2016-002 - 457(b) Deferred Compensation Plan

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Eligible 457 Plan Contributions. The Employer and /or Participants, in accordance with the Plan terms, make the following Contribution Types to the Plan (Choose one or more of b. through d. if applicable): b. [X] Pre -Tax Elective Deferrals. The dollar or percentage amount by which each Participant has elected to reduce his /her Compensation, as provided in the Participant's Salary Reduction Agreement (Choose one or more as applicable.): And will Matching Contributions be made with respect to Elective Deferrals? 1. [ ] Yes. See Question 16. 2. [X] No. And will Roth Elective Deferrals be made? 3. [ ] Yes. [Note: The Employer may not limit Deferrals to Roth Deferrals only.] 4. [X] No. C. [ ] Nonelective Contributions. See Question 17. d. [X] Rollover Contributions. See Question 30. 6. EXCLUDED EMPLOYEE (1.10). The following Employees are Excluded Employees and are not eligible to participate in the Plan (Choose one of a. or b.): a. [X] No exclusions. All Employees are eligible to participate. b. [ ] Exclusions. The following Employees are Excluded Employees (Choose one or more of 1. through 4.): Part -time Employees. The Plan defines part -time Employees as Employees who normally work less than hours per week. 2. [ ] Hourly -paid Employees. 3. [ ] Leased Employees. The Plan excludes Leased Employees. 4. [ ] Specify: 7. INDEPENDENT CONTRACTOR (1.16). The Plan (Choose one of a., b. or c.): a. [ ] Participate. Permits Independent Contractors to participate in the Plan. b. [X] Not Participate. Does not permit Independent Contractors to participate in the Plan. C. [ ] Specified Independent Contractors. Permits the following specified Independent Contractors to participate: [Note: If the Employer elects to permit any or all Independent Contractors to participate in the Plan, the term Employee as used in the Plan includes such participating Independent Contractors.] 8. COMPENSATION (1.05). Subject to the following elections, Compensation for purposes of allocation of Deferral Contributions means: Base Definition (Choose one of a., b. or c.): a. [X] Wages, tips and other compensation on Form W -2. b. [ ] Code §3401(a) wages (wages for withholding purposes). C. [ ] 415 safe harbor compensation. [Note: The Plan provides that the base definition of Compensation includes amounts that are not included in income due to Code § §401(k), 125,132(f)(4), 403(b), SEP, 414(h)(2), & 457. Compensation for an Independent Contractor means the amounts the Employer pays to the Independent Contractor for services, except as the Employer otherwise specifies below.] Modifications to Compensation definition. The Employer elects to modify the Compensation definition as follows (Choose one of d. or e.): d. [X] e. [ ] 1. 2. 3. © 2013 No modifications. The Plan makes no modifications to the definition. Modifications (Choose one or more of 1. through 5.): [ ] Fringe benefits. The Plan excludes all reimbursements or other expense allowances, fringe benefits (cash and noncash), moving expenses, deferred compensation and welfare benefits. [ ] Elective Contributions. [1.05(E)] The Plan excludes a Participant's Elective Contributions. [ ] Bonuses. The Plan excludes bonuses. 2 Security Financial Resources, Inc.