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. 1�8. ; <br /> C� <br /> INTRODUCTION <br /> The City of Redwood City ("Employer") has adopted this tax qualified " <br /> governmental defined contn�ution plan for the benefit of its eligi�le employees to <br /> pmvide supplemental retirement benefits to eligible employces of the Employer in <br /> addition to the benefits employees will receive from the Public Employees' Retirement <br /> System ("PERS"). <br /> It is intended that this plan and the trust established to hold the assets of the plan <br /> shall be qualified under section 401(a) and tax-exempt under Section 501(a) of the <br /> Internal Revenue Code of 1986, to,�ether with any amendments thereto (the "Code"). It <br /> is fiuther intended that flu`s plari and the trust established hereunder shall meet the <br /> requirements� of a' pension `tiust' un�er California Government Code secdons 53215 — <br /> 53224, or their successor sections (the "Act"). At any time prior to the satisfaction of all <br /> liabilities with respect to members and their beneficiaries under the trust created pursuant <br /> to the this plan, the trust assets shall not be used for, or diverted to, purposes other than <br /> the exclusive benefit of inembers or their beneficiaries, as prescribed in Section 401(a)(2) <br /> of the Code. <br /> It is intended that the plan satisfy the requirement of the applicable provisions of . <br /> the Uruguay Round Agreements Act, the Sma11• Business Job Protection Act, the <br /> Taxpayer Relief Act of ?.997 and the Uniformed Services Employment and <br /> Reemployment Rights Act of 1994 (commonly referred to as the "GUST' amendments), <br /> and that the provisions of this plan reflecting the GUST amendments are hereby made <br /> effective as of the dates required by the legislation referred to in this sentence. <br /> 1 <br /> NB1:538180.2 <br />