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Florida Municipal Pension Trust Fund A 'SWM Deferred Compensation Plan interested person. Any Deferred Compensation disclaimed shall be payable as if the Beneficiary who submitted the disclaimer died before the Participant. 15 . 15 Receipt and release Any Distribution or payment or any agreement to make a payment(s) , or any transfer of Deferred Compensation to another eligible deferred compensation plan , shall , to the extent of the Distribution or payment( s) or the agreement, be in full satisfaction of all claims . The Plan Sponsor, in its sole discretion, may require any Distributee or payee , as a condition precedent to making or causing to be made any payment( s ) or agreement , to execute a receipt and release . 15 . 16 Direct Rollover of Distribution Consistent with IRC § 457 (d ) ( 1 ) (C ) and IRC § 457 (e) ( 16) , a Participant may elect (in the form prescribed by the Plan Administrator) a direct rollover of an eligible rollover distribution . 16 . Plan Sponsor and Plan Administrator 16. 1 Plan Sponsor has full authority The Plan Sponsor has full and complete authority and discretion to control and manage the operation of and shall decide all matters under the Plan. The Plan Sponsor has any and all powers as may be necessary or advisable to discharge its duties under the Plan , and has complete discretionary authority to decide all matters and questions under the Plan . The Plan Sponsor and Plan Administrator do not have any duties concerning the selection of Investments . 16 . 2 Plan Sponsor must decide all matters The Plan Sponsor must decide all matters under the Plan. The discretionary decisions of the Plan Sponsor are final , binding, and conclusive on all interested persons for all purposes . Without limiting the comprehensive effect of the above , the Plan Sponsor ' s discretionary decisions may include, but shall not be limited to , any decision as to : whether a natural person is an Employee, whether an Employee belongs to a particular employment classification, whether an Employee is an eligible Employee , the amount of a Participant ' s Compensation, the amount of Contributions to be made , whether an amount of Contributions exceeds the limits prescribed by the Plan , whether a court order shall be recognized , whether a Participant (or any other person) has established the presence or absence of a Spouse , whether a Payout Option is an Annuity Payout Option , whether a Participant has incurred an unforeseeable emergency , whether a Participant has a Severance, whether a Beneficiary Designation is valid or effective , who is the proper Beneficiary, whether a Participant or Beneficiary is a minor or is of full age , whether a Participant or Beneficiary is an Florida Municipal Pension Trust Fund Florida League of Cities, Inc . Page 46 02/01 /2009