2016-002 - 457(b) Deferred Compensation Plan

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Eligible 457 Plan 3. [ ] Describe Application of Automatic Deferrals: C. [ ] EACA. The Plan will provide an Eligible Automatic Contribution Arrangement (EACA). Complete amendment. 16. MATCHING CONTRIBUTIONS (3.03). The Employer Matching Contributions is (Choose one or more of a. through d.): a. [ ] Fixed formula. An amount equal to of each Participant's Salary Reduction Contributions. b. [ ] Discretionary formula. An amount (or additional amount) equal to a matching percentage the Employer from time to time may deem advisable of each Participant's Salary Reduction Contributions. C. [ ] Tiered formula. The Employer will make matching contributions equal to a uniform percentage of each tier of each Participant's Salary Reduction Contributions, determined as follows: NOTE: Fill in only percentages or dollar amounts, but not both. If percentages are used, each tier represents the amount of the Participant's applicable contributions that equals the specified percentage of the Participant's Compensation (add additional tiers if necessary): Tiers of Contributions Matching Percentage (indicate $ or %) First Next % Next _ % Next % d. [ ] Specify: Time Period for Matching Contributions. The Employer will determine its Matching Contribution based on Salary Reduction Contributions made during each (Choose one of e. through h.): e. [ ] Plan Year. f. [ ] Plan Year quarter. g. [ ] Payroll period. h. [ ] Specify: Salary Reduction Contributions Taken into Account. In determining a Participant's Salary Reduction Contributions taken into account for the above - specified time period under the Matching Contribution formula, the following limitations apply (Choose one of i. through l.): i. [ ] All Salary Reduction Contributions. The Plan Administrator will take into account all Salary Reduction Contributions. j. [ ] Specific limitation. The Plan Administrator will disregard Salary Reduction Contributions exceeding % of the Participant's Compensation. k. [ ] Discretionary. The Plan Administrator will take into account the Salary Reduction Contributions as a percentage of the Participant's Compensation as the Employer determines. 1. [ ] Specify: Allocation Conditions. To receive an allocation of Matching Contributions, a Participant must satisfy the following allocation condition(s) (Choose one of m. or n.): M. ( ] No allocation conditions. n. [ ] Conditions. The following allocation conditions apply to Matching Contributions (Choose one or more of 1. through 4.): 1. [ ] Service condition. The Participant must complete the following number of months of Continuous Service during the Plan Year: 2. [ ] Employment condition. The Participant must be employed by the Employer on the last day of the Plan Year. 3. [ ] Limited Severance Exception. Any condition specified in 1. or 2. does not apply if the Participant incurs a Severance from Employment during the Plan Year on account of death, disability or attainment of Normal Retirement Age in the current Plan Year or in a prior Plan Year. 4. [ ] Specify: 02013 5 Security Financial Resources, Inc.