Laserfiche WebLink
<br />(0) PARTICIPATION AGREEMENT means the application to enroll and participate in the Plan <br />that is completed by the Public Employee and provided to the Administrator. The Participation <br />Agreement form for this purpose shall be provided by the Administrator and will have no effect <br />until it is signed, f1led with the Administrator by the Participant, and accepted by the <br />Administrator prior to the Participant's death. <br /> <br />(P) PLAN means the Plan for Public Employees as set forth in this plan document and as it may be <br />amended from time to time. <br /> <br />(q) PLAN SPONSOR means the county, municipality, or other instrumentality of the State, which <br />is an eligible governmental employer pursuant to IRC Section 457(e)(1), for which services are <br />performed by Public Employees, and which participates in this Plan. <br /> <br />(r) PLAN YEAR means the calendar year in which the Plan becomes effective, and each <br />succeeding calendar year during the existence of the Plan. <br /> <br />(s) PUBLIC EMPLOYEE means any person who receives any type of Compensation from the <br />Plan Sponsor for services rendered to the Plan Sponsor (including, but not limited to, elected or <br />appointed officials and salaried employees). <br /> <br />(t) SEVERANCE FROM EMPLOYMENT means the date on which the Participant dies, retires <br />or otherwise has a Severance from Employment with the Plan Sponsor. An Independent <br />Contractor is considered to have a Severance from Employment with the Plan Sponsor upon the <br />expiration of the contract (or in the case of more than one contract, all contracts) under which <br />services are performed for the Plan Sponsor if the expiration constitutes a good-faith and <br />complete termination of the contractual relationship. An Independent Contractor shall not be <br />considered Severed from Employment with the Plan Sponsor, and shall not receive any benefits <br />hereunder unless (i) at least 12 months have expired since the date on which the last contract <br />pursuant to which the Independent Contractor provided any services to the Plan Sponsor was <br />terminated, and (ii) the Independent Contractor has performed no services for the Plan Sponsor <br />during the 12-month period referred to herein either as an Independent Contractor or Public <br />Employee. <br /> <br />(u) SPOUSE means a person of the opposite sex who is a husband or wife, as defined under Title <br />28, Chapter 15, Section 1738 of the United States Code. <br /> <br />(v) VALUATION DATE means each business day/the last day of the calendar month/the last day <br />of the calendar quarter/each December 31. <br /> <br />1.02 Gender and Plurals. Whenever used herein, the masculine gender shall include the feminine and <br />the singular shall include the plural unless the provisions of the Plan specifically require a different <br />construction. <br /> <br />ARTICLE II <br />Election to Defer Compensation <br /> <br />2.01 Eligibility to Participate. Each Public Employee shall be eligible to participate in the Plan and <br />defer Compensation hereunder immediately upon becoming employed by the Plan Sponsor. <br /> <br />2.02 Election Required for Participation. A Public Employee may elect to become a Participant by <br />executing a Participation Agreement and consenting to defer a portion of his Compensation by a <br /> <br />@ Nationwide Retirement Solutions, Inc. 3 <br />Consolidated Standard 457 Plan <br />Amended and Restated 457(b) Governmental Plan Document <br />November 11, 2005 <br />