5-Executed 401k Adoption Agreement.pdf

This is a Nonstandardized Governmental Profit Sharing/401(k) Plan Adoption Agreement #001 between the City of Tempe, Arizona and Nationwide Financial Services, Inc. The document establishes a governmental 401(k) savings and investment plan for City of Tempe employees, with the plan originally effective January 1, 1986, and restated effective December 2, 2024. The plan allows eligible employees to make salary deferrals and receive employer matching contributions, with various investment options and distribution provisions. The plan includes standard 401(k) features such as vesting schedules, loan provisions, and hardship distributions.

The plan permits salary deferrals up to IRS limits, with employer matching contributions available to eligible participants. The document includes provisions for different employee categories, including part-time, seasonal, and temporary employees, with specific eligibility requirements based on service hours and employment status. The plan administrator is designated as the City of Tempe, with Nationwide Financial Services serving as the recordkeeper and investment provider. The comprehensive agreement includes detailed sections covering employee eligibility, contribution limits, vesting schedules, distribution options, loan policies, and administrative procedures, reflecting standard governmental retirement plan structures designed to comply with federal regulations while serving municipal employees.