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Title:

Defined Contribution Prototype Plan

Entities:

Kyocera Corp.; Union Bank of California, NA

Date:

2004

Size:

Preview shows 71KB of 476KB total

Price:

$99

ID:

#1160967

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Defined Contribution Prototype Plan

UNION BANK OF CALIFORNIA

SelectBENEFIT Defined Contribution Plan Document

Defined Contribution Prototype Plan

TABLE OF CONTENTS

ARTICLE I

DEFINITIONS

ARTICLE II

ADMINISTRATION


2.1	POWERS AND RESPONSIBILITIES OF THE EMPLOYER	22

2.2	DESIGNATION OF ADMINISTRATIVE AUTHORITY	23

2.3	ALLOCATION AND DELEGATION OF RESPONSIBILITIES	23

2.4	POWERS AND DUTIES OF THE ADMINISTRATOR	23

2.5	RECORDS AND REPORTS	25

2.6	APPOINTMENT OF ADVISERS	25

2.7	INFORMATION FROM EMPLOYER	25

2.8	PAYMENT OF EXPENSES	25

2.9	MAJORITY ACTIONS	25

2.10	CLAIMS PROCEDURE	26

2.11	CLAIMS REVIEW PROCEDURE	26

ARTICLE III ELIGIBILITY

3.1	CONDITIONS OF ELIGIBILITY	27

3.2	EFFECTIVE DATE OF PARTICIPATION	27

3.3	DETERMINATION OF ELIGIBILITY	28

3.4	TERMINATION OF ELIGIBILITY	28

3.5	REHIRED EMPLOYEES AND BREAKS IN SERVICE	28

3.6	ELECTION NOT TO PARTICIPATE	29

3.7	CONTROL OF ENTITIES BY OWNER-EMPLOYEE	29

(i)

Defined Contribution Prototype Plan



ARTICLE IV CONTRIBUTION AND ALLOCATION

4.1	FORMULA FOR DETERMINING EMPLOYERS CONTRIBUTION	30

4.2	TIME OF PAYMENT OF EMPLOYERS CONTRIBUTION	30

4.3	ALLOCATION OF CONTRIBUTION, FORFEITURES AND EARNINGS	31

4.4	MAXIMUM ANNUAL ADDITIONS	39

4.5	ADJUSTMENT FOR EXCESSIVE ANNUAL ADDITIONS	44

4.6	ROLLOVERS	46

4.7	PLAN TO PLAN TRANSFERS FROM QUALIFIED PLANS	47

4.8	VOLUNTARY EMPLOYEE CONTRIBUTIONS	48

4.9	QUALIFIED VOLUNTARY EMPLOYEE CONTRIBUTIONS	49

4.10	DIRECTED INVESTMENT ACCOUNT	50

4.11	INTEGRATION IN MORE THAN ONE PLAN	52

4.12	QUALIFIED MILITARY SERVICE	52

ARTICLE V VALUATIONS

5.1	VALUATION OF THE TRUST FUND	53

5.2	METHOD OF VALUATION	53

ARTICLE VI DETERMINATION AND DISTRIBUTION OF BENEFITS

6.1	DETERMINATION OF BENEFITS UPON RETIREMENT	54

6.2	DETERMINATION OF BENEFITS UPON DEATH	54

6.3	DETERMINATION OF BENEFITS IN EVENT OF DISABILITY	55

6.4	DETERMINATION OF BENEFITS UPON TERMINATION	55

6.5	DISTRIBUTION OF BENEFITS	58

6.6	DISTRIBUTION OF BENEFITS UPON DEATH	65

(ii)

Defined Contribution Prototype Plan



6.7	TIME OF DISTRIBUTION	70

6.8	DISTRIBUTION FOR MINOR OR INCOMPETENT BENEFICIARY	70

6.9	LOCATION OF PARTICIPANT OR BENEFICIARY UNKNOWN	70

6.10	IN-SERVICE DISTRIBUTION	71

6.11	ADVANCE DISTRIBUTION FOR HARDSHIP	71

6.12	SPECIAL RULE FOR CERTAIN PROFIT SHARING PLANS	72

6.13	QUALIFIED DOMESTIC RELATIONS ORDER DISTRIBUTION	73

6.14	DIRECT ROLLOVERS	73

6.15	TRANSFER OF ASSETS FROM A MONEY PURCHASE PLAN	74

6.16	ELECTIVE TRANSFERS OF BENEFITS TO OTHER PLANS	75

ARTICLE VII AMENDMENT, TERMINATION AND MERGERS

7.1	AMENDMENT	77

7.2	TERMINATION	78

7.3	MERGER, CONSOLIDATION OR TRANSFER OF ASSETS	78

7.4	TRANSFER OF INTEREST	78

ARTICLE VIII TOP HEAVY PROVISIONS

8.1	TOP HEAVY PLAN REQUIREMENTS	79

8.2	DETERMINATION OF TOP HEAVY STATUS	79

ARTICLE IX MISCELLANEOUS

9.1	EMPLOYER ADOPTIONS	82

9.2	PARTICIPANTS RIGHTS	82

9.3	ALIENATION	82

(iii)

Defined Contribution Prototype Plan



9.4	CONSTRUCTION OF PLAN	83

9.5	GENDER AND NUMBER	83

9.6	LEGAL ACTION	83

9.7	PROHIBITION AGAINST DIVERSION OF FUNDS	83

9.8	EMPLOYERS AND TRUSTEES PROTECTIVE CLAUSE	84

9.9	INSURERS PROTECTIVE CLAUSE	84

9.10	RECEIPT AND RELEASE FOR PAYMENTS	84

9.11	ACTION BY THE EMPLOYER	84

9.12	NAMED FIDUCIARIES AND ALLOCATION OF RESPONSIBILITY	85

9.13	HEADINGS	85

9.14	APPROVAL BY INTERNAL REVENUE SERVICE	86

9.15	UNIFORMITY	86

9.16	PAYMENT OF BENEFITS	86

9.17	EMPLOYER SECURITIES AND REAL PROPERTY	86

ARTICLE X PARTICIPATING EMPLOYERS

10.1	ELECTION TO BECOME A PARTICIPATING EMPLOYER	87

10.2	REQUIREMENTS OF PARTICIPATING EMPLOYERS	87

10.3	DESIGNATION OF AGENT	87

10.4	EMPLOYEE TRANSFERS	87

10.5	PARTICIPATING EMPLOYERS CONTRIBUTION AND FORFEITURES	87

10.6	AMENDMENT	88

10.7	DISCONTINUANCE OF PARTICIPATION	88

10.8	ADMINISTRATORS AUTHORITY	88

10.9	PARTICIPATING EMPLOYER CONTRIBUTION FOR AFFILIATE	88

(iv)

Defined Contribution Prototype Plan



ARTICLE XI CASH OR DEFERRED PROVISIONS

11.1	FORMULA FOR DETERMINING EMPLOYERS CONTRIBUTION	89

11.2	PARTICIPANTS SALARY REDUCTION ELECTION	90

11.3	ALLOCATION OF CONTRIBUTION, FORFEITURES AND EARNINGS	94

11.4	ACTUAL DEFERRAL PERCENTAGE TESTS	96

11.5	ADJUSTMENT TO ACTUAL DEFERRAL PERCENTAGE TESTS	99

11.6	ACTUAL CONTRIBUTION PERCENTAGE TESTS	104

11.7	ADJUSTMENT TO ACTUAL CONTRIBUTION PERCENTAGE TESTS	108

11.8	SAFE HARBOR PROVISIONS	112

11.9	ADVANCE DISTRIBUTION FOR HARDSHIP	115

ARTICLE VIII SIMPLE 401(K) PROVISIONS

12.1	SIMPLE 401(k) PROVISIONS	117

12.2	DEFINITIONS	117

12.3	CONTRIBUTIONS	118

12.4	ELECTION AND NOTICE REQUIREMENTS	119

12.5	VESTING REQUIREMENTS	119

12.6	TOP-HEAVY RULES	119

12.7	NONDISCRIMINATION TESTS	119

ARTICLE XIII LOAN PROVISIONS

13.1	LOANS TO PARTICIPANTS	120

(v)

Defined Contribution Prototype Plan

ARTICLE I

DEFINITIONS

As used in this Plan, the following words and phrases shall have the meanings set forth herein unless a different meaning is dearly required by the context:

1.1 ACP means the Actual Contribution Percentage determined pursuant to Section 11.6(e).

1.2 Act means the Employee Retirement Income Security Act of 1974, as it may be amended from time to

1.3 ADP means the Actual Deferral Percentage determined pursuant to Section 11.4(e).

1.4 Administrator means the Employer unless another person or entity has been designated by the Employer pursuant to Section 2.2 to administer the Plan, as Plan Administrator as defined in Act Section 3(16), on behalf of the Employer.

1.5 Adoption Agreement means the separate agreement which is executed by the Employer and sets forth the elective provisions of this Plan as specified by the Employer.

1.6 Affiliated Employer means any corporation which is a member of a controlled group of corporations (as defined in Code Section 414(b)) which includes the Employer, any trade or business (whether or not incorporated) which is under common control (as defined in_. Code Section 414(c)) with the Employer, any organization (whether or not incorporated) which is a member of an affiliated service group (as defined in Code Section 414(m)) which includes the Employer, and any other entity required to be aggregated with the Employer pursuant to Regulations under Code Section 414(o).

1.7 Anniversary Date means the last day of the Plan Year.

1.8 Annuity Starting Date means, with respect to any Participant, the first day of the first period for which an amount is paid as an annuity, or, in the case of a benefit not payable in the form of an annuity, the first day on which all events have occurred which entitles the Participant to such benefit:

1.9 Beneficiary means the person (or entity) to whom all or a portion of a deceased Participants interest in the Plan is payable, subject to the restrictions of Sections 6.2 and 6.6.

1.10 Code means the Internal Revenue Code of 1986, as amended.

1.11 Compensation with respect to any Participant means one of the following-as elected in the Adoption Agreement:

Defined Contribution Prototype Plan

(a) Information required to be reported under Code Sections 6041, 6051 and 6052 (Wages, tips and other compensation as reported on Form W-2). Compensation means wages, within the meaning of. Code Section 3401(a), and all other payments of compensation to an Employee by the Employer (in the course of the Employers trade or business) for which the Employer is required to furnish the Employee a written statement under Code Sections 6041(d), 6051(a)(3) and 6052. Compensation must be determined without regard to any rules under Code Section 3401(a) that limit the remuneration included in wages based on the nature or location of the employment or the services performed (such as the exception for agricultural labor in Code Section 3401(a)(2)).

(b) Code Section 3401(a) Wages. Compensation means an Employees wages within the meaning of Code Section 3401(a) for the purposes of income tax withholding at the source but determined without regard to any rules. that limit the remuneration included in wages based on the nature or location of the employment or the services performed (such as the exception for agricultural labor in Code Section 3401(a)(2)).

(c) 415 Safe-Harbor Compensation. Compensation means wages, salaries, and fees for professional services and other amounts received (without regard to whether or not an amount is paid in cash) for personal services actually rendered in the course of employment with the Employer maintaining the Plan to the extent that the amounts are includible in gross income (including, but not limited to, commissions paid salespersons, compensation for services on the basis of a percentage of profits, commissions on insurance premiums, tips, bonuses, fringe benefits, and reimbursements, or other expense allowances under a nonaccountable plan (as described in Regulation 1.62-2(c))), and excluding the following:

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