TC Res. No. 1998-31RESOLUTION NO. 98-31
SERIES OF 1998
A RESOLUTION AMENDING THE TOWN OF AVON PUBLIC
EMPLOYEES MONEY PURCHASE PENSION PLAN ADOPTED
NOVEMBER 9,1090; POLICE OFFICERS MONEY PURCHASE PENSION PLAN
ADOPTED NOVEMBER 9,1990; AND FIREFIGHTERS MONEY PURCHASE
PENSION PLAN ADOPTED JANUARY 8, 1991.
WHEREAS, the attached amendments to the Town of Avon Public Employees,
Police Officers, and Firefighters Money Purchase Pension Plans have been drafted and
presented to Council; and
WHEREAS, these amendments are intended to keep the plans in good standing as
"qualified plans" under applicable provisions of the Internal Revenue Code.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF AVON, COLORADO:
Section 1. The amendment to the Town of Avon Public Employees Money
Purchase Pension, a copy of which is attached to this resolution, is hereby approved and
to be effective July 1, 1998.
Section 2. The.amendment to the Town of Avon Police Officers Money Purchase
Pension, a copy of which is attached to this resolution,- is hereby approved and to be
effective July 1, 1998.
Section 3. The amendment to the Town of Avon Firefighters Money Purchase
Pension, a copy of which is attached to this resolution, is hereby approved and to be
effective July 1, 1998.
ADOPTED AND APPROVED this 26b day of May, 1998.
ATTEST:
TOWN OF AVON, COLORADO
q LA.
Jack awcett, Mayor
Towif Clerk
Amendment to
Town of Avon Public E=Iovees
Money Purchase Pension Plan '
THIS AMENDMENT is made by the Town of Avon (hereinafter referred to as
the "Employer").
WHEREAS, the Town Council adopted the Town of Avon Public Employees
Money Purchase Pension Plan (hereinafter referred to as the "Plan') on November 9,
1990; and
WHEREAS, Article XIV of the Plan provides in part as follows:
"The Employer shall have the right at any time; and from time to time to: (a)
Amend this Plan in such manner as it may deem necessary or advisable..."; and
WHEREAS, the Employer now desires to amend the Plan to make certain
changes.
NOW, THEREFORE; the Employer does hereby amend the Plan in the following
particulars:
ARTICLE VIII
Section 8.2(b) of the Plan (page VIII-1) is hereby amended in its entirety as
follows:
(b) matching Employer Contributions made after October 1, 1990:
Percentage Vested and
Years of Service Nonforfeitable
2 Years
40%
3 Years
60%
4 Years
80%
5 Years
100%
IN WITNESS WHEREOF, the Employer has executed this Amendment by the
Mayor of the Town of Avon as of the 26th day of May, 1998.
The Town of Avon
By
Ma or
Amendment to
Town of Avon Police Officers
Money Purchase Pension Plan
THIS AMENDMENT is made by the Town of Avon (hereinafter referred to as
the `Employer").
WHEREAS, the Town Council adopted the Town of Avon Police Officers Money
Purchase Pension Plan (hereinafter referred to as the "Plan") on November 9, 1990; and
WHEREAS, Article XIV of the Plan provides in part as follows:
"The Employer shall have the right at any time, and from time to time to: (a)
Amend this Plan in such manner as it may deem necessary or advisable..."; and
WHEREAS, the Employer now desires to amend the Plan to make certain
changes.
NOW, THEREFORE, the Employer does hereby amend the Plan in the following
particulars:
ARTICLE VIII
Section 8.2(b) of the Plan (page VIII-1) is hereby amended in its entirety as
follows:
(b) participants hired after September 30, 1990:
Percentage Vested and
Years of Service Nonforfeitable
2 Years
40%
3 Years
60%
4 Years
80%
5 Years
100%
IN WITNESS WHEREOF, the Employer has executed this Amendment by the
Mayor of the Town of Avon as of the 26 h day of May, 1998.
The Town of Avon
By-q a,
M yor
Amendment to
Town of Avon Firefi h~ ters
Money Purchase Pension Plan
THIS AMENDMENT is made by the Town of Avon (hereinafter referred to as
-the `Employer").
WHEREAS, the Town Council adopted the Town of Avon Firefighters Money
Purchase Pension Plan (hereinafter referred to as the "Plan") on January 8, 1991; and
WHEREAS, Article )UV of the Plan provides in part as follows:
"The Employer shall have the right at any time, and from time to time to: (a)
Amend this Plan in such manner as it may deem necessary or advisable..." 6 and
WHEREAS, the Employer now desires to amend the Plan to make certain
changes.
NOW, THEREFORE, the Employer does hereby amend the Plan in the following
particulars:
ARTICLE VIII
Section 8.2(c) of the Plan (page VIII-2) is hereby amended in its entirety as
follows:
(c) participants hired after September 30, 1990:
Percentage Vested and
Years of Service Nonforfeitable
2 Years
40%
3 Years
60%
4 Years
80%
5 Years
100%
IN WITNESS WHEREOF, the Employer has executed this Amendment by the
Mayor of the Town of Avon as of the 26 h day of May, 1998.
The Town of Avon,
13
M or