Exhibit 10.17
401K
ADOPTION AGREEMENT FOR
AETNA LIFE INSURANCE AND ANNUITY COMPANY
STANDARDIZED 401(K) PROFIT SHARING
PLAN AND TRUST
The undersigned Employer adopts the Aetna Life Insurance and Annuity
Company Sharing Plan for those Employees who shall qualify as Participants
hereunder, to be known as the
Al CommSource International Retirement Plan
(Enter Plan Name)
It shall be effective as of the date specified below. The Employer hereby
selects the following Plan specifications:
CAUTION: The failure to properly fill out this Adoption Agreement may
result in disqualification of the Plan.
EMPLOYER INFORMATION
B1 Name of Employer CommSource International
B2 Address 000 Xxxxxxxx Xxxx.
Xxxxxxx, XX 00000
Xxxx Xxxxx Zip
Telephone 000-000-0000
B3 Employer Identification Number 36 - 3693505
B4 Date Business Commenced 1/1/ 88
B5 TYPE OF ENTITY
a. S Corporation
b. Professional Service Corporation
c.[X]Corporation
d. Sole Proprietorship
e. Partnership
f. Other ____________________________
AND, is the Employer a member of...
g. a controlled group? Yes X No
h. an affiliated service group? Yes X No
0000-X Xxxxx Life Insurance and Annuity Company
B6 NAME(S) OF TRUSTEE(S) a. Xxxxxx Xxxxxxx
b.
C.
B7 TRUSTEES' ADDRESS a. X Use Employer Address
b.
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Xxxxxx Xxxx Xxxxx Xxx
000
X0 LOCATION OF EMPLOYER'S PRINCIPAL OFFICE:
a. state b.commonwealth of c. Illinois and this Plan and Trust shall be governed
under the same.
B9 EMPLOYER FISCAL YEAR means the 12 consecutive month period:
Commencing on a. 1 1 (e.g., January 1st)
month day
and ending on b. 12 31 .
month day
PLAN INFORMATION
C1 EFFECTIVE DATE
This Adoption Agreement of the Aetna Life Insurance and Annuity Company
Standardized 401(k) Profit Sharing Plan and Trust shall:
a. X establish a new Plan and Trust effective as of January 1, 1999
(hereinafter called the "Effective Date").
b. constitute an amendment and restatement in its entirety of a
previously established qualified Plan and Trust of the Employer
which was effective ____________ (hereinafter called the "Effective
Date"). Except as specifically provided in the Plan, the effective
date of this amendment and restatement is ______________ (For TRA
`86 amendments, enter the first day of the first Plan Year
beginning in 1989).
C2 PLAN YEAR means the 12 consecutive month period:
Commencing on a. 1/1 (e.g., January 1st)
and ending on b. 12/31 .
IS THERE A SHORT PLAN YEAR?
c. X No
d. Yes, beginning_________________
and ending _________________________
C3 ANNIVERSARY DATE of Plan (Annual Valuation Date)
a. 12 31
month day
C4 PLAN NUMBER assigned by the Employer (select one)
a. X 00l b. 002 c. 003 d. Other .
C5 NAME OF PLAN ADMINISTRATOR (Document provides for the Employer to appoint an
Administrator. If none is named, the Employer will become the Administrator.)
a. X Employer (Use Employer Address)
b. Name
Address _________________________________________________________
City State Zip
Telephone ________________________________________
394
Administrator's I.D. Number_______-____________
C6 PLAN'S AGENT FOR SERVICE OF LEGAL PROCESS
a. X Employer (Use Employer Address)
b. Name
Address ____________________________________________________________
City State Zip
ELIGIBILITY, VESTING AND RETIREMENT AGE
Dl ELIGIBLE EMPLOYEES (Plan Section 1.16) shall mean all Employees who have
satisfied the eligibility requirements except those checked below:
a. N/A. No exclusions.
b. X Employees whose employment is governed by a collective bargaining
agreement between the Employer and "employee representatives" under
which retirement benefits were the subject of good faith
bargaining. For this purpose, the term "employee representatives"
does not include any organization more than half of whose members
are employees who are owners, officers, or executives of the
Employer.
C. X Employees who are nonresident aliens who received no earned
income (within the meaning of Code Section 91 1(d)(2)) from the
Employer which constitutes income from sources within the United
States (within the meaning of Code Section 861(a)(3)).
NOTE: For purposes of this section, the term Employee shall include all
Employees of this Employer, any Affiliated Employer, and any leased employees
deemed to be Employees under Code Section 414(n) or 414(o).
D2 HOURS OF SERVICE (Plan Section 1.32) will be determined on the basis of the
method selected below. Only one method may be selected. The method selected
will be applied to all Employees covered under the Plan.
a. X On the basis of actual hours for which an Employee is paid or
entitled to payment.
b. On the basis of days worked. An Employee will be credited with ten
(10) Hours of Service ifunder the Plan such Employee would be
credited with at least one (1) Hour of Service during the day.
c. On the basis of weeks worked. An Employee will be credited forty-five
(45) Hours of Service if under the Plan such Employee would be
credited with at least one (1) Hour of Service during the week.
d. On the basis of semi-monthly payroll periods. An Employee will be
credited with ninety-five (95) Hours of Service if under the Plan
such Employee would be credited with at least one (1) Hour of Service
during the semi-monthly payroll period.
e. On the basis of months worked. An Employee will be credited with one
hundred ninety (190) Hours of Service if under the Plan such Employee
would be credited with at least one (1) Hour of Service during the
month.
D3 CONDITIONS OF ELIGIBILITY (Plan Section 3.1) (Check either a OR b and c, and
if applicable, d)
Any Eligible Employee will be eligible to participate in the Plan if such
Eligible Employee has satisfied the service and age requirements, if any,
specified below:
a. NO AGE OR SERVICE REQUIRED.
1. X None
2. 1/2 Year of Service
3. 1 Year of Service
4. Other
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NOTE: If the Year(s) of Service selected is or includes a fractional year,
an Employee will not be required to complete any specified number of Hours
of Service to receive credit for such fractional year. If expressed in
Months of Service, an Employee will not be required to complete any
specified number of Hours of Service in a particular month.
c. AGE REQUIREMENT (may not exceed 21)
1. N/A - No Age Requirement.
2. 20 1/2
3. X 21
4. Other _________________
d. FOR NEW PLANS ONLY - Regardless of any of the above age or service
requirements, any Eligible Employee who was employed on the
Effective Date of the Plan shall be eligible to participate
hereunder and shall enter the Plan as of such date.
D4 EFFECTIVE DATE OF PARTICIPATION (Plan Section 3.2) An Eligible Employee
shall become a Participant as of:
a. the first day of the Plan Year in which he met the requirements.
b. the first day of the Plan Year in which he met the requirements,
if he met the requirements in the first 6 months of the Plan Year,
or as of the first day of the next succeeding Plan Year if he met
the requirements in the last 6 months of the Plan Year.
c. the earlier of the first day of the seventh month or the first day
of the Plan Year coinciding with or next following the date on
which he met the requirements.
d. the first day of the Plan Year next following the date on which he
met the requirements. (Eligibility must be 1/2 Year of Service or
less and age 201/2 or less.)
e. the first day of the month coinciding with or next following the
date on which he met the requirements.
f. X Other: Quarterly ,provided that an Employee who has satisfied the
maximum age and service requirements that are permissible in
Section D3 above and who is otherwise entitled to participate,
shall commence participation no later than the earlier of (a)
6 months after such requirements are satisfied, or (b) the first
day of the first Plan Year after such requirements are satisfied,
unless the Employee separates from
service before such participation date.
D5 VESTING OF PARTICIPANT'S INTEREST (Plan Section 6.4(b))
The vesting schedule, based on number of Years of Service, shall be as
follows:
a. 100% upon entering Plan. (Required if eligibility requirement is greater
than one (1) Year of Service.)
b. 0-2years 0% c. 0-4 years 0%
3years 100% 5 years 100%
d. 0-1 year 0% e. 1 year 0%
2 years 20% 2 years 50%
3 years 40% 3 years 75%
4 years 60% 4 years 100%
5 years 80%
6 years 100%
f. X l year 20% g. 0-2 years 0%
2 years 40% 3 years 20%
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3 years 60% 4 years 40%
4 years 80% 5 years 60%
5 years 100% 6 years 80%
7 years 100%
h. Other - Must be at least as liberal as either c or g above.
Years of Service Percentage
D6 FOR AMENDED PLANS (Plan Section 6.4(f)) If the vesting schedule has been
amended to a less favorable schedule, enter the pre-amended schedule below:
a. Vesting schedule has not been amended or amended schedule is more favorable
in all years.
b. Years of Service Percentage
D7 TOP HEAVY VESTING (Plan Section 6.4(c)) If this Plan becomes a Top Heavy
Plan, the following vesting schedule, based on number of Years of Service, for
such Plan Year and each succeeding Plan Year, whether or not the Plan is a Top
Heavy Plan, shall apply and shall be treated as a Plan amendment pursuant to
this Plan. Once effective, this schedule shall also apply to any contributions
made prior to the effective date of Code Section 416 and/or before the Plan
became a Top Heavy Plan.
a. X N/A (D5a, b, d, e or f was selected)
b. 0-l year 0% c. 0-2years 0%
2 years 20% 3years 100%
3 years 40%
4 years 60%
5 years 80%
6 years 100%
NOTE: This section does not apply to the Account balances of any Participant who
does not have an Hour of Service after the Plan has initially become top heavy.
Such Participant's Account balance attributable to Employer contributions and
Forfeitures will be determined without regard to this section.
D8 VESTING (Plan Section 6.4(h)) In determining Years of Service for vesting
purposes. Years of Service attributable to the following shall be
EXCLUDED:
a. Service prior to the Effective Date of the Plan or a predecessor plan.
b. X N/A
c. Service prior to the time an Employee attained age 18.
d. X N/A
D9 PLAN SHALL RECOGNIZE SERVICE WITH PREDECESSOR EMPLOYER
a. X No.
b. Yes: Years of Service with _________________________shall be recognized
for the purpose of this Plan.
NOTE: If the predecessor Employer maintained this qualified Plan, then
Years of Service with such predecessor Employer shall be recognized
pursuant to Section 1.74 and b. must be marked.
D10 NORMAL RETIREMENT AGE ("NRA") (Plan Section 1.43) means:
a. X the date a Participant attains his 59 1/2 birthday. (not to
exceed 65th)
b. the later of the date a Participant attains his birthday (not to
exceed 65th) or the c. not to exceed 5th) anniversary of the first
day of the Plan Year in which participation in the Plan commenced.
D11 NORMAL RETIREMENT DATE (Plan Section 1.44) shall commence:
397
a. X as of the Participant's "NRA".
OR (must select b. or c. AND 1. or 2.)
b. as of the first day of the month...
c. as of the Anniversary Date...
1. coinciding with or next following the Participant's "NRA".
2. nearest the Participant's "NRA".
D12 EARLY RETIREMENT DATE (Plan Section 1.13) means the:
a. No Early Retirement provision provided.
b. X date on which a Participant...
c. first day of the month coinciding with or next following the date
on which a Participant...
d. Anniversary Date coinciding with or next following the date on which
a Participant...
AND, if b, c or d was selected...
1. X attains his 59 1/2 birthday and has
2. completed at least_____ Years of Service.
CONTRIBUTIONS, ALLOCATIONS AND DISTRIBUTIONS
El a. COMPENSATION (Plan Section 1.9) with respect to any Participant means:
1. "415 Compensation."
2. X Compensation reportable as wages on Form W-2.
b. COMPENSATION shall be
1. X actually paid (must be selected if Plan is integrated)
2. accrued
c. FOR PURPOSES OF THIS SECTION El, Compensation shall be based on:
1. X the Plan Year.
2. the Fiscal Year coinciding with or ending within the Plan Year.
3. the Calendar Year coinciding with or ending within the Plan
Year.
NOTE: The Limitation Year shall be the same as the year on which Compensation
is based.
d. HOWEVER, for an Employee's first year of participation, Compensation
shall be recognized as of:
1. X the first day of the Plan Year.
2. the date the Participant entered the Plan.
e. IN ADDITION, COMPENSATION and "414(s) Compensation"
1. shall 2. X shall not include compensation which is not currently
includible in the Participant's gross income by reason of the
application of Code Sections 125, 402(a)(8), 402(h)(1)(B), or
403(b).
E2 SALARY REDUCTION ARRANGEMENT - ELECTIVE CONTRIBUTION (Plan Section 4.2)
Each Employee may elect to have his Compensation reduced by:
a. %
b. up to ____%
c. X from 1 % to 15 %
398
d. up to the maximum percentage allowable not to exceed the limits of
Code Sections 401(k), 404 and 415.
AND...
e. X A Participant may elect to commence salary reductions as of
quarterly (ENTER AT LEAST ONE DATE OR PERIOD). A Participant may
modify the amount of salary reductions as of 1/1 (ENTER AT LEAST ONE
DATE OR PERIOD).
AND...
Shall cash bonuses paid within 2 1/2 months after the end of the Plan Year
be subject to the salary reduction election?
f. Yes
g. X No
E3 FORMULA FOR DETERMINING EMPLOYER'S MATCHING CONTRIBUTION (Plan Section
4.1(b))
a. N/A. There shall be no matching contributions.
b. The Employer shall make matching contributions equal to ____% (e.g.
50%) of the Participant's salary
reductions.
c. X The Employer may make matching contributions equal to a
discretionary percentage, to be determined by the Employer, of the
Participant's salary reductions.
d. The Employer shall make matching contributions equal to the sum of
% of the portion of the Participant's salary reduction which does
not exceed % of the Participant's Compensation plus
% of the portion of the Participant's salary reduction which
exceeds % of the Participant's Compensation, but does not
exceed % of the Participant's Compensation.
e. The Employer shall make matching contributions equal to the
percentage determined under the following schedule:
Participant's Total Matching Percentage
Years of Service
FOR PLANS WITH MATCHING CONTRIBUTIONS
f. X Matching contributions g. shall h. X shall not be used in
satisfying the deferral percentage tests. (If used, full vesting
and restrictions on withdrawals will apply and the match will be
deemed to be an Elective Contribution).
i. For Plan Years beginning prior to 1990, a Year of Service j. shall
k. shall not be required in order to share in the matching
contributions. For Plan Years beginning after 1989, a Year of
Service shall not be required in order to share in the matching
contributions.
j. In determining matching contributions, only salary reductions up to
% of a Participant's Compensation will be matched.
m. N/A.
n. The matching contribution made on behalf of a Participant for any
Plan Year shall not exceed
$ . o. N/A.
p. X Matching contributions shall be made on behalf of
1. X all Participants.
2. only Non-Highly Compensated Employees.
E4 WILL A DISCRETIONARY EMPLOYER CONTRIBUTION BE PROVIDED (OTHER THAN A
DISCRETIONARY MATCHING OR QUALIFIED NON-ELECTIVE CONTRIBUTION) (Plan
Section 4.1)?
a. No.
b. X Yes, the Employer may make a discretionary contribution out of
its current or accumulated Net Profit.
c. Yes, the Employer may make a discretionary contribution which is
not limited to its current or accumulated Net Profit.
IF YES (b. or c. is selected above), the Employer's discretionary
contribution shall be allocated as follows:
d. FOR A NON-INTEGRATED PLAN
399
The Employer discretionary contribution for the Plan Year shall be
allocated in the same ratio as each Participant's Compensation bears to the
total of such Compensation of all Participants.
e. X FOR AN INTEGRATED PLAN
The Employer discretionary contribution for the Plan Year shall be
allocated in accordance with Plan Section 4.4(b)(3) based on a
Participant's Compensation in excess of:
f. X The Taxable Wage Base.
g. The greater of $10,000 or 20% of the Taxable Wage Base. h. % of the
Taxable Wage Base. (See Note below) i. $ . (see Note below)
NOTE: The integration percentage of 5.7% shall be reduced to:
1. 4.3% if h. or i. above is more than 20% and less than or equal
to 80% of the Taxable Wage Base.
2. 5.4% if h. or i. above is less than 100% and more than 80% of
the Taxable Wage Base.
E5 QUALIFIED NON-ELECTIVE CONTRIBUTIONS (Plan Section 4.1)
a. N/A. There shall be no Qualified Non-Elective Contributions except
as provided in Section 4.6 and 4.8.
b. The Employer shall make a Qualified Non-Elective Contribution equal
to __% of the total Compensation of all Participants eligible to
share in the allocations.
c. X The Employer may make a Qualified Non-Elective Contribution in an
amount to be determined by the Employer.
E6 FORFEITURES (Plan Section 4.4(e))
a. X Forfeitures of contributions other than matching contributions
shall be...
1. X added to the Employer's contribution under the Plan.
2. allocated to all Participants eligible to share in the
allocations in the same proportion that each Participant's
Compensation for the year bears to the Compensation of all
Participants for such year.
b. X Forfeitures of matching contributions shall be...
1. N/A. No matching contributions or match is fully vested.
2. X used to reduce the Employer's matching contribution.
3. allocated to all Participant's eligible to share in the
allocations in proportion to each such Participant's
Compensation for the year.
4. allocated to all Non-Highly Compensated Employee's eligible
to share in the allocations in proportion to each such
Participant's Compensation for the year.
E7 ALLOCATIONS TO TERMINATED PARTICIPANTS (Plan Section 4.4(1))
Any Participant who terminated employment during the Plan Year for reasons
other than death, Total and Permanent Disability or retirement:
a. With respect to the allocation of Employer Non-Elective Contributions
(other than matching), Qualified Non-Elective Contributions, and
Forfeitures for Plan Years beginning prior to 1990:
1. N/A
2. X shall share in such allocations provided such Participant
completed a Year of Service. 3. shall not share in such
allocations regardless of Hours of Service.
NOTE: The Plan provides that for Plaza Years beginning after 1989, a
terminated Participant shall share in such allocations provided such
Participant completed more than 500 Hours of Service.
400
b. With respect to the allocation of Employer Matching Contributions, a
Participant:
1. For Plan Years beginning after 1989,
i. N/A, Plan does not provide for matching
contributions.
ii. shall share in the allocations, regardless of Hours
of Service.
iii. X shall share in the allocations provided such
Participant completed more than 500 Hours of Service.
2. For Plan Years beginning before 1990,
i. X N/A, new Plan, or same as Plan Years beginning
after 1989.
ii. shall share in the allocations, regardless of Hours
of Service.
iii. shall share in the allocations provided such
Participant completed a Year of Service.
E8 LIMITATIONS ON ALLOCATIONS (Plan Section 4.9)
a. If any Participant is or was covered under another qualified defined
contribution plan maintained by the Employer, other than a Master or
Prototype Plan, or if the Employer maintains a welfare benefit fund, as
defined in Code Section 419(e), or an individual medical account, as
defined in Code Section 415(l)(2), under which amounts are treated as
Annual Additions with respect to any Participant in this Plan:
1. X N/A.
2. The provisions of Section 4.9(b) of the Plan will apply as
if the other plan were a Master or Prototype Plan.
3. Provide the method under which the Plans will limit total
Annual Additions to the Maximu Permissable Amount, and will
properly reduce any Excess Amounts, in a manner that
precludes Employer discretion.
b. If any Participant is or ever has been a Participant in a defined
benefit plan maintained by the Employer:
1. X N/A.
2. In any Limitation Year, the Annual Additions credited to the
Participant under this Plan may not cause the sum of the
Defined Benefit Plan Fraction and the Defined Contribution
Fraction to exceed 1.0. If the Employer's contribution that
would otherwise be made on the Participant's behalf during
the limitation year would cause the 1.0 limitation to be
exceeded, the rate of contribution under this Plan will be
reduced so that the sum of the fractions equals 1.0. If the
1.0 limitation is exceeded because of an Excess Amount, such
Excess Amount will be reduced in accordance with Section
4.9(a)(4) of the Plan.
3. Provide the method under which the Plans involved will
satisfy the 1.0 limitation in a manner that precludes
Employer discretion.
E9 DISTRIBUTIONS UPON DEATH (Plan Section 6.6(h)) Distributions upon the death
of a Participant prior to
receiving any benefits shall...
a. X be made pursuant to the election of the Participant or beneficiary.
b. begin within 1 year of death for a designated beneficiary and be
payable over the life (or over a period not exceeding the life
expectancy) of such beneficiary, except that if the beneficiary is
the Participant's spouse, begin within the time the Participant
would have attained age 70 1/2.
c. be made within 5 years of death for all beneficiaries.
d. other _______________________________________
401
El0 LIFE EXPECTANCIES (Plan Section 6.5(t)) for minimum distributions required
pursuant to Code Section
401(a)(9) shall...
a. X be recalculated at the Participant's election.
b. be recalculated.
c. not be recalculated.
Xxx CONDITIONS FOR DISTRIBUTIONS UPON TERMINATION Distributions upon
termination of employment pursuant to Section 6.4(a) of the Plan shall not
be made unless the following conditions have been satisfied:
a. X N/A. Immediate distributions may be made at Participant's
election.
b. The Participant has incurred 1-Year Break(s) in Service.
c. The Participant has reached his or her Early or Normal
Retirement Age.
d. Distributions may be made at the Participant's election on or
after the Anniversary Date following termination of employment.
e. Other
E12 FORM OF DISTRIBUTIONS (Plan Sections 6.5 and 6.6) Distributions under the
Plan may be made...
a. 1. X in lump sums.
2. in lump sums or installments.
b. AND, pursuant to Plan Section 6.13,
1. X no annuities are allowed (avoids Joint and Survivor rules).
2. annuities are allowed (Plan Section 6.13 shall not apply).
NOTE: b.1. above may not be elected if this is an amendment to a plan which
permitted annuities as a form of distribution or if this Plan has accepted a
plan to plan transfer of assets from a plan which permitted annuities
as a form of distribution.
c. AND may be made in...
1. X cash only (except for insurance or annuity contracts).
2. cash or property.
TOP HEAVY REQUIREMENTS
Fl TOP HEAVY DUPLICATIONS (Plan Section 4.4(i)): When a Non-Key Employee is a
Participant in this Plan and a Defined Benefit Plan maintained by the
Employer, indicate which method shall be utilized to avoid duplication of
top heavy minimum benefits.
a. X The Employer does not maintain a Defined Benefit Plan..
b. A minimum, non-integrated contribution of 5% of each Non-Key
Employee's total Compensation shall be provided in this Plan, as
specified in Section 4.4(i). (The Defined Benefit and Defined
Contribution Fractions will be computed using 100% if this choice
is selected.)
c. A minimum, non-integrated contribution of 7 1/2% of each Non-Key
Employee's total Compensation shall be provided in this Plan, as
specified in Section 4.4(i). (If this choice is selected, the
Defined Benefit and Defined Contribution Fractions will be computed
using 125% for all Plan Years in which the Plan is Top Heavy, but
not Super Top Heavy.)
d. Specify the method under which the Plans will provide top heavy
minimum benefits for Non-Key Employees that will preclude Employer
discretion and avoid inadvertent omissions, including any
adjustments required under Code Section 415(e).
402
F2 PRESENT VALUE OF ACCRUED BENEFIT (Plan Section.2.2) for Top Heavy purposes
where the Employer maintains a Defined Benefit Plan in addition to this Plan,
shall be based on...
a. X N/A. The Employer does not maintain a defined benefit plan.
b. Interest Rate: _________________________
Mortality Table: ______________________
F3 TOP HEAVY DUPLICATIONS: Employer maintaining two (2) or more Defined
Contribution Plans (other than paired plans).
a. X N/A.
b. A minimum, non-integrated contribution of 3% of each Non-Key
Employee's total Compensation shall be provided in the Money
Purchase Plan (or other plan subject to Code Section 412), where
the Employer maintains two (2) or more non-paired Defined
Contribution Plans.
c. Specify the method under which the Plans will provide top heavy
minimum benefits for Non-Key Employees that will preclude Employer
discretion and avoid inadvertent omissions, including any
adjustments required under Code Section 415(e).
MISCELLANEOUS
G1 LOANS TO PARTICIPANTS (Plan Section 7.4)
a. X Yes, loans may be made up to $50,000 or 1/2 Vested interest.
b. No, loans may not be made.
If YES, (check all that apply)...
c. loans shall be treated as a Directed Investment.
d. loans shall only be made for hardship or financial necessity.
e. X the minimum loan shall be $l,000.
f. $10,000 de minimis loans may be made regardless of Vested interest.
(If selected, plan may need security in addition to Vested
interest)
NOTE: Department of Labor Regulations require the adoption of a
separate written loan program setting forth the requirements
outlined in Plan Section 7.4.
G2 DIRECTED INVESTMENT ACCOUNTS (Plan Section 4.13) are permitted for the
interest in any one or more accounts.
a. Yes, regardless of the Participant's Vested interest in the Plan.
b. Yes, but only with respect to the Participant's Vested interest in
the Plan.
c. Yes, but only with respect to those accounts which are 100% Vested. d.
X No directed investments are permitted.
G3 TRANSFERS FROM QUALIFIED PLANS (Plan Section 4.11).
a. X Yes, transfers from qualified plans (and rollovers) will be allowed.
b. No, transfers from qualified plans (and rollovers) will not be allowed.
AND, transfers shall be permitted...
c. X from any Employee, even if not a Participant.
d. from Participants only.
G4 EMPLOYEES' VOLUNTARY CONTRIBUTIONS (Plan Section 4.12)
a. Yes, Voluntary Contributions are allowed subject to the limits of
Section 4.7.
b. X No, Voluntary Contributions will not be allowed.
403
NOTE: TRA `86 subjects voluntary contributions to strict discrimination
rules. GS HARDSHIP DISTRIBUTIONS (Plan Section 6.11)
a. X Yes, from any accounts which are 100% Vested.
b. Yes, from Participant's Elective Account only.
c. Yes, but limited to the Participant's Account only.
d. No.
NOTE: Distributions from a Participant's Elective Account are limited to
the portion of such account attributable to such Participant's Deferred
Compensation and earnings attributable thereto up to December 31, 1988.
Also hardship distributions are not permitted from a Participant's
Qualified Non-Elective Account.
G6 PRE-RETIREMENT DISTRIBUTION (Plan Section 6.10)
a. If a Participant has reached the age of 59 1/2,distributions may be
made, at the Participant's election, from any accounts which are
100% Vested without requiring the Participant to terminate
employment.
b. No pre-retirement distribution may be made.
NOTE: Distributions from a Participant's Elective Account and Qualified
Non-Elective Account are not permitted prior to age 59 1/2.
G7 LIFE INSURANCE (Plan Section 7.2(d)) may be purchased with Plan
contributions.
a. X No life insurance may be purchased.
b. Yes, at the option of the Administrator.
c. Yes, at the option of the Participant..
An Employer who has ever maintained or who later adopts any plan in addition to
this Plan (including a welfare benefit fund, as defined in Code Section 419(e),
which provides post-retirement medical benefits allocated to separate accounts
for Key Employees, as defined in Code Section 419A(d)(3) or an individual
medical account, as defined in Code Section 415(l)(2)) may not rely on the
opinion letter issued by the National Office of the Internal Revenue Service as
evidence that this Plan is qualified under Code Section 401. If the Employer who
adopts or maintains multiple plans wishes to obtain reliance that the Employer's
plan(s) qualified, application for a determination letter should be made to the
appropriate key district director of Internal Revenue.
This Adoption Agreement may be used only in conjunction with basic Plan document
#03. This Adoption Agreement and the basic Plan document shall together be known
as Aetna Life Insurance and Annuity Company Standardized 401(k) Profit Sharing
Plan #03-002.
The adoption of this Plan, its qualification by the IRS, and the related tax
consequences are the responsibility of the Employer and its independent tax and
legal advisors.
Aetna Life Insurance and Annuity Company will notify the Employer of any
amendments made to the Plan or of the discontinuance or abandonment of the Plan
provided this Plan has been acknowledged by Aetna Life Insurance and Annuity
Company or its authorized representative. Furthermore, in order to be eligible
to receive such notification, we agree to notify Aetna Life Insurance and
Annuity Company of any change in address.
IN WITNESS WHEREOF, the Employer and Trustee hereby cause this Plan to be
executed on this day of NOVEMBER, 1998. Furthermore, this Plan may not be used
unless acknowledged by Aetna Life Insurance and Annuity Company or its
authorized representative.
EMPLOYER: CommSource International
TRUSTEE: Xxxxxx Xxxxxxx
By:
TRUSTEE
404
PARTICIPATING EMPLOYER: TRUSTEE
Telesource International, Inc.
(enter name)
BY:
This Plan may not be used, and shall not be deemed to be a Prototype Plan,
unless an authorized representative of Aetna Life Insurance and Annuity Company
has acknowledged the use of the Plan. Such acknowledgment is for administerial
purposes only. It acknowledges that the Employer is using the Plan but does not
represent that this Plan, including the choices selected on the Adoption
Agreement, has been reviewed by a representative of the sponsor or constitutes a
qualified retirement plan.
Aetna Life Insurance and Annuity Company
By:
With regard to any questions regarding the provisions of the Plan, adoption of
the Plan, or the effect of an opinion letter from the IRS, call or write (this
information must be completed by the sponsor of this Plan or its designated
representative):
Name
Address
Telephone ( )
405
