HomeMy WebLinkAbout20043413.tiff CERTIFICATE
Weld County
We, the members of the Retirement Board for the County of Weld, State of Colorado, do
hereby certify that a true and correct copy of Amendment No. Three to the Weld County
Retirement Plan (As Amended and Restated Effective July 1, 2000) was adopted by Resolution
of the Weld County Board of Retirement on the /7/-1 day of , 2003.
IN WITNESS WHEREOF, we have hereunto affixed our names this Q.2 1day of
, 2003.
/GELD COU:gRD OF RETIREMENT
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WITNESS:
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2004-3413
RESOLUTION OF THE
WELD COUNTY BOARD OF RETIREMENT
WHEREAS, the Weld County Retirement Plan (the "Plan") has heretofore been
created by Resolution of the Weld County Board of Retirement hereafter referred to as
the "Retirement Board"; and
WHEREAS, the Plan was amended and restated by action of the Retirement
Board, effective July 1, 2000 and;
WHEREAS, the Plan has been further amended by Amendments No. One and
Two; and
WHEREAS, Section 14.2 permits the Retirement Board and the County
Commissioners to amend the Plan from time to time.
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
(1) That the Plan be amended by Amendment No. Three effective January 1,
2003.
(2) Amendment No. Three, copies of which have been presented to the
Retirement Board at this meeting, be and it hereby is approved and adopted effective as
of January 1, 2003.
(3) The Retirement Board be and they hereby are authorized to execute
forthwith Amendment No. Three effective January 1, 2003, and to do all other acts and
things necessary and proper to keep the Plan and its Retirement Fund in full force and
effect and to make such amendments and changes, if any, as may be necessary to
maintain the qualification of the Plan and Retirement Fund under the applicable sections
of the Internal Revenue Code of 1986, as amended from time to time.
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AMENDMENT NO. THREE TO THE
WET D COUNTY RETIREMENT PLAN
(AS AMENDED AND RESTATED EFFECTIVE JULY 1, 2000)
Pursuant to the authority of the Weld County Board of Retirement and the
provisions of Section 14.2 of the Weld County Retirement Plan (As Amended and
Restated Effective July 1, 2000) (the "Plan"), the Plan is hereby amended, effective
January 1, 2003, as follows:
1. Section 9.1 of the Plan is amended in its entirety to read as follows:
"Section 9.1 Death of an Active Member. In the event a Member of the Plan
dies while accruing Current Service, the following death benefits shall be payable:
(a) If such Member is married at his death, one of the
following benefits shall be payable to his spouse, at her sole option.
(1) Two (2) times the amount of his Accumulated
Contributions as of the date of death, payable immediately; or
(2) A monthly benefit payable for life in an amount
equal to 75% of the Member's Accrued Benefit on his date of
death. Such death benefit shall commence on the first day of the
month coincident with or following the Members' death.
(b) If such Member is not married at his death, there shall be
paid to the Beneficiary designated by him if said Beneficiary is living,
or otherwise to the Member's estate, two (2) times the amount of his
Accumulated Contributions as of his date of death."
2. Section 9.3 is deleted and replaced with the following:
"9.3 [Reserved]"
3. Section 9.5 of the Plan is amended in its entirety to read as follows:
"9.5 Death of a Member Before Contributions Recovered. At the termination of
Retirement Benefit payments following the death of a Retired Member, should the
total of such payments made to the Member and his Beneficiary be less than the
amount of the Member's Accumulated Contributions at the date his Retirement
Benefit payments commenced, the difference shall be paid in a single sum to the
Beneficiary, if living, or to the estate of the last survivor of the Member or his
Beneficiary.
At the termination of death benefit payments made to the surviving spouse of a
deceased married Active or Vested Member, should the total of such payments made
to the surviving spouse be less than the amount of the Member's Accumulated
Contributions at the date the death benefit payments commenced, the difference shall
be paid in a single sum to the estate of the surviving spouse."
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The foregoing Amendment No. Three to the Plan, as submitted to the Weld
County Board of Retirement, was duly approved by the following vote on the J-4 day
of 14it O. , 2003.
WITNESS: WELD COUNTY BOARD OF RETIREMENT
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