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

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457 Plan and Trust Document 6.04 Paymeut of Benefits: The payment of benefits from the Trust in accordance with the terms of tbe Plan may be made by the Administrator, or by any custodian or otber petson so authorized by tbe Employer to make such disbUrsement. The Adminismitor, custodian or otber person shall not be liable witb respect to any distribution ofT rust assets made at tbe direction of tbe Employer. 6.05 Iuvestment Funds: In accordance witb uniform and nondiscriminatory rules established by tbe Employer and tbe Administrator, tbe Participant may direct his or her Accounts to be invested in one (1) or more investment funds available under tbe Plan; provided, however, tbat the Participant's investment directions shall not violate any investment restrictions established by the Employer. Neitber the Employer, the Administrator, nor any other person shall be liable for any losses incurred by virrue of following such directions or with any reasonable administrative delay in implementing such directions. 6.06 Valuation of Accounts: As of each Accounting Date, the Plan assets held in each investment fund offered shall be valued at fair market value and tbe investment income and gains or losses for each fund shall be determined. Such investment income and gains or losses shall be allocated proportionately among all Account balances on a fund-by-fund basis. The allocation shall be in the proportion that each such Account balance as of tbe immediately preceding Accounting Date bears to rhe total of all such Account balances as of that Accounting Date. For purposes of this Article, all Account balances include the Account balances of all Participants and Beneficiaries. 6.07 Participant Loan Accowits: Participant Loan Accounts shall be invested in accordance witb Section 8.03 of tbe Plan. Such Accounts shall not share in any investment income and gains or losses of the investment funds described in Sections 6.05 and 6.06. 6.08 Crediting of Accounts: The Participarit's Account shall reflect the amount and value of the investments or otber property obtained by the Employer through the investment of the PartiCipant's Deferred Compensation pursuant to Sections 6.05 and 6.06. It is anticipated rhat the Employer's investments witb respect to a Participant will conform to tbe investment preference specified in tbe Participant's Joinder Agreement, but norhing herein shall be construed to require tbe Employer to make any particular investment of a Participant's Deferred Compensation. Each Participant shall receive periodic reports, not less frequently tban annually, showing tbe tben current value of his or her Account. j 1 1 1 6.09 Post-Severance Transfers Among Eligible Deferred Compensation Plans: (a) Incoming Transfers: A transfer may be accepted from an eligible deferred compensation plan maintained by another employer and credited to a Participant's or Beneficiary's Account under the Plan if: (i) in tbe case of a transfer for a Participant, the Participant has had a Severance Event wirh tbat employer and become an Employee of the Employer; (ii) the otber employer's plan provides that such transfer will be made; and (iii) tbe Participant or Beneficiary whose deferred amounts are being transferred will have an amount immediately after tbe transfer at least equal to the deferred amount immediately before the transfer. The Employer may require such documentation from tbe predecessor plan as it deems necessary to effectuate tbe transfer in accordance 8 l _