Reso 2010-068 - Laserfiche WebLink

Home

ARTICLE 13. AMENDMENT AND TERMINATION 13.01. Amendments. A. The City Council and the City Manager of the Employer reserves the right to amend this Plan and the Trust at any time without the consent of the Administrator, the Advisory Committee, any Trustee, any fiduciary, or any Participant or Beneficiary; provided, however, that except in accordance with the provisions of the Plan or as otherwise specifically permitted by law, no such amendment shall: 1. Cause any of the assets of the Trust to be used for or diverted to purposes other than for the exclusive benefit of Participants and their Beneficiaries; 2. Have any retroactive effect so as to deprive any Participant or Beneficiary of any nonforfeitable benefits, except that such changes may be made as may be required to permit the Plan and the Trust to meet the requirements of Code section 457, or any similar statutes enacted in lieu thereof; or 3. Increase the duties or liabilities of the Trustee without the Trustee's consent. B. The City Manager has the right to adopt the following amendments to the Plan: 1. An' amendment that is designed to clarify any provision of the Plan; 2. An amendment that is designed to bring the Plan into compliance with applicable federal or State law ar the regulations of the Internal Revenue Service including a restatement; or 3. An amendment that would not have significant financial impact on the Plan or the Employer. C. Any such Plan amendment shall be made by means of a written instrument identified as an amendment of the Plan effective as of a specified date. D. Notwithstanding any other provision of the Plan to the contrary, if there is a scrivener's error in properly transcribing the provisions of this Plan, it shall not be a violation of the Plan terms to operate the Plan in accordance with its proper provisions, rather than in accordance with the terms of the Plan, pending correction of the Plan through amendment. In addition, any provisions of the Plan improperly added as a result of scrivener's error shall be considered null and void as of the date such error occur-ed. 13.02. No Amendment Tv Reduce Prior Eamed Benefits. Except as otherwise specifically permitted by law, the Employer shall not have the right to modify or amend the Plan retroactively in such manner as to deprive any Participant or Beneficiary of any benefit to which such Participant or Beneficiary was entitled under the Plan by reason of contributions made prior thereto, unless such modification or amendment is necessary to conform the Plan to, or to satisfy the conditions of, any law, governmental regulations or rulings, and to permit the Plan and the Trust to meet the requirements of Code section 457 or any similar statutes enacted in lieu thereof. 34