Laserfiche WebLink
a <br /> of the Employer' s participating Employees will continue to be <br /> held in the Fund and will be distributed in accordance with the <br /> terms of the Plan, except to the extent of any elective <br /> transfers from the Plan pursuant to Section 7 . 2 . <br /> ARTICLE 3 - EMPLOYEE PARTICIPATION <br /> 3 . 1 Eligibility: Except as provided in section 21420 <br /> of the Government Code, all Employees of an Employer shall be <br /> eligible to participate in the Plan. <br /> 3 . 2 Initial Enrollment : In order to become a <br /> Participant, an Employee must enter into a Deferral Agreement, <br /> which shall become effective no earlier than the calendar month <br /> following the month in which the agreement is made . A Deferral <br /> Agreement will be given effect only if the Deferral amount <br /> elected therein satisfies whatever minicmurnz, the Board may <br /> establish, and the Employee provides all information called for <br /> on the agreement form. <br /> 3 . 3 Effect of Deferral Agreement : Commencing with the <br /> effective date of an Employee ' s Deferral Agreement, his or her <br /> gross salary or wages shall be reduced by the Deferral amount <br /> specified in the Deferral Agreement . Deferrals shall continue to <br /> be made in such amount unless and until the Deferral Agreement is <br /> amended or the Employee has a Separation from Service with the <br /> Employer. ,Subject to the limitations of Article IV, Deferrals <br /> shall not be subject to Federal or California income tax <br /> withholding and shall not be reported as gross income on the <br /> Employee ' s annual wage statement (Form W-2) . However, Deferrals <br /> shall be subject to FICA taxation when earned. <br /> 3 . 4 Amendment of Deferral Aqreement : A Participant <br /> may amend or revoke his or her Deferral agreement at any time, <br />