03-1411 ICMA City Manager Retirement Plan

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ICMA RETIREMENT CORPORATION GOVERNMENTAL MONEY PURCHASE PLAN & TRUST I. PURPOSE The Employer hereby adopts this Plan and Trust to provide funds for its Employees' retirement, and to provide funds for their Beneficiaries in the event of death, The benefits provided in this Plan shall be paid from the Trust. The Plan and the Trust forming a pan hereof are adopted and shall be maintained for the exclusive benefit of eligible Employees and their Beneficiaries. Except as provided in Sections 4,10 and 14.03, no part of the corpus or income of the Trust shall revert to the Employer or be used for or diverted ro purposes other than the exclusive benefit of Participants and their Beneficiaries. II. DEFINITIONS 2.01 Account. A separate record which shall be established and maintained under the Trust for each Participant, and which shall include all Participant subaccounts created pursuant ro Article IV, plus any Participant Loan Account created pursuant to Section 13,03. Each subaccount created pursuant to Article IV shall include any earnings of the Trusr and adjustments for withdrawals, and realized and unrealized gains and losses allocable therero. The term "Account" may also refer to any of such separate subaccounts. 2.02 Accounting Date. Each day that the New York Stock Exchange is open for trading, and such other dates as may be determined by the Plan Administrator, as provided in Section 6.06 for valuing the Trust's assets. 2.03 Adoption Agreement. The separate agreement execured by the Employer through which the Employer adopts the Plan and elects among the various alternatives provided thereunder, and which upon execution, becomes an integral part of the Plan. 2.04 Beneficiary. The person or persons designated by the Participant who, subject to the requirements of Article XII, shall receive any benefits payable hereunder in the event of the Participant's death. The designation of such Beneficiary shall be in writing ro the Plan Administrator. A Participant may designate primary and contingent Benefi- ciaries. Where no designated Beneficiary survives the Participant, the Participant's Beneficiary shall be his/her surviv- ing spouse or, if none, his/her estate. 2.05 Break in Service. A Period of Severance of at least rwelve (12) consecutive months. In the case of an individual who is absent from work for maternity or paternity reasons, the twelve (12) consecutive month period beginning on the first anniversary of the first date of such absence shall not constitute a Break in Serv- ice. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence (1) by reason of the pregnancy of the individual, (2) by reason of the birth of a child of the individual, (3) by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or (4) for purposes of caring for such child for a period beginning immediately following such birth or placement. 2.06 Code. The Internal Revenue eode of 1986, as amended from time to time, 2.07 Covered Employment Classification. The group or groups of Employees eligible ro make and/or have conrri. burions ro this Plan made on their behalf, as specified by the Employer in rhe Adoption Agreement. 2.08 Disability. A physical or mental impairment which is of such permanence and degree thar, as determined by the Employer, a Participant is unable because of such impairment [Q perform any substantial gainful activity for which he/she is suited by virtue of his/her experience, training, or education and that has lasted, or can be expected to last, for a continuous period of not less than twelve (12) months, or can be expected to result in death. The permanence !'viPI' 10/25/00 5