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RES 85525
City of Pleasanton
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RES 85525
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10/1/2012 3:32:48 PM
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12/29/1999 6:57:15 PM
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CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
11/5/1985
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APPENDIX A I <br /> <br /> ("EMPLOYER") <br /> <br /> DEFERRED COMPENSATION PLAN <br /> <br />I. INTRODUCTION include any amount excludablefrom gross income underthis <br />The Employer hereby establishes the Employer's Deferred Plan or any other plan described in section 457(b) of the <br />Compensation Plan, hereinafter referred to as the "Plan." The Plan Internal Revenue Code, any amount excludable from gross <br />consists of the provisions set forth in this document. income under section 403(b) of the Internal Revenue Code, <br />The primary purpose of this Plan is to provide retirement income or any other amount excludable from gross income for <br />and other deferred benefits to the Employees of the Employer in federal income tax purposes. Includible Compensation shall <br />accordance with the provisions of section 457 of the Internal be determined without regard to any community property <br />Revenue Code of 1954, as amended. laws. <br />This Plan shall be an agreement solely between the Employer 2.07 Joinder Agreement: An agreement entered into between an <br />and participating Employees. Employee and the Employer, including any amendments or <br /> modifications thereof. Such agreement shall fix the amount <br />II. DEFINITIONS of Deferred Compensation, specify a preference among the <br />2.01 Account: The bookkeeping account maintained for each investment alternatives designated by the Employer, <br />Participant reflecting the cumulative amount of the designate the Employee's Beneficiary or Beneficiaries. and <br />Participant's Deferred Compensation, including any income. incorporate the terms, conditions, and provisions of the Plan <br />gains, losses, or increases or decreases in market value by reference. <br />attributable to the Employer's investment of the Participant's 2.08 Normal Compensation: The amount of compensation which <br />Deferred Compensation, and further reflecting any distribu- would be payable to a Participant by the Employer for a <br />tions to the Participant or the Participant's Beneficiary and taxable year if no Joinder Agreement were in effect to defer <br />any fees or expenses charged against such Participant's compensation under this Plan. <br />Deferred Compensation. 2.09 Normal Retirement Age: Age 70, unless the Participant has <br />2.02 Administrator: The person or persons named to carry out elected an alternate Normal Retirement Age by written <br />certain nondiscretionary administrative functions under the instrument delivered to the Administrator prior to Separation <br />Plan. as hereinafter described. The Employer may remove from Service. A Participant's Normal Retirement Age <br />any person as Administrator upon 60 days advance notice in determines (a) the latest time when benefits may commence <br />writing to such person, in which case the Employer shall under this Plan (unless the Participant continues employ- <br />name another person or persons to act as Administrator. The ment after Normal Retirement Age), and (b) the period during <br />Administrator may resign upon 60 days advance notice in which a Participant may utilize the catch-up limitation of <br /> Section 5.02 hereunder. Once a Participant has to any extent <br />writing tothe Employer, in which the case the Employershall <br />name another person or persons to act as Administrator. utilized the catch-up limitation of Section 5.02. his Normal <br /> Retirement Age may not be changed. <br />2°03 Beneficiary: The person or persons designated by the A Participant's alternate Normal Retirement Age may not <br />Participant in his Joinder Agreement who shall receive any be earlier than the earliest date that the Participant will <br />benefits payable hereunder in the event of the Participant's become eligible to retire and receive unreduced retirement <br />death. benefits under the Employer's basic retirement plan covering <br />2.04 Deferred Compensation:TheamountofNormalCompensa- the Participant and may not be later than the date the <br />tion otherwise payable to the Participant which the Participant attains age 70. If a Participant continues <br />Participant and the Employer mutually agree to defer employment after attaining age 70, not having previously <br />hereunder, any amount credited to a Participant's Account by elected an alternate Normal Retirement Age, the Participant's <br />reason of a transfer under Section 6.03, or any other amount alternate Normal Retirement Age shall not be later than the <br />which the Employer agrees to credit to a Participant's mandatory retirement age, if any, established by the <br />Account. Employer, or the age at which the Participant actually <br /> separates from service if the Employer has no mandatory <br />2.05 Employee: Any individual who provides services for the retirement age. If the Participant will not become eligible to <br />Employer, whether as an employee of the Employer or as an <br />independent contractor. and who has been designated by the receive benefits under a basic retirement plan maintained by <br />Employer as eligible to participate in the Plan. the Employer, the Participant's alternate Normal Retirement <br /> Age may not be earlier than attainment of age 55 and may not <br />2.06 Includible Compensalion: The amount of an Employee's be later than attainment of age 70. <br />compensation from the Employer for a taxable year that is <br /> 2.10 Participanl: Any Employee who has joined the Plan pursuant <br />attributable to services performed for the Employer and that <br /> to the requirements of Article IV. <br />is includible in the Employee's gross income for the taxable <br />year for federal income tax purposes; such term does not 2.11 Plan Year: The calendar year. <br /> <br /> <br />
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