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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 /> 9 .4 Giving effect to a Plan -approved Domestic Relations Order <br /> If the Plan Sponsor determines that an order is a Plan -approved Domestic Relations Order, <br /> the Plan Sponsor shall instruct the Plan Administrator to instruct the Issuer to cause the <br /> payment of amounts pursuant to or segregate a separate sub-Account as provided by (and to <br /> prevent any payment or act which might be inconsistent with) the Plan-approved Domestic <br /> Relations Order. <br /> 9 . 5 Domestic relations proceeding <br /> Each of the Participating Employer and the Master Trustee and the Plan Administrator <br /> and the Agent and each Issuer and any person serving under contract or otherwise with <br /> respect to the Plan shall not be obligated to incur any cost to defend against or set aside <br /> any judgment, decree, or order relating to the division, attachment, garnishment, or <br /> execution of or levy upon the Participant ' s Plan Account or any Distribution including <br /> (but not limited to) any domestic relations proceeding . Notwithstanding the foregoing , if <br /> any such person is joined in any proceeding , the party may take such action as it <br /> considers necessary or appropriate to protect any and all of its legal rights , and the <br /> Participant ( or Beneficiary) shall reimburse all actual fees of lawyers and legal assistants <br /> and expenses reasonably incurred by such party . <br /> 10 . Permitted Distribution <br /> 10 . 1 Permitted Distribution for inactive Participant <br /> Consistent with IRC § 457 ( e) ( 9) (A) , a Participant (but not a Beneficiary or Alternate <br /> Payee) may elect to receive a Permitted Distribution if the Participant ' s Account does not <br /> exceed the amount described in IRC § 457 ( e ) ( 9) (A) and the Participant has not made and <br /> the Participant ' s Account has not received any Contributions during the two -year period <br /> that ends on the date of the Permitted Distribution and the Participant has not previously <br /> received any Permitted Distribution under this Plan . <br /> 10. 2 Permitted Distribution paid as a lump sum <br /> A Permitted Distribution shall be payable only as a lump sum . <br /> 11 . Hardship Distribution <br /> 11 . 1 Hardship Distribution <br /> If, before his or her Severance , or after his or her Severance and after he or she has made <br /> an irrevocable election of his or her Distribution Commencement Date but before his or <br /> her Distribution Commencement Date , the Participant has an unforeseeable emergency <br /> Florida Municipal Pension Trust Fund <br /> Florida League of Cities, Inc . <br /> Page 35 <br /> 02,101 /2009 <br />
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