The Plan contains provisions which are intended to constitute a pick-up program by the employer which satisfied the requirements of § 414(h)(2) of the Internal Revenue Code of 1986 (the “Code”), and the Plan, be, and it is, approved and adopted as of the date therein stated; and required contributions described in § 5 of the Joinder are designated as “picked-up” by the employer so as to not be included in Plan Participants’ gross income for federal income tax purposes as provided in § 414(h)(2) of the Code. All such required contributions are to be paid by the employer in lieu of contributions by the Plan Participant. No Participant in the Plan shall have the option of choosing to receive the amounts of required contributions directly in lieu of having such amounts paid by the employer to the Trustees of the Plan.
(Ord. 1963, passed 11-6-18; Am. Ord. 1981, passed 10-7-19; Am Ord. 1982, passed 10-7-19)