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Florida Municipal Pension Trust Fund <br /> 457( b) Deferred Compensation Plan <br /> 5 . 2 Acceptance of transfers <br /> The Participating Employer shall credit to a Participant ' s Account the amount transferred <br /> from another eligible deferred compensation plan (within the meaning of IRC § 457(b ) ) . <br /> Any transferred amount is not treated as Contributions subject to the limitation of <br /> Provision 5 . 1 , except for the amount of deferred compensation during the Participant ' s <br /> taxable year in which the transfer occurred which is treated as Deferred Compensation <br /> subject to the limitation of Provision 5 . 1 . <br /> 5 .3 Qualified governmental excess benefit arrangement <br /> Consistent with IRC § 457 ( e)( 14) , Provision 5 . 1 and IRC § 457 ( c) ( 2 ) shall not apply to <br /> any qualified excess benefit arrangement ( as defined by IRC § 415 (m) ( 3 )) , and benefits <br /> provided under such an arrangement shall not be taken into account in determining <br /> whether this Plan is an eligible deferred compensation plan . <br /> 5 .4 Corrective Distribution for excess deferrals <br /> A Corrective Distribution for excess elective deferrals shall be paid if the Participant <br /> designates (or the Participant is deemed to have notified the Plan Sponsor of) an amount of <br /> excess deferrals according to Provision 5 . 4 . 1 and the Distribution satisfies Provision 5 . 4 . 3 . <br /> 5 . 4. 1 Designation of excess deferrals <br /> The Participant shall designate excess deferrals by delivering to the Plan Sponsor a written <br /> claim in the form prescribed by the Plan Administrator that certifies and otherwise <br /> establishes to the satisfaction of the Plan Sponsor and the Plan Administrator an amount of <br /> excess deferrals . <br /> If the Plan Sponsor finds that the Participant has excess deferrals for the calendar Year <br /> calculated by taking into account only Contributions under this Plan and other plans of the <br /> same Participating Employer, the Participant is deemed to have notified the Plan Sponsor of <br /> the excess deferrals so determined, unless the Participant certifies that he or she has received <br /> a corrective distribution under another plan . <br /> 5 .4 . 2 Calculation of allocable income <br /> The income or loss allocable to excess deferrals shall be determined according to a <br /> reasonable method of allocating income or loss . For this purpose, the method described in <br /> Treasury Reg. § 1 .402(g)- 1 ( d)( 5 ) is deemed to be a reasonable method. <br /> 5 .4 .3 Amount to be distributed <br /> The amount to be distributed as a Corrective Distribution shall be the amount designated (or <br /> deemed designated) under Provision 5 .4 . 1 together with any allocable income determined <br /> under provision 5 . 4 . 2 . <br /> Florida Municipal Pension Trust Fund <br /> Florida League of Cities, Inc . <br /> Page 26 <br /> 02/01 /2009 <br />