Upon making an employer contribution to the trust, the employer shall notify the committee or its designee in writing as to the amount of each such contribution made on behalf of each participant. The committee or its designee shall then allocate such contributions to the accounts of the participants for whom such contributions were made.

The above notwithstanding, the amount of employer contributions for any participant shall not exceed in any one plan year the sum of $30,000 plus any permissible cost-of-living adjustments under regulations issued by the Secretary of Treasury pursuant to the provisions of Section 415(d) of the Internal Revenue Code. (Ord. 6748-NS § 1, 2003)