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425 10. employee benefit. Also it is essential for all levels of employees to become aware of the Plan so that everyone has an opportunity to enroll in the Plan in order for the Plan to have favorable anti-discrimination results. Provide a facility to conduct enrollment meetings for your employees. Publicize the meeting to all your employees by internal publi- cation, meeting notices provided by the Administrator and thru other media agreed to by your coordinator and the Administrator. Provide payroll deductions for Plan Contributions and Plan Loan Repayments. Modify your payroll application to comply with speci- fications required by the Administrator of the Plan. This includes the format of the deduction report for the delivery of contribu- tions and loan repayments to the Administrator. The employer has the responsibility to deliver the contributions report, loans payment report, and the funds for these reports to the Administrator's Operations Department. Notify the Administrator of "new hires" who have joined the Plan and of terminations who did not make a current month contribution and/or loan repayment providing the Season for termination, such as retirement, separation from service, leave of absence, disability, etc. Agrees that unless authorized by the Administrator that contribu- tions to the Plan will not be suspended, modified or terminated for a participant. This also applies to Plan loan repayments. The employer agrees to comply with Operating Procedures established by the Administrator of the Plan. It is understood that the procedures may be modified or revised from time to time and the employer agrees with adequate notice to comply with revisions and modifications without delay. ARTICLE II Responsibilities of the ADMINISTRATOR Assist the EMPLOYER'S coordinator in scheduling enrollment meet- ings, provide the employer with meeting notification materials, to include but not limited to posters, handbills, press release type articles, payroll stuffers, etc., that is acceptable to the employer coordinator and the Administrator. To present the Plan and its benefits to the employees and enroll them in the Plan. To provide brochures, enrollment forms, payroll deduction author- ization forms, withdrawal forms, loan applications and other forms relating to loans, as well as other forms needed to fulfill the duties as Administrator of the Plan. To maintain a record of each participant's contribution and to invest their contribution in the fund(s) selected by the partici- pant. To provide the participant with a statement of their account twice a year which shows the value of their account. To allow the participant to borrow from their account when they have complied with the eligibility requirements established by the Administrator and the Plan as permitted by Federal Regulations, the Plan and Administrator. To provide the participants withdrawal options including lump sum distribution and periodic payments in accordance with the Plan and the Internal Revenue Code of 1954, as it may be amended. To provide administrative and operating procedures for the employer. ARTICLE III Required Plan Participation An Employer and the Administrator must jointly be successful in obtaining satisfactory participation from employees of all pay grades of the employer. BB&T, as Administrator of the State 401(k) Plan, is obligated to insure favorable anti-discrimination testing results. When an employer does not have satisfactory voluntary participation from the upper and lower paid employees, employers will be subject to limited