This excerpt taken from the EQR 10-Q filed May 8, 2008.
1.1 Purpose of Plan
EQR initially adopted the Plan to provide a means by which certain employees could elect to defer receipt of portions of their Compensation and to provide opportunities for such individuals to save for retirement and for the education of their children. As first amended and restated, the Plan also provided for the participation of non-employee trustees on the terms and conditions set forth herein. The Plan was frozen as of December 31, 2004 and the Plan and all accounts under it are intended to be grandfathered in all respects from the effects of Code Section 409A. A separate plan, the Equity Residential Supplemental Executive Retirement Plan was established with respect to deferrals which were not earned and vested as of December 31, 2004. Amounts which were not earned and vested as of December 31, 2004 and the earnings on those deferrals have been transferred to the Equity Residential Supplemental Executive Retirement Plan. This amendment and restatement shall apply to eligible employees and trustees from and after January 1, 2005.