2016-002 - 457(b) Deferred Compensation Plan

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Eligible 457 Plan 2. [ ] Service. Service requirement (Choose one of a. orb.): a. [ ] Year of Service. One year of Continuous Service. Months of Service. month(s) of Continuous Service. 3. [ ] Specify: 12. PLAN ENTRY DATE (1.24). "Plan Entry Date" means the Effective Date and (Choose one of a. through d.): a. [X] Monthly. The first day of the month coinciding with or next following the Employee's satisfaction of the Plan's eligibility conditions. b. [ ] Annual. The first day of the Plan Year coinciding with or next following the Employee's satisfaction of the Plan's eligibility conditions. C. [ ] Date of hire. The Employee's employment commencement date with the Employer. d. [ ] Specify: 13. SALARY REDUCTION CONTRIBUTIONS (1.30). A Participant's Salary Reduction Contributions under Election 5b. are subject to the following limitation(s) in addition to those imposed by the Code (Choose one of a. orb.): a. [X] No limitations. b. [ ] Limitations. (Choose one or more of 1., 2. or 3. ): L [ ] 2. [ ] Maximum deferral amount. A Participant's Salary Reductions may not exceed: dollar amount or percentage of Compensation). Minimum deferral amount. A Participant's Salary Reductions may not be less than: dollar amount or percentage of Compensation). (specify (specify 3. [ ] Specify: [Note: Any limitation the Employer elects in b.1. through b.3. will apply on a payroll basis unless the Employer otherwise specifies in b.3.1 Special NRA Catch -Up Contributions (3.05). The Plan (Choose one of c. or d.): C. [X] Permits. Participants may make NRA catch -up contributions. AND, Special NRA Catch -Up Contributions (Choose one of 1. or 2.): 1. [X] will be taken into account in applying any matching contribution under the Plan. 2. [ ] will not be taken into account in applying any matching contribution under the Plan. d. [ ] Does not permit. Participants may not make NRA catch -up contributions. Age 50 Catch -Up Contributions (3.06). The Plan (Choose one of e. or f. ): e. [X] Permits. Participants may make age 50 catch -up contributions. f. [ ] Does not permit. Participants may not make age 50 catch -up contributions. 14. SICK. VACATION AND BACK PAY (3.02(A)). The Plan (Choose one of a. orb.): a. [ ] Permits. Participants may make Salary Reduction Contributions from accumulated sick pay, from accumulated vacation pay or from back pay. b. [X] Does Not Permit. Participants may not make Salary Reduction Contributions from accumulated sick pay, from accumulated vacation pay or from back pay. 15. AUTOMATIC ENROLLMENT (3.02(B)). Does the Plan provide for automatic enrollment (Choose one of the following) [Note: if Eligible Automatic Contribution Arrangement (EACA), select 15c and complete AMENDMENT FOR ELIGIBLE AUTOMATIC CONTRIBUTION ARRANGEMENT (EACH)): a. [X] Does not apply. Does not apply the Plan's automatic enrollment provisions. b. [ ] 1. 2. 02013 Applies. Applies the Plan's automatic enrollment provisions. The Employer as a Pre -Tax Elective Deferral will withhold % from each Participant's Compensation unless the Participant elects a different percentage (including zero) under his/her Salary Reduction Agreement. The automatic election will apply to (Choose one of 1. through 3.): [ ] All Participants. All Participants who as of are not making Pre -Tax Elective Deferrals at least equal to the automatic amount. [ ] New Participants. Each Employee whose Plan Entry Date is on or following: 4 Security Financial Resources, Inc.