Resolution 95-828RESOLUTION NO. 95 829
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
LONGWOOD, FLORIDA, APPROVING AND AUTHORIZING THE
EXECUTION OF AGREEMENTS BETWEEN THE CITY OF
LONG WOOD AND THE FLORIDA MUNICIPAL PENSION TRUST
FUND PROVIDING FOR A RETIREMENT PLAN AND TRUST FOR
FIREFIGHTERS AND POLICE AND A RETIREMENT PLAN AND
TRUST FUND FOR GENERAL EMPLOYEES HIRED ON OR AFTER
JANUARY 1, 1996; PROVIDING FOR CONFLICTS, SEVERABILIT'
AND EFFECTIVE DATE
WHEREAS, the Ciry ofLongwood has revoked its p-wipatien in the Florida
Retirement System for employees hired or appointed on or after January 1, 1996; and
WHEREAS, the City of Longwood wishes to enter into x agreem
provide an alternate retirement sy-e, for all employees hired or appointed on or after
January 1, 1996; and
WHEREAS, the retirement plan provided by the Florida Municipal Pension
Trust Fund m s needs the n standards for the operation and funding of
public employee teystemsand plans as requh,ed by State I-;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF
LONGWOOD, FLORIDA, AS FOLLOWS:
SECTION I: Thatthe Florida Municipal PensionTrust Fund Defined
Benefit Plan and Trust for Firefighters and Police for the City of Longwood, Florida,
ntbrbed as Urbibit A" thereto, is hereby approved.
SECTION 2 Tbat the Florida Municipal Pension Trust Fund Defined
Contribution Plau and Trust for General Employees for the City of Longwood, Florida,
attached as "Exhibit B" thereto, is hereby approved
SECTION 3: That the Mayor of the City of Longwood is hereby
au Wormed to execute said ogre melts for and on behalf of the City of Longwood.
SECTION A: Conflicts. All resolutions or parts of resolutions in
con Bins with any of the provisions of this resolution are hereby repealed.
SECTIONS: Scvrabiliry. If any se ar por iota noE this
Sohn n pro o be valid, unlawful, o nal, i shall not be held to
validate 0,
ntpair file 'validity, force, or effect of s any'other section or part of Wis
resolution.
1,Sol tiIION NO. 95-828
SECS Iits ON 6: Effective D— rllil 11-1111mll shall b"ll"I af—wl
im�nedialely opoe� Massage, vnd adol�ti u.
PASSED AND ADOI YED this r�Lll,lay .1 a 1995.
c/
-WH IIAM t. WINS -ION, MAYOR
APLF9fi-
Ge l li i ll- Lan,b, C ly Cle+l<
"EXHIBIT V
FLORIDA MUNICIPAL PENSION TRUST FUND
DEFINED BENEFIT PLAN AND TRUST
ADOPTION AGREEMENT
The undersigned employer adopts the Florida Municipal Pension Trust Farad Defined
Benefit Plan and Trost for those Employees who shag qualify m Participants
hereunder, to be known Be the Retirement Plan and Trost for the Firefighters and
Pohce Officers of the City of Longwood
It shall be effective Be of the date specified below. The Employer hereby selects the
following Plan specifications:
EMPLOYER INFORMATION
Employer: Cl. 1 d
Contact Nameand Title Sheltnn Smfth____
Address: 175 West WW%XAvenue
Lonewood EL 327110
Telephone: (9071260-3440
NAME AND ADDRESS OF TRUSTFE,
Florida Municipal Pension Trost Fund
201 West Park Avenue, P.O. Box 1757
Tallahassee, FL 3230 -1757
TEL. (904) 222 9684 Fax: (904)222 3806
riMePdlAL OF
and This Trust shallbe enforced and construed
ender the laws of the State of Florid..
EMPLOYER FISCAL YEAR.
Twelve months commencing on October let end
ending on September 30th.
revised 11/17/95
Retvament Plen vnd Trust 6, the Fl f6ghtere and Ponce OP reo[tAe
car ¢cee eg—
ADOPTION AGREEMENT
A. PLAN INFORMATION
This Adoption Agreement shah establish a new Plan and Trust with the
fallowing provisions:
Al) EtteVti Date:
Effective Date: Janvary 1 199G
A2) Plan Year (12 consecutive month period):
Beginning October i and Ending September 30
A3) Plan Annivers ry Date (Annual Valuation Date):
October 1
A4) Name of Plan Administrator
Flonda League of cities, I—
,_
Office Box 1757
Tallahassee, Florida 32302-1757
Tet: (904) 222-9684 Fax: (904) 222 3806
A5) Florida Munici I P T st Fund I D Ntunber
59-2961075
A6) Pl A t f L 1 P
Florida League of Cities, Inc.
201 East Pk Avenue P O. Box 1757
Tallahassee, FL 32302-1757
Tel: (904) 222-9684 Fax: (904) 222-3806
Retire-Plan—T-1fo, the Puofghl— end Pnliao OT.. of In,
City ofLnngwood
ADOPTION AGREEMENT
B. PLAN
The Plan rep-- the following.
a. Y _ Firefighters (a defined in Ch. 19503A M. St n.)
L X Full-time
2. Volunteer
b. _Police Officers ( defined in Ch. 185.02, A Sun)
c. General Employees
C. ELIGIBILI
Employeeshall become p-ddp— in the plan effective:
n. _X_immediately when hired. ( defined in Ch. 175 & Ch, 185 Fl.
S(nG)
b. one-yeaz after the date ofh-( t applinble w FRS OptOut)
c other:
,--d 11111M
Retirement Plan and Tres[ for the F-Fe gh[ers and Police Ofli— of she
ADOPTION AGREEMENT
D. SALARY
a. X ans the Sxedmonthlycompensatiompaida 6reSghtexand
where, as in the case of. volunteer &.fighter, compensation is
derived from actual services rendered, salary shall be the total cash
o et ensation received yearly fox such services, prorated on a
monthly basis. ( dewed ut Ch. 175.032, R. Stae)
b. _� mans the.1.1 cash remumerafion paid to a police of6eex fox
serncee rendered me defined en Ch. 185.02, Fl. Slat.)
c. shall imctude xegolax arnings, incentive ox merit pay. �aration pay,
sick pay, bonuses, plus all tax deferred end tax exempt items of
excluding all lump sum payments. (Local Lam -not
applicable w FRS opt ouc))
E. CREDITED SERVICE
Total number of years and fractional pare of years of service in measured from
date of employment.
F. FINAL MONTHLY COMPENSATION
One -twelfth of the highest average earnings during the fie best yeexs out of the
last ten years of creditable service prior m separation es as active member or the
cazeer average whichever is greater.
eevieed 1i111W
Reuremeut Plan and Trues Far the Fi,.6ghtere and Po3co 00'iaore of the
City a( Long.v
ADOPTION AG—
M-G. BENEFIT AMOUNTS ANDELIGIBILTTY(Section 6)
Gl) Normal Retire ent Date (Section 6.01):
A members normal retirement date shall be the first day of the month
coincident with, or next following attaimtent oEage:
n X 55 and 10 yeze of service or & attainment of age 52
and 25 years of service. (Ch. Z75 175 & Ch. ]85, F7 Stat.)
b. 65 end 10 years of setvice ox eazlies attainment of 25 years
of service. (FRS Special Risk)
c. 62 and 30 yeazs of service or eazlim attainment of 30 years
afservice. (FRSRegular Class)
d. Other
G2) Normal Retirement Benefit (Section 6.0 );
The monthly retirement benefit shall be equal m the:
a. umber ofyeazs of credited serviee multiplied by 1.60%
(62 ox 30 yems); L63%(age 63 or 31 ye—); L65%(age 64
or 32 years); 1.68%age 65 ox 33 ox more years) and
multiplied by final monthly compens 6—
(GeneralEmployees Only - FRS Regular Cloys)
b. X umbexofye—do editedservicemWdpliedby2%
and multiplied by final monthly compensation. (Ch. 175 &
Ch. 185 R Sfat. )
c. umbra ofyemsof¢dited service multiplied by 3%and
multiplied by final monthly compensation. (FRS Special
Risk)
d. Other
Hottremenn Plan end T—t to, thm PhN'S,nters and Poliaa Omroxs of the
city oPLona—
ADOPTION AGREEMENT
G3) Early Retire ent Date (Section 6.08):
A member may retire on hia eazly retirement date which shall be the
first day of any month coincident with ox vent following the latex of the
attainment of age:
a.x_ 50 and the completion of 10 years ofcredited service. (Ch,
175 & Ch.185, 11. Stat.)
b— no age retinimme—, 10 years ofcredited atmca. (FRS)
c. Other:
(34) Early Retirement Benefit (Section 6.04):
The amount of the accrued benefit will be reduced a maaimnm — of_
Cleach year before the oxmat retirement date: (FRS Special Risk
CWss must choose option a ., or b.)
a.x_ 2%
b. 3 % ( defined in Ch. 175 & Ch. 185, R Sw ,)
o. 5% (Genaml Employees Only)
EM®
Retssemon[ Plav and Treat for the Fretgh[ers and Polioe 0[Cicers of tFa
City a[Lod
ADOPTION AGREEGREEMENT
H. DISABILITY BENEFITS (Section 8)
HII Disability Benefits On -Duty (Section B.pl):
A..
deemed w be totally and permanently disabled from service
wnnected injury or disease will receive the greaten oF.
a. Montlilypension equal to 42%ofaverage wmpensatie,
t equal to the accrued retirement benefit.
(generatemployees)
b. X Monthly pension equal fu 42% of average monthly salary
at the time of disability or as amount equal to the aaamed
retirement b—fit. (firefighters)
c. X Monthly pension equal to 42% of average monHdy
ompensation as of his disability retirement date or an
unt equal to the acmved retirement benefit.
(potire officers)
d. Other
rovised 11l17M
Retvemen[Plan ono Trust for Lne Firefgh[e and Popce OfTcers d the
City oflnng..md[9
ADOPTION AGREE\1ENT
H2) Disability Benefits Off -Doty (Sectlon 8.02):
After 10 or more ye—ofeernice.
a. five (5)
b. X ten(t0)
c other
A member deemed W be —Ily and permanently disabled from non -service
connected injury or disease will receive the greater of:
a _ Monthly pension equal W 25% of average compensation
unt equal W the aaxued mtimment benefit.
(general employees)
b. X Monthly pension equal W 25% of average monthly salary
at the Nne of disability ox ao amount equal W the accrued
retirement benefit. (firefighters)
c. X Monthly pension eq-1 W 25% of average monthly
compensation as ofhis disability retirement date or an
unt equal W the accrued retirement benefit.
(police tffirers)
d.— Other
�, MUM
rtecheweno P ao eed Tn,eo roc the Fi-,ghte.a eed roeeo of5eaee of the
crcy efcoa —t
ADOPTION AGREEMENT
I. DEATEI BENEFITS
Il) Aeath Prior to Veetly¢ - Iv-Line-0f-Duty
If, membecdies prioc to redrementiv-the-liveof-Duty, and he is noe
vested his beneficiary shall receive the following benefits;
e. —2— a refund of one hundred percent (100%) d the e.be.
emulated contributions. ( defined iet Ch. 175 & Ch. 185.
F7. Stet.)
b._ monthlybenefit d50%of the membets monthly salary at
death, payable for his or her lifetime. ( defined in FRS)
e. Other
I2) Death After Vestin¢ - Io-Line-0P-Duty
If a member dies prior to cetieement in-theline-of-Duty, but he is vested
his benefiei— shell receive the following benefits;
a. X benefits otherwise payable to the member at the eaely ee
anal ee.ement date. (as defined in Ch. 175 & 185, M.
Sent.)
b._ movthiy benefit of50%ofthe membets monthly salary eet
death, payable foe his or het lifetime ( defined in FRS)
y wt we or emeed the Chaptee-pm iewm)
Other
(Sections 112..19 - Law enforremerLL ofl-- death benefits, and 11-1 . F'iafiShters; death
benefits, Pmoi ---wed additional in Uneo/duty death benefits)
Norsifffm
Re[vem¢nc Plan andTrvar for the Eirofighte end Peace Oalcere of the
cayotcoegweoa
ADOPTION AGREEMENT
I2) paeh Prior to Vestine - Off -Duty
The beneficiary of a deceased Member who was not vested m eligible for
retirement shall receive a refund of one hundred percent (100%) of the
embers accumulated eontdbutiona. (cis n'efived iv Ch. 175 & Ch. 185. Fl.
Star & FRS),
I3) D th Aft V t
If a member dies prior w retirement other than-in-the-lineof-Duty, but
he is vested, his beneficiary shall receive the otherwise payable m the
member at the _I, or normal re im—t date. (Ch, 175 & Ch. 185, FZ.
S.")
(The FRS bereft is net wgreat as the Ch. 175 & Ch. 185, M. Slat. sa is
wt v vlabk option /ar the FRS Opt Our)
TERMINATION OF EMPLOYMENTAND VESTING
If a member's employment is terminated either voluntarily or involuntary,
thefollowiagbeneStsaxepayabIr: (Enterthenumb—fy,orsojoestivg)
1) If the memberhas less than �_ years of¢ediwd service upon
termination the member shall be entitled to a refund of the money be
has contributed or the member may leave it depo wdwith the Fund.
2) If the member has 10 ore years of coedited service npon
termination the member shall be entitled w their cooed monthly
retirement beneSt, starting et the membete otherwise normal ox
early retirement dace, provided he does not elect to withdraw his
contributions and provided he survives W his normal or early
retirement dace.
Recucment r�ae yea Tmsc ror m°erersnce eea Pauce otrcore onne
cloy odm
ADOPTIONN AGREAGREENF.NT
K. EMPLOYER CONTRIBUTIONS (Section 6.O1):
Members of the Retirement System shall be required to make regular
contributions to the Fund in the amount of �_°o ofbis salary.
a. _ no employee cont buttons. (FRSHegular Class)
b. X 1% (Ch. IY5& Ch. 185F7. Smt. minimum)
c. Otbm:
revised H/17195
Retvemeat Plan and Trust fo<<he Fv4gbters aad Police OT.— of the
City of Lo ,.d
ADOPTION AGREEMENT
This Adopdon Agreement may be used mdy he conjunction with the Basic Plan
D—ent.
This Adeptiov Agreement and the Basic Plan Document shall together be knoam as the
Florida Municipal Pension Trust Fund DeBned Benefit Plan and TYaet.
IV, have consulted our attorney with reference to thle Plan and T—t
Agreement.
We understand that the Employer may amend any election m this Adoption Agreement
by giving the Trustee written notification of such Amendment as adopted.
The Employer hereby agrees m the pmvisione of the Plea and Trust
IN WITNESS WHEREOF, the Employer an Trustee hereby cause this Agreemevt to
be executed on the. �/( day of 19�E
EMPLOYER:
QIIYQFWNGWOOD
(Name o/Empioyer)
Br � /-4 4 Hate: 4 41my -
mia�
M tT.uste�
Date:
meolTlns�)
RETIREMENT PLAN AND TRUST FOR THE FIREFIGHTERS AND POLICE
OFFICERS OF THE
CITYOFLONGWOOD
SUMMARY PLAN DESCRIPTION
PI Tty;,tee
Flarida Municipal Pension Trust Fund
Pia. Sponsor and Adm' ator
Florida League oECitie�, Inc.
T \VeatPark Avenue, 757 Eos 1]5]
TaOahassoe, FL 323021]5]
Plan re ring the Chapter 175 Municipal—tghters and Chapter 1&5 Municipal Police
ox— P—i— Trust Fund
ER —lit,
All tnlltime GreGghtem end police o�cers when hued, shell became a partacpant after the
effective date.
Salarv.
Firefigl-Compensation means the [ ed monthly compensation paid a fue6ghter end where, in
the cane of n volunteer finefghter, compensation y derived from actual se d. rendered, .-
shall be the toml cash compensation received yearly far such eervicea, prorated on a fo , bneie.
Pollee O((me. - Compensation means Me total cash remuneration paid m e police o&ear for servicee
rendered.
Cred"ted 8ery
Total number of years and fractional parts dye—,[ service in meneured Gam date of employment
pipet Monthly Comuensatian:
Ou¢twelfth of th¢ highas[ average earnings daring the five beau yeare out o[ the Isar ten years of
credirable service prior to separation as an active memLer or Me career average, whichever is
greeter
AscT.eed.h efit
Moans a Gaotion of the normal rett f..l .benefit m which a panlvlpant would be entitled au Mein
Normal Rdp—int Date based on f al monthly mmpensation. The numerator of the Gaction is
the yeare of participation at Lh¢ lime e[ severance end the demminewr ix the years o[ Dartcipaton
m Me Plan Lhatwould Neva earned et Met Normal ReMamenu Dam.
N IR
TTe first day tho movLh comcidevt with, or next following eVsmment o[ age 55 and to years of
service or earl1 ier attainment of age 52 and 25 years of service
Normal Retire noR4
The Monthly retiree yf..l lehallbe equal to the number vE yavre of <re&tad service multiplied
Ly 2°h and multiplied by f al monthly compensation.
The vnrmal form of benefit is a ten M) ye
A member shaG retire on his early—,-- date which shall be the fiat day f oany month
_,id -with or next following th¢ rompl¢ti. of 10 years of ¢edited sacvi¢e.
"
e1s ca[ vc rued bene[b will b¢ rmducad of 3°.6 6r eacF y er helots the Normal
Retirement Aga.
IC a member to tes before completing 10 years of credited toe se ell ronmbutions a carved. After the mmpledon o[10 w.years o[aredited service, any member who elecm to leave their
contributions N [he fend writ xecaiva then vicerued benefit et the'v normal reLmementdata.
Pbsabnuv-toe-n
F'•e(ighler ember deemed m be really and cermenently disabled from service ronnected
injury or dues e x ill receive the greater of mon[Fly Dension equal m 42% of average monthly salary
at the PoOff' of msabihty or ea amount equal m the aretirement benefit.
llee O()ker A member deemem d be totally andd p. permanently disabled m 4% service connected
mjury or disease will receive the greater of monthly pension equal to oC average ontniy
ompensation as of Fu disab'dity retirement date or an amount equal m Ih ehv acrued rotnement
benefit
Fire(ighkr - A member deemed to be —By and permanently disabled from serviee connected
injury or disease will —ive the greeter of monthly pension equal m 25% of average monthly salary
at the time o[disnbility or an amount equal to the accrued retirement benefit.
Poore Off— A member deemed w be totally end pe tly disabled fmm no
omcoed injury or disease will receive the greater of .—bly pension equal to 25°%° of e e egc
hiy compensetlon as of hu duabibty re6mmeno date or an amanat equal to the amrued
rat --t benefit
D h H f I n Vesti
IL a member dies and he D nol vested, his beneficiary shell receive a refund of
pr1 (1 to xeti1 .
one hvodrod peroeo[ (IW°/<) of tho members eaumula[ed mntributiona.
D.IJIB .e
If s mamba dlee priorsI and he is —e d, hie beneficiary shall rac¢iv¢ benofits
¢the—payebk m the emb¢r amtho ¢arly or normal r¢tvemeot dace.
ALL participants mnrribute t%oChis sal
THIS IS INTENDED AS AN O UTWNE OF PLAN PROVISIONS AND DOES NOT ALTEF THE INTENT OR
MEANING OFTHE PROVISIONS CONTAINED INTTiE PLAN DOCUMENT
/� 1 ,�� , � .�2..
Ial
.Vfrye ve< tl. Ii.. ol
. .... .. I i—t
_y M—IhlIf i—)y Ie-- 1 1. 111 ion�pa it
Ily .
4- l.ill.
"E%HI017 V
FLORIDA MUNICIPAL PENSION TRUST FUND
DEFINED CONTRIBUTION PLAN AND TRUST
ADOPTION AGREEMENT
The undersigned employer adopts the Florida Muvimpal Pensive Trost Fund Defined
Contribution Play and Trust for those Employees who sbaR qualify m Pam¢pnts
hereunder, to be known as the Retirement Plan and Trust for lbe General Employees of
the City of Longwood:
It shall be effective as of the date speafied below. The Employer hereby selects the
following Plav specifications:
EMPLOYER INFORMATION
Employer.
C'tv fU d
Contact Name and Title:
Shelton Smith
Address:
175 Weet Warren Avevve
Longwood EL 32750
Telepbone:
(407)260-3440
NA MF AND ADDRESS OF TRUSTEE•
Florida Munidpal Pension Trust Fund
2W West Park Avenue, P.O. Box 1757
Tallahassee, FL 32302-1757
TEL: (904) 222 9684 1ax: (904)222-3806
LOCATION OF EMPLOYER'S PRINCIPAL OFFICE,
The Employer is located in the Stale of Florida
and This Trust shag be enforced and construed
under the laws of the State of F'lodda.
EMPLOYER FISCAL YEAR:
Twelve months Comm emgon October Iet and
ending on September 30tb.
The Rotsse —Plan and TcusI Ior the G—ul Employ
01 the odLongwood
AOOPT[ONAGREEMENT
A. PLAN INFORMATION
Tlus Adoption Agreement shall establish a new Plan and Trust with tk:e
following provisions:
Al) Etfoctive Date•
Elective Date: January 1 1996
A2) Plan Yenr (12 conseontive month period):
Beginning October 1 and Ending September 30
A3) Plan Anniversary Dal (Avaual Valuation Date):
September 30
All Name of Plan Administrator.
Florida League of Cities, Inc.
Post Office Box 1757
Tallahssaee,Florida 32302A757
Tel:(904)222-9684 Fax: (904)222-3806
A5) Mt rid. Munivinal Pensipp d}-ySy,PYnd's I D. Numher
59-2961075
All Plan's A¢ent for Laeal Process
Florida I.eagve of Cities, Inc.
201 East Park Avenue P O. Box 1757
Tallahassee, FL 32302-1757
TO(904)222-9684 Fax: (904)222 3806
Tna Ret��emem Penn a�a T�,t Ior me Geae.az En,pmreee
Dane aal MNI a
ADOPTIONN AGREEbfENT
B. ELIGIBILITY (Ar ikk M
BI) EI' 'bl E 1 hail
All Employees who have satisfied the eligibility xegviremepfs.
B2) Aours of Serve will be determined on the basis
Of actual hours fox whirl m employee ss paid ox entitled to payment.
B3) Conditionsof Elia—ity Wfick LZS,c6-3.0I)
Any ee Eligible Employwill be eligible to partidpate ip the plan if sorb
Fbgible Employ'
, has a,tisfi,d the service and age xogaixementa, if any,
spedfied W.-
.. _ NO AGE OR SERVICE REQUIREMENTS
b.—X— SERVICE REQUIREMENT
1— None
2. _� 3 months
3. _ 6 montbs
4. 1 Year of S.md
c. X MINLMUM AGE REQUIREMENT
1. _ NIA - No Age Requirement
2. X 18
3._ 21
The eetuement Pion and Trvst[m Lha General Employees
nr the crcy or>angwooa
ADOPTION AGREEh1ENT
B4) Effective Dateof Partfefnation(Article III, Heetwa 3,02)
Ae eligible Employee shall become a Par¢¢pant as of
the first day of the Plan yew— following the date on which he
met the requirements.
b. X the fast date of the month coinciding with or neat following the
date on which he met the requirements.
c _ April 1 or October I coh ading with or nest following the date on
which he met the requirements.
C) EMPLOYER CONTRIBUTIONS AND ALLOCATION'. (ArticleM
Cl) Compensation shall mean:
a.--X-_ the amount paid by the employer for a plan year. Any a mount
paid by the employer as a fringe benefit, overtime, bonus, or
under a e,elb— benefit plan shall not be considered
compensation.
b._ Other.
The Rttvement Plan end Trust for the General Employ
of the City of Longwood
ADOPTIONAGREEMENT
CE) Formvle for Determin've Emolover's Contribugou&Nlocation
(Artzle N, Section 4.02)
e. _ Di— ions , m be determined by the Employer
(The employer contribution for the Plan Year shall be allocated
to all Participant's eligible to share he the allocations in the
me proportion that each parttcipant's Compensation bears to
the total Compensation of all Participants for such year.)
b. Y. H %of each Participant's Compensation
c. Other. _..
C3) Forfeitures Wticle N,Seciunn4.04(d))
Forfeitures shall be added used to reduce the Employer's
Contribution.
b. _ Forfeitures shall be allocated to all Participants eligible to share
in the allocations m the same pr,p tio. that earh Partinpeut§
Compensation for the year bears to the Compensation of all
Participants for such year.
e. _ Other.
Tne Retvemeao e�ae eea r�,ac rer me ceoerat En,pmr�a
et one caw et �eaaeoa
ADOPTtONAGREEMENT
CO F 1 C t 'b t (Article N, Section 4.05; Article 7V, Section
4,09) Employee Contributions m this Plan are...
a. N/A. Not allowed
b.X VOLUNTARY- Nottoexceed---- _% of Compeosabon(10%
maxunum)
MANDATORY- _% of Compensation(10%maximum)
1. _ After tax
2. _ Pee Tax (not apptirsble m b., voluntary contributions)
d. OTHER.
D) RETIREMENT DATE (Article VI, Section 6.01)
Normal Redreme }Date (NRD) shall mean:
the fast day of the month coinading with or next following his 62nd birthday
(not w exceed 65th).
Tha Rerieament Plan and Truet 6r �Ae Oan rni Employeee
ottha Owaad a
AOOPT[ON AGRE—
E. E. VESTING OF PARTICIPANT-MTCRM (Article Vl, Seetion 6.04)
El) Vesdne Schedy-I-g
The vesting schedule, based on umnber of
Ye— of Service, shall be as
follows.
a._ 100% upon entering Plan
b._ 0-less than 5 yeazs
0%
5 yeazs or more
100%
ate_ 0-less than 5 years
0%
5 yeazs
50%
6 yeazs
60%
7 years
71 %
8 years
80 %
9 years
90%
10 years or more
100%
d._ Other.
E2) Ifthie isa Restated Plan and the Vesting Schedule has been
mended, enter the pre -amended sehed W e below:
(Does not apply to the FRS opt -out employers)
a. Yearsof Service Percentage Yearsof Service Percentage
b._ Schedulehasnotbeenamended.
Tne Ro[vamem e�ao a�a Try« for ma eeoe�et Emomyees
ofine a,a
ADONION ONAGREE AGREEMENT
F) DETERIIINAT[ N F BENEFIT AND D[STRIB TI NS UPON
TERMSNATSON (Article Vl, Sections 6.07 6.12)
Fl) Conditions for D_at,O utions Uoon Termtvation Break inService
Requirements) (Article VI, Section 6.0�
Distributions may be made at the Pa d pant's election on or after
the Awi-.— date following tin ermation of eym mploent and a
ne year break in service (One-P r Break iv Service =I2 month
period measured Doer the plan year, during which an employee
has not wmpleted more than 500 hours)
b X Dishibutions may be made at the Pa ddpavt's election on or slier
the Anniversary Date following termination o£empl, mevt
C. _ N/A Immediate diAdbutions may be made A the Partiopant's
electiov based on the balance of the Pamdpant's aaount as of the
prior yeaz's vaivavon.
d_ Other.
IFA PARTICIPANT TERMINATES FOR REASONS OF RETIREMENT, DEATH
OR TOTAL AND PERMANENT DISABILITY, A BREAK IN SERVICE DOES
NOTAPPLY.
The Ee[vement Plaa and Truer [or [he General F.mployeee
of the CityLongwood
ADOPT[ONAGFEEMENt
G) MISCELLANEOUS
GI) Tr fe,, fr O 1'H d PI (Artia(e IV, Section 4.08)
(Does wt aPPLY to FRS Opt -Chat Em 10-8)
a. _ Yes, 4ansfers from qualified plans (and rollovers) will be allowed.
b. X No, transfers from qualified plans (and rollovers) will not be
allowed.
GY) Eardshio Distributions (Article V!, Section 6.12)
a. _ Yes, hardship diatdbutions may be made Gom any aceounts
which are 300 %vested.
b. X No hardship distributlons are permitted
ana Rotvomam PWa and m„ai to, ma aa..aral Empmyaad
onno city oc wogwood
ADOPf10N AGREEMENT
Thie Adoption Agreement may be used ody W wujuuction with the Basic Plan
Document.
This Adopt,, Agreement and the Basic Plen Document shall together be knovm as the
Florida Mudapd Pension Trust Fund Defined Contribution Plan and Trust.
We have consulted our attorney with reference to this Plan and Trust
Agreement.
We understand that the Employer may amend any election in tiffs Adoption Agreement
by giving the Trustee written eeti5wtiou dsuch Amendment es adopted.
The Employer hereby agrees to the provisions of the Plan and Trust
IN WITNESS WIIEREOF, the Employer and Trustee hereby cause this Agreement W
bee—etedon the_ day of 19
NAME OF EMPLOYER:
C' I
(Name o/City or Dia6rict)
By: � Date: A:-- , ,z /9/` —
Date:
RETIREMENT PLAN AND TRUST FOR THE GENERAL EMPLOYEES
OF THE CITY OF LONGWOOD -
Su.m Plan Description
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