My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
PUBLIC AGENCY RETIREMENT SERVICES (PARS) - 2011
Clerk
>
Contracts / Agreements
>
P
>
PUBLIC AGENCY RETIREMENT SERVICES (PARS) - 2011
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
8/5/2016 2:45:04 PM
Creation date
8/8/2011 10:39:04 AM
Metadata
Fields
Template:
Contracts
Company Name
PARS (PHASE II SYSTEMS)
Contract #
A-2011-114
Agency
Personnel Services
Council Approval Date
4/18/2011
Expiration Date
4/7/2016
Insurance Exp Date
5/8/2017
Destruction Year
2021
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
113
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
(e) Pursuant to Treasury Regulation Section 1.415(b)-I(a)(7)(iii), the rate of a Member's <br />accrual shall not be limited by this Article VI (but at all times the annual benefit payable to the <br />Member is subject to the limits set forth in this Article VI), <br />(0 The limitation in Section 6.2(a) is deemed satisfied if the Annual Benefit payable to a <br />Member is not more than $ 1,000 multiplied by the Member's number of years of service or parts <br />thereof (not to exceed ten) with the Employer, and the Employer (or a predecessor employer) has <br />not at any time maintained a defined contribution plan in which such Member participated. <br />If the Employer maintains one or more defined benefit plans, in addition to this Plan, <br />covering an Employee who is also a Member in this Plan, the surn of the Annual Benefits of all <br />the plans will be treated as a single benefit for the purposes of applying the limitations of Section <br />6.2(a), For purposes of the preceding sentence, Annual Benefits under a "qualified governmental <br />excess benefit arrangement," as described in Section 415(m)(3) of the Code, shall be <br />disregarded. If the Annual Benefits exceed, in the aggregate, the limitations of Section 6.2(a), <br />the Annual Benefits under this Plan will be reduced (but not below zero) until the sung of the <br />benefits of the Related Plan(s) satisfy the limitations. In the case of an individual who was a <br />Member in one or more defined benefit plans of the Employer as of the first day of the first <br />Limitation Year beginning after December 31, 1986, the application of the limitations of this <br />Section 6.2 shall not cause the limitation under Section 6.2(a) for such individual under all such <br />defined benefit plans to be less than the individual's Current Accrued Benefit, The preceding <br />sentence applies only if such defined benefit plans met the requirements of Section 415 of the <br />Code, for all Limitation Years beginning before May 6, 1986. For purposes of this Section <br />6.2(f), an individual's Current Accrued Benefit means a Member's Accrued Benefit under the <br />Plan, determined as if the Member had separated from service as of the close of the last <br />Limitation Year beginning before January 1, 1987, when expressed as an annual benefit within <br />L) I <br />N B 1 :790420.2 27 <br />
The URL can be used to link to this page
Your browser does not support the video tag.