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�� r . <br /> l� 22 <br /> "Hourly Pay Rate" meaas a Participant's hourly `�ate" of pay according to the <br /> Participant's most recent "Pay Stub" (copY attached hereto for reference only). ` <br /> "Ineli�ible Employee" means aa ineligi'ble cmployee as provided herein and in <br /> the applicable governing board policies and regulations promulgated thereunder by the <br /> Employer. <br /> "Inactive Participant" means a Participant who is no longer eligi'ble to <br /> participate because he is no longer in a class of Employees eligible to participate in this <br /> Plan but is still employed by the Employer. <br /> KIa-Lieu Hours" meaas hours credited to certain Employees by the Employer <br /> each year in recognition of extra hours worked and paid to the Employee each year or <br /> contributed to this Plan as prescn'bed in Schedule A. As defined in the Fxecutive <br /> Management Summary of Benefits as attached herto for reference as amended from time <br /> to time. <br /> "Pariicipant" means a Darticipant under Article I hereof. <br /> "Normal Retirement Age" means fifly (50) years of age. <br /> "Normal Retirement Date" means the first day of the montu coinciden� with or <br /> next following the date on which the Participant attains Normal Retirement Age. <br /> "Pay Master System" means the City of Redwood City payroll system. <br /> "Pay Stub" means the document provided by the Employer to the Employee that <br /> accompanies payment of wages and other benefits or notification thereof (if the <br /> Employee elects to have his/her net pay automatically deposited in his/her bank account) <br /> and that, among other things, identifies the sources of all wages being paid, the <br /> deductions therefrom, and net pay. The Pay Stub may be in electronic or hard copy <br /> format. A specimen copy is attached hereto for reference only. <br /> "PERS" means the California Public Employees' Retirement System. <br /> "Plan" means City of Redwood City PARS Retirement Enhancement Plan. <br /> "Plan Year" means the consecutive twelve-month period beginning on January 1 <br /> and ending on December 31. <br /> "Plan Administrator" means the individual or position designated by the <br /> Employer to act on behalf of the Employer in matters relating to this Plan. If no <br /> designation is made, the Employer shall be the Plan Administrator. If a Plan <br /> 15 <br /> NB 1:5381802 <br />