Laserfiche WebLink
(a) Payments that, absent a Severance from Employment, would have been paid to the <br /> Participant while the Participant continued in employment with the Employer, but only if <br /> such payments constitute regular compensation for services during the Participant's regular <br /> working hours, compensation for services outside the Participant's regular working hours <br /> (such as overtime or a shift differential), commissions, bonuses or other similar <br /> compensation. <br /> (b) Payments for accrued bona fide sick, vacation or other leave, but only if the Participant <br /> would have been able to use the leave if employment had continued. <br /> Any payment that is not described above shall not be considered Compensation if it is paid after <br /> the date of the Participant's Severance from Employment, even if it is paid within 21/2 months of <br /> such date. Thus, for example, Compensation does not include severance pay. <br /> For years beginning after December 31, 2008, (a) a Participant receiving a differential wage <br /> payment, as defined by Code §34O1(h)(2),by reason of qualified military service (within the <br /> meaning of Code Section 414(u)),is treated as an Employee of the Employer making the payment <br /> and(b)the differential wage payment is treated as Compensation. <br /> An"Employee" means each natural person who is employed by the Employer as a common law <br /> employee on a full time basis or on a part-time basis and any employee in an elected or appointed <br /> position; provided,however,that the term Employee shall not include a leased employee or any <br /> employee who is included in a unit of employees covered by a collective bargaining agreement <br /> that does not specifically provide for participation in the Plan. <br /> Any individual who is not treated by the Employer as a common law employee of the Employer <br /> shall be excluded from Plan participation even if a court or administrative agency determines that <br /> such individual is a common law employee of the Employer,unless the Employer has included the <br /> individual in Plan participation as an independent contractor. <br /> An"Employer"means the eligible employer(within the meaning of Code Section 457(e)(1))that <br /> has adopted the Plan. In the case of an eligible employer that is an agency or instrumentality of a <br /> political subdivision of a State within the meaning of Code Section 457(e)(1)(A),the term <br /> Employer shall include any other agency or instrumentality of the same political subdivision that <br /> has adopted the Plan. <br /> "Includible Compensation" means, with respect to a taxable year,the Participant's <br /> compensation as defined in Code Section 415(c)(3) and the regulations thereunder, for services <br /> performed for the Employer. The amount of Includible Compensation is determined without <br /> regard to any community property laws. <br /> "Normal Retirement Age" means age 70 1/2, unless the Participant has elected an alternate <br /> Normal Retirement Age and delivered such election to the Administrator. Such date shall be no <br /> earlier than the earliest date that the Participant will become eligible to retire and receive,under the <br /> basic defined benefit pension plan of the Employer(or a money purchase plan in which the <br /> Participant also participates if the Participant is not eligible to participate in a defined benefit plan) <br /> immediate retirement benefits without actuarial or similar reduction because of retirement before <br /> 3 <br /> GN-107672 Specimen 457(b)Plan Document <br /> GPLANLVL—CORRSPND Deferred Compensation Plan <br /> Ver 102011 <br />