The Hartford 2008 Annual Report Download - page 758

ARTICLE THREE
MEMBERSHIP
3.1 Eligibility for Membership. Effective January 1, 2008, an Eligible Employee will be immediately eligible to become a
Member for purposes of making contributions to the Plan described in Article III and Article IV of the Plan.
3.2 Becoming a Member by Making an Enrollment Election. An Eligible Employee who is eligible to become a Member
shall become a Member by making an enrollment election before an Enrollment Date and in the manner and by the time
required by the Plan Administrator. By making an enrollment election, the Eligible Employee: (A) designates the rate of his
or her After-Tax Savings, (B) authorizes the Company to make regular payroll deductions of the amount of his or her
After-Tax Savings, if any, (C) designates the rate of his or her Before-Tax Savings, Roth 401(k) Savings and any
Before-Tax Catch-Up and Roth 401(k) Catch-Up Savings, (D) authorizes the Company to reduce his or her Salary by the
amount of his or her Before-Tax Savings and/or Roth 401(k) Savings and Before-Tax Catch-Up and Roth 401(k) Catch-Up
Savings, if any, (E) makes an investment election as described in Article Seven, (F) designates a beneficiary for his or her
Accounts, and (G) makes a dividend election as described in Section 7.6, if applicable.
3.3 Failure to Make Proper Enrollment Election. In the case of an Eligible Employee who is hired on or after January 1,
2008, who is eligible to become a Member but does not make a proper enrollment election, such Eligible Employee shall
automatically become a Member hereunder 60 days after the date such Eligible Employee is eligible to become a Member
(or as soon as practicable thereafter). Such Eligible Employee shall be deemed to have made elections to: (A) designate a
3% rate of Before-Tax Savings, (B) designate a zero rate of After-Tax Savings, (C) designate a zero rate of Roth 401(k)
Savings, (D) designate a zero rate of Before-Tax Catch-Up Savings and Roth 401(k) Catch-Up Savings, (E) invest his or her
Savings in the applicable Default Vanguard Target Retirement Fund set forth in Section 8.3(H), and (F) designate his or her
Spouse as Beneficiary hereunder if such Member is married, and to designate his or her estate as Beneficiary hereunder if
such Member is unmarried. Such an Eligible Employee may elect to change such deemed elections as permitted by the Plan.
Upon completion of six months of Service, such an Eligible Employee shall be entitled to Floor Company Contributions
under the Plan as of such date.
3.4 Automatic Increase Program. Unless he or she elects otherwise, a Member who is automatically enrolled in the Plan in
accordance with Section 3.3 will have his or her rate of Before-Tax Savings increased by one percent each April 1st;
provided that as of April 1st, it has been at least six months since the date the Member was automatically enrolled in the
Plan. Such increased rate will not exceed 10% of such Member’s Salary or cause the Member’s Before-Tax Savings to
exceed any Plan limits or limits imposed by the IRS.
Members who are not automatically enrolled in the Plan may elect to have their rate of Before-Tax Savings automatically
increased by a percentage they elect (up to 10%) on April 1st of each year, or another date they may choose, up to the Plan
limit or limits imposed by the IRS.
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Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009