1869RESOLUTION NO. ~ 86 q
A RESOLUTION OF THE CITY COUNCIL
MONEY PURCHASE PLAN FOR NON-UNIFORM EMPLOYEES OF
THE CITY OF WEST MEMPHIS
For the adoption of provisions of the final regulations under code section 401(I~ and 401(M)
and provisions of the proposed regulations under code section 415
On ~ 2, / 2. ~ / Z.,001~ the following resolutions to amend the Money Purchase Pension Plan for Non-
, Uniform Employees of the City of West Memphis were duly adopted by a majority of the City Council of
the City of West Memphis and that such resolutions have not been modified or rescinded as of the date
hereof:
RESOLVED that the form of the Amendment presented to this meeting is to:
- Comply with changes to Hardship Distributions, Plan Aggregation, Distribution restrictions from
elective Deferral accounts, Rule of Parity, Timing of contributions and rules regarding Highly
Compensated Employees made by the finalization of the Fina1401(k) and 401(m) Regulations
effective for Pan Years beginning after January 1, 2006.
-Change the method of allocating Qualified Non-Elective Contributions under the Plan.
- Change the method of allocating Qualified Matching Contributions under the Plan.
- Change the Plan's Actual Deferral Percentage Testing method to the Prior year Testing Method.
- Change the Plan's Actual contribution Percentage Testing method to the Prior Year Testing
Method.
RESOLVED, that this amendment be effective January 1, 2006.
RESOLVED, that the proper Officers of the Employer shall act as soon as possible to notify employees
of the Employer of the adoption of this amendment.
RESOLVED, that the proper Officers of the Employer be, and they hereby are, authorized and directed to
execute any and all such documents and to perform any all such acts as may be necessary and proper to
effect the foregoing; and
THE UNDERSIGNED, does hereby certify that the foregoing is a full, true and correct copy of the
Resolutions duly and regularly adopted by the City Council of said Employer.
WILLIAM H. JO SON, Mayor
ATTEST:
PHILLIP P ity Clerk
RECEIVED
City Clerk's Office
Date/Time 1~ I~ 0~ a';2~~'~
By~.-