HomeMy WebLinkAbout810468.tiff • RESOLUTION
RE: APPROVAL OF THE WELD COUNTY BOARD OF RETIREMENT AMENDMENT TO THE WELD
COUNTY RETIREMENT PLAN.
WHEREAS, the Board of County Commissioners of Weld County, Colorado,
pursuant to Colorado statute and the Weld County Home Rule Charter, is vested
with the authority of administering the affairs of Weld County, Colorado, and
WHEREAS, the Weld County Retirement Plan has heretofore been created by
Resolution of the Weld County Board of Retirement, and the Board of County
Commissioners of Weld County, Colorado, and
WHEREAS, the actuaries for the aforesaid plan have recommended an
amendment which is believed to be in the best interest of the present and
future members of the plan, said amendment to be effective January 1, 1981, and
WHEREAS, said amendment is believed to be non-discriminatory and in
conformance with Section 4O1(a) and other applicable portions of the Internal
Revenue Code of 1954, as amended.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, that the Weld County Retirement Plan be, and hereby is
amended to reflect the amendment contained in the Resolution of the Weld
County Board of Retirement which Resolution was passed on Sept. 17, 1981 by
action of the Weld County Board of Retirement, a copy of said Resolution
setting out said amendment is attached hereto and incorporated herein by
reference.
810468
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The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following vote on the 21th day of September , A.D. , 1981.
ATTEST: • BOARD OF COUNTY COMMISSIONERS
/ ' -_ - .' ' � WELD COUNTY, COLORADO
Weld County Clerk and Recorder
and Clerk to the Board
By: f." , .. : /1? '
- Deputy County Clerk
APPROVED AS TO FORM:
/�//L�/
�6 /e ("417 Zell >92a/County Attorney
ate Presented: September 21, 1981
RESOLUTION OF THE WELD COUNTY BOARD OF RETIREMENT
AMENDING THE WELD COUNTY RETIREMENT PLAN
WHEREAS, The Weld County Retirement Plan has heretofore been created by
resolution of the Weld County Board of Retirement; and
WHEREAS, the actuaries for the aforesaid Plan have recommended amendments
which are believed to be in the best interest of the present and future
members of the Plan, such amendments to take effect on January 1, 1981; and
WHEREAS, all of said amendments are believed to be nondiscriminatory and
in conformance with Section 401(a) and other applicable provisions of the
Internal Revenue Code of 1954, as amended.
NOW, THEREFORE BE IT RESOLVED THAT The Weld County Retirement Plan be, and
hereby is amended as follows:
1. Amend Section 2.1(f) in its entirety to read:
(f) "Compensation" shall mean the regular periodic
compensation paid to the Employee, reflecting the normal
regular salary or hourly wage rate, before any payroll
deductions for income tax, Social Security, group
insurance, or any other purpose, excluding bonuses, extra
pay, overtime pay, worker's compensation, contributions by
the County under this Plan, or for Social Security, group
insurance, retainers' fee under contract, or the like, but
including any deferred compensation used to purchase
nonforfeitable annuities qualified under Section 403(b) of
the Internal Revenue Code.
2. Amend Section 2.1(v) in its entirety to read:
(v) "Final Average Annual Compensation" means a
Member's average Compensation received during his three
highest-paid full consecutive calendar years of Credited
Service within his last ten consecutive calendar years of
Credited Service. If a Member has less than three full
consecutive calendar years of Credited Service, his Final
Average Annual Compensation shall be his average annual
Compensation received during all full successive calendar
years of Credited Service, not to exceed three years.
• The foregoing resolution was submitted and duly approved by the County
Board of Retirement on theLLth day of Seotemher , 1981.
t 4
/7/421(-1r4
COUNTY BOARD OF RETIREMENT OF
WELD COUNTY, COLORADO
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