EXHIBIT B SUMMARY OF REVISIONS.DOCX

Maricopa County — Formal (2018-05-23)

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Exhibit B
SUMMARY OF PROPOSED REVISIONS TO THE BENEFITS DECLARATION OF TRUST
Title & Recitals
 Places the original effective date and most recent revision and restatement dates below
the title and in Item C.
Article 1: Definitions
[No change]
Article 2: Purpose and Application of the Benefits Trust
[No change]
Article 3: Organization and Operation of the Trustees
 Section 3.6 Vacancies - Removes the word incompetency
 Section 3.12 Quorum - Adds language requiring a full board to convene at least
once per year
 Section 3.14 Minutes - Adds language regarding how regular and executive session
minutes will be recorded, transcribed and approved
Article 4: Powers and Duties of the Trustees
[No change]
Article 5: Management of the Benefits Trust
[No change]
Article 6: Contributions to and Distributions from the Benefits Trust
[No change]
Article 7: Settlement Authority
[No change]
1

Article 8: Statutory Requirements
[No change]
Article 9: Dissolution and Termination
[No change]
Article 10: Miscellaneous
[No change]
2