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2022-202
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Last modified
10/31/2022 12:05:16 PM
Creation date
10/31/2022 11:56:24 AM
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Template:
Official Documents
Official Document Type
Plan
Approved Date
10/11/2022
Control Number
2022-202
Agenda Item Number
8.C.
Entity Name
Lincoln Financial Group and Trust Company
Subject
Deferred Compensation Plan and Trust. Effective date September 29, 2022
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2.8 Leave of Absence <br />Unless an election is otherwise revised, if a Participant is absent from work by leave of absence, <br />Annual Deferrals under the Plan shall continue to the extent that Compensation continues. <br />2.9 Disability <br />A disabled Participant (as determined by the Administrator) may elect Annual Deferrals during <br />any portion of the period of his or her disability to the extent that he or she has actual <br />Compensation (not imputed Compensation and not disability benefits) from which to make <br />contributions to the Plan and has not had a Severance from Employment. <br />2.10 Protection of Persons Who Serve in a Uniformed Service <br />An Employee whose employment is interrupted by qualified military service under Code Section <br />414(u) or who is on a leave of absence for qualified military service under Code Section 414(u) <br />may elect to make additional Annual Deferrals upon resumption of employment with the <br />Employer equal to the maximum Annual Deferrals that the Employee could have elected during <br />that period if the Employee's employment with the Employer had continued (at the same level of <br />Compensation) without the interruption or leave, reduced by the Annual Deferrals, if any, <br />actually made for the Employee during the period of the interruption or leave. This right applies <br />for five years following the resumption of employment (or, if sooner, for a period equal to three <br />times the period of the interruption or leave). <br />A reemployed Employee shall also be entitled to an allocation of any additional Employer <br />Contributions, if applicable, that such Employee would have received under the Plan had the <br />Employee continued to be employed as an eligible Employee during the period of qualified <br />military service. Such restorative Employer Contributions (without interest), if applicable, shall <br />be remitted by the Employer to the Plan on behalf of the Employee within 90 days after the date <br />of the Employee's reemployment or, if later, as of the date the contributions are otherwise due for <br />the year in which the applicable qualified military service was performed. <br />2.11 Corrective Measures <br />In the event that an otherwise eligible Employee is erroneously omitted from Plan participation, <br />or an otherwise ineligible individual is erroneously included in the Plan, the Employer shall take <br />such corrective measures as may be permitted by applicable law. Such measures may include, in <br />the case of an erroneously omitted Employee, contributions made by the Employer to the Plan on <br />behalf of such Employee equal to the missed deferral opportunity, subject to the Participant's <br />contribution limits in Section III, and, in the case of an erroneously included individual, a <br />payment by the Employer to such individual of additional Compensation in an amount equal to <br />the amount of the individual's elective deferrals under the Plan. <br />2.12 Vesting of Account Balance <br />A Participant's vested interest in his Account Balance shall be at all times 100%. <br />8 <br />Specimen 457(b) Plan Document <br />Deferred Compensation Plan <br />
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