Title
Amending the Pension Plan of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota.
Body
WHEREAS, the Public Housing Agency of the City of Saint Paul and the City of Saint Paul, Minnesota (the "Employers") currently maintain the Pension Plan of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the "Plan"); and
WHEREAS, the Employers have reserved the right to amend the Plan under Section 10.01 of the Plan; and
WHEREAS, the Employers wish to modify the Plan to comply with the requirements of the Worker, Retiree, and Employer Recovery Act of 2008 and the Small Business Jobs Act of 2010; and
WHEREAS, the Employers deem it advisable, in order to maintain the Plan's tax-qualified status under the Internal Revenue Code, to approve this Amendment to the Plan; and
NOW THEREFORE BE IT RESOLVED, by the Saint Paul City Council that the attached Amendment to the Pension Plan of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota is hereby approved.