stall mean the classes of employees designated as eligible to partitipate in ttis Plan as spedtied is the Adopton Agreement Section B, except as otherwise provided in the Adoption Agreement. 8 1.15 "Emnlover"~ shall mean the governmental entity, public agency or political subdivision established within the State of Florida that adopts this Plan. t.16 "Family Membex" of a Highly Compensated Employee shall mean such Employee's spouse, lineal descendant or ascendant, or the spouse of his lineal descendant or ascendant provided, however, that for purposes of determining the limit of a Highly Compensated Employee's Compensation order Section 401(a)<17) of the Cade, the term "Family Membet' shall include only the Employee's spouse and his lineal descendants who have not attained age 19 before the close of the Plan Yeaz. 1.17 "F1reHgli~~` shall mean any person employed solely io wnstituted Fire Depar¢nent of any muniapality or special fire con4ol dishict who is certified as a ASre]'rghter ae a conditlon of employment in accoxdavice with the provisions of Section 633.35 ~, Sr_at, and whose duty is to extinguish fixes, to protect life, and to protect property. Public Safety OfScers who have not been certi5ed as pazti¢pating iv Chapter 175, Fl. Stat. shall be wnsidered police offices for xetixement purposes and shall be eligible to participate is Chapter 185. M. Stat. ].IS "Fund": shall mean the 14ust Fund established herein as part of the Play. 1.19 "General Emp~, ee_ shall mean any full time employee no[ otherwise classified as a police officer, public safety officer, firefighter or volunteer fixefighta ox, as otherwise specified in the Adoption Agreement. 1.20 `71' hl C ated Em 1 shall mean (A) (1) any Employee during the Plav Yeaz or the immediately preceding Plan Yeaz whose Section 415 Compensation was more than 5'15,000 (adjusted under such regulations as may be issued by the Secretary of the RYeesury); ox (2) whose Section 415 Compensation was more than $50,000 (adjusted under such regulations as may be issued by the Secretary of the 1Yeasury), and who was a member of the'Yop paid group"; Provided, that as used herein, "top Paid group" shall mean all Employees who aze in the top 20/ of the Employer's work force on the basis of Section 415 Compensation paid during the yeaz; provided, furdrer, that for purposes of determudng the number of Employees m the top paid getup, Employees described in Sectlo¢ 414(9)(8) of the Internal Revenue Code shall be excluded. (B) m determining who ie a Aig7ily Compensated Employee, Employees who aze nonresident aliens and who receive no earned income (within the meanng of Section 911(d)(2) of the Code) from [he Employer constituting United States source income (within the meaning of Section 881(a)(3) of the Internal Revenue Code) shaIl not be treated az Employees. (C) Cox purposes of this pazagraph, the determination of Sector 435 Compensation shall be based ody on Section 415 Compensation that is actually paid and shall be made by including elective or salary reduction contributions [o a plan described in Section 125 of the Code, a plan described in Seetiov 901(k) of the Code or a plan described in Section 903(6) of the Code. m) the term "Highly Compensated Employee" shall also mean any former employee who separated from senate (or was deemed m have separated from service) prior to the Plan Yeaz, performs no sexviw fox the Employer during the Plan Yeaz, and was an actively employed Highly Compensated Employee in the sepazation yeaz or any PLm Yeaz ending ov or after the date the Employee attained age 55. (E) for purposes of determining whether av Employee is a Highly Compensated Employee. H any Employee is a Family Member of a Highly Compensated Employee who is one of the ten Highly Compensated Employees paid the greatest amount of Compensation during the Play Yeaz, then sucL Family Member shall not be considered as a sepaza[e Employee and any Compensation paid to such Family Member (and any applicable benefit or contribution of behalf of surL Family Member) shall be treated as i£ it were paid to or on behalf of the related Highly Compensated Employee. (F) For the puryoses of this Section 415 Compensation shall mean all compensation as described in Section 1.415-2(d)(2) and Secton 1.415 2(d)(3) of the Income Tax Regulations. 1.31 `Rnvestmen§,~gua e~Y`. shall mean any person, firm or corporation who is a registered investment adviser under the Investment Advisors Act of 1940 or who is exempt fium registration under the Act, a bade, ox an insnxance company, and who (A) bas the power to manage, acquire, or dispose of Plan assets, and ai) acknowledges m writing his fiduciary responsibility m the Plav. 1.22 "Limitation Year"' shall mean the Plan Yeaz. 1.23 "Normal Retirement Date": shall mean the date as specified m the Adoption Agreement -Section Gl Normal Retirement Dale. 1.24 "Participant or Member" shall mean the employees eligible to participate in this Plan as speofied in the Adoption Agreement - Secton B, PI_av and Section C, EBability 7.26 "P shall mean the pension Plan as herein set forth and as may be amended from time to time. Lze °Plan sear. shall mean the Plan's accounting yeaz of twelve (12) consecutlve mont7ss commending on October 1 of each yeaz and ending the following September 30, ox the Plan Yeaz ae epedfied'm the Adoptim Agnaemmt. 1.27 "Police OfSeer'~ shall mean any person who is elected, appointed, or employed full time by any mu iripality, who is certified ax required m be cmtifed as law enforcement ofS er in compliance with s. 943.1395, fl. Stat. who is vested with authority [o bear arms and make arrests, and whose primary responsibility is the prevention and detectim of crime or the enforcement of the penal, criminal, traffic, or highway laws of the Stale. 'Pltis def lion inr]udes aR certified supervisory and command pexsomel whose duties include, m whole ox is part, the supervision, training, guidance, and management responsibilities of full-time Lrw enf'omemevt officers, part thne law enforcement officers, or auxiliary law enforcement officers, but does not include pazhtime Law enforcement officers ox auxi]iary law e~omement officers as the same are de5ned in s. 943.10(6) and (9) fl. Stale, respectively. A Police Officer ciassiScatiov shall also include a public safety officer who is responsible for performing both police and fire services. 1.27 "Public Sxfety Officer" shall mean an actively employed persm who is xeepovsibie for performing both firefighter and police officer services. APublic Safety Officer shall be considered a'police officer" Cor the puryoses of this Plan, 1.28 "Satarv/Compensation': shall be as svecified io Section D of the Adoptiov Agreement. (A) No compensatlon in excess of the $150,000 limit under Sectiov 9oi(a)(1'n of the Cade (adjusted ~mder such xagulatiovs afi may be issued by the Secretary of the 't7easury) shall be taken into araouat for any Employee. H a Plan Yeaz ranasts of fewer than 12 months, the Compensation limit will be multiplied by a fraction, the vumeraror of which is the vumbm of months in the Plan Yeaz, and the denominator of which is 12. B) For purposes of determining whether Compensation exceeds the linut under Section 401(a)(1'7) of the Code, if any Employee is a Family Member of a Highly Compensated Employee who is one of the ten Highly Compensated Employees paid the greatest amouvt of Compensation during the Plan Yem, then such Family Member shall not be comsidered a as a sepazate Employee and avy Compensation paid to such Family Member shall be heated as il it were paid m or on behalf of the r ]ated Highly Compensated Employee. 1.29 " shall mean the law2ul wife or husband of a PartidpanG 1.30 `"poW and Pemnavent DisabiliYW'~ shall mean a physical or mental condition of a Pazliapant resutting from bodily injury, disease, or menW disorder which renders him ivrapa6le of ruativuiag any gainful occupation with the Employer, or in the ease of a FireSghter, Police Officer or Public Safety OBcer renders him incapable of employment as a Firefighter, Police Officer or Public Safety Officer, respectively, and which conditlon cntstitutes to[al disability as determined by the Board 1.31 '"Crust Fi nd or Tn~st"~ shall mean the'f]vst Fund established under this Play to hold Plan assets and to which contributions aze ro be paid and benefits held. Nothing herein shall preclude the establishment of more than one trust fund as may be required by law or adopted by the Employer. 1.32 `"Prustee'": shall mean the person or persons named as 1Yustee in this Plan or io any sepazate trust adopted by the Employer or required by law. 1.63 `Naluadnn Date": shell mean tt~e first day of the Plan Year. 1.54 "Vo7untenr Fire6nhter": shall means any person whose name is ranied on the active membership roll of a constituted volunteer fire depamnent or a combination of a paid and volunteer Sre department o£ any municipality or special fire control distriM and whose duty is to extinguish foes, protectlife, and to protect property. Compensation for sernces rendered by a volunteer Scefighter shall not disqualify him as a volunteer. A person shall not be disqualified as a volunteer solely because be has other gaitdul employment. Any person who vdmteers assistance at a fire, but is not an active member of the depmYment desmibed herein m not a volunteer firefighter within the meaning of this paragraph. 15 ARTICLE 2 PARTICIPATION 2.01 Conditions of Elieibility A ParGapant shall became eligible to parti¢pate iv this PLm as speafied in Section C of the Adoption Agreement. For Fires htex Police Officers and Public Safe Office a condition of eligibility, the Employee partupanrs shall be required to wmplete a medinat examinaGOV as prescribed by Ne Board, and provide complete and axurate information concerning then health status as requested by the Boazd Any material misstatements or omissions of required health or medical information 6y an applicant or Participant shall be grounds fox denial of bene5rs. Based upon medical evidence of any pre-e;dstivg adverse health condition, resulting from the prescribed examination or other medical recrords or history, the Board may determine ineligibility for disability benefits hereunder, as related to such pre-existing condition. A Participant may be declared ineligible for disability benefits o~y at the time o£ the initiat examination provided in this section, or at a latex date if the Board established that a condition misted at the time of the Parti¢pants employment or date of parti¢patioa, and the condition was known to the employee. A determination of pre-mdsting condition shall be recorded on the Partiapant's record of membership, a copy of which shall be provided m the Participant, and shall be reflected is the minutes of the Boazd meeting at which such determinmton was made by the Board The procedures followed and the determination of the Board as to apre-existing condition shall be comddexed on a uniform, non-dismiminatory basis. 2.02 Particinat on Each Participant shall complete a Form prescribed by the Beazd providing the following ~ information: (A) Acceptance of the terms and mvditions of the Plan, B) desigvatlon of a 6euefiriary or bene5~daries, (C) for Firefighters, Police Officers and Public Safety Officers only 1) acertified statement as to prior medical history, and 2) a wmver to celease and arress medical records. 2.03 (`B D t f B fi' A Participant may from time to time change his designated Benefi¢ary by written notice to the Boazd upon forms provided by the Boazd Upon such change, the rights of all previously designated beneficiaries to receive any beneSis under the Plan shell cease. Arhaage of beneficiary shall mtxequire consentoffhe beneffriazy. "'~ ARTICLE 3 BOARD OF TRUSTEES 3.01 B d fTru t IP IicoOfficers Publie Safety Officers and Firefiehters Plans Onlvl (A) The sole and exclusive administration of and respomdbility for the pmper operation of the Plan is hereby vested in a Boazd of Trustees consisting o£ five (5) lavstees. These trustees shall be selected according to Chapter 1'/5.351(16)(a) F7 9ta(: and Chapter 186.36(4)(x) Fly. Earlt resident tivstee shall serve as trustee for a period of two (2) years, udess sooner replaced by the govervng body of the Employer at whose pleasure the Boazd member shag serve, and may succeed himself as a Boazd member. Each Pareopant member shall serve as a Board member for a period of two (2) years, udess he sooner leaves the employment of the Employer as a Participant or otherwise vacates his office as Board member, whereupon a successor shag be chosen iv the same manner as the departing Boazd member. Each Boazd member may succeed himself m office. The Board o£ Trustees shall meet at least quarterly each yeaz. Each Boazd of 1]vstees shall be a legal entity with, iv addition to other powers and responsibilities contained herein, the power to bring and defend lawsuits of every kind, nature, and description. Accurate and detailed accounts o£ all Boazd meetings must be kept All accounts, books and records relating thereto shall be open m inspection and audit iv accordance with general law. The Board shall issue such reports as are requested and make available to the same for ivspectton any and all records and accounts which are deemed appropriate m order to comply with governmental regulatiws issued thereunder. t8 (B) The Boazd membera shall, by a majority vote, elect a Chairman and a Secretary. The Secretary, or other designee of the Boazd shall keep complete minute book of the actions, proceeding, or hearings the Boazd. The Boazd members shall not terrine any compensation as such. but may recmve expenses and per diem as provided by law. (C) Each Boazd member shall be entitled to one vote on the Board. Three (3) affirmative votes shall be necessary for any decision by the Board members at any meeting of the Boazd. A Boazd member shall have the right to abstain from voting as the result o[ a conflict of interest provided that Boazd member states m writing the nature of the conflict and wmpBee with the provisions of Section 112.3143, kA Stat (D) The Board of Trustees shall engage such actuarial, accounting, legal, and other services as shall be required m transact the business of the Plav. The compensation of all persons engaged by the Boazd and all other expenses of the Board necessary for the operation of the Plan shall be paid Eom the Fund at sorb rates and in such amounts as the Boazd of Trustees shall approve. (E) The duties and responsibilities of the Boazd of'ltustees shall include, but not necessarily be limited to, the following: (1) To construe the provisions of the Plan and determine all questions arising thereunder. (2) To determine all questions relating m eligibility and parti¢pation. (3) To determine and certify the amount of all benefits hereunder. (9) To establish uniform rules and pxooedncea to be followed fm administrative purposes, benefit applications, and all matters required w administer the Plan. (s7 To distribute to Participants. at regular intervals, information concerning the Plan. (s) To recerve and process all applications fox partiripation and benefits. (]) To authorize all payments whatsoeverfromtheFWd, and to notSy the disbursing agent, in writing, oC approved benefit payments and other expenditures arising trunugh operation of the Plan and Fund. (8) To have performed actuarial studies and at least triennial valuations, and make recommendations regarding any and all changes in the provisions of the Plan. (9) To perform such other duties as required to admin'x>. the Plan. (]0) Arrange for and select physicians far medical exams and review and advise on medical disability eligibility issues. (ip Invest and reinvest she assets of the Fund ARTICLE 4 FINANCES AND FUND MANAGEMENT 9.01 Establishment and Operation of Fund (A) As part of the Plan, there is hereby established the Fund, into which shall be deposited ah of the wntdbu¢ons and assets whatsoever attributable w the Plan, including any assets of any prior munidpal trust fund(s). (B) The actual cunody and supervivon of the Fund (and assets thereofl shall be vested m the Board Paymevt of benffiss and disbursements from the Fund shah be made by the disbursing agent bui only upon written authorization from the Boazd or its designee. (C) Nl funds and securities of the Plan may be deported by the Boazd wi[h the Employe; active in a ministerial capa¢ty ovly, who shall be liable m the same manner and to the same extent as he is liable for the safekeeping of funds for the Employer. However, any funds and securites so deposited witk~ the Employer shall be kept io a sepazate fund by the Employer or cleazly iden¢5ed as such funds and securities of the Plan. In lieu thereof, the Boazd shall deposit the fund and secudtiea io a quali5ed public depositary as defined in Section 280.02, FI. Slat, which depository with regmd w sorb funds and securities shall conform m and 6e bound 6y all of the provisions of Chapter 280, Fl 5~ In order to fulfill its investment responsibilities as set forth herein, the Boazd may retain the services of a custodian bank, an inn tment adviser registered under the Investment Advisors Act of 1990, or otherwise exempt from such required registration, an msuran ompany, or a combination of these, for the purpose of iuvestment dceasioms and management Such mves[ment mmrager shall have discretion, subject [o aay guidelines as presraibed by the Board, in the investment of all Fund assets. (D) All funds and securities of the Plan may be commingled in one trust fund for collective investment purposes, with trust created under any other qualified retirement plan. As proivded in the Master Trust Agreement the Trustee is specifically authorized to invest all or any portion of the assets comprising the Trust Fund in any group trust fund which at the time oC the investment provides for the pooling of the assets o£ plans qualified ender Code 401(a). The provision of the getup trust fund agreement as amended from time to time, aze by this reference incorporated within this Plan and Trust. The provisions of the group trust fund mill govern any investment of PLm assets in that fund The group trust hind to which this authorization applies is listed under Eil bit 4 Accuxatc records axe m be maintained at all times reflecting the 5nantial composition of the Fund, including accurate current accounts and entries as regazds the following: (I) Current amonnts of accumulated contributions of Par¢tipants on both an individual and aggregate account basis, and (27 receipts and disbursements, and (3) benefit payments, and (4) eunent amounts dearly reflecting all monies, funds and assets whatsoever attributable to couhibutious and deposits firm the Employer, and (A) all interes4 divtdends and gains (ox losses), and (6) such other envies as may be properly required so as m reflect a cleaz and complete fivavaal report of the Fund. (E) An independent audit shall be performed annually by a certified public accountant for the most recent fiscal yeaz of the Employer showing a listing of assets and a smtement of all income and disbursements during the year. Such income and disbursements must be reconciled with the assets at the beginning and end of the yeaz. Surh report shall reflect a complete evaluation of assets on both a cost and mazket basis, as well as other items normally includnd in a certified audit. (F) The Board of Trustees shall bane the following investment powers and authority: (1) The Board of Trustees shall be vested wish full legal lifts to said Fund, subject, however, and in any event to the authority and power of the governing body of the Employer to amend or terminate this Plan, provided that no amendment ox termination shall ever result in the use of any assets of Fund except for the pa}rzvent of regulaz expenses and benefits under this PLm, and except as otherwise provided in this Plan. All contributions deposited into the Fund, and the income thereof, without distinction between prindpal and into e, shall be held and adurinis[ered by the Boazd, m its agent, io the Fund and the Boazd shall not be required to segregate or invest separately any portion of the Fund. (2) All monies paid into ox held in the Fund shall be invested and reinvested by the Boazd. The Funds shall be invested m accordance with an established investment polity adopted by the Board. The adopted investment policy will be made part of this documenc and shall he attached as EzlribitA (3) The Boazd may cause any investment in securites held by it to be registered is or transferred into its name as Trustee or into the name of sorb nominee as it may direct, ox it may retain them vazegistered and in a form permitting transferability, but the books and records shall at all times show that all investments are part of the Trust Fund (9) The Boazd is empowered, but is not required, to vote upon any stocks, bonds, or securities of any corporation, association, or bust and to give general or specific proxies or powers of atmxney with or without power of substitution to participate m mergers, xeorganvations, recapitalization, consolidations and similar ssansactions with respect to such securities; to deposit such stock pr other securities is any voting trust or any protective or like committee with the Trustee m with depositories designated thereby; to amortize or fail to amortize any part or aLL of the premium or discount resulting from the acquistiov or dispadton of assets; and generally to exernise any of the powers of an owner with respect to stocks, bonds, ar other investments comprising the Fund which it may deem to be in the best interest of the Fuvd to (v) ~My overpayments or underpayments from the Fuvd to a Par¢rpant or bene5rdary caused by arrors of computation shell be adjusted with interest at a rate per annum as un"tin din the prior years actuarial valuation. Overpayments shall be charged against payments next succeeding the correction. Unde[paymevts shall be made up from the 1Yvs[ Fund. (6) In any application [o of proceeding ox action in the rnurts, the Boazd and Employer shall be a vecessary pazty, and no Parciupant ox other person having an interest in the Fuad shall be entitled [o any no¢ce ar service of process. Avy judgment encered m such a proceeding or actiov shall be conrlusve upon all pexso~. PD Any powers andfunctions of the Board may ha performed pr carried out by the Board through duly authorved agents, provided that [he Board at all times maintaivs continuous supervision ovu the acts of any such agevt; provided further. that legal title tv the Fund always remain with the Board ARTICLE 6 CONTRIBUTIONS 6.01 Partivinant Contrlbu (A) Amnunt Parti¢pants in the Plav shall be required to make contributions to the Fund in the amount sper.Sed in the Adoption Agreement - Section K, F,mplovee Contributions. B) Method Partiopant contributions shall be made by payroll deduction. Participant contrbutions withheld by the Employer on behatf of the Parti¢pant shall be depositedin the Fund at ]east monthly. (C) Pre-Tax Emolovee Contributions If pre-tax Employee Contributions aze applicable, this provision will be voted within the Adoption Agreement - Section K as pre-tsx contributions pursuant m Sectloo 414(h) of the coos, otherwise the Plan will assume aver tax wntdbudous. Such designation u contingent upon the conaibutioa being excluded from the Employees gross mcome Far federal income tax purposes. For all other purposes of the Plan, such contributions shall be considered Employee contributions. 5.02 State Contributions Any monies received or receivable by reason of laws of the State of Florida, for the express puryose of i ding the Plan shall be deposited in the Trust Fund compxi-vng part of this Plan immediately. Contributions must be deposited within five (5) days after receipt by the Employer. 5.03 Emnlover Contrlbutlons So long as this Plan is in effect, the Employer shall make quarterly covtrihutiovs to the Trust Fund for each Plan Year in ao amount equal to the amount determined by the 2E Actuary, taL'ng into account Participant Contributions, state contributions for such Yeaz, and the total cost far the Plan Yeaz, as repxesevted m the most recent actuarial valuation of the Plan. The total cost fox each Plan Yeaz shall be de5ned as the total n anal costplus the additional amount sufficient W amortize the unfunded past service liability oyes the appropriate periods, commencing with the Employers Play Year in which the e(i'eclive date of this Plan ours as detemdned by the Actuary. 5.04 Other Private donarions, gifts and contributions maybe deposited to the Fund. ARTICLE 6 IIENEFIT AMOUNTS AND ELIGIBII.PPY 6.01 N al R t t D t A Participant's Normal Retlrement Date shall be as specified in the Adoptim Agreement -Section Gl, Normal Reirement Date A Participant may retire on his Normal Retirement Date or on the first day of nay month thereafter. Normal Retlrement under the Plan is retirement from employment with the Employer on or after the Normal Retirement Date and mmplellon of the required years of ¢edited 6.02 Normal Retirement Benefit A Partiopaat xetirmg hereunder on or after bis Normal Retirement Date shall receive a monthly benefit as specified in the Adoption Agreement -Section G2, Norma] Retirement Benefit which shall commence on the first day of the month following his termination of employment. >a the event that a Participant does not begin to receive his Benefit at bis Normal Retirement Date, such Participant shall be entitled to a deferred benefit equal to the benefit 6e was enttled to receive at his Normal Retirement Date, adjusted to take into account his Av¢age Final Compensation and yeazs of Credited Service as of his actual retrement date. 6.03 Norma] Form of Benefit The normal form of benefit shall be a single monthly retirement benefit for life and ten yeas rena;n. s.oa ceatneLi~nnAa;nsimontamBanestPa.~manta A costof~Rving inmease, if applicable, shall be as speofied m the Adoption Agreement, Section L - COLAAdiustments 6.06 Parly Retimmeat Data A Partiapant may retire on the Early Retirement Date as specified in the Adoption Agreement -Section G3, Ealy Retirement Date, Eazly retirement under the Plan is termination from employment with the Employer ov or after the Early Retirement Date and prior to the Normal Retirement Date and the completion of Ne required yeaza of credited service 6.06 Early Retirement Benefit A Parptipant retiring hereunder on ox after his Eazly Retirement Date may receive either a deferred or an immediate monthly retirement benefit payable for life and ten years certain as follows: (A) A deferred monthly retirement benefit which shall commence on what would have been Ins Normal Retirement Date had he remained a Partiripant. The amount of such deferred movwy retirement benefit shall be determined iv the same manner as for retirement at his Normal Retirement Date except that Credited Service and Average Final Compensation shall be determined as of his Early Retirement Date; or B) An immediate monthly xetlrement benefit which shall commence on his Early Retrement Data_ The amount of Tha Early Retirement Benefit shall be determmed in the same manner as fox Retiremenv at his Normal Retirement Date except benefit shall be actuarially reduced as specfied in Section G4 of the 20 Adop¢on Agreement for each rear be£oxe the Normal Retirement Date that benefit payment commenced. (C) If a Partiupant sepazates from semce before satisf}wg fate age requirement for early retirement, bun has satisfied the service requirement, the Partitipant will be entiNed to ao early retirement benefit upon satisf'actlon d' such age requirement. ARTICLE 7 PRE-RETIREMENT DEATA ].01 Prior to Vestine-In-Line-0f--Duty Prior Lo xeticement, if the Pamripant dies in~line~o£-duty, and he is not vested, his beneficary shall receive benefit as speaSed iv the Adoption Agreement ~ Sectlw I1, Prior m Vestine ~ 1n-Line-OFDuty. ].02 Aft V t - I -L' e-0f-D tv Prior to retirement, if a vested ParMpant dies in-tine-oGduty, his beneficiary shall receive benefits as spedSed iv the Adoption Agreement ~ Section I2, After Vestine ~ In-Line-OfDuty ].03 Prior to Vesti e - O[f-Dorn The benefiasxy of a deceased Particpant who was not vested and who dies prior to retirement from reuses other than imline-of-duty shall receive a cefund of one hundred percent (100%) of the Participants' Accumulated Contributions as speciSed m the Adoption Agreement Section ]2. 1.04 After Ves~OEf~ If a vested Particpant dies prior m retirement from causes other than~imline-ofduty, his beneficary shall receive the benefit athexwiae payable to the Participant at the Eazly or Normal Retirement Date. 7.05 Aenef curies Receipt of Payment A Bevefioary may not eleM an optimal form of benefit, however, the Roard, in its discretion, may elect to make a lump sum payment to a beneSuary of the death benefits payable hereunder that best meets the csscumstances of the beneficary and the Trust. A benefiaary may, in lieu of any benefit provided in Sections 1.02, 1.03 & 7.04 above, elect to receive a refund of the deceased Partiapant's Accumulated Contributions. ARTICLE S DISASH.ITY 8.01 Disability Benefits lv-Live-0FDuYv (A) I}ene6ts Each Participant who shall become Totally and Permanently Disabled while an active Partcpant of the Employer to the extent that he is unable, by reason of a medically determinable physical or mental impairment, to render useful and efHrievt semw as a Firefighter, Police Officer, Public Safety Offi.ee or Genera] Employee, respectively, which disability was directly caused by the performance of his duty as Firefighter, Police Officer, Public Safety OBcex or General Employee, respectively shall, upon estab]ishing the same to the satisfaction o£ the Boazd, fie emitted to a monthly pension which is as defined in the Adoption Agreement ~ Section Hl. r*9ability Bev~,t~ Tni The-I.ine~o£Duty. B) Presumnt on Far Fuefiehters Police Officers and Public Safety OBicers~ condition or impairment of the health of a Firefighter, Police Officer ox Public Safety Officer caused by tuberculosis, hypertension or heart disease shall be presumed to have been sutfeced in lme~o£-duty unless shown otherwise by competent evidence, provided that such Firefighter, Police Officer or Pvblic Safety Officer shall have successfully passed a physical examination upon entering into employment with the Employer including a cardiogram, which failed to reveal any evidence of such condition; and provided further, that such presumption shall not apply to benefits payable ox granted in a poky of life insurance or disability insurance. (C) Additional Pres motion (For Firefighters, Police Officers and Public Safety Officers Only) The presumption provided fox in this subparagraph C. shall apply Firefighters, Police & Public Safety Officers only to those conditlons described in t)vs subpazagraph C, that are diagnosed to and on ox after January 1, 1996. (I) Def 'dons As used in this subsection B). the following def 'rions apply; (a) 'Bodily Quids" shall mean blood and body fluids containing visible blood and other body fluids m whirl universal pnecautioms fox prevention of occupational t[ansnnission ofblocd-borne pathogens, ae established by the Centers for Disease Control apply. For purposes of potential transmission of meningococcal meningitis or tuberculosis, the term 'body fluids" includes respiratory, salivary, and sinus fluids, indudmg droplets, sputum and sahva mucous, and other fuids through wMCh infectious aubarne organisms can be hansmftted between persons. (b) "F bli of tv Parti ~ C means any Participant employed finll time by the City or District as a firefighter, pazamedic, emergency medical technician, law enforcement officer, or correctional officer who, N the course of employment, runs a high risk of occupational exposure to 6epattis, mevingoroxal menngitis, or tubemulo9.s and who is not employed eL:ewhere m a similaz rapacity. However, the term emergency rescue or public safety ParticipanC does not include any person employed by a public hospital licensed under Chapter 395, Fl. Stat.. or any person employed by a subsidiary thereof. (c) "Fleoztitis" means hepatitis A, hepatitis B, hepatitis non-A, hepatitis non-B, hepatitis C, ar any other strain of hepatts generally xewgvized by the medical community. (d) "Hiek risk occuoarional emosuxe" means that risk that is incurred because a person subject to the pxovisiovs of this subsection, is performing the basic duties aseaiated with his employment: (i) Provides emergency medical hea4nent in a non-health-raze setting where there is a potential for transfer ofbody fluids between Persovs; (ii) At the site of av aaddent, flxe, ox other rescue ox public safety velsscle, handles body fluids in ox out of aonta;nera er works adty pr nB,erw;ae hanmaa needles or other sharp instruments exposed to body fluids; (iii) Engages in the pursuit, appxeheoeon, and arrest of law violators or suspected law violators and, in performing such duties, may be exposed to body fluids; ox (iv) Is responsible for the custody, and physical restraint when necessary, of prisoners o inmates within a prison, jail, or other mmiaal rdeteoriov facility, while on work detail outside the faedity ox while being 4ansported and, is performing sorb duties, may be exposed to body fluids. (e) "Occupational a ure m the case of hepatitis mevngocaccai meningitis, or tuberculosis, earns an exposure that occurs during the performance of job duties that may place a worker at risk o£ini'ectioa. (2) Presumntion Any emergency r e r public safety Partiupant who suffers a condition or impairment of health that is caused by hepatitis, meningococcal meningitis, or tuberculosis, that requires medical treatment, and that resulss in total or pamal disability or death shall be presumed to have a disability suffered N the line of duty, unless the contrary is shown by competent evidence; however, in order to be entitled to the presumption, the Partiapant must, by written a&davrt as provided in Sec4on 92.50, Fl. Star, verify by written declaration that, to the best of his knowledge and belief, (a) In the case of meningacoccal meningitis, in the 10 days immediately preceding diagnosis be was not exposed, ~+ outside the scope ofhis employment, to any person known tp have merdngococcal menngitis or knovm W be ao asyznptpmatic carrier ofthe disease. (b) In the case of tubemulosis, in the period of time since the Participant's last negative tuberculosis skin test, he has not been exposed, outride the scope of his employment. to any person known by him to have tuben;ulo9s. (b) Immunization Whenever any standard, medically recognized vaccine or other Form o£ immunization or prophylaxis exists fur the prevention of a communicable disease far which a presumption is granted under this section, if medically indicated m the given ¢rcumstances pursuant to immunization polices established by the Adminis4ator on Immunizarion Practices of the U.S. Public Health Service, av emergency rescue or public safety Particpant may be required by the e5ty m District to undergo the =mmurllzation ox prophylaxis unless the Parti¢pant's physaan deteratines in writing that the immunization ox othec prophylaxis would pose a signiScavt risk to the Parti¢pant's health. Absent such wTinen dedazation, failure ox refusal by an emergency rescue or public safety Partiapavt to vndmgo surL immuwzation or prophylads disqualifies the Paxtiopant from the benefits of the presumption. (9) Records of Exonsvxes Ths CYty stall maintain a remxd of any known or x nably suspected exposure of an emergenry rescue ox public safety Parti¢pant m i+s employ to the disease described in this section and shall immediately notify the Participant of such exposure. An emergency xeseue or public safety Participant shall file an mcident ox accident report with the Employer of each instance of knovm or suspected oceupattonal exposure to hepatitis infection, meningacaceal meningitis, or tuberculosis. (u) Reouired medical tests & vreemnlovment ohveical In oxdes to be entitled to the presumption provided by this section: (a) An emergency rescue ox public safety Participant tuner prix= to diagnosis, have nnaargone atanaard. medically acceptable tests for evidence of the commnnica6le disease for which the presumption is sought or evidence of medical condirions derived therefrom, which tests fail to iaaieate tha praaance nfineectinn, or, ;a the case ofhapaaaa infection, shall have booked serum fox future testing, which y future tests fail m reveal evidance of infection. This pazagraph does not apply in the case of menivgococcal meningitis. (b) On or after June 16, lflfl6, an emergevoy rescue or public safety Member may be required to undergo a preemployment physical examination that tests for au fails to reveal any evidence efhepatitis or tubercndosis. 8.02 D' b'1't R St Off-D ty Every Fhefighter, Police OtScer, Public Safety O&cex or General Employee as de5ned in the Adoption Agreement - Section B Plgp who shall have become Totally and Permanently Disabled m the extent Lhat he is unable, by reason of a medically determinable physical ox menW impairment, to render useful and eESclent service as a Firelighter, Police 06cer, Public Safety Officer or Genual Employee as de5ned in Article 1, and which disability is not directly caused by the performance of Ms dudes as a Firefighter, Police Officer. Public Safety 06cer m General Employee, respectively, shall be entitled to a disability benefit as provided in the Adoption Agreement -Section Fit, D' bility B efits Ofl- Dutv. A disabled Participant that does not meet the credited years of servme requirements in the Adoption Agreement -Section H2, Disability Benefits 06- Duty, will receive a return ofhis accumulated contributions withoutinterest 8.03 ~¢p-~iti D' 1'fvi D' b'I'tvB fits Each PareriPan[ who is chiming disability bevefits shall establish, to the satisfaction of the Boazd, that such disability was vot occasoned primarily by: (A) Excessive ox habitual use of any drugs, intoxicants ox alcohol. (B) Injury or disease sustained while wiiudty and illegally par¢cipating in Hghts, riots ox evil insusec¢oas. (C) Snjury or disease sust~.ned while committing a crime. lD) Injury ox disease sustained while serving in any branch of the med Farces. (G) Injury or disease sustained after his employment as a Participant with the Employer had terminated. (F) Willful, wanton or gross negligence of the ParHCpant. (G) Injury ox disease sustained by the Partidpant while worlong for anyone other tban the Participant and arising out of such employment (H) Pre-existlng Conditions 8.04 Ph al E t R t A Parti¢pant shall not become eligible for disability benefits until and unless be undergoes physical examination by a qualified physiasn or physican and/or surgeons, who shall be selected by the Board For that purpose. Any Participant receiving disability benefits under this Plan maY be Periodically re-examined by a qualified physi¢an or physicians and/or surgeon or surgeons who shall be setecred by the Boazd, to determine if such disability has ceased m exist L` the Boazd Ends that the farmer Particpant ie no longer Permanently and Totally Disabled to Ne extent that he is able to render useful and efficient sernce as Firefighter, Police Oicer, or Public Safety Officer. or General Employee, Respectively the Board shall recommend to the Employer that the retiree be returned to performance of duty as a F1m5ghter, Police Offirar or Public Safety Officer, or General Employee respectively, and shall again become eligible to Participate in the Plan. In the event the former Participant so ordered to return m employment shall refhse to comply with the order within thirty (80) days from the issuance thereof, the Parti¢pant shall forfeit the right m his benefits hereunder. The cost of the physical examination and/or re-examination of the Partiopant claiming and or receivdng disability benefits shall be paid 6y the Plan. Ah other reasonable costs as determined by the Boazd ivadevt to the physical exaaunation such as, but not limited m, 4ansportation, meals and hotel accommodations, shall be paid by the Plan. i£ a Participant recovers from disability and reenters the service of the Employer as a Parti¢pmmt, his service will be deemed to have been continuous, but the period beginning adtb the Srst month for which he received a disabihty retirement income paymtent and ending with the date be reentered the service of the Employer will not be considered as Credited Service for the purposes of the Plan. The Board shall have the power and authority to make the final derision xegazding all disability claims. 8.05 Disability Payments The monthly benefit to which a Pmaapmmt is entitled m tha event of the Partiripmmt's disability shall be payable on the fixat day of the first month after the Boazd determines such entitlement. The amount of the first disability payment shall include mm amount payable from the date the Board determined such entitlement Disability benefits shall cease: (A) if the Partiapmmt recovers from the disability prior to his Normal Retirement Date as o£ the date of such recovery, ox (B) If the Particpaut dies without remveriag from disability ox attains Normal Re¢rement Date. 8.06 Disability Payments & Workers Compensation IF a Participant receives a disability benefit under the Plan and woxkets compensation benefits pursuant to Chapter 440, F1 Stav for the same disability and the wtal monthly benefits received from both exceed one hundred percent (100%) of the Participants' average compensation, excluding overtime, the disability Pension benefit shall be reduced so that Fhe total montbly amount received by the Participant does not exceed one hundred percent (100°0) of such salary. In the event a hemp sum workers wmpemsation settlement, and the ~ disability retirement income payable from Ne Plan shall be adjusted as follows: (A) The amount of the Iump sum settlement shall be divided by the Parti¢pant's remaining life expectancy ( montt,s) es determined using the actuarial assumptions represented in the last completed valuation of the Plan. (B) If the number obtained in paragraph (A) above, when added to the Participant's monthly disability retirement income from the Plan, exceeds the ParlitiPant's Snal monthly compensation ov the date of disability, the amount of the excess shall be deducted from Ure Paxlidpant's mommy disability retirement income from the pension plan, far the duration of the Pamripant's remaining life expectancy as determined in paragraph (A) above. ~ (C) If the number obtained in paragraph (A) above, when added to the Parliupant's monthly disability retirement income from the Plav, does not exceed the participant's final monthly compensation on the date of disability, there shall be ¢o reduction of the Parlddpant's disability benefit from the plan. ARTICLE 9 VESTING If a Pazti¢pant terminates his employment with the Employer far reasons other Fhav retirement, disability or death, the Partcpant shall be entitled m the following (A) B the Participant has less than the number of yeazs of Credited Service specified in the Adoption Agreement -Section Jl, T tl f E 1 1 ~ V~gtin~, the Participant shall be entitled to a refund of his Accumulated Cantributlons without interest. (e) TF the Participant has the required number of yeazs of Credited Service specified in the Adoption Agreement -Section J2, T *~+~ f E 1 and Vesting, the Participant shall be entitled to a xeiiremeut benefit that is the Actuarial Egvivalent o£ the Accrued Benefit otherwise payable to him commencing at the Participant's otherwise Normal or Early Retirement Date, provided he does not elect m wiNdxaw his Accumulated Contributions and provided the Participant survives to his Normal or Eazly Retirement Date (C) Any vested Paxiiupant of the Plan who is no longer eligible to parti¢pate m this Plan due to a change of employment, but oho remains employed by the Employer in a lass not eligible to participate under this Plan, shall have his Acmued Benefit to the date of such termination under this Plan preserved, provided he does not elect to withdraw his Accumulated Contributions from this Plan. Such Accrued Benefit shall be payable at his otherwise Early or Normal Retirement Date hereunder in accordance with the provisions ofttbs Plan. (D) Ifa Participant who terminates employmestprior to his Early Retixeanent Date or Lis Normal Retirement Date and elects to withdraw Accumulated Contribntions, is subsequently reemployed and again becomes a Participant in this Plan, his Coedited Service fax purposes of vesting and benefit aaruals shall not include any periods oCemployment prior to his reemployment date unless be repays m the Fund his Acumulated Contributions previously withdravm with interest based on xhe rate assumption represented in the prior years' completed valuation of the Plan. Such repayment must be made no later than the second anniversary of the Par¢cipant'a reemployment. If a Participant repays the foregoing amount to [he Fund w2thin the prescribed time period, the interest of the Parti¢pan[ in his Accrued BeneSt previously forfeited shall be restored in full and the Participant's Credited Service shag be based on all periods of employment. ARTICLE 30 OPTIONAL FORMS OF RENEFITS (A) In heu of the normal form of benefit as spedfied hernia, a Participant's Eazly ox Normal Retirement Benefit may be paid in an optional form as selected by the Participant. ADisability Benefit may only be paid in the Normal Form of'Benefit. Subject m the approval of the Board or irs designee, the Partidpant may elect to receive the Actuarial Equivalent of the benefit otherwise payable to the Par¢cipavt iv accordance with one of the following options: 1. Monthly income paymenti foc the life of the Participant. _. Monthly income payment for the life of the Pariopant and after his death, a survivor annuity payable for the life of the Participant's designated beneficiary equal to, 100%, G6 2!3%, or 50% of the amount payable to the Particpant. 3. Such other amount and form of retirement benefit payment that, iv the opinion of the Aoazd, will meet the circumstances of the Retiree and the Trust. B) The Particpant. upon electing any option pursuant to this Article, will designate the joint pensioner or beneficary (or beneficaries) to receive the benefit, if any, payable under the Plan m the event of PartidpantS death, and wtIl have the power m change such designation from time to time. Such designation will name a join[ pensoner or one or more primary beneficiaries where applicable. (C) In the event that no designated beneficiary survives the Participant, benefits shall be payable in accordance with Sectien 11, AeneScianes. 94 (D) Benefit payments shall be made under the option etected iv accoxdavce with the ' provisions of this Amide and shall be subject to the following limitations: 1. If a Participant dies prior to his Normal Retirement Date or Eazly Retirement Dace, the benefiaary will receive a benefit paid under the normal form o£benefit in aaordance with Article 1, Pre-Retirement Death. 2.. If both the retired Participant avd the bevefiriary (or benefiaaries) designated by Participant die before full payment has been effected under avy option providing for payments Tor a period certain and life thereafter, the value of the remaining payments shall be paid in such other amount and form of retirement benefit paymoat that, m the opinion of the Board, wBl meet the mrcumstances of the Retiree and the'hust in aaordance Amide 11. (E) U~ess otherwise allowed by law, a Parti¢pant may not change his benefit payment option after the date of cashing or depositinghis Srst benefit check. ARTICLE 11 BENEFICIARIES (A) F,ach Parriupant may, on a form provided fox Nat purpose, signed and filed with Ne Board, designate a beneficary (ox beneficiaries) to receive Ne benefit, if any, which may be payable in the event of his death and each desgaation may be revoked by such Participant by sigNng and filing xiN Ne Boazd a new designa¢on-oRbeneficiary form. The consent of a pattiripant's beneficiary to any change of benefidary shall not be requ¢ed. B) 1T a deceased Paratspant fails to name a beve5ciary Sn Ne manner pmsmbed in subsection A, or if Ne benefioay (or beneficiaries) named by a deceased Parti¢pant predeceases Ne Participant, Ne deaN benefit, d any, which may be payable uvdm the Plan with respect to such deceased Participant shall be paid as follows: (1) to the surviving spouse, or if none, (2) to theYazticipants surviving dtildrev, in equal dxazes, or (3) to thePazGapants'estate. ARTICLE 12 CLAIMS PROCEDURES Firefighter, Police Officer and Public Safety Officer Phnu that are established under Chapter IT.351 and Chapter 18G35, F1. SEat., axe required W have fhe Board of Trustees adopt administrative claims procedures once the Boazd is established. For any other plans the following claims procedures aze applicable. Any Partiopant or former Participant or BeneSuary of either, who has heev denied a beneSt by a decision of the Board shall be evtiSed to request the Boazd to give further consideratlon to his claim by filing with the Boazd (on a form whirr may be ohtained from the Boazd) a request for a hearing. This request together with a written statement of the reasons why the claimant believes hie claim should be allowed, shall fie Sled witb the Boazd no later than sixty (60) days after receipt of the write notification o£the denial. The Board shall rhea conduct a hearing within the vent sixty (60) days, at which hearing the claimant may be represented by an attorney or any other representative of his choosing and during which the daimavt shall Gave the opportunity to submit written and oral evidence and azguments io support ofhis claim. At the hearing (or prior thereto upon written notice to Ne Board within five (5) business days of the hearing) the daimant ox his representative shall have an opportunity ro review all documents in the possession of the Boazd which aze pertinent to the daim et issue and its disallowance. Either the claimant or the Boazd may request a court reporter to attend the hearing and record the proceedings. In this event, a complete written transcript of the proceedings shall be furnished to both parties by the court reporter. The full expense of any mart reporter and any transcripts shall be home by the part requesting the court reporter to attend the hearing. A Snal decsion, commvmcated in writing to the claimant as to the aLLowavw of the claim, shall be made by the Hoazd adthin sixty (60) days of receipt n£ the appeal udess there has been an extension of sixty (66) days. The communication shall be written m a manner calculated ro be understood by the claimant avd shall include specific xeazans fox the derision and spetiSc references W the pertinent Plan pmvisons on which the decision is based ARTICLE 13 REPORTS TO DM5ION OF RETIREMENT Each yeaz by no later than P-Iarch 15tL, the Boazd shall file a report with Ne State of Florida, Division of Retirement, and Employer containing the following (A) Compliance with th¢ providons of Chapter 195, Fl. Stat. and Chapter 185, Fem. B) A certified statement oC accounting for the mast recent Fiscal Year oe the Employer (or an independent audit by a certified public accauvtant if required by the Division of Retirement) showing a detailed listing of assets and methods used to value them and a statement of all income and disbursements during the yeaz. Such income and disbursements shall be xewnciled with the assets at the begi~ng and end of the yeaz. (C) A statistlcal ex7ribit showing the number of Participants in the employ d' the Employer, the number of Paricpants included in the Pension Plan, the number of ineligible Fazti¢pants, classified according to the reasons fox their being ineligible, and the number o£ disabled, retired and deceased Particpavts and their beneficiazies receiving benefit payments, and the amounts of annual retirement income or benefit payments beingreceived 6y them. (D) A statement of the amount the Employer has covtdbuted to the Fund for the preceding Plan Yeaz and the amount the Employer will wniribute to the Pension Fund for the current Plan Yeaz. (E) If any benefits are insured with a wmmercial imsurane compavy, the report shall include a statement of the relationship of the insured benefits to the ~ benefits provided by this Plan. TLis report shall also contain informatlon about the ins er, basis of premium rates, mortality table, intuest rates and methodology used m valuating retirement benefits. (F) An actumrial valuaton of the Plan must be made at least once every three (3) yeazs commeneing from the last actuarial report of the Plan. Such valuation shall be prepazed by an enrolled actuary who is a Member of the So¢ety of Actuaries or the American Academy o£Actuaries. ARTICLE 14 ROSTER OF RETIREES The Se¢etary o£ the Boazd shall keep a record of all persons receiving a benefit under the provisions of this Plan in which it sha11 be noted the time when the benefit became payable Additionally, the Secretary shall keep a record of all Parti.¢pant's employed by the F.mployex in such a manner as to show *he name, addxeas, date of employment crud date such employment is terminated. ARTICLE lb IIOARD ATTORNEY AND PROFESSIONALS The Board may employ independent Iega7 counsel at the Fund's expense for the purposes contained herein, together rvith surd other professonal, tecBaical, or other advisors as the Boaz~d deems necessaq•. ARTICLE 16 MAHIMUM PENSION 18.01 Ras'c limitations Notwithstanding anything to the contrary and subject to the adjustments hereinafter set forth, the maximum amount of aanual retirement income payable with respect to a Paiti¢pant under this Plan shall not exceed the lesser of: (A) The dollaz amount as may be allowable for any calendaz year pursuavt to §415(6) of the Code, as adjusted in such calendaz yeaz for increases in the cost of living in accordance xith Reputations sssued by the Secretary d Ne R1'easury under §415(d) of the Code), or (E) 100% of the Participant's average aggregate Compensation for the three (3) consecutive calendaz yeazs during w6;^h the Partiapant was an active Participant and had his highest aggregate compensation. For purposes of applying the above limitation, benefits payable in avy form other Nan a straight life annuity xith no ancillary benefits shall be adjusted, as pmvided by 1Teasury Regulations, so that such benefits aze the Actuarial Equivalent of a straight life annuity. For purposes of this Section, Ne following benefits shall not be taken into account (1) Any ancillary benefit which is not directly related to retirement mcome benefits; (2) Any other benefit not required under §415(6)(2) of Ne Code and 71~easury Regulations Hereunder w be taken into account for puryoses of Ne limitation of §415(6)(1) of the Intamal Revenue Code. 53 ]ssa P m' oct n s as soPl mbe hmitaann of this Article with respectito any Participant who at any time has heev a Partlr;pant in any other defined benefit plan (as defined in §414(j) of the Code) maintained by the Employer shall apply as if the total benefits payable under all deSved benefit plans in which the Partitipant has been a Partiupavt were payable firm one Plan. 16.03 Adinstments in Limitations (A) (1) Notwithstanding any other prottision of this ArtirleW the contrary, the projected benefit for a Partlripant (under this Plan and undo all other defined benefit plans maintained by the Employer, whether or not terminated) when expressed as a benefit payable aanually in the form of a straight life annuity without regazd to the death benefit or any othm ancillary benefit shall not at any rime within the Limixatlon Yeaz exceed the lesser of: (a) $90,o00(adjusced under such regulaRons as may be issued ~ by the Secretary of'heasury); or ro) 100%of the Parti¢pavt's average Compensation (2) Notwithstandingthe foregoing, the benefit payable with respect m a Participant shall be deemed not to exceed the limitations set forth in subparagraph (A) i£ the benefit payable with respect to such Parli¢pant under this Plan and under all other defined benefit pension plays m which the Employer contributes, does not exceed $10,000 for the applicable Plan Yeaz and for any Plan Yeaz and the Employer has not at any time maintained a defined contribution plan in which the Pam¢pavt parliripated (6) x~,e (;n,;caaona ;n anbparagraphs (Axo(n), (A~(1>ro) ana (AZ> above, shall be multiplied by a fraction (not in ex ass of one), the numerator of which is the number of the Participant's yeazs ofparti¢patioa in the Plan Gn the case of tha dollaz limitation eat forth in subpmagraph (A)(i)(a) or the number of the Participants Yeazs of Credited Service ( the case of the limitation set forth in (A)(1)(b) and (A2) and the denominator o£wbirh, in either case, ie 10. (4) As of January 1 of each calendaz yeaz, Lhe $90,000 limitation set Forth in subpazagraph (A)(1)(e) above, shall be adjusted as and if permitted by the Secretary o£ the 'heasury, and any such adjusted limitation shall become effective as the me>denum dollar limitation under Lhe Plan for that calendaz year. The maiinrum dollaz limitation fox a calevdaz year, as so adjusted shalt apply to Limitation Years ending with or within such calevdaz yeaz. (.5) (a) (i) In the event the Paxti~3pant's retirement benefits become payable beforo age 62, the $90,000 limitation set forth in subparagraph(A)(I)(a) above shall be reduced in accordance with regulations issued by the Secretary of the'lteasury, but not below $15,000. (ii) In the event the Particdpant's retirement be¢efits become payable before age 55. the $90,000 limitation set forth in subpmagraph (A)(p(a) above shall be reduced in aoxxdance with regulations issued by the Secretary of the 1Yeasury, but not below the actuarial equivalent of $95,000 at age 55. Gti) In no vent shaII the limitation set forth in subparagraph (yl(p(a) abovo be reduced to an amount law than $50,000 ( dexed in accordance wiN Ne Internal Revenue Code) in the case of police or Sre&ghters who are qualified particpanes as defined in Section 416(b)(2)Qi) o£the Internal Revenue Code. (b) If the Participant's retirement benefit becomes payable after age G5, for purposes o£ determining whether the benefit meets the $90,000 limieaeion set forth in subpazagraph (A)(1)(a) above. such benefit shall be adjusted so that it is actuarially equivalent to the benefit beginning at age 65. This adjustment shall be made wring an assumed interest rate of five (5%) and shall be made in accordance with xegulatiiows promulgated by tho Secretary of the Treasury. (6) (a) In the event that any PmhmPavt participates in both a defined benefit plan and a defined covtdbutlon play maintained by his Employer or an affiliate thereof, then the sum of the defined benefit plan fraction (as defined in Section 415(e) of the Internal Revenue Code) and '~ the defined contribution plan fraction (as defined in Section 415(e) of the Internal Revenue Code) fox any Limitation Year shall not exceed 1.0. (b) In the event that the sum of the defined benefit plan fraction and the defined contribution plan fraction exceeds 1.0, they the Boazd shall take such actions, applied in a umfom and nondiscriminatory manner, as well keep the benefi+a and Annual Additions for such Partitipants from exceeding these limits. Adjusonents shall be made to this Plan before any adjustments shall be required m any other plans. (B) This enbparagraph (B) shall apply to the amount of Sanest (as sack rem is described below) under this Plan for any Participant who is considered a Restricted Particpant (as such term is described below). Such beneSt shall be limited to an amount equal to the payments tbat would Gave been made on behalf of the Restricted Participant under a life annuity form of payment that is the Actuazial Equivalent of the Restricted Particpavt's Accrued Benefit under the Plan. (1) Fox purposes of this subparagraph B). the term 'BenefiC shall include retirement income provided by the Plan, plus loans in excess of the amounts set forth in Section'!2(p)(2)(A) of the Intemat Revenue Code, any periodic income, any withdrawal values payable to a living Participant and any death benefits not provided fox by insurance on the Participant's life. (2) For purposes of this subparagraph (B), the term "Restricted PaxtiupanC shall mean all Highly Compensated Employees. In any one Plan Yeaz, the mtal number of Paxtlapant whose benefit aze subject to restriction under this subpaagraph B) shall 6e ]united by the Plan to a group of not less than 25 Highly Compensation Employees with Ne greatest compensation. (3) Notndths[anding [he foregoing, the limitations set forth in tiffs subpazagraph B) shall not restrict the current payment of the full amount of retirement incume provided by the Plan if. (a) After payment to a Restricted Participant of all of the Benefit desedbed above, the value of the Plan asset aquala ox exresds 100% of the value of current }iabilities, as de5ned in Secfion 412(1)('1) of he Internat Revenue Code, ox (b) The value of the Benetit described above for a Restricted Partidpant is less than 1 / o£ the value of current liabilities, as de5ned in Section 912(1)(7) of the Internal Revenue Code. 16.09 A dB fit fEff ti Dt Not withstanding the above limitations, if any Partidpant as of the Effective Date has an acmied benefit that exceeds the above limitations, then such limitations shall equal such accrued bene5t. However, no cost of living adjustments as provided in Section 1G.05 below shall be applicable to the amount of retrement benefit so determined. 16.05 ~L_vine Adiustments The Federal limitations as set forth in subsections Ol, 02, 03, and 07 of this Section 16 shall be adjusted in accordance with any cost-of-living adjustments presmibed 6y the Secretary of the Treasury pursuant to §415(d) of the Code. 16.06 Limitntioas on l:f Inu andA~ui Por P rt t' R fit No ordinary life insurance contract shall be purchased which would alone ox combined with other such contracts insuring the life of a Partidpavy cause the pre-retirement death benefit in this Plan to exceed 100 times the monthly pension payable to the insured Yamcipant under the Plan. nxTicLE i7 DISTRIBUTION OF BENEFITS Nohvithstanding any other provision o£ this Plav to the contrary, a form of retirement mcome payable from tlils Plan, shall satisfy the following conditions: (A) If the retirement income is payable before the Partidpant's death, (I) It shall either be distributed or commence to the Partiapant not latex than April 1 0£ the calendaz yeaz following Lhe Liter of the calendaz yeaz in which the Participant attains age 70N, or the calendaz yeaz in which the Pacticipantretaes; and, (2) the beneflt ehall be paid over the life oY the Partiapavt ox over the lifetimes o£ the Partitipavt and designated benet 'azy shall be paid over the period extending not beyond the life expectancy of the Parliripant and designated benefiaary Where benefit payments have commenced in accordance with the preceding paragraphs and the Participant dies before his entire interest in the PLm has been distributed, the remaining portion of sucL interest in the Plan shall be distributed no less rapidly than under the form of distribution in effect at the time of the Paz¢apant's death. (B) 1f the Participant's death occurs before the distribution o£ his interest in the Plan has commenced, the Participant's entire interest in fhe Plav shall be distributed within five (~ yaam o£ the Parti¢pant's death, udess it ie to be distributed in accordance with the following rules: (1) The Partlripant's remaining interest in the Plan is payable to his designated beneficiary. (2) The remaining interest is to 6e distributed over the life of the designated beneficiary over a period not extending beyond the life expectancy of the designated beneficary; and (3) Such distribution begins within one yeaz of the Part pant's death unless the Partidpant's spouse shall receive the mmaiwng interest in which case the dishibutiov need not begin before the date on which the Participant would have attained age 10N and if the spouse dies before the dishibution begins, this Section shall 6e applied as if the spouse were the Plan Partlcipant. (C) Lumn Sum Pavmgn~ Notwithstanding anything contained in this Plan to the conhary, any benefit payable under the Plan, for which the actuarial lump sum present value is not more Chan $5,000, shall be paid in a lump sum as soon as practicablefollowing Che Partiupant's termination ofemployment. (D) Direct Rollwex (t) This Parse aph applies to distributions made on ox after January 1, 1993. Notwithstanding any provisions of the Plan to the con4ary that would otherwise limit a distributee's (as defined below) election under this pazagraph, a distributee may elect, at the time and iv the maavez prescribed by the Plan Admivistxator, to have any portion of an eligible rollover rlisnibution (as defined below) paid directly to an eligible retirement plan (ae defined below) speafied by the distnbntee in a direct rollover (as defined below). (S) For purposes of this pazagraph, the Following terms shall have [he tollon e earrings: (i) m An "eligible rollover distribution" is any m'sta'bution of ell ¢ any portion of the balance to the ¢edit of the distributee, except that an eligible rollover distribution does not include: any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made fox the life (or life expectancy) o£ the disaibutee or the joint lives (or joint life expectances) of the distributoe and the distributee's desgna[ed beae&ciary, or for a specified period of ten years or more; any distribution to the extent such distribution is required under Code Section 901(x)(9), end the portion o£ any distribution that is not included in gross income (determined without xegazd to the exclusion Coe net unrealized appreciation with respect to employer securities). (ii) An °eligibla retiremene plan° ie an indivrdual xettremest account described in Code Section 408(x), av individual retirement annuity described in Code Section 408(6). an annuity Plan described in Code Section 403(n), ox a qualified bust described in Code Seotloo 991(a), Chat aaepta the dismbutae's etgible rollover distribution. However, in the case of an eligible rollover distribution to the surviving spouse, an eligible retirement plan is an individual retirement aaount or individual retirement annuity. (iii) A "dietributae" includes an Employee er foffim "Employee. 1n addition, the Employees or former Employee's surviving spouse u a distribntee with regazd to the interest of the spouse. (iv) A "direct xollovec' ie a paymont by tha Plan to the eligible retirement plan specified by the distrbutee. ~ (E) Pmcedi re Unc7a'nmd Arrived Benefit The Plan does not require either the Trustee or the Boazd to search for, or ascertain the wbereabouts of, any Participant or Benefiuary. At the tlme the Participant's or Benefitdarl+s bevefit becomes distributable under the Plan, the Board, by certified or reg;stmed mail addressed m his last known address of record Sled with the Boazd or the Employer, must notify any Participant, or Benefi¢ary, that he is entitled [o a dismbution under this Plan. ff the Parti¢pant, or Beneficiazy, fails to claim his disa~ibutive shaze, or make his whereabouts known in wrevg to the Boazd within six (f) months from the date of mailing of the notice, the Boazd will treat the Participant's or Benefiriary+s unclaimed payable Accrued Benefit as forfeited. The Employer will use the amounts representing the forfeited Accrued Benefit to reduce its contribution for future Plan Yeah. 1 Jf a Participant or BeneStiary who has incurred a forfeiture of his Accrued Benefit under this Section makes a claim, at anv time, for his forfeited Acmved Benefit, the Administrator must restore the Pam©pant's or Benefioari+s forfeited Accrued BeneSk The Adminisrator must dneet the Trustee to distubute the Participants or Beneficiary+s restored Acmued BeveSt as soon as admuristratively prazticable tollowdng restoration of the forfeited Accrued Benefit. ARTICLE 18 MISCELLANEOUS PROVLSIONS 18.01 Interest of Partic'vants iv Pension At no time prior to the satisfactlon of all liabilities vndar the Play with reaped to Parfcpants and benefidazies, shall any part of the corpus or income of the Fund be used for or diverted to any purpose other then for Chess exclusive benefit. No plan amendment or ordinance shall be adopted by the Employer wMrh shall have the effect of reducing the then vested accrued benefits of Participants ox Partiopants' benefi¢eries under the Plan. IBD2 Svmmarv Plan Descrivtlons The Summary Plan Description outlining the provisions o£ this Plan was designed Duly to give a brief description of the benefit provided aad does not include all the pmvirions or exclusions in the Plan Document II the Summary Plan Description disagrees with the Plan herein in any way, the Plan Document will govern. 18.03 GendergNumber Wherever any words aze used vi the masculvre, feminine m neuter gender, Urey shall be construed as though they were also used in another gender in all cases where Urey would apply. Whenever any words aze used herein iv Ure singulaz or plural form, they shall be conshued as though they were also used m the other form in all cases where they woWd apply. ARTICLE 19 I2EPE9L OR TERMINATION OF PLANS (A) This Plan and Fund may be modified, terminated, ox amended, in whole or iv part at any time by the Employer, provided that if this Plan or any subsequent ordinance or resolution shall be amended or repealed in its application to any Person benefiting hereunder, the amount of benefits wMrh at the time of any such alteration, amendment. or repeal shall have accrued to the Partiapavt ox beneficiary shall not be afiieted thereby, except to the extent that the asset of the Fund may be determined m be inadequate. (B) If this Plan shall be repealed, ox if contribution [o the PLm are discontinued the Boazd shall continue to administer the Plan in accordance with the provisions of this Plan, fox the sole benefit of the then Partiopanfs, any beneficimi~ then receiving retirement allowances, and any future persons entitled to receive future benefits. In the event of repeal, or if contributors to the Plan are discontinued, there shall be full vesting (100%) of benefits accrued to date o£ repeal and the asset of the Plaa shall be allocated in an equitable manner to pro~tide benefits ov a proportionate basis to the persons so entitled in accordance with the provisions [hereof. (C) The following shall be the order ofpriorityfor purposes of allocating the assets of the Plan as of the date of repeal of this Plan, ox it contributions to the Plan are discontinued utith the date of such discontinuation being determinedby the Employer. (1) Apportionment shall first be made in respect of each retired Participant recur retssement ox disability benefit hereunder ov such date, earl person recmving a benefit on such date on account of a retired or disabled (but since Gf demased) Paztiripan[, and each Paricpant who has, by sorb date, become eligible for normal retirement but has not yet retired, an amount which is the actuarial equivalent of such benefit, based upon the actuarial assumptions in use fox purposes of the most recent actuarial valuation, provided that, if sorb asset value be less than the aggregate of such amounts, surL amounts shall be proportionately reduced so that the aggregate of such reduced amouna will be equal m suc]x asset value. (2) If there be any asset value remamivg alter the apportionment under pazagraph 1, apporf onment shall neat be made m respect of each Partiapant in the service o£ the Employer on each date who has wmpleted at least ten (10) Years of Credited Service and who is not entitled W an apportionment under - Paragraph 1, in the amount required to provide the Actuarial Equivalent, as described in pazagraph 1 above, of the accrued noxmW retire ant benefit, based on the Credited Service and Salary as of sur3 date, and each vested former Pamcipant then entitled to a defected benefit who has not, by such date, begun recei Ong benefit payments, in the amount required to provide said Actuarial Equivalent of the accrued Noanal Retirement SeneStt provided that, if svrh rem a sset value is less thou the aggregate o£ the amouvfs appprtipved hereunder, such latter amounts shall be proportionately reduced so that the aggregate of snch reduced amounts will be equal to such remaining asset value. (3) V there be any asset valve after Ne apportionments undo paragraph 1 and 2 above, appomonment shall be made m respect of each Participant in the sernce of the Employer on such date who is no[ evtltled to an apportionment under paragraphs 1 andL above in the amount equal to Paxlidpant's AccumWated Contributions, provided Nat, if such remaining asset value be less Nan the aggregate of the amounts apportioned hereunder, such latter amount shall be proportionately reduced so +hat the aggregate of such reduced amounts will be equal to such remairting asset value. (4) If there be any asset value ramaiviug after the appor[ionmenm under paragraphs 1, 2, and 3 above, apportionment shall Lrsily be made in respect of eaci~ partitipant included in pazagraph 3 above to the extent of the Actuarial Equivaten4 ae described in pazagraph 1 above, of tho accrued Normal Retlxement Benefit, less the amount apportioned in paragraph 3 above, based on the Credited Service and Average Monthly Salary as of such date, provided Yhat, S such remamirrg asset value be less than the aggregate of the amounts apportioned hereunder, such amounss shaLL be reduced so that the aggregate of such reduced amounts will be equal to such remaining asset value. (6) In the event that theca be asset valna remamiag after the full apportionment speciSed in pazag[aphs 1, 2, 3, and 4 above, such excess shall be returned to the Employer, less return of the Sgte's contributlovs m the State, provided that, if the excess is less than the total contributions made by the Employer and the State to the date o£ termination such excess shall be divided proportionately to the total contriburions made by the Employer and the Stale. The allocation of the Fund provided £or io this subsection may, as derided by the Booed and the Employer be carried out through the puxehase of insurance company contracts to provide the benefits determined in artoxdavice with this subsection. The Fund may be dismbuted in one sum to the persons entitled m said benefits ox the distribution may be carried out iv such other equitable manner as the Boazd and the Employer may direct. The Trust may be continued m existence for purposes of subsequent dishibutiovs. (1;) A£eer ell the vested end accrued benefits provided hereunder have been paid and after all o[Ler liabilities Lave been satisfied [hen and ody [hen, shall any remainng fonds be reverted m o£ibe Elnployex. ARTICLE 20 EXEMPTION FROM El'ECUTION, NON-ASSIGNABILITY The pensions. annwties, or any other benefits accrued ox arriving to any pexsov under the provisions of this Plan, the Accumulated ConhtibuROns and the assets m the Fund exeated under this Plan are exempt Crom auy state, couvty ox municipal rsx of the state and shall not be subject w execution, attachment, gmmshmant or any legal process whatsoever and shall be uvassignable. AkTICLE 21 FORFEITURE OF PENSION Any Partiripan[ who is convicted of the any of the following offenses committed prior to retirement, or whose emptoym,ent;s terminated by reason of his advdtted commisden, aid or abetment of the following specified offenses, shall forfeit all vghts and benefits under this Fund, except for the return o£his accumulated conhibutions as of the date of temdnaeon. (A) Specified offenses aze ast llows: (1) The committing, aiding or abetting of an embezzlement o£ public fiords; (2) the commitMg, aiding or abetting o£ any theft by a public nicer or employee from employer; (3) bribery in eonnecdoa with the employment of a publlo officer or employee; (9) any felony epedfied m Chapter 838, Floride Statutes; (5) the committing o£mimpeachable o6ense. B) The committing of any felony 6y e public officer or employee who willfully and with intent to defi~aud the public or the public agenty, for which be acts or m which he is employed. oC the right to receive the faithful performance of his duty a public officer or employee, realizes or ebtaims or attempts to obtain a pmfit, gain, or advantage for himself or for some other pexsen through the use or attempted use t the Dower, rights, privileges, dntles or poaitlon of his public office or employment position. (l) Conviction shall be defined as follows: Aa adjudieacon of guilt by a court of competent jurisdiction; a plea of guilty er a nolo contendere; a ;nn• vara;rt of gaatr when aa;ndiaatipn pr gnat ;s n,chheta ana me accused is placed on probation; or a conviction by the Senate of an impeachable offense (2) Court shall be aehned as follows: Avy state ox federal court of competent jurisdiction which is exercising its jursdictlov to conceder a proceeding involving the alleged commission of a speafied offense. Prior to forfeiture, the Boazd shall hold a hearing on which votlm shall be given to the Partl¢pant whose benefits aze being wnsidered fox forfeiture. Said PartiaPant shall be afforded the right to have an attorney present. No formal ndes of evidence shall aFPly, but the Paxti¢pavt shall be afforded a full opportunity to peasant Lis case agaivst forfeitvsse. My Paztiripant who has received benefits firm the Plan in excess of his accumulated contributions after Partiopant's rights were forfeited pursuavt ro this section shall be required to pay back to the Fuvd the amouvt of the benefits received in excess o£ bis accumulated contibutions. The Board may implement all Legal action necessary w recover such funds. i i 1 '2 'Pkus ne emvvtu tPPecUVe ou tlrn date speafied in the Adoption Agce meat. I, E17iIBITA Exhibit A is included under Tab 5 RXi11BIT s Actuarial Equivalent shall mean a benefie of equivalent current value W the benefit that would otherwise have been provided to the Paxti¢pant. At tLe time of calculation of tho actuarially equivalent benefit, the calculation shall not include possible fntvre benefit increases which have not been adopted 6y an Ordinance or Resolution and which aze not in elect as of the calculation date. The calculations will be performed u mg the 1983 Group Mortality Table set back two years and the rate ofinterest which isssperified in the preceding actuaaal valuatlon. Fox the period begiming January 1, 1996 this rate of intsxest shell be'1-o%.