(A) The Board of Directors hereby approves and adopts the form of the amended pension plan and trust, effective July 1, 2003; the summary plan description; the funding policy; and method presented at this meeting and attached to the resolution incorporated herein as Exhibits A, B and C, restates the fact of the District’s compliance with federal law and authorizes and directs the District’s General Manager to execute and deliver to the trustees of the plan one or more counterparts of the plan.
(B) For the purposes of the limitations on contributions and benefits under the plan prescribed by I.R.C. § 415, the LIMITATION YEAR shall be the plan year.
(C) Not later than the due date (including extensions thereof) of the District’s federal income tax return for each of its fiscal years hereafter, the District shall contribute to the plan for each such fiscal year not less than such amount as shall be required to meet the minimum funding standards and that the Treasurer of the District is authorized and directed to pay such contribution to the trustee of the plan in cash or property and to designate to the trustee the fiscal year for which such contribution is made.
(D) The General Manager is directed to act as soon as possible to notify employees of the District of the adoption of the pension plan by effecting the delivery to each employee a copy of the summary description of the plan in the form of the summary plan description presented to and approved by the Board of Directors at this meeting.
(Res. 2003-29, passed 10-16-2003; Res. 2003-36, passed 11-20-2003; Res. 2005-14, passed 10-20-2005; Res. 2007-30, passed 12-11-2007; Res. 2008-22, passed 12-18-2008; Res. 2009-02, passed 3-26-2009; Res. 2010-17, passed 7-22-2010; Res. 2014-09, passed 3-27-2014; Res. 2015-21, passed 5-27-2015; Res. 2015-30, passed 7-23-2015; Res. 2015-37, passed 10-29-2015; Res. 2016-08, passed 2-25-2016; Res. 2021-12, passed 2-25-2021; Res. 2023-20, passed 2-23-2023)