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Truckee rune u
Post office Box 309 a 11570 Donner Pass Road •Truckee, California 95734
T (916) 587-3896
August 15, 1983
Cal Western Life .
Contract Administration 1-11
Post off ice Box 959
Sacramento, California 95804
Subject: TDPUD Defined Benefit Plan - Contract #96115
Gentlemen:
The Board of Directors of the Truckee Donner Public Utility District have
resolved to amend and restate the existing defined benef it plan to allow the
use of higher yielding investments and lower cost, guaranteed issue life in-
sur anc e pro duc t s.
Cal Western Life has served our plan well over the years. our needs have
changed and more flexibility is required.
The Trustees of the plan hereby request and direct Cal Western Life to pay to
the Trustees the current value of assets held in Contract #96115, plus the cash
surrender value of all life insurance contracts held by the plan*' The life in-
surance contracts enclosed herein, are to be surrendered effective August 31,
19839
A check in the amount of our plan assets if to be made payable to the Trustees
of the plan, and forwarded through the Wayne Richardson Company, Ind. A copy
of the Board resolution authorizing amendment and restatement of the plan, plus
the joinder agreement setting forth the new plan are enclosed for your records.
If you should have any questions, or desire additional information, please don't
hesitate to contact any of the Trustees at (916) 587--3896. We wish to express
our appreciation of your fine service over these eleven years.
Sincerely,
John L. Corbett, Trustee Karl Kutte ustee J me s A Maass, Trustee
R q ,
`T
Co R. vanLandingham, Trustee ame s R. H Milton, Trustee
WRC/smc
JOINDER AGREEMEW
DEFINED BENEFIT PENSION PLXN
The unders isned Employer adopts the provisions of the Defined Benefit Pension Plan
("Plan") and Trust Agreement ("Trust") both of which are attached hereto and incor-
porated herein, and in connection therewith, the Employer makes the following •
statements and selections :
A. E l?:.�4�� I`FOR%LAT IOC►
(1) Legal Kane of Employer: TRUCKEE-DONNER PUBLIC UTILITY DISTRICT
(d} .address: Post Office Box 309
Truckee, Ca 95734
(3) Type of Entity: Political Subdivision
(4) Date or Incorporation: August 9, 1927
15) Employer Identification No: 94-6001449
(6) Date Fiscal Year Ends: December 31s t
(7) TelephoneNumber.*. ( 916 5 8 7-3 8 9 6
B. PI AN 1 N F0RMAT I ON
(1) time of Plan: Truckee-Donner PubMMMSMMMNM�lic Utility District
Defined Benefit Plan
(2) Plan Number: 001
(3) New Plan or Amendment: (Select one only)
} a. This is the initial adoption of the Plan and Trust and the
effective date is:
b. This is an amendment and restatement of an existing Plan and
Trust, copies of which are attached hereto,
The effective date of this amendment and restatement is
January 1, 1983 . .
The original effective date of the Plan was: ,January 1, 19 7.2
(4) Plan Year: The 12 month period ending December 31.s t
-1-
C. ELIGIBILITY / P.ARTICIPATION
(1 `lasses of Empl o=ent
( All Classes ( ) Employees not included in a Unit
of Employees covered by a collec--
Salaried tive bargaining agreement in which
retirement benefits were the subject
Hour 1 y of good faith bargaining.
r
{ Other
t2 .y^e and Service Requirements:
a. Have completed I Fears of Service (Not to exceed 1 unless
immediate vesting is selected in C below, then not to exceed 3)
x j b. Minimum Age 25 (Not to exceed 25)
c. Date of Hire prior to Age 65 (Not more than 5 prior
rior
Y
to Normal Retirement Age)
(3'1 Lntry Date: (Select one only)
( a* First day of the plan year following satisfaction of Age and
Service Requirement. (Use if 6 months/age 24� .or less is elected)
( �;) b. The first day of the plan Year and the first day of the seventh
month of the Plan Year
D. COMPENSATION
(1) Cov Pensat i on Shall be: (Select those that are applicable)
( a. Basic Salary only
x b. Total Compensation (Per Form W-2 or its equivalent)
c . Basic Sa 1 ark• plus
t
( Overtime ) Bonuses ( ) Com,,i s s i on
E. N XA' RETIREMENT DATE
The NormGl Retirement Date is the date on which a Participant attains:
( f a. Age (Not less than age 55)
j b. Age �, or the 10th anniversar%, of the date participation
commenced, whichever is later.
( c. Age 6, or the 14th anni versarNt of the date participation
commenced, whichever is later, but not later than age ?Q.
_2_
F. EARLY RETIRENENT DATE
The early retirement date is the first day of the month coincident with or next
following the date on which the Participant attains:
( ) a. Age �. (Not Less than SS)
( x,) b. Age 55 , or following 10 years of service, if later
( } c. None. This Plan does not provide for early retirement.
G. VESTING
The benefits of any Participant who terminates his employment prior to normal
retirement age and early retirement age (if provided in F above) shall be
determined by the following:
(1) The Participant's Mandatory Contributions Account, Voluntary Contributions
Account, and Rollover Account, if any. shall be fully vested at all times.
(2) The remaining balance of a Participant's accrued retirement benefit shall
be i•ested in accordance with the following schedule: (Select one only)
( X) a. 10% per Year of Service
b. 20$ per Year of Service
c. 40$ after 4 Years of Service, increasing by S% for the next 2 years,
then increasing by 10% for each additional Year of Service to a
maximum of 100%. (All Years of Service oust be counted.)
d. 100% immediate
e. 25% after S Years of Service, increasing by S% per Year of Service
for S years, then by 10% per Year of Service thereafter to a iaaxi-
mum of 100%
( ) f. 100% after 10 Years of Service
( ) g. Other:
(35) The Vesting Computational Period shall commence on Date of Hire.
(4) In computing the period of service under the Plan for purposes of dete raining
the vested percentage, all of an Employee's Years of Service with the Employer
shall be taken into account, except the following:
a. Years of Service prior to age 22
( ) b. Years of Service during a period for which the Employee declined
to make required contributions to the Plan
c. Years of Service prior to the effective date of the Plan
{ �;) d. No exclusion
403-
t
N. EhWLOYEE CONTRIBUTIONS
(1) Mandatory Participant Contributions:
t X 1 a. None
( ) b. of Compensation
( ) c. o of the Life Insurance Premium
( } d. o of the cost of the Monthly Benefit
Contributions returned ( } with interest (X } without interest
(2) Voluntary Participant Contributions: The Participant
( ) a. Shall not be permitted to make voluntary contributions
under this Plan.
( X ) b. Shall be permitted to make voluntary contributions of up to
% of Compensation under this Plan (Not to exceed 10 0) .
I N ORTM RETIREMENT BENEFIT
(1) Benefit Formula
( X ) a. 40 % of Compensation reduced for less than 20 Years of
r
Service at normal retirement date, plus
( ) b. a of Compensation, plus °a of Compensation in excess
reduced for less than Years of Service at
normal retirement date.
( X) co . 2 o of Compensation for each Year of Service:over 20 years
( } d. $ of monthly benefit for each Year of Service.
e. % of Compensation for each year of past service, as of the
effective date of the Plan, plus °� of Compensation for each
year of plan participation.
of Compensation, plus e of Compensation in excess of
$ for each year of past service, as of the effective
date of the Plan, plus % of excess Compensation for each
year of plan participation.
x
elm�� erage Monthly Compensation Shall be
X 1 a. Average Compensation for the 3 consecutive years producing the
highest such average. If a Participant has less than such number
of years, then his total period of service with the Employer.
Normal Annuity Form:
X j a. Life Annuity ( } b. Life Annuity with 5 years certain
r ) b. Life Annuity with 10 years certain
J. EARLY RETIREMENT BENEFIT
If Earle Retirement is permitted under this Plan, the Early Retirement Benefit
shall be the actuarial equivalent of the Participant's: (Select one only)
( x} a. Accrued Benefit which is vested in accordance with the Vesting
Schedule in Section G and the Normal Form of Retirement Benefit
specified in Section I.
{ ) b. The entire Accrued Benefit and the Normal Form of Retirement Benefit
specified in Section 1.
K. BENEFIT ACCRUAL COMPUTATIONAL PERIOD XND YEARS OF CREDITED SERVICE
(1) The Benefit Accrual Computational Period shall be the 12 consecutive-
month period commencing on Date of Hire. A Participant must complete
at least 1, 00o Hours of Service during the Benefit Accrual Computational
Period in order to receive a full Year of Credited Service for benefit
purposes,
(2) Fears of Credited Service for accrual of benefits shall be based on Years
of Service completed while: (Select one only)
( ) a. A Participant
( X ) b. An eligible Employee
L. DEATH BENEFITS
The Death Benefit shall be: (Select those which are applicable)
( ) a. none
( ) b. Return of Participant Mandatory Contributions
( ) c. The Actuarial Equivalent of the Accrued Vested Benefit
( d. The Actuarial Equivalent of the Accrued Benefit
( ; ; e. The value of life insurance policies purchased on the life of each
Participant insurable at standard rates, equal to 50 times the
Normal Retirement Benefit.
( ) f. The value of life insurance policies purchased on the life of each
Participant plus the actuarial equivalent of the accrued benefit,
not to exceed times the Normal Retirement Benefit.
If anv Participant is insurable at other than standard rates, then:
( ��) a. The coverage will be issued with an additional premium
( ) b. The coverage will be issued with a graded death benefit
) c. The coverage will not be issued
Life Insurance is to be increased from original issue: ( X ) Yes ( } No
DISABILITY BENEFITS
The benefit in the event of Total Disability shall be: (Select one only)
{ ) a. None
( b. The actuarial equivalent of the Accrued Vested Benefit
C �
c. The actuarial equivalent of the Accrued Benefit.
N. ACTUARIAL EQU I VA LENTT
The Farb• Retirement benefit payable to the Participant commencing on the
.
Participant's Earl Retirement Date shall be a monthly amount of immediate
r �annul t ti• on the Normal Annuity Form equal to the Accrued Benefit to the date
oz Ear1v Retirement or the date of earlier termination of employment reduced
by 1/15th for each of the first 5 years Early retirement preceeds Normal
Retirement Date, reduced by 1/30th for each of the next 5 years, and reduced
actuarially thereafter.
All other calculations of an Actuarial Equivalent shall be based on the then
current rates of Hartford Life Insurance Company, excepting that
a lump sum equivalent cannot be more than if determined by the following
actuarial assumptions:
(1) Pre-retirement: i (2) Annuity Purchase Rate: 71 GAM
0. NIAI SCE TU.NNEOUS
(1) Inti,estments: The Trust Fund shall be invested by:
( �: ) a. Trustee(s)
b. Committee
( } c. Investment Manager
h
} d. Employer
l e. Participant
} f. Other
(,'21) Election 'Not To Participate:
Participants ( ) shall, or (x } shall not, be allowed to waive participation
in the Plan in accordance with Section 2.3 of the Plan
(3) Additional Limitation on Benefits:
If the Employer maintains another Plan which is qualified under Section 401
of the Code, then in addition to the limitations at Section 6.8 of the Plan,
the benefits under this plan shall be further limited as follows:
Not A licable
5
(5}
Participant Loans:: Participants c i ants ( ) shall. or ( X ) shall not have the P
right to make Participant Loans.
. HOURS OF SERVICE
(1) Cal cUl at ion: (Select one only)
( 1; } p a. An Employee shall be credited with Hours of Service on the basis
of actual hours for which the Employee is paid or entitled to pay7wnto
( } Employee
b. An shall be credited with 10 Hours of Service for each day
during which the Employee is credited with at least 1 Hour of Service.
r c. An Employee shall be credited with 45 hours of Service for each week
during which the Employee is credited with at least 1 dour of Service.
� )
d. An Employee shall be credited with 190 hours of Service for each
months during which the Employee is credited with at least 1 Hour
of Service.
(2) Leave of Absence: shall , or ( ) shall not, be credited
A Participant C )
gpurposes
with Hours of Service for vesting for Employer approved leaves of
�t
absence as provided in Section 1.20 (e) of the Plan.
PLAN ADMINISTRATOR / ADMINISTRATIVE COMMITTEE
An Administrative Committee (Committee) shall be be appointed by the Employer
in accordance with Section 11 to act as the Plan Administrator;
( I Yes (X } No
R. ADOT i ION
The undersigned Employer adopts the Plan and Trust, subject only to the
� P
acceptance by the Trustee(s)
accepts
i;�t� unfit rs i ned Trustee(s)s) the Plan and Trust in the form attached hereto
3�;i , agrees to serve and to be bound by the terms thereof.
In adopting and accepting the Plan and Trust, the Employer and Trustee(s) acknow•.
ledge and agree that they have obtained, and will continue to obtain, whatever
le �I and tax advice they shall deem necessary or appropriate in connection with
e`tab 1 i shing and operating the Plan and Trust, and further acknowledge and agree
that the Plan's consultant, Enrolled Actuary, accountant, and other duly appointed
a c!nts are not responsible for any legal and tax aspects of establishing and
�, P
o^e rat i ng the Plan and Trust. In addition, the- Employer and Trustee agree that
t
the Plan's consultant, Enrolled Actuary, account, and other duly appointed agents
are raj protected.,rotected, and shall incur no liability or responsibility, in taking,
pe r ri i t t i n g or omi t t in an action on the basis of any instrument executed by the
,� � g y
Employer, the Trustees) , or any Participant, which instruments shall be
01
conclusive as to all Plan Matters.
Tj:e u�lo14 er s i n also so consent to such amendments which shall be necessary to conform
g provisions this Plan to mandatory' of Federal or State Law and regulations or
ful ing s thereunder, and to those which add such additional elective provisions
as stay be deemed necessary or desireable.
_7_
Executed tr.� da of 19 �.3, in the State of California
dMMWWW V -- -
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V. EMP,'LOYF.R: -1-MCKEE-DQNNEE 1211BLIC XT-ILIIY 121.5TRICT
$�.. _ , Title: f0 vLi� .
By: Title:
THE TRLSTHE $ .
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AD Nf I N I ST R I I« COMM ITTE E
The members comprising the Administrative Committee, as of the Adoption date of
the Flan, are as follows:
Not Applicable