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2003 minutes (8) iI" Paula Weeks ... Her parents, brother and some of her closest friends join Paula Ann Weeks this evening. Her parents are Paul and Ann Weeks and her brother is Paul, Jr. Paula was born in Panama City, Florida and raised in Jacksonville, Florida where she was class vice-president in High School. Paula graduated from Valdosta State University with a Bachelor of Fine Arts in Organizational Communications where she was a member of Alpha Delta Pi Sorority Paula is currently an Account Manager with Contour Marketing Services, a division of Interpublic Group. Prior to joining Contour Marketing Services, Ms. Weeks served as Corporate Sales Manager of Flight Station, the official company store of Delta Air Lines. She led Flight Station to the most prestige award - Delta Air Lines 2002 Supplier of the Year. ~:# Previous to Flight Station, Ms. Weeks has extensive sales and marketing experience with Reebok International Ltd., The Rockport Company and Carnation Company (now Nestles) throughout Georgia, Florida, and Alabama. -., Besides her business accomplishments she has a strong commitment to the community. She was involved with the Aunt Fannie's Cabin celebration and currently serves on the Parks and Recreation Commission for the City of Smyrna. She serves on the Board of Directors for Valdosta State University Alumni Association and has been a Big Sister for P.A.C.E. a nonprofit organization for troubled young women. Paula's outside interests include tennis, softball and working on her Smyrna historical home on Lee Street. She turns 40 on September 2nd! "" ~ '-' - COUNCIL OATH OF OFFICE I, Paula A. Weeks, do solemnly swear that I will well and truly conduct myself as Council Member of the City of Smyrna for the ensuing term, that I will faithfully enforce the charter and ordinances of the City of Smyrna to the best of my ability, without fear or favor, that I am not the holder of any unaccounted public money due the State or any political subdivision or authority thereof, and in all my actions as Council Member act as I believe for the best interests of the City of Smyrna. So help me God. la A. Weeks uncil Member - Ward 4 Sworn and subscribed to before me on the 18th of August, 2003. - - j ORDINANCE No. 2003- 27 - AN ORDINANCE OF THE CITY OF SMYRNA, GEORGIA, TO AMEND A RETIREMENT PLAN FOR THE EMPLOYEES OF THE CITY OF SMYRNA, GEORGIA IN ACCORDANCE WITH AND SUBJECT TO THE TERMS AND CONDITIONS SET FORTH IN THE A TT ACHED ADOPTION AGREEMENT AND ADDENDUM, THE GEORGIA MUNICIPAL EMPLOYEES BENEFIT SYSTEM (GMEBS) MASTER PLAN DOCUMENT, AND THE TRUST AGREEMENT BETWEEN THE CITY, THE BOARD OF TRUSTEES FOR THE RETIREMENT PLAN, AND GMEBS. WHEN ACCEPTED BY THE AUTHORIZED OFFICERS OF THE CITY AND GMEBS, THE FOREGOING SHALL CONSTITUTE A CONTRACT BETWEEN THE CITY AND GMEBS, ALL AS AUTHORIZED AND PROVIDED BY O.C.G.A. 47-5-1 ET. SEQ. BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF SMYRNA, GEORGIA: - Section 1. The retirement plan for the Employees of the City of Smyrna, Georgia is hereby amended as set forth in and subject to the terms and conditions stated in the following Adoption Agreement and Addendum, the Georgia Municipal Employees Benefit System (GMEBS) Master Plan Document, and the Trust Agreement between the City, the Board of Trustees for the Retirement Plan, and GMEBS. Section 2. Except as otherwise specifically required by law or by the terms of the Master Plan Adoption Agreement, the rights and obligations under the Plan with respect to persons whose employment or term of office with the City was terminated for any reason whatsoever prior to the effective date of this Ordinance are fixed and shall be governed by such Plan, if any, as it existed and was in effect at the time of such termination. Section 3. The effective date of this Ordinance shall be August 17,2003. Section 4. repealed. All ordinances and parts of ordinances in conflict herewith are expressly - ORDINANCE No. 2003- 27 - Approved by Mayor and Council this 18th day of August, 2003. Attest: A. Max Bacon, Mayor rid_I ~~ () Wure6- an D. Hiott, City Clerk City of Smyrna AP7~ _ Scott A. Cochran, City Attorney City of Smyrna _ The terms of the foregoing Adoption Agreement are approved by the Board of Trustees of the Georgia Municipal Employees Benefit System. IN WITNESS WHEREOF, the Board of Trustees of the Georgia Municipal Employees Benefit System has caused its Seal and the signatures of its duly authorized officers to be affixed this 18th day of August, 2003. Board of Trustees Georgia Municipal Employees Benefit System (SEAL) Secretary - 2 , -- ~ ....., GEORGIA MUNICIPAL EMPLOYEES BENEFIT SYSTEM DEFINED BENEFIT PLAN ADOPTION AGREEMENT for City of Smyrna GMEBS - Defined Benefit Plan Adoption Agreement (Rev. 8-20-03) .tI TABLE OF CONTENTS ~ PAGE AN ORDINANCE...........................................................................................................................l ADMINIS TRA TOR........................................................................................................................2 ADOPTING EMPLOYER ....... ............... ........ .... ..................... ...... ...................... ..... ... ....... ..... .......2 GOVERNING AUTHORITy.... ............................. ........................... ....... ..... ..... ... ..... ..... ..... ..... .....2 PLAN REPRESENTATIVE..........,................................................................................................ 2 PENSION COMMITTEE................................................................................................................ 3 TYPE OF ADOPTION.................................................................................................................... 3 EFFECTIVE DATE........................................................................................................................ 4 PLAN yEAR................................................................................................................................ ...4 CLASSES OF ELIGIBLE EMPLOyEES.................. .................................................................... 5 ELIGIBILITY CONDITIONS...............................................,........................................................ 6 ..... HOURS PER WEEK (REGULAR EMPLOYEES)....................................................................6 MONTHS PER YEAR (REGULAR EMPLOYEES) ................................................................. 7 WAITING PERIOD........................................................................................................................ 7 ESTABLISHING PAR TICIP A TION IN THE PLAN .................................................................... 7 "-" CRED ITED SERVICE.................................................................................................................... 8 CREDITED PAS T SERVICE..................................................................................................... 8 PRIOR MILITARY SERVICE....................... .... ........................... ......... ..... ............. ..... .............9 PRIOR GOVERNMENTAL SERVICE ................................................................................... 11 UNUSED SICKlV ACA TIONIPERSONAL LEAVE ...............................................................12 RETIREMENT ELIGIBILITY. ......................................... ................... ....... ............ ......... ..... ..... ..13 EARLY RETIREMENT QUALIFICATIONS ...................................................... ...................13 NORMAL RETIREMENT QUALIFICATIONS.................................................................... .15 ALTERNATIVE NORMAL RETIREMENT QUALIFICATIONS ...................................... ..16 DISABILITY BENEFIT QUALIFICATIONS .................................................................. .......17 RETIREMENT BENEFIT COMPUTATION ............................... ......... ......... ....... ..... ....... ........ ..18 MAXIMUM TOTAL CREDITED SERVICE ..................... ....................... ..............................18 MONTHLY NORMAL RETIREMENT BENEFIT AMOUNT............................................... 18 MONTHL Y EARLY RETIREMENT BENEFIT AMOUNT...................................................21 - 1 - ., ~ ~ ,..., MONTHL Y LATE RETIREMENT BENEFIT AMOUNT......................................................22 MONTHLY DISABILITY BENEFIT AMOUNT ....................................................................22 BENEFIT CAP FOR ELECTED OFFICIALS ..... ..................... ............................ ...................23 DISTRIBUTIONS FOR THOSE WHO REMAIN IN SERVICE AFTER NORMAL RETIREMENT......................................................................................................................... . 23 COST OF LIVING ADJUSTMENT .............................. ....................... ..... .................... ..... ..... .24 RE-EMPLOYMENT AFTER RETIREMENT....... .......... .......................... .................... ..... .....24 TERMINATION OF EMPLOYMENT BEFORE RETIREMENT; VESTING...........................25 PRE-RETIREMENT DEATH BENEFITS................................................................................... 26 IN-SERVICE DEATH BENEFIT. .............................. ........................... ....... ........ .......... ......... .26 TERMINA TED VESTED DEATH BENEFIT ....................................................................... ..28 EMPLOYEE CONTRIBUTIONS................................................................................................. 28 EMPLOYER ADOPTION............................................................................................................ 29 - 11 - AN ORDINANCE ., ., An Ordinance to amend a retirement plan for the Employees of the City of Smyrna, Georgia in accordance with and subject to the terms and conditions set forth in the attached Adoption Agreement and Addendum, the Georgia Municipal Employees Benefit System (GMEBS) Master Plan Document, and the Trust Agreement between the City, the Board of Trustees for the Retirement Plan, and GMEBS. When accepted by the authorized officers of the City and GMEBS, the foregoing shall constitute a Contract between the City and GMEBS, all as authorized and provided by O.C.G.A. 947-5-1 et seq. BE IT ORDAINED by the Mayor and Council of the City of Smyrna, Georgia, and it is hereby ordained by the authority thereof: Section 1. The retirement plan for the Employees of the City of Smryna, Georgia is hereby amended as set forth in and subject to the terms and conditions stated in the following Adoption Agreement and Addendum, the Georgia Municipal Employees Benefit System (GMEBS) Master Plan Document, and the Trust Agreement between the City, the Board of Trustees for the Retirement Plan, and GMEBS. [Ordinance continued on page 28] ~ .., GMEBS - Defined Benefit Plan Adoption Agreement .., GMEBS DEFINED BENEFIT PLAN ADOPTION AGREEMENT ADMINISTRA TOR Georgia Municipal Employees Benefit System 201 Pryor Street, SW Atlanta, Georgia 30303 Telephone: 404-688-0472 Facsimile: 404-577-6663 ADOPTING EMPLOYER Name: City of Smyrna, Georgia GOVERNING AUTHORITY Name: Mayor and Council Address: P.o. Box 1226, Smyrna, GA 30080 ,.,.,- Phone: (770) 434-6600 Facsimile: (770) 319-5316 PLAN REPRESENT A TIVE [To represent Governing Authority in all communications with GMEBS and Employees] (See Article II, Section 44 of Master Plan) Name: City Administrator Address: P.o. Box 1226, Smyrna, GA 30080 Phone: (770) 434-6600 Facsimile: (770) 319-5316 E-mail: ~ .., GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2, 3, 4, 23, 26, 31 (8-20-03) - 2 - PENSION COMMITTEE III' 'W' [Please designate members by position. If not, members of Pension Committee shall be determined in accordance with Article XIV of Master Plan] The Pension Committee shall be composed of the City Administrator, the City Director of Human Resources, the City Finance Director, the Chairperson of the City Council Human Resources Committee, and the City Clerk. Pension Committee Secretary: Personnel Director Address: P.O. Box 1226, Smyrna, GA 30080 Phone: (770) 434-6600 Facsimile: (770) 319-5316 E-mail : TYPE OF ADOPTION This Adoption Agreement is for the following purpose (check one): o This is a new defined benefit plan adopted by the Adopting Employer for its Employees. This plan does not replace or restate an existing defined benefit plan. ~ 181 This is an amendment and restatement of the current GMEBS defined benefit plan or other defined benefit plan of the Adopting Employer. o This is an amendment of the Adoption Agreement previously adopted by the Employer (please specify type below): o This is an amendment to change one or more of the Adopting Employer's benefit design elections in the Adoption Agreement. o This is an amendment to add a new Department or a new class of Eligible Employees (If this box is checked, special addendum must be requested from GMEBS to be completed as part of amendment). o This is an amendment to discontinue participation in the Plan by one or more Departments or classes of Employees (If this box is checked, special addendum must be requested from GMEBS to be completed as part of amendment). o Other (please specify): ,*, , , ....., GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2,3,4,23,26,31 (8-20-03) - 3 - EFFECTIVE DATE ." .., (1) Complete this item (1) only ifthis is a new defined benefit plan which does not replace or restate an existing defined benefit plan. The effective date of this Plan is (insert effective date of this Adoption Agreement not earlier than January 1, 1997). (2) Complete this item (2) only if this is an amendment and complete restatement of the Adopting Employer's existing GMEBS defined benefit plan. Except as otherwise specifically provided in the Master Document or in this Adoption Agreement, the effective date of this restatement shall be AUl!ust 17. 2003 (insert effective date of this Adoption Agreement not earlier than January 1, 1997). This Plan is adopted as an amendment and restatement of the Employer's preexisting GMEBS plan, which became effective on December 1. 1971 (insert original effective date of preexisting GMEBS plan). (3) Complete this item (3) only if this Plan is being adopted to replace a non-GMEBS defined benefit plan. - Except as otherwise specifically provided in the Master Document or in this Adoption Agreement, the effective date of this restatement shall be _ (insert effective date of this Adoption Agreement not earlier than January 1, 1997). This Plan is intended to replace and serve as an amendment and restatement of the Employer's preexisting plan, which became effective on _ (insert original effective date of preexisting plan). (4) Complete this item (4) only if this is an amendment of the Adoption Agreement previously adopted by the Employer. The effective date of this amendment shall be _ PLAN YEAR Plan Year means (check one): o Calendar Year o Employer Fiscal Year commencing 1ZI Other (must specify): December 1- November 30. -- GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2, 3, 4, 23, 26, 31 (8-20-03) - 4 - ., CLASSES OF ELIGIBLE EMPLOYEES .... Only Employees of the Adopting Employer who meet the Master Plan's definition of "Employee" may be covered under the Adoption Agreement. Independent contractors, leased employees, and nomesident aliens may not participate in the Plan. Elil!ible Rel!ular Employees Regular Employees include Employees, other than elected or appointed members of the Governing Authority or Municipal Legal Officers, who are regularly employed in the services of the Adopting Employer. Subject to the other conditions of the Master Plan and the Adoption Agreement, the following Regular Employees are eligible to participate in the Plan (check one): ~ ALL - All Regular Employees, provided they satisfy the minimum hour and other requirements specified under "Eligibility Conditions" below. D ALL REGULAR EMPLOYEES EXCEPT for the following employees (must specify): Elected or Appointed Members of the Governinl! Authority ,..... An Adopting Employer may elect to permit participation in the Plan by elected or appointed members of the Governing Authority and/or Municipal Legal Officers, provided they otherwise meet the Master Plan's definition of "Employee" and provided they satisfy any other requirements specified by the Adopting Employer. Municipal Legal Officers to be covered must be specifically identified by position. Subject to the above conditions, the Employer hereby elects the following treatment for elected and appointed officials: Elected or Appointed Members of the Governinl! Authority (check one): D ARE NOT eligible to participate in the Plan. l8J ARE eligible to participate in the Plan. Please specify any limitations on eligibility to participate here (e.g., service on or after certain date): Each elected or appointed member of the Governinl! Authority who holds an office on July 1. 1983. shall be qualified to applied for participation in the Plan on such date. Each other elected or appointed member of the Governinl! Authority who holds an office subsequent to such date shall be qualified to apply for participation in the Plan on the first day of the month immediately follow in I! or coincidinl! with the first date after July 1. 1983. that he occupies any elective office of the Governinl! Authority. w GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2,3,4,23,26,31 (8-20-03) - 5 - Municiual Leeal Officers (check one): ", .. D ARE NOT eligible to participate in the Plan. t8l ARE eligible to participate in the Plan. The term "Municipal Legal Officer" shall include only the following positions (must specify): Chief Leeal Officer. the Solicitor. and the Municiual Court Judee of the City of Smyrna. urovided they do not actively uarticiuate as a Municiual Leeal Officer in the retirement ulan of another emu lover who is a GMEBS member. Please specify any limitations on eligibility to participate here (e.g., service on or after certain date): Each Municiual Leeal Officer who holds office on Julv 1. 1987. shall be qualified to apulied for uarticiuation in the Plan on such date. Each other Municiual Leeal Officer who holds the office subsequent to such date shall be qualified to auulv for uarticiuation in the Plan on the first day of the month immediately followine or coincidine with the first date after Julv 1. 1987. that he occuuies such office. ELIGIBILITY CONDITIONS HOURS PER WEEK (REGULAR EMPLOYEES) The Adopting Employer may specify a minimum number of hours per week which are required to be scheduled and worked by Regular Employees in order for them to become and .., remain "Eligible Regular Employees" under the Plan. It is the responsibility of the Adopting Employer to determine whether these requirements are and continue to be satisfied. The Employer hereby elects the following minimum hour requirement for Regular Employees: D No minimum t8l 20 hours/week (regularly scheduled) D 30 hours/week (regularly scheduled) D Other: (must not exceed 40 hours/week regularly scheduled) Exceutions: If a different minimum hour requirement applies to a particular class or classes of Regular Employees, please specify below the classes to whom the different requirement applies and indicate the minimum hour requirement applicable to them. Class(es) of Regular Employees to whom exception applies (must specify): Minimum hour requirement applicable to excepted Regular Employees: '~ D D D D No minimum 20 hours/week (regularly scheduled) 30 hours/week (regularly scheduled) Other: (must not exceed 40 hours/week regularly scheduled) GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2,3,4,23,26,31 (8-20-03) - 6 - ., MONTHS PER YEAR (REGULAR EMPLOYEES) ., The Adopting Employer may specify a minimum number of months per year which are required to be scheduled and worked by Regular Employees in order for them to become and remain "Eligible Employees" under the Plan. It is the responsibility of the Adopting Employer to determine whether these requirements are and continue to be satisfied. The Employer hereby elects the following minimum requirement for Regular Employees: D No minimum [gI At least ~ months per year (regularly scheduled) WAITING PERIOD Reeular Emplovees Unless otherwise specified by the Adopting Employer in an addendum to this Adoption Agreement, Regular Employees shall be required to complete one (1) year of continuous, uninterrupted Service with the Adopting Employer before they qualify for participation in the Plan. The determination as to whether the waiting period has been satisfied shall be made in accordance with provisions of the Master Plan. ,..,. ESTABLISHING PARTICIPATION IN THE PLAN Participation in the Plan is considered mandatory for all Eligible Employees who satisfy the eligibility conditions specified in the Adoption Agreement. However, the Employer may specify below that participation is optional for certain classes of Eligible Employees, including elected or appointed members of the Governing Authority, Municipal Legal Officers, City Managers, and/or Department Heads. If participation is optional for an Eligible Employee, then in order to become a Participant, he must make an election to participate within 120 days after employment, election or appointment to office, or if later, the date he first becomes eligible to participate in the Plan. The election is irrevocable, and the failure to make the election within the 120-day time limit shall be deemed an irrevocable election not to participate in the Plan. Classes for whom participation is optional: D Elected or appointed members of the Governing Authority D Municipal Legal Officers D City Manager D Department Heads D Other (must specify): ~ GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2, 3, 4, 23, 26, 31 (8-20-03) - 7 - CREDITED SERVICE ,. ., In addition to Current Credited Service the Adopting Employer may include as Credited Service the following types of service: CREDITED PAST SERVICE Credited Past Service means the number of years and complete months of Service with the Adopting Employer prior to the date an Eligible Employee becomes a Participant which are treated as credited service under the Plan. Eligible Employees Employed on Effective Date of GMEBS Plan. With respect to Eligible Employees who are employed by the Adopting Employer on the original Effective Date of the Employer's GMEBS Plan, Service with the Adopting Employer prior to the date the Eligible Employee becomes a Participant (including any Service prior to the Effective Date of the Plan) shall be treated as follows (check one): i:8l All Service prior to the date the Eligible Employee becomes a Participant shall be credited (as Credited Past Service). o All Service prior to the date the Eligible Employee becomes a Participant shall be credited (as Credited Past Service), except for Service rendered prior to (insert date). ....... o All Service prior to the date the Eligible Employee becomes a Participant shall be credited (as Credited Past Service), except for (must specify other limitation): Previously Employed, Returning to Service after Effective Date. If an Eligible Employee is not employed on the original Effective Date of the Employer's GMEBS Plan, but he returns to Service with the Adopting Employer sometime after the Effective Date, his Service prior to the date he becomes a Participant (including any Service prior the Effective Date) shall be treated as follows (check one): o All Service prior to the date the Eligible Employee becomes a Participant shall be credited (as Credited Past Service), subject to any limitations imposed above with respect to Eligible Employees employed on the Effective Date. ~ All Service prior to the date the Eligible Employee becomes a Participant shall be credited (as Credited Past Service), provided that after his return to employment, the Eligible Employee performs Service equal to the period of the break in Service or one (1) year, whichever is less. Any limitations imposed above with respect to Eligible Employees employed on the Effective Date shall also apply. -- GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2, 3, 4, 23, 26, 31 (8-20-03) - 8 - 181 Other limitation(s) (must specify): In addition to the above limitations. Credited Past Service shall not include any tenure of office as an elected or appointed member of the Governine: Authority unless the Participant was servine: as an elected or appointed member of the Governine: Authority or Elie:ible Ree:ular Emplovee on Julv 1. 1983 or Julv 1. 1986. Credited Past Service shall not include any tenure of office as a Municipal Lee:al Officer unless the Participant was servine: as a Municipal Lee:al Officer on Julv 1. 1987. , '., Eligible Employees Initially Employed After Effective Date. If an Eligible Employee's initial employment date is after the original Effective Date of the Employer's GMEBS Plan, his Credited Past Service shall include only the number of years and complete months of Service from his initial employment date to the date he becomes a Participant in the Plan. Newly Eligible Classes of Employees. If a previously ineligible class of Employees becomes eligible to participate in the Plan, the Employer must specify in an addendum to this Adoption Agreement whether and to what extent said Employees' prior service with the Employer shall be treated as Credited Past Service under the Plan. PRIOR MILITARY SERVICE Note: This section does not concern military service required to be credited under USERRA - See Article III, Section 2 of the Master Plan for rules on the crediting of USERRA Military Service. ~ The Adopting Employer may elect to treat military service rendered prior to a Participant's initial employment date or reemployment date as Credited Service under the Plan. Unless otherwise specified by the Employer under "Other Conditions" below, the term "Military Service" shall be as defined in the Master Plan. Except as otherwise required by federal or state law or under "Other Conditions" below, Military Service shall not include service which is credited under any other local, state, or federal retirement or pension plan. Military Service credited under this section shall not include any service which is otherwise required to be credited under the Plan by federal or state law. Prior Military Service shall be treated as follows (check one): ~ Prior Military Service is not creditable under the Plan (if checked, skip to next section - Prior Governmental Service). D Prior Military Service shall be counted as Credited Service for the following purposes (check one or more as applicable): D Computing amount of benefits payable. D Meeting minimum service requirements for vesting. D Meeting minimum service requirements for benefit eligibility. ..... GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2, 3, 4, 23, 26, 31 (8-20-03) - 9 - Maximum Credit for Prior Military Service. ,., ~ Credit for Prior Military Service shall be limited to a maximum of _ years (insert number). Rate of Accrual for Prior Military Service. Credit for Prior Military Service shall accrue at the following rate (check one): o One month of military service credit for every number) of Credited Service with the Adopting Employer. month(s) (insert o One year of military service credit for every _ year(s) (insert number) of Credited Service with the Adopting Employer. o All military service shall be creditable (subject to any caps imposed above) after the Participant has completed years (insert number) of Credited Service with the Employer. o Other requirement (must specify): Payment for Prior Military Service Credit(check one): D Participants shall not be required to pay for military service credit. -... D Participants shall be required to pay for military service credit as follows: o The Participant must pay _% of the actuarial cost of the service credit (as defined below). o The Participant must pay an amount equal to (must specify): Other Conditions for Award of Prior Military Service Credit (must specify): Limitations on Service Credit Purchases. For purposes of this section and the following section concerning prior governmental service credit, the term "actuarial cost of the service credit" means the present value of the Accrued Benefit relating to such additional service credit determined as of the payment date and calculated based upon the assumptions specified in Article XII, Section 7 of the Master Plan. -- In the case of a service credit purchase, the Participant shall be required to comply with any rules and regulations established by the GMEBS Board of Trustees concerning said purchases. The Employer may elect to allow Employees to make the purchase through payroll deduction and the Employer may pick-up the amount to be contributed by the Employee in accordance with Internal Revenue Code Section 414(h) and the Plan, subject to any conditions contained in GMEBS' rules and regulations concerning service credit purchases. GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2, 3, 4, 23, 26, 31 (8-20-03) - 10- , PRIOR GOVERNMENTAL SERVICE .... Note: Prior service with other GMEBS employers shall be credited as provided under the Master Plan. The Adopting Employer may elect to treat governmental service rendered prior to a Participant's initial employment date or reemployment date as creditable service under the Plan. Subject to any limitations imposed by law, the term "prior governmental service" shall be as defined by the Adopting Employer below. The Employer elects to treat prior governmental service as follows (check one): o Prior governmental service is not creditable under the Plan (if checked, skip to next section - Unused Sick/Vacation/Personal Leave). D Prior governmental service shall be counted as Credited Service for the following purposes under the Plan (check one or more as applicable): D Computing amount of benefits payable. D Meeting minimum service requirements for vesting. D Meeting minimum service requirements for benefit eligibility. Definition of Prior Governmental Service. -.. Prior governmental service shall be defined as follows: (must specify): Unless otherwise specified above, prior governmental service shall include only full-time service (minimum hour requirement same as that applicable to Eligible Regular Employees). Maximum Credit for Prior Governmental Service. Credit for prior governmental service shall be limited to a maximum of number). years (insert Rate of Accrual for Prior Governmental Service Credit. Credit for prior governmental service shall accrue at the following rate (check one): D One month of prior governmental service credit for every _ month(s) (insert number) of Credited Service with the Adopting Employer. D One year of prior governmental service credit for every _ year(s) (insert number) of Credited Service with the Adopting Employer. ~ GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2, 3, 4, 23, 26, 31 (8-20-03) - 11 - o All prior governmental service shall be creditable (subject to any caps imposed above) after the Participant has completed _ years (insert number) of Credited Service with the Adopting Employer. , ..... o Other requirement (must specify): Payment for Prior Governmental Service Credit. D Participants shall not be required to pay for governmental service credit. D Participants shall be required to pay for governmental service credit as follows: o The Participant must pay _% of the actuarial cost of the service credit. D The Participant must pay an amount equal to (must specify): UNUSED SICKN ACA TION/PERSONAL LEAVE An Adopting Employer may elect to treat accumulated days of unused leave for which a terminated Participant is not paid as Credited Service. The Pension Committee shall be responsible to certify to GMEBS the total amount of unused leave which is creditable hereunder. The Employer elects the following treatment of unused leave: ,,I D Unused leave shall not be treated as Credited Service (if checked, skip to next section - Retirement Eligibility). 'lW' IZI The following types of unused leave for which the Participant is not paid shall be treated as Credited Service under the Plan (check one or more as applicable): [g] Unused sick leave [g] Unused vacation leave D Unused personal leave o Other (must specify): Minimum Service Requirement. In order to receive credit for unused leave, a Participant must meet the following requirement at termination (check one): IZI o The Participant must be 100% vested in a normal retirement benefit. The Participant must have at least years (insert number) of Total Credited Service (not including leave otherwise creditable under this section). Other (must specify): -:" o "-' GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2, 3, 4, 23, 26, 31 (8-20-03) - 12 - *" Use of Unused Leave Credit. Unused leave shall count as Credited Service for the following purposes under the Plan (check one or more as applicable): ,., i:SJ Computing amount of benefits payable. o Meeting minimum service requirements for vesting. o Meeting minimum service requirements for benefit eligibility. Maximum Credit for Unused Leave. Credit for unused leave shall be limited to a maximum of _ months (insert number). Computation of Unused Leave. Unless otherwise specified by the Adopting Employer under "Other Conditions" below, each twenty (20) days of creditable unused leave shall constitute one (1) complete month of Credited Service under the Plan. Partial months shall not be credited. Other Conditions (please specify): RETIREMENT ELIGIBILITY ~ EARLY RETIREMENT QUALIFICATIONS Early retirement qualifications are (check one or more as applicable): i:SJ Attainment of age 55 (insert number) o Completion ofl years (insert number) of Total Credited Service The early retirement qualifications listed above (55+7) apply to: 1) Class 3 Participants whose effective retirement date is on or after January 1, 2000; 2) elected or appointed members of the Governing Authority or Municipal Legal Officers who initially take office on or after July 1, 1999 and whose effective retirement date is on or after January 1, 2000; and 3) elected or appointed members of the Governing Authority and Municipal Legal Officers who, pursuant to the Ordinance approved April 19, 1999, elected to be covered by the terms of the Retirement Plan which became effective July 1, 1999 (hereinafter "July 1, 1999 Plan") and whose effective retirement date is on or after January 1, 2000. In calculating the (55+7) early retirement benefit payable hereunder, the early retirement reduction shall be applied in accordance with Section 6(a) of the Addendum attached to this Adoption Agreement. ,.., Definition of Class 3 Participant. For purposes of this Adoption Agreement and the Addendum attached to this Adoption Agreement, the term "Class 3 Participant" shall refer GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2, 3, 4, 23, 26, 31 (8-20-03) - 13 - ", to: 1) Participants who are Eligible Regular Employees and who are initially employed on or after July 1, 1999; and 2) Participants who are Eligible Regular Employees and who, pursuant to the Ordinance approved April 19, 1999, elected to be covered by the terms of the July 1, 1999 Plan. ., Exceptions: If different early retirement eligibility requirements apply to a particular class or classes of Eligible Employees, the Employer must specify below the classes to whom the different requirements apply and indicate below the requirements applicable to them. Eligible Employees to whom exception applies (must specify): Class 1 Participants - At Least 55 and Meets Rule of 85. The early retirement qualifications for Class 1 Participants are attainment of at least age 55 and combined years of Total Credited Service and years of age equaling at least 85. In calculating the early retirement benefit payable to Class 1 Participants hereunder, the early retirement table specified in Section 6(b) of the Addendum attached to this Adoption Agreement shall apply. Definition of Class 1 Participant. For purposes of this Adoption Agreement and the Addendum, the term "Class I" Participant shall refer to Participants who are Police Officers or Firefighters as defined below and who, pursuant to the Ordinance approved April 19, 1999, elected (affirmatively or by default) to remain covered by the terms of the Retirement Plan which preceded the July 1, 1999 Retirement Plan (hereinafter "the Pre- July 1, 1999 Plan"). ~ Class 2 Participants - 55 and 10. The early retirement qualifications for Class 2 Participants are attainment of at least age 55 and completion of at least 10 years of Total Credited Service. In calculating the early retirement benefit payable to Class 2 Participants hereunder, the early retirement reduction table specified in Article XII, Section 1 of the Master Plan shall apply. Definition of Class 2 Participant. For purposes of this Adoption Agreement and the Addendum, the term "Class 2" Participant shall refer to Participants who are Eligible Regular Employees (other than Police Officers or Firefighters) and who pursuant to the Ordinance approved April 19, 1999, elected (affirmatively or by default) to be covered by the terms of the Pre-July 1, 1999 Plan. Elected Officials and Municipal Leeal Officers Who Elected Pre-July 1. 1999 Plan - 55 and 10. The early retirement qualifications for elected or appointed members of the Governing Authority and Municipal Legal Officers who, pursuant to the Ordinance approved April 19, 1999, elected (affirmatively or by default) to be covered by the terms of the Pre-July 1, 1999 Plan shall be attainment of at least age 55 and completion of ten (10) years of Total Credited Service. In calculating the early retirement benefit payable hereunder, the early retirement table specified in Article XII, Section 1 of the Master Plan shall apply. ...., GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2, 3, 4, 23, 26, 31 (8-20-03) - 14 - '" Definition of "Firefiehter" and "Police Officer". For purposes of this Adoption Agreement and the Addendum, the terms "Firefighter" and "Police Officer" shall be as defined in the Master Plan, Article II, Sections 30 and 46, respectively. .., NORMAL RETIREMENT QUALIFICATIONS Note: Please complete this section and also list "Alternative" Normal Retirement Qualifications, if any, in next section. Reeular Emplovees Normal retirement qualifications for Regular Employees are (check one or more as applicable): ~ Attainment of age 65 (insert number) ~ Completion of ~ years (insert number) of Total Credited Service The above Normal Retirement qualifications (65+5) apply to Class 2 and Class 3 Participants as defined on pp. 13-14 (see also "Rule of 80" Alternative Normal Retirement benefit applicable to Class 3 Participants on next page). Exceptions: If different normal retirement qualifications apply to a particular class or classes of Regular Employees, the Employer must specify below the classes to whom the different requirements apply and indicate below the requirements applicable to them. .,. Class(es) of Regular Employees to whom exception applies (must specify): Class 1 - Rule of 85. Minimum Aee 60. The normal retirement qualifications for Class 1 Participants (see definition of Class I Participant on p. 14) are attainment of at least age 60 and combined years of Total Credited Service and years of age equaling at least 85. Elected or Appointed Members of Governine Authority Complete this section only if elected or appointed members of the Governing Authority or Municipal Legal Officers are permitted to participate in the Plan. Normal retirement qualifications for this class are (check one or more as applicable): ~ Attainment of age 65 (insert number) o Completion of years (insert number) of Total Credited Service (See also Rule of 80 Alternative Normal Retirement Benefit on next page, available to elected or appointed members of the Governing Authority or Municipal Legal Officers who 1) initially take office on or after July 1, 1999 and whose effective retirement date is on or after January 1, 200; or 2) pursuant to the Ordinance approved April 19, 1999, elected to ~ GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2, 3, 4, 23, 26, 31 (8-20-03) - 15 - , be covered by the July 1, 1999 Plan and whose effective retirement date is on or after January 1, 2000). .,. AL TERNA TIVE NORMAL RETIREMENT QUALIFICATIONS Please skip to the next section (Disability Benefit Qualifications) if the Adopting Employer does not offer alternative normal retirement benefits under the Plan. The Employer may elect to permit Participants to retire with unreduced benefits after they satisfy service and/or age requirements other than the regular normal retirement qualifications specified above. The Employer hereby adopts the following alternative normal retirement qualifications: Alternative Normal Retirement Qualifications (check one or more, as applicable): D Alternative Minimum Age & Service Qualifications. (if checked, please complete one or more items below, as applicable): D D Attainment of age Completion of Service (insert number) years (insert number) of Total Credited This alternative normal retirement benefit is available to: D All Participants who qualify. D Only the following Participants (must specify): ~ A Participant (check one): 0 is required 0 is not required to be in the service of the Employer at the time he satisfies the above qualifications in order to qualify for this alternative normal retirement benefit. [81 Rule of 80 (insert number). The Participant's combined years of Total Credited Service and years of age must equal or exceed this number (not counting partial years). Please complete additional items below: To qualify for this alternative normal retirement benefit, the Participant (check one): [81 must have attained at least age 55 (insert number) 0 must not satisfy any minimum age requirement. This alternative normal retirement benefit is available to: D All Participants who qualify. ~ Only the following Participants (must specify): 1) Class 3 Participants (as defined on p. 13) whose effective retirement date is on or after January 1. 2000; 2) elected or appointed members of the Governin2 Authority or Municipal Le2al Officers who initiallv take office on or after Julv 1. 1999 and whose effective retirement date is on or after GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2,3,4,23,26,31 (8-20-03) ~ - 16 - '" January 1. 2000: and 3) elected or appointed members of the Governinl!: Authority and Municipal Lel!:al Officers who. pursuant to the Ordinance approved April 19. 1999. elected to be covered bv the Julv 1. 1999 Plan and whose effective retirement date is on or after January 1. 2000. ..,. A Participant (check one): 0 is required D is not required to be in the service of the Employer at the time he satisfies the Rule in order to qualify for this alternative normal retirement benefit. D Alternative Minimum Service. A Participant is eligible for an alternative normal retirement benefit if he has at least years (insert number) of Total Credited Service, regardless of the Participant's age. This alternative normal retirement benefit is available to: D All Participants who qualify. D Only the following Participants (must specify): ~ Other Alternative Normal Retirement Benefit. J Must specify qualifications: Rule of 85 (insert number). The Participant's combined Total Credited Service and age must equal or exceed this number. Please complete additional items below: .., To qualify for this alternative normal retirement benefit, the Participant (check one): ~ must have attained at least age 60 (insert number) D must not satisfy any minimum age requirement. This alternative normal retirement benefit is available to: D All Participants who qualify. ~ Only the following Participants (must specify): Class 1 Participants (as defined on P. 13). DISABILITY BENEFIT QUALIFICATIONS Please skip to the next section (Retirement Benefit Computation) if the Adopting Employer does not offer disability retirement benefits under the Plan. Subject to the other terms and conditions of the Master Plan, disability retirement qualifications are based upon Social Security Administration award criteria or as otherwise provided under Article II, Section 19 of the Master Plan. .., GMEBS - Defined Benefit Plan Adoption Agreement Rev, p. 2, 3, 4, 23, 26, 31 (8-20-03) - 17 - To qualify for a disability benefit, a Participant must have the following minimum number of .IJI' years of Total Credited Service: ...., D No minimum. D years (insert number) of Total Credited Service. ~ Other requirement (must specify): Disability Retirement Benefits are only available to Class 1 and 2 Participants and elected or appointed members of the Governine Authority and Municipal Leeal Officers who. pursuant to the Ordinance approved April 19. 1999. elected (affirmatively or by default) to be covered by the terms of the Pre-July 1. 1999 Retirement Plan. For these Participants. there is no required minimum number of years of Total Credited Service to qualify for the Disability Benefit. However. Disability Retirement Benefits are not available to any other Participants. RETIREMENT BENEFIT COMPUTATION MAXIMUM TOTAL CREDITED SERVICE The number of years of Total Credited Service which may be used to calculate a benefit is (check one): ,..., D not limited. ~ limited to 35 years (applies only to Class 3 Participants, as defined on p. 13). D limited to years as an elected or appointed member of the Governing Authority or Municipal Legal Officer. MONTHL Y NORMAL RETIREMENT BENEFIT AMOUNT Reeular Employees The monthly normal retirement benefit for Eligible Regular Employees shall be 1/12 of (check one): ~ Flat Percentage Formula. 2.0% (insert percentage) of Pinal Average Earnings multiplied by years of Total Credited Service as an Eligible Regular Employee (applies only to Class 3 Participants, (as defined on p. 13) whose effective retirement date is on or after January 1,2000). o Split Formula (Dynamic Break Point). _ % (insert percentage) of Pinal Average Earnings up to the amount of Covered Compensation as defined in Article II, Section 15 of the Master Plan (Dynamic Break Point), plus % -.,. GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2,3,4,23,26,31 (8-20-03) - 18 - .. ....., (insert percentage) of Final Average Earnings in excess of said Covered Compensation, multiplied by years of Total Credited Service as an Eligible Regular Employee. D Split Formula (Table Break Point). % (insert percentage) of Final Average Earnings up to the amount of Covered Compensation as defined in Article II, Section 16 of the Master Plan (Table Break Point), plus % (insert percentage) of Final Average Earnings in excess of said Covered Compensation, multiplied by years of Total Credited Service as an Eligible Regular Employee. D Grandfathered Split Formula. For Eligible Regular Employees employed on or after , (insert date) and for Eligible Regular Employees employed prior to said date only when application of this formula would result in a higher benefit than the benefit as determined under the following sentence, % (insert percentage) of Final Average Earnings up to the amount of Covered Compensation as defined in Article II, Section 15 of the Master Plan (Dynamic Break Point), plus % (insert percentage) of Final Average Earnings in excess of said Covered Compensation, multiplied by years of Total Credited Service as an Eligible Regular Employee. For Regular Employees employed prior to , (insert date) only when application of this formula would result in a higher benefit than the benefit as determined under the preceding sentence, % (insert percentage) of Final Average Earnings up to the amount of Covered Compensation as defined in Article II, Section 16 of the Master Plan (Table Break Point), plus % (insert percentage) of Final Average Earnings in excess of said Covered Compensation, multiplied by years of Total Credited Service as an Eligible Regular Employee. D Other Formula (must specify): Exceptions: If a formula other than that specified above applies to a special class( es) of Eligible Regular Employees, the Employer must specify below the class(es) to whom the different formula applies and indicate below the formula applicable to them. Class( es) of Regular Employees to whom exception applies (must specify): Class 1 and Class 2 Participants (as defined on p. 14). Benefit formula for excepted class(es) (must specify): (a) Employed After October 1. 1984 0.25-2.0% Dynamic Breakpoint). For Class 1 and Class 2 Participants employed on or after October 1. 1984. and for Class 1 and Class 2 Participants employed prior to said date only when application of this formula would result in a hieher benefit than the benefit as determined under subsection (b) below. the monthly normal retirement benefit shall be 1/12 of 1.25% of Final Averaee Earnines UP to the amount of Covered Compensation as defined in Article II. Section 15 of the Master Plan ..... (Dynamic Break Point). plus 2.0% of Final Averaee Earnines in excess of said Covered GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2, 3, 4, 23, 26, 31 (8-20-03) - 19 - .. Compensation. multiplied by years of Total Credited Service as an Eli!!ible Re!!ular Employee. (b) Employed Before October 1. 1984 (1.0-1.75% Table Break Point). For Class 1 and Class 2 Participants employed prior to October 1. 1984 only when application of this formula would result in a hi!!her benefit than the benefit as determined under subsection (a) above. the monthly normal retirement benefit shall be 1/12 of 1.0% of Final Avera!!e Earnin!!s UP to the amount of Covered Compensation as defined in Article II. Section 16 of the Master Plan (Table Break Point). plus 1.75% of Final Avera!!e Earnin!!s in excess of said Covered Compensation. multiplied by years of Total Credited Service as an Eli!!ible Re!!ular Employee. Final A vera!!e Earnin!!s Final Average Earnings is defined as (check one): 181 The annual average of Earnings paid to a Participant by the Adopting Employer for the three (3) (applies to Class 3 Participants only - substitute "five (5)" for Class 1 and 2 Participants) consecutive years (12 month periods) of Credited Service preceding the Participant's most recent Termination in which the Participant's Earnings were the highest. Note: GMEBS has prescribed forms for calculation of Final Average Earnings that must be used for this purpose. '-" o Other method of calculation (must specify): Elected or Appointed Members of the Governin!! Authority Complete this section only if elected or appointed members of the Governing Authority or Municipal Legal Officers are permitted to participate in the Plan. The monthly normal retirement benefit for members of this class shall be as follows (check one): ~ $ 42.00 (insert dollar amount) per month for each year of Total Credited Service as an elected or appointed member of the Governing Authority or Municipal Legal Officer or major fraction thereof (6 months and 1 day) (applies to elected or appointed members of the Governin!! Authority and Municipal Le!!al Officers who. pursuant to the Ordinance approved April 19. 1999. elected (affirmatively or by default) to be covered by the terms of the Pre-July 1. 1999 Retirement Plan). ~ Other formula (must specify): For elected or appointed members of the Governin!! Authority or Municipal Le!!al Officers who initially take office on or after January 1. 2000 and for elected or appointed members of the Governin!! Authority and Municipal Le!!al Officers who. pursuant to the Ordinance approved April 19. 1999. elected to be covered by the July 1. 1999 Plan and whose effective retirement date is on or after January 1.2000. the ^~ w GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2, 3, 4, 23, 26, 31 (8-20-03) - 20- ." formula shall be 1/12 of 2.0% of Final Avera2e Earnin2s multiplied bv years of Total Credited Service as an elected or appointed member of the Governin2 Authority or Municipal Le2al Officer. For purposes of this provision. "Final Avera2e Earnin2s" shall mean the avera2e annual earnin2s of Eli2ible Re2ular Emplovees included in the most recent annual employee census report prepared in connection with the Plan's annual actuarial valuation and on file with GMEBS prior to the Participant's Termination. Said amount shall be determined bv dividine: the sum of the annual earnin2s for all Elie:ible Re2ular Emplovees reflected in the employee census report bv the total number of Eli2ible Re2ular Emplovees whose annual earnin2s are reflected in said report. Exceptions: If a different formula from that specified above applies to a particular class of elected or appointed members of the Governing Authority or Municipal Legal Officers, the Employer must specify below the class to whom the different formula applies and indicate below the formula applicable to them. Those to whom exception applies (must specify): Benefit formula for excepted class (must specify): MONTHL Y EARLY RETIREMENT BENEFIT AMOUNT (check one): ......, o The monthly Early Retirement benefit shall be computed in the same manner as the monthly Normal Retirement benefit, but the benefit shall be reduced on an Actuarially Equivalent basis in accordance with Article XII, Section 1 of the Master Plan to account for early commencement of benefits. i:8J The monthly Early Retirement benefit shall be computed as follows (must specify): For Class 3 Participants (as defined on P. 13) for elected or appointed members of the Governin2 Authority and Municipal Le2al Officers who. pursuant to the Ordinance approved April 19. 1999. elected to be covered by the Julv 1. 1999 Plan. and for Participants initially employed or holdin2 office on or after Julv 1. 1999. the monthly Earlv Retirement benefit shall be computed in the same manner as the monthly Normal Retirement benefit. but the benefit shall be reduced in accordance with the early retirement reduction factors contained in Section 6(a) of the Addendum accompanvin2 this Adoption Ae:reement. For Class 1 Participants (as defined on p. 14) the monthly Earlv Retirement benefit shall be computed in the same manner as the monthly Normal Retirement benefit. but the benefit shall be reduced in accordance with Section 6(b) of the Addendum accompanvin2 this Adoption A2reement. ..... GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2, 3, 4, 23, 26, 31 (8-20-03) - 21 - ..,. For Class 2 Particioants (as defined in o. 14) the monthly Early Retirement benefit shall be comouted in the same manner as the monthly Normal Retirement benefit. but the benefit shall be reduced in accordance Article XII. Section 1 of the Master Plan. MONTHLY LATE RETIREMENT BENEFIT AMOUNT (check one): ~ The monthly Late Retirement benefit shall be computed in the same manner as the Normal Retirement Benefit, based upon the Participant's Accrued Benefit as of his Late Retirement Date. D The monthly Late Retirement benefit shall be the greater of: (1) the monthly retirement benefit accrued as of the Participant's Normal Retirement Date, actuarially increased in accordance with the actuarial table contained in Article XII, Section 6 of the Master Plan; or (2) the monthly retirement benefit accrued as of the Participant's Late Retirement Date, without further actuarial adjustment under Article XII, Section 6 of the Master Plan. MONTHL Y DISABILITY BENEFIT AMOUNT ....,. Complete this section only if the Adopting Employer elects to provide Disability retirement benefits. The amount of the monthly Disability Benefit shall be computed as follows (check one): ~ The monthly Disability benefit shall be computed in the same manner as the Normal Retirement benefit, based upon the Participant's Accrued Benefit as of his Disability Retirement Date. D Other method (must specify): Minimum Disability Benefit. The Adopting Employer may set a minimum Disability Benefit. The Employer elects the following minimum Disability benefit (check one): D No minimum is established. ~ No less than (check one): ~ 20% D 10% 0 _% (if other than 20% or 10% insert percentage amount) of the Participant's average monthly Earnings for the 12 calendar month period immediately preceding his Termination of Employment as a result of a Disability (aoolies only to Class 1 and 2 Particioants. and elected or aooointed members of the Governinl! Authority and Municioal Lel!al Officers who. oursuant to the Ordinance aooroved Aorill9. 1999. elected (affirmatively or by default) to be covered by the Pre- July 1. 1999 Retirement Plan). -- GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2,3,4,23,26,31 (8-20-03) - 22- --- o No less than (check one): D 66 2/3 % 0 % (if other than 66 2/3%, insert percentage amount) of the Participant's average monthly Earnings for the 12 calendar month period immediately preceding his Termination of Employment as a result of a Disability, less any benefits paid from Workers Compensation, federal Social Security benefits as a result of disability, any state compulsory disability plan, and any disability income plan paid by the Employer. o Other Minimum (must specify): BENEFIT CAP FOR ELECTED OFFICIALS Complete this section only if elected or appointed members of the Governing Authority participate in the Plan. In addition to any other limitations imposed by federal or state law, the Employer may impose a cap on the monthly benefit amount that may be received by elected or appointed members of the Governing Authority. The Employer elects (check one): ,., o No cap. ~ Monthly benefit for Service as an elected or appointed member of the Governing Authority may not exceed 100% of the Participant's final monthly salary as an elected or appointed member of the Governing Authority (applies only to elected or appointed members of the Governine: Authority and Municipal Lee:al Officers who initially take office or return to office on or after Aue:ust 18. 2003). o Other cap (must specify): DISTRIBUTIONS FOR THOSE WHO REMAIN IN SERVICE AFTER NORMAL RETIREMENT The Employer may elect to permit active Participants who have satisfied the Employer's qualifications for Normal Retirement or Alternative Normal Retirement to begin drawing their retirement benefit even though they have not yet terminated employment with Employer, subject to the terms of the Master Plan. The Employer makes the following election in this regard (check one): .--- '-" t8J Distribution of retirement benefits is not permitted until the Participant has terminated employment and otherwise qualifies for receipt of benefits. o Participants who have satisfied the qualifications for Normal Retirement or Alternative Normal Retirement may begin drawing their Normal Retirement benefit even though they remain in the service of the Employer. This provision applies to (check one): GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2, 3, 4, 23, 26, 31 (8-20-03) - 23 - o All Participants w o Only Participants in the following classes (in-service distributions not permitted for any others) (must specify): COST OF LIVING ADJUSTMENT The Employer may elect to provide for a cost-of-living adjustment (COLA) in the amount of benefits being received by Retired Participants and Beneficiaries, which shall be calculated and paid in accordance with the terms of the Master Plan. The Employer hereby elects the following (check one): 181 No cost-of-living adjustment. o Variable Annual cost-of-living adjustment not to exceed percentage). % (insert o Fixed annual cost-of-living adjustment equal to % (insert percentage). The above cost-of-living adjustment shall apply with respect to Participants (and their Beneficiaries) who terminate employment on or after (insert date). RE-EMPLOYMENT AFTER RETIREMENT - Reemployment After Normal Retirement. In the event a Retired Participant is reemployed with the Employer as an Eligible Employee after his Normal Retirement Date, the following rule shall apply (check one): 181 The Participant's benefit shall be suspended in accordance with Article VI, Section 6(a) of the Master Plan for as long as the Participant remains employed. o The Participant may continue to receive his retirement benefit in accordance with Article VI, Section 6( c) of the Master Plan. This rule shall apply to ( check one): o all Retired Participants 0 only the following classes of Retired Participants (must specify - benefits of those Retired Participants not listed shall be suspended in accordance with Article VI, Section 6(a) of the Master Plan if they return to work with the Employer): Reemployment After Early Retirement. In the event a Participant retires with an Early Retirement benefit and is reemployed with the Employer as an Eligible Employee before his Normal Retirement Date, the following rule shall apply (check one): 181 The Participant's Early Retirement benefit shall be suspended in accordance with Article VI, Section 6(a) of the Master Plan for as long as the Participant remains employed. ...., GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2, 3, 4, 23, 26, 31 (8-20-03) - 24- o The Participant's eligibility to continue receiving Early Retirement benefits shall be subject to the following limitations (if this item is checked, check ODe of the following): .... o The Participant's Early Retirement benefit shall be suspended. However, the Participant may again begin receiving benefits after he satisfies the qualifications for Normal Retirement or alternative Normal Retirement in accordance with Article VI, Section 6( d) of the Master Plan. o The Participant may continue receiving his Early Retirement benefit in accordance with Article VI, Section 6( e) of the Master Plan, provided his initial retirement was in good faith and he does not return to employment with the Employer for a minimum of _ months (insert Dumber no less than 6) following his effective Retirement date. If this requirement is not met, the Participant's benefit shall be suspended until he satisfies the qualifications for Normal Retirement or alternative Normal Retirement in accordance with Article VI, Section 6( d) of the Master Plan. TERMINATION OF EMPLOYMENT BEFORE RETIREMENT; VESTING Elhdble Ree:ular Emplovees -., Subject to the terms and conditions of the Master Plan, a Participant who is an Eligible Regular Employee and whose employment is terminated for any reason other than death or retirement shall earn a vested right in his accrued retirement benefit in accordance with the following schedule (check oDe): o No vesting schedule (immediate vesting). I:8J Cliff Vesting Schedule. Benefits shall be 100% vested after the Participant has a minimum of 1 years (insert number not to exceed 10) of Total Credited Service. Benefits remain 0% vested until the Participant satisfies this minimum (applies to Class 3 Participants (as defined on p. 13) who terminate on or after January 1, 2000). o Graduated Vesting Schedule. Benefits shall become vested in accordance with the following schedule (insert percentages): ~ COMPLETED YEARS OF TOTAL CREDITED SERVICE VESTED PERCENTAGE 1 % 2 % 3 % 4 % 5 % 6 % 7 % 8 % '~ GMEBS - Defined Benefit Plan Adoption Agreement Rev, p, 2, 3, 4, 23, 26, 31 (8-20-03) - 25 - % % '- 9 10 Exceptions: If a vesting schedule other than that specified above applies to a special class( es) of Regular Employees, the Employer must specify the different vesting schedule below and the class(es) to whom the different vesting schedule applies. Regular Employees to whom exception applies (must specify): Class 1 and Class 2 Participants (as defined on p. 14). Vesting Schedule for excepted class (must specify): Benefits shall be 100% vested after the Participant has a minimum of 10 years of Total Credited Service. Benefits remain 0% vested until the Participant satisfies this minimum. Elected or Appointed Members of the Governine: Authority Complete this Section only if Elected or Appointed Members of the Governing Authority are permitted to participate in the Plan. Subject to the terms and conditions of the Master Plan, a Participant who is an elected or appointed member of the Governing Authority or a Municipal Legal Officer shall earn a vested right in his accrued retirement benefit for Credited Service in such capacity in accordance with the following schedule (check one): o No vesting schedule (immediate vesting). .., ~ Other vesting schedule (must specify): No vestine: schedule (immediate vestine:) for elected or appointed members of the Governine: Authority and Municipal Lee:al Officers who hold office before Aue:ust 18. 2003. For elected or appointed members of the Governine: Authority and Municipal Lee:al Officers who initially take office or return to office on or after Aue:ust 18. 2003. benefits shall be 100% vested after the Participant has a minimum of 7 years of Total Credited Service. Benefits remain 0% vested until the Participant satisfies this minimum. PRE-RETIREMENT DEATH BENEFITS IN-SERVICE DEATH BENEFIT Subject to the terms and conditions of the Master Plan, the Employer hereby elects the following in-service death benefit, to be payable in the event that an eligible Participant's employment with the Employer is terminated by reason of death prior to Retirement (check and complete one): o Auto A Death Benefit. A monthly benefit payable to the Participant's Pre- Retirement Beneficiary, equal to the decreased monthly retirement benefit that would have otherwise been payable to the Participant, had he elected a 100% joint and survivor benefit under Article VII, Section 3 of the Master Plan. In order to ~ GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2, 3, 4, 23, 26, 31 (8-20-03) - 26- ... be eligible for this benefit, a Participant must meet the following requirements (check one): o The Participant must be vested in a normal retirement benefit. D The Participant must have Credited Service. years (insert number) of Total D The Participant must be eligible for Early or Normal Retirement. D Other eligibility requirement (must specify): D Actuarial Reserve Death Benefit. A monthly benefit payable to the Participant's Pre-Retirement Beneficiary, actuarially equivalent to the reserve required for the Participant's anticipated Normal Retirement benefit, provided the Participant meets the following eligibility conditions (check one): o The Participant shall be eligible immediately upon becoming a Participant. o The Participant must have _ years (insert number) of Total Credited Service. o Other eligibility requirement (must specify): ~ Imputed Service. For purposes of computing the actuarial reserve death benefit, the Participant's Total Credited Service shall include (check one): o Total Credited Service accrued prior to the date of the Participant's death. o Total Credited Service accrued prior to the date of the Participant's death, plus (check one): Done-half (12) 0 (insert other fraction) of the Service between such date of death and what would otherwise have been the Participant's Normal Retirement Date. Exceptions: If an in-service death benefit other than that specified above applies to one or more classes of Participants, the Employer must specify below the death benefit payable, the class( es) to whom the different death benefit applies, and the eligibility conditions for said death benefit. Alternative Death Benefit (must specify): See Addendum Sections 7(a) and 7(b) for description of in-service death benefits. Participants to whom alternative death benefit applies (must specify): See Addendum Sec. 7. Eligibility conditions for alternative death benefit (must specify): See Addendum Sec. 7. ~ GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2, 3, 4, 23, 26, 31 (8-20-03) - 27 - -- TERMINA TED VESTED DEATH BENEFIT Complete this Section only if the Employer offers a terminated vested death benefit. The Employer may elect to provide a terminated vested death benefit, to be payable in the event that a Participant who is vested dies after termination of employment but before Retirement benefits commence. Subject to the terms and conditions of the Master Plan, the Employer hereby elects the following terminated vested death benefit (check one): o Auto A Death Benefit. A monthly benefit payable to the Participant's Pre- Retirement Beneficiary, equal to the decreased monthly retirement benefit that would have otherwise been payable to the Participant had he elected a 100% joint and survivor benefit under Article VII, Section 3 of the Master Plan. o Accrued Retirement Benefit. A monthly benefit payable to the Participant's Pre- Retirement Beneficiary which shall be actuarially equivalent to the Participant's Accrued Normal Retirement Benefit determined as of the date of death. Exceptions: If a terminated vested death benefit other than that specified above applies to one or more classes of Participants, the Employer must specify below the death benefit payable, the class( es) to whom the different death benefit applies, and the eligibility conditions for said death benefit. Alternative Death Benefit (must specify): See Addendum Sections 7(c) and 7(d) for ...., description of terminated vested death benefits. Participants to whom alternative death benefit applies (must specify): See Addendum Sec. 7. Eligibility conditions for alternative death benefit (must specify): See Addendum Sec. 7. EMPLOYEE CONTRIBUTIONS Employee contributions (check one): o Are not required. o Are required in the amount of _ % (insert percentage) of Earnings for all Participants. ~ Are required in the amount of 3.25% (or 2.5%, if applicable) of Earnings for Participants in the following classes (must specify): The 3.25% rate applies to 1) Participants initially emploved or reemployed on or after July 1. 1999; 2) Class 3 Participants (as defined on P. 13); and 3) elected or appointed members of the Governinl!: Authority and Municipal Lel!:al Officers who. pursuant to the Ordinance approved April 19. 1999. elected to be covered by the terms of the July 1. 1999 Retirement Plan. The 2.5% rate applies to Class 1 Participants (as defined on p. 14). There is no required contribution ~ GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2,3,4,23,26,31 (8-20-03) - 28 - ~ for Class 2 Participants (as defined on p. 14) and for elected or appointed members of the Governin2: Authority and Municipal Le2:al Officers who. pursuant to the Ordinance approved April 19. 1999. elected (affirmatively or by default) to be covered bv the terms of the Pre-July 1. 1999 Retirement Plan. Pre- Tax Treatment of Employee Contributions. If employee contributions are required, an Adopting Employer may elect to "pick-up" employee contributions to the Plan in accordance with IRC Section 414(h). In such case employee contributions shall be made on a pre-tax rather than a post-tax basis, provided the requirements of Section 414(h) are met. If the Employer elects to pick-up employee contributions, it is the Employer's responsibility to ensure that employee contributions are paid and reported in accordance with Section 414(h). The Employer hereby elects (check one): [gI To pick-up employee contributions. o Not to pick-up employee contributions. Interest on Employee Contributions. The Adopting Employer may elect to pay interest on any refund of Employee Contributions. o Interest shall not be paid. o Interest shall be paid on a refund of Employee Contributions at a rate established by GMEBS from time to time. ~ EMPLOYER ADOPTION The Adopting Employer hereby agrees to abide by the Master Plan, Trust Agreement, bylaws, and rules and regulations adopted by the Board of Trustees of GMEBS, as each may be amended from time to time, in all matters pertaining to the operation and administration of the Plan. It is intended that the Act creating the Board of Trustees of GMEBS, the bylaws of the Board, the rules and regulations of the Board, and this Plan are to be construed in harmony with each other. In the event of a conflict between the provisions of any of the foregoing, they shall govern in the following order: (1) The Act creating the Board of Trustees of the Georgia Municipal Employees Benefit System, O.C.G.A. Section 47-5-1 et seq. and any other applicable provisions ofO.C.G.A. Title 47; (2) The bylaws of the Board; (3) The rules and regulations of the Board; - (4) This Ordinance and Adoption Agreement. W' GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2, 3, 4, 23, 26, 31 (8-20-03) - 29- In the event that any section, subsection, sentence, clause or phrase of this Plan shall be declared or adjudged invalid or unconstitutional, such adjudication shall in no manner affect the ...,. previously existing provisions or the other section or sections, subsections, sentences, clauses or phrases of this Plan, which shall remain in full force and effect, as if the section, subsection, sentence, clause or phrase so declared or adjudicated invalid or unconstitutional were not originally a part hereof. The Governing Authority hereby declares that it would have passed the remaining parts of this Plan or retained the previously existing provisions if it had known that such part or parts hereof would be declared or adjudicated invalid or unconstitutional. The Adopting Employer understands that failure to properly complete this Adoption Agreement may result in the Adopting Employer's plan not being qualified under the Internal Revenue Code. The Adopting Employer also agrees it will inform the Board of any amendments to this Adoption Agreement, its Plan, or the discontinuance, abandonment or termination of its Plan. ~ ~ GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2, 3, 4, 23, 26, 3] (8-20-03) - 30 - AN ORDINANCE (continued from page 1) ,.., Section 2. Except as otherwise specifically required by law or by the terms of the Master Plan or Adoption Agreement, the rights and obligations under the Plan with respect to persons whose employment or term of office with the City was terminated for any reason whatsoever prior to the effective date of this Ordinance are fixed and shall be governed by such Plan, if any, as it existed and was in effect at the time of such termination. Section 3. The effective date of this Ordinance shall be August 11..2003. Section 4. All Ordinances and parts of ordinances in conflict herewith are expressly repealed. Approved by the Mayor and Council of the City of Smyrna, Georgia this /1f~ay of AA~\.O.Y~ City lerk Mayor (SEAL) ......, APpr1: go ~ ----- City Attorney -- The terms of the foregoing Adoption Agreement are approved by the Board of Trustees of the Georgia Municipal Employees Benefit System. IN WITNESS WHEREOF, the Board of Trustees of the Georgia Municipal Employees Benefit System has caused its Seal and the signatures of its duly authorized officers to be affixed this day of , 20_ Board of Trustees Georgia Municipal Employees Benefit System (SEAL) Secretary /"'" 915486v2 ......, GMEBS - Defined Benefit Plan Adoption Agreement Rev. p. 2,3,4,23,26,31 (8-20-03) - 31 - -., ADDENDUM TO THE GEORGIA MUNICIPAL EMPLOYEES BENEFIT SYSTEM DEFINED BENEFIT PLAN ADOPTION AGREEMENT This is an addendum to the Adoption Agreement completed by the City of Smyrna. It modifies the Adoption Agreement in the following ways: 1. Addition of a new Department or a new class of Eligible Employees (for amendment of Adoption Agreement only - see pages 4 and 5 of Adoption Agreement): N/A 2. Discontinuance of participation in the Plan by one or more Departments or classes of Employees (for amendment of Adoption Agreement only - see page 5 of Adoption Agreement): N/A ~ 3. Special eligibility service requirement for Regular Employees (see page 5 of Adoption Agreement regarding Waiting Period): N/A 4. Credited Past Service under the Plan for newly eligible classes of employees (see page 8 of Adoption Agreement regarding Past Credited Service): N/A 5. One-time or ad-hoc cost-of-living adjustments (see Article VI, Section 5(d) of Master Plan regarding Cost of Living Adjustment): N/A --., w (Rev. 8-18-03) 1 -.,. 6. Alternative early retirement actuarial reduction factors for one or more classes of Eligible Employees (see Article VI, Section 2 of Master Plan regarding Early Retirement Benefit): (a) Earlv Retirement Reduction for Class 3 Participants. Elected Officials. and Municipal Le2al Officers Governed bv July 1. 1999 Plan and applyin2 for 55 + 7 early retirement benefit. The early retirement reduction for Class 3 Participants, elected or appointed members of the Governing Authority, and Municipal Legal Officers governed by the July 1, 1999 Plan and applying for 55 + 7 early retirement benefit. Said Participant's Early Retirement benefit shall be determined as follows: there shall first be determined the amount of the Normal Retirement Benefit to which the Participant would be entitled if he were age sixty-five (65) as of his effective Retirement Date. The resulting amount shall then be reduced for each month that the Participant's age at his effective Retirement Date is less than age sixty-five (65). The reduction factor shall be one-half percent (112%) for each month that the Participant's age is below sixty-five (65) and one- quarter percent (114%) for each month that the Participant's age is below sixty (60). (b) Early Retirement Reduction Table for Class 1 Participants -- Number of Years Before A2e 60* Percenta2e of Normal Retirement Benefit o 1 2 3 4 5 1.00 .97 .94 .91 .88 .85 * Interpolate for whole months. 7. Other: (a) In-Service Death Benefit for Class 3 Participants and Elected Officials Governed by July 1. 1999 Plan. This subsection 7(a) shall apply to: 1) Class 3 Participants (as defined on p. 13 of the Adoption Agreement); 2) elected or appointed members of the Governing Authority and Municipal Legal Officers who initially take office on or after July 1, 1999; and 3) elected or appointed members of the Governing -- (Rev. 8-18-03) 2 Authority and Municipal Legal Officers who, pursuant to the Ordinance approved April 19, 1999, elected to be covered by July 1,1999 Plan. -.. (1) Spouse's Benefit: Elh!:ibility - If the employment or term of office of a Class 3 Participant or an elected or appointed member of the Governing Authority to whom this subsection 7(a) applies is terminated by reason of his death on or after January 1, 2000 and prior to Retirement, a monthly benefit shall be payable to the Participant's Spouse, provided that: (i) the Participant has attained at least age thirty (30) and has at least five (5) years of Total Credited Service as of his date of death; (ii) the Participant was legally married to his surviving Spouse for a minimum of one (1) year prior to the Participant's death; and (iii) the Spouse survives the Participant until the first day of the seventh (7th) month following the Participant's death. For purposes of this provision, the term "Spouse" shall be as defined in Article II, Section 56 of the Master Plan. ~ (2) Benefit Amount: Commencement Date: Termination. If the requirements of subsection 7(a)(l) above are met, the Participant's Spouse shall be eligible to receive a monthly death benefit, commencing as of the first day of the seventh (7th) month following the Participant's death. Said benefit shall be equal to forty-five percent (45%) of the Participant's projected Monthly Retirement Benefit. For purposes of this Section, the term "projected Monthly Retirement Benefit" shall mean the Monthly Retirement Benefit calculated in the manner provided in Article VI, Section 1 of the Master Plan as of the Participant's date of death, provided that the Participant's Total Credited Service shall include the amount of Credited Service accrued through the date of death, plus the additional Credited Future Service the Participant would have earned had he survived and remained employed with the Employer until his Normal Retirement Date. A surviving Spouse shall no longer be eligible to receive benefits under this subsection 7(a) upon the Spouse's death. (3) Minor Children's Benefit: Eli2ibilitv. In the event that there is no Spouse who survives the Participant until the first day of the seventh (7th) month following the Participant's date of death, or in the event that an eligible Spouse who is receiving benefits pursuant to subsection 7(a)(2) dies while receiving benefits, then the Minor Child or Minor Children who survive the Participant (and the Spouse if applicable) by at least 32 days shall become eligible to receive in equal shares the monthly benefit that was being paid to the Spouse. If there is no Spouse who survives the Participant by at least 32 days, the Minor Child or Minor Children shall be eligible to receive in equal shares the monthly benefit that would have otherwise been paid to the Spouse (assuming the Spouse was the same age as the Participant). ..- (4) Minor Children: Commencement Date: Termination. If a Spouse who is otherwise eligible for benefits under subsection 7(a)(l) does not survive the Participant until the first day of the seventh (7th) month following the Participant's death, or if there is otherwise no Spouse who is eligible to -.. (Rev. 8-18-03) 3 ~ receive the in-service death benefit, then the monthly benefit payment to the Participant's surviving Minor Child or Minor Children shall commence as of the first day of the seventh (7th) month following the Participant's date of death. If an eligible Spouse who is receiving benefits pursuant to subsection 7(a)(2) dies while receiving benefits, benefit payments to the Participant's surviving Minor Child or Minor Children shall commence as of the first day of the month following the Spouse's death. A Minor Child shall no longer be eligible to receive benefit payments under this paragraph as of the date the Minor Child dies or no longer meets the definition of Minor Child in subsection 7(e) below. A Minor Child shall not be entitled to any increase in his benefit payment share in the event that another Minor Child of the Participant becomes ineligible to continue receiving benefit payments under this subsection 7(a). (5) Payment to Participant's Estate. This provision shall apply in the event that there is no Spouse or Minor Child eligible to receive the death benefit provided in this subsection 7(a), or in the event that all persons eligible to receive said benefit die or become ineligible to receive a death benefit. In such case, if the sum of all benefits paid under this subsection 7(a) do not equal the amount of employee contributions made by the Participant plus interest credited thereon, if any, then a lump sum payment in the amount of the difference will be paid to the Participant's estate, and no further benefits will be payable. Said payment shall not include any employee contributions or interest previously paid or returned from the Plan. ~ (b) In-Service Death Benefit for Class 1 and 2 Participants and Elected Officials Governed by Pre-July 1. 1999 Plan. Notwithstanding the provisions of subsection 7(a) above, if pursuant to the Ordinance approved April 19, 1999, a Participant elected to remain subject to the terms of the Pre-July 1, 1999 Plan, and if the employment or term of office of said Participant is terminated by reason of his death prior to Retirement, then a monthly benefit shall be payable to the Participant's surviving Spouse or Minor Children, if any, in accordance with and subject to the terms of Article VII, Section l(a) of the Pre-July 1, 1999 Plan, which are incorporated herein by reference. (c) Terminated Vested Death Benefit for Class 3 Participants and Elected Officials Governed by July 1. 1999 Plan. This subsection 7(c) shall apply to: 1) Class 3 Participants (as defined on p. 13 of the Adoption Agreement); 2) elected or appointed members of the Governing Authority and Municipal Legal Officers who initially take office on or after July 1, 1999; and 3) elected or appointed members of the Governing Authority and Municipal Legal Officers who, pursuant to the Ordinance approved April 19, 1999, elected to be covered by the terms of the July 1, 1999 Retirement Plan. (1) Spouse's Benefit: Elie:ibilitv - If a terminated vested Participant to whom this subsection 7(c) applies dies on or after January 1,2000 and prior to his effective Retirement date, a monthly benefit shall be payable to the Participant's Spouse, '-' (Rev. 8-18-03) 4 -., provided that: (i) the Participant has attained at least age (30) and has a vested right in his Retirement Benefit as of his date of death; and (ii) the Participant was legally married to his surviving Spouse for a minimum of one (1) year prior to the date of the Participant's death; and (iii) the Spouse survives until the benefit commencement date described in subsection (c)(3) below. (2) Benefit Amount. If the requirements of subsection 7(c)(1) are met, the Participant's surviving Spouse shall be eligible to receive a monthly benefit, computed as follows: -., (i) For those Participants with less than fifteen (15) years of Total Credited Service as of the date of death, the surviving Spouse's monthly benefit shall be equal to thirty percent (30%) of the Participant's accrued Monthly Retirement Benefit as of the date of death. (ii) For those Participants with fifteen (15) or more years of Total Credited Service as of the date of death, the surviving Spouse's monthly benefit shall be equal to forty-five percent (45%) of the Participant's accrued Monthly Retirement Benefit as of the date of death. (3) Benefit Commencement Date: Termination. Payment of benefits under Section 7(c)(2) above shall commence no earlier than the first day of the month following what would have been the Participant's earliest retirement date (Early or Normal Retirement Date, as applicable). A surviving Spouse shall no longer be eligible to receive any benefits under this subsection 7(c) upon the surviving Spouse's death. (4) Pavment to Participant's Estate. In the event that there is no Spouse eligible to receive the death benefit provided in this subsection 7(c), a lump sum payment in the amount of the Participant's employee contributions plus interest, if any, will be paid to the Participant's estate, and no further benefits will be payable. In the event that an eligible Spouse dies before the sum of all benefits paid to the Spouse equals the amount of the Participant's employee contributions plus interest, if any, then a lump sum payment in the amount of the difference will be paid to the Spouse's estate, and no further benefits will be payable. Payments made under this subsection (c)(4) will not include any employee contributions or interest previously paid or withdrawn from the Plan. (d) Terminated Vested Death Benefit for Class 1 and 2 Participants. and Elected Officials Governed bv Pre-July 1. 1999 Plan. Notwithstanding the provisions of subsection 7(c) above, if pursuant to the Ordinance approved April 19, 1999, a Participant elected (affirmatively or by default) to remain subject to the terms of the Pre-July 1, 1999 Plan, and the Participant dies after becoming vested and after termination of employment but before his effective Retirement date, then a monthly benefit may be payable to the Participant's surviving Spouse or Minor Children, if any, in accordance with and subject to the terms of Article VII, Section 1(b) of the Retirement Plan in effect on June 30, 1999 which are incorporated herein by reference. ~ -... (e) Definition of Minor Child. For purposes of subsections 7(a)-(d) above, the term "Minor Child" or "Minor Children" shall mean the natural or legally adopted child (Rev. 8-18-03) 5 or children of a Participant if such child or children are under the age of nineteen (19), or under the age of twenty-six (26) if enrolled in an accredited college or university on a full-time basis. ... (f) Secondary and Default Beneficiary Provisions of Master Plan Not Applicable. The provisions of the Master Plan concerning designation of secondary pre-retirement beneficiaries and payment to default pre-retirement beneficiaries shall not apply under this Plan. Instead, payment of pre-retirement death benefits shall be governed by the provisions ofsubsections 7(a)-(e) above. (g) Emplovee Contributions. -., (1) Authorization. Each Eligible Employee, elected or appointed member of the Governing Authority, or Municipal Legal Officer who meets the qualifications for participation in the Plan shall provide written authorization for the City to deduct from his Earnings any contributions required of him as provided in the Adoption Agreement and shall file such forms or information as shall be required by the Pension Committee, which shall include the individual's acceptance of the terms and conditions of the Plan. (2) Class 3 Participants May Withdraw Pre-July 1. 1999 Contributions Without Penalty Upon Termination. - A Class 3 Participant (as defined on p. 13 of the Adoption Agreement) shall be entitled to receive in a lump sum upon his Termination after January 1,2000 all employee contributions credited to his individual account up until June 30, 1999, plus five percent (5%) interest thereon compounded annually and applied once a year as of July 1, 2000 and each July 1 thereafter through the July 1 coinciding with or preceding the date of his Termination. Withdrawal of contributions in accordance with this subsection shall not result in the forfeiture of any service credit by the Participant. If the Participant has made employee contributions to the Plan after July 1, 1999, he may also request withdrawal of said contributions in accordance with and subject to the conditions of subsections (g)(4)-(9) below. Pre-July 1, 1999 employee contributions withdrawn pursuant to this subsection may not be repaid to the Plan upon a former Participant's return to employment with the Employer. If a Participant's employment is terminated by reason of death, then any amount payable pursuant to this paragraph shall be paid in a lump sum to the Participant's estate and no further benefit shall be payable under this subsection (g)(2). (3) Class 2 Participants Subiect to Rules of Predecessor Plan on Withdrawal of Employee Contributions. With respect to withdrawal of employee contributions made before and after July 1, 1999, Class 2 Participants (as defined on p. 14 of the Adoption Agreement) shall remain subject to the terms of Article III, Section 3d, and Article VII, Section 3b.- f. and Article IX, Section 1c. - e. of the Pre-July 1, 1999 Retirement Plan. Said terms are incorporated herein by reference. (4) Non-Vested Participants Required to Withdraw Post-July 1. 1999 Contributions Upon Termination. Except as provided in subsection (g)(3) above, if a non-vested Participant's employment is terminated for any reason ~ (Rev. 8-18-03) 6 -." other than death after July 1, 1999, he shall request that his employee contributions, if any, made on or after July 1, 1999 be withdrawn. (5) Vested Participants May Withdraw Contributions Made After July 1. 1999 Upon Termination Except as provided in subsection (g)(3) above, if a vested Participant's employment is terminated after July 1, 1999, for any reason other than death or Retirement, he may request that his employee contributions made on or after July 1, 1999 be withdrawn, unless he chooses to claim his vested benefit, in which case his employee contributions shall not be withdrawn pursuant to this subsection. (6) Procedure for Withdrawal. Upon the Participant's termination, the Pension Committee shall provide notice to the Participant of his opportunity to withdraw said employee contributions, and the Participant shall have sixty (60) days after receipt of such notice to submit a request for withdrawal on a form provided for that purpose. Failure to make such a request within this sixty (60) day period shall result in forfeiture of a vested Participant's right to request withdrawal upon termination and shall result in forfeiture of a non-vested Participant's right to the accrual of further interest. If the Participant withdraws his post-July 1, 1999 employee contributions pursuant to this subsection, he shall forfeit for himself, his heirs and assigns all of his rights, title, and interest in the Plan with respect to Service on or after July 1, 1999, and the amount of any benefit payable for Service prior to July 1, 1999 shall be determined in accordance with the terms of the Plan in effect on June 30, 1999, except as provided in subsection (g)(8) below. Employee contributions shall be returned to the Participant within ninety (90) days of receipt of the Participant's request. A partial withdrawal of employee contributions under this subsection is not permitted. (7) Interest on Post-July 1. 1999 Contributions. A Participant who timely requests withdrawal of his post-July 1, 1999 contributions shall be entitled to receive all employee contributions credited to his individual account from July 1, 1999 through the date of his termination, which shall include five percent (5%) interest on contributions made by the Participant, compounded annually and applied once a year as of July 1, 2000 and each July 1 thereafter through the July 1 coinciding with or preceding the date of his termination. (8) Repayment of Contributions. If a Participant withdraws his post July 1, 1999 employee contributions upon termination, and if he later resumes employment with the Employer in an Eligible Employee class, then any service credit or benefit amount he forfeited by virtue of his withdrawal may be reinstated upon his reemployment, provided that: 1) he satisfies the Plan's break in service rules, as applicable: 2) he repays all amounts previously withdrawn plus five percent (5%) interest compounded annually from the date of return of contributions through the date of repayment; and 3) the amount due is paid in full within six (6) months of his resumption of employment. To the extent permitted by applicable law and the Master Plan, Participants may utilize 457(b) trustee to trustee transfers or rollovers to effect said repayment. (9) No Withdrawal While Employed. A Participant may not withdraw his employee contributions from the Plan as long as he remains in the -." -- (Rev. 8-18-03) 7 employment of the City and he may not borrow against his employee contributions at any time. -.., (h) Former Employees Who Return to Employment After July 1. 1999. If an Employee or Retired Participant's employment or term of office with the City terminated prior to July 1, 1999 and he did not have the opportunity, pursuant to the Ordinance approved April 19, 1999, to elect whether to be covered by the terms of the Pre-July 1, 1999 Plan or the July 1, 1999 Plan, and if said former Employee or Retired Participant returns to employment with the Employer on or after July 1, 1999, then his rights and obligations under the Plan upon reemployment shall be determined in accordance with the terms of the July 1, 1999 Plan, as amended. However, if the Employee or Retired Participant's reemployment occurs more than one (1) year after his previous termination, then the amount of any retirement or death benefit payable to or on behalf of the Employee or Retired Participant for Service prior to July 1, 1999 shall be determined in accordance with the applicable benefit formula and the defmition of Final Average Earnings (if applicable) in effect as of the Employee or Retired Participant's previous termination. -., (i) Certain Former Class 1 Participants. If a Participant was classified as a Class 1 Participant under the Pre-July 1, 1999 Retirement Plan and the Participant terminated prior to July 1, 1999 without having the opportunity, pursuant to the Ordinance approved April 19, 1999, to elect whether to be covered by the terms of the Pre-July 1, 1999 Retirement Plan or the July 1, 1999 Plan, and if as provided in Article VII, Section 3d. of the Pre-July 1, 1999 Plan, the Participant had sufficient Total Credited Service but had not attained the required age upon his termination to qualify for Normal Retirement or Early Retirement pursuant to the Rule of Eighty- Five (85) or Article IV, Section 3a of the Predecessor Plan respectively, and if the Participant did not withdraw his employee contributions upon his prior termination, then the Participant shall continue to be eligible to apply for the former Class 1 Normal or Early Retirement benefit upon satisfying the age requirement for same. If said former Participant becomes reemployed with the City more than one (1) year after his previous termination of employment, then the amount of any retirement or death benefit payable to or on behalf of the Participant for Service prior to July 1, 1999 shall be determined in accordance with the applicable benefit formula and the definition of Final Average Earnings (if applicable) in effect as of the Participant's previous termination. U) Employer Contributions. The City shall make the necessary contributions to fund that portion of the Retirement Plan not met by employee contributions. The amount of these contributions shall be based upon the actuarial assumptions adopted by the Board of Trustees, the benefits provided in this Plan, the number of Participants and their respective ages, Earnings, and lengths of Creditable Service, and such other factors as the Board of Trustees shall deem appropriate to assure proper funding of this Plan. Contributions by the Employer shall be applied as necessary to assure the payment of Accrued Benefits to Participants and Beneficiaries. '....... -., (Rev. 8-18-03) 8 ..,. (k) Pension Committee. Board of Trustees. Claims. Amendment and Termination. Articles X through XIV of the July 1, 1999 Retirement Plan and Article II, Sections 4, 5, and 8 are incorporated herein by reference. All references to the Board of Trustees in the Master Plan and Adoption Agreement will be deemed to refer to the GMEBS Board of Trustees. Where there is a direct conflict between the requirements of the above Articles of the July 1, 1999 Plan and those of the Master Plan or Adoption Agreement, the provisions of the July 1, 1999 Plan will control. The GMEBS Board of Trustees will retain sole authority to amend the Master Plan as necessary to keep the Plan in compliance with the requirements of federal and state law, and the Smyrna Board of Trustees will abide by any such amendments in administering this Plan. (I) Trust Ae:reement. The terms of the April 19, 1999 Trust Agreement between the City of Smyrna, the Board of Trustees of the Retirement Plan for the City of Smyrna, and GMEBS are incorporated herein by reference and shall govern notwithstanding any provision of the GMEBS Master Plan, Adoption Agreement, or Trust Agreement to the contrary. (m) Definition of Earnine:s. Notwithstanding the definition of "Earnings" contained in Article II, Section 22 of the GMEBS Master Plan, "Earnings" shall be as defined in Article II, Section 15 of the July 1, 1999 Retirement Plan. The terms of the foregoing Addendum to the Adoption Agreement are approv~4.JDr the Mayor and Council of the City of Smyrna, Georgia this _ IS'" day of A--UJO ,2003, ~t~o,'II~ / .~ *lerk Mayor (SEAL) Ci The terms of the foregoing Addendum are approved by the Board of Trustees of the Georgia Municipal Employees' Benefit System. -.., (Rev. 8-18-03) 9 ., ....... -., IN WITNESS WHEREOF, the Board of Trustees of the Georgia Municipal Employees Benefit System has caused its Seal and the signatures of its duly authorized officers to be affixed this day of ,20_0 Board of Trustees Georgia Municipal Employees Benefit System (SEAL) Secretary (Rev. 8-18-03) 10