HomeMy WebLinkAbout690299.tiffRESOI LTIo'1 OF TILE WELD riot :1'I BOARD OF RETIREMENT
WHEREAS, hr resolution passed January 20, 1360, the County Board
of Retirement of Weld County, Colorado, did create the Weld County Retire-
ment Plan, and
WHEREAS, as the result of certain suggestions made by the Internal
Revenue Service, it is determined that the following amendments to the Weld
County Retirement Plan as adopted on January 29, 1969 are hereby made, to -
wit:
NOW, THEREFORE, BE: IT RE.SOLV.rED:
1. Delete Section 7. 3 in its entirety.
Amend Section 8. 2(a) in its entirety to read as follows:
''(a) Joint and Survivor Benefit Option. A benefit which
provides reduced monthly Retirement Benefit payments
during the Retired Member's Life, and upon his death
after retirement, continues payments in the same or
a lesser amount to a designated Beneficiary during
the life of such Beneficiary; provided, however, that
the designated Beneficiary for any joint and survivor
benefit elected under this Section 8. 2(a) must be the
Member's spouse."
3. Amend Section 10.2 by adding the following two sentences at the
end of this Section:
"NowevQr, in order to receive the refund of his Accumu-
lated Contributions, the Member must sign the application
form that ,. .,. "A ''y the Rini rement `Board for this pktr_
pose. The Accutioulated Contributions shop he refunded to
the tiember within Sixty (60) days after the lb'Pvmber signs
the application form.
690299
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•1. Amend the second p_rta4rahh. Qt Section 1 4..1 in its entirety
to read as follo::s:
'Nottc itisstandlnh any other urovision hereof, if the
Internal Revenue Service faits to grant initial qualifi-
cation of this Plan under the provisions of Section 401(a)
of the Internal Revenue Code, the Trustee or Insurance
Company shall return all contributions, together with the
pro rata share of income, less expenses, to the Members
who have contributed the same, and to the County. There-
upon, this Plan shall terminate."
5 Amend Section 14.6 by inserting "non -transferable" prior
to the word "annuity" as it appears in the fourth line of this
Section.
1r..e above and ` _agoinr Resolution as submitted by the County Board
of Retirement was duly approved by the fallowing vote on the23rd day of July, 1009,
AYES:
COUNTY BOARD OF RETIREMENT
WELD COUNTY, COLORADO
The above and foregoing Resolution was, on motion duly made and
seconded, approved by the following vote on the 23rd day of July, 1.969.
AYES:
BOARD OF' COUNTS COMI\TISSIONE L5
VCF: .O COUNTY, COLORADO
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(�,'i'itOVlli) AS TO l'ORVq:
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