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Ordinance 2000-1550ORDINANCLNO.',1, -I1 AN( -IN AN( EOF I I IF( ITY Of I.ONO%1001)AMEND] NG A\-D RIF I A I I\G U IE CITY OF LONWWOD I PI I Ul I'I'ERS' AND POLIO E OI FIC ER', PENSION TRUST I IN D, AS ADOPTED BY R ESOI..LI I ION NO. 95-828. AS SUBS QUENI I - AN HENDED; PIRO\IDING FOR DEIIMUMS, PRO\'IDING FOR PAIRTICIPATION: PROVIDING FOR A BOARD OF TRUS'1'EFS; PROVIDING FOR FINA\CES A\D FUND AIANAGE\PENT; PROVIDING FOR CONTRIBUTIONS; PROVIDING FOR BF_NEFIT -\NIOUNTS A-\D ELIGIBILITY; PROV IDI\G FOR PRE- Io ETIRF_HFNT DEATH: PROVIDING IOR DISABILIT\'; PRO\'] DING FOR VESTING: PROVIDING OPTIONAL FORNIS OF BF.\I FITS: PROVIDING FOR SENEFICIARIEN'. PROVIDING FOR CLAIMS PROCEDURES; PROVIDING FOR of TO I'HE DIVISION' 01= RETIRE\1E\ I; PROVIDING FOIL A FOS'11 R OF RE'111 EES; PROVIDING FOR BOARD ATTORNEY AND P Rot FSSIONAI_S; PROVIDING FOR MA\I,\IU\1 PENSION: PROVIDING FOR DISTRIBUTION OF BENEFITS. PROVIDING MIS(] IF \NEOUS PROVISIONS: PRO\]DIN( I'OR RI PIALOR ERNINATION OF PI \\ PRO\'ID1 101i I \I NIP'I ION Il101, E\FCl IION,ANDNO\ ASSIGNABII,II\,PRO\IDINGFOIR FOIRI1 OL RI OF PENSION, \ND CON\ K IION AND 1=0RFEI'FUIRE-PROVIDING FOR PENSION -1 1111TI. PROVIDING FOR SICNATORIES: PRO\IDING fOR CODIFICATION; PIROVIDING FOR SEVH—t LIT\' Of PRO\' ISIONS; REPEALING ALL RESOLUTIONS IN CD\FLICT I IERI WI'EH; PROVIDI\GPLANBENEI II I\IPROVF_41 EN I'S LIAEI1 ATION:AND PROVIDING AN LFFECI'IVE DATE. " IIRFAS, 11,11111 FId Police 011ica's are Prtsziitl\' —,Id,dP,nsiun and—Inin oiler beneFls Ind, RI ion N'., 9\818 of IF, ('ily of \VHEREAS.Ih, Cily Coninn.s�on d�virtt to clam and resi'.�Ic Ill. I+n..... om of Ilse CiIP of Long Dollfir. lig Il— o I'l Poli,I, Ofifi—, L,... .menl Ilan to consoliilnl, xll prior RcminlloiLs andn- Cod, I+ro,i,ions end to inwr...... F,Aulll :ir,;ind aDPGcxblc Procisimu' of Clmplers 175 and I E9. Florida SINIII- NO\ I I FRI FORD.. BE IT HRD \INLD BY I l IN ( 11 1 ( O\NI INlIOV OF '1111 : CI I Y 01: LONGAS'OOD_ F1 ORIDA; Florida Municipal Pension Trust Fund Underlined and Struck Through Version of the Defined Benefit Plan Document written in 1996 and restated through August2000 The enclosed rep.—', an nnd,,lhred mrd.nnrck rh,.gh version ofrh, FMPTF D f,ned R hr Pam Doannem mdlc-r changes rn the —a, Ptan 1996 ("1996 Plan Do..-1 ")- TABLE OF CONTENTS .% ARTICLE 1 DFFiNI'rIONS Section LOl- Section 1.31 Definitions 4 ARTICLES PARTICIPATION Soction 2.01 Conditions of Eligibility _ 18 Section 2.02 Participation_ 19 Seotion 2.03 Change in Designation of Beneficiary_ 19 ARTICLE 3 BOARD OF TRUSTEES Section 3.01 Board of Trustees 20 ARTICLE4 FINANCES AND FUND MANAGEMENT .� Seotion 4.01 Establishment and Operation of Fund 23 ARTICLES CONTRIBUTIONS Section 5.01 Participant Contributions 28 Section 5.02 State Contribution 28 Section 5.03 Seotion 5.04 Employer Contributions Oe6er 28 29 ARTICLE BENEFIT AMOUNTS AND ELIGIBILITY Section 8.01 Normal Retirement Date 30 Section 6.02 Normal Retirement Beneft 30 Section 6.03 Normal Form of Benefit 30 Section 6.04 Cost of Living Adjuatmente to Benefit Paymen[s al_ Section 6.0I Early Retirement Date31 Section 6.06 Early Retirement Benefit 31 Section 6.07 Deferred Retirement Option Program ,'DROP 32 ARTICLE 7 PRE -RETIREMENT DEATH Seakion'l.01 Death Prior I. Vesting In -Lino -Of -Duty 33 Section'l.02 Death After Vesting In-Lin¢-O[ Section'1.03 Death Prior W Vesting Off Duty 'a3 Secti-7,04 Death After Vesting Off Duty 33 Section 7.05 beneficiaries in Receipt of Payment 33 ARTICLE 8 DISABILITY Station 1.11 Disability B-1. In the Line of Dnty �2 Section 8.02 Disability Benefits Off Duty 41 Section 8.03 Conditions Disqualifying Disability Benefits 42 Section 8.04 Physcal Examinntlon Requirement 43 Section 8.05 Disability Payments 44 Section 8.06 Disability Payments and Workers Compensation 44 ARTICLE 9 VESTING 46 ARTICLE 10 OPTIONAL FORMS OF BENEFITS 48 0- ARTICLE 11 BENEFICIARIES 52 ARTICLE 12 CLAIMS PROCEDURES 53 ARTICLE 13 REPORTS TO DIVISION OF RETIREMENT06 ARTICLE 14 ROSTER OF RE1'IRF.ES 5] ARTICLE 15 BOARD ATTORNEY AND PROFE$$IONALS 68 ARTICLE 16 MAXIMUM PENSION Section 16TI Beek Limitations 59 Section 16.02 Pmtitipation in Other Defined Benefit Plans 60 Section 16.03 Adjustment in Limitations ______ 60 ARTICLE 17 DISTRIBUTION OFBENEFITS __68 ARTICLE 18 MISCELLANEOUS PROVISIONS Section 18.01 1-1-of Participants in Pension Plan____ 72 Section IS Summary Plan Descriptions 72 Section 18.03 Govder and Number ____ 72 Section 18.04 Hesuli and References 72 Section 18.05 Benefit Improvemancs 73 Section 18.06 Procedures for Unclaimed Bonefit 73 ARTICLE 19 REPEAL OR TERMINATION OF PLAN 74 ARTICLE 20 EXEMPTIO.N FROM EXECUTION NON ASSIGNABILITY 18 ARTICLE 21 FORFEITURE OF PENSION Ci(�NV[CTION ANU FORFEITURE 79 ARTICLE 22 PENSION VALIDITY 82 ARTICLE 23 SIGNATORIES 83 F.XFIIBITA MASTER TRUST AGREEMENT 84 EXHIBIT ACTUARIAL EQUIVALENT 85 ARTICLE I DEFINITIONS As used hImI, unless ah—i,, defined .r required by the --t, the following words and phrases shell have the meaning d—t,& 1.01 "Accumulated shell mean I P-i­—V, own contributions without interest For those P-wimbf, who P—h-12 Qrdit9d S .. io, with mt—t - It - —t t, the PI,.. only that —ti- If — v .... It --t tt,ib—bl. t. the —6b.ti— basedLe the Ppli,,bl, P-xiv- ... t,iba— — -,hall be included m Agg—WgtId Contributions 1.02 "Accrued BlIlrlt"'. shall .— I fraction If the lb —,fit t. which , Participant would be entitled at their N,—I Rmir--t D—. The numerator of the f .. ti- is the years f participation —pl-d w date and the d .. Iin— i, the y,,,. If p—ip,t— in the Plan that would have b— earned if the Participant continued employment until thair Normal Aetiramevt Date. If' "A I— shall - I. actuary that is a ­bI, If the Society If Actuaries or the American A,,d—y If Actuaries and who Is —11,d —d- subtitle C ofTitl, III If the Employee RIt--t 1—, Security Act If 1974. 1.04 "Attu anI AIII —. I benefit .r .—It If equivalent current -1— t, the I—Ifit chat —Id otherwise have, been provided . th, Participant, determined nn the basis If appropriate actuarial methods —d --W I—pt,.- da—i—d bytheAd..uanddb,lhAdm Accu ial Eon vales .� fu h dfi d- th tch C ukedix Exhibit S_ 1.05 "Ad t A t shall mean the d current —th.in the snggif,, b fits th Pl uted b the Em to er and ched to and made art of the Plan 1 the amount afthe Emplaye,'� eentributieRs if ftq euxxknmaintained by the E.Vlayefi ,�yer: E�3--aflY-f f +eaeeu-asde§.�-i�. r..d_,�`.ef"wplen-Ees-dew the ___-' 1.0706 "Aver- Final Comoensat"on shall moan one twelfth (1112) of tho av rags nnual compensaEion of the five (5) best years of the last ten (10) yearn of Credited Bervice prior to retirement, termmatton or death, or the career average, whichever is greater. A year shall be defined as the twelve (12) consecutive months immediately prior to death, dieabiliry or retirement. in the cases of a vVolunteer €firefighter, Average Final Compensation shall mean the average 9 ,I ­of the five (5) best years of the ten (10) best contributing years prior to change in status to a permanent full-time Ffimfightar or rstnament es a vVohmteer fl` raBghter or tho career average ofn Volumeer Firefiehtor, whichever ie greater. 1.0807 `BB_gfica V% shalt mean the person or persons entitled to receive benefits hereunder at the death of a Participant who has or have been designated in writing by the Participant and filed with the Board. If no such designation is in eff-, or if no person so designated is living, at the time of death of the Partioipant, the beneficiary shall be the estate fthe Participant. -008 "Board": shall mean the Beard of Trustees, which shalt administer and mnnnge the Plan E p.ayees Piehere' s Tru sof the Fund 1&0orp ode shall mega the Internal Revenue Cede 1986 . as amended from time to time. l.�-110 "Credited Servlce shall mean the total number of years and fractional part. of flare as a Par icipent during which the Participant made required contributions to the Plan. omitting intervening years or fractional parts of years wb- such Participant is not employed by the Employer. Credited Service may be given for f I t as a P I' Officer FireSghter or Public Safety Otfiee r t. Ian e don at the discre i of the E 1 d as stated n the Adonton An ant. A Participant may voluntarily leave his Participant contributions in the Fund for a period of five (5) years after Ie..mg the employ of the Employer pending the p—ibflity of being rehired in a voaition .liable for n .atio. in this Plea_ without losing credit for the time that be wa. a Part tips, in the Plan. If a the yew. ed Participant does not become reemployed within Svc (5) years, the. the Accumulated .Contributions will be returned w the Participant without interesb . re e'nt of written re .est of the Partieib— I[ a Partiei ant w ho is of vested is asto ed with the Eebto er within five o s his Accumulated Conmbutions shall be returned. f Partiaieeats Accamut ,bjrxb.ti­ all i hte and benefits under thenPlan re forfeited end t-sainated.0 on m to meat in on eli 'bl LE na not on Pt¢iePlepyaPag_icigan=shall not receive credit forthe years and fr lional a.,le of a rs for which he has ithd,.— his Accumulated C.—tbut_mpe f;pm the Plat, unless the Participant re_pays into the Fund the tributions he has withdrawn ith interest as determined b the Board Alh,a ninety f90) days after reemv1. —.t. li9aeawpa.i:npeat lo, -as amp off. as d— Pa. kt — the A Par id — shall receive Credited Service for all n ea iadud-n vestige for the years or &aoti.nal part. ofyears that he is engaged in eaal the mi.—se of the Armed Forces United States v.lu it fter em l-a with the Fm So er f ..arm trainine.r se.vica. oo ovided that net. uded; he (A) the Psatie�paat aawa ma— a, hie hnd-remained-s-Rartiaiyeat--R/a.-en-.mega[ cr.:n�-�.� ak�eresttassamgven-in- h—nre-I.haatian-kematha iat, the P-tie-.:.a .p* ,yeaent-te-the-deteufaaibaek- LAI Thx Pastc ant­t -t— to his — lu — �wth the K­LXe, jthj._.­AJL the d- of miLt­ disch­ �h—1 �- f— a.m. I-m— LL31 Tb, P-66,— , .tgld t� —.Ploe_u dl, �thllllilioll ,f th� U,,ift­d Sa MERRA)AP L 103 3531 LCJ The —i— —d�l for military s r to ant to this h �h.11 �b� five 5 ears 1. 11 "Deferred Reticement O.ti.. Pl.." ., "DROP" - shall t —tm.—, A P-- �-- et— furp11­­Lth� I �..d defer —mt f b—f- into� DRQP 4-91t whlll wltillila —1--t within @mpl— H--, , P-kiv-t whoenterstha DROP —d wh� iihp—i. nhgjble w p—mp.tg ghall not th,,,,b, be ­dded hnm particinatine .r —lmui- . ortki ate in a sunvlemental -- in --1-- --d . of a DROP bthE­lo­ --t S-i— M, 'DROP,"f the Ado 2jjqn_A­t LU2 "Early Retire nent D,t,", shall .—n the d— which ns is specified i. the Adoption A,-- - Section G3, Early Retirement Date. L.13 "Effective Date': shall .— the data of this Plan as ap-i&d m tho Adoption AU,—..t - Section AL 1.— shall mean the classes of employees des e ted ae ahpblI to participate in this Plan as specified in the Adeption Agreement- Section 6.e eept as oth—i- provided in the Adopticn Agreement. 1.361u "EmotoveY' ,hall moan th, gjjjnjqjpIlhv gov rnmantal -city, public agency or pehti,.1 subdiJvmon established within the State of Floda that adapts tbis Plan. 'i�dc_•_'�aa-imlude-eniti-thc-Em9loYae'ssp,x� -and-]ve 3iaea3-dose, fie' ae LU16 "Fi Peht Y` ,hall mean any person ,mployed ,,I,ly i by a constituted Fire Bdepnrtment bh f d t of any municipality or special Eve control district who is certified as a Firefighter as a condition of employment in acemdanee with the provisions of Section 633.36, Ft. Stet., and who,s duty is to extinguish 5res, to protect life, and or to pmtectproperty. F =3St LM17 "Fri dd"' r shall meae tho Tn„t Fund ostabtishsd hor,in as p,rt of the Plan. ....r,. =.a—� that-as �Oed— B ..... 1 (B) in determining who i.�, bAe 6e+g3oyeneexakitetimgF�ted-Sbateaseur:_ - _-_:'...'.i::tlie-�eexing P,mRlvYees 1 segaeaEeA--fre�ee�ee)-pr�eteikc.�„-�,-,-seef s-ae-se�ieH'ee .m .. : yer during .., --•-erveeany Bean-�'eex 13BI8 "Lmitation Yeac shall mean the Plan Year. 1.M9 "N I B t t D ", shall mean the date as specified m the Adoption Agreement Section Gl Normal Mixement Date. 1.219Q "Particioant or Member" shell mean the actively emoloved eFFniployees whe exe eligible to partioipata in this Plan as specified in the Adoption Agreement Section B, Plan and Section C, Ehgibihty. Ben fit imp-- which in the a t h-g been e vided for b endments to the Plan ado ted b the Em lover b ordinance e eelumt and a benefit im r ants which mi ht be made in t e future shall eo 1 eetivel and shall@ee a 1 to Paxtici a ,who t m to nxwho ret x to the effect e data ofut ordinr reeolutimei adoti, u e ements unless retch ordinance o eolnt ecifically n_.gyid- to thl c Ln 1.8321 "Plan": shall mean the pension Plan - heroin eet forth and as say be amended from 1.2322 PI.— Year": �- shall mean the Plan's accounting year of —111 (12) eoneocutivo months eemmendmg co on October I of each year and ending the following September 30, or the Plan Year as eD—fi,d in the Adoption .Agreement ,"23 "police Office shall mean any person who is elected, appointed, ar employed full time by any municipality, who is certified or required to be certified as law enforcement officer incompliance with s. 943.1395, Fl. Stet.. who is vested with authority en bear arms and make a--, and whose primary responsibility is the pre cation and detection of prime or the enforcement of the penal, mrmmal, paf6c or highway laws of thn State. This definitimr includes ail oertified supervisory and command personnel whose duties inclu& in v hole or in part, the supers Caron, tsar mg, guidanu. and management responsibilities of full- time law enforcement office a part-dme law enforcement officers, or auxiliary r law enforcement officers, but does It rnalnde part-time law enforcement officers or auxiliary law enforcement officers as the ea me are defined in s. 943.10(6) and (8), FL Stat, respectively. A Police Officer classification sh,U also include a public safety officer who is reeponsible for performing both polioe and fire se i— L. 2e _P.bHc Safety Ofli er'' shad mean an actively employed parson who is msp —blc for performing both fire6ghter and police officer services. A Public Safety Officer shall be considered a'pohco officer" for the purposes of this Plan. 1.3625 "Satarv/Comae rsaC'o r Ghag he . Agreement- Por Pir hters —t— o 'solar " the fixed month) e o aid amFire hies nhera the c o[ a Volunteer reirvhte ie based on c ual se endered the ce monthly basis. Fe, Police Officers .aljar" or the total esh rs a�eeion aid to a Police Ofioec fors to d-d icldiltia, but not i.d,di­­ ..dent .tc d--rial detail work — o­fmd.bshslf.f. ae.�.,, sd�e, m.a C—p--i— s ofth, li,it,ti..s rga forth i. Section 401(,)(17) of Ills Code shall rgt be i,glgd,d as ­Igryft,emms.ti.. f., a.—o f the Pl­ See Sec D of the Ad-tio. Am,,,,.t for ft,,the, d­,ls. No i h, haso, Semoom (A) mamensudso, a, s $150,000 ander I I the G-d' he of (mijamed— , smard ty th g-'s mr,44� Tmmo'—')-.k.4-h"sha� ow,hasplayea— Compasses'— Imai—ill-he modli'ba whe,h_-F ' (Ed Rev parm _,mher comperaft h— sated Employee who .- --as paid tka-_'­oaa� Gasrr'oamm�'-them Suelo Immily 14'solor 'ball xet Ltl726 "Soouse shall mean the lawful ,to of husband of a Par ,ipant at the t a benefits bee vable. 1.2827 "Tgtal and Parma ant D'sebHit� ,ball mean a physical or mental condition of a Participant teeultng from bodily injury, disoase, of mental di,ordo, which render, him incapable of employment es a Firefighter, Police Off—, or Pebhe Safety Officer, eespeeEive}y. and which condition cboait— to Cal disability as determined by the Board. 1.M8 "Feast Fund or Trust shall mean the Trust Fund e,t,bb h,d under this Plan to hold Plan a„et, and to . hieh contributions ate to be paid and benofite held. Nothing herein shall preclude the oetobhohment of mote than o,, bust fund ee may be eeq—d by law oe adopted by the Employer. 1."Z2 "Trgete= shalt mean the person or persons named as Trustee -:m, sefara ost -a__.,.a byte n.__ _ __a�,a:, and_maki_&_P_the -n .e.-a=-ta�a Board of Trustee, of Board ho shell administer end many a the Ptan.. 1.bL30 "Vnluac'on Data"- shallmein the 6,et day of the Plan Year. 1.an `Volunteer FirefehteP shall means any person whose name is —vied on the active membership roll of a constituted volunteer fire department or a combination of a paid and volunteer fire department of any mu fcipahty o special fire control district and whose duty is to extinguish fires, protect life, and to protect property. Componeation for servmes tendered by a Volunteer }Firefighter shall non disqualify him as a volunteer. A person shaft not be disqualified as a cVolunteer Fjrefighter solely because ha has oths, gainful employment. Any person who volunteers at a fire, but is not an active member at the department described herein is not a vVolunteee fEmfighter within the meaning ofthis paragraph. ARTICLE 2 PARTICIPATION 2.01 Conditions of Elfeihilit A Far icipant.,h,U become eligible to p-tfcipate In this Plan as specified in Bsetlon C of ehe Adoption Agreement. €er-F+refiehters�kele+e-/�aer - -- - aZs a covdition of eligibility, the Employee partisip— shall ba r,quued to complete a medioal eaammahon as prescribed by the Board. and provide complete and accurate lnformation ooncer ing theh health etatus as requested by the Board. Any ma1-ml misstatemenw or omissions of required health of medioal information by an applicant or Partisipant shall be grounds for denial of benefits Based upon medical evidence of any preexisting adverse health condition. resulting fin- th,, prescribed examination or other —di,.1 record. or Ma., the Board may d—.m, ineligibility for disability benefits h--d­ as related t. ,.,h pre-existing —ffiti... A Participant may b, declared ineligible for disability benefits only at the time of the initial examination provided i. this —i-, or ,t , 1,- d— if the Board established that a —ffit,. --d at the ti., of the Participant's employment o, d.te of participation, ..d the condition was k— to the —ply— A determination of pre-existing condition shad be reoorded on the P—kip—t', —,,d of membership, , copy of whioh shell be provided t, the Participant, and shag be reflected in the minutes of the Board —tmg at which such determination was —d, by the Board- The procedures followed and the determination ofthe Board ., t, , preexisting condition shall be considered .. a uniform, nondiscriminatory I—i, 2,02 PaotfOj­tbo 1 Eash Par iupant shell c mplete a form proscribed by the Hoard providing the followingi formation. (A) nmllment in the Plan (B) dosignation ofe benebciary or benefiri— , (C) lj a certified statement as to prior medical history, and 24 a waiver to release and access medical records. 2.03 Ch..n Des net o of Be refici A Partiapent —y from time to time change hie designated Benefioiary by written notreeto the Board upon forms provided by the Board. Upon such change, the rights of all previously designated b,mficiaria, to receive arty benefits under the Plan shall ceaao. A change of beneficiary shell not require voneerrt o{ the benetcary. ARTICLE 3 BOARD OF TRUSTEES 3.01 Board of Trustees F:=ev],� --- (Al The sole and exclusive administration of and responsibility for the proper operation of the Plan is hereby vested in a Board of Trustees. aaxsist>•»g-Af-F+E-H -�- �i�raataaa9, These trustees shalt be selected according to Shapter Sectiop raj 175,061 (1)(b)FL Stat, end Shapter Section 445.36(4)(a) 18505 (1)(b)Fl. Stet. Each m d pleas�'ee-ih - ;,�,f-E1r ee-e-Feetieipe#-eo-aeherxtiser�aeetee-1as Quarar Each Board of Trustees shall be a legal entity with, m addition to other powers and responsibihties contained herein, the power to bring and defend lawsuits of every kind, nature, and description. Accurate and detailed aaounts of all Board meetings must be kept- All acc — , books and records relating thereto shall be open w inspection and audit In accordance with general law. The Board shaft ,ssua such reports as are requested and make mailable m the same for nspection any and ell records and aceome, which are deemed appropriate m coder to -o ], with goveremental regulations iesnod thereunder. (B) The Board members shall, by a majority vote, elect a Chairman and a Secretary. The Secretary,---�-�R of the Board shall keep a c .plebe mmnbe book of the actions. proceeding, or hearings S the Board. The Board members shall not receive any compensation as such, but may receive expenses and per diem as provided by taw. (C) Each Board member shall be entitled to one vote on the Board. "-�,4r�--('�` afnetive-vetes A maioxity of the Board shalt be necessary for any decision by of the Board. A Board member shall have the right to abstain 6om voting as the result of a confliot of interest provided that Board member states m writing the nature of the conflict and complies with the provisions of Section 11U143, Fl Stet. (D) The Board of Trustees shall engage such actuarial, accoun fng, legal, and other services as shall be required to transact the business of the Plan. The compensation of all persmre engaged by the Board and all other expenses of the Board necessary for the operation of the Plan shall be paid from the Fund at each rates and in each amounts as the Board of Trustees shall approve. (E) The duties and responsibilities fthe Boazd of Trustees shall include, but — naoessarily be limited w, the following: (1) To oonstrve the provisions of the Plan and determine all questions arising thereunder. (2) To determino aR questions relating to ellgibWty and participation. (3) To determine -4--fy tho amount of all benehts hereunder. (4) T, -bl.h u,form rules —d p—d— t. be followed for dmmit-ti- q—., benefit applications, and Ill matters required to administer the Pl... (5) To distribute t. Participants, at 1-1-1 infurmatron —.,.mthe Plan. (6) T, mv- and process all applications f,, ­,mp.ti— —d benefits. (7) T, anthems all payment, whatsoever &,. the Fund, ..d w notify the disbursing agent. in writing, of approved b,,,,fit payments and other expeadituree arising through operation dthe Pl.. and Fund. (8) T. h— performed actuarial studies and at least triennial valuations, as rep rred by law and —L, —...-d.ti— ­,,&.g any ..d all 6ang,,, in the provisions of the Plan. (9) T. perform such other duties as required to d—,,— the Plan. (10) Ar,..p f., and silent physicians f., —d—i -- and —i— and advise .. —dit.1 disability eligibility issues. (11) Invest and reinvest the assets of the Fund. 12 At least once —m three M .ears. the Board s),.Il retain . rofessionall uali6ed rode indent con. ultant who shall —1— the —tft.— of — xi tin —f—i—I --get -d shall .1k, —...I.dai— t, the Board r , dinth 1 - of -ne, m—.— f., the i--t.— -- Th,,. ---dati— shall be --ide �db theBoard its 1-1 scheduled ARTICLE 4 FINANCES AND FUND bIANAGEMENT 401 EstabBahment a.d_Operationof Fr id (A) As part of the Plan, there is hereby eetabbeh,d the Fund, into which shall be depositsd all of the contributions and aaaets whatsoever attributable to the Pl- rncludlmg any assets of any prior ...ioipal [lust fund(,). (B) The actual custody and supervision of the Fund (and aaaets thereof) shall be vested m the Board. Peymont of b—fita and diebureemanta from the Fund shall be made by thin di burafng agent but only upon written authorization from the Board or its deslgnea. (C) All funds end-seevxitiea of the Plan nay be deposited by the Board with the Employer, acting in a mmi—i,l capacity —ly, ,h. shall be liable in the sans manner and to the same patent as hs is liable fox the s,Ek,,,,g of funds far the Employer. However, any funds erW secaataea so deposited with the Employer shall be kept in a separate fund by the Employer or clearly id,ntifiad a, ,uoh funds a--o� If the Plan In lieu thereof, the Board shaft deposit the fu.da I -I seearaxa i. a q,,hfi,d public depository a, defin,d in Section 280,02, Fl, Stagy which depository with regard I, each fund, � ' - shall conform to end be bound by a0 of Ole p,,,i,ion, of Chap- 280, Fl. Stet In order to fulfill its investment responalbilities as set forth herein, th, Board may retain the services of , I -di- bank, an investment adviser registered under the Investment Advisor, Act of 1940, or .therwrae ex mpt from s.,h required registration. an insurance company. or a combination of these for the pug ,, of investment dem,wne and management. Such invest.,.( manager shall have dis—ti., subject m any guidelines as prescribed by the Board, in the .� investment of all Fund assets. (D) All funds .-ac____e of the Plan may be commingled it3 hoot Imitation', o mental invest e t tr sts no-load in eetme f ds no load mu velrfunds nd 17 such tr s s or funds must coin I with th Inv ant Polk as gnghed as Exhibit A. er--anY--etAee m_�.,`.�ma t-$xud-sa-sxy-greupieusE-FmdrvAie§etkhe palified agreement, as amended fiom time to time, is by Qiis Accurate records are to be maintained at all timos t,fl,,ti,g the flnanclal composition of tho Fund, including accurate current accounts and entries as regards the following: (1) Curront .mewls of eAcsumulated Ccontributi— of Pax kipants on both an individual and aggregate account basis, and (2) receipts end disbureements, and (3) benefit payment., and (4) current amount, clearly reflecting all monies, funds and assets whatsoever attributable tc cmrtributions and deposits from the Employer, and (5) a11 interest, dividends eml gains (or loess), end 1 (6) such other —,i- . may be properly required so as to mg,bt a d-, .,d complete financial rep— of the Fund. (E) An independent audit shaft be performed ab—Hy by . —i&d public —,--t far the must --t fi—I year of the Employer showing a listing of .—t, and , statement of all income and disbursement during the y,,,, Such -- and disbursements —t b, b,.-il,d with the -- at the b,p.i.g and end of the year. Such ,,p,,t shaft reflect a —pl— evaluation of -- on ba k a —t ..d .,,k,t basis, as well ., other items normally included in a certified —d,. (F) The Board of Trustees shall have the Nib— i--.— powers and authority (1) The Board of Trustees shall b, —d with full legal title t, said Fund,subject, however, —d m any event to the authorityit, 'd Pthe governing bi,g ,dy of the Employer W amend or te rminate i,.,, IhthisPlan, provided that noamendment 1 b—It in the .,, f any-- Fund Fd —pt for the payment of regular expenses and benefits .,d,, this Pl—, ..d ... pt .., otherwise provided i,, this Pla,. All bb.,,ibax— deposited i.. the Fund, and the i..— Ih.,-1 with — distinction bbt— p-,dp,l and —­ shall be held and administered by the Board. or its agent, in the Fund, and the Board shall not be required t, sagregat or invest separately any portion of the F..,L (2) All monies d into or held m the Fund sh,,B ba investedand reinvested -d by the Board. The Funds shall b, --bd in —,d—e with an established investment policy adopted by the Board. The adopted investment p.hm, will to omd, part of this d-o—t ..d sImU b, attached to Exhibit A. '3) Ttm Board may m.- any invsstment i. securities hold by 't . be registered in or transferred into its name es T-- o, into the .., of such —itto as it .,y di—, or it may -m them mmtgistotmi end i, , to,, p—itti.g --&tability, bot the b,,k,, and t—il,, shall et all times show that all investments ,,, part of the Trust Fund. (4) The Board i, ,pw,,,d, but is not t­ixim, to — mmm any —tk, bonds, or --tio, of any corporation, --toom It trust and to p- gt—.1 or seem p—i,,, m powers of attorney with ., without p—, of substitution to pm,titip— to otg-, —og—m.tiomo, —t,ittl—tmo, —Adb,timm and msimhar t,ommam., with —p— to such securities; t, deposit such —1, ,, m1m, —tito- in toy voting t,.tl or any p-ttl— or like t.—tto, with the T—,to, or with depositories designated thereby; to —.it— ., foil to amortize any part or all of the ,-- or discount resulting f—, the acµuisition or disposition of assets; and generally t, —mi,, any ofth, pm,— of— .— ,with —p- 0 ­k, bonds, other t—o—o—, comprising the Food which it ..y d— to be i. the If- interest of the Fund to —.i- (5) Aoy oomMoyom— to o.dtip.ym.,,tt from the Fund to Participant to b,.,fiii,,y t—td by -t— of computation shall b, adjusted with mom- tt , rat, per aonum to adoomi in the prior ;-, actuated valuation O-tpoyo-ott shall he charged tpi-I Ply—, lolt .1—di.g the --i— Umd,,ptyom— shall be omm, up 5 — the Trust Fund. (6) to coy application to or pmm,d,.g of tit—, in the the B.,,,d .,,d E.pl.y., AtU to a nec.,ssary patty, and no Participant or other person having an interest in the Fuad shall be entitled to any notice or so,— of process. Any judgment onterod in such a proceeding or action shall bo c��nolusi�e upon etl persons. ('7) Any Powers and functions of the ➢oard may be perfermed or carried out by the Board through duly authorized agents, provided that the Board at all limes maintains wnt�nuous supervision over the ass of any such agent; prwided further, that legal title to the Fund always remain with the Board. ARTICLE 5 CONTRIBUTIONS 5.01 Park c' t_Contribvtlor s (A) Amount Participants m the Plan shalt be required to make contributions to the Fund in the amount specified in the Adoption Agreement Section K. Emolovee Contributions. (R) M4Ihhud Partkipant contributions shall be made by payroll deduction. Participant contributions withhold by the Einployor on behalf dthe Participant shell be deposited in the Fund at-krestmenthly-mmed'ately after each — paned (C) �0-Tas Enplovee Cootribr i rs If Pre-tax Employee Contribntions are applicable, this provision will be noted within the Adoption Agreement - Section K as pro -Cox contributions purspant to Secion 414(h) of the Cod, otherwise the Plan will assume after tax contributions. Such designation is contingent upon the contribution being excluded from the Employees' gross income for federal income tax purposes. For all other purposes of the Plan, sari, contributions shell be considered Employee contributions. 5.02 St,- Contribntions Any monies received or raccivabls by reseon of lave of the State of Florida, for the express purpose of funding the Plan shall be deposited in the Trust Fund comprising part of thin Plan immediately. Contributions must be deposited within five (5) days after receipt by the Employer. 5.03 Employer Cortr'hutio,s So long as this Plan is m affect. the Employer shall make d--t quarterly contributions te-tb Tf+-- d fin each Plan }soar to the Trust Fvnd in nn amount equal to the amount determined by the Actuary_ taking into account Participant Sn—n butwo seats contributions for such year, and the total mat fir the Plan Year, as represented in the most scent actuarial valuation of tha Plan. The total mat for each Plan Year shall bo defined as the total normal cost plus the additional amount sufficient to amortize the unfunded past servim liability eeeure-ns Ac '--' by the etun n a ov'dsd in Pert VII of Chanter 112 Florida S[as> 5.04 Other P,ivate donations, gifts and contributions may be deposited to the Fund. ARTICLE 6 BENEFIT AMOUNTS AND ELIGIBILITY 6.01 Normnt Retirement Date A Participant`s Normal Retdement Dare shall be as ,pacified in the Adoption Agreement - Section Gl, Normal R theme., Date A Participant may retire on his Normal Retiremmrt Dace or on the first day of any month thereafcer. Normal Retirement under the Plan is retrement from employment with the Employer on or after the Normal Retirement Date and completion of the required year, of credited 6.02 Normal Retirement Benefit A Partioipant ratting hereunder on or after his Normal Retirement Date shell recmve a monthly benefit as specified in the Adoption Agreement - Section G2, Normal Retirement Benefit which shall commence on the first day of the month coincident with or next full —mg his cermination of employment. In the event that n Participant doe, — begin to receive hie Benefit at hie Normal Re i--t Date, such Participant shell be entitled to a deferred benefit equal to the benefit ha was entitled to recmve at his Normal Retirement Date, adjusted to take into account his Average Final Compensation and year, of Credited Service as of his actual retirement data. 6.03 Normal Form of Benefit The normal form of benefit shall be a single monthly retirementbenefit for life, reasing_upop d"th but with one hundred twent, (120) gmn[h}y o ants e .ranceed-n rand-[o.^�arm--a--a'�r,: G7 6.04 Costnf Lm.' Adjustments to Henoft Payments A m,t-of-Ii­ mere a, if apphoabk, e shall bas ,p,slfied in the Adoption Agreement Section L aCOLAAdiu,t ants 6.05 Early Reti nt Dat A Participant may re ve en the Early Retirement Date as speci5ed in the Adoption Agreement Section G3, fly Ret iement. Dat . Early retirement under the Plan is telminaxiov hem employment with the Employer on or after the Early Retirement Date end prior to the Normal Retirement Date end the 1-1 oompletion of the required year, of credltod,ervice. 6.06 Early Retirement Benefit A Participant retiring hereunder on or after his Early Ra i--t Date may receive either a deferred or mr immediate monthly retirement benefit payable for life and ten year, aarmm a, fo l— (A) .A deferred monthly retirement benefit whwh shall comments on what —,ld have been his Normal Retirement Date had he remained a P-ticip—_ determined based uI.. hi ual f C,Idhd S—i e. The amount of such deferred monthly retirement benefit shall be determined in the same mama, a, for retnernent at his Normal Retirement Date as determined based h' t I [ G d- d S-i- .ept that Credited Servrae and Average Final Compensation shall be determined as of his Early Retirement Date;m (B) An Immediate rvonthly rothmmont b-,R which shall commence on his Early Retirmnent Dete. The amoant of the Early Retirmnent Benefit shall be determined m the same manner as for Retirement et his Normal Retrement Dace, e.—pt the benefit ,hall be actuarially red Iced to take into aces nt the Pnrtolants vo and the—fi-c tof rc r pay ems,- as ap—fi,d m Section G4 of the Adoption Agreement fir each year 1 before the Normal Retm—t Date that benefit payment commenced. 6.07 DEFERRED RETIREMENT OPTION PAOGRAM or "DROP" A Defplmd R ttremeat 0_ Roma P� 'DROP` Viable shall be as 'fi d' th Ad ti�me_nt��t}o MM—DEFE�I iED E REMENT OPTION PROGRAM "DROP" ARTICLE 7 PRE-RETIREMENI'DEATH 7.01 Death Pnoc to VII tCne-In-L'peQ4Duty Prior Co rtta,,a t, if the Partiaipant dies xe-ha, f-duty. and he . not vested, his benefidary shall caceive benefits as specified in We Adoption Agreomoat-Section II, Death Prior to Vaatine- In-Liae-of-Date 7.02 Death After Vostiae - Iv-L'ne-Of-kyt Prior to retirementif a vested Participant dies ie h., f-duty. h.— mpietel the ng aired ve rs of Credited 5,_ef ce his beneficiary shall receive benefits ae specified in the Adoption Agreement - Section I? D-th After Vestina- Ia-Line-Of-D.ty 7.02 D—th Prior to Vestine - Off -Date The beneficiary of a deceased Partiaipant who uae not vested and who dies prior to retirement fi— causes .,he, Wan in-laao fdnty shall receive u ref.nd of one h.ade,d percent (100%) of the ParticipaetsAccumulated Contributions as specified is the AdopWa Agreement Section I33. DeaW Prior to VL�si.n -QMD� t , 7.04 Death After Veet rg OOff-Duty If a vested Participant dies prior to retaea,— from reuses other than -in -line -of -date, hav mnleted the re iced are of Credited Set e his benefioiary sball re — the benefit otf e—iee payable I. the Participant at We Eariy or Normal Retirement Date a erified in the Adoption Aereement Section f4. DeaW After Vestine- Off Date 7.05 Beaefriar es It, iot fP]S!4 t A Boaeficiary may not elect an optional foam of benefit however. We Board, in its dise,etioa, may elect to make a Lump sum payment w a beneficiary of the death benefits payable hereunder that best moats the mrcumstances of We boaef iad and the T,-L A beneficiary may, in fie. of aay benefit provided in Sections ',01 7,02, 7.03 & 7,04 above, elect to receive a refund of .` the deceased Participant's A--lamd C .I,ibuti — ARTICLE 8 DISABILITY 8.01 �isalicy Benefits ln-Line-0f-nuts (A) Benefits Eaeh Participant who shall become Totally and Pzrmanently Disabled whfe an active Participant of the Employer to the extent that he is unable, by reason of a -d-lly determinable pbysical or mental impairment, to render useful and efimient service as a Firefighter, Police Officzrr p Public, Safety Officer, F,mplo , reepentivnly, which disability was dixztly caused by tho performance of his duty as 3 Firefighter Policy Officer, -or Pebhc Safsty Officer , respectively, shall, upon-Alishing the same to the satisfaction of the Board, be entitled to a monthly pension whioh is as def ned m the Adoption Agreement - S-- Ill Disability Benefits In -The -Li- Duty. (B) r.res_n_nution S.kbe An cunditlon or mpairmeut of thn hoalth of e Firefighter, Pohce Officer or Public Safety Officer caused by tuberculosis, hypertension or heart disease, or bard —me of the arteries for a Police Officzr a Public Safety Officer shall be ---d to have been auffzred in lineof-d,ty unless the contrary i, shown atheru§soby competent evidence, provided chat such Firefighter. Pohce Officer or Public Safoty Officer, shah have successfully passed a physical exammatlou upon cote ing into employment with the Employer, which sucmcludee g a cardiogram, which failed to revoal an, -id—. of h mnditie and provided further, that such presumption shall not apply to benefits payable or granted in o policy of life insmanve or r disability insurance (c) Add e I r r Er—F-enfigli , .� ...,,,—_-- lie.... _ - - Sectioa 112.181 Fl St d d f t m m hme ie hereby adq�d and in ted b f and's aoolicable The p _p P d Are ao ttuinar—bly to those conditiaas described Ihereio ni-thoin.1,erapaph G, that are diagnosed reread on or after, January 1.. 1996, damon—apply .�wa�-n�.� e:.au-=•seen-biaad-aad-�dr--a»;da rearmanormg—i.ble blood and inner body 9H «nw=raal--preea,wiaas--for--��t�w�a��e+ mment r"barealems, the term -a. �-- — --- � On -a A Damara Efflemmem as a beremae argon marianitis aoaa, pa to§creelesiU 1 test6 fail to iotheave the in-ehe �. taatat,,-41 r_blie Qaf�w t T., dees in pa-ffaph not apply c— the Base of . _ _ -_ _ __ _ _ 8.02 D" .WFty Benefits Off -Di tv Every F-r fighte Police Offimc oc Pnblk Safety Officer ar-6omerel-Setpleyee, as dofinod in the Adoption AgreementSectionen B, Plu ho shhave become hbecome 1 - Totally and Permanently Disabled to the extant that he is unable, by reaeon of a medically determinnbla physioal or mental impairment, to render useful and efficient sm vme as a Firefighter, Police Officer- '� Public Safety Officer, nectively. —G�uc._. es defined in Axticle 1, and which d—bihty u not directly caused by the pdormance of his duties as a Firefighter, Pohca Officer; or Public Sat ty Officer of respeceively, shaP, uaon _ablish ne the s me to the satisfe ty �n gf th B �gf�g, be eutitlod to a disability benefit as provided m the Adoption Agreement - Section H2, Disability Be fill Of4Dn A dlenbled Par icipant that dozv not meet the credited years of secvire requvements in the Adoption Agreement- Section H2, Disability Benefits Off Duty, will reomve a return of his Aaeom,—lnted C—,ibutlone without 8.03 Conditions Disaualifv'.e Disi b'lity Benefits Ench Participant who is claiming disability benefits shall eetabhh, to the satisfaction of the Board. that each disabWty was not —i—d primarily by. (A) Excessive or habitual use of any drugs, intoxicants or a " t (B) Injury or disease sustained while willfully and iD,g,Uy participating in fights, nobs or o 0 insuaeotrona, or wh& one a cr (G) e. (DC) Injury or disease sustained while serving in any branch of the Armed Pofcae. (ED,) Injury or disease sustained after his employment as a Partioipant with the Employer had t—innted. (GE) For Pol'.ce O)ft L aId PNrb('c Safety Officers only injury or disease sustained by the Particfpnnt while working fm anyone other than the Pkftiewynert Em�l­ and arising out If such —ploy.— 8.04 Ph s cal Exa not It t A Participant shall not become eligible for disablity benefits until and unless he mrdergoes physical exaimna lee by a qualified physician or physicians and/or su ,ors e who shall be selected by the Board Fox that purpose. Any Participant racorvmg disability benefite under this Plan may be periodically re-examined by a qualified physician or physicians and/or surgeon or surgeons who shell be selected by the Board, to determine if such disability has ceased to exist. If the Board finds that the former Pertielpant is no longer Permanently and Totall➢ Disabled to the extent that he is able v, render usafv] and efficient service as a Firefighter, Pollee Officer, or Pubhe Safety Officer, en Eenera4 � #respectively, the Board shall recommend be the Employer chat the former Participant reeires be returned b performance of duty as a Firefighter, Police Of — or Public Safety Officer, a —acre, —twee respectively, and shell again become eligible to Participate in the Plan. In the event the former Participant so ordered be return to employment shall refuse ve comply with the order within thirty (30) days from the issuance thereof, the Par icipant shaft f if- the right to his benefits hereunder. The cost of the physical examination and/or re-examination of the Participant claiming and or receiving disability benefits shall be paid by the Plat. All other reasonable costa as determrnad by the Board incident to the physical examination, such as, but not limited te, transportation, meals and hotel ---detioos, shall be paid by the Plan. If a mi Participant reoovers from disability d reeners tthe se me of the Employeres a Participant, his service wilt be deemed to have been continuous, but the period beginning with the fi— ee—th fox whid, he mee-d a disability retirement income payment and coding with the date he reentered the service of the Employer will not be considered ae Credited Service for the purposes of the Plan. Th. Board smdl have the power and authority to make the final decision regarding all disabihty onus. 8.05 Disability Payments The monthly benefit to which a Participant is entitled in the event of the Participant's disability shall he payable on the first day of the first month after the Board determines such mititlement. P nvided however the Perteeinant o tVselect at any tim­ioc_te the date op.yih_ch b et_nefiripavmonra beg��n 1 fo f benefit a ment as described in Aetiele 10 0 tmnal Forms of Benefits which sha I be the A,t ... al Eamivalent fthe normal her. of erefit The amount of the first disability payment shell inclmde se amount payable I— the date the Board determined such entitlement. Disability benefits shall (A) If the Participant recovers from the disability prior w his Normal Retirement Date, the d t d- as# the date of such recovery, or (B) If the Partioipant dies without recovering from disability or attains Normal Retbmrtrm Dme the tat of the t due next ym,eedi.ghis death I 120 h] 8.06 Disability Pavme ntfi& Workers Con t If a Participant rreems a disability benefit under the Plan and workers compensation benefice pursuant to Chaptar 440, Fl, Stat, for the same disability and the total monthly benofitc received from bof.h exceed ona hundred percent (100%) of the Participantsev rage ea,nper,s tian m-thll d d orlon urth Chan e 440 FI Stt exetading r evertisni the disability cpensio nbenefit shalithe icducod so that she total monthly ­­t ­6-d by the Participant d,,, not exceed ... h—dt,el ,—t (100h) of such bele, .-- M-nthlY —0, be no t—t shall a Par- �at debbhty� F­1 G..p .... tib, E,,,he-e . d.t h.abiht and 26% of Aver. e Final C—p ... bti.n f- off d,ty disability In the eve I of , I..p — —tke,e compensation settlement, end the disability retirement in—e payable h., the Plan e),.D be adj.,ted . follows: (A) The amount of the I..p — -fl—ea sh,fl b, divided by the Participant', remaining If, expectancy (i. ...the) as de—i-d -mg the actuarial .—.ptit- represented m the 1.et completed valuation of the Plan. (B) If the —b- obtained i. paragraph (-A) above, when added to the P,,L,ipe.t's monthly disability retirement income &,, the Plan, exeeade he P,,Ii,ip—le final monthly — mpti,. on the date f disability, the --t of the excess shall be deducted fi.. the P-itT—, monthly disability mtill,,.t i.w., f— the pens... plan, for the duration of the P-bap-t', —birtibg I,& expectancy as dk.le--1 i. p.,.graph (A) above. (C) If the —.b- obtained i. p-eg,sph (.A) above, when added t, ,he Participant's bbeelbly d,e.],ihty .1i,bb, —,- h— the Pl.., d.t., not exceed the Pp.,lidtet', fi—I monthly compensation on the d— of d..Ibhty, th-, eh.11 be no reduction of the P,,tiip,,V, d,bet,l,,y 6eneGe I— the ph,n. ARTICLE 9 VESTING If a Par icipant terminawe his employment with the Employer for reasons other than retr<oment, disability or death, the Participant shall be entitled w the following: (A) If the Participant has leas than the number of years of Credited Service epeaified in the Adoption Agreement - Setf- Jl, Termination of Emnlov n and Vestii, the Participant shell be entitled to a refund of his Aocumulaed Contrlbutlone with— interest. (B) If the Participant has the required number of years of Credited Service specified in the Adoption Agreement - Seotion J2, Tai%_gf EmQloy= and Vestine, the Pazticipant shall he entitled If a retirement benefit that is the Actuarial Equivalent of the Accrued Benefit oth—ise payable to him cowmen ing at the Participant`s otherwise Normal or Endy Raixement Date, and determined based on actual vests of Credited Service previded he does not elect to withdraw his Accumulaed Contributions end provided the Participant sa-- to hie Normal or Early RetiramaItDate- (C) A, veswd Participant of the Plan who is no longar ehpble w participaw I this Plan due w a change of employment, but who remame employed by the Employer in a class nos eligible w participate under this Plan. shall have his Accrued Benefit to the date of such termination under this Plan preserved, provided he does not elect to withdraw his Accumulated Contribaw- from this Plan. Such Accrued Benefit shall be payable at his otherwise Early or Normal Retirement Daw hereunder m —Id—, with the provisions of this Plan. (D) If a Participant who 1—mat- employment prior to his Party Retirement Dace or his Normal Retirmnent Date and -leas w withdraw Accumulated Contributions, is -1,s uently reemployed and again becomes a r Percici n this Plan. his Credited Service for of ve - and pant i purPos�s g b—fit accruals shall not include any periods of employment peior w hie xeomployment d— .,,1— h, repays t, the Fund h,,, Accumulated Contributions previously withdrawn with den- P-tieipaflt'. Fe,.PL.— day after �—. 1. ment, If I Participant repays the k,,pmg --t t. the Fund ,ith,n the pm—ib,d t—, period, the iltl,llt If the P--ip—t m his Accrued Benefit previously forfeited shall be --d m full and the P,,ti,ip,,t',, Credited Service ehallbe based on all p,,i,d, f—piy—t. ARTICLE 10 OPTIONAL FORMS OF BENEFITS (A) In litn of the --1 f- of benefit as ­,ifid herein, . Participants Early ,, Normal Retirement ­Oi.bffit Benefit .,y b, paid in a optional f.,, as ,,S-d by th,, P-i,ip.- -- - - - - Subject t, the approval of the Board o, it, lfilig-, the P-iaip-t may elect I. ,,-, the Actuarial Eq.i,.I-tdthe benefit otherwise payable t. the Participant in -,d.- with.- ofthe fallowing options. 1. Monthly -., payments for the life of the Participant. 2. Monthly inc. - payment f,, the lifi, of the Participant and after his death, . iomt -i .... ....... -xa1 b-,fit payable fit, the life of the 7`7 ant'� ifiBsi�afiiii bewfievoy omt p-i ... rq-1 to. 100% 7_M/ 66 213%, or 50% of the --t payable to the Ntti6p-t, 3. Such other amount and f,,, of mfin.- benefit payment that, in the .pmi.n of th,, Board, will .- the circumstances of tho fbtiroe Partj aifi- and the Tt-, (B) The P,,ti,ip..t, upon electing any option F--t to this Article, will di,6g- the joint pensioner nr b-fi6­ (., t. -6- the benefit, if ,y, payable -d, the Plan I. the event of Participant's death, and will have rite I-- t, th.,,g, such designation f... time t, time. Such &,,i­ti.. wilt name a joint p,.,i,,,, ., - or more primary lfi-i,fkmtios where ­a-bl, A P-- - h.... hiB-fi— �t -, ti �, If. P-ti--t h- i,l-d common tam athereafter change h, dtig-od B-figt­ t Li- but -y only cha -twi , ­S� t v;t this ps. Uen,, Chan If , Par tiente.t', inint P—m., in ,Gordan ,, with this Article, ,deq,,eni—d to to E—.1-i of the I --I f thn P­ieninnt'thnn ,tent benefit at tiro time ehen ne, --t f., a 11 be —de in —ili— d bethI B.nid If Trustees and on I be filed with the B ... d fT—I, In thn I -It that .I des mated Bellfile——i—Il Part ci h benefits e ..—e�­he lbee— If thed-h fthP-mpt b,.ttehimt—t h,ll III ,id_ p,,,id,d i (C) in the c— that ne 4BBhhed hemethe seetbhewfhanni�, ehe114a'gayeblein Reeefdantea with. Seethe 11, (D) Benefit payments shell be .,de ..d- the option elected in —id.nee with the p—i-- If this Ankle and ih.fl be -1,j- t, the following limitations. 1. If s P,,t,,,,a.t die, prior to his N­1 Retirement D.b, or Early Retirement Ihit., lit, beneficiary will receive a benefit paid Ind., the normal fit— If b,,,,fit in a—id—e with Article 7, Pr,-Re[iremepc Death. 2- If both the retired Participant and the be—flemi, (e, designated by Participant die btfiem bill payment I. hIen effected under any option providing f,, payment. f,, , period ent-I and life thereafter, the value If the renaming pey,,,,.t, ahall bI paid in such other amount and f.,. If ,ttwee,ent bInefit payment that, in the opinion If the Board, in — the of the Rai— and ib, 'r-tt ta accord.,,,, Article 11, meted3_ IE the des Beneficury for Benefinar sj io,,, before the P--a— —i--, under the Pl— the Pti,n elected t a co of tine a [rm and wffl be ... ahh,, t, the Pare his .s if the election bad — been .,d, —1— ­—i— of this Article or a w B—fi,­ .,i., t� hi�,to ement 4. If . Partin tintontint es mnlny­t beyond his Normal Ret et ent t I. then —fth, Normal RetaLDt,ceded i. the Adoti..A—--ddi,.—o his actual retixementne.d xhile .—thl, —i,-- —.— p.y.—b, —11 bg Madenti--t benefit lb, Paid, nd,, th� Pti�. to . L—ftim (,r &-—— fi,) acim—d by the P—wi ... t m th,. out o on is ­v,-d . d the P—m—t had reined under lhg gptign .. �h� d�b, g. ,hjch hl, d-th d. (D40 Unless otherwise a11,,,,d by la, a P,,.p— .,, of change hie benefit payment option after the d- of cashing or depositing hie first lb —fit h-k. F �otwithstandin an hin herein m the wnGa [he board in its discretion elect t make n I — b, . p—li-- — n --m—, eventBenaSda in the thg the month) , b—fit amount is I—, then one hundred a.11., (SIOM the t­1 -.-,I -1u f Ih,, —mi- ­th), m,— ppygnenu to be eid doe teed five ehousand dollars .000 A. such ­--t ,d, tg ... p—.. --ant tote P� ...... d ­f,, d y- the B.-d b, th, —di- -ml— -discharge .f all, .1bl—l—, —d, the Plan with roeard to such Partinoont and shall not b, subject t. —i— by --, h,f h,ll bfI ­b�A—,,d ARTICLE 11 BENEFICIARIES (A) Eavh Participant may, oa , form provided for that purpose, signed and filed with the Board, designate a beneficiary (or b—fb,iaciea) m receive the benefit, if any, which may be payable m the event of Iris death and each designation may be revoked by —1, Participant by signing and filing with the Board a nea designatiomof beneficiary form. The o,m,bt of a participants benefieia to any change of beneficiary shall not be required. (B) If a deceased Participant fail, to name a beneficiary in the manner prescribed m eabSeection A, or if the beneficiary (or beneficiaries) named by a deceased Partcipant predeceases the Pertieipeet, the death benefit, if any, which may be payable under the Plan with respect I. each deceased Participant shell be paid es f,W—by the Board to the estate of the 2-i,i... t and the Board ,�.�...ante'-carat ro discretion ma diced that khe oommated value of the remainin value of the ----_ ning,monthly income benefits be naid in a lumn snm, An ment made roan so on tis Sectishall o crate as a cam late d-ha< of all obl-tio- under the Planwith re and to the deceased Partic'oant and a th pep sons with riehts under the Plav and a¢gJlpot be s ea teat to review b e ba sh 1 1 e fi.al, b' ce talus eII n s o 'nterested her node, ARTICLE 12 CLAIMS PROCEDURES tThe Board of Teusfees shall estabhe edeSt ad.inie .&, claims proced— e..4he-Bea= , utilised i aaes n ests 'clai at— .,hA .effect the enUta W nj ht of a n S d.i.knf-L inclnd'ne Partct, Ret Beneficiaries - an n e� clad b a decision oftW Board. ARTICLE 13 REPORTS TO DNISION OF RETIREMENT Each yen, by no later than March 15th, the Roard .hall file an ?nnual Rr T, t with the State of Florida, Division of Retirement, end the Employe, wntaming the dooumenta and info -Ron contained in Seotions 175261 and 185.221 Florida Statutes �Fl­ dg�� Ih ;<. h the ..seta at ��.am -Fuxd mb.. - h.-R—Saeg ARTICLE 14 ROSTER OF RETIREES The Secretary of the Board shntt keep a e—d of all porsonn rocaivb,g n benefit of cted Paraaioants who will r x tutor vested benefit under the provisions of this Plan in which it shall be noted the time when the benefit bocame payable. Additionally, the Secretary shall keep n record of all Participants employed by the Employer in such a manner as to ehmv the name, address, date of employment and date —th employment is terminated. ARTICLE 15 BOARD ATTORNEY AND PROFESSIONALS The Board may employ independent Iegal munsel at the Fund', expense for the purposes contained herein, mgether with ...h other professional, technioal. or other advisor. as the Board deems necessary. ARTICLE 16 MAXIMUM PENSION 16.01 Bas is Limitations N—ih, 't -- --,h--.g to the eantrary and S-bj— t, the adjustments he,.i—ft,c - forth, the ---- --- of ---1 lolh..e.1 -- payable with respect to o Participant under this Me, s),A not exceed theleo. (A) —the d,H,t amount as ..y be allowable for any -Iod- y... pursuant t. §415(b) of the Code, as edie.ted in such calendar year f., mo—.s i. the ,,,,t of living i. ,—d— with R,guI.-.o i,,,,,d by the S-tot­ of the Tt—U —d- §415(d) of the C.d­ the ealeadae years d�reng thioh thoot— F,, p.rp,000 of applying the above limitzticn. benefits payable i. ..y hotm ether than a straight life --by with no —11­ bo-fite shall be adjusted. ore provided by Treasury Rog.1tti— so that such boeo5t, too the Actuarial Equivalent of a straight life enmity. F,rpeop— dthio 9—�_h�l� the fioll—hogb—efits shall not be h,k— into account (1) Any .-Hl-y benefit which i, not d—tly related to reeirement ie.", benefits, (2) Any .,he, b-efit not to,—od under §4Mffi)(2) of the C.d. aed Treasury R­I.1-,,, thereunder . be lake. into --.1 to, ­eos of the Imit.h.. f §415(b)(1) of de, b-4a Code, 16.02 Other Dofi,,od Be —fit Plans The limitation of the, Article with respect w any P-ti,iwo,l ho a, ae, time hue been . Po,6,ipoel in aay other defined benefit plan (as defined in §4146) of the Code) maintained by the Employer shall apply as tithe toeal he -fits payable under all defined benefit plans in which the Pa ,,ipoat has been a Psrtiapant were Payable from as Plan. 1603 Ad'n efts in L'mitations (A}-- - -. ttaepIty'r a, an rMhtnu f,ranua,-(.s -- -- -- Plan he any �.rneiunt ,bo �. t,. the Reshoreled uaA_-tom m. � �Ehdr� bR Pa A In the e nt the Partici ant's retire nt benefit beco able before — two 82 Vth m of � ual retirement ioe me limitation sesibed 6 this A ddh,11 be reduced in ac with Re lati ns issued by the Sec tof the Tre r s ou,4�f the Code but notlese than ee — fivethousand doll,, ($16000 if the benefit beeias_Alt ac_after — fift, five (11) 1, the - t the Participant's ue ¢nt 75 ollbe ftb 000before eefiftyfivo(66) the se entfi y ve thousand dar l$.)vble bef Iunimtioa_eha11 be reduced from q —ft ffi- MILL a000rdanoe with Re latione issued b the Sear t of the Treasur _ to the vx sro s of 64151b1 of the Code (B) In the enf the P rt s henefit is based o t le.et fifteen (15) s of Credited Sery e the ad ue o��ded log in A. above shall not —11 jC� The redactions v ovfded for in A abov h 11 b P able fo d' b'I'ty b 6t'd t d' b J' nd p e rer re t death benefits. (D) I h th P t' t b fi b bl k t five(651,for a e of di—ti,,mg whether this benefit meets the limitr3o set focch i_u Seal.. 16 herei each benefit shall be ed'u t d that it isnaUuar'ally a ivaleat w the,benofit beeinn e at wee sixty 5ve fG5) This ad'ue ent shall be made ueina en assaAledlnteree rate of five ve 5% end shall be mad, in aocordan with re let mul aced brclhe Seoretary of the Treasury or his dele—at (E) Le. than Ten (10) Years of Service. The i u e a n em t bffix v eble under th s Article Per who has mlet,d lees than ten 1 aare o f Creditd Sery m -th the Em to er II 6 tea nut e red und,, subsection 14 this 4rticla multiplied by a &action the numerator of whioh 's the nu vber of the Paiticint ears of Cmdited Se ,, and th,, d---otof whi,h i,, i 101 Tha reduction ovided for i0_thi9�9H.h9,PAS)9R hA� not be sooliceble co ,Ibtlitvb ft retirementdeath benefit ffl Tep Thou and Dollar SI0000 Limit N tw'th tandine the foreeoine the retirement benefit pav,ble with respect t P t t h h it deemed not t coed the limitations set forth in this Article if the benefits a able with respect to such Partioi vder this PI and and r I ocher aalified defined benefit lens to which E l tcb d t d t n th A,-nd_d95h,1_100001 for tho pphvable Plan Year and fo, PI Y d th E 1 1 t _ny_tima_inaintained a ualified defined c cribat lap �n hick th P ant d je)__ Reduction of benef te, R d f b fi nd/or contribat ons p Il plans where a i td 6hall be amour lished b firer redacin the Pnrtiei is b nett der an deli ed benefit pl.- i. which Par_ i i --ti i �-d-h 1� QCC � Mh �-,& f­t -h pj he t� �� � --t �—fl . d _-- ---- -� -hA� - - - .d themaft , �--h o t �hEbeA --,cd �b, the Board -d thlan ad n nistrato, f -& other ola i8 -d net bS- Ild"'i- ,11,,,,tmg —.g, fd6t,r for darned �contrib-ti n 1- i, which the P-tk - a,-i -d -1, md., 1,-fi-I with ­tto th� such es shall b, -qblihad by the B.-d ..d the 1.. administrator k- -h �.Ih I- L -& i. . different -- ,.d �Ith—t of tho Board and the plan administrator (H) Costof Li,ma Adimst-nt, Th, limit,tion stated h-in shall be d .-d to the time -- of by the S,-- fth, Txeas euant to 4416f-d) ofthe Coda (D Addis anal Limiter'.. on P-i- B-fil., N-ilha-d­ -thine L-in t. the contrary (1) lhu n.,..l r ment benefit ­,ens��Retiree . b,,,.,, , P.,tid -tPlan�f tl- - - -- Jan--.- 1980, -d wh. has - --i .. 1, -,JjUaL�dj�_­h Pl­­h_gn n.t .,-d WO —n, ofh , , m C.. --;- nethwg -lain,d m this Altille shall .6-ant -IeAefil� , . �-- atrb-ble t. ..t f lm.� i--dj. (2) no Par ant of the Pla be allowed to raceye n re ant whole based b' 'fi' �hd' ith hih 'h� pt ­gq t, �ti__, � al_d, ., ill -- i �lh� Mtw, �dffa,en mnlov _ yet rem gLa T� « eat x does a tl t timeal se U,it be fits o &deral bem�-rgt exig Chi , 6�, T'tle 10 U S Coda, Wkw shall be applicable deEex�irzed. �h�Fedesakk�itasienss5seE-{eeN�-d••. `. _ __�L--03;-B2;-asd8�-e€ ARTICLE 17 DISTRIBUTION OF BENEFITS N.-itba-d,,,g any other provision f that Plan to the —t-, . fttm of retirement —,, payable from this Pl., th.11 -fiOy the M—mg —d,ti— (A) If the -i-- income is payable before the Participant's death, (1) It shall either be iitttib,t,d or commence t, the P-wipnot - 1—, then April I of the .1—d- year fallowing the I.- ,f the calendar year m which the Participant attain., ­ seventy and —h.lf (MA), or tie I—d- I,- in whwh the P,tti,ip,,t m6­ and, (2) the b.-fit shell be paid over the life of the Participant or over the hf-- of the P,,tiip,,t and designated b—fti,,y shall b, paid .... the period extending not beyond th,, life ­—­ of the Participant and designated b—fiti,,, benefit payments have —.—d I . accordance with the preceding paragraphs and the Participant di,,, btf.e hie entire mt,— m the Plan h,, been distributed, the t—mi.g pttli.. of each interesa i. the Plan shall b, distributed .. 1— -idly than ..d,, the f.— of distribution i. effect at the tuna of the Participant's death. (B) If th,, Participant's death ocoure before the di-ibnti- of hi, rote— i, the Plan has .--d, the entire ml—t i. if,, Plan shall bo distributed within five (5) y— of the P-kip—', death, —1— it it w bo distributed m accordance with the bil—mg .I,, (1) The P.,ti6p.,,V,, ,.ai.i,g interesC i, the Plani,, payable to his designated b—fi,i,,,. �- (2) Tha r.maining interest i, to be distribuw.n over the life of the designated beneficiary over a period not extending beyond the life expectancy of the designated beneficiary; sad (3) Such distribution begins within one year of the Participant's death utd— the Participant's spouse shall receive tba remar ing interest in which case the distribution need not begin bef t, the date on wblch the Participant would have attained age p,ve t dand I. half (70 ,), and if th, spouse dies before the distribution begin,, this Sees Article shall be applied as if the ,pou„ were the Plan Participant. sum present -lue is not mom t4,, Imp-,nee-e .'. a (C) Dit- r i 'bl 1 v rDi—ib.fi— (1) This paragraph applies to distributions made on or after January 1. 1993. Notwithstanding any provisions of the Pl.rr to the contrary that would otherwise limit a distributee', (as defined belrnv) election under this paragraph, a distribute. may elect, at the time and in the manner presoribed by the Plan Administrator, to have any portion If- eligible rollover distribution (a, defined below) paid dirsetly w an eligible retirement plan (as defined below),pecified by the distributee in a direct rollover (as defined below). (2) For purpos„ of this paragraph, the following terms shall have the following m.auings: (i) An `eligible cello... dietributon' is arty distiibuticn of all of any portion of the 1,1— to the credi�, of the distributee, except that an eligible rollover distributon dose not include: any dl,rribunon chat r, one If a -- of eubtantially equal periodic (no qu.n mad. for the life (or payments t les, Cr, tly than annually) life expectancy) of the dlstributoe or the joint Eves (or joint life expectancies) of tho distributes and the di-ibutee's designated beneficiary, or for a specified period of ten yearn or more; any distribution to the extent each distribution is required under Code Section 401(a)(9). and the portion of any distribution that is not included in gross income (determined without regard to the oxcluawn far net unrealiwd app—mti— with respeot w employer securities). (il) An "mhgible retirement plan" is an individual retirement account described m Code Section 408(a), an individual retirement annuity described in Code Section 408(b), an annuity plea described in Coda Section 403(a), or s qualified trust described in Code Section 401(a), chat ascepts the distrbutee's eligible rollover distribution. However, in tho — of an ohgible rollover dist bution to the surviving spouse, mr eligible retirement plan is an individual mtirement account or individual retirement annuity. (iii) A "distributes" includes an Employee or formor Employee. 1n addition, the Employee's or former Employee's surviving spouse is a distributes with regard to the interest of the spouse. (iv) A "direct rollover is a payment by the Plan to the eligible reti,—, plan epecifind by the distributes. ei6hen-6M+-R'uBteeae�kE$Oar . regv,to�ed mail addressed to his last known a4bbeo. -f Batt'if —the —aFa vm�aefioi.r. rk4ed. The Empleyer rrill 000—lho—r� ARTICLE IS MISCELLANEOUS PROVISIONS 19.01 Mt .... t ofp—i.ivants in Pexsiea Pl.. At no ti­ prior t, the -ti,,f.di— of all lt,biltm ­d,, the Plan with —p— t. P-1,,.— and Bheneficiaries, shell any p- of the oorpus or men— of the Fund be used for or diverted In any ,­— other than for tht,i, exclusive. bereft N, plan --d,— or .,di..— shall be adopted by the Employer which shall have the eff- of —1.6, the then --d m ... d b—fits of P-w,-o or Paxticipanre' bt,t,,&i-iss —d- the Plan. 18.02 Sum nary Plan Descriptions The S—., Pl.. Description ..11mmg the provisions of this Plan — designed only . give . brief d—ipti.n of the benefit provided —d d.- not m&.& all the p—i,t—, or —1.i.- i. the Plan Document. If the S—.­ Plan Description dmg—, with the Pl- h—t,, m any way, the Pl.,, D .. —,t -H g­- 18.03 Gender & and Number Wherever any —& are used i. the .—It- feminine ., .-t., gender, they shall be construed as though they were also used m another p.d,, in all -- where they —Id apply. Whenever any ­d, are used herein in the singular or plural form, they shall be construed es though they were also used it, the other f— in n11 cases ,,h— they would apply. I.- 11—di— ..d Rgf-­,,,s All beadmm­­d e fe . , , I . g n ct i. — t I " 1,s e, m thin phare — �--d for co e e only end AWI the t—u thi,, pl— D­fLt' hightht have been , b­,dMgja t, the Plan adot,d b, the E-1— b �-d-- end ­ bs-fit --- which am' hl be —de la t f—, shall . I and shall ,at apply to P,,ti6p,,ta who a, ,h. re or to the effectived—f . ig sugh bgngfitri ante -1g,a ugh .,,Uhs,am olntion ecifi 11—W, —t- 18.06 Procedure f., Unclaimed B..sf-,t If the Board E.ft­t or B-efa tI,, ga Plan t. -th. because the ik�t� not be a attained - - - - - - ffiat —1, benefit and all fia,lh­ ba.,ft. wit as ��t t. �-ahl— h.0 b� forfeited and A fialaht f-ths , e t �th—.f shall tem,.,,t ARTICLE 19 REPEAL OFR TERMINATION OF PLANS (A) This Plan and Fund may be modified, terminated, or amended, m whole or in part at any time by the Employer, provided that if tine Plan or any mb,,q.— ordinance or r,wl.tim, shall be amended or repealed in its appfeatim, to any person benefiting hereunder_ the amount of benefits which at the time of any such alteration, amendmee4 or repeal shell have a,, ,,d to the Pattwipam or beneficiary shall not be affected thereby, except m the extent that the assets of the Fand may be determined to be, inadequate. (B) If this Plan shall be repealed, or if contributions to the Plan me discontinued, r if there is Hafer. m sohdatee. of e e ur s se font ovehm it Chao r 121 Fl. Stet- the B erdeshah contaim, to admmieter the Plan in accordance with the pro rmmrs of this Plan for the sot, benefit of the then Participant's, any benefioiaries then receiving retirement allowances, and any future p,n,,, ,etitled b, r,wi,, fnture b—fitm In the event of e,pea4 tarmhation or mean ant diseontin_ceof contributions due to transfer m sofdmion of e e nits r fctiy unne,—4f-,mhetbm mte-the - theretshall besfell —mg (100 0) ofb,mm,. accrued to date of repeal end the assets of the Pl,n shall be allocated in an equitable manner to provide bemefits on a proportionate basis to the persons so entitled m —,dance with the provisions th 4.. (C) The mIlm, mg.ahall be the order of priority far purpos,s of allocating the. m of the Plan . of the dote of repeal of thus Plan, or if contributions to the Plmr are discontinued with the date of such discontinuation being determined by the Employer. (1) Apportionment shall first be made in respect of each retired Participant recei ing a retrement or disability benefit hereunder on such dew. eaoh person remiviag a benefit on such dace on amount of a retired or disabled (but smm demased) Par icipant, and each Participant who has, by such date, become ehgibl, for normal retirement but has cot yet retired, an amount which is the actuarial equivalent of such hxnefit, based upon the actuarial — .ph— in use far purposes of the most recent actuarial valuation, provided thatif such ,,It value be less than the aggregate of such amounts, such amounts shall be proportionately reduced so that the aggregate of such reduced amounts will be equal w such asset value. (2) If there be any asset value remaining after the apportionment under paragraph 1, apportionment shall next be made in respeec of each Paricpant in the service of the Employer on ench date who has completed It least ten (1O) Years of Credited Service end who is not entitled w au apportionment tinder paragraph t_ in the amount rmq.irod w provide the Actuarial Equivalent, as dese bed in paragraph 1 above, of the acaraed normal retirement benefit, based on the Credited Service and Salary as of such date, and each vested former Participant thou entitled w a deferred benefit who has not, by suoh date. begun taint ing benefit payments, in the amount required to provide said Actuarial Equivalent of the ..creed Normal Retirement Benefit. provided that, if such —i ing asset value is less than the ,­gatof the amounts apportioned hereunder, such latter amounw shall be proportionately reduced so that the aggregaw of such reduced amounw wW be equal to such wmaining asset value. (3) If [hare be say asset value afwr the aPPnder paragraph 1 end 2 above apPnmonment shall be made to eflpeet of each Partioipant in the servtm of the Employer on such date who is not entitled to an apportionment undm ba 1 and 2 above in the amount 1 to Pertici is ' PnragraP aqua Pan Accumulated Contributions, provided that, if such rematning asset value be less than the aggregate of tho amounts apportioned hereunder, such I.- --a shall bo proportiouawly reduced so that the aggregate of euch reduced amounts will be equal w such remaining asset value. (4) If there be any ae- value remat ing af— the apportionments under paragraphs 1, 2, and 3 A—, ppb,ti..,,,t shall lastly be made in respect of each partioipant incbuded hi paragraph 3 above to the extent of the Actuarial Equivalent, as described in paragraph 1 above, of the accrued Normal Retirement Benefit, less the amount apportioned in paragraph 3 above, based on the Credited Service and Average 44ext§Ig£ele Final e Comoe s of such date, provided Ibat, if suoh remaining asset value be I— thanthe aggregate of the amounts apportioned hereunder, such amounts shall be reduced so that the aggregate of suoh reduced amounts will be equal w such remaining asset value. (n) In the event that there be asset value remaining after the full apportionment specified in paragraphs 1, 2, 3, and 4 above, snch excess shall be returned w the Employer, less return of the State', contributions to the State, provided that, if the excess e less than the total contributions made by the Employer and the State w the date of termination such excess shall be divided proportionawly w the t-I contributions made by the Employer end the State. The allocation of the Fund provided for in this subsection may, a, decidod by the Board and the Emplo bo carried out through the parch,,- of insurance company contraot, to provide the benefits dewrminad in accord—, with thin subsection. The Fund may be di -abated in one sum to she persons entitled w said bevefite or the distribution may be carried out m such other oq.it,bb, mannm as the Board and tha Employer may dr t The Trust m y be —ti—d in existence for purposes of eabsequeut distributions. (6) Aftec all the vested and am,md benefits p—ided heceander have beau ,id and after sll other h.bilitias have been satisfied, then and only then, shall any remaining funds be reverted to fthe Employer. ARTICLE 20 EXEMPTION FROM EXECUTION, NON -ASSIGNABILITY The pensions, annnaies, or any other benefits accrued or --mg to any pec.on corder the prwi.ion. of this Plan, tho Aocnm.lated Contributions and the asset. rn the Fund .tasted ender this Plan nee exempt from d.y state, county or municipal tax of the stars and shell not be s,bieot to execution, attachment, garnishment or any legal process whatsoever and.hall be—.,g..bk ARTICLE 21 FORFEITURE, OF PENSION: MO CTION.4ND FQREE TORE Any Participant who is —i-d of the any of the 611owing oM.— committed pxi.r to xetirement, or whose employment is terminated by xeaso. of his admitted commission, aid or abetment of tho following specified off--, shall forfeit all rights and benefits ..der this Fund Pla. e Dept fox the xetuiv of his accumulated contribations as of the date of b—inati-, (A) Specified offenses axe at follows: (1) The committing, aiding or abetting o£ an embezzlement of public funds; (2) the committing, aiding ox ab—.g of any theft by a public officer .r employee from the employer; (3) bribery i. connection with the employment of a public officer or employee; (A) any felony specified in Chapter 838 Florida Statures; (5) the cmmmitting.f an hnpeachable offense. (RIM tThe committing of any felony by a public officer ox employee who willfully and with intent to de&aud the pubhe or the public agency, for which he acts ox m which he is mployed, of the right to iec — the faithful performance of his duty as a public officer or employee. real(zet or obtains or attempts to obtvin a profit, gain. of ad ... tap for himself .x for some other pert.. through the use or --pted use of the power, rights. privileges, duties or position of his public office or—ploymont position. M(MConviction shalt be defined as follows- A. adjudication of guilt by a wort of wmp.tent jurisdiction; a plea of guilty m a n.I. c..—der,: a jury verdict of guilty when adjudication of guilt is withheld and tho accused is placed on probation, or a conviction by the Senate of an impeachable fl—I. Mn Court shall be defined as fo.— navy state or federal court of —pat, juriedicEien which i, e ,i ing its juri,ffitt— to consider a proceeding involving the alleged mmml„ion of a specified offense. Prior W f-fititim, the Board shall hold a hewing on which notice shall be given to tho Participant whose benefits are being considered for forfeiture. SIM Participant ,hall be afforded the right W have an attorney present No formal rules of evidence shall apply, but the Participant shall be aforded a full opportunity to present hi, cas against forfeit. — CD) Any Participant whe has received benefit, from the Plan m excess of his .cumulated contributions after Participant's rights were forfeited pursuant W this section shall be required to pay back to the Fund the amount of the benefits received in excess of hie accumulated contrbutione. The Board may implement all Legal action necessary W recover such funds. (El It i nnlawfut fora on to willful] and 1— i I make ma...1h., ee W be de , .sist ro whh or o her W make or uto be made v fakes Gaudulen nislead'n ral or —d— s n o v.ithhold or,,meal mnteria_l,inf. atri. to obtain nv benefit Avm the Plan (F) o 0 o ate, oa a o (E) --its a misd--., fth, fint de a unit abl a vided in S,etion 775.082 or Section 775.088 Florida . S—I't fGt In addition u, aIlcabh, cr mal .—eh , I.— —,tt- for a violation described in s n h a Partiei not or BeneficiaoC tho Plan u­...d.LS.FJF aPa]9f[51�e.jj9R_5�,.4R re red to fm%t the rieht W rew �Hb—ht. to w ii h th eL , —.1d b, th, b, —titld .,d,, Uhs Ph�nFc, tha—.,ay.3�h—LQI .. - . � ay-- is withheld. ARTICLE 22 FENSION VALIDITY The Board ­h.H �b.,-h. h. , h h eh.0 b—td,­h­_be— lld ll.de; a—­P-- hg­­,d o obyainett nr--I, f .. d,1-1, y —11H—f- — Th. Board i ma—, y—gh h­hqk--gm�U—d�e _ der -il� —ti- 1— 11 cl- I I h�­gft-�—t d �—i, found w be --g—, fraudulent . �11� .1 for a o nelson who has he �eWf-e under anv onor or exisci� law been or who shell hereafter under this Plan be vet r itle ally classified. An under ants ,h.11 be Board. ARTICLE M 23 SIGNATORIR' This ag---t is etPecr.ive an the Ifilt, pllifi,d m the Ad,,pti.. Ag,,,,,,—,,t C zap EMPLOYER AUTHOR17E'D SIGNATURE rnm EXHIBIT k MASTER TRUST AGREEMENT (INCLUDING INVESTMENT POLICY) E r- EXHIBIT B ACTUARIAL EQUIVALENT Actuarial Eq.lvalent shall mean a benefit of equivalent current value m the benefit that would oth,mise h— bean provided cp the Participant. At the time d calculation of the actuarially equivalent bane fit, the calculation shaLL not include possible future benefit increaeee which have not been adopted by an Ordin— or Resolution and which are mt in effect as of the calculation date. The calculatlons will be performed using the 1988 Group Mortality Table set back two years avd the rake tf mterest which i.xapeeified in the preceding n tuarial valuation s'r-�r-tm-perms ti as others a star=d a a aria) study.