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Article III <br /> <br />· Clarification Language that the Employer may contribute to the Plan for <br /> participant's benefit has been added. <br /> <br /> ArtiCle IV 'Provides for Plan to Plan Transfers. ~- <br /> <br /> Article V <br /> Reformatted Designation of Beneficiary now addressed as a separate <br /> article, Payout specifications have been transferred <br /> to 8.03. <br /> <br /> Article VI <br /> Clarification Clarified to reflect current administrator duties. <br /> Article VII <br /> <br /> Reformatted All assets of the plan are the exclusive property of <br /> the employer. <br /> <br /> Article VIII <br /> <br /> Bill The benefits section in the new plan document has been <br /> entirely restructured. Some of the language has been <br /> retained, however most of the language has been <br /> recreated to reflect Tax Reform. <br /> <br /> 8,01 - provides for distributions past age 70 1/2 if <br /> still employed, but deferrals must stop. <br /> <br /> Administrative Requires at least 5 days from the date the participant <br /> selects the distribution commencement date and the date <br /> payout begins. <br /> <br /> Liberalization Irrevocable election must now be made no later than 60 <br /> days following the calendar year in which the <br /> participant separates from service. <br /> <br /> Bill Mandatory commencement date is now the later of age 70 <br /> 1/2 or seperation from service. <br /> <br /> 8.02 - Failure to file such election will result in a <br /> default. If account value is $10,000 or less lump sum, <br /> over $I0,000 life annuity 10 year certain, <br /> <br /> Liberalization 8.03 - Number of days regarding beneficiaries right to <br /> select payout have changed. <br /> <br /> <br />