HomeMy WebLinkAboutORD 1971-25 - Board 'i
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CE NO. 71-2 5
ORDINAN
i
h
I
TRUCKEE DONNER
PUBLIC UTILITY DISTRICT
ESTABLISHING RETIREMENT
PLAN FOR MANAGER ,
the Truckee Donner Pub 1 i c
W IEREAS,
the Board of Directors of
• lit District, pursuant to its Resolution 7124, has approved and
Utility y
ado ted a retirement plan with
California Western States Life Insurance
p
to ees other than the manager,
Company for the benefit of District employees,� y
and
�EREAS said Board of Directors have, pursuant to its Resolution p
VJ� ,
7123, determined and intend hereby to establish a Re t irement P 1 an for
• - t a d and adopted for its employees,
its manager, similar to that approve
NOW THEREFORE, BE IT ENACTED BY THE
BOARD OF DIRECTORS OF THE
TRUCKEE DONNER PUBL
IC UTILITY DISTRICT, as follows:
1. That there is hereby
established for the manager of said
District, a Retirement Plan
in accordance with the following terms,
conditions and provisions:
(A)- That payment of retirement
benefits hereunder shall be
and years of service
computed in accordance with the compensation
n the emp y
formula specified i employees plan hereinabove referred to, or
any amendments and modifications
therein, to which employees' plan
reference is hereby made for greater particularity; provided, however,
r's average earnings,
such will be the
that in computing the manage g
average thereof from the date of t
Ordinance to the last full month
his
g
of employment, prior to the manager's retirement.
(B) That in the
event the employees' plan hereinabove
another l an be su
bstituted therefor, then
referred to be terminated or p
in for the manager, or the employees'
this retirement plan established here
all rovide the greater retirement
plan
substituted therefor, whichever sh p
�
in computing in benefits her eunde r
ben efits to the manager, shall be used mp g
for the manager*
P
t
i
Page 114
October S, 1971
PAGE 2
ORDINANCE
NO. 71-25
payments or
(C) That the manager shall not be required to make
contribu
tion to the retirement plan
e s tab 1 i she d hereby for the manager.
(D) That no death bene
fits shall be provided.
That retirement benefits hereunder shall be paid to the
(E)
•
month 1 ass s, concurrently with the dates on which regular
manager on a y b
payments are made to employees,
and shall continue from the
payrollp y
date of retirement of the manager so long as he shall 1 ive.
t due to the prior years of se
rvice to the District by the
2. That
4 for whom this Retirement Plan is established, such plan shall
manager,
i
but a ent of retirement shall e in
be
deemed vested at this time, p ym
+ ,- reinabove contained and incorporate .
accor
dance
with the provisions ions he
and adopted by the Board of
Directors of the Truckee Donner
Passed p
Utility District at a regal
ar meeting duly called and held
Public U tY
i
Sth da
of October 19 71, by the
in said District on the y
following vote:
AYES: Moore ,
Anderson , Stone
Loehr Doyle •
NOES: '
ABSTAIN:
TRUCKEE
DONNER PUBLIC UTILITY DISTRICT
BY �-
PAt1L
As YLE, PRES I DENT F THE BOARD
ATTEST: l
a4A
} r
- CLERK AND ET OFFICIO SECRET AR
i
1
Page 114 A
October S, 1971