[Ord. No. 92-80 §§1 —
3, 12-16-1992; Ord. No.
99-29 §1, 4-21-1999; Ord. No. 01-57 §§1 — 3, 10-17-2001; Ord. No. 02-71 §2, 12-18-2002]
The following terms used in the Plan have the meanings ascribed to them in Article I unless a different meaning is plainly required by the context. Some words and phrases used in the Plan are not defined in this Article I, but, for convenience, are defined as they are introduced into the text. Words in one gender shall be deemed to include the other gender. Nouns and pronouns stated in the singular shall be deemed to include the plural and the plural shall be deemed to include the singular whenever appropriate. Any headings used herein are included for ease of reference only, and are not to be construed so as to alter any of the terms of the Plan.
A benefit which is of equal value at the date of determination
to the benefit for which it is to be substituted. For all purposes
other than lump sum benefits, Actuarial Equivalence shall be based
upon an interest rate of seven percent (7%) and a mortality table
constructed from seventy-five percent (75%) of the male rates and
twenty-five percent (25%) of the female rates from the 1971 Group
Annuity Mortality Table.
For lump sum benefits, Actuarial Equivalence shall be based
on the annual rate of interest on 30-year treasury securities, as
specified by the Commissioner of Internal Revenue for the second (2nd)
month preceding the Plan Year in which falls the annuity starting
date for the distribution.
A person or entity designated as such by a Participant, on
a form provided by the Plan Administrator, to receive benefits payable
upon the Participant's death. If no person designated as Beneficiary
survives the Participant, the Beneficiary shall be the Participant's
estate.
Occurs when an employee does not complete five hundred one
(501) hours of service during a Plan Year.
City of Bridgeton, Missouri.
The City Council of the City of Bridgeton, Missouri.
The Internal Revenue Code of 1986 as amended from time to
time. All references to specific Code Sections are deemed to be references
to such Sections as they may be amended or superseded.
Either (1) or (2), whichever is applicable, subject to (3):
For a Participant whose Service commenced before January 1,
1977, a Year of Credited Service shall mean:
The number of whole years and completed months of continuous
Service credit to the Participant as of December 31, 1976, excluding
the first (1st) year of Service, plus
Any Plan Year beginning on or after January 1, 1977, during
which the Participant completes at least one thousand (1,000) hours
of Service before the Participant's Normal (or Early) retirement Date,
date of termination, date of disability or date of death.
For a Participant whose Service commenced on or after January
1, 1977, a year of Credited Service is any Plan Year beginning in
1977, or after during which the Participant has at least one thousand
(1,000) hours of Service before the Participant's Retirement Date,
date of termination, date of disability or date of death.
With regard to Credited Service determined under Subparagraph
(2) above, Plan Years preceding a Break in Service shall be counted
only if the number of years of Credited Service prior to the Break
in Service equals or exceeds the number of years of consecutive Breaks
in Service.
EARNINGS: The gross amount earned during the
calendar year as an Employee with the City. Earnings shall include
wages and salary, bonuses, commissions, and overtime pay. Earnings
include any amount which is not includable in the gross income of
the Employee under Sections 125(a)(8), 402(h), 403(b) or 457 of the
Code.
Compensation for the purpose of this Plan shall not exceed the
applicable limit (which can change annually) on compensation prescribed
in Section 401(a)(17) of the Internal Revenue Code for any Plan Year
adjusted for cost of living increases in accordance with Section 401(a)(17)(B)
of the Code (the "Section 401(a)(17) Limit). The cost of living adjustment
in effect for a calendar year applies to annual compensation for the
determination period that begins with or within such calendar year.
For the Plan Year beginning in 1994, such limit was one hundred fifty
thousand dollars ($150,000.00). For the Plan Year beginning in 2002,
such limit is two hundred thousand dollars ($200,000.00).
AVERAGE ANNUAL EARNINGS: The annual average
of a Participant's Compensation over the five (5) consecutive Plan
Years out of the last ten (10) Plan Years of employment immediately
preceding the applicable determination date which produces the highest
average. If a Participant does not have the requisite amount of service
described above, Final Average Compensation shall be determined on
the total number of Plan Years as an Employee. In determining the
accruals in Plan Years beginning December 31, 2001, with respect to
determination periods beginning before January 1, 2002, the Section
(a)(17) Limit is two hundred thousand dollars ($200,000.00).
Notwithstanding the above, for the purposes of computing Average
Annual Earnings, Earnings attributable to a partial year shall be
annualized by multiplying the hourly rate of pay for that year by
two thousand eighty (2,080) and adding overtime payments made to the
Employee for that year.
For a Civilian Employee, the date on which the Participant
first (1st) attains age fifty (50) and has completed at least five
(5) years of Service; for a Policeman, the date on which the Participant
first attains age forty-five (45) and has completed at least five
(5) years of Service. Early Retirement Date: The
date the Participant elects to receive his Retirement Benefits under
the Plan where such date is the first (1st) day of any month coinciding
with or next following the Participant's attainment of his Early Retirement
Age but is prior to the Participant's attainment of his Normal Retirement
Age.
A person employed by the City.
The first (1st) day of the month coinciding with or immediately
following the date a Participant retires, where such date is after
his Normal Retirement Date.
Effective for all Participants actively employed on or after
January 1, 1999, the date the Participant attains age sixty (60) and
has completed at least five (5) years of service. For a civilian employee
who terminated employment prior to January 1, 1999, the date the Participant
attains age sixty (60) and has completed at least five (5) years of
service; for a Policeman, who terminated employment prior to January
1, 1999, the date the Participant attains age fifty-five (55) and
has completed at least five (5) years of service. Normal Retirement
Date: The first (1st) day of the month coinciding with or
next following the date that the Participant attains his Normal Retirement
Age. A Participant shall be one hundred percent (100%) vested in his
Accrued Benefit upon the attainment of Normal Retirement Age.
Any Employee who becomes eligible to Participate in the Plan pursuant to Article II and who continues to be entitled to any benefits under the Plan. Active Participant: Any Participant
who is an Employee of the City on a determination date.
Retirement Plan for Employees of the City of Bridgeton, Missouri,
as it may from time to time be amended.
The City of Bridgeton, Missouri.
The calendar year.
The amount to which a Participant shall become entitled,
is entitled to or is receiving under this Plan.
Employment as an Employee with the City.
The person to whom the Participant is legally married at
the relevant time.
All sums of money or other property held by the Trustee for
the purpose of providing benefits under the Plan.
The City Council or successors thereto appointed to administer
the Trust Fund.
Either (1) or (2), whichever is applicable.
For a Participant whose Service commenced before January 1,
1977, a "Year of Service" shall mean:
For a Participant whose Service commenced on or after January
1, 1977, a "Year of Service" shall mean any Plan
Year in which the Employee completes at least one thousand (1,000)
hours of Service.
Solely for the purpose of determining whether a Break in Service
has occurred, an Employee who is absent from employment because of
the Employee's pregnancy, the birth of the Employee's child, the place
of a child with the Employee in connection with the adoption of such
child by the Employee, or the need to care for such child for a period
beginning immediately following such birth or placement, shall be
credited with:
The above rule shall apply only if the employee furnishes to
the Plan Administrator such timely information as it may require to
establish that the absence was for the above reasons and to determine
the number of days of such absence.
Hours of service shall be credited in the plan year in which
the absence from work begins if such credit is necessary to prevent
a Break in Service in that period. In any other case, such hours of
service shall be credited in the immediately following plan year.
In no event shall more than five hundred one (501) hours of service
be credited because of such pregnancy or placement.
USERRA. Effective December 12, 1994, notwithstanding
any provision of this Plan to the contrary, contributions, benefits
and service credit with respect to qualified military service will
be provided in accordance with Section 414(u) of the Internal Revenue
Code.
