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2010-320C
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2010-320C
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Last modified
2/23/2016 2:16:14 PM
Creation date
10/1/2015 1:30:43 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
12/21/2010
Control Number
2010-320C
Agenda Item Number
12.G.3
Entity Name
Florida League of Cities
Subject
Pension Fund Amended June 2006
Florida Municipal Pension Trust Fund Master Agreement
Supplemental fields
SmeadsoftID
9171
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participating defined contribution pension plans have been terminated in their entirety or have <br /> terminated their participation in the Defined Contribution Pension Plan Trust . The Deferred <br /> Compensation Plan Trust may be terminated in its entirety when all of the participating deferred <br /> compensation plans have been terminated in their entirety or have terminated their participation <br /> in the Deferred Compensation Plan Trust, The Other Post-Employment Benefit Plan Trust may <br /> be terminated in its entirety when all of the participating other post-employment benefit plans <br /> have been terminated in their entirety or have terminated their participation in the Other Post- <br /> Employment Benefit Plan Trust. The Defined Benefit Pension Plan Trust may be terminated in <br /> its entirety pursuant to Florida law . This Agreement and the Master Trust Fund may be <br /> terminated in their entirety pursuant to Florida law . <br /> In case of a termination of this Agreement, either in whole or in part, the Master Trustees <br /> (subject to the provisions of Section 111 hereof and reserving respectively such sums as the <br /> Master Trustees shall deem necessary in settling their respective accounts and to discharge any <br /> obligation of the Master Trust Fund for which as trustees the Master Trustees shall be liable) <br /> shall hold, apply, transfer or distribute the affected assets of the Master Trust Fund in accordance <br /> with the applicable provisions of this Agreement and the affected Plans . Upon any termination, <br /> in whole or in part, of this Agreement and the trusts created hereby, the Master Trustees shall <br /> have a right to have their respective accounts settled as provided in Section 112 . <br /> In the case of the complete or partial termination of this Agreement as to one or more <br /> Employers, including a termination arising from the discontinuance or delinquency of <br /> contributions, the affected assets of the Master Trust Fund shall continue to be held pursuant to <br /> the direction of the Master Trustees, for the benefit of affected Participating Employees and <br /> Beneficiaries, pursuant to the benefit provisions of the affected Plan . This Agreement shall <br /> remain in full effect with respect to each Participating Employer that does not terminate its <br /> participation in the Master Trust Fund on behalf of its Participating Employees, or whose <br /> participation is not terminated by the Master Trustees . In the event of a complete termination of <br /> the Master Trust Fund , or of the complete termination of the Defined Contribution Pension Plan <br /> Trust, the Deferred Compensation Plan Trust, the Defined Benefit Pension Plan Trust or the <br /> Other Post-Employment Benefit Plan Trust, the Master Trustees will take reasonable steps to <br /> avoid a distribution to the Participating Employees and Beneficiaries, except pursuant to benefit <br /> options under the provisions of the participating Plans, including transfers to successor plan(s) . <br /> However, if distributions must be made, the Administrator shall be responsible for directing <br /> distribution of all affected assets of the Master Trust Fund to Participating Employees and <br /> Beneficiaries . <br /> Distributions under a participating Plan of existing accounts or accrued benefits to the <br /> Participating Employees and Beneficiaries affected by the termination are subject to the benefit <br /> provisions of the Plan . However, if a Participating Employer requests a plan -to- plan transfer of <br /> Plan assets with respect to the Participating Employer ' s Participating Employees, the Master <br /> Trustees may in their discretion make the transfer . <br /> Notwithstanding the foregoing, the Master Trustees shall not be required to pay out any <br /> assets of the Master Trust Fund to Participating Employees and Beneficiaries or a successor plan <br /> upon termination of this Agreement or the Master Trust Fund, in whole or in part, until the <br /> Master Trustees have received written certification from the Administrator ( i) that all provisions <br /> 15 <br /> MADI_625405. 4 <br />
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