Amended Deferred Compensation Plan for the City of Carmel/Amendment #2/HR AMENDMENT NUMBER TWO
TO THE
DEFERRED COMPENSATION PLAN OF THE
CITY OF CARMEL,INDIANA
EFFECTIVE DATE: February 21,2017
The DEFERRED COMPENSATION PLAN OF THE CITY OF CARMEL,INDIANA,originally effective
May 15, 1981,and restated in its entirety effective November 1,2013,is hereby amended as follows:
By deleting Section 20 of the adoption agreement to the above-referenced Plan in its entirety and by
substituting in lieu thereof the following:
20. DISTRIBUTIONS PRIOR TO SEVERANCE FROM EMPLOYMENT(4.05).A Participant prior to
Severance from Employment may elect to receive a distribution of his/her Vested Account under the following
distribution options(Choose one of a. or b.):
a. [ ] None.A Participant may not receive a distribution prior to Severance from Employment.
b. [X] Distributions.Prior to Severance from Employment are permitted as follows (Choose one or more of 1.
through 4):
1. [X] Unforeseeable emergency.A Participant may elect a distribution from his/her Account in
accordance with Plan Section 4.05(A).
2. [X] De minimis exception.[Plan Section 4.05(B)]If the Participant: (i)has an Account that does not
exceed$5,000;(ii)has not made or received an allocation of any Deferral Contributions under the
Plan during the two-year period ending on the date of distribution;and(iii)has not received a prior
Plan distribution under this de minimis exception,then (Choose one of a., b. or c):
a. [X] Participant election.The Participant may elect to receive all or any portion of his/her
Account.
b. [ ] Mandatory distribution.The Plan Administrator will distribute the Participant's entire
Account.
c. [ ] Hybrid.The Plan Administrator will distribute a Participant's Account that does not exceed$_
_and the Participant may elect to receive all or any portion of his/her Account that exceeds$_
_but that does not exceed$5,000.
3. [X] Age 70 1/2.A Participant who attains age 70 1/2 prior to Severance from Employment may elect
distribution of any or all of his/her Account.
4. [ ] Specify:
[Note:An Employer need not permit any in-service distributions.Any election must comply with the distribution
restrictions of Code Section 457(d).]
CITY OF CARMEL,INDIANA has caused its name to be signed by its duly authorized officer to evidence
adoption of this Plan amendment as of the date designated below.
CITY OF CARMEL,INDIANA
By
Title_ Signature Page Attached
Date — - --- — - -- --
G76040 457(b)
CITY OF CARMEL, INDIANA
By and through its Board of Public Works and Safety
Ne-Y- \ \verrr
James B ainar , Presiding Officer Date
3/1/7
Burke, Member Date
3 / 7
Lori S. W' tso ember Date
ATTEST:
cT -3//// -,
C • il ey lerk-$asdrer Date