2010-50RESOLUTION NO. 2010-50
COUNCIL MEMBER ABBOTT INTRODUCED THE FOLLOWING RESOLUTION:
BE IT RESOLVED BY THE MAYOR AND THE CITY COUNCIL OF BLAIR,
NEBRASKA:
1. Adoption of Amendment of the City of Blair, Nebraska Civilian Employees'
Pension Plan: NOW, BE IT RESOLVED, that the City shall amend and it hereby does
adopt an Amendment to the City of Blair, Nebraska Civilian Employees' Pension
Plan (the "Civilian Plan ") in the form of the Amendment document attached hereto
and by this reference fully incorporated herein. The purpose of said Amendment is
to adopt certain changes enacted under the Pension Protection Act of 2006, the
Heroes Earnings Assistance and Relief Tax Act of 2008, and the Worker, Retiree,
and Employer Recovery Act of 2008.
2. Adoption of Amendment of the City of Blair, Nebraska Blair Police Retirement
Plan and Trust: NOW, BE IT RESOLVED, that the City shall amend and it hereby
does adopt an Amendment to the City of Blair, Nebraska Blair Police Retirement
Plan and Trust (the "Police Plan ") in the form of the Amendment document attached
hereto and by this reference fully incorporated herein. The purpose of said
Amendment is to adopt certain changes enacted under the Pension Protection Act
of 2006, the Heroes Earnings Assistance and Relief Tax Act of 2008, and the Worker,
Retiree, and Employer Recovery Act of 2008.
Authorizations: NOW, THEREFORE, BE IT FURTHER RESOLVED, that the
Mayor and other appropriate elected officials and officers of the City of Blair shall be,
and they hereby are, authorized to do all things necessary to carry out and accomplish
the foregoing Resolutions, including the execution of any document or amendment
which may be necessary or appropriate to amend and administer the aforesaid Plans,
including such actions as may be necessary or appropriate to achieve and maintain
tax qualification of the aforesaid Plans under Section 401(a) of the Internal Revenue
Code of 1986, as amended.
COUNCIL MEMBER ABBOTT MOVED THAT THE RESOLUTION ION BE ADOPTED AS READ,
WHICH SAID MOTION WAS SECONDED BY COUNCIL MEMBER JENSEN. UPON ROLL
CALL, COUNCIL MEMBERS SHEPARD, STEWART, FANOELE, CHRISTIANSEN,
KEPHART, JENSEN, WOLFF AND ABBOTT VOTING "AYE" AND COUNCIL MEMBERS
NONE VOTING "NAY ", THE MAYOR DECLARED THE FOREGOING RESOLUTION
PASSED AND APPROVED THIS 23RD DAY OF NOVEMBER, 2010.
11 11 1 111 " 111 111-010� i . a � . . 11
B
%JE E. REALPH, MAYOR
BREN R WHEELER CITY CLER
(SEAL)
STATE OF NEBRASKA )
) :ss:
WASHINGTON COUNTY )
BRENDA R. WHEELER, hereby certifies that she is the duly appointed, qualified and acting City
Clerk of the City of Blair, Nebraska, and that the above and foregoing Resolution was passed and
adopted at a regular meeting of the Mayor and City Council of said City, held on the 23rd day of
November, 2010.
BREN
AMENDMENT
CITY OF BLAIR, NEBRASKA BLAIR POLICE RETIREMENT PLAN AND TRUST
The City of Blair, Nebraska Blair Police Retirement Plan and Trust (the "Plan "),
as amended and restated effective January 1, 2008, is hereby further amended in
accordance with the provisions of this Amendment to incorporate requirements under
the Pension Protection Act of 2006, the Heroes Earnings Assistance and Relief Tax Act
of 2008, and the Worker, Retiree and Employer Recovery Act of 2008.
Section 3.6 of the Plan is hereby amended and replaced in its entirety to provide
as follows:
"3.6 Eligible Rollover Distributions Notwithstanding any provision of the
Plan to the contrary that would otherwise limit a distributee's election
under this Section, a distributee may elect, at the time and in the manner
prescribed by the Retirement Committee, to have any portion of an eligible
rollover distribution paid directly to an eligible retirement plan specified by
the distributee in a direct rollover. For purposes of this Section 3.6, the
following definitions shall apply:
(1) Eligible Rollover Distribution: An eligible rollover distribution is any
distribution of all or any portion of the balance of the Participant's
Nonforfeitable Accrued Benefit that is credited to the distributee, except
that an eligible rollover distribution does not include: any distribution that
is one of a series of substantially equal periodic payments (not less
frequently than annually) made for the life (or life expectancy) of the
distributee or the joint lives (or joint life expectancies) of the distributee
and the distributee's Designated Beneficiary, or for a specified period of
ten years or more; any portion of a distribution to the extent such
distribution is a required minimum distribution under Section 401(a)(9) of
the Internal Revenue Code; any hardship distribution (if permitted by the
Plan); and any portion of a distribution that is not includible in gross
income (determined without regard to the exclusion for net unrealized
appreciation with respect to employer securities).
For purposes of this Section 3.6, a portion of a distribution shall not fail to
be an eligible rollover distribution merely because the portion consists of
after -tax employee contributions or other amounts which are not includible
in gross income. However, such portion may be transferred only to an
individual retirement account or annuity described in Sections 408(a) or
408(b) of the Internal Revenue Code, or to a qualified plan described in
Sections 401(a) or 403(b) of the Internal Revenue Code that provides for a
separate account for amounts so transferred (and earnings thereon),
including separately accounting for the portion of such distribution which is
includible in gross income and the portion of such distribution which is not
so includible. An eligible rollover distribution to a non - spouse Designated
Beneficiary must be made by a direct trustee -to- trustee transfer. A
distribution of amounts which are 2009 RMDs or Extended RMDs (both as
defined in Section 13.2(d) of the Plan) shall be treated as an eligible
rollover distribution in 2009.
(2) Eligible Retirement Plan: An eligible retirement plan is an individual
retirement account described in Section 408(a) of the Internal Revenue
Code, an individual retirement annuity described in Section 408(b) of the
Internal Revenue Code, an annuity plan described in Section 403(a) of the
Internal Revenue Code, an annuity contract described in Section 403(b) of
the Internal Revenue Code, an eligible plan under Section 457(b) of the
Internal Revenue Code which is maintained by a state, political
subdivision of a state, or any agency or instrumentality of a state or
political subdivision of a state, or a qualified trust described in Section
401(a) of the Internal Revenue Code that accepts the distributee's eligible
rollover distribution and which agrees to separately account for amounts
transferred into such plan from this Plan. The definition of "Eligible
Retirement Plan" shall also apply in the case of a distribution to a surviving
spouse, or to a spouse or former spouse who is the alternate payee under
a qualified domestic relations order, as defined in Section 414(p) of the
Internal Revenue Code. For purposes of a distribution on behalf of a
Designated Beneficiary who is not a spouse or former spouse of the
Participant, "Eligible Retirement Plan" shall mean an individual retirement
account described in Section 408(a) of the Internal Revenue Code or an
individual retirement annuity described in Section 408(b) of the Internal
Revenue Code established for the purpose of receiving a distribution on
behalf of the Designated Beneficiary and that will be treated as an
inherited IRA pursuant to the provisions of Section 402(c)(11) of the
Internal Revenue Code. For distributions made after December 31, 2007,
an "Eligible Retirement Plan" shall include a Roth IRA described in Section
408A of the Internal Revenue Code.
(3) - Distributee: A distributee includes a Participant or former
Participant, and the Participant's surviving spouse or former spouse who
is an alternate payee under a qualified domestic relations order, as
defined in Section 414(p) of the Internal Revenue Code. Effective January
1, 2007, "Distributee" shall also include a Participant's Designated
Beneficiary who is not the Participant's surviving spouse or former spouse,
including a trust that qualifies as a Designated Beneficiary under.Section
401(a)(9)(E) of the Internal Revenue Code.
(4) Direct Rollover. A direct rollover is a payment by the Plan to the
eligible retirement plan specified by the distributee."
2
Distributions which are not subject to the foregoing may commence less
than thirty (30) days after notice to the distributee is given, provided that (i)
the Retirement Committee clearly informs the distributee that the
distributee has a right to a period of at least thirty (30) days after receiving
the notice to consider the decision of whether or not to elect a distribution
(and, if applicable, a particular option), and (ii) the distributee, after
receiving the notice, affirmatively elects a distribution).
The last paragraph of Section 4.3 of the Plan is hereby amended and replaced in
its entirety to provide as follows:
"Notwithstanding any provision of this Plan to the contrary, contributions,
benefits and service credit with respect to qualified military service will be
provided in accordance with Section 414(u) of the Internal Revenue Code.
Beginning January 1, 2009, any Participant who receives differential wage
payments as defined in Section 3401(h)(2) of the Internal Revenue Code
that are paid to a Participant by the Employer during a period of qualified
military service shall, for purposes of this Plan, be considered as an
Employee, the wage differential payment shall be treated as
Compensation, and the Participant shall be eligible to make Employee
Contributions or Voluntary Contributions and to receive allocations of
Matching Employer Contributions with respect to such Compensation that
is attributable to the wage differential payments.
The Plan shall not be treated as failing to meet the requirements of any
provisions described in Section 414(u)(1)(C) of the Internal Revenue Code
by reason of any contribution to the Plan that is based on the differential
wage payment; provided, however, this exception applies only if all
Employees of the Employer performing service in the uniformed services
described in Section 3401(h)(2)(A) of the Internal Revenue Code are
entitled to receive differential wage payments on reasonably equivalent
terms and, if eligible to participate in the Plan or any other retirement plan
of the Employer, to make contributions based on the differential wage
payments on reasonably equivalent terms."
Section 9.01 of the Plan is hereby amended by the addition of the following
provisions to the end of such Section:
"For purposes of the death benefit provided under the Plan, in the case of
a death of a Participant occurring on or after January 1, 2007, while
performing qualified military service (as defined in Section 414(u) of the
3
Internal Revenue Code), the Participant's Beneficiary(ies) shall be entitled
to any additional death benefit (other than accrued benefits relating to the
period of qualified military service) provided under the Plan as if the
Participant had returned to employment and then incurred a Termination
of Employment on account of the Participant's death."
W
Section 13.2 of the Plan is hereby amended by the addition of a new
subparagraph (d) at the end of such Section 13.2 as follows:
"(d) No Required Minimum Distributions for 2009 Notwithstanding the
foregoing requirements of this Section 13.2 of the Plan, a Participant or
Beneficiary who would have been required to receive minimum
distributions for 2009 but for the enactment of Section 401(a)(9)(H) of the
Internal Revenue Code ( "2009 RMDs "), and who would have satisfied that
requirement by receiving distributions that are (1) equal to the 2009 RMDs
or (2) one or more payments in a series of substantially equal distributions
(that include the 2009 RMDs) made at least annually and expected to last
for the life (or life expectancy) of the Participant, the joint lives (or joint life
expectancy) of the Participant and the Participant's Designated
Beneficiary, or for a period of at least 10 years ( "Extended 2009 RMDs "),
will receive those distributions for 2009 unless the Participant or
Beneficiary chooses not to receive such distributions. Participants and
Beneficiaries described in the preceding sentence will be given the
opportunity to elect to receive the distribution described in the preceding
sentence. In addition, notwithstanding Section 3.6 of the Plan, and solely
for the purposes of applying the direct rollover provisions of the Plan, 2009
RMDs and Extended 2009 RMDs, will be treated as Eligible Rollover
Distributions."
0
n ,• _ _ ��� l the ll_._ L. U b y e %d,4; +ice► -% r%f n new w Se tin 13 Wi
11
f Iicle X! I! o1 the Plan is I ICI eby al I ( ende d by a is auiuvi I vi a 1-
as follows:
"13.15 Consent to Distributions and Waiver of Certain Notice Periods for
Distributions Any distribution to a Participant under this Plan which
requires such Participant's consent, shall not be made until the required
consent is provided by the Participant. A Participant shall be informed of
his or her right to defer receipt of the distribution and such other
information and disclosures that may be required under the Income Tax
Regulations to the Code. If a Participant fails to consent, it shall be
deemed an election to defer the commencement of payment of any
benefits. However, any election to defer the receipt of benefits shall not
apply with respect to distributions which are required under Section 13.2
M
of the Plan. A distribution may commence after any required notice is
given provided that: (i) the Plan Administrator clearly informs the
Participant that the Participant has a right to a period of at least thirty (30)
days after receiving the notice to consider the decision of whether or not to
elect a distribution (and, if applicable, a particular distribution option), and
(ii) the Participant, after receiving notice, affirmatively requests a
distribution."
VI.
The foregoing amendments to the Plan shall supersede the existing provisions of
the Plan to the extent those provisions are inconsistent with the provisions of this
Amendment. The remaining terms and provisions of the Plan are hereby confirmed and
ratified in all respects except insofar as the foregoing provisions of this Amendment
amend the same.
IN WITNESS WHEREOF, the City of Blair, Nebraska, as Employer, has caused
this Amendment to the Plan to be executed by its duly authorized official, and the
Trustee has caused this Amendment to be executed this day of
C)'4 C , 2010.
THE CITY OF BLAIR, NEBRASKA,
Employer
By. kN'
� 'Cial Title:
TREASURER OF THE CITY OF BLAIR,
NEBRASKA, Trustee
DOCS/1003599.1
5
AMENDMENT TO THE
CITY OF BLAIR, NEBRASKA CIVILIAN EMPLOYEES' PENSION PLAN
The City of Blair, Nebraska Civilian Employees' Pension Plan (the "Plan "), as amended
and restated effective January 1, 2008, is hereby further amended in accordance with the
provisions of this Amendment to incorporate requirements under the Pension Protection Act of
2006, the Heroes Earnings Assistance and Relief Tax Act of 2008, and the Worker, Retiree and
Employer Recovery Act of 2008..
Section 6.01(C) of the Plan is hereby amended and replaced in its entirety to provide as
follows:
"(C) Direct Rollover of Eligible Rollover Distributions. A Participant or
other distributee may elect, at the time and in the manner prescribed by the
Advisory Committee, to have any portion of his Eligible Rollover Distribution paid
directly to an Eligible Retirement Plan specified by the distributee in a Direct
Rollover. For purposes of this Section 6.01(C), the following definitions apply:
(1) "Eligible Rollover Distribution" means any distribution of all or any portion
of the balance of the Participant's Nonforfeitable Accrued Benefit that is credited
to the distributee, except that an eligible rollover distribution does not include:
any distribution that is one of a series of substantially equal periodic payments
(not less frequently than annually) made for the life (or life expectancy) of the
distributee or the joint lives (or joint life expectancies) of the distributee and the
distributee's Designated Beneficiary, or for a specified period of ten years or
more; any portion of a distribution to the extent such distribution is a required
minimum distribution under Code § 401(a)(9); any hardship distribution (if
permitted by the Plan); and any portion of a distribution that is not includible in
gross income (determined without regard to the exclusion for net unrealized
appreciation with respect to employer securities).
For purposes of this Section 6.01(C), a portion of a distribution shall not fail to be
an eligible rollover distribution merely because the portion consists of after -tax
employee contributions or other amounts which are not includible in gross
income. However, .such portion may be tr ansfer red o nly to any i� �dividual
retirement account or annuity described in Code §§ 408(a) or 408(b), or to a
qualified plan described in Code §§ 401(a) or 403(b) that provides for a separate
account for amounts so transferred (and earnings thereon), including separately
accounting for the portion of such distribution which is includible in gross income
and the portion of such distribution which is not so includible. An eligible rollover
distribution to a non - spouse Designated Beneficiary must be made by a direct
trustee -to- trustee transfer. A distribution of amounts which are 2009 RMDs or
Extended RMDs (both as defined in Section 6.02(E) of the Plan) shall be treated
as an eligible rollover distribution in 2009.
(2) . "Eligible Retirement Plan" is an individual retirement account described in
Code § 408(a), an individual retirement annuity described in Code § 408(b), an
annuity plan described in Code § 403(a), an annuity contract described in Code §
403(b), an eligible plan under Code § 457(b) which is maintained by a state,
political subdivision of a state, or any agency or instrumentality of a state or
political subdivision of a state, or a qualified trust described in Code § 401(a) that
accepts the distributee's eligible rollover distribution and which agrees to
separately account for amounts transferred into such plan from this Plan. The
definition of "Eligible Retirement Plan" shall also apply in the case of a
distribution to a surviving spouse, or to a spouse or former spouse who is the
alternate payee under a qualified domestic relations order, as defined in Code §
414(p). For purposes of a distribution on behalf of a Designated Beneficiary who
is not a spouse or former spouse of the Participant, "Eligible Retirement Plan"
shall mean an individual retirement account described in Code § 408(a) or an
individual retirement annuity described in Code § 408(b) established for the
purpose of receiving a distribution on behalf of the Designated Beneficiary and
that will be treated as an inherited IRA pursuant to the provisions of Code §
402(c)(11). For distributions made after December 31, 2007, an "Eligible
Retirement Plan" shall include a Roth IRA described in Code § 408A.
(3) "Distributee" includes a Participant or former Participant, and the
Participant's surviving spouse or former spouse who is an alternate payee under
a qualified domestic relations order, as defined in Code § 414(p). Effective
January 1, 2007, "Distributee" shall also include a Participant's Designated
Beneficiary (as defined in Section 6.02(D)(1)) who is not the Participant's
surviving spouse or former spouse, including a trust that qualifies as a
Designated Beneficiary under Code § 401(a)(9)(E).
(4) "Direct Rollover" is a payment by the Plan to the eligible retirement plan
specified by the distributee."
Section 6.02 of the Plan is hereby amended by the addition of a new subparagraph (E)
at the end of such Section 6.02 as follows:
"(E) No Required Minimum Distributions for 2009. Notwithstanding the
foregoing requirements of this Section 6.02 of the Plan, a Participant or
Beneficiary who would have been required to receive minimum distributions for
2009 but for the enactment of Code § 401(a)(9)(H) ( "2009 RMDs "), and who
Would have satisfied that requirement by receiving .distributions that are (1) equal
to the 2009 RMDs or (2) one or more payments in a series of substantially equal
distributions (that include the 2009 RMDs) made at least annually and expected
to last for the life (or life expectancy) of the Participant, the joint lives (or joint life
expectancy) of the Participant and the Participant's Designated Beneficiary, or for
a period of at least 10 years ( "Extended 2009 RMDs "), will receive those
distributions for 2009 unless the Participant or Beneficiary chooses not to receive
such distributions. Participants and Beneficiaries described in the preceding
sentence will be given the opportunity to elect to receive the distribution
described in the preceding sentence. In addition, notwithstanding Section
6.01(C) of the Plan, and solely for the purposes of applying the direct rollover
provisions of the Plan, 2009 RMDs and Extended 2009 RMDs, will be treated as
Eligible Rollover Distributions."
2
Section 6.04 of the Plan is hereby amended by the addition of the following provisions to
the end of such Section:
"For purposes of the death benefit provided under the Plan, in the case of a
death of a Participant occurring on or after January 1, 2007, while performing
qualified military service (as defined in Code § 414(u)), the Participant's
Beneficiary(ies) shall be entitled to any additional death benefit (other than
accrued benefits relating to the period of qualified military service) provided
under the Plan as if the Participant had returned' to employment and then
incurred a Separation from Service on account of the Participant's death."
IV.
Article VI of the Plan is hereby amended by the addition of a new Section 6.06 as
follows:
"6.06 Consent to Distribution and Waiver of Certain Notice Periods for
Distributions. Any distribution to a Participant under this Plan which requires
such Participant's consent, shall not be made until the required consent is
provided by the Participant. A Participant shall be informed of his or her right to
defer receipt of the distribution and such other information and disclosures that
may be required under the Income Tax Regulations to the Code. If a Participant
fails to consent, it shall be deemed an election to defer the commencement of
payment of any benefits. However, any election to defer the receipt of benefits
shall not apply with respect to distributions which are required under Section 6.02
of the Plan. A distribution may commence after any required notice is given
provided that: (i) the Plan Administrator clearly informs the Participant that the
Participant has a right to a period of at least thirty (30) days after receiving the
notice to consider the decision of whether or not to elect a distribution (and, if
applicable, a particular distribution option), and (ii) the Participant, after receiving
notice, affirmatively requests a distribution."
0
Sec ...1'.....
of d nn 1' J. L. . -. nl� in �r� �i n �r A A �1 r%A r v��nne�i -1 1 1�'Q FYI +IYG +\ / +f1 nrt irin -me
Sectio 1 1 1 . V V of U IC r Ian IJ hVI G b y a lueu a1 1u 1'c�Nia.,UU 1 n pis �:� nn vLy iv N� v v ��.., u.,
follows:
"11.09 Qualified Military Service /Treatment of Differential Wage Payments.
Notwithstanding any provision of this Plan to the contrary, contributions, benefits
and service credit with respect to qualified military service will be provided in
accordance with Code § 414(u).
Beginning January 1, 2009, any Participant who receives differential wage
payments as defined in Code § 3401(h)(2) that are paid to a Participant by the
Employer during a period of qualified military service shall, for purposes of this
Plan, be considered as an Employee, the wage differential payment shall be
treated as Compensation, and the Participant shall be eligible to make
Participant Required Contributions or Voluntary Contributions and to receive
3
allocations of Employer Contributions with respect to such Compensation that is
attributable to the wage differential payments.
The Plan shall not be treated as failing to meet the requirements of any
provisions described in Code § 414(u)(1)(C) by reason of any contribution to the
Plan that is based on the differential wage payment; provided, however, this
exception applies only if all Employees of the Employer performing service in the.
uniformed services described in Code § 3401(h)(2)(A) are entitled to receive
differential wage payments on reasonably equivalent terms and, if eligible to
participate in the Plan or any other retirement plan of the Employer, to make
contributions based on the differential wage payments on reasonably equivalent
terms."
VI.
The foregoing amendments to the Plan shall supersede the existing provisions of the .
Plan to the extent those provisions are inconsistent with the provisions of this Amendment. The
remaining terms and provisions of the Plan are hereby confirmed and ratified in all respects
except insofar as the foregoing provisions of this Amendment amend the same.
IN WITNESS WHEREOF, the City of Blair, Nebraska, as Employer, has caused this
Amendment to the Plan to be executed by its duly authorized official, and the Trustee has
caused this Amendment to be executed this 3 day of o V ,
2010.
THE CITY OF BLAIR, NEBRASKA,
Employer
By:
Official Title:
TREASURER OF THE CITY OF BLAIR,
NEBRASKA, Trustee
By:
DOCS/1003562.1
12