2004-08-25 WS & CC Meeting - Laserfiche WebLink

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457 Plan and Trust Document the estate of the Participant shall be the Beneficiary. If a married Participant resides in a community or marital property st'l-te, the Participant shall be responsible for obtaining appropriate consent of his or her spouse in the event the Participant designates someone other than his or her Spouse as Beneficiary. The preceding sentence shall not apply with respect to a Deemed IRA under Article IX. 2.06 Deemed IRA: A separate account or annuity established under the Plan that complies with the requirements of Section 408(q) of the Code and any regulations promulgated thereunder. 2.07 Deferred Compensation: The amount ofIncludible Compensation otherwise payable to the Participant which the Participant and the Employer mutually agree to defer hereUnder, any amount credited to a Participant's Account by reason of a transfer under Section 6.09 or 6.10, a rollover under Section 6.11, or any other amount which the Employer agrees to credit to a Participanr's Account. 2.08 Dollar Limitation: The applicable dollar amount within the meaning of Section 457(b)(2)(A) of the Code, as adjusted for the cost-of-living in accordance with Section 457(e)(15) of the Code. 2.09 Employee: Any individual who provides services for rhe Employer, whether as an employee of the Employer or as an independent contractor, and who has been designated by the Employer as eligible to participate in the Plan. 2.10 Employer: ,which is a political subdivision, agency or instrUmentality of the [State/Commonwealth] of , described in Section 457(e)(1) (A) of the Code. 2,11 457 Carch-Up Dollar Limitation: Twice the Dollar Limitation. -:; .~. ~ i . < , '.,~, .. 2,12 Includible Compensation: Includible Compensation of a Participant means the "Participant's compensation," as defined in Section 415(c)(3) of the Code, for services performed for the Employer. Includible Compensation shall be determined without regard to any community property laws. Includible Compensation shall include any pre-tax contributions to an integral part trust of the employer providing retiree health care benefits. I :1 2.13 Joinder Agreement: An agreement entered into between an Employee and the Employer, including any amendments or modifications thereof. Such agreement shall fIX the amount of Deferred Compensation, specifY a preference among the investment alternatives designated by the Employer, designate the Employee's Beneficiary or Beneficiaries, and incorporate the terms, conditions, and provisions of the Plan by reference. 2.14 Normal Limitation: The maximum amount of Deferred Compensation for any Participant for any taxable year (other than amounts referred to in Sections 6.09, 6.10, and 6.11). ..~ 2.15 Normal Retirement Age: Age 70-112, unless the Participant has elected an alternate N orrnal Retirement Age by written instrument delivered to the Administrator prior to a Severance Event. A Participant's Normal Retirement Age determines the period during 2