3.96.020 Definitions.
A. "Administrator" means the committee appointed by the Employer pursuant to 3.96.080 A. to administer the Plan and perform administrative functions for the Plan as specified by the Employer.
B. "Alternate Payee" means any spouse, child or other dependent of a Participant who is recognized by a domestic relations order as having a right to receive all, or a portion of, the benefits payable under the Plan with respect to such Participant.
C. "Beneficiary" means the person(s) or estate entitled to receive benefits under this Plan upon the death of a Participant.
D. "Code" means the Internal Revenue Code of 1986, as amended, and any regulations promulgated thereunder.
E. "Committee" means the Deferred Compensation Committee appointed by the Employer to administer the Plan.
F. "Compensation" means the total remuneration earned by an employee for personal services rendered to the Employer for the calendar year including amounts deferred under this Plan and any other Eligible Deferred Compensation Plan, without regard to community property laws.
G. "Deferral" means the annual amount of compensation not yet earned that a Participant elects to defer under a Voluntary Salary Deferral Agreement.
H. "Eligible Rollover Plan" means a governmental 457(b) plan, a Traditional IRA, a Code Section 401(a) or (k) plan, a 403(b) program or a simplified employee pension ("SEP") to and from which amounts may be rolled.
I. "Eligible Deferred Compensation Plan" or "Eligible Plan" means any plan which meets the requirements of Section 457(b) of the Code and includes this Plan among others.
J. "Employer" means Pierce County.
K. "Includable Compensation" means Compensation for services performed for the Employer which is currently includable in gross income as reported on an employee’s Federal Income Tax withholding statement (W-2 Form). In other words, it means Compensation reduced by the following amounts, to the extent such amounts are excludable from gross income:
1. amounts deferred under this Plan,
2. amounts deferred under any other Eligible Deferred Compensation Plan,
3. contributions to a tax-sheltered annuity plan qualified under Section 403(b) of the Code, and
4. employee contributions to the Washington Public Employees Retirement System or to other public retirement systems that have been "picked up" by the Employer pursuant to Code Section 414(h).
A Participant’s Includable Compensation for a taxable year shall be determined without regard to any community property laws.
L. "Normal Retirement Age" means age 70½ or other earlier age specified by the Participant. In no event shall Normal Retirement Age be earlier than the earliest date at which one may retire under the State of Washington Public Employee Retirement System without incurring an actuarial or similar reduction benefit.
M. "Open Enrollment Period" means any of the following time periods: January 1 through December 31.
N. "Participant" means an employee or former employee who is or has enrolled in the Plan and retains rights to benefits under the Plan.
O. "Plan" means this Pierce County Deferred Compensation Plan effective January 1, 1984, either in its present form or as amended.
P. "Plan Year" means the 12-month period beginning January 1 and ending December 31.
Q. "Rollover Contribution" means a contribution made to a plan by an Employee directly or indirectly (i.e., within 60 days of receipt) attributable to a distribution from an Eligible Rollover Plan.
R. "Voluntary Salary Deferral Agreement" means the agreement between a Participant and the Employer to defer receipt by the Participant of Compensation not yet earned. Such agreement shall state the Deferral amount to be withheld from a Participant’s paycheck and shall become effective no earlier than the first day of any pay period after it is executed by the Participant and accepted by the Committee.