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Flonda Municipal Pension Trust Fund <br /> 457(b) Deferred Compensation Plan <br /> 1 . Establishment and purpose of the Plan <br /> 1 . 1 Purpose of the Plan <br /> The purpose of the Plan is to provide Employees with a convenient way to save for <br /> retirement . Under the Plan , Deferred Compensation is held until paid to the Participant <br /> or to his or her Beneficiary(s) according to the provisions of the Plan . With limited <br /> exceptions , a Distribution can become available only after the Participant ' s death or <br /> Severance . <br /> 1 . 2 Establishment of the Plan <br /> This document together with the Participating Employer ' s Adoption Agreement states the <br /> provisions of this eligible deferred compensation Plan established and maintained by the <br /> Participating Employer(s) . <br /> 1 .3 Previous plan replaced <br /> To the extent of the Participating Employer ' s participation in the Florida Municipal Pension <br /> Trust Fund 457 (b ) Deferred Compensation Plan, this Plan shall amend and restate any <br /> similar plan previously in effect . The restated Plan is effective as of the Restatement Date, <br /> except as otherwise specified by this Plan and the Adoption Agreement . <br /> 1 . 4 Eligible Plan <br /> The Participating Employer intends to (but is not obligated to) maintain the Plan as a plan <br /> that is an eligible deferred compensation plan within the meaning of IRC § 457 (b) . <br /> 1 . 5 Individual account plan <br /> The Plan is an individual account plan that provides for an individual Account for each <br /> Participant and for Deferred Compensation based solely upon the amount of Contributions , <br /> income, dividends , interest, gains ( or losses) , and Fees and expenses credited to or charged <br /> against the Participant ' s Account. <br /> 1 . 6 Master Trust <br /> means the trust created and maintained by the Master Trust Agreement. <br /> 1 . 7 Exclusive benefit <br /> The Plan is established for the exclusive benefit of Participants and their Beneficiaries . <br /> All assets and income of the Plan shall be held for the exclusive benefit of the Plan ' s <br /> Participants and their Beneficiaries . <br /> Florida Municipal Pension Trust Fund <br /> Florida League of Cities, Inc . <br /> Page 3 <br /> 02; 01 /2009 <br />