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I 01ii <br />17 <br />MAY - 51999 <br />ORANGE COUNTY PERSONNEL <br />April 30, 1999 <br />Ms. Elaine Holmes <br />Personnel Director <br />Orange County <br />208 S. Cameron St. <br />Hillsborough, NC 27278 <br />Re: NC 401(k) Employer Contributions <br />Dear Elaine: <br />ATTACHMENT 3 <br />Branch Banking & Trust Co. <br />State 401(k) Services <br />P.O. Box 29541 <br />Raleigh, NC 27626 -0541 <br />(919) 716 -9200 <br />1- 800 - 722 -4015 <br />To assist the County with its research of supplemental retirement contributions, I <br />have confirmed below the options available to the County through the NC 401(k) <br />Plan as I have discussed them with you: <br />1., Across the board contributions based on a percentage of compensation or <br />on a per capita basis (i.e., flat dollar amount). If allocated as a percentage of <br />compensation, the percentage must be the same for all eligible employees. <br />Likewise, if allocated on a per capita basis, the dollar amount of employer <br />contribution must be the same for all eligible employees. <br />2. Matching contributions based on a percentage of compensation or on a per <br />capita basis. Again, the percentage* or dollar amount must be the same for <br />all eligible employees. <br />3. A combination of across the board contribution and matching <br />contribution ,for example, a $10 per pay period across the board <br />contribution and a match of up to one percent of salary. Another example <br />would be a one percent across the board and a one percent match. Once <br />again, the percentage or dollar amount must be the same for all eligible <br />employees. <br />Access your NC 401(k) Plan account via the 401(k) Action Line at 1- 800 - 228 -6777 or the Web site at www.bbandt.com /nc401 k. <br />