HomeMy WebLinkAboutOrdinances - 04/30/2012STATE OF GEORGIA
COUNTY OF FULTON ORDINANCE NO. 12-03-130
AN ORDINANCE ACCEPTING THE RESTATED GEORGIA MUNICIPAL
EMPLOYEE BENEFIT SYSTEM OFFICIAL PLAN DOCUMENT FOR RETIREMENT
PROGRAM
An Ordinance to restate the Retirement Plan for the Employees of the City of Milton, Georgia in
accordance with and subject to the terms and conditions set forth in the attached Adoption
Agreement, any Addendum to the Adoption Agreement, the Georgia Municipal Employees
Benefit System (GMEBS) Master Plan Document, and the GMEBS Trust Agreement. When
accepted by the authorized officers of the 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 Milton, Georgia while in a Regular
called Council meeting on the 19th day of March, 2012 at 6:00 p.m. as follows:
SECTION 1. The Retirement Pian for the Employees of the City of Milton, Georgia is
hereby restated as set forth in and subject to the terms and conditions stated in the following
Adoption Agreement, any Addendum to the Adoption Agreement, the Georgia Municipal
Employees Benefit System (GMEBS) Master Plan Document, and the GMEBS Trust
Agreement;
SECTION 2. Except as otherwise specifically required by law or by the terms of the
Master Pian or Adoption Agreement (or any Addendum), 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 the date of its approval by the
Governing Authority; and;
SECTION 4. All Ordinances and parts of ordinances in conflict herewith are expressly
repealed.
ORDAINED the 19th day of March, 2012.
Attest:
J�7� 6 r -Z weq . —
Sadie AM Gordon, City tlerk
Joe Lock%voo yor
Page 2 of 2
GENERAL ADDENDUM TO THE
GEORGIA MUNICIPAL EMPLOYEES BENEFIT SYSTEM
DEFINED BENEFIT RETIREMENT PLAN
ADOPTION AGREEMENT
This is an Addendum to the Adoption Agreement completed by the City
of Milton, Georgia, as follows (complete one or more sections, as applicable):
*** Items (1) and (2) of Pre -Approved Addendum — Not Applicable ***
(3) Special Waiting Period Requirements for Regular _ Employees - (see
Section 11 of Adoption Agreement regarding Waiting Period) (check as
applicable):
® (a) No Waiting Period; Immediate Participation. Except as
otherwise provided below or where suspension of benefits is
required as provided in Section 6.06 of the Master Plan,
there will be no waiting period for participation under the
Plan. This provision shall apply to (check one):
❑ All Regular Employees.
® The following class(es) (the normal 1 -year waiting period
for participation will apply to all other Regular Employees)
(must specify): City Manager.
❑ (b) Alternative Waiting Period. Regular Employees shall be
required to complete (specify time period) 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. This alternative waiting period
provision shall apply to (check one):
❑ All Regular Employees.
❑ The following class(es) (the normal 1 -year waiting period
will apply to all other Regular Employees) (must specify):
[Repeat above subsection as necessary for each applicable waiting period and
Participant class covered under the Plan.]
City of Milton (2011-2012 Restatement)
* ** Items (4) through (13) of Pre -Approved Addendum -- Not Applicable * * *
The terms of the fore oing Addendum to the Adoption Agreement are
approved by the Dt: c'.L of the City of Milton, Georgia this
1 day of , 20_Z-.
Attest: CITY OF MIVr0N, GEORGIA
'�� I't ��
City Clerk
(SEAL)
Approved:
City Att n
Mayor
The terms of the foregoing Addendum 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 tU Agnatures. of
its uthorized officers to be affixed this day of
24_�
Board of Trustees
Georgia Municipal Employees
B efit System
(SEAL) fj4A
Secretary
-z-
City of Milton (2011-2012 Restatement)
GEORGIA MUNICIPAL EMPLOYEES
BENEFIT SYSTEM
DEFINED BENEFIT RETIREMENT PLAN
ADOPTION AGREEMENT
for
City of Milton
Form Volume Submitter Adoption Agreement
Amended and Restated as of January 1, 2047
City of Milton (2011-2012 Restatement)
TABLE OF CONTENTS
PAGE
I. AN ORDINANCE........................................................................................................................1
II. GMEBS DEFINED BENEFIT RETIREMENT PLAN ADOPTION AGREEMENT.. ............. 2
1. ADMINISTRATOR........................................................................................................2
2. ADOPTING EMPLOYER...............................................................................................2
3. GOVERNING AUTHORITY.........................................................................................2
4. PLAN REPRESENTATIVE ................................................................................... .........2
5. PENSION COMMITTEE................................................................................................3
6. TYPE OF ADOPTION ................................................• --.................................................3
7. EFFECTIVE DATE......................----......................................................................---3
S. PLAN YEAR................................................................................................... ...............5
9. CLASSES OF ELIGIBLE EMPLOYEES.......................................................................5
A. Eligible Regular Employees .............• ------....................................................5
B. Elected or Appointed Members of the Governing Authority ......................5
10. ELIGIBILITY CONDITIONS.......................................................................................6
A. Hours Per Week (Regular Employees)........................................................6
B. Months Per Year (Regular Employees).......................................................7
11. WAITING PERIOD .................... ...................................................................................
7
12. ESTABLISHING PARTICIPATION IN THE PLAN..................................................7
13. CREDITED SERVICE..................................................................................................7
A. Credited Past Service with Adopting Employer..........................................8
B. Prior Military Service..................................................................................9
C. Prior Governmental Service.......................................................................11
D. Leave Conversion for Unused Paid Time Off (e.g., Sick,
Vacation, or Personal Leave).....................................................................12
14. RETIREMENT ELIGIBILITY....................................................................................13
A. Early Retirement Qualifications................................................................13
B. Normal Retirement Qualifications.............................................................14
C. Alternative Normal Retirement Qualifications.. ........................................
15
D. Disability Benefit Qualifications...............................................................16
15. RETIREMENT BENEFIT COMPUTATION.............................................................17
A. Maximum Total Credited Service..............................................................17
B. Monthly Normal Retirement Benefit Amount...........................................17
C. Monthly Early Retirement Benefit Amount..............................................20
D. Monthly Late Retirement Benefit Amount (check one):...........................21
E. Monthly Disability Benefit Amount..........................................................21
F. Minimum/Maximum Benefit For Elected Officials..................................22
16. In-service distributions; cola........................................................................................22
A. Distributions For Those Who Remain In Service After
Normal Retirement.....................................................................................22
B. Cost Of Living Adjustment........................................................................23
C. Re -Employment After Retirement.............................................................23
17. TERMINATION OF EMPLOYMENT BEFORE RETIREMENT; VESTING .........25
City of Milton (2011-2012 Restatement) - 1 -
A. Eligible Regular Employees......................................................................25
B. Elected or Appointed Members of the Governing Authority ....................25
18. PRE -RETIREMENT DEATH BENEFITS.................................................................26
A. In -Service Death Benefit............................................................................26
B. Terminated Vested Death Benefit..............................................................27
19. EMPLOYEE CONTRIBUTIONS...............................................................................28
20. MODIFICATION OF THE TERMS OF THE ADOPTION AGREEMENT .............29
21. TERMINATION OF THE ADOPTION AGREEMENT............................................29
22. EMPLOYER ADOPTION AND AUTHORIZATION FOR AMENDMENTS .........29
City of Milton (2011-2012 Restatement) - 11 —
I. AN ORDINANCE
An Ordinance to restate the Retirement Plan for the Employees of the City of Milton,
Georgia in accordance with and subject to the terms and conditions set forth in the attached
Adoption Agreement, any Addendum to the Adoption Agreement, the Georgia Municipal
Employees Benefit System (GMEBS) Master Plan Document, and the GMEBS Trust
Agreement. When accepted by the authorized officers of the 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 ORDAIlNED by the Mayor and Council of the City of Milton, Georgia, and it is
hereby ordained by the authority thereof-
Section
hereof
Section 1. The Retirement Plan for the Employees of the City of Milton, Georgia is
hereby restated as set forth in and subject to the terms and conditions stated in the following
Adoption Agreement, any Addendum to the Adoption Agreement, the Georgia Municipal
Employees Benefit System (GMEBS) Master Plan Document, and the GMEBS Trust
Agreement.
[Ordinance continued on page 321
City of Milton (2011-2012 Restatement)
II. GMEBS DEFINED BENEFIT RETIREMENT PLAN
ADOPTION AGREEMENT
`l�:1005110I•�74IC1I
Georgia Municipal Employees Benefit System
201 Pryor Street, SW
Atlanta, Georgia 30303
Telephone: 404-688-0472
Facsimile: 404-577-6663
2. ADOPTING EMPLOYER
Name: City of Milton, Georgia
3. GOVERNING AUTHORITY
Name: Mayor and Council
Address: 1.3000 Deerfield Parkway, Suite 107-A, Milton, Georgia 30004-6119
Phone: (678) 242-2500
Facsimile: (678) 242-2499
4. PLAN REPRESENTATIVE
[To represent Governing Authority in all communications with GMEBS and Employees]
(See Section 2.46 of Master Plan)
Name: Director of Operations
Address: 13000 Deerfield Parkway, Suite 107-A, Milton, Georgia 30004-6119
Phone: (678) 242-2500
Facsimile: (678) 242-2499
E-mail:
City of Milton (2011-2012 Restatement) - 2 -
5. PENSION COMMITTEE
[Please designate members by position. If not, members of Pension Committee shall be
determined in accordance with Article 7JIV of Master Plan]
Position:
Position:
Position:
Position:
Position:
Position:
Position:
Pension Committee Secretary: Director of Human Resources
Address: 13000 Deerfield Parkway, Suite 107-A, Milton, Georgia 30004-6119
Phone: (678) 242-2500
Facsimile: (678) 242-2499
E-mail:
6. TYPE OF ADOPTION
This Adoption Agreement is for the following purpose (check one):
❑ This is a new defined benefit plan adopted by the Adopting Employer for its Employees.
This plan does not replace or restate an existing defined benefit plan.
® This is an amendment and restatement of the Adoption Agreement previously adopted by
the Employer, as follows (check one or more as applicable):
® To update the Plan to comply with EGTRRA and other applicable federal laws.
❑ To make the following amendments to the Adoption Agreement (must specify
below revisions made in this Adoption Agreement):
7. EFFECTIVE DATE
NOTE: This Adoption Agreement and any Addendum, with the accompanying Master Plan
Document, is designed to comply with Internal Revenue Code Section 401(a), as applicable to a
governmental qualified defined benefit plan, and is part of the GMEBS Defined Benefit
Retirement Plan. Plan provisions designed to comply with certain provisions of the Economic
Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) are effective for Plan Years
City of Milton (2011-2012 Restatement) - 3 -
beginning on and after January 1, 2002. Plan provisions designed to comply with certain
provisions of additional changes in federal law and guidance from the Internal Revenue Service
under Internal Revenue Service Notice 2007-3 (the 2006 Cumulative List) are effective as of the
applicable effective dates set forth in the Adoption Agreement and Master Plan Document. By
adopting this Adoption Agreement, with its accompanying Master Pian Document, the Adopting
Employer is adopting a plan document intended to comply with Internal Revenue Code Section
401(a), as updated by EGTRRA and the 2006 Cumulative List with the applicable effective
dates.
(1) Complete this item (1) only if this is a new defined benefit plan which does not replace
or restate an existing defined benefit plan.
The effective date of this Plan is
(insert effective date of this Adoption Agreement not earlier than January 1, 2007).
(2) Complete this item (2) only if this Plan is being adopted to replace a non-GMEBS
defined benefit plan.
Except as otherwise specifically provided in the Master Document or in this Adoption
Agreement, the effective date of this restatement shall be (insert effective date of
this Adoption Agreement not earlier than January 1, 2007). This Plan is intended to
replace and serve as an amendment and restatement of the Employer's preexisting plan,
which became effective on (insert original effective date of preexisting plan).
(3) Complete this item (3) only if this is an amendment and complete restatement of the
Adopting Employer's existing GMEBS defined benefit plan.
Except as otherwise specifically provided in the Master Document or in this Adoption
Agreement, the effective date of this restatement shall be the date of its approval by the
Governing _ Authnri (insert effective date of this Adoption Agreement not earlier
than January 1, 2007).
This Plan is adopted as an amendment and restatement of the Employer's preexisting
GMEBS Adoption Agreement, which became effective on April 1, 2007 (insert effective
date of most recent Adoption Agreement preceding this Adoption Agreement).
The Employer's first Adoption Agreement became effective April 1 2007 (insert effective
date of Employer's first GMEBS Adoption Agreement). The Employer's GMEBS Plan
was originally effective April 1, 2007 (insert effective date of Employer's original
GMEBS Plan), (If the Employer's Plan was originally a non-GMEBS Plan, then the
Employer's non-GMEBS Plan was originally effective (if applicable, insert
effective date of Employer's original non-GMEBS Plan).)
City of Milton (2011-2012 Restatement) - 4 -
Plan Year means (check one):
pe
8. PLAN YEAR
Calendar Year
Employer Fiscal Year commencing
Other (must specify month and day commencing)
Januar I — December 31.
9. CLASSES OF ELIGIBLE EMPLOYEES
Only Employees of the Adopting Employer who meet the Master Plan's definition of
"Employee" may be covered under the Adoption Agreement. Eligible Employees shall not
include non-governmental employees, independent contractors, leased employees, nonresident
aliens, or any other ineligible individuals, and this Section 9 must not be completed in a manner
that violates the "exclusive benefit rule" of Internal Revenue Code Section 401(a)(2).
A. Eli0ble Reggular 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.
❑ ALL REGULAR EMPLOYEES EXCEPT for the following employees (must specify):
B. Elected or Appointed Members of the Governing AuthoriV
An Adopting Employer may elect to permit participation in the Plan by elected or appointed
members of the Governing Authority and/or Municipal Legal Officers, provided they otherwise
meet the Master Plan's definition of "Employee" and provided they satisfy any other
requirements specified by the Adopting Employer. Municipal Legal Officers to be covered must
be specifically identified by position. Subject to the above conditions, the Employer hereby
elects the following treatment for elected and appointed officials:
(1) Elected or Appointed Members of the Governing Authority (check one):
E ARE NOT eligible to participate in the Plan.
❑ ARE eligible to participate in the Plan.
Please specify any limitations on eligibility to participate here (e.g., service on or after certain
date, or special waiting period provision):
City of Milton (2011-2012 Restatement) - 5 -
(2) Municipal Legal Officers (check one):
® ARE NOT eligible to participate in the Plan.
❑ ARE eligible to participate in the Plan. The term "Municipal Legal Officer" shall include
only the following positions (must specify):
Please specify any limitations on eligibility to participate here (e.g., service on or after certain
date):
10. ELIGIBILITY CONDITIONS
A. Hours Per Week (Re2ular_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:
❑ No minimum
❑ 20 hours/week (regularly scheduled)
❑ 30 hours/week (regularly scheduled)
E Other: 35 hours/week (must not exceed 40 hours/week regularly scheduled)
Exceptions: if a different minimum hour requirement applies to a particular class or classes of
Regular Employees, please specify below the classes to whom the different requirement applies
and indicate the minimum hour requirement applicable to them.
Class(es) of Regular Employees to whom exception applies (must specify):
Minimum hour requirement applicable to excepted Regular Employees:
❑ No minimum
❑ 20 hours/week (regularly scheduled)
❑ 30 hours/week (regularly scheduled)
❑ Other: (must not exceed 40 hours/week regularly scheduled)
City of Milton (2011-2012 Restatement) - b -
B. Months Per Year Re ular 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:
❑ No minimum
® At least 6 months per year (regularly scheduled)
p Other:
11. WAITING PERIOD
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.
12. ESTABLISHING PARTICIPATION IN THE PLAN
Participation in the Plan is considered mandatory for all Eligible Employees who satisfy the
eligibility conditions specified in the Adoption Agreement. 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 mage a written election to participate within 120 days after
employment, election or appointment to office, or if later, the date he first becomes eligible to
participate in the Plan. The election is irrevocable, and the failure to make the election within
the 120 day time limit shall be deemed an irrevocable election not to participate in the Plan.
Classes for wham participation is optional (leave blank and skip to Section 13 unless
participation is optional for one or more of the following classes):
❑ Elected or appointed members of the Governing Authority
❑ Municipal Legal Officers
❑ City Manager
❑ Department Heads
❑ Other (must specify; all individuals specified must be Eligible Employees):
13. CREDITED SERVICE
In addition to Current Credited Service the Adopting Employer may include as Credited
Service the following types of service:
City of Milton (2011-2012 Restatement) - 7 -
A. Credited Past Service with Adopting Employer
Credited Past Service means the number of years and complete months of Service with the
Adopting Employer prior to the date an Eligible Employee becomes a Participant which are
treated as credited service under the Plan.
(1) Eligible Employees Employed on Original Effective Date of GMEBS Plan.
With respect to Eligible Employees who are employed by the Adopting Employer on the original
Effective Date of the Employer's GMEBS Plan, Service with the Adopting Employer prior to the
date the Eligible Employee becomes a Participant (including any Service prior to the Effective
Date of the Plan) shall be treated as follows (check one):
® All Service prior to the date the Eligible Employee becomes a Participant shall be
credited (as Credited Past Service).
❑ All Service prior to the date the Eligible Employee becomes a Participant shall be
credited (as Credited Past Service), except for Service rendered prior to
(insert date).
❑
All Service prior to the date the Eligible Employee becomes a Participant shall be
credited (as Credited Past Service), except as follows (must specify other
limitation):
�1 No Service prior to the date the Eligible Employee becomes a Participant shall be
credited (as Credited Past Service).
(2) Previously Employed, Returning to Service after Original Effective Date. if
an Eligible Employee is not employed on the original Effective Date of the Employer's GMEBS
Plan, but he returns to Service with the Adopting Employer sometime after the Effective Date,
his Service prior to the date he becomes a Participant (including any Service prior the Effective
Date) shall be treated as follows (check one):
❑ All Service prior to the date the Eligible Employee becomes a Participant shall be
credited (as Credited Past Service), subject to any limitations imposed above with
respect to Eligible Employees employed on the Effective Date.
® All Service prior to the date the Eligible Employee becomes a Participant shall be
credited (as Credited Past Service), provided that after his return to employment,
the Eligible Employee performs Service equal to the period of the break in
Service or one (1) year, whichever is less. Any limitations imposed above with
respect to Eligible Employees employed on the Effective Date shall also apply.
❑ No Service prior to the date the Eligible Employee becomes a Participant shall be
credited (as Credited Past Service).
Other limitation(s) on Recognition of Credited Past Service (must specify):
City of Milton (2011-2012 Restatement) - 8 -
(3) Eligible Employees Initially Employed After Effective Date. If an Eligible
Employee's initial employment date is after the original Effective Date of the Employer's
GMEBS Plan, his Credited Past Service shall include only the number of years and complete
months of Service from his initial employment date to the date he becomes a Participant in the
Plan..
(4) Newly Eligible Classes of Employees. If a previously ineligible class of
Employees becomes eligible to participate in the Plan, the Employer must specify in an
addendum to this Adoption Agreement whether and to what extent said Employees' prior service
with the Employer shall be treated as Credited Past Service under the Plan.
B. Prior Military Service
Note: This Section does not concern military service required to be credited under
USERRA — See Section 3.02 of the Master Plan for rules on the crediting of USERRA
Military Service.
(1) Credit for Prior Military Service.
The Adopting Employer may elect to treat military service rendered prior to a Participant's initial
employment date or reemployment date as Credited Service under the Plan. Unless otherwise
specified by the Employer under "Other Conditions" below, the term "Military Service" shall be
as defined in the Master Plan. Except as otherwise required by federal or state law or under
"Other Conditions" below, Military Service shall not include service which is credited under any
other local, state, or federal retirement or pension plan.
Military Service credited under this Section shall not include any service which is otherwise
required to be credited under the Plan by federal or state law. Prior Military Service shall be
treated as follows (check one):
® Prior Military Service is not creditable under the Plan (if checked, skip to
Section B.C. — Prior Governmental Service).
❑ Prior Military Service shall be counted as Credited Service for the following
purposes (check one or more as applicable):
❑ Computing amount of benefits payable.
❑ Meeting minimum service requirements for vesting.
❑ Meeting minimum service requirements for benefit eligibility.
(2) Maximum Credit for Prior Military Service.
Credit for Prior Military Service shall be limited to a maximum of years (insert number).
City of Milton (2011-2012 Restatement) - 9 -
(3) Rate of Accrual for Prior Military Service.
Credit for Prior Military Service shall accrue at the following rate (check one):
❑ One month of military service credit for every month(s) (insert
number) of Credited Service with the Adopting Employer_
❑ One year of military service credit for every year(s) (insert number) of
Credited Service with the Adopting Employer.
❑ All military service shall be creditable (subject to any caps imposed above) after
the Participant has completed years (insert number) of Credited Service
with the Employer.
❑ Other requirement (must specify):
(4) Payment for Prior Military Service Credit(check one):
❑ Participants shall not be required to pay for military service credit.
❑ Participants shall be required to pay for military service credit as follows:
❑ The Participant must pay % of the actuarial cost of the service credit
(as defined below).
p The Participant must pay an amount equal to (must specify):
Other Conditions for Award of Prior Military Service Credit (must specify):
(5) Limitations on Service Credit Purchases. Unless otherwise specified in an
Addendum to the Adoption Agreement, for -purposes of this Section and Section 13.C.
concerning prior governmental service credit, the term "actuarial cost of service credit" means
the actuarial accrued liability relating to such prior service credit as determined by the GMEBS
actuary and calculated using the actuarial assumptions and methods employed in performing
GMEBS member plan valuations. 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.
City of Milton (2011-2012 Restatement) - to -
C. Prior Governmental Service
Note: Prior service with other GMEBS employers shall be credited as provided under the
Master Plan.
(1) Credit for Prior Governmental Service.
The Adopting Employer may elect to treat governmental service rendered prior to a Participant's
initial employment date or reemployment date as creditable service under the Plan. Subject to
any limitations imposed by law, the term "prior governmental service" shall be as defined by the
Adopting Employer below. The Employer elects to treat prior governmental service as follows
(check one):
® Prior governmental service is not creditable under the Plan (if checked, skip to
Section D.D. — Unused SickNacation Leave).
❑ Prior governmental service shall be counted as Credited Service for the following
purposes under the Plan (check one or more as applicable):
❑ Computing amount of benefits payable.
❑ Meeting minimum service requirements for vesting.
❑ Meeting minimum service requirements for benefit eligibility.
(2) Definition of Prior Governmental Service.
Prior governmental service shall be defined as follows: (must specify):
Unless otherwise specified above, prior governmental service shall include only full-time service
(minimum hour requirement same as that applicable to Eligible Regular Employees).
(3) Maximum Credit for Prior Governmental Service.
Credit for prior governmental service shall be limited to a maximum of years (insert
number).
(4) Rate of Accrual for Prior Governmental Service Credit.
Credit for prior governmental service shall accrue at the following rate (check one):
❑ One month of prior governmental service credit for every morith(s) (insert
number) of Credited Service with the Adopting Employer.
❑ One year of prior governmental service credit for every year(s) (insert
number) of Credited Service with the Adopting Employer.
City of Milton (2011-2012 Restatement) - 11 -
❑ All prior governmental service shall be creditable (subject to any caps imposed
above) after the Participant has completed years (insert number) of
Credited Service with the Adopting Employer.
❑ Other requirement (must specify):
(5) Payment for Prior Governmental Service Credit.
❑ Participants shall not be required to pay for governmental service credit.
❑ Participants shall be required to pay for governmental service credit as follows:
❑ The Participant must pay % of the actuarial cost of the service credit.
❑ The Participant must pay an amount equal to (must specify):
Other Conditions for Award of Prior Governmental Service Credit (must specify):
D. Leave Conversion for Unused Paid Time Off (e.s., Sick, Vacation, or Personal
Leave
(1) Credit for Unused Paid Time Off.
Subject to the limitations in Section 3.01 of the Master Plan, an Adopting Employer may elect to
treat accumulated days of unused paid time off for a terminated Participant as Credited Service.
The only type of leave permitted to be credited under this provision is leave from a paid time off
plan which qualifies as a bona fide sick and vacation leave plan (which may include sick,
vacation or personal leave) and which the Participant may take as paid leave without regard to
whether the leave is due to illness or incapacity. The Credited Service resulting from the
conversion of unused paid tune off must not be the only Credited Service applied toward the
accrual of a normal retirement benefit under the Plan. The Pension Committee shall be
responsible to certify to GMEBS the total amount of unused paid time off that is creditable
hereunder.
Important Note: Leave cannot be converted to Credited Service in lieu of receiving a cash
payment. If the Employer elects treating unused paid time off as Credited Service, the
conversion to Credited Service will be automatic, and the Participant cannot request a cash
payment for the unused paid time off.
The Employer elects the following treatment of unused paid time off:
® Unused paid time off shall not be treated as Credited Service (if checked, skip to
Section 14 — Retirement Eligibility).
❑ The following types of unused paid time off shall be treated as Credited Service
under the Plan (check one or more as applicable):
❑ Unused sick leave
❑ Unused vacation leave
City of Milton (2011-2012 Restatement) -12-
❑ Unused personal leave
❑ Other paid time off (must specify, subject to limitations in Section 3.01 of
Master Plan):
(2) Minimum Service Requirement.
In order to receive credit for unused paid time off, a Participant must meet the following
requirement at termination (check one):
❑ The Participant must be 100% vested in a nornr►al retirement benefit.
❑ The Participant must have at least years (insert number) of Total
Credited Service (not including leave otherwise creditable under this Section).
❑ Other (must specify, subject to limitations in Section 3.01 of Master Plan):
(3) Use of Unused Paid Time Off Credit. Unused paid time off shall count as
Credited Service for the following purposes under the Plan (check one or more as applicable):
❑ Computing amount of benefits payable.
❑ Meeting minimum service requirements for vesting.
❑ Meeting minimum service requirements for benefit eligibility.
(4) Maximum Credit for Unused Paid Time Off.
Credit for unused paid time off shall be limited to a maximum of months (insert number).
(5) Computation of Unused Paid Time Off.
Unless otherwise specified by the Adopting Employer under "Other Conditions" below, each
twenty (20) days of creditable unused paid time off shall constitute one (1) complete month of
Credited Service under the Plan. Partial months shall not be credited.
(G) Other Conditions (please specify, subject to limitations in Section 3.01 of
Master Plan):
14. RETIREMENT ELIGIBILITY
A. Early Retirement Qualifications
Early retirement qualifications are (check one or more as applicable):
® Attainment of age 55 (insert number)
® Completion of 10 years (insert number) of Total Credited Service
City of Milton (2011-2012 Restatement) - 13-
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):
Early retirement qualifications for excepted class(es) are (check one or more as applicable):
❑ Attainment of age (insert number)
❑ Completion of years (insert number) of Total Credited Service
B. Normal Retirement Qualifications
Note: Please complete this Section and also list "Alternative" Normal Retirement
Qualifications, if any, in Section 14.C.
(1) Regular Employees
Normal retirement qualifications for Regular Employees are (check one or more as applicable):
® Attainment of age 65 (insert number)
® Completion of 7 years (insert number) of Total Credited Service
Exceptions: if different normal retirement qualifications apply to a particular class or classes of
Regular Employees, the Employer must specify below the classes to whom the different
requirements apply and indicate below the requirements applicable to them.
Class(es) of Regular Employees to whom exception applies (must specify):
Normal retirement qualifications for excepted class(es) are (check one or more as applicable):
❑ Attainment of age (insert number)
❑ Completion of years (insert number) of Total Credited Service
(2) Elected or Appointed Members of Governing Authority
Complete this Section only if elected or appointed members of the Governing Authority or
Municipal Legal Officers are permitted to participate in the Plan. Normal retirement
qualifications for this class are (check one or more as applicable):
❑ Attainment of age
❑ Completion of
(insert number)
years (insert number) of Total Credited Service
City of Milton (2011-2012 Restatement) - 14 -
C. Alternative Normal Retirement Qualifications
Please skip to Section 14.D. - Disability Benefit Qualifications if the Adopting Employer
does not offer alternative normal retirement benefits under the Plan. The Employer may
elect to permit Participants to retire with unreduced benefits after they satisfy service and/or age
requirements other than the regular normal retirement qualifications specified above. The
Employer hereby adopts the following alternative normal retirement qualifications:
Alternative Normal Retirement Qualifications (check one or more, as applicable):
(1) ❑ Alternative Minimum Age & Service Qualifications. (if checked, please
complete one or more items below, as applicable):
❑ Attainment of age (insert number)
❑ Completion of years (insert number) of Total Credited
Service
This alternative normal retirement benefit is available to.-
All
o:
All Participants who qualify.
❑ Only the following Participants (must specify):
A Participant (check one): ❑ is required. ❑ is not required to be in the service of
the Employer at the time he satisfies the above qualifications in order to qualify
for this alternative normal retirement benefit.
Other eligibility requirement (must specify):
(2) ❑ Rule of (insert number). The Participant's combined Total Credited
Service and age must equal or exceed this number. Please complete additional
items below:
To qualify for this alternative normal retirement benefit, the Participant (check.
one):
❑ must have attained at least age (insert number)
❑ must not satisfy any minimum age requirement.
This alternative normal retirement benefit is available to:
❑ All Participants who qualify.
❑ Only the following Participants (must specify):
City of Milton (2011-2412 Restatement) - 15 -
A Participant (check one): ❑ is required ❑ is not required to be in the service of
the Employer at the time he satisfies the Rule in order to qualify for this
alternative normal retirement benefit.
Other eligibility requirement (must specify):
(3) ❑ 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:
❑ All Participants who qualify.
❑ Only the following Participants (must specify):
A Participant (check one): ❑ is required ❑ is not required to be in the service of
the Employer at the time he satisfies the qualifications for this alternative normal
retirement benefit.
Other eligibility requirement (must specify):
(4) ❑ Other Alternative Normal Retirement Benefit.
Must specify qualifications:
This alternative normal retirement benefit is available to:
❑ All Participants who qualify.
❑ Only the following Participants (must specify):
A Participant (check one): ❑ is required ❑ is not required to be in the service of
the Employer at the time he satisfies the qualifications for this alternative normal
retirement benefit.
Other eligibility requirement (must specify):
D. Disability Benefit Qualifications
Please skip to Section 15 - Retirement Benefit Computation if the Adopting Employer does
not offer disability retirement benefits under the Plan. Subject to the other terms and
conditions of the Master Plan and except as otherwise provided in an Addendum to this
Adoption Agreement, disability retirement qualifications are based upon Social Security
Administration award criteria or as otherwise provided under Section 2.21 of the Master Plan.
City of Milton (2011-2012 Restatement) -16-
The Disability Retirement benefit shall commence as of the Participant's Disability Retirement
Date under Section 2.22 of the Master Plan.
To qualify for a disability benefit, a Participant must have the following minimum number of
years of Total Credited Service:
E No minimum.
❑ years (insert number) of Total Credited Service.
Other eligibility requirement (must specify):
15. RETIREMENT BENEFIT COMPUTATION
A. Maximum Total Credited Service
The number of years of Total Credited Service which may be used to calculate a benefit is
(check one):
® not limited.
❑ limited to years.
❑ limited to years as an elected or appointed member of the Governing
Authority or Municipal Legal Officer.
B. Monthlv Normal Retirement Benefit Amount
(1) Regular Employee Formula
The monthly normal retirement benefit for Eligible Regular Employees shall be 1112 of (check
and complete one or more as applicable):
® (a) Flat Percentage Formula. 2.75% (insert percentage) of Final Average
Earnings multiplied by years of Total Credited Service as an Eligible
Regular Employee.
This formula applies to:
® All Participants who are Regular Employees.
❑ Only the following Participants (must specify):
❑ (b) Alternative Flat Percentage Formula. % (insert percentage) of
Final Average Earnings multiplied by years of Total Credited Service as
an Eligible Regular Employee. This formula applies to the following
Participants (must specify):
City of Milton (2011-2012 Restatement) -17-
❑ (c) Split Final Average Earnings Formula. % (insert percentage) of
Final Average Earnings up to the amount of Covered Compensation (see
subsection (2) below for definition of Covered Compensation), plus
% (insert percentage) of Final Average Earnings in excess of said
Covered Compensation, multiplied by years of Total Credited Service as
an Eligible Regular Employee.
This formula applies to:
❑ All Participants who are Regular Employees.
❑ Only the following Participants (must specify):
❑ (d) Alternative Split Final Average Earnings Formula. % (insert
percentage) of Final Average Earnings up to the amount of Covered
Compensation (see subsection (2) below for definition of Covered
Compensation), plus % (insert percentage) of Final Average
Earnings in excess of said Covered Compensation, multiplied by years of
Total Credited Service as an Eligible Regular Employee.
This formula applies to:
❑ All Participants.
❑ Only the following Participants (must specify):
[Repeat above subsections as necessary for each applicable benefit formula and Participant
class covered under the Pian.]
(2) Covered Compensation (complete only if Split Formula(s) is checked above):
Covered Compensation is defined as (check one or more as applicable):
❑ (a) A.I.M.E. Covered Compensation as defined in Section 2.16 of the
Master Plan. This definition of Covered Compensation shall apply to
(check one):
❑ All Participants who are Regular Employees.
❑ Only the following Participants (must specify):
❑ (b) Dynamic Break Point Covered Compensation as defined in Section 2.17
of the Master Plan. This definition of Covered Compensation shall apply
to (check one):
❑ All Participants who are Regular Employees.
❑ Only the following Participants (must specify):
City of Milton (2011-2012 Restatement) -18-
❑ (c) Table Break Point Covered Compensation as defined in Section 2.18 of
the Master Plan. This definition of Covered Compensation shall apply to
(check one):
❑ All Participants who are Regular Employees.
❑ Only the following class(es) of Participants (must specify):
❑ (d) Covered Compensation shall mean a Participant's annual Earnings that
do not exceed $ (specify amount). This definition shall
apply to (check one):
❑ All Participants who are Regular Employees.
❑ Only the following Participants (must specify):
(3) Final Average Earnings
Unless otherwise specified in an Addendum to the Adoption Agreement, Final Average Earnings
is defined as the annual average of Earnings paid to a Participant by the Adopting Employer for
the 5 (insert number not to exceed 5) 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.
This definition of Final Average Earnings applies to:
E All Participants who are Regular Employees.
❑ Only the following Participants (must specify):
[Repeat above subsection as necessary for each applicable definition and Participant class
covered under the Plan.]
(4) Formula for Elected or Appointed Members of the Governing Authority
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):
(insert dollar amount) per month for each year of Total Credited Service as
an elected or appointed member of the Governing Authority or Municipal Legal
Officer or major fraction thereof (6 months and 1 day).
This formula applies to:
❑ All elected or appointed members of the Governing Authority or Municipal Legal
Officers eligible to participate.
❑ Only the following elected or appointed members of the Governing Authority or
Municipal Legal Officers eligible to participate (must specify):
City of Milton (2011-2012 Restatement) -19-
[Repeat above subsection as necessary for each applicable formula for classes of elected or
appointed members covered under the Plan.1
C. Monthlv Earlv Retirement Benefit Amount
Check and complete one or more as applicable:
® (1) Standard Early Retirement Reduction Table. The monthly Early
Retirement benefit shall be computed in the same manner as the monthly
Normal Retirement benefit, but the benefit shall be reduced on an
Actuarially Equivalent basis in accordance with Section 12.01 of the
Master Plan to account for early commencement of benefits. This
provision shall apply to:
® All Participants.
❑ Only the following Participants (must specify):
❑ (2) Alternative Early Retirement Reduction Table. The monthly Early
Retirement benefit shall be computed in the same manner as the monthly
Normal Retirement benefit, but the benefit shall be reduced to account for
early commencement of benefits based on the following table. This table
shall apply to:
❑ All Participants.
❑ Only the following Participants (must specify):
Alternative Earlv Retirement Reduction Table
Number of Years Before
JAge (Insert Normal
Retirement Age)]
(check as applicable)
Percentage of
Normal Retirement Benefit*
(complete as applicable)
❑
0
1.000
❑
1
0.
❑
3
a.�
❑
4
Q.�
❑
5
0.
❑
7
0.
❑
5
0.
❑
9
0.
❑
10
0.
❑
11
0.
❑
12
0.
❑
13
0.
❑
14
0.
❑
1s
Q.�
City of Milton (2011-2012 Restatement) -20-
*Interpolate for whole months
D. Monthly Late Retirement Benefit Amount check one):
® (1) The monthly Late Retirement benefit shall be computed in the same
manner as the Normal Retirement Benefit, based upon the Participant's
Accrued Benefit as of his Late Retirement Date.
❑ (2) The monthly Late Retirement benefit shall be the greater of (1) the
monthly retirement benefit accrued as of the Participant's Normal
Retirement Date, actuarially increased in accordance with the actuarial
table contained in Section 12.06 of the Master Pian; or (2) the monthly
retirement benefit accrued as of the Participant's Late Retirement Date,
without further actuarial adjustment under Section 12.06 of the Master
Plan.
E. Monthh° Disabilitv 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 in the same manner
as the Normal Retirement benefit, based upon the Participant's Accrued Benefit as of his
Disability Retirement Date.
Minimum Disability Benefit. The Adopting Employer may set a minimum Disability Benefit.
The Employer elects the following minimum Disability benefit (check one):
❑ No minimum is established.
® No less than (check one): ® 20% ❑ 10% ❑ % (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. (Unless otherwise specified in an Addendum to the
Adoption Agreement, no minimum will apply to elected or appointed members of
the Governing Authority or Municipal Legal Officers.)
❑ No less than (check one): ❑ 66 213 % ❑ % (if other than 66 213°/x,
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. (Unless
otherwise specified in an Addendum to the Adoption Agreement, no minimum
will apply to elected or appointed members of the Governing Authority or
Municipal Legal Officers.)
City of Milton (2411-2012 Restatement) -21-
F. Minimum/Maximum Benefit 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 lave, 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):
❑ No minimum or maximum applies.
❑ Monthly benefit for Service as an elected or appointed member of the Governing
Authority may not exceed 100% of the Participant's final salary as an elected or
appointed member of the Governing Authority.
❑ Other minimum or maximum (must specify):
16. IN-SERVICE DISTRIBUTIONS; COLA
A. 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
benefit even though they have not yet terminated employment with the Employer, subject to the
terms of the Master Plan. However, in accordance with IRS requirements, even if the Employer
elects to permit in-service distributions and a Participant has otherwise satisfied the
qualifications for Normal Retirement or Alternative Normal Retirement in Sections 14.B. or
14.C. above, the Participant will not be permitted to take an in-service distribution unless the
Participant satisfies the applicable minimum age parameters set forth below. The Employer
makes the following election in this regard (check one):
® (1) Distribution of retirement benefits is not permitted until the Participant
has terminated employment and otherwise qualifies for receipt of benefits.
❑ (2) Participants who have satisfied the qualifications for Normal Retirement
or Alternative Normal Retirement, or, if higher, the minimum age
parameters set forth below, may begin drawing their Normal Retirement
benefit even though they remain in the service of the Employer. This
provision applies to (check one):
❑ All Participants
❑ Only Participants in the following classes (in-service distributions
not permitted for any others) (must specify):
Note: To be eligible for an in-service distribution, the Participant's age must meet the following
minimum age parameters:
For Participants who are not "public safety employees," the Participant must be at least
age 52 or older. Based upon GMEBS' most recent actuarial experience study, this age is
City of Milton (2011-2012 Restatement) -22-
reasonably representative of the typical retirement age for the GMEBS' member
municipalities/governmental entities (the "industry" in which members work). If the
Employer selects a Normal Retirement Age or Alternative Normal Retirement Age in
Section 14.13. or 14.C. that is at least age 62, the Plan's normal retirement age will fall
within the IRS pre -approved safe harbor.
■ For Participants who are "public safety employees," the Participant must be at least age
50 or older. If the Employer selects a Normal Retirement Age or Alternative Normal
Retirement Age in Section 14.B. or 14.C. that is at least age 50, the Plan's normal
retirement age will fall within the IRS pre -approved safe harbor for public safety
employees. Note: "Public safety employees" are defined under the Internal Revenue
Code for this purpose as employees of a State or political subdivision of a State who
provide police protection, firefighting services, or emergency medical services for any
area within the jurisdiction of such State or political subdivision.
B. Cost Of Livin_Adiustment
The Employer may elect to provide for an annual cost -of -living adjustment (COLA) in the
amount of benefits being received by Retired Participants and Beneficiaries, which shall be
calculated and paid in accordance with the terms of the Master Plan. The Employer hereby
elects the following (check ane):
E (1) No cost -of -living adjustment.
❑ (2) Variable Annual cost -of -living adjustment not to exceed % (insert
percentage).
❑ (3) Fixed annual cost -of -living adjustment equal to % (insert
percentage).
The above cost -of -living adjustment shall apply with respect to the following Participants (and
their Beneficiaries) (check one):
® All Participants (and their Beneficiaries).
❑ Participants (and their Beneficiaries) who terminate employment
on or after (insert date).
❑ Other (must specify):
C. Re -Employment After Retirement
(1) 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 reale shall apply (check one):
® (a) The Participant's benefit shall be suspended in accordance with Section
6.06(a) of the Master Plan for as long as the Participant remains employed.
City of Milton (2011-2012 Restatement) -23-
❑ (b) The Participant may continue to receive his retirement benefit in
accordance with Section 6.06(c) of the Master Plan. This rule shall apply
to (check one): ❑ all Retired Participants ❑ only the following classes of
Retired Participants (must specify - benefits of those Retired
Participants not listed shall be suspended in accordance with Section
6.06(a) of the Master Plan if they return to work with the Employer):
(2) 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):
® (a) The Participant's Early Retirement benefit shall be suspended in
accordance with Section 6.06(a) of the Master Plan for as long as the
Participant remains employed.
❑ (b) The Participant's eligibility to continue receiving Early Retirement
benefits shall be subject to the following limitations (if this item is
checked, check one of the following):
❑ (i) 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 Section 6.06(d) of the
Master Pian.
❑ (ii) The Participant may continue receiving his Early Retirement
benefit in accordance with Section 6.06(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 number 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 Section 6.06(4) of the Master Plan. This rule
shall apply to (check one): ❑ all Retired Participants ❑ only the
following classes of Retired Participants (must specify - benefits
of those Retired Participants not listed shall be suspended in
accordance with Section 6.06(a) of the Master Plan if they
return to work with the Employer):
City of Milton (2011-2012 Restatement) -24-
17. TERMINATION OF EMPLOYMENT BEFORE RETIREMENT;
VESTING
A. Eligible Regular Employees
Subject to the terms and conditions of the Master Plan, a Participant who is an Eligible Regular
Employee and whose employment is terminated for any reason other than death or retirement
shall earn a vested right in his accreted retirement benefit in accordance with the following
schedule (check one):
❑ No vesting schedule (immediate vesting).
® Cliff Vesting Schedule. Benefits shall be 100% vested after the Participant has a
minimum of 7 years (insert number not to exceed 10) of Total Credited Service.
Benefits remain 0% vested until the Participant satisfies this minimum.
❑ 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
%
5
%
7
%
8
%
9
%
19
%
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): City Manager.
Vesting Schedule for excepted class (must specify): Immediate Vesting (no vesting
requirements.
B. Elected or Appointed Members of the Governin2 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):
City of Milton (2011-2012 Restatement) -25-
❑ No vesting schedule (immediate vesting).
❑ Other vesting schedule (must specify):
18. PRE -RETIREMENT DEATH BENEFITS
A. In -Service Death Benefit
Subject to the terms and conditions of the Master Plan, the Employer hereby elects the following
in-service death benefit, to be payable in the event that an eligible Participant's employment with
the Employer is terminated by reason of the Participant's death prior to Retirement (check and
complete one):
(1) ® Auto A Death Benefit. A monthly benefit payable to the Participant's Pre -
Retirement Beneficiary, equal to the decreased monthly retirement benefit that
would have otherwise been payable to the Participant, had he elected a 100% joint
and survivor benefit under Section 7.03 of the Master Plan. In order to be eligible
for this benefit, a Participant must meet the following requirements (check one):
® The Participant must be vested in a normal retirement benefit.
❑ The Participant must have years (insert number) of Total
Credited Service.
❑ The Participant must be eligible for Early or Normal Retirement.
❑ Other eligibility requirement (must specify):
(2) ❑ 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):
❑ The Participant shall be eligible immediately upon becoming a Participant.
❑ The Participant must have years (insert number) of Total Credited
Service.
❑ 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):
❑ Total Credited Service accrued prior to the date of the Participant's death.
❑ Total Credited Service accrued prior to the date of the Participant's death,
plus (check ane): ❑ one-half ('/z) ❑ (insert other
City of Milton (2011-2012 Restatement) -26-
fraction) of the Service between such date of death and what would
otherwise have been the Participant's Normal Retirement Date.
Minimum In -Service Death Benefit for Vested Employees Equal to Terminated Vested Death
Benefit. Unless otherwise specified under "Exceptions" below, if a Participant's employment is
terminated by reason of the Participant's death prior to Retirement, and if as of the date of death
the Participant is vested but he does not qualify for the in-service death benefit, then the Auto A
Death Benefit will be payable, provided the Auto A Death Benefit is made available to
terminated vested employees under the Adoption Agreement (see "Terminated Vested Death
Benefit" below).
(3) Exceptions: If an in-service death benefit other than that specified above applies
to one or more classes of Participants, the Employer must specify below the death benefit
payable, the class(es) to whom the different death benefit applies, and the eligibility conditions
for said death benefit.
Alternative Death Benefit (must specify formula that complies with definitely determinable
requirements of Treasury Regulations Section 1.401-1(b)(1)(i) and does not violate limits
applicable to governmental plans under Code Sections 401(a)(17) and 415):
Participants to whom alternative death benefit applies (must specify):
Eligibility conditions for alternative death benefit (must specify):
B. Terminated Vested Death Benefit
(1) Complete this Section only if the Employer offers a terminated vested death
benefit. The Employer may elect to provide a terminated vested death benefit, to be payable in
the event that a Participant who is vested dies after termination of employment but before
Retirement benefits commence. Subject to the terms and conditions of the Master Plan, the
Employer hereby elects the following terminated vested death benefit (check one):
® Auto A Death Benefit. A monthly benefit payable to the Participant's Pre -
Retirement Beneficiary, equal to the decreased monthly retirement benefit that
would have otherwise been payable to the Participant had he elected a 100% joint
and survivor benefit under Section 7.03 of the Master Plan.
❑ 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 dare of death.
(2) Exceptions: If a terminated vested death benefit other than that specified above
applies to one or more classes of Participants, the Employer must specify below the death benefit
payable, the class(es) to whom the different death benefit applies, and the eligibility conditions
for said death benefit.
City of Milton (2011-2412 Restatement) -27-
Alternative Death Benefit (must specify formula that complies with definitely determinable
requirements of Treasury Regulations Section 1.401-1(b)(1)(i) and does not violate limits
applicable to governmental plans under Code Sections 401(x)(17) and 415):
Participants to whom alternative death benefit applies (must specify):
Eligibility conditions for alternative death benefit (must specify):
(1) Employee contributions (check one):
p Are not required.
❑ Are required in the amount of % (insert percentage) of Earnings for all
Participants.
® Are required in the amount of 3.0% (insert percentage) of Earnings for
Participants in the following classes (must specify): Eligible Regular Employees
emploved on or after April 1, 2007, commencine with the first payroll period
beginning on or after April 1, 2007.
[Repeat above subsection as necessary if more than one contribution rate applies.]
(2) Pre -Tax Treatment of Employee Contributions. If Employee Contributions
are required in Subsection (1) above, an Adopting Employer may elect to "pick up" Employee
Contributions to the Plan in accordance with IRC Section 414(h). In such case, Employee
Contributions shall be made on a pre-tax rather than a post -tax basis, provided the requirements
of IRC Section 414(h) are met. If the Employer elects to pick up Employee Contributions, it is
the Employer's responsibility to ensure that Employee Contributions are paid and reported in
accordance with IRC Section 414(h). The Adopting Employer must not report picked up
contributions as wages subject to federal income tax withholding.
The Employer hereby elects (check one):
® To pick up Employee Contributions. By electing to pick up Employee
Contributions, the Adopting Employer specifies that the contributions, although
designated as Employee Contributions, are being paid by the Employer in lieu of
Employee Contributions. The Adopting Employer confirms that the executor of
this Adoption Agreement is duly authorized to take this action as required to pick
up contributions. This pick-up of contributions applies prospectively, and it is
evidenced by this contemporaneous written document. On and after the date of
the pick-up of contributions, a Participant does not have a cash or deterred
election right (within the meaning of Treasury Regulation Section 1.401(k)-
l(a)(3)) with respect to the designated Employee Contributions, which includes
City of Milton (2011-2012 Restatement) -28-
not having the option of receiving the amounts directly instead of having them
paid to the Plan,
❑ Not to pick up Employee Contributions.
(3) Interest on Employee Contributions. The Adopting Employer may elect to pay
interest on any refund of Employee Contributions.
❑ Interest shall not be paid.
® Interest shall be paid on a refund of Employee Contributions at a rate established
by GMEBS from time to time.
❑ Other rate of interest (must specify rate, subject to the provisions of Section
13.06 of the Master Plan Document):
20. MODIFICATION OF THE TERMS OF THE ADOPTION
AGREEMENT
If an Adopting Employer desires to amend any of its elections contained in this Adoption
Agreement (or any Addendum), the Governing Authority by official action must adopt an
amendment of the Adoption Agreement (or any Addendum) or a new Adoption Agreement (or
Addendum) must be adopted and forwarded to the Board for approval. The amendment of the
new Adoption Agreement (or Addendum) is not effective until approved by the Board and other
procedures required by the Plan have been implemented.
The Administrator will timely inform the Adopting Employer of any amendments made by the
Board to the Plan.
21. TERMINATION OF THE ADOPTION AGREEMENT
This Adoption Agreement (and any Addendum) may be terminated only in accordance with the
Plan. The Administrator will inform the Adopting Employer in the event the Board should
decide to discontinue this volume submitter program.
22. EMPLOYER ADOPTION AND AUTHORIZATION FOR
AMENDMENTS
Adoption. The Adopting Employer hereby adopts the terms of the Adoption Agreement and any
Addendum, which is attached hereto and made a part of this resolution. The Adoption
Agreement (and, if applicable, the Addendum) sets forth the Employees to be covered by the
Plan, the benefits to be provided by the Adopting Employer under the Plan, and any conditions
imposed by the Adopting Employer with respect to, but not inconsistent with, the Plan. The
Adopting Employer reserves the right to amend its elections under the Adoption Agreement and
any Addendum, so long as the amendment is not inconsistent with the Plan or the Internal
Revenue Code or other applicable law and is approved by the Board of Trustees of GMEBS.
The Adopting Employer acknowledges that it may not be able to rely on the volume submitter
advisory letter if it makes certain elections under the Adoption Agreement or the Addendum.
City of Milton (2011-2012 Restatement) - 29 -
The Adopting Employer hereby agrees to abide by the Master Plan, Trust Agreement, and rules
and regulations adopted by the Board of Trustees of GMEBS, as each may be amended from
time to time, in all matters pertaining to the operation and administration of the Plan. It is
intended that the Act creating the Board of Trustees of GMEBS, this Plan, and the rules and
regulations of the Board are to be construed in harmony with each other. In the event of a
conflict between the provisions of any of the foregoing, they shall govern in the following order:
(1) The Act creating the Board of Trustees of The Georgia Municipal Employees'
Benefit System, O.C.G.A. Section 47-5-1 et seq. (a copy of which is included in
the Appendix to the Master Defined Benefit Plan Document) and any other
applicableprovisionsof O.C.G.A. Title 47;
(2) The Master Defined Benefit Plan Document and Trust Agreement;
(3) This Ordinance and Adoption Agreement (and any Addendum); and
(4) The rules and regulations of the Board.
In the event that any section, subsection, sentence, clause or phrase of this Plan shall be declared
or adjudged invalid or unconstitutional, such adjudication shall in no manner affect the
previously existing provisions or the other section or sections, subsections, sentences, clauses or
phrases of this Plan, which shall remain in frill 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.
This Adoption Agreement (and any Addendum) may only be used in conjunction with Georgia
Municipal Employees Benefit System Master Defined Benefit Retirement Plan Document
approved by the Internal Revenue Service under advisory letter M591996a dated March 31,
2010. The Adopting Employer understands that failure to properly complete this Adoption
Agreement (or any Addendum), or to operate and maintain the Plan and Trust in accordance with
the terms of the completed Adoption Agreement (and any Addendum), Master Plan Document
and Trust, may result in disqualification of the Adopting Employer's Plan under the Internal
Revenue Code. Inquiries regarding the adoption of the Plan, the meaning of Plan provisions, or
the effect of the IRS advisory letter should be directed to the Administrator. The Administrator
is Georgia Municipal Employees Benefit System, with its primary business offices located at:
201 Pryor Street, SW, Atlanta, Georgia, 30303. The business telephone number is: (404) 688-
0472. The primary person to contact is: GMEBS Legal Counsel.
Authorization for Amendments. Effective on and after February 17, 2005, the Adopting
Employer hereby authorizes Ice Miller LLP, Legal Counsel, the volume submitter practitioner
who sponsors the Plan on behalf of GMEBS, to prepare amendments to the Plan, for approval by
the Board, on its behalf as provided under Revenue Procedure 2005-16 and Announcement
2005-37. Employer notice and signature requirements have been met for the Adopting Employer
before the effective date of February 17, 2005. The Adopting Employer understands that the
implementing amendment reads as follows:
City of Milton (2011-2012 Restatement) -30-
On and after February 17, 2005, the Board delegates to the Practitioner the
authority to advise and prepare amendments to the Plan, for approval by the
Board, on behalf of all Adopting Employers, including those Adopting Employers
who have adopted the Plan prior to the January 1, 2007, restatement of the Plan,
for changes in the Code, the regulations thereunder, revenue rulings, other
statements published by Internal Revenue Service, including model, sample, or
other required good faith amendments (but only if their adoption will not cause
such Plan to be individually designed), and for corrections of prior approved
plans. These amendments shall be applied to all Adopting Employers. Employer
notice and signature requirements have been met for all Adopting Employers
before the effective date of February 17, 2005. 1n any event, any amendment
prepared by the Practitioner and approved by the Board will be provided by the
Administrator to Adopting Employers.
Notwithstanding the foregoing paragraph, no amendment to the Plan shall
be prepared on behalf of any Adopting Employer as of either:
the date the Internal Revenue Service requires the Adopting
Employer to file Form 5300 as an individually designed plan as a
result of an amendment by the Adopting Employer to incorporate a
type of Plan not allowable in a volume submitter plan as described
in Revenue Procedure 2005-16; or
as of the date the Plan is otherwise considered an individually
designed plan due to the nature and extent of the amendments.
If the Adopting Employer is required to obtain a determination letter for
any reason in order to maintain reliance on the advisory letter, the Practitioner's
authority to amend the Plan on behalf of the Adopting Employer is conditioned on
the Plan receiving a favorable determination letter.
The Adopting Employer further understands that, if it does not give its authorization
hereunder or, in the alternative, adopt another pre -approved plan, its Plan will become an
individually designed pian and will not be able to rely on the volume submitter advisory letter.
City of Milton (2011-2012 Restatement) -31 -
AN ORDINANCE (continued from page 1)
Section 2. Except as otherwise specifically required by law or by the terms of the Master
Plan or Adoption Agreement (or any Addendum), the rights and obligations under the Plan with
respect to persons whose employment 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 the date of its approval by the
Governing Authority.
Section 4. All Ordinances and parts of ordinances in conflict herewith are expressly
repealed.
Approvedy the Mayor and Council of the City of Milton, Georgia this �10day of
I� �4 20—IZ--•
Attest: . . CITY OF)4LTN, GEO
City Clerk■''
r ayo
:3 ..
A.
(SEAL) t_
k. r rte.
Approved: ■
City Att
The terms of the foregoing Adoption Agreement are approved by the Board of Trustees
of Georgia Municipal Employees Benefit System.
IN WITNESS WHEREOF, the Board of Trustees of Georgia Municipal Employees
Benef S tem has caused t ea'1 d the signatures of i s dul authorized officers to be affixed
this�day of , 20�
Board of Trustees
(SEAL)
City of Milton (2011-2012 Restatement) -32-
Georgia Municipal Employees
nefit System
Secretary