03-1411 ICMA City Manager Retirement Plan

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ICMA RETIREMENT CORPORATION GOVERNMENTAL MONEY PURCHASE PLAN & TRUST EGTRRA AMENDMENT PREAMBLE A. Adoption and effective date of amendment, This Amendment of the ICMA Retirement Corpotation Governmental Money Purchase Plan & Trust (the "Plan") and its Adoption Agteement is adopted to reflect certain provisions of the Economic Growth and Tax Relief Reconciliation Act of 200 1 ("EGTRRA"). This Amendment is intended as good faith compliance with the requirements of EGTRRA and is to be construed in accordance with EGTRRA and guidance issued thereunder. Except as otherwise provided, this Amendment shall be effective as of the first day of the first Plan Yeat beginning after December 31, 2001 and shall end December 31, 2010, unless otherwise extended by law or other- wise. B. Supersession of inconsistent provisions, This Amendment shall supersede the provisions of the Plan and Adoption Agreement to the extent those provisions are inconsistent with the provisions of this Amend- ment. Section 1. Limitations on Contributions A. Effective date, This Section shall be effective for Limitation Years beginning after December 31, 2001. B. Maximum annual addition. The maximum Annual Addition that may be contributed or allocated to a Participant's Account under the Plan for any Limitation Year shall not exceed the lesser of: (i) $40,000, as adjusted for increases in the cost-of-living under section 415(d) of the Code, or (ii) One hundred percent (100%) of the Participant's Compensation for the Limitation Year. The compensation limit referred to in (ii) shall not apply to any contribution for medical benefits after separation from service (within the meaning of section 401(h) or section 419A(f)(2) of the eode) which is otherwise treated as an Annual Addition, Section 2. Increase in Earnings Limit A. In general, For Plan Years beginning on or after January 1, 2002, the annual Earnings of each Participant taken into account in determining all benefits provided under the Plan for any Plan Year shall not exceed $200,000, as adjusted for increases in the cost-of-living in accordance with section 401 (a)(17) (B) of the eode, Annual Earnings means Earnings during the Plan Year or such othet consecutive 12-monrh period over which Earnings is otherwise determined under the Plan (the determination period). The cost-of- living adjustment in effect for a calendar year applies to annual Earnings for the determination period that begins with or within such calendar year. B. Prior years. If Earnings for any prior determination period are taken ioro account in determining a Participant's allocations or benefits for the current Plan Year, the Earnings for such prior year are subject to the applicable annual Earnings limit in effect for that prior year. MPP 10/25/00 2 '-