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HomeMy WebLinkAbout2000-31 Fourth Amendment to the Town of Vail Police and Fire Employees' Pension Plan~ . • ORDINANCE NO. 31 SERIES OF 2000 FOURTH AMENDMENT TO THE TOWN OF VAIL POLICE AND FIRE EMPLOYEES' PENSION PLAN WHEREAS, the Town of Vail adopted, effective January 1, 1983, a qualified money purchase pension plan known as the Town of Vail Police and Fire Employees' Pension Plan (the "Plan"}, for the purpose of providing retirement benefits for certain of its employees; and WHEREAS, the Town of Vail restated the Plan effective January 1, 1994; and WHEREAS, the Town of Vail adopted the First Amendment to the Plan effective January 16, 1996; and ~-7VHEREAS, the Town of Vail adopted the Second Amendment to the Plan effective January 1, 1997; and WHEREAS, the Town of Vail adopted the Third Amendment to the Plan effective January 1, 1999; and WHEREAS, the Town of Vail desires to further amend the Plan to eliminate the provision regarding hardship distributions in order to comply with Federal law; and WHEREAS, pursuant to Plan Section 8.3, amendment of this Plan to conform to the provisions and requirements of the Federal law does not require a vote by the sworn police officers and firefighters; NOW THEREFORE, the Plan is hereby amended, effective January i, 2000, (1) to delete Section 7.12, Hardship Distributions, and renumber Section 7.13 as Section 7.12. (2} If any part, section, subsection, sentence, clause or phrase of this ordinance is for any reason held to be invalid, such decision shall not affect the validity of the remaining portions of this ordinance; and the Town Council hereby declares it would have passed this ordinance, and each part, section, subsection, sentence, clause or phrase thereof, regardless of the fact that any ape or more parts, sections, subsections, sentences, clauses or phrases be declared invalid. (3) The Town Council hereby finds, determines and declares that this ordinance is necessary and proper for the health, safety and welfare of the Town of Vail and the inhabitants Chereof. (4} The repeal of the repeal and reenactment of any provision of the Municipal Code of the Town of Vail as provided in this ordinance shall not affect any right which has accreted, any duty imposed, any violation that occurred prior to the effective date hereof, any prosecution commenced, nor any other action or proceedings as commenced under or by virtue of the provision repealed or repealed and reenacted. The repeal of any revision hereby shall not revive any provision or any ordinance previously repealed or superseded unless expressly stated herein. (5) All bylaws, orders, resolutions, and ordinances, or parts thereof, inconsistent herewith are repealed to the extent only of such inconsistency. This repealer shall not be construed to revise any bylaw, order, resolution, or ordinance, or part thereof, theretofore repealed. 1N'1'RODUCED, READ, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL ON I{IRST READING this SOH day of December, 2000, and a public hearing shall be held on this Ordinance on the 19L~' day of December, 2000, at 7:00 p.m. in the Council Chambers of the` Vail Municipal Building, Vail, Colorado. ~',S2U$4134fi35~L, U L ~ ~ ~ A`T~"T'ES'T': .~ j ~ .... ~ `~ . relei onaldson, own Clerk Ludwig Kurz~Mayor RFsAD AND APPROVED ON SECOND READING AND ORDERED PUBLISHED this T 9`~' day of December 2000. ..~ ,~ ~ ` . ~ ~ ~ ,:; ,f-. F / ~.~ ' ~' iW~ ~ a ~ ~ ~ ~ ~ Ludwig KMayor ~t A`T'rT'EST: ,. ~J ~/~ 7 ~rele~ Donaldson, Town Clerk Wq r'~ ~ ~ °; ,.~ ~:, . 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