MassMutual 8/18/2017 - Laserfiche WebLink

some later specified age, but not greater than age 70 1/2. If a Participant continues employment after attaining age 70 1/2, not having previously elected an alternate Normal Retirement Age,the Participant's alternate Normal Retirement Age shall not be later than the mandatory retirement age, if any, established by the Employer, or any age at which the Participant actually has a Severance from Employment if the Employer has no mandatory retirement age. If the Participant will not become eligible to receive benefits under a basic defined benefit pension plan(or money purchase pension plan, if applicable)maintained by the Employer,the Participant's alternate Normal Retirement Age may not be earlier than age 65 and may not be later than age 70 1/2. In the event a Participant is a qualified police or firefighter(as defined under Code Section 415(b)(2)(H)(ii)(I))Normal Retirement Age means age 701/2,unless the Participant has elected an alternate Normal Retirement Age and delivered such election to the Administrator. Such date shall be no earlier than the earliest date that the Participant will become eligible to retire and receive, under the basic defined benefit pension plan of the Employer(or a money purchase plan in which the Participant also participates if the Participant is not eligible to participate in a defined benefit plan), immediate retirement benefits without actuarial or similar reduction because of retirement before some later specified age which may not be earlier than age 40 and may not be later than age 70 %2. A Participant's Normal Retirement Age must be the same as his or her normal retirement age under any other eligible deferred compensation plan or plans sponsored by the Employer. The designation of a Normal Retirement Age under the Plan does not compel retirement with the Employer. The "Participant" means an individual who is currently deferring Compensation, or who has previously deferred Compensation under the Plan by salary reduction and who has not received a distribution of his or her entire benefit under the Plan. Only individuals who perform services for the Employer as an Employee may defer Compensation under the Plan. "Plan Year" means the calendar year. "Severance from Employment"means the date that the Employee dies,retires,or otherwise has a severance from employment with the Employer, as determined by the Administrator(and taking into account guidance issued under the Code). Solely for the purpose of determining whether the Participant is entitled to receive a distribution of his or her Account Balance pursuant to Section 6.2, a Participant shall be treated as having incurred a severance from employment during any period the Participant is performing service in the uniformed services (as defined in chapter 43 of title 38,United States Code)while on active duty for a period of more than 30 days. The "State" means the State that is the Employer or of which the Employer is a political subdivision, and any agency, or instrumentality, including any agency or instrumentality of a political subdivision of the State, or the State in which the Employer is located. The "Trust Fund" means the trust fund created under and subject to a trust agreement or a custodial account or contract described in Code Section 401(f)held on behalf of the Plan. The "Valuation Date" means each business day. 4 GN- 107672 Specimen 457(b)Plan Document GPLANLVL—CORRSPND Deferred Compensation Plan Ver 102011