No. 0279 authorizing/adopting an insurance, retirement plan for employees of the Department of Redevelopment, COSB

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Agent. Any such change, shall not be considered a deprivation of any Participant's right to any benefits accrued under the Plan. ARTICLE IX LIMITATION ON CERTAIN BENEFITS 9.1. Notwit standing any provision of the Plan to the contrary, if (a) the Plan is ter inated within 10 years after its establishment or (b) the full current costs of the Plan are not met within 10 years after its establishment or, if later, until the date the full current cost are funded for the first time, the be efits provided by the Employer's contributions for the 25 highest paid Employees as of the time of establishment of the Plan, but excluding those whose monthly pension as of such time will not exceed $125, shall be limited to the benefits provided by the larger of the following amounts: (1) $20,000, or (2) ai amount equal to 20% of the first $50,000 of the Employee's average a nual compensation multiplied by the number of years and fractions t ereof since the establishment of the Plan to the date the Plan in terminated or its full current costs are not met, as described in (a) or (b) above. 9.2. Any amounts arising on account of the operation of Section 9.1 shall be distri uted among the remaining eligible employees except that if the benefits of such remaining eligible employees are full funded, then any such a ounts shall be. 9.3. The above limitations shall not restrict the current payment of any retire ent benefits in a series of payments of any retired Employee while the Plan is in full effect and its full current costs have been met, nor shall the above limitations restrict the amount of any death benefits actually payable after the death of an Employee whether such death occurs before or aftler retirement. 9.4. If an Employee leaves the employ of the Employer by reason of retirement or otherwise while the limitations described in Section 9.1 remains applicable and such Employee is receiving a benfit in other than a series of payments, the benefit which he may receive will be limited to the amount determined in accordance with Section 9.1. If the Employee gives adequate security to guarantee repayment of any part of the distribution that is restricted in accordance with the limitation described in Section 9.1, he may receive the amount to which he is entitled and for which he has given adequate security. ARTICLE X DELEGATION OF POWERS TO TRUSTEES The Employer delegates to the Trustees the power to select and contract with the Funding Agent, the power to interpret the provisions of this Plan, and the power to amend this Plan, except the power to amend any of the elections and representatives made in the Specifications Supplement. If the Employer makes any change in such items, he shall forthwith notify the Trustees of such changes. Exercise by withdrawal with respec continue it ments for q 1954, as am shall be no Specificati he Employer of any of such delegated powers will be considered a such delegation to the Trustees, whereupon this Plan shall terminate, to such Employer, unless, by amendment, such Employer arranges to n force in a manner which permits it to continue to meet the require - lification under Section 401 (a) of the Internal Revenue Code of ded in which case the Department of Housing and Urban Development fied. ARTICLE XI is Supplement is hereby attached and made a part of this Plan.