2016-002 - 457(b) Deferred Compensation Plan

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Eligible 457 Plan f. [ ] Describe Earnings allocation method: [Note: The Employer under Election 22f may describe Earnings allocation methods from the elections available under Election 22 and/or a combination thereof as to any: (i) Participant group (e.g., Daily applies to Division A Employees OR to Employees hired after "x" date. Balance forward applies to Division B Employees OR to Employees hired on / before "x" date.); (ii) Contribution Type (e.g., Daily applies as to Discretionary Nonelective Contribution Accounts. Participant- Directed Account applies to Fixed Nonelective Contribution Accounts); (iii) investment type, investment vendor or Account type (e.g., Balance forward applies to investments placed with vendorA and Participant - Directed Account applies to investments placed with vendor B OR Daily applies to Participant- Directed Accounts and balance forward applies to pooled Accounts).] 23. HEART ACT PROVISIONS (1.31(C)(3)/3.13). The Employer elects to (Choose one of a. orb. and c. or d.): Continued Benefit Accruals. a. [X] Not apply the benefit accrual provisions of Section 3.13. b. [ ] Apply the benefit accrual provisions of Section 3.13. Distributions for deemed severance of employment (1.31(C)(3)) C. [ ] The Plan does NOT permit distributions for deemed severance of employment d. [X] The Plan permits distributions for deemed severance of employment 24. VESTING /SUBSTANTIAL RISK OF FORFEITURE (5.11). A Participant's Deferral Contributions are [Note: If a Participant incurs a Severance from Employment before the specified events or conditions, the Plan will forfeit the Participant's non- vested Account. Caution: if a Deferral is subject to vesting schedule or other substantial risk of forfeiture, it does not count as a deferral for purposes of the annual deferral limit until the year it is fully vested.] (Choose all that apply of a. through d.): a. [X] 100% Vested/No Risk of Forfeiture. Immediately Vested without regard to additional Service and no Substantial Risk of Forfeiture. The following contributions are 100% Vested: 1. [X] All Contributions. (skip to 25.) 2. [ ] Only the following contributions. (select all that apply): a. [ ] Salary Reduction Contributions. b. [ ] Nonelective Contributions. C. [ ] Matching Contributions. b. [ ] Forfeiture under Vesting Schedule. Vested according to the following: Contributions affected. The following contributions are subject to the vesting schedule (Choose one or more of 1., 2. or 3.): 1. [ ] Salary Reduction Contributions. 2. [ ] Nonelective Contributions. 3. [ ] Matching Contributions. 4. [ ] Vesting Schedule. Years of Service Vested Percentage For vesting purposes, a "Year of Service" means: 5. [Note: It is extremely rare to apply a vesting schedule to Salary Reduction Contributions.] C. [ ] Substantial Risk of Forfeiture. Vested only when no longer subject to the following Substantial Risk of Forfeiture as follows: Contributions affected. The following contributions are subject to the substantial risk of forfeiture under c. (Choose one or more of 1., 2. or 3.): 1. [ ] Salary Reduction Contributions. 2. [ ] Nonelective Contributions. 0 2013 8 Security Financial Resources, Inc.