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Florida Municipal Pension Trust Fund 457(b) Deferred Compensation Plan received on the next Business Day . Without limiting the comprehensive effect of the preceding sentence, any investment direction that includes an instruction to buy or sell registered investment company shares that is received after the closing of the NYSE shall be treated as received on the next Business Day . A day that is not a Business Day ends at 4 p . m . New York Time . 3 . 10 " Compensation " means the total wages , salaries , fees , and other amounts paid (except as modified below) during each Plan Year to the Employee by the Participating Employer for personal services actually rendered in the course of employment with the Participating Employer, including compensation payable as bonuses or as overtime , and excluding any compensation received in the form of non-taxable fringe benefits . Compensation shall include any amounts deferred as Employee Contributions under this Plan, and any amounts of compensation deferred as " elective deferrals" (within the meaning of IRC § 402 (g) ( 3 ) or similar provisions) under IRC § 1255 IRC § 401 (k) , or IRC § 402 (a) (8 ) . Compensation does not include any amount paid as Participating Employer-provided education assistance , notwithstanding that such payment may be taxable wages to the Participant . This definition of " Compensation" is not intended to control or affect the construction of the definition of "Includible Compensation" . However, for the purposes of computing any Contributions required or pennitted under Part 8 ["Reemployment after Uniformed Service " ] , the reemployed Participant ' s Compensation shall be as provided by Provision 8 . 4 . 3 . 11 " Confirmation " has the meaning given by applicable Investment Law . 3 . 12 " Contributions " means Employee Contributions and Transfer Contributions and (if any) Employer Contributions , deferred under the Plan according to the provisions of the Plan . Contributions under the Plan shall not be reduced because of the Participant ' s attainment of any age . Contributions shall be made according to the payroll methods of and at such times as may be determined by the Participating Employer, except as otherwise required by the Enabling Statute . 3 . 13 " Corrective Distribution " means a Distribution required or permitted to remedy a potential violation or correct a violation of any provision of Part 5 [ " Contribution limit" ] or under Provision 17 . 11 ["Mistaken contributions "] . Florida Municipal Pension Trust Fund Florida League of Cities, Inc . Page 12 o2%oii2oo9