Los Angeles County Municipal Code Part 10 Amendment or Termination

A.

Generally. Except as provided in subsection B, below, the Plan may be amended or terminated by the County at any time. No amendment or termination of the Plan shall reduce or impair the rights of any Participant or Beneficiary to the vested interest in their Accounts.

B.

Represented Employees. Notwithstanding anything to the contrary in subsection A above, with respect to Represented Employees, the termination of the Plan or the amendment of any Plan provisions that are subject to negotiation shall be negotiated with representatives of the Represented Employees.

C.

No Vested Contractual Rights. Because the Plan is subject to amendment and termination as set forth herein, neither participation in the Plan nor eligibility therefore shall entitle any employee to have the Plan or any specific terms thereof continued in the future.

(Ord. 2004-0063 § 1 (part), 2004.)

Any termination or amendment of the Plan pursuant to Section 5.18.430 shall be expressed in an instrument executed by the County on the order of its Board of Supervisors and filed with the Trustee, and shall become effective as of the date

designated in such instrument or, if no date is so designated, on its execution.

(Ord. 2004-0063 § 1 (part), 2004.)

In the event that the Plan is terminated by the County, the Trustee shall distribute each Participant's Account in a lump sum payment as soon as administratively practical to each Participant or his or her Beneficiary; provided, however, that such distributions may be directly rolled over at the Participant's or Beneficiary's election, and may be automatically rolled over as provided in Section 5.18.220.

(Ord. 2014-0017 § 4, 2014: Ord. 2004-0063 § 1 (part), 2004.)

5.18.460 - Failure to Qualify Under Code Section 401(a) or Satisfy Code Section 414(h)(2).

Notwithstanding anything else contained herein, the Plan shall be subject to the issuance by the Internal Revenue Service of (a) a determination or ruling to the effect that the Plan as adopted (or as modified by any amendment thereto made for the purpose of securing such determination or ruling) meets the applicable requirements of section 401(a) of the Code; and (b) a ruling that Termination Pay Contributions made pursuant to Payroll Deduction Authorization Agreements are "picked up" within the meaning of Code Section 414(h)(2). If the County does not receive such determinations or rulings within 12 months after it requests them or, if earlier, within 24 months after the Plan is adopted by the County, then, notwithstanding any other provision of the Plan, the County may elect to declare the Plan to be retroactively void as of the date of the amendment and restatement by giving written notice to the Trustee that no such Internal Revenue Service determination or ruling has been received, and cause the return of any Termination Pay Contributions and the earnings thereon to the Participants.

(Ord. 2004-0063 § 1 (part), 2004.)