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Florida Municipal Pension Trust Fund 457(b) Deferred Compensation Plan 18 .3 Amendment can ' t provide any cutback Any amendment shall not reduce the amount of Deferred Compensation credited to any Account before the date of the amendment , and shall not impair the rights of any person to the Deferred Compensation so credited . 18 .4 Retroactive effect Any amendment of the Plan may be given immediate or retroactive effect ; provided that such immediate or retroactive effect does not cause the Plan to fail to meet the requirements of an eligible deferred compensation plan within the meaning of IRC § 457 (b) . 18 . 5 Merger or consolidation To the extent that Accounts that are funded by a Master Trustee or other exclusive benefit arrangement in compliance with IRC § 457(g) , this Plan may be merged or consolidated with, and such assets and liabilities may be transferred to , another eligible deferred compensation plan under IRC § 457 (b) but only if the transferee plan meets the requirements of IRC § 457(g) and under the successor plan the Deferred Compensation with respect to each Participant is at least equal to the Deferred Compensation the Participant would have received if he or she had received a lump -sum distribution under the transfer or Plan immediately before the transfer, merger, or consolidation . 19 . TERMINATION 19 . 1 Plan Termination by Participating Employer A Participating Employer may terminate it participation in the Plan, including but not limited to , its contribution requirements , if it takes the following actions : a) The Governing Authority of the Participating Employer must adopt an ordinance orresolution terminating its participation in the Plan . b ) The ordinance or resolution must specify when the Plan will be closed to any additional participation by Eligible Employees, which must be a date at least sixty ( 60) days after the adoption of the ordinance or resolution . C ) The ordinance or resolution must be submitted to the Master Trustee , or it ' s designee . The Master Trustee , or it ' s designee , shall determine whether the ordinance or resolution complies with this provision , and all applicable federal and state laws , and shall determine an appropriate effective date for the termination of Employer participation , which shall be no later than twelve ( 12) months from the Master Trustee ' s receipt of the ordinance or resolution . The Plan Administrator shall provide appropriate forms to the Participating Employer to terminate ongoing participation . Distributions under the Plan of existing accounts to the Participants and Beneficiaries affected by the termination are subject to the distribution provisions in this document . However, if the Participating Employer requests a plan-to-plan transfer of Plan assets with respect to the Participating Florida Municipal Pension Trust Fund Florida League of Cities, Inc . Page 59 02,'01 /2009