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Florida Municipal Pension Trust Fund 457 (b) Deferred Compensation Plan 3 . Definitions Whenever used in the Plan, each of the following terns has the meaning stated or provided by this Part . If a term is not defined by this Part and is defined by the Internal Revenue Code or the Enabling Statute or relevant Investment Law , the term has the meaning given by the Internal Revenue Code or the Enabling Statute or relevant Investment Law . 3 . 1 "Account" means the bookkeeping Account (including each sub -Account) maintained for each Participant (or Beneficiary or Alternate Payee) which at all times shows : the amount of the Participant ' s Deferred Compensation (including any income or loss attributable to the investment of the Participant ' s Deferred Compensation) ; any amounts accepted as a transfer under Provision 5 . 2 [ "Acceptance of transfers "] ; any Distributions to the Participant , and any Fees or expenses charged against the Participant ' s Deferred Compensation . "Account" also may refer to each of the sub - Accounts . The Account balance is the total amount or value of the Account (or sub -Account as applicable) reduced by any security interest held by the Issuer(s) or by the Master Trustee for an outstanding loan and reduced by any applicable Investment Fees , charges , expenses , and taxes and any Master Trust Fees , charges , expenses , and taxes . To the extent that the Participant ' s Deferred Compensation is held in (and Distributions and Fees or expenses are charged against) an Allocated Investment(s) , the value of the Participant ' s Account is the value of the applicable sub-Account( s ) under the Investment( s ) . To the extent necessary to administer the Plan , the Plan Administrator shall keep a separate sub -Account to receive each kind of Contributions (and attributable interest or investment earnings) . However, the Plan Administrator, in its sole discretion, may combine any sub -Accounts if so doing does not impair the Plan Administrator ' s ability to operate this Plan according to its provisions . The Participant shall receive (until a Retirement Distribution begins ) periodic Account reports in the form prescribed by the Plan Administrator. If the Participant (or Beneficiary) elects more than one Distribution Commencement Date , the Plan Administrator shall maintain a separate account with respect to the portion of the Account to be applied as of each Distribution Commencement Date . To the extent required by a Plan- approved Domestic Relations Order, the Plan Administrator shall maintain a separate sub -Account for the Alternate Payee . Florida Municipal Pension Trust Fund Florida League of Cities, Inc . Page 6 02i 01 /2009