R-79-231 - 8/9/1979and
. ATTEST:
NNE LAND, City Secretary
RESOLUTION NO. c3 J R.
WHEREAS, the City has considered the establishment of a Deferred
Compensation Plan to be made available to all eligible city employees,
elected officials, and independent contractors pursuant to the newly
passed Federal legislation permitting such Plans; and
WHEREAS, certain substantial tax benefits could accrue to employees,
elected officials, and - independent contractors participating in said
Deferred Compensation Plans; and
WHEREAS, such benefits will act as incentives to City employees to
voluntarily set aside and invest portions of their current income to
meet their future financial requirements and supplement their City
retirement and Social Security (if applicable), at no cost to the City;
WHEREAS, the U.S. Conference of Mayors has established a master
prototype deferred compensation program for cities and political sub-
divisions permitting its member cities and their employees to enjoy the
advantages of this program;
NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF ROUND ROCK, TEXAS
DOES HEREBY RESOLVE AS FOLLOWS:
The City Council hereby adopts the U.S. Conference of Mayors De-
ferred Compensation Program and its attendant investment options and
hereby establishes the City of Round Rock Deferred Compensation plan
for the voluntary participation of all eligible city employees, elected
officials and independent contractors.
The Finance Director is hereby authorized to execute for the City,
individual participation agreements with each said employee requesting
same, and to act as the "Administrator" of the plan representing the
City. It is emplicitly understood that other than the incidental expenses
of collecting and disbursing the employee's deferrals and other minor
administrative matters, that there is to be no cost or contribution by
the City to the Program.
RESOLVED this 9th day of August, 1979
1
RY L'TI M'or
City of Round Rock, Texas
ATTEST:
the City to the Program. ?'.'t� r (c
RESOLVED this 9th dayyofAugust, 1979
i0 N, h
Round Rock;i,Te
h 4' ¢' :24` c"-+?'2:fr
RCSOLu ION _ . t .rFddv � �p
TION N0. r k o 4,•
; . WHEREAS;`;the. i t i a n sidere<^ • F hr ee s ta b l t sh ment f a Deferred,
• �a' fi0ri4ip�u^&t Z':,Y � .. , z,i't • • ,• ', ; • Err.,,- :
Compensati Plan"to_be made available =to".a11;:eligible ,cityemployees;d
'}' kU ?Oc i�'sk ,T15$1,rtyShY,X. . .::r; •' r,.,. , .to
elected officials, and ndependent contractors 'pursuant
'k:X - iw , 0msii'se4:- ?-�°`- ttt .•iant i� i�fJ wasi 1,-, •` Y p
assed Federelj egislation permittingsuch.Plans;, {v, "13 a,,
6 .r , • t . . 5 .. > ;44, , ,V4I. ° •aca:�;: ,, ti'' ,� i�dAY:1 '- 1= JV` :...,;4•, ar,�
t,, WHEREAS,'; certain substantial J,tax.benefits• could accrue to employe
elected off- �'�- krr r ..tr .•g;- ;+,i�.,vin: -,•... •n ,, - -, 4, 'AA land'indepe Officials; partiripating aid
Deferred CompensatidnvQla - , °_�� yip
;, WHEREAS , such b ene f i s w a `a ' ' Ci t y e t &es O
k ills et .R .%`49, a t -r'i City e to
i , rFy , •ssk."yrn'. {�; ���: sr*ig'�r,=;�a,tar;; .�,r; ^s.v.,� a�,
- volun t a rl y Se aside 'and
"t ' portions' of�
meet their future. fin ptement _ ancial •requirements.and•sup their City,,
reti a applicable) .. i3,1m,..., . .: .p,p. - -, , t ,
. . ....
i xSeurity a p , > ) atno co t
• .-to s the City
,e
'I - t:
`
'WHERFAS, U.S Confer has established a master
prototype deferred, pr „for- cities and political ; sub , .
divas "i= v emplo r.. njoy th
.
ions permitting t titles A rid their ye to enjoy
of „this4progr �.# . .1 ; ' "es •,s;+,:Hw , °, i;, s r
NOW THEREFORE,THE:,C,I COUNCILYOF j CITY OF„ ROUHO,ROCK, TEXAS` s
DOES HEREBY RESOLVE FOLLOW S ^,- .,�;;, >F''y''`` " "'''w "x
The City Council hereby adopts the U.S.TConference o f Iiayors De
;•.,t •;. , ?..,.. ; % ,,,.
ferred Compensation Programi it attendant'; nvestment,options
hereby establishes the City.of,Round Rock Deferred'Coensatioq `plan''_,
i u+:r, ,ili rg +. .. ••:•ss^ . : .k ; < , ,mp ,_ .. . , . .
for the voluntar
y participation; a1heligible city employees, elected
officials and independent; contractors: t • :.
The Finance Directori,is.hereby•authorized to execute for the City
individual participation Yagreements-.with each said employee requesting
same, and to act as the ,"Administratoof..th plan representing the
City. It is emplicitly;understootihat other than the incidental expense
of collecting and disbursing the employee's deferrals and other minor
administrative'matters, that there is to be no cost or contribution by
NATIONWIDE LIi'EI sulaNCECOMi' tgan Company)wdl Mai; payments to Ehepo}
' Itle'd to them, in accordance with" fir aub ect� . tho terms of lhls Contract. 3 $
Q4` :Y y i�
4.4* S•t
ROUND ,ROCK
; >T?."�?
DEFERRED COMPENSATION`P
Jurisdiction -
E INSURANCE. COMPAN.
oiui o ficE ar Y Y
LAZA • COLUMGUS OHIO 432IG i
Contract Date:
GROUP FIXED,FUND RETIRCMENT.CONTRACT
' ? 4 >' 'PARTICIPATING::..;. +,;:5 -.,
NATIONWIDE Lin ,c
persons entitled U+ere - d INS' CE COMP
a ill' rmca ictt"h °md ub]`ec
�1-,,...�a�Y� ',ti..y��.�.. a �.� y : r - , •„;;�• �, ; ,.._ - licaiit•
, app Fixe F1nnd',Ret arentJ;ContractNo lhe:APP } « . ; t y y
for the attactiFd G1'wp ;. , .�'.< r� r
roves and acc the; ter"md'�of•,tho.Conntractr• r • >� � a;4, , +, ' ,
t;r ",5; � ,t' ., �'k.�;,
$ licant a ees to a per orm the'duties4of Hie Owcer, the Contra i imder p
The APP..;, .' ` „ r n1L thie
<A
1 the date thilicaeion
it ie'fwt her °egreed,tha as.0£ •later „oE r (): -
for and Acceptance of Fixed.F itetirarent Con tractris'Signed e,
(2) the details of ° wtii.ch;, fContid`ot` by the,Company ` y v
Application for :enCACCeptancerof..Group Fixedhe•nd Retirement Contr t
shall supe rsede. prelimsYtppl aiiie cut a ' „`
s:O
c
Sr•CONPERE S C
C 1
FNS T] 9PROCRAtiV +
1E g �
Agreement.effect:
:.E?�tr",'•x Cc.^`%fi�•:`�ift'1fi�;��� a,' o b ,. s�!` .• "t�'
:5'�c ¢ 'Cit" aet o!:• 9:,uY,and' evc2n •'e
lough
(they"1T 4 `f �.� Fs.Ltim 1 yaea�rAs` 4�l+ft
kap'Natio xida n „ t r d"�
Com
psa �o Pl'atl
ure R°+Compa p ' '� r y,
nY f Co�um ua';Ohto
<t....3+8%f^t•"�;.>r+gin P y�da• enefit$a v � ` -rayls Nat ons}den
•3' x-.;x r s C¢8'COT o r Se a t � ,a�,•�7r �+
+ (tPEBSCO)'1� ' s' P Pa on.yof 0 laoma;�`'t'�'�'•bSrS,
CxtY�.'Cklhhoma
yt Sfiereas, the C .3 + r '
3'? e �•r� .
sa on' Y n he`emplo sass n, 12-`iy
aa^deflsiedkb roc[ a 57 ;' 'h D'£erred-CogPen,
°. ti
^�',r-t,.,r- •r���•• 4 nK4 A�o h Irttei`raal�Re-vanue';'�C.ode M1an'g vp' ,n
ss b'he rasa, the tN '
.•..�- ...�'i:, ✓.s�•
?;rCounsel that its`~ i t x ata -firm Iva nlon'o
_ 2 Protoi
«rot;aYPe Plan a9 provided't �
,.«fereace nor C�CI�' r• "a�c? ,L,- ."•'� ^
s� j.� "•, .r _ Y as'part•of
Sri... .>...-: a,Yors'jDeferrr�e�pCpmpens tioa�'''t•' ��
of t '
he I coafotmance'bY
•, - _ .ntemal Ravonue�Co� and '� ^`"' ,w th,Saatibn
. [Glherea CO
a s'PEBS propbsas`; acSe
x:.s• Pt the Ye's on9 ^
r
-,,":,Include they '"R ability-of^Flan C? 'hA y
r�?Ployee commurii� n� ll
it
a roil 't`iordiaatNprs 'to•� ,.;er• ,,�;a;r_�a.�� ment'ofem4•;
erfo C4,
Car'ca •'
=hc p rmtrain admiriis r " e %3'_'i'''+°� '! `Siip' a'Pand
` ;rS�-' :.,c:>4��;i"�;�,<v, 64. A.• ativ¢P Yrollsarvices•and'
fjWhereas, Nationvide� rp�-'� •,. �'���
, a •it r..> •��s �.
Contiact a" "A 3 s,.Crou 'sRetlrement;Fupd
to fund�tfie£P2an�'aud:k-to
,4 F� 'r�,zi perfonaacert[in a -`' - `
,v aq nit Ra.tva ¢'' ce-s'" x-
!t- N¢v, [herefore,
Inc' f �`
"TAr' '
-,promises�e' n',,;:• •"'`"�' a� ,r -�°"
i
hereby t- e oniained°
{I y Y mutually afire¢as-`f u J A•.;,• crein,,,the Parti�e''pc4
011a44i73. y�� ,5
,S- •�' '•;:: '.fir ��Kr� �- y% .� 4J'iY-rh t,
1I ;'`� •_M.cea_`an�a rf Contrac[i��,.�.,, `i, q..' �;,.. .Loi,5�rtip':°v •f�• ;h••r� �
c
the�APPlicaiiCa
ig. `Ski s p T•.a #cAed•Y`'•
�. - - ",�,;n�fi`-•fes`_.+��r ° ,]$� t F,, cW�a'.a sti,.� vt'•_�?u yp, ,s
f=r- - _ - ,.k;�"•�*• "�� �.a�.a��v`���y`;,�-4 EL sky..�,x,� h,1; 7.- 1
L� iks Ytt1'jif �•°� _
i
.yY
ccepts'vi 1 nv
0 6,0 21c
data �yo}f dthe,Partici
PEBSCO shalltsa
Da1•roll� data:' - �
� ✓'rS:t€YsYW as
''As ,part -o£;e 4'un tia_n,
the City M1a,'ewpl explain ttiajt
strictions der "Section
-During •. PEBSCO •. 11'.an
.•.the Nationwide Contract.
with interested employees to
questiona
pletion and filing Participal ion,Agreem ents
and the City''apayroll,de artmeat:, :., +, �• a
..1 -_� �.':.a .r.;::�.:ai i} 't.l- `r"..�'c�`- .uSii ••+�`t.,
•
and,its'individual
formjt "duties: and
g. PEBSCO will, with information,provide
t
..
necessary promotional' materials• fond
which materials ,shall- bn.aubmifted.
use. ;,71... City reserves "!t �he .;right toT�
materials.
h. PEBSCO will answer anyquestiona forvthey City,,
its national servi
• :
PEBSCO agrees to indemnify'ind hold hatoleas
1 ears :,a'g"''.,�•t:4a:^d -ss
officials for aaj , loss%arising,from , itOailu
• e assist';in;the'eom - :g,
ithgthe Plan Coordinator. �^ ,
+,Nationwide agreer-to accept
?ugh' the depository Aae
b 7 appropriate documenta
NatS onvid e -
a8rcee that - 1
3y= aov�v�lr
rk,e_rdepo
v dua a ar ici4
p e Fi £or pro a s1
r .,tha depoalte
111 prov a h
1p . ecesa8 a r 8 w,s "q iw,
y a or . )'z
Cli3e plpye o " t 11 nd too erakion t i
hav nthe
o knit
to
• - , t sn i t a i s . to !R °:'F w s,
Nationwide will taaintai an "individual accounti respect cf each Parti
1 0 , q�y '• t .+ r t`z r ..4 aye A#3 +''p0
cipantp;whosa de crrals are deposited Sntihn Nationwide Contract and will'
YV : -,
provida'an annu ind vidualized teme
stant- to each P articipant:Arefleccting ;
,`1'ai�.rs.,. »Pr ac,�`,�,,��c�� .,\ ' , , ,, f..,
.s, :•:;: i^j371,
both •total a cumua d ,value y Nationwide wil1pal�s�o
vide to thelC ran annual statement -- rlie tint individual Participant r account
,. .,'_ ,; §• 'kat' , t i f av v'
values and total Contract. valve z -'4 ,i''•Y`�o- .4i �, ° ,y:
... "`f
15
.' -'iA ° ', `i',��.- '�}'
sY ;COmpptiblevith'''fh a ".pr
cr a y.+1rw t ,y tYt'f 7 ;' •i i' vK:�.'
amen Si ar eto made necessary
special' prepared by an independeent "publi
'i7•� { -?\ te5cV.:��%. II TZt i•`,��. �r " a.' ..,Y�: � 2
the financiier.data of the U. S. Conference
'a1+b?dtt:c'd>+s
Nationwide willtp r'ovide'j`a
accounting ,firm concerning
Program. , 'p„ ' � bs '.'A : `
-.... _. igY..yY.,i \tii.- cam•' -• -3 ... :,.- ..v�.r: -.. _gin .. - ._-:i \ ik
Nationwide agrees'to disburse contract benefit amounts 80 provided foryg xl
- • ° f t':
by Participant ,elections, - ,underthe Plan Agreement and the Contract
a.. .i:.yVtetl4; V ir g,,;
directed by`,, the City from -time, to'time and communicated to Nationwide:'
,.', d. $, � \r� �sv,•c r";?.'3' ; y'' - • .'.'i � �a
by the CitgForath'ejlan:Coordinatoor, and to provide information•at source
.w •ri,�,�9 � �.� n ; ,� ';$if. "g` �'
`$
reporting aa`may_be„ required by,the';Internal Reven've'Scrvice
.. - 5�• ii" �;!',` 3�„ F A.," t` a�i :`�.•�.st:�'.�,�i::�'.r "S`.i %'. is� •�5'u - . - , , ... - - � ?si,'if_xrSSKS7t:M":
Nationwide agrcca'to indemnify, and hold harmless the City and its indivi
• '" :- s';y,•;q;N,s%., AS":u:�{ Yd:, r,; a",•t> . - a' - '✓ ,� '
dual officials for taaaay ; loae . arising,from its failure to perform its
-- .• - ,:' r N.f!S'S'Ji�.. ° - .!�n5'ti: =. .. - • rYw,s ..,
and service pursuant to'tha Agreement..: "�:� - • � f�'''� ��.
S. Term and Renewal.•%. This
from the effeetivedate
o rm } o aGthe en• $
Nationwide and PEBSCOs,withi
a it : :�ixp^i. •�`iY ' G4
,in tention,to,renek'ihe'A ra
wof. la
has not.provfded Natio wid d
ttha Agreement shall auto a is 1
., « ?.v $i' g ; is .;:�'••
months provided
, however�LLthar<
c ,
emen and
a d•ti
•Fdix4 �k xN } 'aM
e an PEI
The City agrees that in
contributions Ln
Nationwide until'disbursed`'to
ante with the Plan Agreement:.
npn renewal of this Agremment„
whose deferred compensation has
"'- . �� "'��:.�^"Pr•� Mfr, n: ;�e.h;,
The, Citylfurther agrees ' that in, the'event
Applicable Law. This Agreement,
laws of the State of T /r Y ,A. tS" x : S,•
ffirmativelq renei! but'
O�vitfi written notice of `terriinatl
i S T f' tri • ',(,i �y
f the Agreement` :,within twenty, (20) :day
ens renewal x ;p n roovisiona of this p ar a grapfi m `.
,, .4',�S j.:�kFE 'fi: y�,;'fi v :� +�Er ar
the;last ' its term. "` +•k!
e' non r Agreement " a7
a Contra,{e�.tf• shalls��- r.
remain with
i pe [ h0lis,benefieiary Ln accord
err,. ; Pt. - -,_ ;,. • - • if . • .._ , _
will not require those Participants
invested by the City in Nationwide's
Contract to change their invostment� the Plan A reement • though
,.,•k ;`t`''41 ' W: ,'za `9' iiti ., Z g irt •'ri
L tss
�}.c¢3: nve
the City nay permit thn Participint +to�anlect alternative investt
ment indexed
prospectively under the p lan A 8reemeat
- At Y, •` '*��'{ = K K.; '' �• °' "•`• �
ttil
. . -, 3 �' aq.x• ,` - . _.. .,.<
, S."1: :. "4 - 2 "r$3, `'t;'4 .`�:.•zF'.. :tip
Entire Agreement. This • � Ag• •en:ent;�e { ng ` < ` vith YheXontrace, conatitutes
entire agreement hetweun the pYrties Ind ther are no other agreements ',naaa
except a General Agent App andt'Adalnlstrative Service Agreement
• between Nationwide and PEBSCO.
iar v. ,c, rtlRti`2
DEFERREDCOMPENSATIOt4 • -P LIC'EMPLOYEES
oG F. ,,Y;{1,.=
'��t�+•.s=?r' @;�, rs� ;- �.��t'r �c ��+j � ereby: accepts
the U.Sr' Conference of ;Mayor def erYedtcompansation ;"prog ram 4
•s:. 't '7Fvey:!'`�5., i:.,,; p A" �`�t�= : �i�.�''R
dopts ^and establishe O
s_theC y >,DF' � I , 0 LWD /eC Deferred pyCompen-
z•; , 'a�;,ra44 " -:3;0. a*'. '�rrvt`ii''k`°Gt3 P ..s GS,,'+`.4*.` f.,
�"
fJ�sation °Plan'for Public Employees, (hereinafter;._alled'the Plan)
,$.•The Plan consists of the, forth ,in this., document,'
and • is applicable to ' each public employee ° who , elects ,`•to
°'!.'„ e. i : ;: g �y`r,,YZ f ^.: j:• , .•• . "' " : ;', :.; i liiY;(
.• participate in the Plan 4The c P1'an r, ' is ~ effective: 55;, �' e ac hii s u ch Y a
. ' „.3� L'4 -'q.i F F ".. `: t k 'A: i •s .,•� :4 '.� t : ✓ : ga 1
public on"the date the b ecom
employee u a �� "
P *s; 3: es '�ar r PARTICIPANT by
signing and filing the: Parti a tio A ree ' "� F ' herein
P 9 mentreferred to herein'
with the Administrator
A RTICLE T II�., ` sW " '$'
^.xi.�,.s:'' �v,
Election to Defer Unearned Compensation
•
2.01. Compensation will : betdeferred` for ;any calendar, month
':
:T ,� ' •Y:. •i tni' tit -F�'. `: , �"- �.5�., ;�,�'.,. i d' 'i.r :4':
only if an agreement .i
Y 4 providing'for�such deferral isentered.int
before the beginning of such month ';�zv °_.4 '" ^`'`.,. y, �', "�•'
:03- ' The tPARTIC x # ?.. {r
tua ?•xe'voke
:IV:, :? � ;•`i:" ;F+) ; 'i.A1TN ,k41,- v elect }bn ,to pa
c_a nd `may amend, th e . ' ` ' 4•+ . sa;ti .. k� d e r x
amountof compensation,.;tbe
., - - ; ;, r s ^ . 4 , � #x inr #y �xy`� .. ,, , ,.. _ , ts. 'o his
investment speci£ica i
on ' " "' "
bp• sxgning, e ., pg T •
-, ,, ,,.c? 4 ith " i nis-
tra ten'
w ri t, = o
ev '''1,5'' � ¢ ._ : s ,,, v. rat.
r-f lon or am ndmenton a- fosm,.and n
procedural r , '.i ,oS" �y , ' f a`•o 3 ;;a ,cr' ?
manner app roved,:b4t rAdministzator:
:. l ; Vr r � t .P. -:fir ,oy _cueh revs
z cation or am endment shal'be+effectiverprospectivel; only,tiand
i. .,
'shall cause no clan ti ,, , ' ' fl i Co r
ll '' ' amounts n
- pri o r
i ^;, i ; ; ge�in ea all*ocatioof amounts invested prior
to the film .: :tl. , • , 4 " : 4 Y ,Y °'` = • , ;., ...
g date of the amendment ozrYev
,* '''
The original ` - "� ?:`- � >t::vi. ..: .t•, + -° ,.
• • 2.04. ginal.,.elect ion to ;
}participate .shall ,be
e a s , tirri4 +w r
VF,. .� .. r , , >.. o n
effective for . °. ft r.
pay periods;.commencing;.durin ' tha,firsemonth afte
the date_on which the Participation le filed with the
Notice to ALL PARTICIPANTS y to` Read The sN " • ` ro
Read•These Provisions "•
. - 'Y - �:L'i P }..t �s�yf• 5 Sz• awt 9�
Providing Deferral Limitations" and ?C tch -up'
Deferrals Under the Pla
t , g 7 t , re; ri - :
Except w.y "y;' ,` , � ;
2.05, as provided�in
section' 2 x ' OG the maximum that
may be de
• :;% fo ;x; :e' 1 �.'i'3%.,- 3'* � °;.: - .�.:r
Y deferred under th the lese Plan =for the-; „ taxable yeaer
Y-
shall not exceed ' >•�...' ,: <t + ' a 'a`^ 3 a :r, ;t`'�"' ,, Sju�;.. , ,�,, �z
ser "of =,(a),$7'500 -or '(b) 33 1/3% of thee
PARTICIPANT'S includible •+. .+
compen •as „provided in I.R.C.
1954 6 457. - _ -...._ +:1,��. �y�'• 'i�.�•`c� - ., .r; •., 4•..i!'..
r'G. : p•�! 1 G Y �`� �axaoie
had.''ia7 PA llN,�Y o si'Y^"k}' ♦ y 1 { # F( C t y,
ea rsa?endingabefcre at aids a re i?oment,aga nderet
H?. Ji, c dpi 04"$aTi�'�•u .�'P��t t : .+�. �rx $33 � 7' •j�'�
Plan, th°a
jj mxi;,1 6 - ieferra l�al b- 'the -les er• ot(a "mis,000
^^t'1Fn+r,c.a'4 Aa 1°y @ 7 r;L791 � { t 7, - T'e!al''a�T' •�- #`
Y
a(eYv ( ;- 3efa Smi 3°n {stab Sor pu ,,l�of
S "2 OSxof he Plan for the A able yearx determined vithout regard
to %this section us .W xm y tationsest sne�_
5?- 331014 t. axart.L t�' a s,. + "•' ti ^k� i . .
y u 1 ' nder +' 2.05�£oY'taxableryeare e6 � t ora xable• not
m�?$Y >' r } „�n � ;aided' k *t'afit
heretoforaibeen used u dei� ec io >2.,04�orr� 06�as; provided in4,
p + vay, ,,,
�� } } _'�'_ �a;8. - Ol !! ••.The, E1IPLOYfR: 's aYl em he - deferredramourit
:•M -' "':. r rig ,A 0, . ai , a� t , 5'sii.`i°, ?' `Z„
ys.. :� :r ,,•,': -• ! .t.:, =P'� Tp �>R . � , •��.- �r + a .�.{t�x'': + �;' ? •.'. . rr��,,
Administrator, oi•his,,desi age The.,A shall''
d' ,.Y, "..., wa, p Y ,p pp�,,��q'r �" '2iY'. '�'6( °^',. %
1, - , . , _ ? - 4;:i ,",f'sf VAi : ti I .F
.have no,duty 'to determine•'whether� -the ^funds by :the
'r t i:. t ' 30 ' en e n _ f -r„
= EMPLOYER are correc norao. collect�oror5enforcesuch �
w s �
`'•3.02 For convenience and the f acilitate an orderly adminis -L
tration of tha Plan ;the Administratorysiall maintain a deferred
',..c : ^. , ,, , '.+;: e::k $4 +}r h `�;1�;:`:'� :31<y'� •
account with' respactato'leachrPAATICIPAN$ .A11 ,assetsjof; the Plan;'
a °F, ..— M, - - t4. G ° a K �4.A.�
.including all deferred amounts„ property and rights purchased with
3S y rT• 1.•s.:t -.i}l T 3 ;;'?.� ".`A." , I ' -,'"i ' ;5'
:
deferred amountsand` all, income attributable,to;suc,deferred,
-_ • , ., ,i'. ViX,b lr',°,i„Vc,`;was ;i_r c*,,. : ' so. :..::.
amounts, property; rights , Zshalbbehthe 'Texclusi`ae property of,
the EMPLOYER, and shallrbe subj to ;a11�,,the °claims of•creditors o
"' ": � t., 3t ; �. 2` titK,�;r- R;1h
:" ?r 7 s ' ' a'i; ' ;'r' - `+ •
-1:�;` 'viii �.� �}�y�ar:�� °`.1 „ v'�C - a,�f
the SMPLOYER,"`without . psotection; preference:+ •
- .. . , z s,0t f t,�,6m� POT r
r';s F• '. :: ' . ? "':. y a t r y , .
3.03 Upon receip o each - deposit 'of- deferred.amun s•
o
underwriter of'.the ) investment6C tion made pursuant'to,
this Plan, the PARTICIPANT] 5 deferred.account shall beacredited':
With +'amount'receivi
z PARTICCIPANT''S� deferred
kopp
calendar, ye
.. v3.04 A,''All int eves �' • di, ` vidends� ahar'gesw�rfor premiumsr; and "�
ad , trative' •(ss � �KS: � 3?'S • +, r j;'• , };;fs,
F V - ex enses 'and { n• va
. , „, p • ' s , +' changes i' luar;due ; to3 market
' , r . t,. ; a +.,. ` x` i+Y 'f'% •,-- e $r {' ow,,,,, i S n �'"}' 9 � " Y: ,f,,. 4 : 4 7,,
rN, fluctu w ould.sbe a
ations that 1 t '
pplicable_ to;q�eacht..PARTiC '
deferred a hid
l t I. fe r on e , $. - �� 3a'
-count *}iads. errad "�'investa
� ;' :�'::» •fir_ „ • .,'; ;
-�a•• arJ` °�' 1x nt °.:been cl;�
i 1 '�� =•
1t` e -k;. ;0. r �^ >
i4:i 'kA� , k .� ' c• e. -
accordance • with;h(.e`.investment specsfieation shall itied
�n re or
debited t Ci :„ : K•.+ ri ;'�'.: ,.
othe ._account *. ?ae the .occur': _ Al �' �`
Y , though n -
,therpARTICIPAN
� x�r� a%�7 `° r � u
't has no controh;oveictheyaccoun , all cred its -to .. °t h e P T
account shall 'be'subject tm and ` m e a s ure d , .if invested in the
PARTICIPANT'S then effective ,�investment- specification:
°A11
reports to the PARTICIPANT, shall )b ' on;'fair market value as
S S3 N�. x+, 7 1 dt 'i V, :. St:..; .: r.i
of , the reporting date , a if edefe±i a M d been invested
reg aount•ha
according to the PARTICIPANT'S ?.a
nvestment ` specification.
r Ys: s,,: i .Mr
;i +'• nor -_<' ,,T t','s` ftcRz�`•) f,ti_ ' "4 ._
3.05 -- Within ninety- (90);^days after,the�q ;end of ,the•calendar-.
u° • �,fd < C`nW`YS` K:r. A] r?sh= ' ".' T?.
•a ••:,
year, the Administrator - shall :•file4with-.the'EMPLOYERIa written!'-
report of the assets of the Plan6aschedule of all receipts and y ,,,,,ti ;>.; a<, - 8:.•• .
disbu:•sements: and a report of a11 " material transactions o
ry: t$.4,-5 4 . £ the'
Plan during the preceding_year:;Thisreport :shall b such form
and contain such other.informati
or require.
3.06 The Administrator ,shall -be open fo
inspection
during normal business hours by the EMPLOYER or any PARTICIPANT,
or their designated representatives.,, ,a.
_ ��• .
ate. �xy`i'a+ a +, `A n` b",i�yr�` �� u�f-•,y ��'�'��t
,�:r.' tL,2 �'t:t- �}7t�' � � ,.•rat �..,,,�r�@ ,,. n� �`3 v
ti � ;r r .��'P?,..". tC �,4 i• 1. `d n�' 1,s.:C:5":- a� �i
how
' •,-V' ':. •.«a:_;';``c�x •A✓ Oa 'Ir' ',F-4r, G'} • ,} ..,tsn`k7•ih r
,., s^Plan �-
>hetil"'R. CTP T�created''.by thi .
3:07�'�The:'rights�o£ the, A � � �,+:• » '.S u,.:�;�,,-•�
-and••in a714
,ihall,'beA thathoE•a.gener 1'cred�tgr oE'' e�Y• M ,#''�31>"'��
'Yn - " '�'m'arkeC, valuo ofr- t e deferrod Faccounf� _
amount,.equal to`.,"fairy _ ,+ yaalw' q',*'n;`i�•'b•i:?;iF .'�H n
' � f�'�zg'�;:«�:'�; - •c i=:.' '��;r;l, ,, � e�� ,,x #'•.qtr �'ned"ar Y;
' ito.ethe PA ermx
maintained with respect;��,R,_U �_ :��� .:�s;.'c• �� ,�
�y, p ,Lf,'..<:;eFf -k r` .,.,�, tiTI T•S.
ursuant.to'..the PARTICIPAN
«�e'+`;'deferzed amounts had"been;invested.p �,,.,•;,i,,,�„�,r -, ••.: :� •
�x,3 _ ;.:..• ,ret'.a:s_ 1 : -rye
!%!y cation:`, .The<PARTICIPAN acknowledges,that • '
'investment specifi a '`w•:�' "
,.:;:•;.��;;+,q:4.f. `••0 ,1. r•r`a, F -3f?::.,1','bYj.`•,i "3'• >•.; .:; 'i7 .'
' r ttian�ttioselof algeneral'creditor Eofw theFw
�yr kri hts are.,.' o greater F...• � r n4 fry w;•r�r
iti-r::.•- ; - :F%'w rt�' .:;< .• `f�,e -:"`, to im ose''a'.z'�;k•-,4
rx' w w
yti,7; ):bIPL0YER and�that`din.any su{iti• ford any' a cro,Y n4i, tg':_•,;P .,,`.,;: rA'V L,tu
« 1 s. the L
'f* constructive trust,,;�oY,�'tOf_ ecov�erany. sk, a„bde ;gthis,Plan:; e .-ye'
i<-'+;t:F, •..� _ r', 'eeral creditor of"-
limited to those of:a'gen xq+e
`PARTICIPANT'S rights are: p_µ $„•ifsr `}:a,ss'',,,=;,itit+ -•' �;
EMPLOYER acknowledges that the Administrator is gr
$s the EMPLOYER. The
'"
� ., ,• r ,, ':;�<
a
t c •t; 'y:
the agent of the EMPLOYER , ,�,.i,'?C'r'i•;, r ^yz•. i,t
x„
ARTICLEji Q`'°KR - „•E"s,;'. :.. .Y
Investment'of Deferred Amount
y'r. e• M EMPLOYER
4.01 The deferred amount shall,,b� '
e,•delivered b 'the f`15
to the Administrator or his designated agent who shall transfer to 'e'="_= •yt y
_ -
1'4
a specified investment.underwriter-such amount,. to be paid to the r t ''�
x such amounts were
PARTICIPANT pursuant to .Articlep V, as if-
invested in accordance.with.they PARTICIPANT„S`•investment specifi-4
cation chosen from among thosascribed in Attachment B her
eto
e�d . `_•arj^ r4
�.r #
4.02 The EMPLOYER"sshall<•only`;be,requi,red to use•such invest_J`.` r
ment specification as an'indexjfor,determining the benefits to be,' 'v ;�'1�
paid pursuant to Article,V.��,ThlaEMPLOYdR shall be under no
_
obligation to invest the deferred amount in such investment '• � >°
R Y
specification. All, contracts andu'other;evidences; ofthe
investments of all assets under this Plan 5halhbe registered in`a-•� ' 'a
the name of the EMPLOYER which shall be;the'owner thereof.
'I;�it,C�4
t J
a?: nefit9
i `01= 'Senefitc sh a l l1be aid >,i
t• t : e" a ARTIC
:fits {:payable } to, khet�P
t , , that oould ' ha
amounts be "enr•invested;;as specified
a) '
n ormal retirement..
under. this Plan. °; . Eu
.pro vided
�' .4• payment opt
dance with the -0w is
described in Attachment,B he
(b).. Earlye tirem<
retirement in accordance
receive the benef its _pry- { yurz yr,;, .•r ,_ :.. - «
with ahe :payment option selected by
accordanceM
shall be paid in ,•. I:, t. ":+ :n �?"�" „St;t ��...- er„_.,a. � _..,. „
shall be paid in accordancg
the PARTICIPANT and describ
of additional credits,un
PARTICIPANT after the month
the PARTICIPANT and described
(c) Late Retirement.:)
employment with the EMPLOYER4 aft
ag e, all benefits payable
(whether or not the PARTICIPANT.c,
:cut Sri 1
...mRMICIPI
v c• r •' � S,x's_r' °Fr _.. --F,•,
on• ent 1t the S ARTICIPANT'
w y ak
w OA � the E I.O ,sa
ER s=
b° nefit::
t • options' el
cordan
tc �. En:„ Q'�YF Y'� , '� Y�p1,
paid
terminateslhis'temp1oy en
;.n,,acce yi
'ARTI i
Yz." tiK; i'.°' A .'}''``'�, .'
CiPANT'an '� ' t c
d;deacr Iiereto��
E•�,•�-. J �' �; :����rl.v.'. f'�'ti,
F(e i, Deat)i: � Ifi;tho PAR T,ICIRANT dies;3'while'•employed
with 'the E ployerpand+tbefore retirement (early � no l
r•.rma)t
y , , x Yrb: aar?���?�;':h� � � _ g � �a�w.�{ r rv' a� tf��sr��.,�,
} without' "s termination'of 1 benefits' i bein g paid';to'h
' F� "'. r'I �
3 C,��.'�r. �'::{d:TilS,7�"Y�� �i< +�YF >'i� `�P'
this FPlan the',PA dies while rbenefits are ;being: paid
to ° him under.�thislrPlan,'aiid -befo su b t enef 4 e '
• 'v ; ;' : : 4'.; R, :c;•,`,` tf „, >: `iria' trz1VAV ,Z',;0"M• h ave .b,
• exhausted,: benefits p'eyableR er”
Undthis`(Plan shall be t
'c»
° his '-` '-`'design' ; a c o 3r� t r :; ' •
gn8ted "'beneficiary „„in ;anceI`e•with ; the''settlement `^
- � ' 7•' t Jl?A., -1 !•. ve:+it'(i'e' ". 1, 9 , •.:
option elected by 'the• or' and
described in Attachment B
- •e =;" ':=: • �” 'n. C v� �,�� f�h�y'�' • '' 4' i�i;'� ��:� °, ' s ue; °i$ti �•. A, , - '" t.:" `. °, y ;�,t�:
(f) Designated Beneficiary :'o° °The`;• PARTICIPANT,rsha11.
•', have the right to file , with•:the ; .•Adminictrntor,a written benefi -
ciary or change of beneficiary>;:form' designating the person or
persons who shall receive •the benefits'payable'under this Plan in
the event of the PARTICIPANT 'S.deathhe. . for this purpose
,
provided, the;
shall be rov r . r s•. ; , a e s. ,>•,
p .Administ•:ator, will have.no effect:
ed, f K e • A �
until it is si
gn � iledr. with& the +,Administrator by the .,
PARTICIPANT. ,,, .�;il , ;i;7 .. t ;tr': ?� ;t " r7 .. - ;�:r•Y
and. 'accepted` byv•the . +Administrator:;: • I
f'• l a the
PARTICIPANT * "'a t � : a,benefici . } �s�a'•z:r,'V ;' `.,� s- •;, • • . -_fin +,;*��
ANT dies withouthaving•ar form 1 on file,; th
payments shall be made to } the�properlyappointed fiduciary, of th
PP.RT?CIPANT'S probate estate. Provided,;that if y a fiduciary had
• tom., -
not been appointed and qualified,within one hundred twenty(120)
days after the death, the paymentuiay',be made first,'to a surviving
spouse, second, t n surviving ch
g ild 'children or third,'•to ati
days: ,the* occurrence
ginning }of the payme `S ,
nt of
Shor T erm' •or•yLunp Sum:Settlement NotNitli- W'
.'stendin �5 .: ':fir ^Y��.'s4 � r �•7i�;., }3�'',•,;�:a. .'`tl.�,r� ;�
� g ,anpthing:in`tthis Planto the contrary,' t " time; te
•.M : ". d " 6'.z«� „,� ,�• x '"91' rig, �A✓'^ ,� 4 k
Yi .. a rt.) • '. ,43< �2 1�rYK' iw. •ia- 22 r' the
- T
” Credit
amount lield iii' a PARTICIPANT' d =re'd�. account „ has "• a" `credit
::fir -F' 4 : 4 •C'• , '7 a , I' ' fy"?? 1 r t c�V"Er .,':
balance' of $2 ,000.00or less and;for_;any;,reesun other' than "' t, i( €:6 }�'1•`.`�" :;..;t ^" n`.' upS4:. ., °a,,;.•F:7r.tt -.; J �.. r :i • __.t;
retirement or disability,"the„ =PARTICIPANT: has,�,ceased to be
• ; Fy,q ' <F a7 ` z..ri'.`�K,,w °.•.; ;a
public employee,, t he Adniinistrator.may effect ar lump sum settle
ment. .fir 9 • , ' vuu`' t�+.. f`r"'t?'�cru"'(�'`{�'�.: d..` z
5.02 Notwithstanding' " anyothei rovisions, herein, in` th
"unforeseeable'
, 4" 3 " 1 101k
,• � Y rie ' l�'s''��;+t+ 1 FV :nt e ..:� : >'..- u v `, .. .t ':nr:•
event of ;emergency,:! •suchjevent being 'beyond th
control of the PARTICIPANT 'a PARTICIPANT:may request Admin-
a `' a' � e .
istrator to .- .3.
pay benefitsrto�himrimmediately. `.I£�the apalication
for payment \ i . 7 A •. Y s x✓ ��4sy'.d ; 4.t ? tit;e,?' '; : °t r`;r;
is appr . , by �thelgAdministrator ,'•paymentshali b
.. r• 'a: gs`. :7-"a .! pr's.•.
effected as of thr. first day of: the r month next following such
h'alh�be' strictly to that
amount necessary to me t`,the` „emergency situation constituting
financial hards',ip.; I+ny remaining benefits :shall be paid '
; {4„'r`xS' <•x r f: ' ?:S`.?;�s'3•
P
a cordance witly,,F ragrap , yment . 6'benerii.
because igi:3'.1.`4M6 o `)07.,,r•I''';%")#
‘...1„
,:„.,,,N Ai" ' ' ii'
r s); f' u i
following: M' mp a ndinst S on alrnkulitcY;Vinexpe _C e a 't
4, :•'''' 73 '''' , . .?`"Vi -- 'V« 6/ .V*PS.`69,4A ... ',-: ,V;'.
nreimoursed major Penses.cresulting,fromoill.ness, accident , .
• ' ; '' ' :- kt it.$.4.',-4,a, d ' ea r-4■, f' t44 X 1 '" : ' , '' ': * ':' P ' `"?" ' i- . ''
"di. sability: of :th i':". r PARTIL:IPANTAtir%iirit4Seppndent:il,thereof; , ,major;), „l
• ..•;•:',,,,', • ..I :,,,,,,,,..1,,i-,,t4g gf,;..,:,1y,-.-,,,..r.o.,,p,,:::.!-,,,,,,;(-
,,„ orarOtibter 151eofaagpel,t,str,q,n4,itnreirn23gssed..4
1.
personal - expense ;:,ftilata.j naiure:Ethatfi7ould,irt.,,norrnally,b
- '' ' ' '' . ' "i`frfsfalitIlefi.q;V•,.5',reg,!4'',,■•'i,^?1,4:.A,
budgetable .'It:::: Foreseeable per,sonallexpendituFes4nor111ally.
- q....iW - • '''
dgetable;: dow paymentlfore home, the ,pur'ehase, ofa
,'irgwfcree ./.
automobile, col leg 'r..fl . , other educatiiinai,''e perises ,':. etc. r, will ,not
44W -1..
:v 'imi. ▪ „ .,
COnStittlte CZ; ' "unforesdea_ble ...erae deciIion of the
Administrator concernip emergency shall be final.
' - '■ie ,.'d , • ':.".-. .1,'..7 .•.'.;-,.',.: _ • • . •
,.' •V ... ' ' ' - 4 ;,....., . ., ... ..
■ ',. ” . •,,
*ARTICLE :VI
AdMiniatration Of Plantp„
, , 2 4, 41I - -7;i4V'i•V' t f.:VA 4
'-1 „;
• 6.01 The EMPLOYER :."may. at Eany. time amend, modify,
1,7, .-,-;•::: A ;!••;41;i1 ) :,,e ,. .".'.-,:v4 , , , ',' ' . •• • . ' ,.
terminate this Plan Ii.t.h the cons •of the. PART I C IPaliT -,
(or any beneficiary thereof) . provided:, ,,, ..,•*:;4' : ,', „2 ._1:
-•, 16e: '-4 '-• t-:Y., • - ,• , - F" • - , , ,, , ,
(a) That ' all ;amendments' shall , become•effective on thei.n:
first day of the siontli following of not less than for.ty
1 '' '';' , .' 1 ,-•;:' 4 ',.- , .•, ,t. izr
-4 , '... 4 - 1 . ip'", • -f,f-,V,.,( 4 1,7 , .',.. ','",- ' ' ," - '' ,'"•; ",_,,,-
•five (45) days prior notice,' of the amendment. Notice shall
• , •;,,,: .`
m th 4:Nit:A4-,:.•(*.i.,;4,r,4,,(_.:14"."..--:'
deemed given when' e',..tuiendm,„ .4 the
aqot
' ' 44'.... ' 1)1 " to - d ' ''. - the Admin--
-'
Administrator. To the e,o o . o, ...‘,,
,," ci „; i..,°3.••"1.4::,-2;44'...;•1 ,...,=`, ....:, - - - . .
istrator shall mail a" COlay okall',...alaeodmentethat effective
during the year to the ,3•Ap T C11 'ANTwith,tq i: - . annual rep ort. - No •'...,
. ..
.
".
amendments shall depriyeth, ofthe benefits to
• - ',....,..,..
which he is entitled: under this Plan with 'respect to de ferred -.1.!
,- -',:::' , n4V- ' •,„-- ,$,.,", -k , ' ,--,. ' -',
t1i011 . dtC h e g q •vxlri > C,', ; }t
d , <
nt s,credite is ccount pro to a effe ctive date ofa he- 4 e
u,,f v R4 ?kn. ." .... ...t ,?.:.e ..±,.V.s?+.,n b.r +.s.x•:w,d _r-m. . r.
n dment;;sand
`�), pp�(, the P,1a 4k3:„ ,;•• i ermed azi the'
$'; �'4'Vt' 5. �r': +, '' ),' .RnR�It inati 7y , r;'r;
<1 , a cceptance , ofsadditiona1 d r ed, amo unt 'us
d erma
;�
;;u: }�';;i•.��'k.,��i'�l'� i���4�`s���`' ", =•#�s � "' = � '�':�?'pis7oj;i�
y th& Administratoz°,,ggshall nonetheless ilie' 'esponsibl the
su
aryl io �� ' ;" :ic( i� Pex� ` Rt 3 .'[:i
P n ben resu ltin g ',`£rom' ^.amounts'
$ d eferred, e elf >, rio ■ 1 . .4; .+.�'as k ?•�+ ' -+d "l'.'•, • m� .t ;�t_�7l` -
r modification
`,
,to t amen ,
' ,.a., • �..•, '•: , ii1 P ,'' ' .; • . ty4.4 3".• i� rmination in
ac co . P t Artie' • ,S er, ec '? � t'
rdance Wi le V:h®reo
Nw1.�." ,; `.i•. r n �� •;f ■ _ .; ,4,� �'� " ' i � e'r'.'F. � �
i issue s ,;..
6.02 ; •
�Any companies t hat+may� �anyolicies,7,contracts j`
k °~ or other investment med ' 1 - frig 1 ir: ? °rg IF. ` • , z - . ,: +y` f., - ::
her inve ia.used by�theNEMPLOYER'or sp bli'th'e
• z �z%'':' 'clit=1; "�!;f ehr,,` °Ri'f,L j:'�w ,',7:f .t'":'•; n11 .. - A1:, ;, Z
PARTICIPANT, are _mot r partiesr'to,th3.s -Plan' and. su c fr ompanies.s n ail �
have # ;,. ' - *` ep `' :.: . ; °= '," ":,
no respo,,aih' ; -, . r; accountability,to the PARTICIPANT or his
beneficiary
ry wit's ° r of 7 "� ° ='`'• '
:nb C 3r,_, }` t",l itr plan.
6.03 Par.
z '•3k °` ';'.:�§ 4 '-::.;,• , =: �*• al .
�::1 in . s tn° ubl+ ,employee shall• "a
• not be construed tc ; a coilYract.ot the.PARTICI -
PANT or to alter or amend1anexietingemp1Oymeflt contract of the„TS
PARTICIPANT, nor-shall. participation be construed a sh.
affording to the PARTICIPANT . • anyreprese n tation;,'or .guarantee
n his r?•`ddr"x :x•r *: ^W: ' :. as
regarding continued empl ' x;�; ''���_+�.', , a •. � aia•,-,��
6.04. The EMPLOYER `anal th ; dmi A ns
" _ y, �e , u o aistrator.,do not represent or+
f :; ^ .' vf ,s' z e.,t,°£ '•- ...;4„ '" ° '"
guarantee that a - jst
ny �particularxFederal>or NSta 'income,,° payroll,'.`'
personal property, or ? other °' ta 'x • cons cguence,will, occur because o£ *
'','R j �,q�'a3 °:3k� �` ��"S�i:ti ;�it= . ":�: , +•j ='; �x; , t � •••.
the PARTICIPANT'S partic i nythis"Pl a n c * The t
'4?�' ; P i t ;, s� ,`., z,:a'i tY.• f , „ PARTI : — ,
should consult rxy
S ``y,.,,_ ;�
ult with his own representative g arding all questions;
of Federal or State income payro 1, ;.per} onal property ;, or othe r'R",'d'
tax ^onsequenccs arising from participation:in this Plan.
Unles8� nth e'. +°';" -: ;; >•� " r a ,, .:' !.
e ; proyisions of tie c•ntfa i r pec `:
different constiuctx3
;s 6 ' She' IaW oEiithe S k xs
• Stcte'of the ga l o'
determining the constructionandlva idityof th
ghts of- gcreditorseofthe`k
xe
beneficiary, and shall be em t•' roexec uion tiOn j tt achmet; " n pii r
PF Kro m,,attiio
assignment, or any other r .t: ;',;
Y judicial';>relie£ or;ordersfor the benefit
•
6.10 It is agreedAhae,
beneficiary nor ,. .any - other .d
6.09 The rights of the PARTICIPANT under thi's'Plan shall not
ubject to t ri
xs. PARTICIPANT ,OY a
G'an Fright to
¢nve tr�nerWlBe "
., u,..a�,.• y the t.
dzright thereto
are expressly declared to be nonassignibleand nontransferable.
6.11 This Plan, and any properly;4adopted 'i amendment`"'th
wr06°1�. '1-i,
shall Constitute 'agreement • •r =, a ,
the total " ;'oY�ciihtr"a c txbet wec n
*'.s4
EMPLOYER and the PARTICIPANT -th
ment regarding the Plan may be upon by,
commute, sell,•assign, transfe
receive-any
Y payments hereundereHl
•
6.12 This Plan and any properly adopt
t}tr,'k',y,++A jS�SY�4.1 f f ��- '4t ..•�}� -"° �' t,
:'j�y�f^7,., v y.. •` ''�9 Sir"(f�t��'',}�u• � yy� +y
• e�.t'�^",^oj,•�S?!r
adm nistrators traust es' s 'cce co s) and essi` ns and,•r onallt
Y ,vT1"=
competenti,.0 i ive e isdictio � su3t + i su h' ;fosni' y n d
; , they, consier ,
�' .N• .•e � .. .;. �.- .; •• fin �''- ;I�'�
appropriate for a dotorm neti'on oF' hebene£its e•,paid '
3 r " pR l ,i';4';,., aj 41„+'; 's: ^ r� + Grvc ,t,;�. N' i
2'b < "'•i h
.a, h ..�1 ;'. : +i,�•x��h.,�' ��e'�' 4 '•h �j +E'iiA .. Um•tl � j' -:
a nd:•t�k�• ersons�°to rt om The EMPLOYER" shat ."comply N�th�w
t1i�e t f naAP'its`a iIaiift4i1Arf 0 ' �...a 'S� " "p' l4.eM
b orders ofr+ y t ,t A RTI C
tha cour in pn such•�cuit.arid they7,.PaA.�xI AN „
�
;, etii',:;,'•af''i'.l•t'ri y? _�, r< 5� ?. 1 Si! 47 `- .0 ;t� ?Et
+;for' himself; - - and hi benefici ary 'consents to +be bound.<thereby. •
,. r:;a!s.`.t:r ''>> 1�{ :pfA, �2•'Ft1?. :. ° .. { , le r ,tb... d<'.' ,rT'�t'3: ?.
insofar affecti;ithe'+benefits payable�uadersthis`�Plan or'4the
t$w `•r . t ki. ^N 3i` 1§Ri `.'#� < e W� i , .,5pp„ a ' ' ' . ? t� •! k 4'-- °..wr ` .
625. P. t
, rj
methnd,or manner of payment °
'''''t y '• ':.. .,1'x,1 !R e. },:' ' n 1.� K • ' i { .L'.t�c� } r'.. , T
§3t�•; Yy'.•; S, EMPOYE n g .,;t.•;„ a m
7.`05 • ` . LR' and itsagents; �t including
F .the4 .�•"•
A dminis '' . ' ha.:n e s n ' ro a1r4 cvrt
�
trator are hereby�held� harmless` f 'a om� all +�e:caststends*
all claims }, , f d e l ri S ing y ` ny : act ' o : br •
.,for attorneys! � ^ � rought Pby,
s . . -1
Sy. v PARTICIPAN ;. d,St, -1 ` 'FY � . • v','�`sc._3,p ,5,;.., . A , ... . "
the
- r5
+o : a'3^, h lk:tt "• t � y h e re i s Iy: or •.: '
T or•• any beheficiary this :Plan o rKto 4 '�
nforce his rights under•th s yPlan', rincluding "any.,amendm
' - - 5 �` • � ' - E?.: - a5:'•. r •' „ ;
y, f s...✓ „I.
hereof. • . V' s a:# 7 k `5� st ^fir.• <,. 'iss•'t;a' .:.ih'r'
here p+ ):'i ar'''; 3 :e`t; ` < 'r`<.•:,
r 'H. • - 1. ,}�-:; 1 �iiF ;�'ulr *'�3.'Y -'�S. •�,: :. :. y ... is .,
r• .
7.06 The Admini_strator,shall not be'required to participat
: in any litigation concerning,.; the`P1an• written demand
v' from the EMPLOYER., The 4 Administ=atorcm a y�co mpromise, - adjustor
c t ?E; t 7'1>. -, is
....., .,, "?w � �,:.�.'.;” �;��:, %- ,.. • • ., , «.
affect settlement litigation, when'ispecifica1ly. instructed .to do,
sob the EMPLOYER. :,, tr x " ;h..�W::,• h {P.,s y.,p?I %za
IN WITNESS WNEREOP, :'the ° undersignedhas executed this P1an�
this ` 704, of A J rte. `.'F. • >a { "s = %..:.,`._t.
'participant
• PUBLIC EMPLOYEE, ,means; a including'
• elected�or ..appointedao5ficials receiving'any„ type
of compensation f om= thS G14. J N 0 R o t K y
1
of its' agencies `departxnents ;Tsubdivision or'r';
instrumentalities3 ;£or'whomaservices =are rendered,
. •. ,; * �}�^yi.:,i,��n:.i:
specifically xincluding ,.salaried,employees
ii:dependent contractors,; etc, °�'
3. ADDMINISTRATORmeans` the person, department, agency,
or organization appointed:by Employer to,admin -,
cltiding'salarias; } xfees`,'etc.
twelvemonth "period between
Y <,_,
:and each succeeding
the Administrator R.t a t
t .lsoentitled �Consen� ; t
NORMAL RETIREMENT;AGE means
co Chang
the, age,.it. which t
'Employ e. i s a t then
'Employee is el'igibie,,to 'retire suantt;tothe_
Employer's,- Retirement +System; by y
• . : , . : 2.: =1 ;},+a �^�. fir ' ,..id TY 2 %ray `s
•
3' Pita ;K. msof.
'length of service'-or%bo�.$v' instna.tabsenae',ofx'a
foi Empl�i }'e�"s�Retir r System, normal tet
ment' age shall`m in115:
INCLUDIBLE COMPENSATIo me purposes
• the limitations on ?3efersal, ompensation f orj2?
_ ,,.�
services perforthed_which`( ing °into - accoun
. ,.. _ _
i s ` b 0644 r q { i 0 aka
,• y ip, ' Iy�Y:.tf ss+'t- '�,9 ;5` ; - �,•;.,`
• amounts deferred,unde'r170 C. •of:1954& 45r an
403(b)) is currently .includible•int,gross..income