A.
The plan is created
for the exclusive benefit of the employees of the employer and shall
be interpreted in a manner consistent with its being a qualified plan
as defined in IRC § 401(a). The corpus or income of the
trust may not be diverted to or used for other than the exclusive
benefit of the participants or their beneficiaries.
No benefit or interest available hereunder,
including any annuity contract distributed herefrom, shall be subject
to assignment or alienation, either voluntarily or involuntarily.
The preceding sentence shall also apply to the creation, assignment,
or recognition of a right to any benefit payable with respect to a
participant pursuant to a domestic relations order, unless such order
is determined to be an acceptable domestic relations order as defined
in IRC § 414(p), or any domestic relations order entered
before January 1, 1985.
This plan is not to be construed as creating
or changing any contract of employment between the employer and its
employees, and the employer retains the right to deal with its employees
in the same manner as though this plan had not been created.
This plan shall be binding on the heirs, executors,
administrators, successors and assigns as such terms may be applicable
to any or all parties hereto, and on any participants, present or
future.
Any ordinance or resolution with an effective
date prior to the adoption date of this amendment and restatement
of the plan shall be of no effect.
If any provision of this plan shall be held
invalid or unenforceable, such invalidity or unenforceability shall
not affect any other provision hereof, and this plan shall be construed
and enforced as if such provision had not been included.
A.
The plan shall
be construed in accordance with the laws of the Commonwealth of Pennsylvania
and with the applicable portions of the Internal Revenue Code. It
is intended that the plan comply with the interpretations of P.L.
1804, as amended (53 P.S. 767) (Act 600), issued by the judicial and
regulatory bodies of the Commonwealth of Pennsylvania.
B.
Nothing herein will be deemed to amend, change or repeal any of the provisions of Chapter 91, except for the provisions of Chapter 91 which are contrary to the requirements of Act 30 of 2002 and to the specific provisions of this ordinance. The amendments to this ordinance shall be retroactive and take effect on April 17, 2002.
[Added 6-16-2003 by Ord. No. 581]
This plan may be executed in any number of counterparts,
each of which shall be deemed as an original, and said counterparts
shall constitute but one and the same instrument that may be sufficiently
evidenced by any one counterpart.
Wherever appropriate, words used in this plan
in the singular may include the plural or the plural may be read as
singular, and the masculine may include the feminine.
[Added 12-15-2003 by Ord. No. 588, approved 12-15-2003; amended 12-18-2006 by Ord. No.
607, approved 12-18-2006]
A.
Whereas, Athens
Borough previously established the Athens Borough Police Pension Plan;
and
B.
Whereas, Athens
Borough amended and restated the plan in order to continue its compliance
with the tax exempt retirement plan requirements of Internal Revenue
Code of 1986 (as amended), § 401(a), and desires to enact
an amendment to the plan;
C.
Now therefore,
be it ordained and enacted by Athens Borough that the attached amendment
of the Athens Borough Police Pension Plan is enacted. Maria K. Worden,
President, and as the agent of the employer, is authorized and directed
to execute the attached amendment of the plan.[1]
[1]
Editor's Note: The plan amendments referred
to in this section are incorporated in the appropriate sections of
this chapter.
