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Last modified
2/23/2016 2:19:28 PM
Creation date
10/1/2015 1:31:25 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
12/21/2010
Control Number
2010-320E
Agenda Item Number
12.G.5
Entity Name
Florida League of Cities
Subject
Deferred Compensation Plan Amended February 2009
Florida Municipal Pension Trust Fund 457 Deferred Compensation Plan
Supplemental fields
SmeadsoftID
9174
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Florida Municipal Pension Trust Fund <br /> 457(b) Deferred Compensation Plan <br /> • The court order clearly specifies the amount or percentage , or the manner in which the <br /> amount or percentage is to be determined, of the Participant ' s Account to be paid to <br /> segregated for the separate sub-Account of the Alternate Payee. <br /> • The court order expressly states that the Alternate Payee ' s segregated Account shall <br /> bear all Fees and expenses as though the Alternate Payee were a Participant. <br /> • The court order if made before January 1 , 2002 clearly specifies that any Distribution to <br /> the Alternate Payee becomes payable only after the Participant ' s death or Severance. <br /> • The court order clearly specifies that any Distribution to the Alternate Payee becomes <br /> payable only upon the Alternate Payee ' s written claim made to the Plan Sponsor or the <br /> Agent . <br /> • The court order clearly specifies that any Distribution to any Alternate Payee shall be <br /> payable only as a lump sum. <br /> • The court order expressly states that it does not require this Plan to provide any type or <br /> form of benefit or any option not otherwise provided under this Plan. <br /> • The court order expressly states that the order does not require this Plan to provide <br /> increased Deferred Compensation . <br /> • The court order expressly states that any provision of it that would have the effect of <br /> requiring any Distribution to an Alternate Payee of Deferred Compensation that is <br /> required to be paid to another person under any court order is void. <br /> • The court order expressly states that nothing in the order shall have any effect <br /> concerning any party ' s tax treatment, and that nothing in the order shall direct any <br /> person ' s tax reporting or withholding . <br /> An order shall not be a Plan-approved Domestic Relations Order if it includes any provision <br /> that does not relate to this Plan . Without limiting the comprehensive effect of the preceding <br /> sentence, an order shall not be a Plan-approved Domestic Relations Order if the order <br /> includes any provision relating to any pension plan, retirement plan, deferred compensation <br /> plan, health plan , welfare benefit plan , or employee benefit plan other than this Plan . <br /> An order shall not be a Plan-approved Domestic Relations Order unless the order provides <br /> for only one Alternate Payee . <br /> An order shall not be a Plan- approved Domestic Relations Order if the order includes any <br /> provision that would require the Plan Sponsor to calculate the amount to be segregated to the <br /> Alternate Payee ' s separate sub -Account in a manner not readily calculable by the Agent <br /> according to its currently available records and without regard to any records for any <br /> Florida Municipal Pension Trust Fund <br /> Florida League of Cities, Inc . <br /> Page 20 <br /> 02 '0 112 009 <br />
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