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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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® There is no Plan -defined limit on the percentage or dollaramounr of earnings chat may be contributed. <br />❑ % of eamings' <br />'Definition ofearnings: ❑ Same as Section VLA.. ❑ Other <br />❑ $ For the Plan year. <br />See Section V.B. for a discussion of nondiscrimination rules chat may apply to non-colluctively bargained self insured Plan,. <br />VI I. 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 m Direcr Employer Contributions as outlined in Section VLB. L: <br />Years of Service Vesting <br />Completed Percentage <br />o/O <br />_% <br />_aa <br />% <br />°h <br />_% <br />_/a <br />B. The account will become 100% vested upon cite death, disability, retirement', or attainment of benefit <br />eligibility (as outlined in Section IX) by a Participant. <br />'Definition of rerin:menc includes a separation from service component and is further defined by (check one): <br />® The primary recirentcnt plan of die Employer <br />❑ Sepa scion from service <br />❑ Othcr <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 sepacation from rhe service of rhe Employer prior to attainment of benefit eligibility (as outlined in Section (X), or <br />upon reversion to the Trust of a Parricipues account assets remaining upon die participant's dealt (as outlined ill Section <br />XI), a Participant's non-veued funds shalt (check one box): <br />❑ Remain in the Trust to be reallocated among all renuining Employees participating in rhe Plan as Direct Employer <br />Contributions for cite next and succeeding enncriburian cycie(s). <br />[✓J Remain in rite Trust m be reallocated on an equal dollar basis among all Plan Participants. <br />❑ Remain in the Trust to be reallocated aniong:dl Plan Participants based upon Parricipattraceaunt balances. <br />❑ Revert to the Employer. <br />25E-94 <br />
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