AUL Amendment 401 AMENDMENT
TO
GROUP ANNUITY CONTRACT
G 36,865 (THE CONTRACT)
ISSUED BY
AMERICAN UNITED LIFE INSURANCE COMPANY (AUL)
TO THE
TRUSTEES OF THE CITY OF CARMEL RETIREMENT PLAN
(THE CONTRACTHOLDER)
This Amendment is effective on JANUARY 01, 2013.
AUL and the Contractholder hereby agree that the Contract is amended as follows:
By replacing the corresponding paragraph of§2.1 with the following:
If we can allocate a Contribution to a Participant's Account, but we have not received
Investment Option elections for that Participant, the Contribution will be credited to the
following default Investment Option: American Century® Livestrong 2015, 2020, 2025,
2030, 2035, 2040, 2045, 2050, or 2055, based on the Participant's date of birth.
Subsequently received Investment Option elections for that Participant will be used to
allocate future Contributions only. We will transfer amounts previously allocated for that
Participant to such default Investment Option, plus gains or minus losses thereon, only if
we are directed to make a transfer. This transfer request must be submitted in a format
specifically authorized by us.
And by replacing the first paragraph of§6.1 with the following:
Annuity Purchases: Prior to notification of contract termination (but not thereafter), you
may withdraw all or a portion of a Participant's Account Value to provide an annuity
reflecting Plan benefits. Such a withdrawal is not subject to a Withdrawal Charge or
Market Value Adjustment. On the date we receive an annuity purchase request, we
transfer the entire Participant Account to the FIA if it is an available Investment Option,
otherwise to the default Investment Option listed in §2.1. Such amounts remain in the
FIA or the default Investment Option until the full Account Value (reflecting gains and
losses) is applied to purchase the annuity on the last day of the month preceding the
Annuity Commencement Date. As of that annuity purchase date, such Participant
Account funds are no longer maintained in this contract.
CONTRACTHOLDER AUL
By
Signature Page Attached
Title
Date Date
OM-K.defaultinvest
CITY OF CARMEL, INDIANA
By and through its Board of Public Works and Safety
mes ra. ard, Presiding Officer Date
Mar , An urke, Board Member Date v1
Lori Watson oard Member Date
ATTES •
q- / 7-/3
iana Cordray, IA , Clerk-Treasurer Date