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55A - RESO - PARS AGMT
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55A - RESO - PARS AGMT
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Last modified
5/28/2020 5:18:44 PM
Creation date
5/28/2020 5:12:59 PM
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Template:
City Clerk
Doc Type
Agenda Packet
Agency
Finance & Management Services
Item #
55A
Date
6/2/2020
Destruction Year
2025
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4.5 Purchase of Service Credit. <br />If a Participant is also a participant in a defined benefit governmental plan (as <br />defined in Code Section 414(d)), such Participant may request that the Employer transfer <br />amounts from his or her Account for (a) the purchase of permissive service credit (as <br />defined in Code Section 415(n)(3)(A)) under such plan, or (b) a repayment to which <br />Code Section 415 does not apply by reason of Code Section 415(k)(3). Such transfer <br />requests shall be granted in the sole discretion of the Employer, and if granted, shall be <br />made directly to the defined benefit governmental plan. <br />NB 564577,3 55A-56 <br />
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