a. POC/deferred comp amendmnt - Laserfiche WebLink

NATIONAL ASSOCIATION OF COUNTIES DEFERRED COMPENSATION PROGRAM TIlE DEFERRED COMPENSATION PLAN FOR PUBLIC EMPLOYERS LOANS TO PARTICII~ANTS AMENDMENT TO PLAN DOCUMENT WItEREAS, PLAN SPONSOR executed the above referenced Plan Document, as amended: and WHEREAS, effective the plan document. PLAN SPONSOR now desires to further amend %'he fullowmg Section 8.06 is hereby added: 8.06 Loans to PARTICIPANTS (a) PLAN SPONSOR has elected to make loans available to PARTICIPANTS and has delegated certain administrative duties regarding loans irom the PLAN to the ADMINIST~TOR. (b) Any loan by the PLAN to a PARTICIPANT under this Section shall be subject to the loan administrative procedures established by the ADMTNISTRATOR as well as the fullowi~g requirements: (i) Loan Eligibility. Any PARTtCJPANT may apply for loan under the PLAN. A PARTICIPANT who has defaulted on a previous loan from the PLAN shall not be eligible for another loan from the PLAN until all defaulted loans are repaid m f~ll, J2cluding accrued interest and fees. (ii) Loan Application and Loan Agreement. A PARTICIPANT must complete and return to ADMTNISTRATOR a loan application. A non- refundable appiicatio~ fcc established by ADMINISTRATOR will be deducted from the PARTICIPANT'S ACCOUNT(s) at thc fzmc of loan origination. Before a loan is issued, the PARTICIPANT must enter htto a legally enibrceable loan agreement as provided for by the ADMINISTATOR, (iii) Loan Repayment. The PARTICIPANT receiving a loan shall be required to furnish to ADMTNISTKATOR any infurmation mhd authorization necessary to effectuate repayment of the loan prior to the commencement of a loan. ~ the event that a payment cmmot be processed because of lack of suilicient funds, the ADMINISTRATOR shall assess an insufficient funds charge which will be deducted from the PARTICIPANT'S ACCOUNT(s).