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CITY OF REDWOOD CITY FLEXIBLE BENEFITS PLAN <br />INTRODUCTION <br />The City has adopted this Plan effective January 1, 2006, to recognize the <br />contribution made to the City by its Employees. Its purpose is to reward them by providing <br />benefits for those Employees who shall qualify hereunder and their dependents and <br />beneficiaries. The concept of this Plan is to allow Employees to choose among different types of <br />benefits based on their own particular goals, desires and needs. The Plan shall be known as <br />City of Redwood City Flexible Benefits Plan (the "Plan "). <br />The intention of the City is that the Plan qualify as a "Cafeteria Plan" within the <br />meaning of Section 125 of the Internal Revenue Code of 1986, as amended, and that the <br />benefits which an Employee elects to receive under the Plan be includible or excludable from <br />the Employee's income under Section 125(a) and other applicable sections of the Internal <br />Revenue Code of 1986, as amended. <br />ARTICLE I <br />DEFINITIONS <br />1.1 "Administrator" means the individual(s) or corporation appointed by the City to <br />carry out the administration of the Plan. The City shall be empowered to appoint and remove the <br />Administrator from time to time as it deems necessary for the proper administration of the Plan. <br />In the event the Administrator has not been appointed, or resigns from a prior appointment, the <br />City shall be deemed to be the Administrator. <br />1.2 "Affiliated City" means the City and any corporation which is a member of a <br />controlled group of corporations (as defined in Code Section 414(b)) which includes the City; <br />any trade or business (whether or not incorporated) which is under common control (as defined <br />in Code Section 414(c)) with the City; any organization (whether or not incorporated) which is a <br />member of an affiliated service group (as defined in Code Section 414(m)) which includes the <br />City; and any other entity required to be aggregated with the City pursuant to Treasury <br />regulations under Code Section 414(0). <br />1.3 "Benefit" means any of the optional benefit choices available to a Participant as <br />outlined in Section 4.1. <br />1.4 "Cafeteria Plan Benefit Dollars" means the amount available to Participants, <br />pursuant to Article III, to purchase Benefits. Each dollar contributed to this Plan shall be <br />converted into one Cafeteria Plan Benefit Dollar. <br />1.5 "Code" means the Internal Revenue Code of 1986, as amended or replaced from <br />time to time. <br />1.6 "Compensation" means the amounts received by the Participant from the City <br />during a Plan Year. <br />1.7 "Dependent" means any individual who qualifies as a dependent under Code <br />Section 152 (as modified by Code Section 105(b)). <br />1.8 "Effective Date" means January 1, 2006. <br />1.9 "Election Period" means the period immediately preceding the beginning of each <br />Plan Year established by the Administrator, such period to be applied on a uniform and <br />