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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 /> • if the amount of the Distribution is greater than a uniform amount established by the <br /> Plan Sponsor, appropriate assurance ( including a Signature Guarantee) that the <br /> Participant ' s or Beneficiary ' s signature is genuine ; and <br /> • any other evidence or information that the Plan Sponsor finds is relevant to administer a <br /> provision of the Plan in the Participant ' s or Beneficiary ' s and the Distributee ' s <br /> circumstances . <br /> Absent contrary evidence actually known to the Plan Sponsor, an appropriate death <br /> certificate or a court order stating that the Participant is found to be absent and <br /> presumed dead shall constitute appropriate evidence of the Participant ' s death . <br /> If the Distributee fails to submit proper instructions , the Plan Sponsor may , at its <br /> discretion , deny the claim ; or may determine which Plan Investment( s) and <br /> investment options are to be charged . <br /> 15 . 2 Time for Distribution <br /> The Plan Sponsor may require for payment of any Distribution a minimum advance <br /> notice , uniformly determined and consistently applied . In addition to the above , no <br /> payment can be made before the Distribution Commencement Date . <br /> 15 .3 Plan Sponsor to approve <br /> Payments shall not begin until the Plan Sponsor has approved : the Distribution, and the <br /> claim for payment, and the Payout Option as satisfying the provisions of the Plan . <br /> 15 .4 Payout Option <br /> The election of a Payout Option by a Participant or a Beneficiary must be made no later <br /> than thirty ( 30) days before the commencement of such benefits . Subject to restrictions <br /> established by the Plan Sponsor, the Plan shall permit payout options in the form of lump <br /> sums , periodic payments of a fixed amount or fixed duration , or life contingent annuities . <br /> Absent such election , the Account will be paid in a lump sum . <br /> 15 . 5 Payor may rely on apparent entitlement <br /> The Participating Employer and the Plan Administrator and the Master Trustee and the <br /> Issuer and the Agent [ a "payor"] are not liable for having made a payment under an <br /> unclear Beneficiary designation or Participation Agreement to a person not entitled to the <br /> payment , or for having taken or omitted any other action in good faith reliance on a <br /> person ' s apparent entitlement under the Plan, before the payor actually received written <br /> notice of a claimed lack of entitlement under this Plan . <br /> Any payor of any Distribution is not liable for having made a payment or having transferred <br /> an item of property to a beneficiary designated in a beneficiary designation (or in a similar <br /> writing reasonably believed to constitute a beneficiary designation) who is not entitled to the <br /> Distribution, or for having taken any other action in good faith reliance on the beneficiary ' s <br /> Florida Municipal Pension Trust Fund <br /> Florida League of Cities, Inc . <br /> Page 41 <br /> 02,101 /2009 <br />
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