Title
Police and Fire Retirement Plan - IRS Amendment - For the purpose of amending the Annapolis Police and Fire Retirement Plan to comply with an IRS requirement that the Plan include specific language to address the potential for retirees to receive benefits from more than one City retirement plan.
Body
CITY COUNCIL OF THE
City of Annapolis
Resolution 28-17
Introduced by: Mayor Pantelides
A RESOLUTION concerning
Police and Fire Retirement Plan - IRS Amendment
FOR the purpose of amending the Annapolis Police and Fire Retirement Plan to comply with an IRS requirement that the Plan include specific language to address the potential for retirees to receive benefits from more than one City retirement plan.
WHEREAS, Section 3.36.010 of the Code of the City of Annapolis establishes and adopts by reference the amended and restated City of Annapolis Police and Fire Retirement Plan effective July 1, 2015; and
WHEREAS, pursuant to Section 3.36.010 of the Code of the City of Annapolis, the terms of the plan may be amended, from time to time, by resolution; and
WHEREAS, the Internal Revenue Service requires that the Annapolis Police and Fire Retirement Plan include specific language to address the potential for retirees to receive benefits from more than one City retirement plan.
NOW, THEREFORE,
BE IT RESOLVED BY THE ANNAPOLIS CITY COUNCIL that in compliance with the Internal Revenue Service the Annapolis Police and Fire Retirement Plan is hereby amended to include specific language to address the potential for retirees to receive benefits from more than one City retirement plan.
AND BE IT FURTHER RESOLVED BY THE ANNAPOLIS CITY COUNCIL that this resolution shall take effect from the date of its passage.
EXPLANATION
CAPITAL LETTERS indicate matter added to existing law.
Strikethrough indicates matter stricken from existing law.
Underlining indicates amendments.