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25E - AGMT - EMPL BENEFITS
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25E - AGMT - EMPL BENEFITS
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Last modified
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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® There is no Plan -defined limit on die percenragc or dollar amount of earnings that may be contributed. <br />❑ % of earnings* <br />*Definition of earnings: ❑ Same as Section VIA. ❑ Other <br />❑ S for the Plan year. <br />See Section V.B, for a discussion of nondiscrimination rules that may apply to non-eollectively bargaitudself-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 oudined in Section VI.FI.I.: <br />Years of Service Vesting <br />Completed Percentage <br />% <br />0% <br />B. The account will become 100% 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 />❑ Other <br />C. ,Any period of sctvice bra Participant prior to a rehire of the Pnrticipant by the Employer shall not count <br />toward the vesting schedule outlined in Aabove. <br />VIII. Forfeiture Provisions <br />Upon separation from theservice of the Employer prior to attainment of benefit eligibility (as outlined in Section IX), or <br />upon reversion to the Trust of a Participants account assets remaining upon the participants death (as outlined in Section <br />XI), a Participants non -vested funds shall (check one box): <br />❑, Remain in the Trust to be reallocated among all remaining Employees participating in the Plan as Direct Employer <br />Contributions for tine next and succeeding contribution cycle(s). <br />❑ Rcmain in the Trust to be reallocated on an equal dollar basis among all Plan participants. <br />❑ Remain in the Trust to be reallocated among all Plan Participants based upon Participant account balances. <br />❑ Revert to the Employer. <br />v <br />_..,2SE=$$ .. _. . <br />
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