Voluntary Salary Deferral Agreement
By this Agreement, made between the Employer and the Employee named on this form, the parties hereto agree as follows:
Effective with respect to amounts paid or otherwise made available on or after the date of this signed agreement, the employee’s salary will be reduced by the percentage indicated on this form. At the same time, the employer will contribute this amount to the employee’s account(s) maintained under The Fellow Travelers 401K plan, under which the employee may allocate among the approved investment options.
I understand this Salary Deferral Agreement replaces any earlier agreement and will remain in effect as long as I remain an Eligible Employee under the applicable 401(k) plan, until I provide a request to end my salary reduction contributions, or until I provide a new Salary Deferral Agreement. This form must be completed no later than the last business day of the month prior to the desired payroll effective date, subject to administrative feasibility.
This percentage deduction shall be applied to all earnings, as defined by the plan(s), including, but not limited to: base salary, appointment salary, overload, overtime, paid time off, shift differential, stipends, and other gross wages.
The amount deferred hereunder will produce a total deferral that does not exceed the applicable limitations of the Internal Revenue Code.
YOU WILL BE ENROLLED INTO THE DEFAULT ELECTION TARGET DATE FUND (corresponding with your date of birth) until you complete the online enrollment which can be done AFTER completing this form.
