§ 1-9-2 PLAN ELECTIONS.

   (A)   Plan effective date. This Plan amends and restates the Plan previously established by the employer and is effective November 1, 2005. The Plan was originally established by the employer effective May 1, 2001.

   (B)   Unforeseeable emergency withdrawals. Withdrawals under § 1-9-7(G) shall be available under this Plan.

   (C)   Participant’s election to receive in-service distribution. A participant may elect to receive an in-service distribution of his or her account balance as described in § 1-9-7(I). Yes, if the total amount payable to a participant under the Plan does not exceed the dollar amount under § 411(a)(11)(A) of the Code (currently $5,000).

   (D)   Distribution without participant’s consent. Small accounts of certain inactive participants may be distributed without the participant’s consent as described in § 1-9-7(J). No, § 1-9-7(J) shall not apply to this Plan.

   (E)   Loans. No, loans are not allowed and § 1-9-10 shall not apply to this Plan.

   (F)   Governing law. This Plan shall be construed under the laws of the state. This Plan shall be subject to any applicable state, county, or local deferred compensation rules and regulations.

(Ord. 05-11, passed 10-18-2005)