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X Yes ?`� <br /> [Note to Employer: A determination letter issued to an <br /> - adoptin� Employer is not a rulina b}•the Internal Revenue <br /> Service that Participant contributions that are picked up b��the <br /> Emplo}'er are not includable in the Participant's aross income <br /> for federal income tax purposes. The Employer ma�� seek such <br /> a rulina. <br /> Picked up contributions aze excludable from the Participant's <br /> gross income under section 414(h)(2) of the Internal Re��enue <br /> , Code of 1986 only if tiiey meet the requirements of Re�•. Rul. <br /> 81-3�, 1981-1 C.B. 2». Those requirements are (1) that the <br /> Emplo��er must specify that the contributions, althou�h des- <br /> ignated as employee contributions, are being paid by the <br /> Emplo}�er in lieu of contributions b��the employee; and (2) the <br /> employee must not have the option of receiving the contributed <br /> amounts directly instead of havina them paid by the Employer <br /> to the plan.] <br /> ( ) Fited Employer Match of Participant Contributions. <br /> The Emplo}�er shall contribute on behalf of each Participant <br /> °�o of Earninas for the Plan Year(subject to the limitations <br /> of Article �' of the Plan) for each Plan Year that such <br /> Participant has contributed % of Eamings or � . linder <br /> this option. there is a sinale, fixed rate of Emplo}�er <br /> contributions. but a Participant ma��decline to mal:� the <br /> requir�d Participant contributions in an}' Plan Year, in w�hich <br /> - case no Employer contribution w�ill be made on the Participant's <br /> behal�in that Plan Year. <br /> ( ) Variable Employ�er Nlatch Of Participant Contributions. <br /> The Emplo}�er shall contribute on behalf of each Participant an <br /> amount determined as follo���s (subject to the limitations of <br /> Article V of the Plan): <br /> °�o of the contributions made b}�the Participant for the <br /> Plan ��ear (not including Participant contributions exceeding <br /> °o of Earnin�s or � l: <br /> PLt S °�o of the contributions made by the Participant for <br /> the Plan �"ear in e�cess of those included in the abo��e paraQraph <br /> (but not includin� Participant contributions exceedina in the <br /> ag�re�ate °ro of Earnings or S_�• <br /> MPP Adoption Asreement 03/2�i98 ' <br />