HomeMy WebLinkAbout1991-46 Amending the Plan Document of the Town of Vail Employees' Pension Plan~ ~ ~
ORDINANGE NO. 46, Serles of 1991
AN ORDINANCE AMENDING THE PLAN DOCUMENT OF
THE TOWN OF VAIL EMPLOYEES' PENSION PLAN;
AND SETTING FORTH DETAILS IN REGARD THERETO,
WHEREAS, the Tawn of Vail has adapted an Employees' Pension Plan, the effective date
of whict~ was January 1, 1983; and,
WHEREAS, the Town of Vail has previously adopted five amendments to the Employees'
Pension Plan; and,
WHEREAS, the Tawn of Vail wishes to again amend the Employee Pension Plan.
NOW THEREFORE, 13E IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF
VAIr_, COLORADO:
1. The sixth amendment to the Employees' Pension Plan document which is attached
to this Ordinance as Exhibit A and incorporated herein by reference is hereby adopted by the
T~swn Council of the Town of Vail.
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 ordinancr?; 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
one 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 Tawn of Vail and the inhabitants
thereof.
4. The repeat or 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 accrued, any
duty imposed, any violation that occurred prior to the effective date hereof, any prosecution
commenced, nor any other action or proceedings as commenced undor or by virtue of the
provision repealed or repealed and reenacted. The repeal of any provision hereby shall not
revive any provision or any ordinance previously repealed or superseded unless expressly stated
herein.
5. All bykaws, orders, resolutions, and ordinances, or parts thereof, inconsistent
herewith are repealed to the ex#end only of such inconsistency. This repealer shall not be
construed to revise any bylaw, order; resolution, or ordinance, or part thereof, theretofore
repealed.
1
~. •
•
INTRODUCED, READ AND APPROVED ON FIRST READING this 19th day of November,
1991, and a public hearing shall be held on this Ordinance on the 3rd day of December, 1991,
at 7:30 p.rrr. in the Council Chambers of the Vail Municipal Building, Vail, Colorado.
Ordered published in full this 19th day of November, 1991.
ATTEST:
~~~~~~ ~
Pamela A. Brandmeyer, Tawn Clerk
~P~2'v~ 'J ~1
Kent R. Rose, Mayor
INTRODUCED, READ, AND APPROVED ON SECOND READING AND ORDERED
PUBLISHED l,y title only this 3r~day of December , 1991.
ATTEST:
Pamela A. Brandmeyer, Town Clerk
C:IOHD,46
/ ~~..C.t-~--~'~-~~~ ~.~ • Vet- ~i~~
Margar~i~ A. Osterfoss, Mayor ~
7
~x~i1a1~
~~xTff nMa~l~nMl;rrr
~~r~
Tav~u a~' v~cL
ENI>?Lt)YEIa,"a! ~'~:N~IbN PLAN
TfFZS ~'lf?N17NiIsNT i.s made by thr~ Tow1Y of? Va.i~. (fxc.rs~.r3~-
sa~tez raft~zre~d tsa a~ the '+EmpioyerTMj .
Wilfi:kZf3Ab, tine ~mplayer adopted th4 z'own at Vail.
famplbyec~ra+ Pension F?:lar~ (herei~af:tex~ x•e~errod l-.a a~ thci "P~.a~xi"y
afi'eal.ive January ~., ~.St83; and
Wf{ER)Al1, the F.'~.r1rr ~ya~tr~T.i.d(e~es a1: l3aal:iory E~.1 acs ~rsll.eswsa:
s'Th~: >~mp~.oy~r may 2jET1tC'F3d, mc~d~.~y ar texma.nate
the 1~'7.an...'+; and
WlflaftEllS, the rmp~.oyer previously am+~nQnc~ the L'1an in
c.e~rt:as.1_t~ te?eshrt~.aa1. r~a~:f~ec:ts and rrnw dE!51.~'t3~ to 1?ssrl:.hpx• amend the
~'l.ars t:a t~c~c~ ac~di#:i,onaf, empl.ayee~ tra the coverage ni' the Flan;
NbW, '1'~~PSkL~~U~tC, i.tre >~mp~.oy+ax daes hereby amend the
1']..I~31 ~.rt ttre ~bllawing paf~iaulazs.
ldtT~CLE :~
Axticx~.e z2z of L-lse Plan .1_s leareksy ~mend~:d by acidr~axy
i:lre i's~liowis~g sect~l.ocr to tlrrz ~IICI of? suCl1 x~x1~i~:~.~:
"3 . G Part~,c.in~ti~~~ oL Non--~'P.rma~zet,~ EmtalpVCas-
Ariy e~mp:E.ay~e wino is tint a permanpa~t er~~ployee
:~IYCi as a r_e~~xlh is rust an e~..ig:ible elnplc~yes in
~J ~ L~~ ~ s~c~r ~C."..~ L-f~~~~ !
1 ~ ~ •. 7
aoanrrt~t]cc w,~.l~!y ~~c:t",~~an 3.1 ntYa~4.1 >,a al.igi.b~.+~
to ~7:]rt:i.r;i.pat:~ .!_tk the I':Lan o:a n 13.x~i.tad basis
ti;i px:~ctvidecl. i.n Sent:irn] A . 17~ }~~_e~,Lw. Such Par. t:.#.--
c::i.pt]t.ion slknl.l 1'te ~~'~~Glrivc c"i,3 OF thE* :Lat'ex• ~1:
~7~.k].y 1, ~5~91. o]- such ncyx~a-pcz'agcttl~~i~l: eiapluxee'e3
data of ~1np:l.n,yknF:;rkt:.
TTC'T.R T'r'
~--»
~ slew :i~pt~c7l] 4 . ~.A is~ hQrebg i.7nserter~ i~amodiate~.y
Yt~llowing 5wctioi] ~ . t ~~ t:tis Plan, such 5ac:1:~.nn to read in itg
dntirei;y ~s fcsll.aws:
!! . ~~, Cant~cilautlons for Non-Perman.h~tt~ .~U.~.~.'uscs .
(a } F~ralayer (',c:;ntx-:i but3c]n~., ?'ctk~ ~aaYx P]_ran
Xe~~:r, t:he ~:-uY~lUycr e;h~al.l ~:o;+X:1C.Lk,tat:o t_ta tlxe
Pt.~:k tv ttie credit ar iwh~~ lali~ ~:l.uyt~r Coc]tra.-
Lul;i,c~rk ,lS.cc:c~unt= t~!'_ each 1~srE. ~.c;:~t~nrkl' wha is
not c]thox•wi. as tin e].ig f.t~ln any#y~.oy~a, 21Tk
~]tnaunt: c?r~u~]1_ t.o 1.51 of his; al_i.cli.I~i.ie
t~c;mpc~r:~;at;iork. '.L'l~e t:n1~~r:i;;ul.xan df tl~a
Lmp:Loyr?r ~c]x any Plan Yr?~t1 shall ba tt:ade
nc] laL:er than 2-1~2, niaxil_•Ir~, fra~.~r~wikrtcl I:ike
end o~ the P].~t] '~Ce~ax.
(la} 1'vmcloy~e Contzibuti.onc~, ~~kcL cmp~.oyee who
in ~ !]~x~~i~igatrt but not atYtarwi€~~; ara
cl.i.c~i.l7'Le otu~rloyee atir]Z.i ]sr? a:equir~d t',a
~.t;t;t~ribuLe G~ of hi_~ s~r~;m~~e~~:;al:aon ~.a ttie
pl_mtt ~r~x- c~a~.}k ta~.un Year, p3:s ~ri,cie:~i tlratr Lcar
the Plan }~e~,r ~nct3.tkc~ Cl~ce;~~i~e.r" ~~_, 3.99:L,
suc:l- contributions aY]ul:L bc: i"egtxlr. erg only
ai'#:er. ;drily 1, 1991.
(c) 1;malnvPr. ZJ.i.c;15.3~~ Cositr.ibutia]~s. Tt~~
~mY]7_nyen ryonNx~~.h1]t:.].on af' eaaki partir~iparak
wf]a i.s nat ot_1terw.ir,s Rx•i E~:1.~ir~ib:L+6 r?uyp:loyee
r;1~:]:I.:I. kira ntHClr~ by ~hile k~;m}>_iA~CY ~lnc~ tieriur_l.:c-+ci
'~•c1m t.llra r_.p~pal7~8t1r7t] C)t.}lt~r~Wl.a,~." paid to
i:~ae e3~~~~1cay~e far all ~c~Eai-c:~~~sat:ic~n paid to
niu~2- c~mt~loyee ~,~ ar a1~L:ex' Novambsr 2C1,
x.99:1. SuoY~ coist:r3.iaut.+.r~n sha11. be cars--
s~.~~xcci ~Go be ~7i_c:1~ tier r:c~tl~:ri.ka:.it3.ons undetc
t:ho t:.erms of Ser:ta.an ~ =.8 (tk~ ta£ the a=:]tnr-
na~_ ~tever]u~ 4ada o~ 19#~~. Such. part.~,ca.-
_~_
.~.
. !.F _ ~ ;'..:.
..
~ ,
,ti
~, r• . •
a
pants srsal.i. trot Y1a~te the option o~ wliethex'
or nc~t~ suer c:antributians shall bra tr~at~d
as emplc~ycsx~ ~ii.ak-rap csr~lyt~'ibrrtians .
~lRTI~~,~ ~r~
gootio~ 6..2 0l' tlre~ ]~1an is he~'eby amended by addizig
i,h+~ Pnl~.c~wing ~ub~eotinn to the eiid o.1T the Plan:
(e) Y~~~i.i3g._._-.~.ul„....,~ t'~.. Nan~Permanent
]i,4nCt"1gyQaa. l~tra CUnL-.~•ibutioir made pursuant to
:~ectinxY 4..1.11 by ar_ Fcrx' airy parl_lci.p~.nk~ wl~e~ iG
tS~•st, t'al:tic3rw.i.~e ~+n pli,gibl.e w_xnplayoe, wliethar the
ront~ ilautiotj~ are Made key the parta.ai~aant er 1.-sy
tha en:p~.a~ra1^, shall box l:ully vested and nan--
t'ar~%ltable fez al.~. purposes,
,I1I7,T~CLIa; lV
Tire amaridi~ertl:r tea t.tae Plan yet Forth in Art~,a~,a~s ~
tlrrrrugh TTl tsbavEa elxal~, kse al:teal.ive ae~ o~ duly ~.~ 199:L.
AR'1'TCLIj+' V
Exe~pt as h~rc~~,nabav~x aan~n.ded irr Ax 1:i41es l thrprtgh
IV abova~, tlt~ ~mplnyer 1-arc~ksy a~e~.dapts, ~-~-ai~~Exrms arrd
x'r~[7c]c'=:l.ar~ra ~~a~:L ana evar•y prnv~,s:iorr of the ~lazz.
~N Wl'~Nia~~3 1~11EREQ1.~ , the Employer, at the a~.areation ot~
i~i~ t~~,t;y Ccrurrcil and with the cau~ent or the participants, t~a~
~axe~:rrt+~cl t•hi ~: Amenc~m~ltir as of l_Ite day yr ,
1991.
TOWI+t OF' VArZ,
Sy
-~-
~c
n
a
~~
ro
w
~.;s
'•.~
•
a _ p ypp4 ~~~~~ ~
~ ~i c~ ~ ~ ~ A==-ca'm ~C~Q ~ Q
n~ ~~ c~ z m° m~~~•po~a~ a ~ C)
~ ~ m ~ ~ ~ ~ ~~m ~ ~ ~
f~
~ h i6 < m g~ ~:c a~
~ ~
o ~ ~ ~ Q ~ ~ Q~m~~c~m~~ ~ ~
,~~ p ~ ~ ~ ~~ ~ o o~o~Q~-poQO
~~~ o m o ~ o o~~~~~-a~ ~
S ~ ~ c-~ ~ ~ ~. 4fl~~Q~'m ~Y
d O -[ ~ ~, .~ ~ Od7~?p0~~
ice, ~ Q ~-' ~ ~ E ~$ <_.(~~ ~ 7 ~
~. = H m yAryry p Q ~ ~ 0 ^ Q. Om ~ j cD
~. p. ~ ~ ~ ~ ~~~3oa?mp
~^ ~
m _ 7 m -C
`~ ~.~~a`x°3anm
-~ '~ ~ ~ m c ~ ~@ ocof ~
,~ o ~ ~ ~ ~ s o~ ;~~~ ~o$ g
a, m ~ --
'st
f"""
Z
! •
Public Notice
ORDINANCE NO, 38
Series o1 4907
AN ORDINANCE AMENDING THE PLAN
DOCUMENT OF TWE TOWN OF VAIL
EMPLOYEES' PENSION PLAN; AND SETTING
FORTH D~TAIL5 IN REGARD THERETO.
WHEREAS, tha Town a7 Vai! has adopted an
Ent+loyeas' Pens'~an Plan, Ifb vlladiva dale of
which was January 1, 198: and,
WHEREAS, thn Tarn of Vaii has previoWty
adopted five amondmenls to tha Enployeei
pension Plan: and.
WHfFaEAS. rho lawn of Vail wishes to again
amend the Errployee Pension Plan.
Now, 7HEREFCRE, BE IT ORDAINED 0Y
TF1E TOWN COUNCIL OF ~i= TOWN OF VAIL.
COLORA00:
SECTION 1. The sixth amendment to the
Enployaaa' Pension PEan document which is a1-
tachnd to tl+is Ordinance as ExhibA A and inuor-
paralad herein by relerarlce is hereby adopted by
4hn Towq Councl of the Town a1 VaJ.
SECTICN 2. 11 any part, section, subseclron,
snntsnce, clause or phrase of this ordinance e
for any reason held to he inval'd, such decision
sha11 nd allact lhs validity d the remaining por-
ix~ns of this ordinance; and the Town Council
hurnby declares it would have passed this
ordinance, aM each part, sedian, subsection,
sentence, clause or phrase 117erad, regardless d
the tad that any one or more laarix, aadiana,
aubseaiom, snnlnncea, clauaaa ar phrases be
declared invalid.
SECTION ~. The Tawn Coundl hereby finds,
dalsrmintn and dsclarea that the ordinance is
nncaasary and proper for the heahh, safely and
welters d the Sown al VaiS and Iha inhabilanta
flltlreof.
SECTION 4. Thn repeat pr the repeat and
roanaament o! any provision of the Muniapa7
Coda al the Town of Vail as provided in Ibis or-
dinance sha13 not aHad any right vrhidt hm
accrued, any duly imposed, any violation that oC
curved prior l0 1he elioclive date hereof, arty
prosoculbn commenced, nor any other adios or
proceedings as commenced under W by tirtue of
Iha provision repealed ar repealed and
rannadad, Ths repeat of any provsion hereby
shall not revive any provision a any a[dinanae
previously repealed nr wperseded unties ex-
pressly slated herein.
SECTION 5. All bylaws, orders, roaolutkr7s
and ordinance or pan lhereol, inconsistent
herewith are repeated fa the extent only of euaA
incansialancy. This repealer shalt not be oon-
slrund lorevis~ any bylaw, order, resolution m ar-
dinanco 4r part thereof, theretofore rapeabd.
INTRODUCEp. READ ANO APPROVED ON
F3R57 READING ANp ORDERED PUHL45HE0
ONCE IN FULL this 79th day of November, 1991,
and a public hearing shall be held an the Or•
dinunca on rho 3rd day of December, 1991 a1
7'.SO p.m, in the Council Chamhan o! Iha Vail
Municipal 8vilding, Vail, Gobrado. '
TOYJN OF VAIL
Kent R, Rwe
Mayer
ATTEST;
pamula A. Drandmeyei
Town Clerx
E%HlfllT A
SIXTH AMENDMENT
TO THE TOWN OF VAlL
EMPLOYEES' PENSION PLAN
THiS AMENDMENT is made by the Town o1 Vag
(hnreinn#ter rderrod to u Tha 'fnlpbyer'1.
WHEREAS, Tha Empoyer atlopted the Tawn of
Vail Enployeus' Pension Ptan {hareinaNer toler-
rod to :!s the •Plnn'1 eNedrva January 1, 1983;
and
WHEREAS, the Plan provides at Section 8,1
7oliovn:
'The Enpbynr may amend, modify or terminals
Iho Plan...': and
WHEREAS, Iha Ertployar previously amended
Ihu Pkan in certain lochnical respeda and now
desires to lurlhar amend the Plan to add add6
lional enpbysea l0 1he coverage of Tha P3ur
NUW, 7HFREFOHE. the Errpioynt does hereby
amend the Plan in Iha following particulars:
APTlCLF 4
ARTICLE I
Adlcle 131 of the Plan is hereby omonded by ed•
ding Iha lolbwing section to iha end of such
Article: ..
"3.6 pariidpalion of Non•Parmanent Empbyees.
Any arrplayee who ks rx)t a permanent errployea
and az a resell is not an eligible employee in ac
cordanca with Section 3.1 shall bn eligible to par-
ticipate in the Plan on a kimited basis az provided
in Sedion 4,1A bebw. Suoh participation shall ba
eiledive as of the later of July 1, 1491 or suah
nan~permananl emQbyee's dale al empbymenL
ARTICLE li
Anew Sedion 4,tA is hereby inserted im•
mediatey fallowing Section 4.1 of the plan, such
Sedion to read in hs entirety as fdlovs:
4,1A Con[ribuiions for Non-Potmaaen!
Employees.
la} Empbyer Conlr~butionx. For each Plan Year,
the frrlployer shall contnbute to the Plan to the
ned'R of the Employer Conlribulicn AccouN of
each Pari>cipant who is not otherwise an eiigibb
employee, an amount equal to 1,5% of his
eligl7sle uronpensalion. The contribution of the
Ertplpyer lqr any Plan Year shall bo made no
later than 2 7!2 months folbwing the end of Ehe
Plan Year.
(b) Employee Contritwlions. Each ernpbyee who
is a partiaipanl but no3 olhorvvise an al'gibb
empbyee ahail be required to contribute 6% of
his corrpansarion to the PEan for each Plan Year,
provided that for the Plan Year endirsg Deeamber
31, 1991, such conlritsutions shall ha required
only aher Juiy 1, 799f.
(cJ Employer Pick•Up Cortlributions. The
~ err;abyea aonlnbutioa o1 av3ch particpant who is
not otherwise an eligible employee shall ba made
by the Er7ybyer and deducted Irom the compen-
safion otherwise paid to the ernpbyee for a}i com-
pansalion paid to such employee on ar aher
November 20, 1991, Such apniribrdion shall t»
considered 1o ba pick up oantribufions under the
Terms al Section g14(h] of the Internal Revenue
Coda d 1996. Such participants shall noE have
the opl'on of whether or not such cantrihuliotm
shag 6e healed as employer pick-up
cpntribuliang.
ARTICLE III
Section 6.2 d the Pian is hereby amended by ad-
ding Iha fc7lowing subsedion ro the end o! the
Plan:
(e] Vesting for Conlrbutbns for Non-Permanent
Errployens. The contriaution made pursuant to
Sedion A.kA by or for any participant who is not
otherwise an eligible employee, whether the con•
Iribulions are made dy Iha participant or by. the
erttpbyer, shall ba Tully vested and nondor•
tellable for all purposes.
ARTICLE IV
The amendments to the Plan set forth in Articles I
Ihrough Ill above shalt be elieciive as of July 1,
3991,
ARTICLE V
Except az hereinabove amended in Aside 1
Ihrough IV shave. [ha Employer hereby readopts,
real4irms and tedeciares each and every,
provision o} the Plan.
IN WITNESS WHEREOF, the Employer, a! the
disaetbn of its City Council and wish Iha consent
of the I'anicipanls, has executed this Arnend•
meal as a{ the ~ day of , 1991.
TOWN OF VAIL
gYt
Published in The Vail Trail
on Novarrbar 22, 1991
ro
.~.-~ " ~ ~
~+n ~ ~
ry ~ ~~o~~~~~a.~ ~ a
t
t.
sy
~.
~~
~.
o
4~~
~.~
~t_ -~ ~ 7L
i
i. -
r
._ h r.
:~
~' ~
~~~-~-
ti. _ ~ ~ d ca ~ y ~' o m ~~,, v~ O
L
~, ~G
^~
~~ ~~
~~
Q.
N
--._ ~;
~'~
~--
2 ~
~~
.~~
~' ° ~
~, ~ o
~~ ~
~,~ ~ ~ o 0 0~ ~ ~ ~i. ~b m ~
.. ~ ~ a: ° ~ ~ ~ ~ ~ as $
~ ~ ~~,~ ~ O ~~ ~ L .
G
Z ~ '~SS~ c~~ Q~ ~
a T~ '" di O A~~~ ~i~ ~.
~y ~ ~ ~
~~' {7
!!! ~ ~ CL
° ~i ~ ~m ~~
~.
~W
r
~m° °
a~~" ~`~ ~~O z a
~o.
~~
` ~u.~°~~ w qQ Tyr, p '~
v o`
em
~
'
~
n
~~ u; ? v q
~E 9G
6~
a
'r
q~
a'~Z~n~
~~
~
.d
~' .
y
~+y
~mp
5 Z to -1~^ (i ~v 4
~
M
mz
m~
~' ~~
~ ~~
m
~~
O yg~0~°~
0~
o
~ m
~ <o~ 2~ m~
~~ f ~.
~
~~, Z
~ p~p ~p~~C7°m
'~S} m~
-~+~YY
2
~
,x ~ m0 ~ L?r
~
~;
$
,
X a` Fs A. D 2