2021 Impuesto sobre la renta estimado

Rule 14 establishes requirements for enrollment, changes to participation, suspension and resumption of contributions, submission of monthly contribution report and withdrawal. The Voluntary Investment Program is a 401(k) plan, known as PERA’s 401(k) Plan, established pursuant to Section 401(k) of the “Internal Revenue Code of 1986,” as amended. For the purposes of Rule 14, the term “member” shall include DPS members and the term “retiree” shall include DPS retirees.

14.10 Enrollment in the 401(k) Plan

A. Any employee of an affiliated employer may enroll in the 401(k) Plan. Enrollment shall be effective upon receipt by the Plan of contributions or a rollover for the member.

B. A person whose assets are transferred from the state defined contribution match plan to the 401(k) Plan pursuant to 24-51-1402(5)(a), C.R.S., shall be automatically enrolled in the 401(k) Plan.

14.15 Changes in 401(k) Plan Participation

Requests for changes in the percent of contributions assigned to each fund or the total amount in each fund must be submitted to the service provider designated by the Plan Administrator in accordance with the timeline as determined by the Administrator. Changes to contributions are effective the first day of the next following payroll period.

14.20 Suspension of Participation

A. A participant may stop contributions to the 401(k) Plan upon request. Changes are effective the first day of the next following payroll period.

B. A participant may resume contributions as soon as administratively practicable, except that contributions may not be resumed within six months after receipt of a hardship withdrawal. Changes are effective the first day of the next following payroll period.

14.30 Contribution Report

A. The employer shall deliver all 401(k) Plan contributions, along with the required report, to the service provider designated by the Plan Administrator within five days of the date contributions were deducted from the employee’s salary. If either the report or contributions are delinquent, interest shall be assessed and paid as specified in Rule 4.10.

B. The Plan Administrator shall prescribe the form in which 401(k) Plan contributions shall be reported.

14.40 Withdrawal

A. Upon Termination of Employment

B. Upon Attaining Age 59 1/2

A participant who has attained 59 1/2 years of age may withdraw monies from the 401(k) account prior to termination of employment.

C. Due to Hardship

(1) A participant who has not attained 591/2 years of age may apply for a hardship withdrawal after contributions to the 401(k) account have been suspended and after all other available withdrawals and loans have been made.

(2) A participant applying for hardship withdrawal must show an immediate and heavy financial need as prescribed in the 401(k) Plan document.

(3) Hardship withdrawals may not be obtained more than once in six months.

14.50 Loans

All eligible 401(k) participants may borrow monies from the 401(k) account subject to loan provisions established by the Board and specified in the Plan document.

14.65 Compliance with Internal Revenue Service Code

A participant may only contribute to the plan up to the maximum contribution limits established by the Internal Revenue Service each year. If a person contributes to another 401(k) plan in the same year as they contribute to the PERA plan, the person is responsible for compliance with the Internal Revenue Service Code regarding maximum allowable contributions.

14.70 Beneficiary Designations

(A) General Provisions

Designation of a beneficiary shall be made in the manner prescribed by the Association. Such designation shall take effect upon receipt by the Service Provider designated by the Association. Designation of a beneficiary may be changed by the participant at any time prior to death. If no such designation is in effect at the time of the death of the participant, or if no person, persons, or entity so designated shall survive the participant, the beneficiary shall be deemed to be the estate of the participant.

(B) Beneficiary Designation for Participants Whose Assets are Transferred to the Plan Pursuant to Section 24-51-1402(5)(a), C.R.S. and/or Rule 16.60 D

Effective July 1, 2009, a participant whose assets are transferred to the Plan pursuant to Section 24-51-1402(5)(a), C.R.S. and/or Rule 16.60 D, shall have the following beneficiary designation: (i) If the participant has an existing account balance with the Plan as of July 1, 2009, the

beneficiary for all assets in the account, including those assets transferred pursuant to Section 24-51-1402(5)(a), C.R.S. and/or Rule 16.60 D, shall be the beneficiary

designation in effect for the Plan, regardless of whether there was a different beneficiary designated for the assets transferred pursuant to Section 24-51-1402(5)(a), C.R.S. and/or Rule 16.60 D. If no such beneficiary designation for the Plan is in effect at the time of the death of the participant, or if no person, persons, or entity so designated shall survive the participant, the beneficiary shall be deemed to be the estate of the participant. (ii) If the participant does not have an existing account balance with the Plan as of July 1, 2009,

but has an account balance after July 1, 2009 as a result of the transfer of assets pursuant to Section 24-51-1402(5)(a), C.R.S. and/or Rule 16.60 D, the beneficiary of the account shall be the beneficiary, if any, designated with the service provider that held the assets prior to their transfer on July 1, 2009, as reported to PERA. However, if assets are transferred to the Plan pursuant to both Section 24-51-1402(5)(a), C.R.S., and Rule 16.60 D, and there are different beneficiary designations in effect for such assets, the beneficiary designations for such assets shall be null and void and the participant must designate a new beneficiary. All beneficiary designations can be changed in accordance with Rule 14.70 A. In the absence of a beneficiary designation, the beneficiary shall be determined in accordance with Rule 14.70 A.