§ 34.17. Amendments to program.

(a)

The city council amends the money purchase plan adopted in section 34.16, by adopting the amended Prototype Plan E sponsored by the Prudential Insurance Company of America, in accordance with the completed but unexecuted specimen plan and specimen trust, which is incorporated by reference as if fully set forth herein.

(b)

The city retirement and pension program, referred to as the Prudential Insurance Company Retirement Program, Prototype Plan E, (see section 34.16 and subsection 34.17(a)), is hereby amended to provide that qualified employees' pension rights shall vest at 100 percent at the end of the fifth year of the employment of that employee. The amendment to the retirement and pension program, as stated herein, shall be effective as of October 1, 1989.

('78 Code, § 2-24.1; Res. 80-R20, passed 8-18-80; Ord. 89-136, passed 12-11-89)