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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
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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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JZ] There is no Plan -defined limit on the percentage or dollaramount of earnings that may be contributed. <br />❑ %of earnings` <br />'Definition of earnings: ❑ Same as Scction VI.A.. ❑ Other <br />❑ $ for the Plan year. <br />See Section V.B. for a discussion of nondiseriminarion rules dear may apply to non-eollectivdy bargained self-insured Plans. <br />VII. Vesting for Direct Employer Contributions <br />A. Vesting Schedule (check one box) <br />® The account is 100% vested at all times. <br />❑ The following vesting schedule shall apply to Direct Employer Contributions as outlined in Section VI.B.I <br />Years ofScrvicc Vesting <br />Completed Percentage <br />oo <br />_ -_g'o <br />B. The account will become 1000,o vested upon the death, disability, retirement', or attainment of benefit <br />eligibility (as outlined in Section IX) by a Participant. <br />'Definition of retirement includes a separation from service component and is further defined by (check one): <br />❑ The primary retirement plan of the Employer <br />❑ Separation from service <br />❑ Otter <br />C. Any period of service by a Participant prior to a rehire of the Participant by the Employer shall not 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 a Participant's account assets remaining upon the participants death (as outlined in Section <br />XI), a Parricipanrs non -rested funds shall (check one box): <br />❑ Remain in the Trust to be reallocated among all remaining Employees partieiparing in the Plan as Direct Employer <br />Contributions for the next and succeeding contribution cycle(s). <br />0 Remain in the Trust m be reallocated on an equal dollar basis among all Plan Participants. <br />❑ Remain in the Trust to be radlocated among all Plan Participants based upon Panicipant account balances. <br />❑ Revert to the Employer. <br />2E-81 <br />
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