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Florida Municipal Pension Trust Fund <br /> 457(b) Deferred Compensation Plan <br /> The Participating Employer or the Plan Administrator shall not be responsible to notify any <br /> Employee that he or she has become eligible to participate in the Plan . The Employee shall <br /> be responsible to know when he or she becomes eligible to participate in the Plan, and shall <br /> be responsible to take any action necessary to enroll in the Plan. The Participating Employer <br /> shall not be liable for any missed Contributions . <br /> 4. 5 Time for Contributions to begin <br /> Contributions will be deferred for any calendar month only if a Participation Agreement <br /> providing for the deferral has been entered into before the beginning of the month . <br /> 4 .6 Amendment of Participation Agreement <br /> Subject to all of the provisions of the Plan, a Participant may at any time amend his or her <br /> Participation Agreement to change : the amount of his or her Contributions , his or her <br /> investment direction ; his or her designated Beneficiary( s) . <br /> Unless the Participation Agreement specifies a later effective date, a change in the <br /> amount of Contributions shall take effect as of the next available pay period in the next <br /> calendar month . A change in the investment direction for Contributions shall take effect <br /> as of the next available pay period . A change in the Beneficiary designation shall take <br /> effect when the Participation Agreement is accepted by the Plan Sponsor or the Agent. <br /> 4 . 7 Leave of absence <br /> Unless his or her Participation Agreement is otherwise amended, if a Participant is absent <br /> from work by a leave of absence , Contributions under the Plan shall continue to the <br /> extent that compensation continues , or the Participation Agreement shall remain in effect <br /> and Contributions shall resume when the Participant returns to work . <br /> 4 . 8 Disability <br /> A disabled Participant may make Employee Contributions during any portion of the <br /> period of his or her disability to the extent that he or she has actual Compensation (not <br /> imputed compensation and not disability benefits ) from which to make Employee <br /> Contributions . <br /> 5 . Contribution limit <br /> 5 . 1 Deferral limit <br /> The maximum amount deferred for any Participant for any taxable year of the Participant <br /> shall not exceed the amount specified by IRC § 457 (b) (2 ) and, to the extent applicable , <br /> IRC § 457 (b) (3 ) or IRC § 414(v) . For the purpose of the preceding sentence, the amount <br /> deferred does not including a Transfer Contribution to the extent provided by <br /> Provision 5 . 2 and does not include any qualified excess benefit arrangement to the extent <br /> provided by Provision 5 . 3 . <br /> Florida Municipal Pension Trust Fund <br /> Florida League of Cities , Inc . <br /> Page 25 <br /> 02,'01 /2009 <br />