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<br />The group specified must correspond to a group of the same designation that is defined <br />in the statutes, ordinances, rules, regulations, personnel manuals or other material in <br />effect in the state or locality of the Employer. <br /> <br />2, The Employer hereby waives or reduces the requirement of a twelve (12) month Period <br />of Service for participation, The required Period of Service shall be N / A <br />write N/ A if an Employee is eligible to participate upon employment), [344] <br /> <br />If this waiver or reduction is elected, it shall apply to all Employees within the eovered <br />Employment elassification, <br /> <br />3. <br /> <br />A minimum age requirement is hereby specified for eligibility to participate. The <br />minimum age requirement is ~ (not to exceed age 21), Write N/A ifno mini- <br />mum age is declared, <br /> <br />[341] <br /> <br />VI. eONTRIBUTION PROVISIONS <br /> <br />1. The Employer shall contribute as follows (choose one): <br /> <br />o Fixed Employer Contributions With Or Without Mandatory <br /> <br />Participant Contributions, <br /> <br />The Employer shall contribute on behalf of each Participant ~ % of <br />earnings or $ for the Plan Year (subject to the limitations <br />of Article V of the Plan), Each Participant is required to contribute <br />~ % of earnings or $ n for the Plan Year as a condition <br />of participation in the Plan. (Write "0" if no contribution is required.) <br />If Participant eontributions are required under this option, a Participant <br />shall not have the right to discontinue or vary the rate of such contribu- <br />tions after becoming a Plan Participant, <br /> <br />The Employer hereby elects to "pick up" the Mandatory/Required <br />Participant eontribution, <br /> <br />o <br /> <br />Yes <br /> <br />o No <br /> <br />[621] <br /> <br />The pick-up provision specifies that the contribution is treated, for <br />federal income tax purposes, as though it is made by the employer. The <br />pick-up provision allows the employee to defer taxes on the employee <br />mandatory contribution. The actual result is the same as if the contribu- <br />tion were a reduction in that employee's salary by the amount of the <br />contribution, Picked up contributions are NOT exempt from Social <br />Security tn, <br /> <br />[Note to Employer: A determination letter issued to an adopting Em- <br />ployer is not a ruling by the Internal Revenue Service that Participant <br />contributions that are picked up by the Employer are not includable in <br />the Participant's gross income for federal income tax purposes, The <br />Employer may seek such a ruling. <br /> <br />2 <br /> <br />MPP Adoption Agreement 4/30/2000 <br />