2011-02-23 CC Packet - Laserfiche WebLink

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457 Governmental Pian and Trust Eligible 457 Plan. A Rollover Contribution includes (2) Independent Contractor. An Independent net income, gain or loss attributable to the Rollover Contractor has a Severance from Employment when Contribution. A Rollover Contribution excludes the contract(s) under which the Independent , after-taac Employee contributions, as adjusted for net Contractor performs services for the Employer income, gain or loss. expires (or otherwise terminates), unless the Employer anticipates a renewal of the contractual 1.27 "Salary Reduction Contribution" means relationship or the Independent Contractor becoming a contribution the Employer makes to the Plan an Employee. The Employer anticipates renewal if it pursuant to a Participation Agreement. intends to contract for the services provided under the expired contract and neither the Employer nox the 1.28 "Service" means any period of time the Independent Contractor has eliminated the Employee is in the employ of the Employer. In the Independent Contractor as a potential provider of case of an Independent Contractor, Service means such sezvices under the new contract. Further, the any period of time the Independent Contractor Employer intends to contract for services conditioned ' performs services for the Empioyer on an only upon the Employer's need for the services ' independent contractor basis. An Employee or provided under the expired contract or the Independent Contractor terminates Service upon Employer's availability of funds. Notwithstanding incurring a Severance from Employment. the preceding provisions of this Section 1.28, the Administrative Services Provider will consider an (A) Qualified Military Service. Service includes Independent Contractor to have incurred a Severance any qualified military service the Plan must credit for from Employment: (a) if the Administrative Services contributions and benefits in order to satisfy the Provider or Trustee will not pay any Deferred crediting of Service requirements of Code §414(u). A Compensation to an Independent Contractor who is a Participant whose employment is interrupted by Participant before a date which is at least twelve qualified military service under Code §414(u) or who months a8er the expiration of the Independent is on a leave of absence for qualified military service Contractor's contract (or the last to expire of such under Code §414(u) may elect to make additional contracts) to render Services to the Employer; and (b) Salary Reduction Contributions upon resumption of if before the applicable twelve-month payment date, employment with the Employer equal to the the Independent Contractor performs Service as an maximum Deferral Contributions that the Participant Independent Contractor or as an Employee, the could have elected during that period if the Administrative Services Provider or Trustee will not ParticipanYs employment with the Employer had pay to the Independent Contractor his/her Deferred continued (at the same level of Compensation) Compensation on the applicable date. without the interruption of leave, reduced by the Defenal Contributions, if any, actually made for the (3) Uniformed Services. for purposes of Participant during the period of the interruption or distributions to an individual in the uniformed leave. This right applies for five years following the services, such individual will be treated as incurring a resumption of employment (or, if sooner, for a period Severance from Employment during any period the equal to three times the period of the interruption or individual is performing service in the uniformed leave). T'he Employer shall make appropriate make- services described in Code § 3401(h)(2)(A}. up Nonelective Contributions and Matching However, the plan will not distribute the benefit to Contributions for such a Participant as required under such an individual without that individual's consent, Code §414(u). The Plan shall apply limitations of so long as the individual is receiving differential ' Article III to all Deferral Contributions under this wage payments. paragraph with respect to the year to which the Deferral Contribution relates. If an individual elects to receive a distribution under this provision, the individual may not make an (B) "Continuous Service" means 5ervice with the elective deferral or employee contribution during the Employer during which the Employee does not incur 6-month period beginning on the date of the a Severance from Employment. distribution. � (C) "Severance from Employment." 1.29 "State" means (a) one of the 50 states of the United States or the District of Columbia, or (b) a (1) Employee. An Employee has a Severance political subdivision of a State, or any agency or from Employment when the Employee ceases to be instrumentality of a 5tate or its political subdivision. an Employee of the Employer. A Participant does A State does not include the federal govemment or not incur a Severance from Employment if, in any agency or instrumentality thereof. connection with a change in employment, the Participant's new employer continues or assumes 1.30 "Taxable Year" means the calendar year sponsorship of the Plan or accepts a Transfer of Plan or other taacable year of a Participant. assets as to the Participant. O Copyright 2010 SunGard i(10 3 � � 12