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HomeMy WebLinkAboutAUL 457 Plan ABOUT YOUR PLAN RESTATEMENT CITY OF JEFFERSONVILLE DCP PROGRAM G74374 October 29, 2012 By restating the Plan based on your request, American United Life Insurance Company (AUL) assumes that the Plan satisfies the requirements of Internal Revenue Code Section 457(b) in form and operation. AUL did not review the Plan for compliance. In addition, you have the ultimate responsibility for the Plan satisfying the requirements of Section 457(b). IT IS VERY IMPORTANT THAT YOU REVIEW THIS PLAN CAREFULLY WITH YOUR LEGAL COUNSEL TO ENSURE IT PROPERLY REFLECTS THE PROVISIONS OF YOUR CURRENT PLAN. If you determine changes to the Adoption Agreement are necessary, clearly indicate the changes on the Adoption Agreement and return it to AUL. IMPORTANT: If changes are to be made, DO NOT SIGN the Adoption Agreement and amendments. When AUL receives the Adoption Agreement, the requested changes will be made and revised documents will be provided to you for your signature. The Adoption Agreement provides that the Plan's effective date is August 1, 2000. The plan has been restated in its entirety effective January 1, 2013. ➢ The following items were included in your Plan: • The Employer name is City of Jeffersonville. • The name of the Plan is City of Jeffersonville DCP Program. • The Type of 457 Plan is a Governmental Eligible 457(b) Plan. • Part-time Employees and Leased Employees are excluded. Part-time Employees are Employees who normally work less than 30 per week. • Independent Contractors are not permitted to participate in the Plan. • Compensation means W -2 wages, excluding elective deferrals, reimbursements or other expense allowances, fringe benefits (cash and noncash), moving expenses, deferred compensation and welfare benefits, bonuses and overtime. • The Plan Year is the calendar year. The Plan Year means the 12- consecutive month period ending every December 31st. • Normal Retirement Age is attainment of age 65. For police and firefighters, Normal Retirement Age is any age between the ages of 50 and 65, as designated by the Participant. A participant's normal retirement age is significant with respect to the normal \/•71.— retirement age catch -up contribution described in Section 3.05 of the Basic Plan AUL a oNPAMERICA financial partner Page 1 of 3 Document (BPD). For one or more of the participant's last three taxable years ending before a participant attains normal retirement age, the participant may make certain additional salary reduction contributions. • There are no eligibility conditions. The Plan Entry Date is the hire date. • Participants may defer up to the IRS maximum deferral limit. The maximum deferral limit for 2012 is the lesser of $17,000 or 100% of eligible compensation. All contributions under the Plan are included when applying the limit. • Age 50 Catch -up Contributions are allowed. • Participants are permitted to make salary reduction contributions from accumulated sick pay, accumulated vacation pay or back pay. • Automatic enrollment provision is not included. • Distributions are allowed as soon as administratively practicable following the Participant's Severance from Employment. • Distributions are allowed in the form of a single lump sum payment, installments and any annuity option available under the group annuity contract. • Mandatory cashouts apply for amounts less than $5,000. The restated Adoption Agreement provides that Rollover Contributions are included when determining the $5,000 threshold. • Roth deferral contributions are not included. You may request an amendment from your Plan Services Consultant to add Roth to the Plan at any time. • Participants or Beneficiaries subject to Required Minimum Distributions may elect to apply either the five -year rule or the life expectancy rule for distributions following the death of the Participant. • In- service distributions are allowed upon the occurrence of an unforeseeable emergency and from rollover contributions. • QDRO provisions apply. • All contributions are 100% vested. • The Deferred Compensation will be held in one or more annuity contracts. > A PPA amendment was not included with your documents. Therefore, a PPA amendment has been completed using AUL's defaults. If changes are to be made, DO NOT SIGN the amendment. Contact your Plan Services Consultant for any revisions. If there are NO changes, sign and date the amendment. \•---- 1.7..... AUL a ONEAMERICA' financial partner Page 2 of 3 ➢ A HEART /WRERA amendment was not included with your current documents. Therefore, a HEART /WRERA amendment has been completed using AUL's defaults. If changes are to be made, DO NOT SIGN the amendment. Contact your Plan Services Consultant for any revisions. If there are NO changes, sign and date the amendment. ➢ A separate Loan Procedure will be sent to you as elected on the Governmental 457(b) Worksheet. If you have any questions on the loan procedures or if changes need to be made, DO NOT SIGN the Loan Procedure. Contact your Plan Services Consultant for any revisions. If there are NO changes, sign and date the Loan Procedure upon receipt. ➢ Please review the BPD to familiarize yourself with the provisions. Several key provisions are highlighted below. • Section 4.02: The HEART /WRERA Amendment updates this section of the BPD. A Participant may elect the time and method of payment prior to the date the Plan Administrator or Trustee would first commence payment. • Section 4.06: The BPD contains rules for administering Qualified Domestic Relations Orders (QDRO's). • Section 4.07(D): The BPD contains rules regarding the automatic rollover of mandatory distributions. If a terminated participant with a small balance (under $5,000) does not elect a distribution, the Plan will automatically distribute the participant's balance. If the automatic distribution is greater than $1,000, the Plan will rollover the distribution to an IRA set up for the participant. Amounts of $1,000 or less will be distributed directly to the participant, less any required tax withholding. • Section 6.01: A divorce decree or legal separation revokes the Participant's designation of the spouse as beneficiary unless the decree or a QDRO provides otherwise. • Section 6.02: If the Participant fails to designate a beneficiary, the death benefit will be paid in the following order of priority: first to the surviving spouse, if any; second to the children by right of representation (one share for each surviving child and one share for each child who predeceases the participant with surviving descendents); and third to the estate. • Section 6.03(D): Any modifications to a salary reduction agreement will become effective no earlier than the beginning of the calendar month commencing after the date the participant executes the new salary reduction agreement. AUL a oNEAM &RICA financial partner Page 3 of 3 CITY OF JEFFERSONVILLE DCP PROGRAM ELIGIBLE 457 PROTOTYPE PLAN SALARY REDUCTION CONTRIBUTIONS ADOPTION AGREEMENT Eligible 457 Prototype Plan Salary Reduction Contributions Adoption Agreement ELIGIBLE 457 PROTOTYPE PLAN SALARY REDUCTION CONTRIBUTIONS ADOPTION AGREEMENT The undersigned, City of Jeffersonville ( "Employer "), by executing this Adoption Agreement, elects to become a participating Employer in the American United Life Insurance Company Eligible 457 Prototype Plan ( "Plan "). The Plan consists of this Adoption Agreement and the accompanying basic plan document. The Employer makes the following elections granted under the provisions of the Plan. ARTICLE I DEFINITIONS PLAN (1.21). The name of the Plan as adopted by the Employer is City of Jeffersonville DCP Program. TYPE OF 457 PLAN (1.36). The Type of 457 Plan is a (Choose one of (a) or (b).): [X] (a) Governmental Eligible 457 Plan. Plan Section 1.36(A)] [ ] (b) Tax - Exempt Organization Eligible 457 Plan. [Plan Section 1.36(B)] [Note: A Tax - Exempt Organization must restrict the Plan to a select group of management or highly compensated employees.] EMPLOYEE (1.09). The following are Excluded Employees and are not eligible to participate in the Plan (Choose (a) or choose one or more of (b) through (f) as applicable): [ ] (a) No exclusions. [X] (b) Part - time Employees. The Plan defines part-time Employees as Employees who normally work less than 30 hours per week. [ ] (c) Hourly - paid Employees. [ ] (d) All Employees except top - hat group. All Employees are Excluded Employees except those Employees who the Employer determines are in a select group of management or highly compensated employees as would constitute a "top -hat" group within the meaning of Title I of ERISA. [X] (e) Leased Employees. The Plan excludes Leased Employees. [ ] (f) (Specify) [Note: A Tax- Exempt Organization must elect (d) or in (f) must specify top -hat group Participants by name, title or otherwise.] INDEPENDENT CONTRACTOR (1.15). The Plan (Choose one of (a), (b) or (c)): [ ] (a) Participate. Permits Independent Contractors to participate in the Plan. [X] (b) Not participate. Does not permit Independent Contractors to participate in the Plan. [ ] (c) Specified Independent Contractors. Permits the following specified Independent Contractors to participate: © Copyright 2005 SunGard Corbel 2/05 1 Eligible 457 Prototype Plan Salary Reduction Contributions Adoption Agreement [Note: If the Employer elects to permit any or all Independent Contractors to participate in the Plan, the term Employee as used in the Plan includes such participating Independent Contractors.] COMPENSATION (1.05). Subject to the following elections, Compensation for purposes of allocation of Salary Reduction Contributions means W -2 wages (including Elective Contributions). Compensation for an Independent Contractor means the amounts the Employer pays to the Independent Contractor for services, except as the Employer otherwise specifies below. Modifications to Compensation definition. The Employer elects to modify the Compensation definition as follows. (Choose (a) or choose one or more of (b) through 09 as applicable): [ ] (a) No modifications. The Plan makes no modifications to the definition. [X] (b) Fringe benefits. The Plan excludes all reimbursements or other expense allowances, fringe benefits (cash and noncash), moving expenses, deferred compensation and welfare benefits. [X] (c) Elective Contributions. [Plan Section 1.05(C)] The Plan excludes a Participant's Elective Contributions. [X] (d) Bonuses. The Plan excludes bonuses. [X] (e) Overtime. The Plan excludes overtime. [ ] (f) (Specify) PLAN YEAR (1.24). Plan Year means the 12- consecutive month period (except for a short Plan Year) ending every (Choose one of (a) or (b). Choose (c) as applicable): [X] (a) December 31. [ ] (b) Other: [ ] (c) Short Plan Year: commencing on: and ending on: EFFECTIVE DATE (1.08). (Choose one of (a) or (b). Choose (c) as applicable): [ ] (a) New Plan. The Effective Date of the Plan is [X] (b) Restated Plan. The restated Effective Date is January 1, 2013 .This Plan is a substitution and amendment of an existing 457 plan originally established effective as of August 1, 2000 [ ] (c) Special Effective Dates. The following special Effective Dates apply: © Copyright 2005 SunGard Corbel 2/05 2 Eligible 457 Prototype Plan Salary Reduction Contributions Adoption Agreement NORMAL RETIREMENT AGE (1.19). A Participant attains Normal Retirement Age under the Plan (Choose one of (a) or (b). Choose (c) as applicable) : [X] (a) Plan designation. [Plan Section 3.05(B)] When the Participant attains age 65 . [ ] (b) Participant designation. [Plan Section 3.05(B) and (B)(1)] When the Participant attains the age the Participant designates, which may not be earlier than age and may not be later than age (no later than 70'/2). [X] (c) Police /firefighters. [Plan Section 3.05(B)(3)] (Choose one of (1) or (2)): [ ] (1) Plan designation. When the Participant attains age . [X] (2) Participant designation. When the Participant attains the age the Participant designates, which may not be earlier than age 50 (no earlier than age 40) and may not be later than age 65 (no later than 70'/2). ARTICLE II EMPLOYEE PARTICIPANTS 2.01 ELIGIBILITY. Eligibility Conditions. To become a Participant in the Plan, an Employee must satisfy the following eligibility condition(s) (Choose (a) or choose one or more of (b) through (d) as applicable): [X] (a) No eligibility conditions. The Employee is eligible to participate in the Plan as of his /her first day of employment with the Employer. [ ] (b) Age. Attainment of age . [ ] (c) Service. Service requirement (Choose one of (1) or (2)): 1 1 (1) Year of Service. One year of Continuous Service. [ ] (2) Month(s) of Service. months of Continuous Service. [ ] (d) (Specify) Plan Entry Date. "Plan Entry Date" means the Effective Date and (Choose one of (e) through (h)): 1 1 (e) Monthly. The first day of the month coinciding with or next following the Employee's satisfaction of the Plan's eligibility conditions. 1 1 (f) Annual. The first day of the Plan Year coinciding with or next following the Employee's satisfaction of the Plan's eligibility conditions. [X] (g) Date of hire. The Employee's employment commencement date with the Employer. [ ] (h) (Specify) © Copyright 2005 SunGard Corbel 2/05 3 Eligible 457 Prototype Plan Salary Reduction Contributions Adoption Agreement ARTICLE III SALARY REDUCTION CONTRIBUTIONS 3.01 AMOUNT. The amount of Salary Reduction Contributions to the Plan for a Plan Year or other specified period will equal the dollar or percentage amount by which Participants have reduced their Compensation, pursuant to Salary Reduction Agreements. 3.02 LIMITS ON SALARY REDUCTION CONTRIBUTIONS. A Participant's Salary Reduction Contributions are subject to the following limitation(s) in addition to those imposed by the Code (Choose (a) or choose one or more of (b) through (d) as applicable): [X] (a) No limitations. [ ](b) Maximum deferral amount: [ ] (c) Minimum deferral amount: [ ] (d) (Specify) [Note: Any limitation the Employer elects in (b) through (d) will apply on a payroll basis unless the Employer otherwise specifies.) Age 50 Catch - up Contributions. [Plan Section 3.06] The Plan (Choose one of (e) or 0): [X] (e) Permits. Permits Participants to make age 50 catch -up contributions. [ ] (f) Does not permit. Does not permit Participants to make age 50 catch -up contributions. [Note: Only a Governmental Eligible 457 Plan may permit age 50 catch -up contributions.] Sick, Vacation and Back Pay. [Plan Section 3.02(A)] The Plan (Choose one of (g) or (h)): [X] (g) Permits. Permits Participants to make Salary Reduction Contributions from accumulated sick pay, from accumulated vacation pay or from back pay. [ ] (h) Does not permit. Does not permit Participants to make Salary Reduction Contributions from accumulated sick pay, from accumulated vacation pay or from back pay. Automatic Enrollment. [Plan Section 3.02(B)] The Plan (Choose one of (i) or (j)): [X] (i) Does not apply. Does not apply the Plan's Automatic Enrollment provisions. [ ] (j) Applies. Applies the Plan's Automatic Enrollment provisions. The Employer as a Salary Reduction Contribution will withhold % from each Participant's Compensation unless the Participant elects a lesser percentage (including zero) under his /her Salary Reduction Agreement. The automatic election will apply to (Choose one of (1) or (2)): [ ] (1) All Participants. All Participants who as of are not making Salary Reduction Contributions at least equal to the automatic amount. [ ] (2) New Participants. Each Employee whose Plan Entry Date is on or following: © Copyright 2005 SunGard Corbel 2/05 4 Eligible 457 Prototype Plan Salary Reduction Contributions Adoption Agreement ARTICLE IV TIME AND METHOD OF PAYMENT OF BENEFITS 4.02 TIME /METHOD OF PAYMENT OF ACCOUNT. The Plan will distribute to a Participant who incurs a Severance from Employment his /her Vested Account as follows: Timing. The Plan, in the absence of a permissible Participant election to commence payment later, will pay the Participant's Account (Choose one of (a) through (e)): [ ] (a) Specified Date. days after the Participant's Severance from Employment. [Note: In a Tax- Exempt Organization 457 Plan, the Employer may wish to designate a specific payment date. This date will be the date upon which a Participant's Deferred Compensation is "made available" and therefore becomes taxable to the Participant, absent a proper Participant election to defer payment.] [X] (b) Immediate. As soon as administratively practicable following the Participant's Severance from Employment. [ ] (c) Designated Plan Year. As soon as administratively practicable in the Plan Year beginning after the Participant's Severance from Employment. [ ] (d) Normal Retirement Age. As soon as administratively practicable after the close of the Plan Year in which the Participant attains Normal Retirement Age. [ ] (e) (Specify): Method. The Plan, in the absence of a permissible Participant election of an alternative method, will distribute the Account under one of the following method(s) of distribution (Choose one or more of (f) through (j) as applicable): [X] (f) Lump sum. A single payment. [X] (g) Installments. Multiple payments made as follows: monthly, quarterly, semi - annual or annual cash installments [ ] (h) Installments for required minimum distributions only. Annual payments are necessary under Plan Section 4.03. [X] (i) Annuity distribution option(s): Any option available under the group annuity contract • [X] (j) (Specify) The Plan will make mandatory distributions following Severance from Employment. The mandatory distribution maximum amount is equal to $5,000. In determining the mandatory distribution threshold Rollover Contributions are included. Participant Election. [Plan Sections 4.02(A) and (B)] The Plan (Choose one of (k), (1) or (m)): [X] (k) Permits. Permits a Participant, with Plan Administrator approval of the election, to elect to postpone distribution beyond the time the Employer has elected in (a) through (e) and also to elect the method of distribution (including a method not described in (f) through (j) above). © Copyright 2005 SunGard Corbel 2/05 5 Eligible 457 Prototype Plan Salary Reduction Contributions Adoption Agreement [ ] (1) Does not permit. Does not permit a Participant to elect the timing and method of Account distribution. [ ] (m) (Specify) : 4.03 REQUIRED MINIMUM DISTRIBUTIONS. The following elections apply to required minimum distributions under the Plan (Choose one of (a) or (b) as applicable. Choose (c) and (d) as applicable) : [ ] (a) Five - year rule. If a Participant with a designated Beneficiary dies before the required beginning date, the Plan will distribute the Participant's Account by December 31 of the calendar year containing the fifth anniversary of the Participant's death. [X] (b) Participant election. A Participant or designated Beneficiary, on an individual basis in accordance with applicable Treasury regulations, may elect whether to apply the five -year rule or the life expectancy rule to the distribution of a deceased Participant's Account. [ ] (c) Effective date. The required minimum distribution provisions of Section 4.03 apply commencing in 2003, or if later, on the Plan's Effective Date. [ ] (d) Special designated Beneficiary election. A designated Beneficiary who is receiving payments under the five -year rule on or before December 31, 2002, may elect the life expectancy rule, in accordance with applicable Treasury regulations. [Note: An Employer need not elect any of (a) through (d) above. These elections override certain "default" Plan provisions.] 4.05 DISTRIBUTIONS PRIOR TO SEVERANCE FROM EMPLOYMENT. A Participant prior to Severance from Employment, may elect to receive a distribution of his/her Vested Account under the following distribution options (Choose (a) or choose one or more of (b) through (f) as applicable): [ ] (a) None. A Participant may not receive a distribution prior to Severance from Employment. [X] (b) Unforeseeable emergency. A Participant may elect a distribution from his/her Account in accordance with Plan Section 4.05(A). [ ] (c) De minimis exception. [Plan Section 4.05(B)] If the Participant: (i) has an Account that does not exceed $5,000; (ii) has not made or received an allocation of any Deferral Contributions under the Plan during the two -year period ending on the date of distribution; and (iii) has not received a prior Plan distribution under this de minimis exception, then (Choose one of (1), (2) or (3)) : [ ] (1) Participant election. The Participant may elect to receive all or any portion of his /her Account. [ ] (2) Mandatory distribution. The Plan Administrator will distribute the Participant's entire Account. ] (3) Hybrid. The Plan Administrator will distribute a Participant's Account that does not exceed $ and the Participant may elect to receive all or any portion of his/her Account that exceeds $ but that does not exceed $5,000. [ ] (d) Age 70'/2. A Participant who attains age 70'/2 prior to Severance from Employment may elect distribution of any or all of his /her Account. [X] (e) Distribution of Rollover Contributions. A Participant (Choose one of (1) or (2)): © Copyright 2005 SunGard Corbel 2/05 6 Eligible 457 Prototype Plan Salary Reduction Contributions Adoption Agreement [X] (1) Distribution without restrictions. May elect distribution of his /her Rollover Contributions Account in accordance with Plan Section 4.05(C) as follows at any time. [ ] (2) No distribution. May not elect to receive distribution of his /her Rollover Contributions Account until the Participant has a distributable event under Plan Section 4.01. [ 1 (3) (Specify) [ ] (f) (Specify) [Note: An Employer in an Eligible 457 Plan need not permit any in- service distributions. In an Eligible 457 Plan, any election must comply with the distribution restrictions of Code §457(d).] 4.06 QDRO. The QDRO provisions of Plan Section 4.06 (Choose one of (a), (b) or (c)) : [X] (a) Apply. [ ] (b) Do not apply. [ ] (c) (Specify) ARTICLE V PLAN ADMINISTRATOR - DUTIES WITH RESPECT TO PARTICIPANTS' ACCOUNTS 5.07 ALLOCATION OF NET INCOME, GAIN OR LOSS. The Plan Administrator will allocate net income, gain or loss using the following method (Choose one of (a), (b) or (c)): [X] (a) Account Earnings. The Plan credits to each Account the Account's actual earnings, including Trust earnings if applicable. [ ] (b) Interest. The Plan credits to each Account interest at the rate of % per annum compounded [ ] (c) (Specify) • 5.11 VESTING /SUBSTANTIAL RISK OF FORFEITURE. A Participant's Deferral Contributions are (Choose one of (a), (b), (c) or (d)): [Note: If a Participant incurs a Severance from Employment before the specified events or conditions, the Plan will forfeit the Participant's Account.] [X] (a) 100% Vested. Immediately Vested without regard to additional Service. [ ] (b) Forfeiture under Vesting Schedule. Vested according to the following vesting schedule: Years of Service Vested Percentage © Copyright 2005 SunGard Corbel 2/05 7 Eligible 457 Prototype Plan Salary Reduction Contributions Adoption Agreement For this purpose, a "Year of Service" means: [ ] (c) Substantial Risk of Forfeiture. Vested only when no longer subject to the following Substantial Risk of Forfeiture as follows (Choose (1) or (2)) : [ ] (1) The Participant must remain employed by the Employer until , unless earlier Severance from Employment occurs on account of death or disability, as the Plan Administrator shall establish. [ [ (2) (Specify) [ ] (d) (Specify) [If the Employer elects (a), it need not elect one of (e) through (h) below.) Forfeiture Allocation. [Plan Sections 5.11(A) and 5.14] The Plan Administrator will allocate any Plan forfeitures (Choose one of (e), (f), (g) or (h)): [ ] (e) Reversion. As a reversion to the Employer. [Note: Do not elect (e) in a Governmental Eligible 457 Plan] [ ] (f) Additional Contributions. As the following contribution type (Choose one of (1) or (2)): [ ] (1) Nonelective. As an additional Nonelective Contribution. [ ] (2) Matching. As an additional Matching Contribution. [ ] (g) Reduce Fixed Contributions. To reduce the following fixed contribution (Choose one of (1) or ( : [ ] (1) Nonelective. The reduce the Employer's fixed Nonelective Contribution. [ ] (2) Matching. To reduce the Employer's fixed Matching Contribution. [ ] (h) (Specify) : ARTICLE VIII TRUST PROVISIONS — GOVERNMENTAL ELIGIBLE 457 PLAN 8.01 MODIFICATION OR SUBSTITUTION OF TRUST. The following provisions apply to Article VIII of the Plan (Choose one of (a) or (b) as applicable): [ ] (a) Modifications. The Employer modifies the Article VIII Trust provisions as follows: The remaining Article VIII provisions apply. [ ] (b) Substitution. The Employer replaces the Trust with the Trust Agreement attached to the Plan as "Appendix A." 8.04 DISCRETIONARY/NONDISCRETIONARY TRUSTEE. (Choose one of (a) or (b)): © Copyright 2005 SunGard Corbel 2/05 8 Eligible 457 Prototype Plan Salary Reduction Contributions Adoption Agreement [ ] (a) Discretionary trustee. [Plan Section 8.04] The Trustee is a discretionary Trustee. [ ] (b) Nondiscretionary trustee. [Plan Section 8.04(A)] The Trustee is a nondiscretionary Trustee. 8.16 CUSTODIAL ACCOUNT /ANNUITY CONTRACT. The Employer will hold all or part of the Deferred Compensation in one or more custodial accounts or annuity contracts which satisfy the requirements of Code §457(g) (Choose one or more of (a), (b) or (c) as applicable). [ ] (a) Custodial account(s). [X] (b) Annuity contract(s). [ ] (c) (Specify) : [Note: The Employer under (c) may wish to identify the custodial accounts or annuity contracts or to designate a portion of the Deferred Compensation to be held in such vehicles versus held in the Trust.] PLAN EXECUTION The Employer hereby agrees to the provisions of the Prototype Plan, as modified by the elections the Employer has made in this Adoption Agreement, and in witness of its agreement, the Employer, by its duly authorized officer or official, has executed this Adoption Agreement, on this day of tvdU 61 t2-- , 'Lon— . Name of Employer: Et. j D F J EFFe,e ge›.)4c.L= Employer's EIN: S #D r • Signed: wl tp. [Name /Title] The Trustee, by executing this Adoption Agreement, accepts its position as Trustee and agrees to all of the obligations, responsibilities and duties imposed upon the Trustee under the Prototype Plan and Trust Agreement. The Trustee has signified its acceptance, on this day of , f Name of Trustee: n/a — Annuity Contract Signed: n/a — Annuity Contract [Name /Title] © Copyright 2005 SunGard Corbel 2/05 9 HEART/WRERA Amendment — 457(b) HEART AND WRERA AMENDMENT FOR 457(b) PLAN ARTICLE I PREAMBLE 1.1 Effective date of Amendment. The Employer adopts this Amendment to the Plan to reflect recent law changes. This Amendment is effective as indicated below for the respective provisions. 1.2 Superseding of inconsistent provisions. This Amendment supersedes the provisions of the Plan to the extent those provisions are inconsistent with the provisions of this Amendment. 1.3 Employer's election. The Employer adopts all the default provisions of this Amendment except as otherwise elected in Article II. 1.4 Construction. Except as otherwise provided in this Amendment, any reference to "Section" in this Amendment refers only to sections within this Amendment, and is not a reference to the Plan. The Article and Section numbering in this Amendment is solely for purposes of this Amendment, and does not relate to any Plan article, section or other numbering designations. 1.5 Effect of restatement of Plan. If the Employer restates the Plan, then this Amendment shall remain in effect after such restatement unless the provisions in this Amendment are restated or otherwise become obsolete (e.g., if the Plan is restated onto a plan document which incorporates these provisions). ARTICLE II EMPLOYER ELECTIONS The Employer only needs to complete the questions in Sections 2.2 through 2.3 below in order to override the default provisions set forth below. 2.1 Default Provisions. Unless the Employer elects otherwise in this Article, the following defaults will apply: a. Continued benefit accruals pursuant to the Heroes Earnings Assistance and Relief Tax Act of 2008 (HEART Act) are not provided. b. Differential wage payments are treated as Compensation for all Plan benefit purposes. c. The Plan does not permit distributions pursuant to the HEART Act on account of "deemed" severance of employment. d. Requirement Minimum Distributions (RMDs) for 2009 were continued pursuant to Amendment Section 4.2 for Participants or Beneficiaries receiving automatic installments unless they elected not to receive such distributions. Required Minimum Distributions (RMDs) for 2009 were suspended pursuant to Amendment Section 4.1 for all other Participants or Beneficiaries unless they elected to receive such distributions. 2.2 HEART ACT provisions (Article III). Continued benefit accruals. Amendment Section 3.2 will not apply unless elected below: a. [ ] The provisions of Amendment Section 3.2 apply effective as of: (select one) © 2008 American United Life Insurance Company Page 1 of 5 G74374 HEART/WRERA Amendment — 457(b) 1. [ ] the first day of the 2007 Plan Year 2. [ ] (may not be earlier than the first day of the 2007 Plan Year). However, the provisions no longer apply effective as of: (select if applicable) 3. [ Differential pay. Differential wage payments (as described in Amendment Section 3.3) will be treated, for Plan Years beginning after December 31, 2009, as compensation for all Plan benefit purposes unless b. is elected below: b. [ ] In lieu of the above default provision, the employer elects the following (select all that apply; these selections do not affect the operation of Amendment Section 3.3(ii)): 1. [ ] the inclusion is effective for Plan Years beginning after (may not be earlier than December 31, 2008). 2. [ ] the inclusion only applies to Compensation for purposes of Elective Deferrals. Distributions for deemed severance of employment. The Plan does not permit distributions pursuant to Amendment Section 3.4 unless otherwise elected below: c. [ ] The Plan permits such distributions effective as of (may not be earlier than January 1, 2007). 2.3 WRERA (RMD waivers for 2009). The provisions of Amendment Section 4.1 and 4.2 as described in Section 2.1.d. apply unless otherwise elected below: a. [ ] The provisions of Amendment Section 4.1 apply (RMDs are suspended unless a Participant or Beneficiary elects otherwise). b. [ ] The provisions of Amendment Section 4.2 apply (RMDs continued unless otherwise elected by a Participant or Beneficiary). c. [ ] RMDs continued in accordance with the terms of the Plan without regard to this Amendment (i.e., no election available to Participants or Beneficiaries). d. [ ] Other For purposes of Amendment Section 4.3, a Governmental Eligible 457 Plan will also treat the following as eligible rollover distributions in 2009: (If no election is made, then a direct rollover will be offered only for distributions that would be eligible rollover distributions without regard to Code §401(a)(9)(H)): d. [ ] 2009 RMDs and Extended 2009 RMDs (both as defined in Article IV of this Amendment). e. [ ] 2009 RMDs (as defined in Article IV of this Amendment) but only if paid with an additional amount that is an eligible rollover distribution without regard to Code §401(a)(9)(H). ARTICLE III HEART ACT PROVISIONS 3.1 Death benefits. In the case of a death occurring on or after January 1, 2007, if a Participant in a Governmental Eligible 457 Plan dies while performing qualified military service (as defined in Code §414(u)), the Participant's Beneficiary is entitled to any additional benefits (other than benefit accruals relating to the period of qualified military service) provided under the Plan as if the Participant had resumed employment and then terminated employment on account of death. Moreover, the Plan will credit the Participant's qualified military service as service for vesting purposes, as though the Participant had resumed employment under USERRA immediately prior to the Participant's death. © 2008 American United Life Insurance Company Page 2 of 5 G74374 HEART/WRERA Amendment — 457(b) 3.2 Benefit accrual. If the Employer elects in Amendment Section 2.2 to apply this Section 3.2, then effective as of the date specified in Amendment Section 2.2, for benefit accrual purposes, the Plan treats an individual who dies or becomes disabled (as defined under the terms of the Plan) while performing qualified military service with respect to the Employer as if the individual had resumed employment in accordance with the individual's reemployment rights under USERRA, on the day preceding death or disability (as the case may be) and terminated employment on the actual date of death or disability. a. Determination of benefits. The Plan will determine the amount of employee contributions and the amount of elective deferrals of an individual treated as reemployed under this Section 3.2 for purposes of applying paragraph Code §414(u)(8)(C) on the basis of the individual's average actual employee contributions or elective deferrals for the lesser of: (i) the 12 -month period of service with the Employer immediately prior to qualified military service; or (ii) the actual length of continuous service with the Employer. 3.3 Differential wage payments. For years beginning after December 31, 2008: (i) an individual receiving a differential wage payment, as defined by Code §3401(h)(2), is treated as an employee of the employer making the payment; (ii) the differential wage payment is treated as compensation for purposes of Code §415(c)(3) and Treas. Reg. §1.415(c)-2 (e.g., for purposes of Code §415, including the definition of post- severance compensation for deferral purposes under Treas. Reg. §1.457- 4(d)(1)); and (iii) the Plan is not treated as failing to meet the requirements of any provision described in Code §414(u)(1)(C) (or corresponding plan provisions) by reason of any contribution or benefit which is based on the differential wage payment. The Plan Administrator operationally may determine, for purposes of the provisions described in Code §414(u)(1)(C), whether to take into account any deferrals, and if applicable, any matching contributions, attributable to differential wages. Differential wage payments (as described herein) will also be considered compensation for all Plan purposes unless otherwise elected at Amendment Section 2.2. Section 3.3(iii) above applies only if all employees of the Employer performing service in the uniformed services described in Code §3401(h)(2)(A) are entitled to receive differential wage payments (as defined in Code §3401(h)(2)) on reasonably equivalent terms and, if eligible to participate in a retirement plan maintained by the Employer, to make contributions based on the payments on reasonably equivalent terms (taking into account Code § §410(b)(3), (4), and (5)). 3.4 Deemed Severance. Notwithstanding Section 3.3(i), if a Participant performs service in the uniformed services (as defined in Code §414(u)(12)(B)) on active duty for a period of more than 30 days, the Participant will be deemed to have a severance from employment solely for purposes of eligibility for distribution of amounts not subject to Code §412. However, the Plan will not distribute such a Participant's account on account of this deemed severance unless the Participant specifically elects to receive a benefit distribution hereunder. If a Participant elects to receive a distribution on account of this deemed severance, then the individual may not make an elective deferral or employee contribution during the 6 -month period beginning on the date of the distribution. If a Participant would be entitled to a distribution on account of a deemed severance, and a distribution on account of another Plan provision (such as a qualified reservist distribution), then the other Plan provision will control and the 6 -month suspension will not apply. © 2008 American United Life Insurance Company Page 3 of 5 G74374 HEART/WRERA Amendment — 457(b) ARTICLE IV WAIVER OF 2009 REQUIRED DISTRIBUTIONS 4.1 Suspension of RMDs unless otherwise elected by Participant. This paragraph does not apply if the Employer elected Amendment Section 2.3 b, c, or d. Notwithstanding the provisions of the Plan relating to required minimum distributions under Code §401(a)(9), a Participant or Beneficiary who would have been required to receive required minimum distributions for 2009 but for the enactment of Code §401(a)(9)(H) ( "2009 RMDs "), and who would have satisfied that requirement by receiving distributions that are (1) equal to the 2009 RMDs or (2) one or more payments in a series of substantially equal distributions (that include the 2009 RMDs) made at least annually and expected to last for the life (or life expectancy) of the Participant, the joint lives (or joint life expectancy) of the Participant and the Participant's designated Beneficiary, or for a period of at least 10 years ( "Extended 2009 RMDs "), will not receive those distributions for 2009 unless the Participant or Beneficiary chooses to receive such distributions. Participants and Beneficiaries described in the preceding sentence will be given the opportunity to elect to receive the distributions described in the preceding sentence. 4.2 Continuation of RMDs unless otherwise elected by Participant. This paragraph does not apply if Amendment Section 2.3 a, c, or d is selected. Notwithstanding the provisions of the Plan relating to required minimum distributions under Code §401(a)(9), a Participant or Beneficiary who would have been required to receive required minimum distributions for 2009 but for the enactment of Code §401(a)(9)(H) ( "2009 RMDs "), and who would have satisfied that requirement by receiving distributions that are (1) equal to the 2009 RMDs or (2) one or more payments in a series of substantially equal distributions (that include the 2009 RMDs) made at least annually and expected to last for the life (or life expectancy) of the Participant, the joint lives (or joint life expectancy) of the Participant and the Participant's designated Beneficiary, or for a period of at least 10 years ( "Extended 2009 RMDs "), will receive those distributions for 2009 unless the Participant or Beneficiary chooses not to receive such distributions. Participants and Beneficiaries described in the preceding sentence will be given the opportunity to elect to stop receiving the distributions described in the preceding sentence. 4.3 Direct Rollovers. Notwithstanding the provisions of the Plan relating to required minimum distributions under Code §401(a)(9), and solely for purposes of applying the direct rollover provisions applicable to an Employer sponsoring a Governmental Eligible 457 Plan, certain additional distributions in 2009, as elected by the Employer in Amendment Section 2.3, will be treated as eligible rollover distributions. If no election is made by the Employer in Amendment Section 2.3, then a direct rollover will be offered only for distributions that would be eligible rollover distributions without regard to Code §401(a)(9)(H). ARTICLE V PARTICIPANT ELECTION OF TIME AND METHOD 5.1 Participant Election of Time and Method. The Employer in the Adoption Agreement must elect whether to permit Participants to elect the timing and method of distribution of their Account in accordance with Plan Section 4.02. The Plan Administrator must consent to the specific terms of any such Participant election and the Plan Administrator in its sole discretion may withhold consent. Subject to the foregoing conditions, a Participant: (1) may elect to postpone distribution of his /her Account beyond the time the Employer has elected in its Adoption Agreement, to any fixed or determinable date including, but not beyond, the Participant's required beginning date; and (2) may elect the method of payment. Effective as of the date this Plan amendment is adopted, a Participant may elect the timing and method of payment of his /her Account prior to the date the © 2008 American United Life Insurance Company Page 4 of 5 G74374 HEART/WRERA Amendment — 457(b) Plan Administrator or Trustee first would commence payment of the Participant's Account in accordance with the Adoption Agreement. The Plan Administrator must furnish to the Participant a form for the Participant to elect the time and a method of payment. * * * * * ** This Amendment has been executed this c L� day of 1bV V E 1.-1 t �, 20 11 - Name of Plan: CITY OF JEFFER' • NVILLE I1 CP PROGRAM Name of Employer: CITY OF J3FF R :ONVILLE By: V ~ LC. EMPLOYER © 2008 American United Life Insurance Company Page 5 of 5 G74374 Governmental PENSION PROTECTION ACT AMENDMENT FOR 457(b) PLAN City of Jeffersonville, as Employer sponsor ( "Employer "), adopts this Amendment to the City of Jeffersonville DCP Program ( "Plan "). RECITALS Recent law changes, including the Pension Protection Act of 2006 ( "PPA "), affect the Plan; and The Plan gives the Employer the authority to make amendments to the Plan, and the Employer wishes to update the Plan for law changes currently in effect. The Employer therefore amends the Plan by adding the following provisions to the Plan: ARTICLE I PREAMBLE 1.1 Adoption and effective date of Amendment. The Employer adopts this Amendment to the Plan to reflect recent law changes. This Amendment is effective as indicated below for the respective provisions. 1.2 Superseding of inconsistent provisions. This Amendment supersedes the provisions of the Plan to the extent those provisions are inconsistent with the provisions of this Amendment. 1.3 Employer's election. The Employer adopts all Articles of this Amendment, except those Articles which the Employer specifically elects not to adopt. 1.4 Construction. Any "Section" reference in this Amendment refers only to this Amendment, and is not a reference to the Plan. The Article and Section numbering in this Amendment is solely for purposes of this Amendment, and does not relate to the Plan article, section or other numbering designations. ARTICLE II DEFINITION OF UNFORESEEABLE EMERGENCY 2.1 Application. Effective for taxable years beginning after December 31, 2001, this Article II applies only if the Plan permits a distribution to a Participant on account of an unforeseeable emergency. 2.2 Definition of unforeseeable emergency. An unforeseeable emergency is a severe financial hardship of a Participant or Beneficiary resulting from: (1) illness or accident of the Participant, the Participant's Beneficiary, or the Participant's or Beneficiary's spouse or dependent (as defined in Code §152, and, for taxable years beginning on or after January 1, 2005, without regard to Code §152(b)(1), (b)(2), and (d)(1)(B)); (2) loss of the Participant's or Beneficiary's property due to casualty; (3) the need to pay for the funeral expenses of the Participant's or Beneficiary's spouse or dependent (as defined in Code § 152, and, for taxable years beginning on or after January 1, 2005, without regard to Code §152(b)(1), (b)(2), and (d)(1)(B)); or (4) other similar extraordinary and unforeseeable circumstances arising from events beyond the Participant's or Beneficiary's control. 2.3 Definition of Beneficiary. The Participant's Beneficiary is a person who a Participant designates and who is or may become entitled to a Participant's Plan account upon the Participant's death. © 2008 American United Life Insurance Company Page 1 of 6 G74374 Governmental ARTICLE III DEFERRALS FROM POST - SEVERANCE COMPENSATION 3.1 Post - severance deferrals limited to Post - Severance Compensation. For taxable years beginning after December 31, 2001, deferrals are permitted from an amount received following Severance from Employment only if the amount is Post - Severance Compensation as defined in Section 3.2. 3.2 Post - Severance Compensation defined. Post - Severance Compensation for purposes of this Article III includes the amounts described in (a) and, if elected, (b) below, paid after a Participant's Severance from Employment with the Employer, but only to the extent such amounts are paid by the later of 21/4 months after Severance from Employment or the end of the calendar year that includes the date of such Severance from Employment. The Employer, by its election in this Amendment, also may elect to include in the definition of Post - Severance Compensation the amounts described in (c) or (d) below, or both. (a) Regular pay. Post - Severance Compensation includes regular pay after Severance of Employment if: (i) the payment is regular compensation for services during the Participant's regular working hours, or compensation for services outside the Participant's regular working hours (such as overtime or shift differential), commissions, bonuses, or other similar payments; and (ii) the payment would have been paid to the Participant prior to a Severance from Employment if the Participant had continued in employment with the Employer. (b) Leave cashouts and deferred compensation. Post - Severance Compensation does not include (unless the Employer elects in (b)(1) below to include all of the amounts described in this (b)) leave cashouts if those amounts would have been included in the definition of Compensation if they were paid prior to the Participant's Severance from Employment, and the amounts are payment for unused accrued bona fide sick, vacation, or other leave, but only if the Participant would have been able to use the leave if employment had continued. In addition, Post - Severance Compensation includes payments of deferred compensation if the compensation would have been included in the definition of Compensation if it had been paid prior to the Participant's Severance from Employment, and the compensation is received pursuant to a nonqualified unfunded deferred compensation plan, but only if the payment would have been paid at the same time if the Participant had continued in employment with the Employer and only to the extent that the payment is includible in the Participant's gross income. [ ] (1) Election to include leave cashouts and deferred compensation. The Employer elects to include all of the amounts described in this (b) as Post - Severance Compensation. (c) Salary continuation payments for military service Participants. Post - Severance Compensation does not include (unless the Employer elects (c)(1) below to include all of the amounts described in this (c)) payments to an individual who does not currently perform services for the Employer by reason of Qualified Military Service (as described in Code §414(u)(1)) to the extent those payments do not exceed the amounts the individual would have received if the individual had continued to perform services for the Employer rather than entering Qualified Military Service. [X] (1) Election to include salary continuation payments for military service Participants. The Employer elects to include all of the amounts described in this (c) as Post - Severance Compensation. (d) Salary continuation payments for disabled Participants. Post - Severance does not include Compensation paid to a Participant who is permanently and totally disabled (as defined in Code §22(e)(3)) (unless the Employer elects (d)(1) below to include all of the amounts described in this © 2008 American United Life Insurance Company Page 2 of 6 G74374 Governmental (d)). If elected, this provision will apply either only to non - highly compensated Participants or to all Participants for the fixed or determinable period specified in Section 3.2(d)(1)(ii) below. [ ] (1) Election to include salary continuation payments for disabled Participants. The Employer elects to include all of the amounts described in this (d) as Post - Severance Compensation. In addition, this provision will apply as follows (Choose only one of (i) or [ ] (i) Non - highly compensated only. This provision applies only to disabled employees who are non - highly compensated employees immediately before becoming disabled. [ ] (ii) Fixed or determinable period. This provision applies to all employees who are permanently and totally disabled, for the following period: (e.g., for a period of two years from the date of the disability) 3.3 Limitation on Post - Severance Compensation. Any payment of Compensation paid after Severance of Employment that is not described in Section 3.2(a), (b), (c) or (d) above is not Post - Severance Compensation, even if payment is made by the later of 21/2 months after Severance from Employment or by the end of the calendar year that includes the date of such Severance of Employment. ARTICLE IV QUALIFIED DOMESTIC RELATIONS ORDERS 4.1 Application. Effective April 6, 2007, this Article IV applies only if the Plan permits a distribution pursuant to a qualified domestic relations order ( "QDRO "). 4.2 Permissible QDROs. A domestic relations order that otherwise satisfies the requirements for a QDRO will not fail to be a QDRO: (i) solely because the order is issued after, or revises, another domestic relations order or QDRO; or (ii) solely because of the time at which the order is issued, including issuance after the annuity starting date or after the Participant's death. 4.3 Other QDRO requirements apply. A domestic relations order described in Section 4.1 is subject to the same requirements and protections that apply to QDROs. ARTICLE V PARTICIPANT DISTRIBUTION NOTIFICATION 5.1 180 - day notification period. For any distribution notice issued in plan years beginning after December 31, 2006, any reference to the 90 -day maximum notice period prior to distribution in applying the notice requirements of Code §402(f) (the rollover notice relating to an eligible rollover distribution), means 180 days. ARTICLE VI DIRECT ROLLOVER OF NON - SPOUSE BENEFICIARY DISTRIBUTION 6.1 Non - spouse beneficiary rollover right. For distributions after December 31, 2006, a non - spouse beneficiary who is a "designated beneficiary" under Code §401(a)(9)(E) and the regulations thereunder, by a direct trustee -to- trustee transfer ( "direct rollover "), may roll over all or any portion of his /her distribution to an individual retirement account (including a Roth IRA) the beneficiary establishes for purposes of receiving the distribution. In order to be able to roll over the distribution, the distribution otherwise must satisfy the definition of an eligible rollover distribution. © 2008 American United Life Insurance Company Page 3 of 6 G74374 } Governmental 6.2 Certain requirements not applicable. Although a non - spouse beneficiary may roll over directly a distribution as provided in Section 6.1, the distribution is not subject to the direct rollover requirements of Code §401(a)(31), the notice requirements of Code §402(f) or the mandatory withholding requirements of Code §3405(c). If a non - spouse beneficiary receives a distribution from the Plan, the distribution is not eligible for a "60 -day" rollover. 6.3 Trust beneficiary. If the Participant's named beneficiary is a trust, the Plan may make a direct rollover to an individual retirement account on behalf of the trust, provided the trust satisfies the requirements to be a designated beneficiary within the meaning of Code §401(a)(9)(E). 6.4 Required minimum distributions not eligible for rollover. A non - spouse beneficiary may not roll over an amount which is a required minimum distribution, as determined under applicable Treasury regulations and other IRS guidance. 6.5 Mandatory default rollover not applicable. The mandatory default rollover provisions of the Plan under Code §401(a)(31)(B), relating to mandatory distributions (of an eligible rollover distribution) greater than $1,000, do not apply to distributions to a non - spouse beneficiary. ARTICLE VII STATUTORY HURRICANE RELIEF 7.1 Qualified Hurricane Distribution. A Participant may take a Qualified Hurricane Distribution, provided that the aggregate amount of Qualified Hurricane Distributions received by a Participant for any taxable year (from all plans maintained by the Employer, including any member of any controlled group that includes the Employer) may not exceed $100,000. (a) Repayment of distribution. If the Plan permits rollover contributions, a Participant who receives a Qualified Hurricane Distribution, at any time during the 3 -year period beginning on the day after receipt of the distribution, may make one or more contributions to the Plan, as rollover contributions, in an aggregate amount not to exceed the amount of such distribution. (b) Definition of Qualified Hurricane Distribution. A "Qualified Hurricane Distribution" means a distribution defined in Code §1400Q(a)(4)(A), which does not exceed the amount limitation described in this Section 7.1. 7.2 Recontribution of home purchase withdrawal. If the Plan permits rollover contributions, a Participant who received a Qualified Distribution (relating to a hardship distribution to purchase or construct a principal residence in an applicable hurricane disaster area), but who, on account of the hurricane, did not use the funds to purchase or construct a principal residence, may make one or more contributions to the Plan, as rollover contributions, during the Applicable Period, in an aggregate amount not to exceed the amount of such Qualified Distribution. (a) Definition of Qualified Distribution. A "Qualified Distribution" for purposes of this Section 7.2 means any qualified Katrina distribution, any qualified Rita distribution, and any qualified Wilma distribution, as defined in Code §1400Q(b)(2). (b) Definition of Applicable Period. The "Applicable Period" for purposes of this Section 7.2 means the applicable period as defined in Code §1400Q(b)(3). 7.3 Increased loan limit and repayment extension. Notwithstanding the loan limitation that otherwise would apply, the Plan will determine the loan limit under Code §72(p)(2)(A) for a loan to a Qualified Individual made during the Applicable Period by substituting "$100,000" for "$50,000," and by substituting "the present value of the nonforfeitable accrued benefit of the © 2008 American United Life Insurance Company Page 4 of 6 G74374 Governmental employee under the Plan" for "one -half of the present value of the nonforfeitable accrued benefit of the employee under the Plan." (a) Extension of certain repayments. If a Qualified Individual has an outstanding loan from the Plan on or after the Qualified Beginning Date, then: (i) if the date for any repayment of such loan occurs during the period beginning on the Qualified Beginning Date and ending on December 31, 2006, the due date is extended for one year; (ii) the Plan will adjust any subsequent repayments to reflect the extension of the due date under (i) and any interest accrued during the extension; and (iii) the Plan will disregard the period of extension described in (i) in determining the 5 -year period and the loan term under Code §72(p)(2)(B) or (C). (b) Definition of Qualified Individual. A "Qualified Individual" for purposes of this Section 7.3 means any qualified individual as defined in Code §1400Q(c)(3). (c) Definition of Applicable Period. The "Applicable Period" for purposes of this Section 7.3 means the applicable period as defined in Code §1400Q(c)(4). (d) Definition of Qualified Beginning Date. The "Qualified Beginning Date" for purposes of this Section 7.3 means the qualified beginning date as defined in Code §1400Q(c)(4). [ 1 Election to permit Statutory Hurricane Relief. ARTICLE VIII HEALTH AND LONG -TERM CARE INSURANCE DISTRIBUTIONS 8.1 Election to deduct from distribution. For distributions in taxable years beginning after December 31, 2006, an Eligible Retired Public Safety Officer may elect annually for that taxable year to have the Plan deduct an amount from a distribution which the Eligible Retired Public Safety Officer otherwise would receive and include in income. The plan will pay such deducted amounts directly to the provider as described in Section 8.2, to pay qualified health insurance premiums. 8.2 Direct payment. The Plan will pay directly to the provider of the accident or health insurance plan or qualified long -term care insurance contract the amounts the Eligible Retired Public Safety Officer has elected to have deducted from the distribution. Such amounts may not exceed the lesser of $3,000 or the amount the Participant paid for such taxable year for qualified health insurance premiums, and which otherwise complies with Code §402(1). 8.3 Definitions. (a) Eligible retired public safety officer. An "Eligible Retired Public Safety Officer" is an individual who, by reason of disability or attainment of normal retirement age, is separated from service as a Public Safety Officer with the Employer. (b) Public safety officer. A "Public Safety Officer" has the same meaning as in Section 1204(9)(A) of the Omnibus Crime Control and Safe Streets Act of 1968 (42 U.S.C. 3796b(9)(A)). (c) Qualified health insurance premiums. The term "qualified health insurance premiums" means premiums for coverage for the Eligible Retired Public Safety Officer, his /her spouse, and dependents, by an accident or health insurance plan or qualified long -term care insurance contract (as defined in Code §7702B(b)). [ 1 Election to permit health and long -term care insurance distributions. © 2008 American United Life Insurance Company Page 5 of 6 G74374 Governmental ARTICLE IX DIRECT ROLLOVER TO ROTH 9.1 Roth IRA rollover. For distributions made after December 31, 2007, a Participant may elect to roll over directly an eligible rollover distribution to a Roth IRA described in Code §408A(b). Except as provided in this Amendment, the Plan remains unchanged and in full force and effect. The Employer has executed this Amendment on CITY OF JEFFER O 1 ' LE By: A (X7 7\ - - [Print Name, Title] © 2008 American United Life Insurance Company Page 6 of 6 G74374