§ 62-131. Purpose.

Latest version.

The city hereby establishes a defined contribution retirement plan as amended and restated to provide funds for its employees' retirement and to provide funds for their beneficiaries in the event of their death. This plan is intended to be a profit sharing plan meeting the requirements of section 401(a) of the Internal Revenue Code of 1986, as amended from time to time ("code"), and meet the requirements of a governmental plan as defined in code section 414(d).

(Ord. No. 4306-10, § 1, 2-22-2011)

                    
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