§ 54-165. Amendment of plan.

The plan may be amended from time to time in any respect whatever by ordinance of the city council specifying such amendment, subject only to the following limitations:

(1)

Under no condition shall such amendment result in or permit the return or repayment to any city of any property held or acquired by the trustee hereunder or the proceeds thereof or result in or permit the distribution of any such property for the benefit of anyone other than the participants and their beneficiaries or joint pensioners, except to the extent provided by sections 54-164 and 54-171(d) hereof with respect to expenses of administration and termination of the plan, respectively.

(2)

Under no condition shall such amendment change the duties or responsibilities of the trustee hereunder without the trustee's written consent.

Subject to the foregoing limitations, any amendment may be made retroactively which, in the judgment of the retirement committee, is necessary or advisable provided that such retroactive amendment does not deprive a participant, without his consent, of a right to receive benefits hereunder which have already vested and matured in such participant, except such modification or amendment as shall be necessary to comply with any laws or regulations of the United States or of any state to qualify this as a tax-exempt plan and trust fund.

(Ord. No. 2003-27, § 1, 7-15-03)