Agmt04 Separation incentive SIP - Laserfiche WebLink

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(f) The limitation in Section A.2( a) is deemed satisfied if the Annual Benefit payable to a Member is not more than $1,000 multiplied by the Member's number of years of service or parts thereof (not to exceed ten) with the Employer, and the Employer has not at any time maintained a defined contribution plan, a welfare benefit plan as defined in Section 419( e) of the Code, or an individual medical account as defined in Section 415(1)(2) of the Code in which such Member participated. (g) If the Employer maintains, or has ever maintained, one or more defined contribution plans covering an Employee who is also a Member in this Plan, a welfare benefit fund as defined in Section 419( e) of the Code, or an individual medical account as defined in Section 415(1 )(2) of the Code, the sum of the Defined Contribution Plan Fraction and the Defined Benefit Plan Fraction, cannot exceed 1.0 for any Limitation Year commencing before January 1,2000. For the purpose of this Section A.2(g), Employee contributions to a qualified defined benefit plan are treated as a separate defined contribution plan. In addition, all defined contribution plans of the Employer are to be treated as one defined contribution plan and all defined benefit plans of the Employer are to be treated as one defined benefit plan, whether or not such plans have been terminated. If the sum of the Defined Contribution Plan Fraction and the Defined Benefit Plan Fraction exceeds 1.0, the sum of the fractions will be reduced to 1.0 as follows: (i) voluntary nondeductible Employee contributions made by a Member to this Plan which constitute an Annual Addition to a defined contribution plan, to the extent they would reduce the sum of the fractions to 1.0, will be returned to the Member; (ii) if additional reductions are required for the sum of the fractions to equal 1.0, voluntary nondeductible Employee contributions made by a A-8 NB 1 :508358.9 .",,", ._~ .._", ~..