The Hartford 2008 Annual Report Download - page 763

4.3 Member After-Tax Savings.
(A) Salary Reduction Election for After-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 deductions) by a whole percent not
exceeding 30%, and to have that amount contributed to the Trust Fund as After-Tax Savings, except that a Member
may not elect to contribute After-Tax Savings of more than the difference between 30% of Salary and the amount of
Before-Tax Savings plus Roth 401(k) Savings properly elected. 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, lower limit on the percentage of Salary that a Highly Compensated Member may contribute to the Trust Fund
as After-Tax Savings. The Plan Administrator may also provide for Member elections as to whether After-Tax Savings
are to commence automatically when a Member’s Before-Tax and Roth 401(k) Savings reach the maximum allowed
under Code Section 402(g) for a Plan Year.
(B) Types of After-Tax Savings; Crediting of After-Tax Savings to Accounts.
(i) Basic After-Tax Savings. After-Tax Savings that do not exceed the difference between 6% of a Member’s
Salary for the period during which such contributions are made and the amount credited as Basic Before-Tax
Savings and Basic Roth 401(k) Savings for that period shall be known as “Basic After-Tax Savings” and shall be
credited to the Member’s Basic After-Tax Investment Account.
(ii) Supplemental After-Tax Savings. After-Tax Savings that exceed the maximum allowed under the preceding
paragraph shall be known as “Supplemental After-Tax Savings” and shall be credited to the Member’s
Supplemental After-Tax Investment Account. Supplemental After-Tax Savings may also include amounts credited
on a Member’s behalf pursuant to a Prior Plan Transfer.
(C) Change in Salary Reduction Election for After-Tax Savings . A Member may elect to change the rate of his or
her Salary reduction for After-Tax Savings as of any business day by giving notice to the Company in the manner and
by the date required by the Plan Administrator. The changed rate of Salary reduction shall be effective as of the next
payroll period (or as soon as practicable thereafter).
(D) Vesting of After-Tax Savings . After-Tax Savings credited to a Member’s Accounts shall at all times be fully
vested and nonforfeitable.
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Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009