SUMMARY PLAN DESCRIPTION

Size: px
Start display at page:

Download "SUMMARY PLAN DESCRIPTION"

Transcription

1 SUMMARY PLAN DESCRIPTION BT US RETIREMENT SAVINGS PLAN 401(K) September 2011

2 TABLE OF CONTENTS Introduction...1 Type of Plan...1 Plan Sponsor...1 Purpose of This Summary... 1 Plan Administration... 1 Plan Trustee... 1 Plan Administrator...1 Plan Number...2 Service of Legal Process... 2 General Plan Definitions...2 Account... 2 ACP Test... 2 ADP Test... 2 Allocation Period... 3 Compensation... 3 Disability... 3 Eligible Employee Matching Contribution... 4 Normal Retirement Age...4 Period of Service...4 Period of Severance... 4 Plan Year...4 Profit Sharing Contribution...4 Pre-Tax Contributions...4 Vested Interest...5 Voluntary Employee Contributions... 5 Becoming a Participant... 5 Pre-Tax Contributions... 5 How the Contribution Is Determined... 5 Salary Deferral Agreements... 5 Automatic Enrollment and Automatic Increase.6 How Your Vested Interest Is Determined... 6 Matching Contributions... 6 How the Contribution Is Determined... 6 How You Qualify for a Contribution Allocation... 6 How Your Vested Interest Is Determined... 6 Profit Sharing Contributions... 7 How the Contribution Is Determined... 7 How You Qualify For a Contribution Allocation... 7 How the Contribution Is Allocated... 7 How Your Vested Interest Is Determined... 7 Top Heavy Requirements... 8 Maximum Allocation Limitations... 8 Rollover Contributions

3 Voluntary Employee Contributions... 9 Distribution Of Benefits...9 Distributions for Reasons Other Than Death...9 Distributions Upon Death...10 Hardship Distributions...10 In-Service Distributions...11 Loans to Participants...11 Loan Amount.12 Processing and Maintenance Fees.12 Loans Must Be Secured.12 Source of Funds.12 Promissory Note 12 Loan Repayments...12 Additional Loans..13 Loan Refinancing.13 Loan Default..13 Investment of Accounts.14 Tax Withholding on Distributions...14 Direct Rollovers Not Subject to Tax % Withholding on Taxable Distributions...15 Claims Procedure...15 Claims for Non-Disability Benefits...15 Claims for Disability Benefits...16 Other Information...18 Attachment of Your Account...18 Amendment or Termination of the Plan...18 Accounts Are Not Insured...18 Payment of Plan Expenses...18 Statement of ERISA Rights...19 Your Right To Receive Information...19 Duties of Plan Fiduciaries...19 Enforcement of Rights...19 Assistance With Your Questions

4 INTRODUCTION TYPE OF PLAN Effective January 1, 2009, BT Americas Holdings Inc. amended its 401(k) plan. The plan is named the BT U.S. Retirement Savings Plan 401(k), but it will be referred to in this summary as the "Plan". The Plan is a tax-qualified defined contribution retirement plan with a cash or deferred arrangement, meaning that, once you're eligible to participate, you can contribute your own money to the Plan on a tax deferred basis through payroll deductions. As explained in detail below, if you contribute to the Plan, then we will also make contributions to the Plan on your behalf. PLAN SPONSOR BT Americas Holdings Inc. is the sponsor of the Plan, and will sometimes be referred to in this summary as the "Sponsoring Employer," the "Employer," "we," "us" or "our". Our address is 2727 Paces Ferry Road NW, Two Paces West, Suite 1500, Atlanta, GA 30339; our telephone number is (678) ; and our employer identification number is Infonet Services Corporation, BT Americas Inc. and Radianz Americas Inc., Infonet USA Corp., BT Conferencing Inc., BT Conferencing Video Inc., BT Counterpane Internet Security Inc., BT INS, Inc. and BT Latam Inc. have also adopted this Plan as Adopting Employers for the benefit of any of their employees who are eligible to participate. Any reference to the Employer in this summary will generally be a reference to any Adopting Employer. PURPOSE OF THIS SUMMARY This booklet is called a Summary Plan Description ("SPD") and it is meant to describe highlights of the Plan in understandable language. It is not, however, meant to be a complete description of the Plan, nor is it meant to interpret, extend or change the provisions of the Plan in any way. If there is a conflict between this SPD and the Plan, the provisions of the Plan control your right to benefits. A copy of the Plan and related documents are on file with the Administrator and you can read them at any reasonable time. Also, no provision of the Plan or this SPD is intended to give you the right to continued employment or to prohibit changes in the terms or conditions of your employment. If you have any questions that are not addressed in this summary, you can contact the Administrator (who is described in the next section) during normal business hours. PLAN ADMINISTRATION PLAN TRUSTEE The Plan is administered under a written plan and trust agreement, and the trustee of that agreement is responsible for trusteeing the Plan's assets. The trustee is T. Rowe Price Trust Company. The trustee can be contacted at 100 East Pratt Street, Baltimore, MD The trustee is a directed trustee, which means that the trustee invests the assets of the Plan as instructed by us, by an investment manager (if we have appointed one), or by you (or other Plan Participants). PLAN ADMINISTRATOR All matters other than investments that concern the operation of the Plan are the responsibility of the Administrator. The Administrator is the Retirement Plan Committee, whose address is

5 Paces Ferry Road NW, Two Paces West, Suite 1500, Atlanta, GA 30339, and whose telephone number is (678) The Administrator has the power and discretionary authority to interpret the terms of the Plan based on the Plan document and existing laws and regulations, as well as the power to determine all questions that arise under the Plan. Such power and authority include, for example, the administrative discretion necessary to resolve issues with respect to an Employee s eligibility for benefits, credited service, Disability, and retirement, or to interpret any other term contained in the Plan and related documents. The Administrator s interpretations and determinations are binding on all Participants, employees, former employees, and their beneficiaries. PLAN NUMBER For identification purposes, we have assigned number 001 to the Plan. SERVICE OF LEGAL PROCESS If you have to bring legal action against the Plan for any reason, legal process can be served on the Administrator at 2727 Paces Ferry Road NW, Two Paces West, Suite 1500, Atlanta, GA Legal process can also be served on the trustee. GENERAL PLAN DEFINITIONS Many definitions are used in this summary and most are defined in the section where they appear, but the following terms have broader application and are used throughout this summary: ACCOUNT Your Account represents the aggregate value of the various contributions made to the Plan on your behalf, as well as the net earnings on those contributions. Your Account includes (but is not limited to) the following sub-accounts: Your Pre-Tax Contributions Account Your Matching Contribution Account Your Profit Sharing Contribution Account ACP TEST The ACP Test is a nondiscrimination test applied annually to the Matching Contributions made to the Plan. This test compares the Matching Contributions made by us on behalf of certain Participants who are "highly compensated" employees (HCEs) to the amount of Matching Contributions made by us on behalf of non-hces. Depending upon the results of the test, shortly after the end of each Plan Year, the Administrator may have to refund to certain HCEs a portion of their Matching Contributions. You will be notified by the Administrator if any of your Matching Contributions have to be refunded. ADP TEST The ADP Test is a nondiscrimination test applied annually to the Pre-Tax Contributions made to the Plan. This test compares the Pre-Tax Contributions made by certain Participants who are "highly compensated" employees (HCEs) to the amount of Pre-Tax Contributions made by non- HCEs. The ADP Test is intended to ensure a fair level of participation by all Participants regardless of Compensation levels. Depending upon the results of the test, shortly after the end of each Plan Year, the Administrator may have to refund to certain HCEs a portion of their Pre-Tax Contributions. You will be notified if any portion of your Pre-Tax Contributions has to be funded. 2

6 ALLOCATION PERIOD The Allocation Period is the period of time for which a contribution to the Plan is allocated. The Allocation Period is generally the Plan Year, but to the extent contributions are made more frequently than annually, they will be allocated based on the Compensation earned during the Allocation Period. Except as otherwise noted, a contribution for an Allocation Period of less than 12 months will not be adjusted at the end of the Plan Year to reflect annual Compensation. COMPENSATION Your Compensation, for purposes of the Plan, is the amount reported on your Form W-2 for the Plan Year. However, you cannot make Pre-Tax Contributions or Voluntary Employee Contributions, and Matching Contributions and Profit Sharing Contributions will not be made on your behalf, from any amount of your Compensation in excess of the annual dollar limit on Compensation, which is $245,000 for the Plan Year beginning on January 1, After 2010, this limit may increase pursuant to legal requirements. You also cannot make Pre-Tax Contributions or Voluntary Employee Contributions, and Matching Contributions and Profit Sharing Contributions will not be made on your behalf, from certain other types of excluded compensation including: taxable fringe benefits such as taxable group term life insurance, car allowance, and employer provided vehicle or transportation fringe benefits, tuition, relocation allowance, deferred compensation, qualified stock options, and severance payments. If you are absent from employment with us because of military service and we elect to give you differential pay during your period of military service, you will continue to be treated as an employee for Plan purposes. Differential pay, in general, is any payment we make to you while you are performing military service on active duty for more than 30 days and which represents all or a portion of the compensation you would have received if you were still performing services for us. However, differential pay will not be counted as Compensation in determining the amount of any contributions and allocations under the Plan. DISABILITY Disability is a physical or mental impairment you suffer after you become a Participant in the Plan (and while you are still an employee) which, in the opinion of a physician acceptable to the Administrator, totally and permanently prevents you from performing your customary and usual duties for us. If a difference of opinion arises between you and the Administrator as to whether you have suffered a Disability, it will be settled by a majority decision of three physicians, one to be appointed by the Administrator, one to be appointed by you, and the third to be appointed by the first two physicians. ELIGIBLE EMPLOYEE All employees are Eligible Employees for the Plan except for the following ineligible classes of Employees: (a) employees whose employment is governed by a collective bargaining agreement in which retirement benefits were the subject of good faith bargaining; (b) employees who are nonresident aliens who do not receive earned income from us which constitutes income from sources within the United States; (c) anyone who is a leased employee; and (d) employees who are employed by an affiliated employer which does not adopt this Plan. 3

7 Individuals classified by the Employer or an Adopting Employer as an independent contractor, consultant, contractors/consultants of third party leasing or staffing agencies, or similar classification are not "Eligible Employees" for purposes of the Plan, irrespective of: (i) whether such characterization is subsequently challenged, changed or upheld by a Participating Company or any court or governmental authority; and/or (ii) whether such individual is later retroactively reclassified as a common-law employee of the Employer during all or any part of such period pursuant to applicable law or otherwise. MATCHING CONTRIBUTION A Matching Contribution is a contribution we make to the Plan which matches some portion (or all) of the Pre-Tax Contributions you make to the Plan. NORMAL RETIREMENT AGE Normal Retirement Age is the date you reach age 60. Participants formerly in the International Network Services 401(k) Plan will be fully vested on attainment of age 55, Early Retirement Age in the former Plan. PERIOD OF SERVICE Generally, a Period of Service is the uninterrupted period during which you are employed by us, beginning on your employment commencement date or reemployment commencement date and ending on the date that your Period of Severance begins. A Period of Service includes a Period of Severance of less than 12 consecutive months; provided, however, that if you are absent from employment on the date immediately preceding the date your Period of Severance begins, then your Period of Severance will be included in your Period of Service only if you are reemployed within 12 months after the commencement of such absence. PERIOD OF SEVERANCE A Period of Severance means a continuous period of time during which you are not employed by us (except due to a military leave of absence), beginning on the earlier of (i) the date you quit, retire, are discharged or die, or (ii) the first anniversary of the beginning date of a period in which you are continuously absent from service (with or without pay) with us for any reason other than quitting, retirement, discharge or death. PLAN YEAR The Plan Year is the 12-month accounting year of the Plan, and it begins each January 1st and ends the following December 31st. PROFIT SHARING CONTRIBUTION A Profit Sharing Contribution is an additional type of contribution we may elect to make to the Plan for any Plan Year. Profit Sharing Contributions are generally made as a percentage of pay. PRE-TAX CONTRIBUTIONS Pre-Tax Contributions are the amounts you elect to contribute to the Plan through payroll withholdings. 4

8 VESTED INTEREST Your Vested Interest is the percentage of your Account to which you are entitled at any point in time. This percentage, in turn, is the aggregate of your Vested Interest in your various subaccounts. Different types of contributions are subject to different vesting requirements, which are explained in more detail in other sections of this summary pertaining to the particular types of contributions permitted in this Plan. However, notwithstanding any vesting schedule set forth in other sections of this summary, you will have a 100% Vested Interest in your Account upon reaching Normal Retirement Age, upon your death while you are still a Participant in the Plan, or upon suffering a Disability while you are still a Participant in the Plan. VOLUNTARY EMPLOYEE CONTRIBUTIONS Voluntary Employee Contributions are the amounts you elect to contribute to the Plan on an after-tax basis. BECOMING A PARTICIPANT You will become a Participant in the Plan on the date that you are hired if you are an Eligible Employee on that date. If not, then you will become a Participant on the date that you become an Eligible Employee. PRE-TAX CONTRIBUTIONS HOW THE CONTRIBUTION IS DETERMINED Your Pre-Tax Contributions for any calendar year can't exceed the lesser of 30% of your Compensation or the annual dollar limit on Pre-Tax Contributions. This annual dollar limit is $16,500 for calendar year 2011; this limit may increase in future years pursuant to legal requirements. Pre-Tax Contributions are allocated to your Pre-Tax Contributions Account. If you also make Voluntary Employee Contributions to the Plan, the total of your Elective Deferral and Voluntary Employee Contributions cannot exceed 30%. If you are a "catch-up eligible" Participant, you can make additional "catch-up contributions" to the Plan in excess of the limits on Pre-Tax Contributions described above. You are a catch-up eligible Participant for any calendar year in which you have reached (or will reach) at least age 50 by the end of that calendar year. The catch-up contribution limit is $5,500 for calendar year 2011, and may increase in future years pursuant to legal requirements. SALARY DEFERRAL AGREEMENTS Once you meet the eligibility requirements you can begin making Employee Deferrals to the Plan by calling T. Rowe Price at or visiting myretirementplan at rps.troweprice.com. You will decide the amount you want withheld from your Compensation and contributed to the Plan on your behalf. You can elect to contribute a percentage of your Compensation from 0% to 30%. 5

9 You can start, increase, decrease or stop your elections at anytime by notifying T. Rowe Price by phone at (800) or on-line at The Administrator from time to time may establish additional administrative procedures (or change existing procedures) concerning deferral elections, in which case you will be appropriately notified. The Administrator can temporarily suspend your deferral agreement if you reach the maximum amount that is permitted by law or the Plan, or if the Administrator believes the Plan may fail the ADP Test. You will be notified if your deferral agreement is temporarily suspended. Automatic Enrollment and Automatic Increase The Employer will automatically withhold as an Elective Deferral 3% of the Compensation of all new Participants. This automatic enrollment is effective as of the first payroll period that begins no earlier than 60 days after your hire date, unless during that 60-day period you elect otherwise. The percentage of Compensation withheld from a Participant's Compensation as an Elective Deferral under this "automatic enrollment" procedure will be increased each Plan Year (the "increase period") on the first pay date that coincides with or next follows the first day of each Plan Year. The amount of the increase will be 2 percentage points each increase period until the maximum percentage of the Participant's Compensation being withheld is 20% of Compensation. 100% of any Elective Deferrals withheld under this "automatic enrollment" procedure will irrevocably be considered Pre-Tax Elective Deferrals. If you did not choose an investment option at the time you were enrolled under automatic enrollment, your automatic enrollment contributions will be invested in the Plan s default investment. The Plan s default investment is the retirement fund with the target date closest to the year in which you turn 65. HOW YOUR VESTED INTEREST IS DETERMINED Your Vested Interest in your Pre-Tax Contributions Account is 100% at all times. MATCHING CONTRIBUTIONS HOW THE CONTRIBUTION IS DETERMINED We will make a Matching Contribution to the Plan (either annually or on a more frequent basis) for each eligible Participant equal to 66⅔% of the Participant's Pre-Tax Contributions that do not exceed 6% of the Participant s Compensation. HOW YOU QUALIFY FOR A CONTRIBUTION ALLOCATION Once you become a Participant, you are eligible for a Matching Contribution for any Allocation Period in which we make one, regardless of your length of service during the Allocation Period and whether you terminated employment with us before the last day of the Allocation Period. Matching Contributions are allocated to your Matching Contribution Account. HOW YOUR VESTED INTEREST IS DETERMINED Your Vested Interest in your Matching Contribution Account is determined by the schedule following this paragraph, based on your credited Periods of Service as of the date your Vested 6

10 Interest is determined. In determining your Vested Interest in this account, all of your Periods of Service will be counted, aggregating Periods of Service of less than 12 consecutive months, as necessary. Any part of this account which is not vested will be forfeited when you receive a distribution of your Vested Interest (or after you incur 5 consecutive 1-Year Periods of Severance) and will thereafter be used to reduce our other contributions. 1-Year Period of Service / 3 % Vested 2-Year Period of Service...66⅔% Vested 3-Year Period of Service...100% Vested PROFIT SHARING CONTRIBUTIONS HOW THE CONTRIBUTION IS DETERMINED We may also make Profit Sharing Contributions to the Plan. Making these contributions is totally discretionary on our part, as is the amount should we decide to make them. HOW YOU QUALIFY FOR A CONTRIBUTION ALLOCATION Once you become a Participant, you are eligible for a Profit Sharing Contribution for any Allocation Period in which we make one if you satisfy the requirements described below for that Allocation Period. Profit Sharing Contributions are allocated to your Profit Sharing Contribution Account. ACTIVE PARTICIPANTS. If you are still employed by us on the last day of an Allocation Period (and you are still an Eligible Employee on the last day of the Allocation Period), you will be eligible to receive an allocation. TERMINATED PARTICIPANTS. If you terminate employment with us before the last day of an Allocation Period because of your retirement on or after Normal Retirement Age, or because of your death or Disability, and you are an Eligible Employee on the day you terminate, you will be eligible to receive an allocation regardless of your service during the Allocation Period. If you terminate employment with us before the last day of an Allocation Period for any other reason, you will not be eligible to receive an allocation for that Allocation Period. HOW THE CONTRIBUTION IS ALLOCATED Profit Sharing Contributions are allocated in the ratio that your Compensation for the Allocation Period bears to the total Compensation of all Participants eligible to receive an allocation for the Allocation Period. This means that the amount allocated to each eligible Participant's Profit Sharing Contribution Account will, as a percentage of Compensation, be the same. For example, if the contribution is equal to 5% of all eligible Participants' Compensation, then that is the amount that will actually be allocated each eligible Participant's Profit Sharing Contribution Account. HOW YOUR VESTED INTEREST IS DETERMINED Your Vested Interest in your Profit Sharing Contribution Account is determined by the vesting schedule following this paragraph, based on your credited Periods of Service when your Vested Interest is determined. In determining your Vested Interest in this account, all of your Periods of Service will be counted, aggregating Periods of Service of less than 12 consecutive months, as 7

11 necessary. Any part of this account which is not vested will be forfeited when you receive a distribution of your Vested Interest (or after you incur 5 consecutive 1-Year Periods of Severance, if earlier) and will thereafter be used to reduce our other contributions. 1-Year Period of Service / 3 % Vested 2-Year Period of Service...66⅔% Vested 3-Year Period of Service...100% Vested TOP HEAVY REQUIREMENTS Under certain circumstances, you may be entitled to a minimum allocation for any Plan Year in which the Plan is considered "top heavy." The Plan is considered top heavy for any Plan Year in which more than 60% of Plan assets are allocated to the Accounts of Participants who are "key" employees (that is, employees who satisfy certain ownership requirements and employees who are officers and whose Compensation for the Plan Year exceeds certain IRS limits). However, the Plan automatically satisfies this requirement in any Plan Year for which we make a minimum top-heavy contribution on your behalf to another qualified retirement plan (if any) that we sponsor. If the Plan is not exempt, then for each Plan Year in which the Plan is considered top heavy and in which you are a "non-key" employee who is employed by us on the last day of the Plan Year, you will receive a minimum allocation equal to the lesser of 3% of your Compensation or the highest percentage of Compensation allocated for that Plan Year to the Accounts of Participants who are key employees. MAXIMUM ALLOCATION LIMITATIONS The amount of contributions and forfeitures that can be allocated to your Account for any Plan Year is limited by law to the lesser of 100% of your Compensation or the annual dollar limit, which is currently $49,000 for the Plan Year beginning on January 1, 2010; this limitation may increase in future years pursuant to legal requirements. However, this limitation does not apply to the amount of earnings that can be allocated to your Account, to the amount of any Rollover Contributions you can make to the Plan, or to any other funds transferred to this Plan on your behalf from another qualified plan. ROLLOVER CONTRIBUTIONS If you participated in another eligible retirement or annuity plan (other than plans qualified under Section 403(b) or 457(b) of the Internal Revenue Code of 1986, as amended) or you have an individual retirement account, you can roll over any distribution you receive from the other plan or IRA to this Plan if all legal requirements (and any requirements imposed by the Administrator) on such rollovers are satisfied. The amount you can rollover includes any portion of the distribution attributable to Voluntary Employee Contributions and unpaid loans. Do not withdraw funds from any other plan or account until you have received written approval from the Administrator to roll those funds into this Plan. If you do decide to make a rollover contribution and it is accepted by the Administrator, it will be kept in a separate Rollover Account established on your behalf. You will at all times have a 100% Vested Interest in your Rollover Account, and 8

12 you can make withdrawals from your Rollover Account at any time. However, once you have withdrawn a rollover contribution, it cannot be re-deposited into the Plan. VOLUNTARY EMPLOYEE CONTRIBUTIONS You can make after-tax Voluntary Employee Contributions to the Plan of up to 30% of your Compensation on an annual basis. If you also make Pre-Tax Contributions to the Plan, then the total of your Voluntary Employee and Pre-Tax Contributions cannot exceed 30%. The amount of your Voluntary Employee Contributions may reduce the amount of any Employer contributions that can be allocated to your other accounts. You will have a 100% Vested Interest in your Voluntary Employee Contribution Account, and you can withdraw your Voluntary Employee Contributions at any time. DISTRIBUTION OF BENEFITS DISTRIBUTIONS FOR REASONS OTHER THAN DEATH If you terminate employment with us for any reason and your Vested Interest in your Account (including your Rollover Account) is $5,000 or less, it will be distributed in a lump sum as soon as administratively feasible after you terminate employment. The distribution will be made to you or, at your election, will be rolled over either to another qualified retirement plan that agrees to receive the distribution or to an individual retirement account (IRA) established by you. However, if your Vested Interest in your Account (including your Rollover Account) is more than $1,000 but not more than $5,000 and you fail to elect either a lump sum or a rollover as described above, we will establish an IRA for you at a qualified financial institution of our choosing and automatically roll your Vested Interest in your Account over to that IRA. Your funds will then be invested in a type of investment designed to preserve principal and provide a reasonable rate of return and liquidity, such as an interest-bearing account, a certificate of deposit, or a money market fund. The IRA provider will charge your IRA for any expenses associated with the establishment and maintenance of the IRA and with the IRA investments. If your Vested Interest is rolled over to an IRA under this "automatic rollover" requirement, you will be given more information at that time regarding the IRA provider and any fees or expenses associated with the IRA. If your Vested Interest in your Account (including your Rollover Account) is more than $5,000 and you terminate employment because of retirement on or after Normal Retirement Age, your Vested Interest will generally be distributed within an administratively feasible time after you terminate. If you terminate employment for other reasons, including because you suffer a Disability, your Vested Interest will generally be distributed within an administratively feasible time after you request payment. Your Vested Interest will be distributed in a lump sum which can be paid to you or, at your election, can be rolled over either to another qualified retirement plan that agrees to receive the distribution or to an individual retirement account. You can also elect not to receive a lump sum and instead elect partial payments in amounts that you request from time to time. In addition to the benefit payments described above, there are rules which require that certain minimum distributions be made from the Plan. Generally, these minimum distributions must begin no later than the April 1st following the end of the year in which (a) you reach age 70½ or 9

13 (b) you retire, whichever occurs last. However, if you are a 5% owner, you must begin receiving minimum distributions by the April 1st following the end of the year in which you reach age 70½ even if you are still employed by the Employer. DISTRIBUTIONS UPON DEATH Your Vested Interest in your Account will be distributed to your beneficiary as soon as administratively feasible after your death. If you are not married, you can name anyone to be your beneficiary. If you are married, your spouse by law is your beneficiary unless he or she waives the death benefit in writing. Your Vested Interest will be distributed to your beneficiary in a lump sum. If your death occurs before the date that minimum distributions must begin (as described in the preceding section), the distribution of your Vested Interest to your beneficiary must be made within certain legal timeframes which are dependent upon several factors, including (a) whether you have a designated beneficiary, (b) your relationship to the beneficiary (spousal or nonspousal beneficiary) and (c) certain elections that your beneficiary may make after your death. However, if your death occurs after the date that minimum distributions must begin, the minimum death benefit that must be paid to your beneficiary each year after your death is based on the longer of your remaining life expectancy (had you survived) or the remaining life expectancy of your beneficiary. Your beneficiary may also choose to accelerate the payment rate. Please contact the Administrator for more information regarding payments to beneficiaries. If you are absent from employment with us because of military service and you die on or after January 1, 2007 while you are performing qualified military service (as defined under the Internal Revenue Code), you will be treated as having returned to employment with us on the day before your death for purposes of determining your Vested Interest. However, you will not be entitled to any additional benefits or contributions with respect to your period of military leave. HARDSHIP DISTRIBUTIONS As long as you are an employee, you can take a distribution to pay for a financial hardship caused by one or more of the following circumstances: Expenses for (or necessary to obtain) medical care that would be tax deductible (without regard to whether the expenses exceed 7.5% of your adjusted gross income). Costs related to the purchase of your principal residence (excluding mortgage payments). Payments necessary to prevent eviction from your principal residence or to prevent foreclosure on the mortgage of your principal residence. Tuition, related educational fees, and room and board, for up to the next 12 months of postsecondary education for you, your spouse, your children, or other eligible dependents. Funeral expenses for your deceased parent, spouse, children, or eligible dependents. Expenses for repair of damage to your principal residence that would qualify for a casualty deduction (without regard to whether the loss exceeds 10% of your adjusted gross income). You cannot make any Pre-Tax Contributions for 6 months after you take a hardship distribution. 10

14 Hardship distributions can be taken from the following accounts: Up to 100% of your Pre-Tax Contributions Account (excluding earnings) Up to 100% or your Vested Matching Contribution Account Up to 100% of your Vested Profit Sharing Contribution Account IN-SERVICE DISTRIBUTIONS As long as you are an employee and you have reached age 59½, you can take a lump sum distribution of up to 100% of your Pre-Tax Contributions Account, your Vested Matching Contribution Account and your Vested Profit Sharing Contribution Account. SPOUSAL CONSENT All in-service distributions must be consented to in writing by the applicant's spouse within the 90-day period ending on the date of the inception of the distribution. LOANS TO PARTICIPANTS You are permitted to borrow from the Plan with the approval of the Administrator. All loans will be made in accordance with the Loan Policy established by the Administrator below. BT U.S. RETIREMENT SAVINGS PLAN 401(K) ADMINISTRATIVE POLICY REGARDING PARTICIPANT LOANS Pursuant to Sections 7.1 and 8.6 of the BT U.S. Retirement Savings Plan 401(k) (the "Plan"), the Plan Administrator promulgates the rules and procedures set forth below to govern loans made from the Plan to Participants. LOAN APPLICATIONS All loan requests must be made via the Plan Account Line (PAL) at or through myretirementplan via rps.troweprice.com. All loan requests will be reviewed by the Plan Administrator on a nondiscriminatory basis. WHO CAN BORROW Participants who are still employed by BT Americas Holdings Inc. and have a Vested Interest in their account can apply for a loan. However, no otherwise qualified applicant can apply for a loan if he or she is currently in default on another loan. And no one who has incurred a "deemed distribution" on a previous loan can apply for or receive future loans until the outstanding loan amount is paid in full. A deemed distribution occurs if repayment is not made in accordance with federal laws and regulations, as explained in more detail below. REASONS FOR BORROWING A loan can be requested for any reason. 11

15 LOAN AMOUNT MAXIMUM PERMISSIBLE LOAN. In general, the maximum amount that can be borrowed is the lesser of 50% of a Participant's Vested Interest or $50,000. If the applicant has any existing loans, the $50,000 amount will be reduced by the excess (if any) of his or her highest outstanding aggregate loan balance during the 1-year period ending the day before this loan is made, over his or her outstanding aggregate loan balance on the day this loan is made. MINIMUM ALLOWABLE LOAN. Loans that are less than $1,000 will not be granted. PROCESSING AND MAINTENANCE FEES PROCESSING FEES. There is no fee to process a loan application or to process an application to refinance an existing loan. MAINTENANCE FEES. There are no annual maintenance fees on loans. LOANS MUST BE SECURED Each loan must be secured, including a loan for a residential mortgage (as described below in the section Loan Payments), with an irrevocable pledge and assignment of the applicant's Vested Interest. The applicant can also post any other security or substitute collateral the Administrator finds acceptable. SOURCE OF FUNDS An applicant can borrow from his or her Vested Interest (including his or her Rollover Account). If directed investments are permitted and a loan is obtained from more than one of the applicant's directed investment accounts (if any), the source of the loan will be in proportion to the respective directed investment accounts unless the applicant elects otherwise and the election is approved by the Administrator. PROMISSORY NOTE INTEREST RATE. The applicant must sign an interest-bearing promissory note for each loan. The interest rate will be established at the inception of the loan and will be set at one percentage point higher than the prime lending rate as posted in the Wall Street Journal (or similar financial publication) when the loan is made. The interest rate will be fixed and will not change for the duration of the loan. ALLOCATION OF INTEREST. All interest paid on a loan will be credited directly to the applicant's Account. LOANS REPAYMENTS MAXIMUM REPAYMENT PERIOD. Loans must be repaid by regular periodic payments for a period not greater than five years unless the loan qualifies as a residential mortgage loan, which is a loan used to acquire a residential dwelling such as a house, apartment, condominium, or mobile home (not used on a transient basis) which is used or is to be used within a reasonable time as the applicant's principal residence. Residential mortgage loans can be repaid over a period of up to 15 years.. The amount of any loan (other than a residential mortgage loan) that is not repaid within five years may be treated as a taxable distribution on the last day of the five-year period or, if sooner, at the time the loan is in default. If a 12

16 loan is extended beyond five years, the balance of the loan at the time of the extension may be a treated as taxable distribution. MANNER OF REPAYMENT. Loan payments can be paid directly by the applicant (at least quarterly) or, at his or her election if the applicant is an employee of BT Americas Holdings Inc. or of any other employer that has adopted this plan, by payroll withholding each pay period. If the applicant revokes the payroll deduction election, the unpaid principal sum of the loan plus accrued interest (plus any other amounts due under the loan) will become due and payable. EARLY REPAYMENT. Early repayment of a loan is permitted at any time, but only if the full balance is repaid. REPAYMENT UPON TERMINATION OF EMPLOYMENT. If the applicant terminates employment with an outstanding loan, the entire unpaid principal sum plus accrued interest (plus any other amounts due under the loan) will become due and payable. REPAYMENT WHILE ON A LEAVE OF ABSENCE. If the applicant takes an approved leave of absence, he or she can suspend loan payments for up to a one year period during which he or she either receives no pay or the pay received (after income and employment tax withholding) is less than the amount of the loan payments that would be required under the terms of the loan during that one year period. However, a suspension of payments cannot extend the term of the loan beyond five years from the original date of the loan unless the loan qualifies as a residential mortgage loan. REPAYMENT WHILE ON QUALIFIED MILITARY SERVICE. Loan payments can be suspended while the applicant is on duty in the armed forces (including inactive duty training and full-time National Guard duty). Once the applicant returns to work, the loan must be repaid in full (including interest that accrues during the period of military service) by the end of the period equal to the original term of the loan plus the period of military service. REPAYMENT UPON A DISTRIBUTABLE EVENT. If the applicant is entitled to a distribution from the Plan before a loan is repaid in full, the unpaid balance plus accrued interest will be deducted from the amount otherwise due. COLLECTION EXPENSES. If the applicant fails to repay the loan in a timely manner, the Administrator can charge his or her Account with any expenses directly related to the implementation, administration and collection of the loan. ADDITIONAL LOANS The applicant can only have one loan outstanding at a time. LOAN REFINANCING Loans cannot be refinanced. LOAN DEFAULT WHEN A DEFAULT OCCURS. A loan will be considered in default if any scheduled payment remains unpaid as of the end of the last day of the calendar quarter following the calendar quarter in which the required payment was due (or such later date if permitted by Internal Revenue Service rules and regulations). 13

17 SATISFACTION OF LOAN IF BENEFIT DISTRIBUTION IS PERMISSIBLE. After a default occurs, if a distribution of the applicant's benefit is permissible, the Vested Interest will be reduced or offset by the outstanding principal and interest of the defaulted loan. In such an event, the loan will be considered to have been repaid and the amount of the reduction or offset will be deemed to have been distributed from the Plan. If the applicant's Vested Interest is less than the loan amount due, the Administrator will take any steps necessary to collect the balance due directly from the applicant. SATISFACTION OF LOAN IF BENEFIT DISTRIBUTION IS NOT PERMISSIBLE (DEEMED DISTRIBUTIONS). After a default occurs, if a distribution of the applicant's benefit is not permissible, the outstanding balance of the loan will be treated as a "deemed distribution" for certain tax purposes (income, premature distribution penalty, etc.), but is not an actual distribution of the Account. Pending final disposition of the promissory note, the applicant remains obligated to repay the outstanding principal of the defaulted loan plus accrued interest to the date of repayment. COMPLIANCE WITH FEDERAL LAW AND REGULATIONS Notwithstanding any other provision in this Loan Policy, the loan program will be administered in accordance with Section 72(p) of the Internal Revenue Code, with Treasury Regulation 1.72(p)-1, and with various other rulings, regulations, IRS notices and other pertinent legal directives as issued or amended from time to time. If there is a conflict between the Loan Policy and any such statute, regulation or ruling, the provisions of the statute, regulation or ruling will control. INVESTMENT OF ACCOUNTS Subject to an investment policy established by the Administrator, you can direct how your Account will be invested. You can choose from any investment options offered by the Plan. You can switch between investments as often as is permitted under the investment options you choose. All earnings and losses on your directed investments will be credited directly to your Account. Investment results will reflect any fees and investment expenses for the investments you select. You may request more information on fees associated with an investment option from the Administrator. At the appropriate time, we will provide you with more detailed information about the investment options offered by the Plan. We intend to comply with Section 404(c) of the Employee Retirement Income Security Act of This means that if you are permitted to exercise independent control over the investment of youraccount and you are offered a reasonably diverse selection of well managed investment options, then the fiduciaries of the Plan, including the Administrator and us, may be relieved of certain liabilities for any losses which occur because you exercise control. TAX WITHHOLDING ON DISTRIBUTIONS Due to the complexity and frequency of changes in the federal laws that govern benefit distributions, penalties and taxes, the following is only a brief explanation of the law and IRS rules and regulations as of the date this summary is issued. You will receive additional information from the Administrator at the time of any benefit distribution, and you should consult your tax advisor to determine your personal tax situation before taking the distribution. 14

18 DIRECT ROLLOVERS NOT SUBJECT TO TAX Any eligible distribution that is directly rolled over to another eligible retirement account (either another qualified retirement plan or an individual retirement account) is not subject to income tax withholding. Generally, any part of a distribution from this Plan can be directly rolled over to another eligible retirement account unless the distribution (1) is part of a series of equal periodic payments made over your lifetime, or over the lifetime of you and your beneficiary, or over a period of 10 years or more; or (2) is a minimum benefit payment which must be paid to you by law. There are other distributions that are not eligible for direct rollover treatment, and you should contact the Administrator if you have questions about a particular distribution. 20% WITHHOLDING ON TAXABLE DISTRIBUTIONS If you have your benefit paid to you and it's eligible to be rolled over, you will receive only 80% of the benefit payment. The Administrator is required to withhold 20% of the benefit payment and remit it to the Internal Revenue Service as income tax withholding to be credited against your taxes. If you receive the distribution before you reach age 59½, you may also have to pay an additional 10% tax. You can still rollover all or a part of the 80% distribution that is paid to you by putting it into an IRA or into another qualified retirement plan within 60 days of receiving it. If you want to rollover 100% of the eligible distribution to an IRA or to another qualified retirement plan, you must find other money to replace the 20% that was withheld. You cannot elect out of the 20% withholding (1) unless you are permitted (and elect) to leave your benefit in this Plan, or (2) unless you have 100% of an eligible distribution directly rolled over to an IRA or to another qualified retirement plan that accepts rollover contributions. CLAIMS PROCEDURE If you feel that you are entitled to a benefit that you are not receiving from the Plan, you can make a written request to the Plan Administrator (or its delegate) for that benefit. Benefits fall into two categories Disability related benefits and non-disability related benefits. The claims procedure for each benefit is similar, but there are differences. The claims procedure and appeals process for each type of benefit is explained in more detail below. CLAIMS FOR NON-DISABILITY BENEFITS If you feel that you are entitled to a non-disability related benefit that you are not receiving, you can make a written request to the Administrator (or its delegate) for the benefit. If your request is denied, you will be informed by written or electronic notice within 90 days after the Administrator receives your request. This notice will contain the following information: (a) the specific reason or reasons for denial; (b) specific reference to the Plan provisions on which the denial is based; (c) a description of any additional material or information necessary in order to present a thorough appeal and an explanation of why such material or information is needed; and (d) an explanation of the claim appeal procedure and time limits applicable to the procedure, including a statement of your right to bring a civil action under ERISA Section 502 after a denial on appeal. Note: If the Administrator needs more than 90 days to review your claim for benefits, you will beadvised by written or electronic notice within 90 days after the Administrator receives your claim. The notice will tell you why the Administrator needs more time (which cannot exceed an additional 90 days), and the date by which you can expect a decision. 15

19 If you disagree with the Administrator's decision to deny your claim, you can appeal the denial to the Administrator. You must submit this appeal to the Administrator within 60 days after the date that you receive the notice of denial of your initial claim. For purposes of the review, you have the right to (a) submit written comments, documents, records and other information relating to the claim for benefits; (b) request, free of charge, reasonable access to, and copies of all documents, records and other information relevant to your claim for benefits; and (c) a review that takes into account all comments, documents, records, and other information you submitted relating to the claim, regardless of whether the information was submitted or considered in the initial decision. Your denied claim will be reviewed by the Administrator and within 60 days after receipt of the request for review you will receive a written or electronic notice of the Administrator's decision. The notice will (a) provide the specific reason or reasons for denial; (b) refer to the provisions of the Plan on which the denial is based; (d) contain a statement that you are entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records, and other information relevant to your claim; and (d) describe any voluntary appeal procedures offered by the Plan and your right to obtain information about the procedures, and a statement of your right to bring a civil action if you disagree with the Plan Administrator's decision on appeal. Note: If the Administrator needs more than 60 days to review your denied claim, you will beadvised in writing (or electronically) within 60 days after the Administrator receives the request for review. The notice will tell you why the Administrator needs more time (up to an additional 60days), and the date by which you can expect a decision. CLAIMS FOR DISABILITY BENEFITS If you feel that you are entitled to a Disability-related benefit that you are not receiving, you can make a written request to the Plan Administrator (or its delegate) for the benefit. If your request is denied, you will be informed by written or electronic notice within 45 days after the Administrator receives your request. This notice will contain the following information: (a) the specific reason or reasons for denial; (b) specific reference to the Plan provisions on which the denial is based; (c) a description of any additional material or information necessary in order to present a thorough appeal and an explanation of why such material or information is needed; and (d) an explanation of the claim appeal procedure and time limits applicable to the procedure, including a statement of your right to bring a civil action under ERISA Section 502 after a denial on appeal. In addition, if an internal rule, guideline, protocol, or other similar criterion was used in making the adverse determination, the notice must provide either the specific rule, guideline, protocol, or other similar criterion, or a statement that the rule, guideline, protocol, or other similar criterion was relied upon in making the adverse determination and that a copy of the rule, guideline, protocol, or other criterion will be provided to you free of charge upon request; and if the adverse benefit determination is based on a medical necessity or experimental treatment or similar exclusion or limit, the notice must provide either an explanation of the scientific or clinical judgment for the determination, applying the terms of the Plan to your medical circumstances, or a statement that the explanation will be provided to you free of charge upon request. Note: If the Administrator needs more than 45 days to review your claim for benefits because ofmatters beyond the Administrator's control, you will be advised by written or electronic noticewithin 45 days after the Administrator receives your claim. The notice will tell you why theadministrator needs more time (which cannot exceed an additional 30 days) and the date bywhich you can expect a decision. If, prior to the end of the first 30-day extension period, the Administrator determines that more time is needed to 16

20 review your claim, then the period for making the determination can be extended for up to an additional 30 days if you are notified prior to the expiration of the first 30-day extension period why an extension is needed and the date by which the Administrator expects to render a decision. Any notice of extension will specifically explain the standards on which entitlement to a benefit is based, the unresolved issues that prevent a decision on the claim, and the additional information needed to resolve those issues, and your will be afforded at least 45 days within which to provide the specified information. If you disagree with the Administrator's decision to deny your claim, you can appeal the denial to [the Administrator, who will then appoint an independent party to review your appeal] [NOTE: ERISA requires that appeals of disability-related claims be reviewed by an appropriate named fiduciary of the plan who is neither the individual who made the initial adverse benefit determination nor the subordinate of such individual. We advise that the fiduciary who will perform the review on appeal be identified in these claims procedures.]. You must submit this appeal to the Administrator within 180 days after the date that you receive the notice of denial of your initial claim. If your appeal is based in whole or in part based on a medical judgment, including determinations with regard to whether a particular treatment, drug, or other item is experimental, investigational, or not medically necessary or appropriate, then the party reviewing your appeal will consult with a health care professional who has appropriate training and experience in the field of medicine involved in the medical judgment. You will also be given the name of any medical or vocational expert whose advice was obtained by the Administrator in connection with the initial denial, even if the advice was not relied upon in denying your claim. Your denied claim will be reviewed by the Plan Administrator and within 45 days after receipt of the request for review you will receive a written notice of the Plan Administrator's decision. The notice will (a) provide the specific reason(s) for the denial; (b) refer to the provisions of the Plan on which the denial is based; (d) contain a statement that you are entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records, and other information relevant to your claim; and (d) describe any voluntary appeal procedures offered by the Plan and your right to obtain information about the procedures, and a statement of your right to bring a civil action if you disagree with the Plan Administrator's decision on appeal. In addition, if an internal rule, guideline, protocol, or other similar criterion was used in making the adverse determination, the notice must provide either the specific rule, guideline, protocol, or other similar criterion, or a statement that the rule, guideline, protocol, or other similar criterion was relied upon in making the adverse determination and that a copy of the rule, guideline, protocol, or other criterion will be provided to you free of charge upon request; and if the adverse benefit determination is based on a medical necessity or experimental treatment or similar exclusion or limit, the notice must provide either an explanation of the scientific or clinical judgment for the determination, applying the terms of the Plan to your medical circumstances, or a statement that the explanation will be provided to you free of charge upon request. The notice will also contain the following statement: You and your plan may have other voluntary alternative dispute resolution options, such as mediation. One way to find out what may be available is to contact your local U.S. Department of Labor Office and your State insurance regulatory agency. Note: If the Plan Administrator needs more than 45 days to review your denied claim, you will be advised in writing within 45 days after the Administrator receives the request for review. The notice will tell you why the Plan Administrator needs more time (which cannot exceed an additional 45 days), and the date by which you can expect a decision. 17

SUMMARY PLAN DESCRIPTION

SUMMARY PLAN DESCRIPTION SUMMARY PLAN DESCRIPTION INTERSTATE BATTERIES PROFIT SHARING & 401(K) PLAN This Summary Plan Description (the SPD), including the Summaries of Material Modification (SMM), is meant to describe highlights

More information

Summary Plan Description. PetSmart, Inc. SaveSmart 401(k) Plan

Summary Plan Description. PetSmart, Inc. SaveSmart 401(k) Plan Summary Plan Description PetSmart, Inc. SaveSmart 401(k) Plan As Revised Effective January 1, 2010 TABLE OF CONTENTS INTRODUCTION... - 1 - Type of Plan... - 1 - Plan Sponsor... - 1 - Purpose of This Summary...

More information

Schwab Individual 401(k) Plan Summary Plan Description

Schwab Individual 401(k) Plan Summary Plan Description Schwab Individual 401(k) Plan Summary Plan Description Employer Instructions 1. Complete the Summary Plan Description (SPD) in accordance with the elections you made on the Adoption Agreement. 2. Provide

More information

401(k) Summary Plan Description

401(k) Summary Plan Description 401(k) Summary Plan Description WELLSPAN 401(K) RETIREMENT SAVINGS PLAN SUMMARY PLAN DESCRIPTION I I PRIOR TO II III I TABLE OF TO YOUR PLAN What kind of Plan is this? 5 What information does this Summary

More information

PRO-SPHERE 401(K) PLAN SUMMARY PLAN DESCRIPTION

PRO-SPHERE 401(K) PLAN SUMMARY PLAN DESCRIPTION PRO-SPHERE 401(K) PLAN SUMMARY PLAN DESCRIPTION TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN What kind of Plan is this?... 1 What information does this Summary provide?... 1 ARTICLE I PARTICIPATION IN THE

More information

HOOD COLLEGE DEFINED CONTRIBUTION RETIREMENT PLAN SUMMARY PLAN DESCRIPTION

HOOD COLLEGE DEFINED CONTRIBUTION RETIREMENT PLAN SUMMARY PLAN DESCRIPTION HOOD COLLEGE DEFINED CONTRIBUTION RETIREMENT PLAN SUMMARY PLAN DESCRIPTION TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN ARTICLE I PARTICIPATION IN THE PLAN Am I eligible to participate in the Plan?...1

More information

GOLD CROSS SERVICES, INC. 401(K) RETIREMENT SAVINGS PLAN SUMMARY PLAN DESCRIPTION

GOLD CROSS SERVICES, INC. 401(K) RETIREMENT SAVINGS PLAN SUMMARY PLAN DESCRIPTION GOLD CROSS SERVICES, INC. 401(K) RETIREMENT SAVINGS PLAN SUMMARY PLAN DESCRIPTION TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN What kind of Plan is this?... 1 What information does this Summary provide?...

More information

SUMMARY PLAN DESCRIPTION COTY RETIREMENT SAVINGS PLAN

SUMMARY PLAN DESCRIPTION COTY RETIREMENT SAVINGS PLAN SUMMARY PLAN DESCRIPTION COTY RETIREMENT SAVINGS PLAN PREPARED APRIL 2011 TABLE OF CONTENTS Introduction... 1 Type of Plan... 1 Plan Sponsor... 1 Purpose of This Summary... 1 Who to Contact for Account

More information

SUMMARY PLAN DESCRIPTION

SUMMARY PLAN DESCRIPTION SUMMARY PLAN DESCRIPTION HCMC LEGAL, INC. EMPLOYEE STOCK OWNERSHIP PLAN EFFECTIVE AS OF AUGUST 19, 2011 TABLE OF CONTENTS Introduction... 1 Type of Plan... 1 Plan Sponsor... 1 Purpose of This Summary...

More information

Primatics Financial 401(k) Profit Sharing Plan & Trust SUMMARY PLAN DESCRIPTION

Primatics Financial 401(k) Profit Sharing Plan & Trust SUMMARY PLAN DESCRIPTION Primatics Financial 401(k) Profit Sharing Plan & Trust SUMMARY PLAN DESCRIPTION Primatics Financial 401(k) Profit Sharing Plan & Trust SUMMARY PLAN DESCRIPTION TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN...1

More information

ROCKY MOUNTAIN COLLEGE DEFINED CONTRIBUTION RETIREMENT PLAN SUMMARY PLAN DESCRIPTION

ROCKY MOUNTAIN COLLEGE DEFINED CONTRIBUTION RETIREMENT PLAN SUMMARY PLAN DESCRIPTION ROCKY MOUNTAIN COLLEGE DEFINED CONTRIBUTION RETIREMENT PLAN SUMMARY PLAN DESCRIPTION TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN ARTICLE I PARTICIPATION IN THE PLAN Am I eligible to participate in the

More information

AUI Supplemental Retirement Annuity Plan Summary Plan Description

AUI Supplemental Retirement Annuity Plan Summary Plan Description AUI Supplemental Retirement Annuity Plan Summary Plan Description November 2011 TABLE OF CONTENTS PAGE 1. What kind of plan is this?...1 2. Who is eligible to participate in the Plan?...2 3. Do I need

More information

401(k) Plan Summary Plan Description

401(k) Plan Summary Plan Description 401(k) Plan Summary Plan Description i Table of Contents Background Information... 1 Name of the Plan... 1 Plan Sponsor... 1 Plan Sponsor s IRS Identification Number... 1 Participating Companies... 1 Plan

More information

Summary Plan Description

Summary Plan Description Summary Plan Description Prepared for The College of Wooster Defined Contribution Plan July 2011 TABLE OF CONTENTS INTRODUCTION...3 ELIGIBILITY...4 A. Am I eligible to participate in the Plan?...4 B. What

More information

THE CITY OF GALLATIN 401(K) RETIREMENT PLAN SUMMARY PLAN DESCRIPTION

THE CITY OF GALLATIN 401(K) RETIREMENT PLAN SUMMARY PLAN DESCRIPTION THE CITY OF GALLATIN 401(K) RETIREMENT PLAN SUMMARY PLAN DESCRIPTION TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN What kind of Plan is this?... 1 What information does this Summary provide?... 1 ARTICLE

More information

(05/2010) C.B. FLEET COMPANY, INC. 401(k)/THRIFT PLAN

(05/2010) C.B. FLEET COMPANY, INC. 401(k)/THRIFT PLAN (05/2010) C.B. FLEET COMPANY, INC. 401(k)/THRIFT PLAN PLAN HIGHLIGHTS 4-4761 (CL2009) Plan Highlights briefly describes the plan. The rest of this booklet explains in greater detail how the plan works.

More information

Summary Plan Description

Summary Plan Description Summary Plan Description Prepared for Trinity University Defined Contribution Retirement Plan, Trinity University Tax Deferred Annuity Plan INTRODUCTION Trinity University has restated the Trinity University

More information

401(k) Plan (Non-Sales Rep Employees)

401(k) Plan (Non-Sales Rep Employees) 401(k) Plan (Non-Sales Rep Employees) The Stryker Corporation 401(k) Savings and Retirement Plan gives participants a way to save for their future financial needs. Important This summary plan description

More information

SUMMARY PLAN DESCRIPTION. EnerNOC, Inc. 401(k) Plan

SUMMARY PLAN DESCRIPTION. EnerNOC, Inc. 401(k) Plan SUMMARY PLAN DESCRIPTION EnerNOC, Inc. 401(k) Plan EnerNOC, Inc. 401(k) Plan SUMMARY PLAN DESCRIPTION...1 I. BASIC PLAN INFORMATION...2 A. ACCOUNT...2 B. BENEFICIARY...2 C. DEFERRAL CONTRIBUTION...2 D.

More information

SUMMARY PLAN DESCRIPTION FOR THE BECKER TRUCKING, INC. 401(k) PROFIT SHARING PLAN AND TRUST. (January 1, 2009) Revised

SUMMARY PLAN DESCRIPTION FOR THE BECKER TRUCKING, INC. 401(k) PROFIT SHARING PLAN AND TRUST. (January 1, 2009) Revised SUMMARY PLAN DESCRIPTION FOR THE BECKER TRUCKING, INC. 401(k) PROFIT SHARING PLAN AND TRUST (January 1, 2009) Revised TABLE OF CONTENTS Page (1) General... 1 (2) Identification of Plan... 1 (3) Type of

More information

Summary Plan Description. of the. BECKMAN PRODUCTION SERVICES 401(k) PLAN

Summary Plan Description. of the. BECKMAN PRODUCTION SERVICES 401(k) PLAN Summary Plan Description of the BECKMAN PRODUCTION SERVICES 401(k) PLAN 2015 TO OUR EMPLOYEES Beckman Production Services, Inc. ( Company ) established the Beckman Production Services 401(k) Plan ( Plan

More information

401(k) Retirement Plan

401(k) Retirement Plan The Stryker Corporation 401(k) Savings and Retirement Plan gives participants a way to save for their future financial needs. Overview of the Plan The Plan is a type of profit-sharing retirement plan known

More information

Summary Plan Description

Summary Plan Description Summary Plan Description Prepared for Loyola University Maryland Retirement Plan July, 2014 INTRODUCTION As of 07/01/2014, Loyola has restated the Loyola University Maryland Retirement Plan (the Plan )

More information

SUMMARY PLAN DESCRIPTION. STAPLES, INC. EMPLOYEES 401(k) SAVINGS PLAN

SUMMARY PLAN DESCRIPTION. STAPLES, INC. EMPLOYEES 401(k) SAVINGS PLAN SUMMARY PLAN DESCRIPTION STAPLES, INC. EMPLOYEES 401(k) SAVINGS PLAN Updated as of January 1, 2015 Important Note This booklet is called a Summary Plan Description ( SPD ) and is intended to provide a

More information

NOVA SOUTHEASTERN UNIVERSITY 401(K) PLAN SUMMARY PLAN DESCRIPTION

NOVA SOUTHEASTERN UNIVERSITY 401(K) PLAN SUMMARY PLAN DESCRIPTION NOVA SOUTHEASTERN UNIVERSITY 401(K) PLAN SUMMARY PLAN DESCRIPTION 11/21/11 TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN What kind of Plan is this?...1 What information does this Summary provide?...1 ARTICLE

More information

Summary Plan Description

Summary Plan Description Summary Plan Description Prepared for DePauw University Retirement Plan January 2012 TABLE OF CONTENTS Page INTRODUCTION...1 ELIGIBILITY...1 Am I eligible to participate in the Plan?...1 What requirements

More information

Defined Contribution and Tax-deferred Annuity Retirement Plan. Summary Plan Description

Defined Contribution and Tax-deferred Annuity Retirement Plan. Summary Plan Description Defined Contribution and Tax-deferred Annuity Retirement Plan Summary Plan Description Updated September 2015 This document provides each Participant with a description of the Institution's Defined Contribution

More information

SUMMARY PLAN DESCRIPTION. salesforce.com, Inc. and Salesforce.com Foundation 401(k) Plan

SUMMARY PLAN DESCRIPTION. salesforce.com, Inc. and Salesforce.com Foundation 401(k) Plan SUMMARY PLAN DESCRIPTION salesforce.com, Inc. and Salesforce.com Foundation 401(k) Plan salesforce.com, Inc. and Salesforce.com Foundation 401(k) Plan SUMMARY PLAN DESCRIPTION...1 I. BASIC PLAN INFORMATION...2

More information

Excel Finance Co. 401(k) Plan

Excel Finance Co. 401(k) Plan Excel Finance Co. 401(k) Plan Summary Plan Description The Summary Plan Description (SPD) which follows is a technical document that meets the legal requirements of the Department of Labor and Internal

More information

Summary Plan Description

Summary Plan Description Summary Plan Description Prepared for Olympia Sport Center, Inc. 401(k) Plan INTRODUCTION Olympia Sport Center, Inc. has established Olympia Sport Center, Inc. 401(k) Plan (the "Plan") to help you and

More information

SUMMARY PLAN DESCRIPTION. for the AMBROSE MULTIPLE EMPLOYER RETIREMENT SAVINGS PLAN

SUMMARY PLAN DESCRIPTION. for the AMBROSE MULTIPLE EMPLOYER RETIREMENT SAVINGS PLAN SUMMARY PLAN DESCRIPTION for the AMBROSE MULTIPLE EMPLOYER RETIREMENT SAVINGS PLAN TABLE OF CONTENTS (1) Eligibility to Participate... 4 (2) Types of Plan Contributions... 4 (3) Compensation... 7 (4) Vesting...

More information

SUMMARY PLAN DESCRIPTION NUTANIX, INC. 401(K) PLAN

SUMMARY PLAN DESCRIPTION NUTANIX, INC. 401(K) PLAN SUMMARY PLAN DESCRIPTION NUTANIX, INC. 401(K) PLAN Nutanix, Inc. 401(k) Plan SUMMARY PLAN DESCRIPTION...1 I. BASIC PLAN INFORMATION...2 A. ACCOUNT...2 B. BENEFICIARY...2 C. DEFERRAL CONTRIBUTION...2 D.

More information

Summary Plan Description

Summary Plan Description Summary Plan Description Prepared for The Cooper Union Defined Contribution Retirement Plan INTRODUCTION The Cooper Union has restated the The Cooper Union Defined Contribution Retirement Plan (the Plan

More information

PACE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN SUMMARY PLAN DESCRIPTION. January 1, 2010

PACE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN SUMMARY PLAN DESCRIPTION. January 1, 2010 PACE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN SUMMARY PLAN DESCRIPTION January 1, 2010 1674859.3 7/19/2010 TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN ARTICLE I PARTICIPATION IN THE PLAN Am I eligible

More information

AUBURN UNIVERSITY. 457(b) DEFERRED COMPENSATION PLAN SUMMARY EXPLANATION OF THE PLAN

AUBURN UNIVERSITY. 457(b) DEFERRED COMPENSATION PLAN SUMMARY EXPLANATION OF THE PLAN AUBURN UNIVERSITY 457(b) DEFERRED COMPENSATION PLAN SUMMARY EXPLANATION OF THE PLAN Effective September 6, 2012 AUBURN UNIVERSITY 457(b) DEFERRED COMPENSATION PLAN SUMMARY EXPLANATION OF THE PLAN TABLE

More information

401(k) Plan (Sales Reps)

401(k) Plan (Sales Reps) The Stryker Corporation 401(k) Savings and Retirement Plan gives participants a way to save for their future financial needs. Important Effective September 30, 2012 the former Stryker Corporation 401(k)

More information

Summary Plan Description

Summary Plan Description Summary Plan Description Prepared for Furman University Tax Deferred Annuity Plan INTRODUCTION Furman University has restated the Furman University Tax Deferred Annuity Plan (the Plan ) to help you and

More information

Xpre$$avings 401(k) Plan

Xpre$$avings 401(k) Plan Table of Contents Introduction... 3 Important Information About the Plan... 4 Joining the Plan... 6 Contributions to the Plan... 7 Managing Your Account... 12 Ownership of Your Account (Vesting)... 14

More information

Any questions about your benefits under the 401(k) Plan should be directed to your Human Resources representative.

Any questions about your benefits under the 401(k) Plan should be directed to your Human Resources representative. Summary Plan Description Background The COUNTRY/IAA 401(k) Plan, (the Plan or the 401(k) Plan) is a defined contribution plan that provides retirement benefits. The Employee Retirement Income Security

More information

SAIIA CONSTRUCTION COMPANY LLC. Saiia Construction Company LLC 401(k) Profit Sharing Plan SUMMARY PLAN DESCRIPTION

SAIIA CONSTRUCTION COMPANY LLC. Saiia Construction Company LLC 401(k) Profit Sharing Plan SUMMARY PLAN DESCRIPTION SAIIA CONSTRUCTION COMPANY LLC Saiia Construction Company LLC 401(k) Profit Sharing Plan SUMMARY PLAN DESCRIPTION January 1, 2014 TABLE OF CONTENTS INTRODUCTION... 1 GENERAL PLAN INFORMATION... 1 A. Agent

More information

Favorite Healthcare Staffing 401 (k) Retirement Plan Summary Plan Description

Favorite Healthcare Staffing 401 (k) Retirement Plan Summary Plan Description Favorite Healthcare Staffing 401 (k) Retirement Plan Table of Contents: Article 1... Introduction Article 2...General Plan Information and Key Definitions Article 3... Description of Plan Article 4...Plan

More information

COLGATE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN SUMMARY PLAN DESCRIPTION JANUARY 2013

COLGATE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN SUMMARY PLAN DESCRIPTION JANUARY 2013 COLGATE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN SUMMARY PLAN DESCRIPTION JANUARY 2013 TABLE OF CONTENTS ARTICLE I PARTICIPATION IN THE PLAN Page Am I eligible to participate in the Plan?... 2 When

More information

CENTRAL GEORGIA HEALTH VENTURES, INC. 401(K) PLAN SUMMARY PLAN DESCRIPTION GA#04082.P002

CENTRAL GEORGIA HEALTH VENTURES, INC. 401(K) PLAN SUMMARY PLAN DESCRIPTION GA#04082.P002 CENTRAL GEORGIA HEALTH VENTURES, INC. 401(K) PLAN SUMMARY PLAN DESCRIPTION TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN What kind of Plan is this?... 1 What information does this Summary provide?... 1 ARTICLE

More information

SUMMARY PLAN DESCRIPTION. Roman Catholic Diocese of Erie, Pennsylvania 401(k) Retirement Plan

SUMMARY PLAN DESCRIPTION. Roman Catholic Diocese of Erie, Pennsylvania 401(k) Retirement Plan SUMMARY PLAN DESCRIPTION Roman Catholic Diocese of Erie, Pennsylvania 401(k) Retirement Plan Table of Contents I. BASIC PLAN INFORMATION AND DEFINITIONS...2 A. ACCOUNT...2 B. BENEFICIARY...2 C. DISABLED

More information

VILLANOVA UNIVERSITY RETIREMENT SAVINGS PLAN. SUMMARY PLAN DESCRIPTION (As Amended and Restated effective as of January 1, 2013) March 2014

VILLANOVA UNIVERSITY RETIREMENT SAVINGS PLAN. SUMMARY PLAN DESCRIPTION (As Amended and Restated effective as of January 1, 2013) March 2014 VILLANOVA UNIVERSITY RETIREMENT SAVINGS PLAN SUMMARY PLAN DESCRIPTION (As Amended and Restated effective as of January 1, 2013) March 2014 DMEAST #18433043 v2 TABLE OF CONTENTS Page I. INTRODUCTION...

More information

ST. JOHN S UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN (JANUARY 1, 2015 RESTATEMENT)

ST. JOHN S UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN (JANUARY 1, 2015 RESTATEMENT) ST. JOHN S UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN (JANUARY 1, 2015 RESTATEMENT) INTRODUCTION This document is both the formal document that constitutes the St. John s University Defined Contribution

More information

SUMMARY PLAN DESCRIPTION FOR MARC CENTER 401(K) RETIREMENT PLAN

SUMMARY PLAN DESCRIPTION FOR MARC CENTER 401(K) RETIREMENT PLAN . SUMMARY PLAN DESCRIPTION FOR MARC CENTER 401(K) RETIREMENT PLAN Marc Center 401(k) Retirement Plan Summary Plan Description Table of Contents DESCRIPTION PAGE. INTRODUCTION 1 GENERAL INFORMATION 2 PARTICIPATION

More information

Randolph College Defined Contribution and Tax-Deferred Annuity Retirement Plan. Plan Document

Randolph College Defined Contribution and Tax-Deferred Annuity Retirement Plan. Plan Document Randolph College Defined Contribution and Tax-Deferred Annuity Retirement Plan Plan Document Amended and Restated Effective as of January 1, 2012 2 TABLE OF CONTENTS Page ARTICLE I: DEFINITIONS... 1 ARTICLE

More information

Defined Contribution and Tax-deferred Annuity Retirement Plan

Defined Contribution and Tax-deferred Annuity Retirement Plan Defined Contribution and Tax-deferred Annuity Retirement Plan January 2011 This document provides each Participant with a description of the Institution's Defined Contribution and Tax-deferred Annuity

More information

SUMMARY REVIEW COLORADO COUNTY OFFICIALS AND EMPLOYEES RETIREMENT ASSOCIATION 457 DEFERRED COMPENSATION PLAN FOR THE

SUMMARY REVIEW COLORADO COUNTY OFFICIALS AND EMPLOYEES RETIREMENT ASSOCIATION 457 DEFERRED COMPENSATION PLAN FOR THE SUMMARY REVIEW FOR THE COLORADO COUNTY OFFICIALS AND EMPLOYEES RETIREMENT ASSOCIATION 457 DEFERRED COMPENSATION PLAN TABLE OF CONTENTS INTRODUCTION... i HIGHLIGHTS... 2 PARTICIPATION... 2 Eligibility to

More information

North Carolina Public School Teachers and Professional Educators Investment Plan 403(b) Volume Submitter Plan

North Carolina Public School Teachers and Professional Educators Investment Plan 403(b) Volume Submitter Plan SPECIMEN DOCUMENT 5/09/14 North Carolina Public School Teachers and Professional Educators Investment Plan 403 Volume Submitter Plan Base Plan Document [Note: This document will be submitted to the IRS

More information

Summary Plan Description

Summary Plan Description Summary Plan Description Prepared for Norwich University Defined Contribution Retirement Plan INTRODUCTION Norwich University has restated the Norwich University Defined Contribution Retirement Plan (the

More information

Emory University Retirement Plan

Emory University Retirement Plan Emory University Retirement Plan Revised Summary Plan Description January 2012 852048-3 EMORY UNIVERSITY RETIREMENT PLAN Revised Summary Plan Description January 2012 Introduction Emory University is pleased

More information

IU 457(b) Retirement Plan

IU 457(b) Retirement Plan IU 457(b) Retirement Plan July 2013 January 2015 Contents IU 457(b) Retirement Plan Highlights... iv Section A: General Information...1 Section B: Participation and Service...2 Section C: Contributions...3

More information

Summary Plan Description

Summary Plan Description Summary Plan Description Prepared for Worcester Polytechnic Institute Defined Contribution Plan INTRODUCTION Worcester Polytechnic Institute has restated the Worcester Polytechnic Institute Defined Contribution

More information

SUMMARY OF THE COUNTY OF SAN DIEGO INCENTIVE RETIREMENT DEFERRED COMPENSATION PLAN

SUMMARY OF THE COUNTY OF SAN DIEGO INCENTIVE RETIREMENT DEFERRED COMPENSATION PLAN SUMMARY OF THE COUNTY OF SAN DIEGO INCENTIVE RETIREMENT DEFERRED COMPENSATION PLAN This summary describes the County of San Diego Incentive Retirement Deferred Compensation Plan as in effect on July 28,

More information

Franklin Templeton Small Business Plans. Summary Plan Description. Plan and Trust Document

Franklin Templeton Small Business Plans. Summary Plan Description. Plan and Trust Document Standardized Franklin Templeton Profit Sharing Plan Small Business Plans Summary Plan Description Plan and Trust Document TABLE OF CONTENTS INTRODUCTION............................. 1 GENERAL PLAN INFORMATION

More information

THE EMPLOYEE INVESTMENT PROGRAM

THE EMPLOYEE INVESTMENT PROGRAM THE EMPLOYEE INVESTMENT PROGRAM The Employee Investment Program (EIP or Program) has two components: 1) The Employee Investment Plan Account governed by Internal Revenue Code Section 403(b) - the account

More information

SUMMARY PLAN DESCRIPTION. Health Care Innovations, Inc. 401(k) Plan

SUMMARY PLAN DESCRIPTION. Health Care Innovations, Inc. 401(k) Plan SUMMARY PLAN DESCRIPTION Health Care Innovations, Inc. 401(k) Plan 04/30/2007 Health Care Innovations, Inc. 401(k) Plan SUMMARY PLAN DESCRIPTION...3 I. BASIC PLAN INFORMATION...4 A. ACCOUNT...4 B. BENEFICIARY...4

More information

Information About Your Hardship Withdrawal Request. Types of Requests

Information About Your Hardship Withdrawal Request. Types of Requests Information About Your Hardship Withdrawal Request A Hardship Withdrawal from a 401(k) Plan is subject to IRS Regulations. Please review the following information before completing the Request form. Types

More information

SUMMARY PLAN DESCRIPTION NORTHERN CALIFORNIA CARPENTERS 401(K) PLAN

SUMMARY PLAN DESCRIPTION NORTHERN CALIFORNIA CARPENTERS 401(K) PLAN SUMMARY PLAN DESCRIPTION NORTHERN CALIFORNIA CARPENTERS 401(K) PLAN As of September 1, 2014 Important Note This booklet is called a Summary Plan Description ( SPD ) and is intended to provide a brief description

More information

ALLEGIS GROUP, INC. RETIREMENT SAVINGS PLAN SUMMARY PLAN DESCRIPTION FOR INTERNAL EMPLOYEES

ALLEGIS GROUP, INC. RETIREMENT SAVINGS PLAN SUMMARY PLAN DESCRIPTION FOR INTERNAL EMPLOYEES ALLEGIS GROUP, INC. RETIREMENT SAVINGS PLAN SUMMARY PLAN DESCRIPTION FOR INTERNAL EMPLOYEES January 1, 2012 CONTENTS I. INTRODUCTION...1 II. PLAN MANAGEMENT...1 III. WHO PARTICIPATES AND WHEN...2 IV. YOUR

More information

Morristown-Hamblen Hospital Association 401(k) Plan SUMMARY PLAN DESCRIPTION JULY 1, 2011

Morristown-Hamblen Hospital Association 401(k) Plan SUMMARY PLAN DESCRIPTION JULY 1, 2011 Morristown-Hamblen Hospital Association 401(k) Plan SUMMARY PLAN DESCRIPTION JULY 1, 2011 Morristown-Hamblen Hospital Association 401(k) Plan SUMMARY PLAN DESCRIPTION...1 I. BASIC PLAN INFORMATION...2

More information

403(b) RETIREMENT PLAN SUMMARY PLAN DESCRIPTION

403(b) RETIREMENT PLAN SUMMARY PLAN DESCRIPTION 403(b) RETIREMENT PLAN SUMMARY PLAN DESCRIPTION January 1, 2010 GONZAGA UNIVERSITY 403(b) RETIREMENT PLAN I. INTRODUCTION... 1 II. PLAN DATA... 1 III. DEFINITIONS... 2 Compensation.... 2 Disability...

More information

TRIUMPH GROUP, INC. (For Non-Bargaining Unit Employees of Triumph Aerostructures, LLC, VAC Industries, Inc. and Vought Commercial Aircraft Company)

TRIUMPH GROUP, INC. (For Non-Bargaining Unit Employees of Triumph Aerostructures, LLC, VAC Industries, Inc. and Vought Commercial Aircraft Company) SUMMARY PLAN DESCRIPTION OF TRIUMPH GROUP, INC. 401(k) PLAN (For Non-Bargaining Unit Employees of Triumph Aerostructures, LLC, VAC Industries, Inc. and Vought Commercial Aircraft Company) Effective January

More information

AMTRUST RETIREMENT PLAN SUMMARY PLAN DESCRIPTION UPDATED MAY 1, 2015

AMTRUST RETIREMENT PLAN SUMMARY PLAN DESCRIPTION UPDATED MAY 1, 2015 AMTRUST RETIREMENT PLAN SUMMARY PLAN DESCRIPTION UPDATED MAY 1, 2015 TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN What kind of Plan is this?... 1 What information does this Summary provide?... 1 ARTICLE

More information

POWER SOLUTIONS INTERNATIONAL, INC. 70,000 SHARES OF COMMON STOCK TO BE ISSUED UNDER THE POWER GREAT LAKES, INC. EMPLOYEES 401(K) PROFIT SHARING PLAN

POWER SOLUTIONS INTERNATIONAL, INC. 70,000 SHARES OF COMMON STOCK TO BE ISSUED UNDER THE POWER GREAT LAKES, INC. EMPLOYEES 401(K) PROFIT SHARING PLAN PROSPECTUS POWER SOLUTIONS INTERNATIONAL, INC. 70,000 SHARES OF COMMON STOCK TO BE ISSUED UNDER THE POWER GREAT LAKES, INC. EMPLOYEES 401(K) PROFIT SHARING PLAN This document relates to retirement benefits

More information

Summary Plan Description

Summary Plan Description Summary Plan Description Prepared for TIAA-CREF Tax-Deferred Retirement Annuity Plan for all Wilkes University Personnel INTRODUCTION Wilkes University has restated the TIAA-CREF Tax-Deferred Retirement

More information

SOUTHERN OHIO EDUCATIONAL SERVICE CENTER. 403(b) RETIREMENT PLAN

SOUTHERN OHIO EDUCATIONAL SERVICE CENTER. 403(b) RETIREMENT PLAN SOUTHERN OHIO EDUCATIONAL SERVICE CENTER 403(b) RETIREMENT PLAN TABLE OF CONTENTS Parties to Agreement................................................... 3 Recitals.............................................................

More information

CHAPMAN UNIVERSITY TAX-DEFERRED ANNUITY (TDA) RETIREMENT PLAN

CHAPMAN UNIVERSITY TAX-DEFERRED ANNUITY (TDA) RETIREMENT PLAN CHAPMAN UNIVERSITY TAX-DEFERRED ANNUITY (TDA) RETIREMENT PLAN Summary Plan Description This document is a summary of the provisions of Chapman University Tax-Deferred Annuity (TDA) Retirement Plan (the

More information

Learn more about qualified retirement plans

Learn more about qualified retirement plans FAQ s Learn more about qualified retirement plans LOANS DISTRIBUTIONS HARDSHIP WITHDRAWALS CONTRIBUTIONS ELIGIBILITY LOANS Can a participant borrow money from a qualified retirement plan? Each plan varies

More information

SAVE MART 401(K) COMPANY MATCH PLAN SUMMARY PLAN DESCRIPTION

SAVE MART 401(K) COMPANY MATCH PLAN SUMMARY PLAN DESCRIPTION SAVE MART 401(K) COMPANY MATCH PLAN SUMMARY PLAN DESCRIPTION DATED: April 2013 #12568514 TABLE OF CONTENTS Page INTRODUCTION... 1 1. Who is Eligible?... 3 2. What Affiliated Employers Participate in the

More information

Distribution Form Subject to Joint & Survivor Annuity

Distribution Form Subject to Joint & Survivor Annuity Distribution Form Subject to Joint & Survivor Annuity Please refer to the Plan s Summary Plan Description (SPD) for reasons distributions that are allowed in your plan. You may review the SPD, your account

More information

SUMMARY PLAN DESCRIPTION. C. R. England, Inc. Profit Sharing

SUMMARY PLAN DESCRIPTION. C. R. England, Inc. Profit Sharing SUMMARY PLAN DESCRIPTION C. R. England, Inc. Profit Sharing C. R. England, Inc. Profit Sharing SUMMARY PLAN DESCRIPTION...1 I.BASIC PLAN INFORMATION... 2 A. ACCOUNT... 2 B. BENEFICIARY...2 C. DEFERRAL

More information

SUMMARY PLAN DESCRIPTION

SUMMARY PLAN DESCRIPTION Qualified Retirement Plan SUMMARY PLAN DESCRIPTION 150838 Rev. 11/08 Qualified Retirement Plan and Trust Summary Plan Description TABLE OF CONTENTS INTRODUCTION...iii DEFINITIONS...1 Beneficiary...1 Catch-up

More information

Qualified Retirement Plan

Qualified Retirement Plan Qualified Retirement Plan SUMMARY PLAN DESCRIPTION 150838 02/13 This page intentionally left blank. Qualified Retirement Plan and Trust Summary Plan Description TABLE OF CONTENTS INTRODUCTION... iii DEFINITIONS...

More information

YALE UNIVERSITY RETIREMENT ACCOUNT PLAN SUMMARY PLAN DESCRIPTION

YALE UNIVERSITY RETIREMENT ACCOUNT PLAN SUMMARY PLAN DESCRIPTION YALE UNIVERSITY RETIREMENT ACCOUNT PLAN SUMMARY PLAN DESCRIPTION Effective January 1, 2015 Table of Contents Introduction...1 Definitions...2 Eligible Employee...5 Eligible Employees... 5 Excluded Employees...

More information

BE CONNECTED TO YOUR FUTURE. The Hearst Corporation Employee Savings Plan SUMMARY PLAN DESCRIPTION

BE CONNECTED TO YOUR FUTURE. The Hearst Corporation Employee Savings Plan SUMMARY PLAN DESCRIPTION BE CONNECTED TO YOUR FUTURE The Hearst Corporation Employee Savings Plan SUMMARY PLAN DESCRIPTION Contents THE HEARST CORPORATION EMPLOYEE SAVINGS PLAN...1 LIFE EVENTS AND THE SAVINGS PLAN...1 WHO IS ELIGIBLE...3

More information

401(k) Boot Camp Part 3 Getting Money Out of the Plan

401(k) Boot Camp Part 3 Getting Money Out of the Plan 401(k) Boot Camp Part 3 Getting Money Out of the Plan November 19, 2014 Presenter: Nancy J. Manary, Director Benefits Consulting Verisight, Inc. 401(k) Boot Camp Part 3 Part 1 Getting People Into the Plan

More information

COVENANT HEALTH 401(k) Plan

COVENANT HEALTH 401(k) Plan COVENANT HEALTH 401(k) Plan Summary Plan Description January 1, 2011 Covenant Health Corporate Benefits 1400 Centerpoint Blvd. Building A, Suite 209 Knoxville, Tennessee 37932 SUMMARY PLAN DESCRIPTION

More information

SUMMARY PLAN DESCRIPTION OF THE DREXEL UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN. (As Amended and Restated, Effective January 1, 2015)

SUMMARY PLAN DESCRIPTION OF THE DREXEL UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN. (As Amended and Restated, Effective January 1, 2015) SUMMARY PLAN DESCRIPTION OF THE DREXEL UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN (As Amended and Restated, Effective January 1, 2015) DMEAST #21067612 v1 TABLE OF CONTENTS Page I. INTRODUCTION...

More information

SPECIAL TAX NOTICE REGARDING PLAN PAYMENTS

SPECIAL TAX NOTICE REGARDING PLAN PAYMENTS SPECIAL TAX NOTICE REGARDING PLAN PAYMENTS This notice explains how you can continue to defer federal income tax on your retirement plan savings in the Plan and contains important information you will

More information

SUMMARY PLAN DESCRIPTION. Transamerican Auto Parts 401k plan

SUMMARY PLAN DESCRIPTION. Transamerican Auto Parts 401k plan SUMMARY PLAN DESCRIPTION Transamerican Auto Parts 401k plan Transamerican Auto Parts 401k plan SUMMARY PLAN DESCRIPTION...1 I. BASIC PLAN INFORMATION...2 A. ACCOUNT...2 B. BENEFICIARY...2 C. DEFERRAL CONTRIBUTION...2

More information

ASA INSTITUTE OF BUSINESS & COMPUTER TECHNOLOGY, INC. 401(K) PROFIT SHARING PLAN SUMMARY PLAN DESCRIPTION

ASA INSTITUTE OF BUSINESS & COMPUTER TECHNOLOGY, INC. 401(K) PROFIT SHARING PLAN SUMMARY PLAN DESCRIPTION ASA INSTITUTE OF BUSINESS & COMPUTER TECHNOLOGY, INC. 401(K) PROFIT SHARING PLAN SUMMARY PLAN DESCRIPTION January 1, 2015 ASA INSTITUTE OF BUSINESS & COMPUTER TECHNOLOGY, INC. 401(K) PROFIT SHARING PLAN

More information

401(k) Retirement Savings Plan Summary Plan Description

401(k) Retirement Savings Plan Summary Plan Description Livonia, Michigan 401(k) Retirement Savings Plan Summary Plan Description This booklet is a Summary Plan Description (SPD) and summarizes the important information contained in the Trinity Health 401(k)

More information

A SUMMARY PLAN DESCRIPTION OF BOSQUE SCHOOL DEFINED CONTRIBUTION RETIREMENT PLAN PREPARED BY:

A SUMMARY PLAN DESCRIPTION OF BOSQUE SCHOOL DEFINED CONTRIBUTION RETIREMENT PLAN PREPARED BY: A SUMMARY PLAN DESCRIPTION OF BOSQUE SCHOOL DEFINED CONTRIBUTION RETIREMENT PLAN PREPARED BY: Modrall Sperling Roehl Harris & Sisk, P.A. P.O. Box 2168 Albuquerque, New Mexico 87103 (505) 848-1800 JANUARY

More information

Summary Plan Description for the Glatfelter 401(k) Savings Plan. Salaried and Non-union Hourly Employees

Summary Plan Description for the Glatfelter 401(k) Savings Plan. Salaried and Non-union Hourly Employees Summary Plan Description for the Glatfelter 401(k) Savings Plan Salaried and Non-union Hourly Employees Effective January 1, 2011 Overview This document is the Summary Plan Description (SPD) of the Glatfelter

More information

SUMMARY PLAN DESCRIPTION. Petco Animal Supplies, Inc. 401k Plan

SUMMARY PLAN DESCRIPTION. Petco Animal Supplies, Inc. 401k Plan SUMMARY PLAN DESCRIPTION Petco Animal Supplies, Inc. 401k Plan Petco Animal Supplies, Inc. 401k Plan SUMMARY PLAN DESCRIPTION...1 I. BASIC PLAN INFORMATION...2 A. ACCOUNT...2 B. BENEFICIARY...2 C. DEFERRAL

More information

Summary Plan Description

Summary Plan Description Summary Plan Description Prepared for SURA/Jefferson Science Associates 401(k) Plan January 1, 2009 ATLANTA:5088237.2 SURA 12/01/2010 SUMMARY OF MATERIAL MODIFICATIONS December 31, 2010 SURA/JEFFERSON

More information

Retirement Plan Of CITGO Petroleum Corporation And Participating Subsidiary Companies. Summary Plan Description As in effect January 1, 2012

Retirement Plan Of CITGO Petroleum Corporation And Participating Subsidiary Companies. Summary Plan Description As in effect January 1, 2012 Of CITGO Petroleum Corporation And Participating Subsidiary Companies Summary Plan Description As in effect January 1, 2012 01/2012 In the event of any conflict between this Summary Plan Description and

More information

SUMMARY PLAN DESCRIPTION. Jones Truck & Spring Repair, Inc. / The Jones Fuel Company 401(k) Plan

SUMMARY PLAN DESCRIPTION. Jones Truck & Spring Repair, Inc. / The Jones Fuel Company 401(k) Plan SUMMARY PLAN DESCRIPTION Jones Truck & Spring Repair, Inc. / The Jones Fuel Company 401(k) Plan Jones Truck & Spring Repair, Inc. / The Jones Fuel Company 401(k) Plan SUMMARY PLAN DESCRIPTION...1 I. BASIC

More information

VISA 401k PLAN SUMMARY PLAN DESCRIPTION January 1, 2014. Table of Contents

VISA 401k PLAN SUMMARY PLAN DESCRIPTION January 1, 2014. Table of Contents PLAN HIGHLIGHTS How the Visa 401k Plan Works Eligibility Requirements Enrolling in the Plan Naming Your Beneficiary CONTRIBUTIONS TO THE PLAN VISA 401k PLAN SUMMARY PLAN DESCRIPTION January 1, 2014 Table

More information

SAVE MART 401(K) PLAN SUMMARY PLAN DESCRIPTION

SAVE MART 401(K) PLAN SUMMARY PLAN DESCRIPTION SAVE MART 401(K) PLAN SUMMARY PLAN DESCRIPTION DATED: April 2013 TABLE OF CONTENTS Page INTRODUCTION... 1 1. Who is Eligible?... 2 2. What Affiliated Employers Participate in the Plan?... 2 3. When does

More information

NOTICE OF HARDSHIP WITHDRAWAL

NOTICE OF HARDSHIP WITHDRAWAL NOTICE OF HARDSHIP WITHDRAWAL The current Plan provides that certain amounts may be withdrawn if you have a financial hardship. This hardship distribution is not in addition to your other benefits and

More information

CHAPMAN UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN

CHAPMAN UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN CHAPMAN UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN Summary Plan Description This document is a summary of the provisions of Chapman University Defined Contribution Retirement Plan (the Plan ) as in

More information

SUMMARY PLAN DESCRIPTION. for. BRISTOL BAY NATIVE CORPORATION 401(k) SAVINGS PLAN

SUMMARY PLAN DESCRIPTION. for. BRISTOL BAY NATIVE CORPORATION 401(k) SAVINGS PLAN SUMMARY PLAN DESCRIPTION for BRISTOL BAY NATIVE CORPORATION 401(k) SAVINGS PLAN July 1, 2013 TABLE OF CONTENTS Page 1. Plan Sponsor... 3 2. Plan Name... 3 3. Plan Number... 3 4. Type of Plan... 3 5. Plan

More information

DENNY S 401(k) PLAN SUMMARY PLAN DESCRIPTION

DENNY S 401(k) PLAN SUMMARY PLAN DESCRIPTION DENNY S 401(k) PLAN SUMMARY PLAN DESCRIPTION Effective January 1, 2012 PLEASE READ THIS BOOKLET CAREFULLY AND KEEP FOR FUTURE REFERENCE INTRODUCTION Denny s Corporation (the Plan Sponsor ) sponsors the

More information

Summary Plan Description

Summary Plan Description Adobe Systems Incorporated 401(k) Retirement Savings Plan #096204 Summary Plan Description Prepared for Adobe Systems Incorporated 401(k) Retirement Savings Plan Effective January 1, 2013 INTRODUCTION

More information

Summary Plan Description. The University of Chicago Contributory Retirement Plan

Summary Plan Description. The University of Chicago Contributory Retirement Plan The University of Chicago Contributory Retirement Plan ( CRP ) Summary Plan Description July 2005 The University of Chicago Contributory Retirement Plan Table of Contents Your CRP Benefits... 1 CRP Highlights...

More information

Accessing Funds. This section contains information to help you process participant requests for funds through: Loans. Hardship withdrawals

Accessing Funds. This section contains information to help you process participant requests for funds through: Loans. Hardship withdrawals Accessing Funds This section contains information to help you process participant requests for funds through: Loans Hardship withdrawals Distributions Death benefits In This Section See Page Loans... 58

More information