Lake Wales (Current through Ordinance 2023-17, Adopted 7-05-2023) |
Code of Ordinances |
Chapter 16. Pensions And Retirement |
Article II. City Of Lake Wales General Employees' Pension Plan And Trust |
Division 2. Ordinance 99-02 General Employees' Pension Plan |
§ 16-66. Coordination of Benefits with 401(a) Plan.
Effective on Tuesday, April 19, 2022
(a) Coordination of benefits with 401(a) Plan: This Plan shall coordinate with the City’s 401(a) Defined Contribution Plan. When a member has reached the $75,000 maximum benefit limitation in Section 16-46, as projected by the Board Actuary, the member shall join the 401(a) Plan.
(Ord. No. 2020-07, § 1, 07-07-20; Ord. No. 2020-34, § 1, 1-05-21; Ord. No. 2022-11, § 1, 4-19-22)