426–Northwest Service Cooperative 403(b) Plan

POLICY:  426

ADOPTED: March 2009

426      NORTHWEST SERVICE COOPERATIVE 403(b) PLAN

I. PURPOSE

The purpose of this policy is to establish a retirement “plan” by establishing investment arrangements for its employees pursuant to Section 403(b) of the Internal Revenue Code of 1986, as amended.

II. GENERAL STATEMENT OF POLICY

1. The Plan is effective January 1, 2009
2. Plan Administrator: CPI Common Remitter Service
3. Employees Eligible: All Employees
4. Roth 403(b) Contributions are permitted
5. After tax Employee Contributions are not permitted
6. 15 Years of Service Catch-up Contributions are permitted
7. Age 50 Catch-up Contributions are permitted
8. Employer Contributions are not permitted
9. Employer Matching Contributions are not permitted
10. Normal Retirement age is 65
11. Loans are permitted from Elective Deferrals
12. Hardship Withdrawals are permitted
13. Rollovers to the Plan are permitted

Additional information and details of the 403(b) plan are covered in the “Plan Agreement” on file at the Northwest Service Cooperative.