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2022-059 - Approving and Agreement Regarding Freeze of Fire Pension Fund & Authorizing the Mayor to Execute Same
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2022-059 - Approving and Agreement Regarding Freeze of Fire Pension Fund & Authorizing the Mayor to Execute Same
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8/10/2022 1:20:25 PM
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PARIS FIREFIGHTERS' RELIEF AND RETIREMENT FUND <br /> This Adoption agreement is adopted by the Board of Trustees as follows: <br /> WITNESSETH: <br /> WHEREAS, the Board of Trustees, has heretofore adopted the Paris Firefighters' Relief and Retirement <br /> Fund herein referred to as the"Plan"or the"Fund"pursuant to Vernon's Annotated Civil Statute, Article <br /> 6243e, the Texas Local Fire Fighters Retirement Act; and <br /> WHEREAS, the Board of Trustees now desires to amend and restate the Plan. <br /> NOW, THEREFORE, to carry such amendment and restatement into effect, the Board of Trustees does <br /> hereby adopt the amended and restated Paris Firefighters' Relief and Retirement Fund, the terms and <br /> conditions of which are fully set out in the attached Sections 1 through 13, which are incorporated by <br /> reference. <br /> Except as otherwise specifically designated in the Plan, the effective date of the Plan as hereby amended <br /> and restated is the latest of the following: (a) the adoption of an ordinance authorizing the issuance of <br /> the City of Paris, Texas Pension Bonds, Taxable Series 2022; (b) the execution of the Agreement <br /> Regarding City Pension Obligation Bonds by the Mayor and the Chairman of the Fund; (c) the deposit <br /> by the City of Paris, Texas of a City contribution to the Fund of an amount equal to the proceeds from <br /> the issuance of the City of Paris, Texas Pension Bonds; or (d) October 1, 2022 (the Effective Date). <br /> The provisions of the Plan set out below shall be applicabie to ali Firefighters of the Paris Firefighters' <br /> Relief and Retirement Fund who are active Firefighters of the Fund as of the Effective Date, and to those <br /> who become Firefighters on or after that date. The benefits of each Firefighter who had retired, become <br /> disabled, or terminated, as weil as each beneficiary whose benefits had already been determined as of <br /> the Effective Date, shall be as specified under the Fund provisions in effect prior to this amendment. <br /> Signed this day of , 2022. <br /> TRUSTEES OF THE PARIS FIREFIGHTERS' RELIEF AND RETIREMENT FUND <br />
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