The Hartford 2008 Annual Report Download - page 760

ARTICLE FOUR
MEMBER CONTRIBUTIONS
4.1 Member Before-Tax Savings.
(A) Salary Reduction Election for Before-Tax Savings . A Member may elect, subject to the IRS limits described in
Article Six and any other Plan limits, to have his or her Salary reduced (by payroll deduction) by a whole percent not
exceeding 30%, and to have that amount contributed to the Trust Fund as Before-Tax Savings. Such election shall be
made in the manner and by the date required by the Plan Administrator, and shall be effective with the next payroll paid
after the election (or as soon as practicable thereafter). A Member’s election shall continue to apply notwithstanding a
change in his or her principal employer from one Participating Corporation to another Participating Corporation, unless
the Member changes or suspends his or her Salary reduction rate or savings as permitted by the Plan. The Plan
Administrator may establish a separate limit on the percentage of Salary that a Highly Compensated Member may
contribute to the Trust Fund as Before-Tax Savings.
(B) Types of Before-Tax Savings; Crediting of Before-Tax Savings to Accounts.
(i) Basic Before-Tax Savings. Before-Tax Savings that do not exceed 6% of a Member’s Salary for the period
during which such contributions are made shall be known as “Basic Before-Tax Savings,” and shall be credited to
the Member’s Basic Before-Tax Investment Account.
(ii) Supplemental Before-Tax Savings. Before-Tax Savings that exceed the maximum allowed under the
preceding paragraph shall be known as “Supplemental Before-Tax Savings,” and shall be credited to a Member’s
Supplemental Before-Tax Investment Account. Supplemental Before-Tax Savings may also include Catch-Up
Savings made prior to January 1, 2006 and amounts credited on a Member’s behalf pursuant to a Prior Plan
Transfer.
(C) Before-Tax Catch-Up Savings . All Members who are eligible to make Before-Tax Savings, who will have
attained age 50 before the close of the Plan Year, and who have contributed at least 6% of Salary in any combination of
Before-tax, Roth 401(k) or After-Tax Savings, may elect to make Before-Tax Catch-Up Savings which, when taken
together with a Member’s Before-Tax Savings, Roth 401(k) Savings, Roth 401(k) Catch-Up Savings and After-Tax
Savings, equal up to 75% of a Member’s Salary for a pay period. Such Before-Tax Catch-Up Savings shall be made in
accordance with, and subject to, the limitations of Code Section 414(v) and in addition, when combined with any Roth
401(k) Catch-Up Savings, will not exceed 69% of a Member’s Salary. Such Before-Tax Catch-up Savings shall not be
taken into account for purposes of the limitations of Code Sections 402(g) and 415. The Plan shall not be treated as
failing to satisfy the provisions of the Plan implementing the requirements of Code Section 401(k)(3), 401(k)(11),
401(k)(12), 410(b) or 416, as applicable, by reason of any Member making such Before-Tax Catch-Up Savings
hereunder. Prior to January 1, 2006, Before-Tax Catch-Up Savings shall be credited to a Member’s Supplemental
Before-Tax Investment Account; on and after January 1, 2006, Before-Tax Catch-Up Savings shall be credited to a
Member’s Before-Tax Catch-Up Contributions Account.
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Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009