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25E - AGMT - EMPL BENEFITS
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25E - AGMT - EMPL BENEFITS
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8/31/2017 5:04:06 PM
Creation date
8/31/2017 4:28:08 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Police
Item #
25E
Date
9/5/2017
Destruction Year
2022
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® Tlicre is no Plan -defined limit on the percentage or dollar amount of earnings that may be contributed. <br />❑ %ofearnings' <br />'Dclinitionofearnings: ❑ Same as Section VLA.. ❑ Other <br />❑ <br />$ for the Plan year. <br />See Section V.B. fora discussion of nondiscrimination rules that may apply to roti-collcerivcly ba gained self-insured Plum. <br />VII. Vesting for Direct Employer Contributions <br />A. Vesting Schedule (check one box) <br />® Tlic account is 100% vested at all times. <br />❑ The following vesting schedule shall apply to Direct Employer Contributions as outlined in Section VI.B.1.: <br />Years ofScrvicc Vesting <br />Completed Percentage <br />ob <br />n� <br />ob <br />_oro <br />°/u <br />B. The account will become 100%vested upon the death, disability, retirement*, or attainment of benefit <br />eligibility (as outlined in Section IN by a Participant. <br />'Definition of retirement includes a separation from service eomponeut and is further defined by (check one): <br />❑ The primary retirement plan of rhe Employer <br />❑ Separarion from service <br />❑ Other <br />C. Any period of service by a Participant prior to a rehire of the Participant by the Employer shall trot count <br />toward the vesting schedule outlined in A above. <br />VIII. Forfeiture Provisions <br />Upon separation from the service of the Employer prior to attainment of benefit eligibility (as outlined in Section IX), or <br />upon reversion to the Trust of Participant's account assets remaining upon the participant's death (as outlined in Section <br />XI), a Participant's non -rested funds shall (check one box): <br />❑ Remain in the T ru.sr to be reallocated among all remaining Employees participating in the Plan as Direct Employer <br />Contributions for the next and succeeding eon[ributiou evcle(a). <br />1n Remain in the Trusr to be reallocated on an equal dollar basis among all Plan Participants. <br />❑ Remain in the Irusr to be reallocated among all Plan Participants based upon Parricipam account balances. <br />❑ Revert to the Eniplover. <br />,t <br />25E-101 <br />
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