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AgdaPkt 2011-10-24
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AgdaPkt 2011-10-24
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Last modified
10/25/2011 4:21:39 PM
Creation date
10/20/2011 1:24:27 PM
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Template:
CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Joint
Agency Type
City Council and Redevelopment Agency
Date
10/24/2011
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6.2.C. - Page 7 <br />p There is no Plan- defined limit on the percentage or dollar amount of earnings that may be contributed. <br />❑ % of earnings* <br />*Definition of earnings: ❑ Same as Section VIA.. ❑ Other <br />❑ $ for the Plan year. <br />See Section V.B. for a discussion of nondiscrimination rules that may apply to non - collectively bargained self- insured Plans. <br />VII. Vesting for Direct Employer Contributions <br />A. Vesting Schedule (check one box) <br />ff 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 of Service Vesting <br />Completed Percentage <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 />*Defini 'on of retirement (check one box): <br />Retirement as defined in the primary retirement plan of the Employer <br />❑ Separation from service <br />❑ Other <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 participant's death (as outlined in Section <br />XI), a Participant's 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 the next and succeeding contribution cyde(s). <br />[Remain 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 />
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