a. POC/deferred comp amendmnt - Laserfiche WebLink

NATIONAL ASSOCIATION OF COUNTIES DEFERRED COMPENSATION PROGRAM PARTICIPANT LOAN ADMINISTRATIVE PROCEDURES Nationwide Retirement Solutions, Inc. ("NRS"), as Third Pauly Administrator of the National Association of Counties Deferred Compensation Program, administers your Deferred Compensation Plan for Public Employees ("Plan"). Recently issued proposed regulations under Internal Revenue Coda Section 457 , provide that eligible governmental 457(b) plans may permit loans to Participanls. NRS recommends that you, as Plan Sponsor and/or Employer (hereinafter collectively referred to as "Plan Sponso?'), consult with your own legal advisor in determining whether you wish Io add this optional feature to your Plan. ]n the event that you decide to offer loans from your Plan to Padicipants, you will need to return to NRS at Nationwide Retirement Solutions, PO Box 182797, Columbus, OH 43218-2797, At[n: Loans Administrator a f~[ly executed original of this document and a fully executed original of the enclosed Plan Document Amendment, NRS cannot begin processing Participant loans from your Plan until it receives fully executed originals of both of these documents. NRS may need from time-to-time to make changes to the administrative procedures set forth herein and in the Plan Document Amendment. in such a case, NRS will provide you with timely notice of such changes as they become necessary· The following administrative procedures shall govern the making of loans from your Plan: 1. Loan Administration. Plan Sponsor delegates to NRS ceKain administrative duties regarding the ~¢ministration of loans fi'om the Plan, which are set forth herein and which may be modified by NRS upon timely notice to Plan Sponsor. 2. Loan Eligibility. Any Plan Participant is eligible for a loan from the Plan. Each Participant is entitled to one (1) loan at any time. ]n addition, a Participant who has defauIted on a previous loan shalI not be eligible for another loan from the Plan until all defaulted loans are repaid in full, including accrued interest and fees, 3. Loan Application and Loan Agreement· ]n order to receive a loan from the Plan; an eligible Par[icipant must complete a loan application and return it to NRS. A loan application fee of $50.00* will be deducted from the Paddcipant's account(s). Before a loan is issued, the Participant must enter into a Iegally enforceable loan agreement as provided by NRS. If the source for a single loan includes both the Participant's Deferred Compensation and Eligible Reliever Accounts, the Participant will be required to complete a loan application and loan agreement for each account which wiIl be treated as separate and distinct for all purposes herein except that they will be considered a single loan for purposes of Sections 2, 8, and fO herein. 4. Loan RepaymentJMaximum Loan Term. Repayment of any loan made to a Participant shall be made in a manner and pursuant to the terms set forth in ioan agreement. The Participan~ receiving a loan shall be required to furnish the information and authQdzafion necessaFy to effectuate the foregoing payments prior to the commencement of a loan. The maximum term over which a loan may be repaid is five (5) years (Effeen (15) years if the Plan Sponsor permits loans for the purchase of the Participant's principal residence). tn the event that a Participant or his or her Beneficiaw or spouse elects to receive a distribution from the Pla8 (other than a distribufior~ due to an unforeseeable emergency or other in-service withdrawal) at a time