2010-125 - Laserfiche WebLink

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Section 1. The Participating Employer authorizes the execution of the Trust Joinder Agreement for the Participating Employer to become a party to the FMPTF Master Trust Agreement. The FMPTF Master Trust Agreement, as may be amended by the Master Trustees of the FMPTF Defined Contribution and deferred compensation Plans ("Master Trustees"), shall be attached to and made a part of the Trust Joinder Agreement. Section 2. The Participating Employer adopts the FMPTF Deferred Compensation Plan for its Employees. The 457 Plan, as may be amended by the Master Trustees, is attached hereto as Exhibit 2 and is made a part of this Resolution. Section 3. The Participating Employer acknowledges that the Master Trustees are only responsible for the 457 plan and have no responsibility for other employee benefit plans maintained by the Participating Employer. Section 4. The Participating Employer hereby adopts the terms of the 457 plan Adoption Agreement, which is attached hereto as Exhibit 3 and is made a part of this Resolution. The Adoption Agreements set forth the Employees to be covered by the Plans, the benefits to be provided by the Participating Employer under the Plans, and any conditions imposed by the Participating Employer with respect to, but not inconsistent with, the Plans. The Participating Employer reserves the right to amend its elections under the Adoption Agreements, so long as the amendment is not inconsistent with the Plans, the FMPTF Master Trust Agreement or the Internal Revenue Code or other applicable law and is approved by the Master Trustees of the Plan. Section 5. (a) The Participating Employer shall abide by the terms of the Plans and the FMPTF Master Trust Agreement, including amendments to the Plans and the FMPTF Master Trust Agreement made by the Master Trustees, all investment, administrative, and other service agreements of the Plans and the FMPTF Master Trust Agreement, and all applicable provisions of the Internal Revenue Code or other applicable law. (b) The Participating Employer accepts the administrative services to be provided by Florida League of Cities, Inc. and any services provided by a service manager as delegated by the Master Trustees. The Participating Employer acknowledges that fees will be imposed with respect to the services provided and that such fees may be deducted from the Participating Employees' accounts. Section 6. (a) The Participating Employer may terminate its participation in the Plan, if it takes the following actions: (i) A resolution must be adopted terminating its participation in the Plan. (ii) The resolution must specify when the participation will end. The Master Trustees shall determine whether the resolution complies with the Plans, the FMPTF Master Trust Agreement, and all applicable federal and state laws, shall determine an appropriate effective date, and shall provide appropriate forms to terminate ongoing participation. However, distributions under the Plans of existing accounts to Participating Employees will be made in accordance with the Plans.