55C - RESOLUTION AND AGREEMENT PUBLIC AGENCY RETIREMENT SVCS

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"Code" means the Internal Revenue Code of 1986, as amended from time to time. "Compensation" means all compensation paid to a Participant that is attributable to services performed for the Employer and is includible in the Participant's gross income for the Plan Year. Notwithstanding the foregoing, Compensation shall have the meaning of "includible compensation" as defined in Code Section 457(e). "Effective Date" means January 1, 1992. "Eligible Employee" means all of those Employees of the Employer whose participation in this Plan is not prohibited or restricted by the provisions of a collective bargaining agreement or another plan or retirement system maintained by the Employer. Additionally, Employees who are exempt from coverage under Social Security by federal law or regulation shall not be Eligible Employees. "Employee" means an employee of the Employer. "Employer" means the City of Santa Ana that has adopted this Plan. "Normal Retirement Age" means the range of ages from 55 through and including 70 1/2 as designated by the Participant. Any Participant who works beyond age 70 1/2 may designate a Normal Retirement Age greater than 70 1/2; provided, however that Normal Retirement Age may not be later than the date or age at which the Participant terminates employment with the Employer. "Participant" means a Participant under Article I hereof. "Plan" means the City of Santa Ana Public Agency Retirement System 3121 Part-Time Social Security Alternative Retirement Plan. "Plan Year" means the consecutive twelve-month period beginning on July and ending on June 30. NB 1:564577.3 20 55C-61