Los Angeles County Municipal Code Part 11 Amendment of Termination

Subject to the limitations of Section 5.26.150, the Board of Supervisors of the County has reserved, and does hereby reserve, the right at any time or times, without the consent of any Participant, Beneficiary or other person, (1) to terminate the Plan, in whole or in part or as to any designated group of Eligible Employees, Participants and their Beneficiaries, or (2) to amend the

Plan, in whole or in part. Subject to the provisions of Section 5.26.120 no such termination or amendment shall decrease the amount to be contributed by the County on account of any period prior to the date such termination or amendment is approved by the Board of Supervisors of the County.

(Ord. 2004-0064 §§ 1, 2 (part), 2004.)

Any termination or amendment of the Plan pursuant to Section 5.26.500 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. 2004-0064 §§ 1, 2 (part), 2004.)

Effective as of January 1, 2006, if the Plan shall be terminated by the County, subject to the final sentence of Section 5.26.500, County Contributions shall cease, and the Investment Funds shall be distributed as if each Participant had then retired pursuant to Section 5.26.260 at the time of the termination, provided that the County (or any related "employer" as defined in Treasury Regulation section 1.401(k)-6) does not maintain a successor plan within the meaning of Treasury Regulation Section 1.401(k)-1(d)(4).

(Ord. 2007-0001 § 6, 2007: Ord. 2004-0064 §§ 1, 2 (part), 2004.)

Notwithstanding any other provision of the Plan, upon the termination or partial termination of the Plan or upon complete discontinuance of contributions under the Plan, the rights of all Employees to benefits accrued to the date of such termination or partial termination or discontinuance, to the extent then funded, or the amounts credited to the Employee's Account shall be fully vested and nonforfeitable.

(Ord. 2004-0064 §§ 1, 2 (part), 2004.)

Notwithstanding anything else contained herein, the Plan shall be subject to the issuance by the Internal Revenue Service of either (1) a determination or ruling to the effect that the Plan as amended and restated (and as modified by any amendment thereto made for the purpose of securing such determination or ruling) meets the applicable requirements of Sections 401(a) and 401(k) of the Code for a qualified governmental plan containing a qualified cash or deferred arrangement, or (2) a determination or ruling with respect to the Plan that is acceptable to the County. If the County does not receive such a determination or ruling within 12 months after it requests it or, if earlier, within 24 months after the Plan is amended and restated 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.

If, upon request by the County for a determination or ruling, the Internal Revenue Service determines that the adoption of Part 5 and the related provisions of the Plan adversely affect the Plan's qualified status, or that Termination Pay Contributions made pursuant to Payroll Deduction Authorization Agreements are not "picked up" within the meaning of Code Section 414(h)(2), then the County may declare Part 5 of the Plan void as of the date of its adoption by giving notice to the Trustee and cause the refund of Termination Pay Contributions and the earnings thereon to the Participants.

(Ord. 2004-0064 §§ 1, 2 (part), 2004.)