Following is an overview of how the Juniper Deferred Compensation Plan works. Please review this site and the plan document for additional details.
Plan Provision
How It Works
When you can enroll
You can enroll in December to defer:
Your base pay and commissions (if eligible) that will be earned in the coming year.
Your cash bonuses that will be earned in the coming year, but these may be paid in the following year.
If you first become eligible after the enrollment window closes:
During the first 45 days after you are notified of your eligibility, you can enroll to defer base pay, commissions (if eligible), and cash bonuses earned in the calendar year.
Note that no bonus deferral elections are taken after July 1 and no deferral elections for salary or commissions (if eligible) are taken after October 1.
Each year you enroll, you decide when and how the money you‘re deferring will be paid to you.
When: Choose to have your money paid either when you leave the company or on a specified date, whichever is earlier. If your money is paid after you leave Juniper, your distributions will begin no sooner than six months after your termination date. A distribution will also be triggered by your death.
How: Take your money as a lump sum or in annual installments paid over two to 15 years.
You cannot change your deferral percentage after the enrollment window has closed. Your next opportunity to change your deferral percentage will be during the next open enrollment window.
When you are vested
You are always fully vested in your deferrals.
Changing your distribution elections
You have limited ability to change your distribution elections:
You must make the change at least one year before distributions were scheduled to begin.
Your new distribution date must be at least five years later than the date you originally selected.
Withdrawals are available if you have an unforeseeable emergency. Such distributions must be approved by the Investment Committee. If approved, your distribution will be limited to the amount necessary to meet your financial need.
