Eligible Cooperatives

Eligible Cooperatives. Those Cooperatives that: (a) Adopt the Amended and Restated Deferred Compensation PRP prior to January 1, 2015, provided they have an employee that is eligible to participate no later than December 31, 2014, or (b) Did not adopt the Amended and Restated Deferred Compensation PRP prior to January 1, 2015, but who following 2014 subsequently identify an employee as having compensation as defined by the Cooperative's RS Plan in excess of the applicable Code Section 401(a)(17) maximum... compensation amount for benefits earned during the 2014 Plan Year, and who subsequently adopt the Deferred Compensation PRP prior to December 31, 2015 retroactive to January 1, 2015. Such Cooperative will become eligible effective January 1, 2015, provided the covered employee or employees are part of the Grandfathered Group Participants, and provided further the Cooperative agrees to pay to the RS Plan trust amounts attributable to compensation in excess of the Code Section 401(a)(17) limits that would have been paid to the trust if the employee had begun participation in the first year the employee was eligible to participate View More