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Contributions
You
may contribute 3%, 4%, or 5% of your Base Pay on an after-tax basis. You may
change the percentage you contribute to the Plan by calling 1-800-685-6401 or
logging on to
www.ibenefitscenter.com. Changes
received by Putnam will be collected on the 15th of each month (or the first
business day thereafter if the 15th is a weekend or holiday). The change will
become effective with the first pay period of the following month. Thus, if you
make a contribution election on May 14, it will become effective in the first
pay period of June. If you make a contribution election on May 20, it will
become effective in the first pay period of July. If you make multiple changes
to your contribution rate during a one-month period, the last effective change
received will be used.
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