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26 <br />GN - 150079 Specimen 457(b) Plan Document <br />GPLANLVL – CORRSPND Deferred Compensation Plan <br /> Ver 102011 <br />may be relieved through reimbursement or compensation from insura nce or <br />otherwise; by liquidation of the Participant's assets, to the extent the liquidation of <br />such assets would not itself cause severe financial hardship; or by cessation of <br />deferrals under the Plan if the cessation of deferrals would alleviate the finan cial <br />need. <br />(iii) Distribution necessary to satisfy emergency need. Distributions because of an <br />unforeseeable emergency may not exceed the amount reasonably necessary to <br />satisfy the emergency need (which may include any amounts necessary to pay any <br />federal, State, or local income taxes or penalties reasonably anticipated to result <br />from the distribution). <br />(b) De minimis Account Balance Distributions . A Participant before Severance o f <br />Employment may request a distribution of his or her total Account Balance (excluding <br />the rollover contribution separate account), which shall be paid in a lump sum payment as <br />soon as practical following the direction if (i) the total Account Balance does not exceed <br />$5,000 (or the dollar limit under Code Section 411(a)(11), if greater), (ii) the Participant <br />has not previously received a distribution of their total Account Balance payable to the <br />Participant under this Section 6.10 (b), and (iii) no Annual Deferral has been made with <br />respect to the Participant during the two -year period ending immediately before the date <br />of the distribution. <br />The Administrator may direct payments under the terms of this Sec tion 6.10(b) if the <br />Participant's total Account Balance (excluding the rollover contribution separate account) <br />is $1,000 or less, then the Administrator may pay the distribution in a lump sum payment. <br />(c) Rollover Account Distributions . If a Participant has a separate account attributable to <br />rollover contributions under the Plan, the Participant before Severance of Employment <br />may at any time elect to re ceive an inservice distribution of all or any portion of the <br />amount held in the rollover separate account. Any designated Roth contributions rolled <br />over to the Plan are treated as Roth Contributions for Plan purposes and are not eligible <br />for inservice with drawal under this Section 6.10(c). <br />(d) Age 70 ½ Distributions . Prior to Severance from Employment, a Participant may <br />withdraw all or a portion of his or her Account Balance on or after first day of the <br />calendar year in which the Participant shall attain age 70½. <br />(e) Qualified Military Service Deemed Severance Distributions. The Plan d oes not permit <br />"qualified military service deemed severance withdrawals". <br />(f) Qualified Military Reservist Distributions . The Plan does not permit "qualified military <br />reservist withdrawals". <br />6.11 Qualified Distributions for Retired Public Safety Officers <br />A Participant who is an "eligible retired public safety officer" may elect to have qualified health <br />insurance premiums deducted from amounts to be distributed to the Participant from the Plan, <br />479