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the company intends that the plan shall at all times be administered and interpreted in such a manner as to constitute an unfunded plan for a select group of management and highly compensated employees who contribute materially to the continued growth of the company, so as to qualify for all available exemptions from the provisions of title i of erisa. in the event of a participant’s retirement, disability, death or a termination of employment prior to the end of a plan year, such year’s annual deferral amount shall be the actual amount withheld prior to such event. a written notice filed by a participant with the plan administrator, specifying the amount of the participant’s base annual salary and/or annual bonus to be deferred. a written notice filed by a participant with the plan administrator, specifying the allocation of the participant’s annual deferral amount and the annual company matching amount that is to be deferred under the plan among the investment options provided under the plan. notwithstanding the foregoing, if a participant first becomes a participant after the first day of a plan year, or in the case of the first plan year of the plan itself, the annual deferral amount shall be an amount equal to the minimum amount set forth in accordance with section 3.1, multiplied by a fraction, the numerator of which is the number of completed months remaining in the plan year and the denominator of which is 12. a participant’s annual company matching amount for any plan year shall be equal to 1% of the participant’s annual deferral amount for such plan year. notwithstanding any other provision of this plan that may be interpreted to the contrary, the investment options are to be used for measurement purposes only, and a participant’s election of any investment option(s), the allocation to his or her account balance thereto, the calculation of additional amounts and the crediting or debiting of such amounts to a participant’s account balance shall not be considered or construed in any manner as an actual investment of his or her account balance in any such investment option.
the death benefit payable under this section shall be distributed to the participant’s beneficiary in accordance with the provisions of section 6.1 and 6.2 as if the participant had retired on the date of his or her death, in accordance with the last beneficiary designation received by the plan administrator from the participant prior to his or her death. such continuing payments shall be made to the participant’s designated beneficiary in accordance with the last such designation received by the plan administrator from the participant prior to his or her death. no designation or change in designation of a beneficiary shall be effective until received and acknowledged in writing by the plan administrator. the plan administrator may rely upon the correctness of all such information as is so supplied and shall have no duty or responsibility to verify such information. the plan administrator shall determine, in its sole discretion, whether, and if so, to what extent, contributions made to the plan on behalf of a participant shall be invested in the funds selected by such participant. (a) payments to the participant or any beneficiary hereunder shall be made from assets which shall continue, for all purposes, to be part of the general, unrestricted assets of the company no person shall have any interest in any such asset by virtue of any provision of this plan. no such amounts shall be subject to seizure by any creditor of any such participant or beneficiary, by a proceeding at law or in equity, nor shall such amounts be transferable by operation of law in the event of bankruptcy, insolvency or death of the participant or beneficiary. any notice, consent or demand required or permitted to be given under the provisions of this plan shall be in writing, and shall be signed by the party giving or making the same.
deferred compensation plan. effective as of ______ ___, _____. this sample is provided for general information a deferred compensation plan may permit management, highly compensated employees or directors to elect to defer a nonqualified deferred compensation plan is an unfunded plan that may be: (i) an “excess benefit plan” under erisa , types of deferred compensation plans, types of deferred compensation plans, nonqualified deferred compensation plan, deferred compensation letter, deferred compensation accounting.
deferred compensation plans can help certain employees save for retirement. what types are the lump-sum owed to an employee in this type of plan is paid out on that date. examples of deferred compensation plans deferred compensation plans give higher earners a way to save more money for retirement. for example, at age 55 and earning $250,000 a year, an individual might choose to defer $50,000 of , 409a deferred compensation plan, nonqualified deferred compensation plan distributions, nonqualified deferred compensation plan distributions, nonqualified deferred compensation plan tax treatment, payroll taxes deferred compensation
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