§ 13-88. Definitions.

Wherever used in this article, the following terms shall have the meanings set forth below:

Beneficiary means the person who is the Participant's beneficiary under the Qualified Plan.

Board means the Retirement Board for the Bal Harbour Village Employees' Pension Plan and Trust.

Code means the Internal Revenue Code of 1986, as amended from time to time, and any regulations relating thereto.

EBA means the arrangement provided for in this article, and all amendments thereto.

Participant means a participant as defined in the Qualified Plan who is (i) an employee who holds a management-level position or (ii) highly compensated, within the meaning of Code Section 414(q).

Qualified Plan means the Bal Harbour Village Employees' Pension Plan and Trust, as defined in Section 13-26, or the Village of Bal Harbour Police Officers' Pension Plan and Trust, as defined in Section 13-40, as the case may be, both as provided for at article II of chapter 13 of the Village of Bal Harbour Code.

Qualified Plan Death Benefit means the aggregate benefit payable to the Beneficiary of a Participant from the Qualified Plan.

Qualified Plan Retirement Benefit means the aggregate benefit payable to a Participant from the Qualified Plan.

Supplemental Death Benefit means the benefit payable to a Beneficiary pursuant to the EBA following the death of a Participant.

Supplemental Retirement Benefit means the benefit payable to a Participant pursuant to the EBA by reason of his termination of employment for any reason other than death.

Village means Bal Harbour Village.

Words in the masculine gender shall include the feminine and the singular shall include the plural, and vice versa, unless qualified by the context. Any headings used herein are included for ease of reference only, and are not to be construed so as to alter the terms hereof.

(Ord. No. 508, § 2, 6-20-06; Ord. No. 516, § 5, 4-13-07)