Chapter 3.10
MONEY PURCHASE RETIREMENT PLAN AND DEFERRED COMPENSATION PLAN

Sections:

3.10.010    Money purchase retirement plan established.

3.10.020    Deferred compensation plan established.

3.10.030    Cascade’s authority.

3.10.040    Chief executive officer’s authority.

3.10.050    Loans.

3.10.060    Chief executive officer duties.

3.10.010 Money purchase retirement plan established.

Cascade will establish a money purchase retirement plan in the form of the ICMA Retirement Corporation governmental money purchase and trust, pursuant to the specific provisions of the adoption agreement. [Res. 2000-01 § 1].

3.10.020 Deferred compensation plan established.

Cascade will establish a deferred compensation plan in the form of the ICMA Retirement Corporation deferred compensation plan and trust. [Res. 2000-01 § 2].

3.10.030 Cascade’s authority.

Cascade will serve as trustee under the plans, hold the assets of the plans in trust for the exclusive benefit of eligible employees and their beneficiaries, invest the funds held under the plans under the ICMA retirement trust and the assets shall not be diverted to any other purpose. [Res. 2000-01 § 3].

3.10.040 Chief executive officer’s authority.

Cascade authorizes the chief executive officer to execute the declaration of trust of the ICMA retirement trust, intending this execution to be operative with respect to any retirement or deferred compensation plan subsequently established by Cascade, if the assets of the plan are to be invested in the ICMA retirement trust. [Res. 2009-19 § 1; Res. 2000-01 § 4].

3.10.050 Loans.

The plans will not permit loans. [Res. 2000-01 § 5].

3.10.060 Chief executive officer duties.

The chief executive officer shall be the coordinator for the plans; shall receive necessary reports, notices, etc., from ICMA Retirement Corporation of the ICMA retirement trust; shall cast, on behalf of Cascade, any required votes under the ICMA retirement trust; may delegate any administrative duties relating to the plans to appropriate entities; and is authorized to execute all necessary agreements with ICMA Retirement Corporation incidental to the administration of the plans.

Chief executive officer may (A) retroactive to January 2007, distribute to individual employee retirement funds the Social Security taxes previously paid on behalf of its employees, upon receipt from the IRS, (B) retroactive to the August 2010 payroll period, deposit continuing Cascade matching contributions into employee retirement accounts, up to the maximum annual Social Security wage limit, and (C) create, modify, and administer employee retirement benefit plans, including employee and employer retirement benefit contributions in lieu of Social Security, up to the maximum annual Social Security wage limit and not to exceed employer retirement plan contribution percentages prior to discontinuance of Social Security in August 2010. [Res. 2010-19 § 1; Res. 2009-19 § 1; Res. 2000-01 § 6].