You are required to make a distribution election for each deferral. You decide:
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When your money will be paid
You will be required to make a specific election regarding how your deferrals will be paid if you leave or retire from Juniper. If you prefer to have your money paid on a specific date while you are still an active Juniper employee, you can make that election as well. Your money will then be paid on whichever event you reach first.
Note: If you choose to have your money paid on a specific date, you must select a date at least two full calendar years beyond the end of the calendar year in which you are making the deferrals. For example, deferrals made in 2012 cannot be paid out before 2014.
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How your money will be paid
You can choose to take your money either as a lump sum or in annual installments from two to 15 years.
If you leave or retire from Juniper
If you die
If you are disabled
If you have an unforeseeable emergency
Making changes to your distribution elections
The distribution election you made when you elected to defer a particular year’s compensation will remain in effect unless you change it. If you decide to make a change, remember:- Elections to change must be made at least 12 months prior to the date you originally elected to receive payment of the deferral.
- The first payment must be deferred for at least five years after the original payment date.
- If you decide to change a distribution election after you have left the company, you can defer your payment for up to 15 years beyond the date you originally selected.
If you leave or retire from Juniper
- Your distributions will begin no sooner than six months after you leave the company.
- Your balance is normally distributed to you in a lump sum. However, when you make your deferral elections, you can choose to have your balance paid in annual installments over two to 15 years.
- If your balance is less than $15,000 when you leave or retire, or if you have less than four years of service, your balance will be distributed to you in a lump sum.
If you die
- When you enroll, you must designate a beneficiary to receive your balance.
- If you die before you have received your entire balance, your beneficiary will receive the rest of your balance in a lump sum amount (even if you have elected to receive or are receiving installment payments).
If you are disabled
- If you experience a long-term disability, you will receive your balance in the way you elected to have it paid to you.
If you have an unforeseeable emergency
- You may receive a "hardship" distribution if you experience a financial emergency.
- Your request for a distribution must receive Investment Committee approval.
- You will receive your distribution within 60 days of receiving committee approval.
The Deferred Compensation Plan is a nonqualified plan, making it exempt from certain IRS limitations and requirements. Assets of the Plan are held in a grantor trust established by Juniper Networks. The Plan is not qualified under IRS regulations. Any account established for you under the Plan would be subject to the claims of Juniper Networks’ creditor(s) in the event of a bankruptcy filed by Juniper Networks. Please call Fidelity Investments at 800-835-5097, Monday through Friday (excluding New York Stock Exchange holidays) between 8:30 a.m. and midnight, Eastern time (5:30 a.m. and 9 p.m., Pacific time) to speak with a Service Center representative for specific provisions of the plan.
If there is a discrepancy between any information on this site and the plan document, the plan document will govern.
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