Exhibit B1 - OCC Summary Plan Description.docx

January 1, 2022

SUMMARY PLAN DESCRIPTION

FOR

OFFICE OF THE COMPTROLLER OF THE CURRENCY 401(K) PLAN

Employer Identification Number: 72-0564834 Plan Number: 001

This is only a summary intended to familiarize you with the major provisions of the Plan. You should read this summary closely. If you have any questions and before you make any important decisions based on your understanding of the Plan from this summary, you should contact the Administrator.

HOW TO USE THIS SUMMARY

TABLE OF CONTENTS

The table of contents gives a detailed description of where specific information concerning a particular topic may be found.

GLOSSARY

Some terms used in the summary have special meanings. These terms are identified by capitalizing the term's first letter. To find out the exact meaning of a special term, review the glossary located at the end of this summary.

EFFECTIVE DATE

This booklet describes in easy-to-understand terms the principal features of the Plan as in effect on January 1, 2022. It updates and replaces any prior descriptions of the Plan. Some Plan provisions may be different for employees whose employment terminated before January 1, 2022.

MORE SPECIFIC INFORMATION

Some technical details and legal expressions contained in the formal Plan documents have been omitted in this summary. The formal Plan documents govern in administering and interpreting the rights of participants and their beneficiaries.

DAILY ADMINISTRATIVE CONTACT

The person or entity handling the day-to-day operations of the Plan is:

Senior Deputy Comptroller for OM/CFO, Chair of the OCC 401(k) Oversight Committee c/o Darryle Brown, 401(k) Program Administrator Office of the Comptroller of the Currency 400 7th Street, S.W.

Washington, D.C. 20219

(202) 649-6613

Any questions concerning the day-to-day operations of the Plan should be directed to the person or entity identified above.

TABLE OF CONTENTS

ii

INTRODUCTION TO YOUR PLAN

The Office of the Comptroller of the Currency 401(k) Plan helps you provide for your retirement security by making it simple and convenient for you to contribute to your retirement savings regularly. Your Employer may also make contributions to your Account to provide you with additional savings. The Plan is intended to meet federal tax law qualification requirements, allowing your savings to accumulate on a tax-deferred basis and permitting you to save more dollars for your retirement.

How You Save

Your Plan Account You have your own Account under the Plan to hold all contributions you make to the Plan and any contributions your Employer makes for you. Your Account also holds any investment earnings on those contributions. Your Account keeps track of your share of the assets held in the Plan.

Vesting of Your Account Your Vested Interest in your Account is the percentage of your Account that you would receive if your employment terminated.

Your Vested Interest in the balance of your Account resulting from your contributions is always 100%.

If you were hired on or after January 9, 2005, your Vested Interest in the balance of your Account resulting from Nonelective Contributions is determined under a vesting schedule, which requires you to complete a specified number of consecutive years of Service to earn a Vested Interest. (For more information about Vesting schedules, see EMPLOYER CONTRIBUTIONS: VESTED INTEREST IN EMPLOYER CONTRIBUTIONS.)

Distribution of Benefits You may receive distributions from your Vested Interest in your Account when any of the following happens:

Employer Discretion Your Employer has discretionary authority to interpret and construe the provisions of the Plan, to determine your eligibility for benefits under the Plan, and to resolve any disputes that arise under the Plan. Your Employer may delegate this authority as provided under the Plan.

PLAN IDENTIFICATION INFORMATION

Type of Plan The Plan is a "defined contribution plan". Under a defined contribution plan, all contributions you make to the plan or that are made on your behalf are held in an account that is invested on your behalf. When you retire, your retirement benefit from the plan will be based on the value of your account (including investment earnings and losses) at the time distribution is made to you.

The Plan is a type of defined contribution plan called a "profit-sharing plan". Contributions under a profit-sharing plan are not subject to funding requirements under federal tax law. Therefore, contributions may be discretionary. However, any contributions made under a profit-sharing plan must be allocated among participants under a formula that is described in the plan.

The Plan is also a "governmental plan" described in Code Section 414(d). That means it is subject to different rules and requirements under Federal law than a non-governmental plan and is subject to certain state law requirements.

The Plan is also a "401(k) plan". Under a 401(k) plan, you may elect to make contributions to the plan from your pay. Your contributions (called "401(k) Contributions" in this summary) may be either Pre-Tax 401(k) Contributions or Roth 401(k) Contributions. You do not pay any taxes on your Pre-Tax 401(k) Contributions or earnings until they are distributed to you. You pay taxes on your Roth 401(k) Contributions for the year of the contribution, but earnings accumulate tax-free and, if you satisfy certain requirements, are also excluded from your taxable income when distributed to you.

Administrator (This is the Plan Administrator for purposes of the Internal Revenue Code.)

Senior Deputy Comptroller for OM/CFO, Chair of the OCC 401(k) Oversight Committee c/o Darryle Brown, 401(k) Program Administrator Office of the Comptroller of the Currency 400 7th Street, S.W.

Washington, D.C. 20219

(202) 649-6613 Employer Office of the Comptroller of the Currency 400 7th Street, S.W.

Washington, D.C. 20219 Employer's Employer Identification Number 72-0564834 Plan Number Funding Medium Plan assets are held in a trust maintained by the Trustee.

Agent for Service of Legal Process Legal process may be served on:

Senior Deputy Comptroller for OM/CFO, Chair of the OCC 401(k) Oversight Committee c/o Darryle Brown, 401(k) Program Administrator

Office of the Comptroller of the Currency Plan Administrator of the Office of the Comptroller of the Currency 401(k) Plan 400 7th Street, S.W.

Washington, D.C. 20219

ELIGIBILITY TO PARTICIPATE

You may make contributions to the Plan and will be eligible to receive Employer Contributions (provided you satisfy any allocation requirements) immediately upon becoming a Covered Employee, as described below.

Covered Employees You are a Covered Employee if:

You have received an appointment of one or more year(s) of service. For this purpose, a "year of service" means 12 months from the date of "appointment" as defined in Section 300.703 of Title 5 of the Code of Federal Regulations, which defines "appointment" where "appointment" means any personnel action that brings you onto the rolls of the OCC.

AND

· You are not a former employee of the Office of the Thrift Supervision who transferred to the Office of the Comptroller of the Currency in accordance with Title III of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

· You are not, for purposes of the Additional Non-Elective Contribution, an Employee whose Compensation exceeds a threshold (if applicable, this is determined each Plan Year by the Employer for Bargaining Unit employees and Non-Bargaining Unit employees).

Transfers of Employment If you are transferred from other employment with your Employer to employment as a Covered Employee (as described in COVERED EMPLOYEES above), you will be eligible to participate beginning on your transfer date if you would have been eligible to participate on or before your transfer date had you been employed as a Covered Employee for your entire period of employment. Otherwise, you will be eligible to participate as provided above.

Reemployment If your employment terminates and you are later reemployed as a Covered Employee (as described in COVERED EMPLOYEES above), you will be eligible to participate beginning on your reemployment date.

YOUR CONTRIBUTIONS

401(k) Contributions If you elect to make 401(k) Contributions, you authorize your Employer to reduce the Compensation you would regularly receive by a specified amount. This amount is then deposited in your Account as a 401(k) Employee Contribution. You may elect to make Pre-Tax 401(k) Contributions and/or Roth 401(k) Contributions to the Plan. Once you have designated a 401(k) Contribution as either a Pre-Tax or Roth 401(k) Contribution, you may not later change its designation, unless you elect to convert Pre-Tax 401(k) Contributions to Roth 401(k) Contributions, as provided in YOUR CONTRIBUTIONS: IN-PLAN ROTH ROLLOVER CONTRIBUTIONS below. You may, however, change your designation with respect to future 401(k) Contributions. (See Change in Amount and/or Treatment of 401(k) Contributions below).

Pre-Tax 401(k) Contributions You do not pay federal income taxes (or, in many states, state income taxes) on Compensation you contribute to the Plan as Pre-Tax 401(k) Contributions for the year in which you make the contribution. Instead, your Pre-Tax 401(k) Contributions and earnings on your Pre-Tax 401(k) Contributions are only taxable when they are distributed from the Plan.

Roth 401(k) Contributions You pay federal income taxes and state income taxes on Compensation you contribute to the Plan as Roth 401(k) Contributions for the year in which you make the contribution. However, your Roth 401(k) Contributions are not taxable when they are distributed from the Plan. In addition, if certain conditions are satisfied, the earnings on your Roth 401(k) Contributions are also not taxable when distributed from the Plan.

There are 2 separate sets of requirements that must be satisfied for the distribution of the earnings on your Roth 401(k) Contributions to be non-taxable:

Automatic Contribution Arrangement – Automatic Enrollment Unless you are excluded from participating in the automatic contribution arrangement or you elect otherwise, beginning on the date you are first eligible to make 401(k) Contributions, your Employer will automatically withhold 1% of your Compensation each payroll period as 401(k) Contributions. You are excluded from the automatic contribution arrangement if:

401(k) Contributions made under the automatic contribution arrangement will be treated as Pre-Tax 401(k) Contributions.

You may elect instead to make 401(k) Contributions in a different amount or not at all. You may also elect to have your automatic contributions treated as Roth 401(k) Contributions instead of Pre-Tax 401(k) Contributions. To make such an election, you must notify the Administrator as described in How to Make an Election below. To avoid having any 401(k) Contributions made under the automatic arrangement, your election must be made before the end of the 45-day declination period after you become eligible.

Please note: Affirmative elections out of the automatic contribution arrangement expire under certain circumstances. If you do not make (1) an affirmative election, (2) a deferral election (combined pre-tax, after-tax, and Roth) at or above 1%, or (3) a flat dollar deferral election, your deferral election will expire at the end of each Plan Year and 1% will automatically be withheld from your Compensation unless you elect otherwise as described above. If you terminate employment and are rehired, your affirmative election will expire and 401(k) Contributions will be made for you under the automatic contribution arrangement, unless you make another election.

If you do not make an affirmative election otherwise, your Employer will continue to withhold 1% of your Compensation each payroll period as 401(k) Contributions until you suspend or change the amount of your contributions, as described in Change in Amount and/or Treatment of 401(k) Contributions below.

How to Make an Election To make 401(k) Contributions in a different amount than under the automatic contribution arrangement (or not at all), you must notify the Administrator of your election in accordance with the rules established by the Administrator within the prescribed election period. Your election must specify the portion of your 401(k) Contributions to be treated as Pre-Tax 401(k) Contributions and the portion to be treated as Roth 401(k) Contributions.

Permissible Withdrawal of Automatic Contributions If you do not elect out of the automatic contribution arrangement before 401(k) Contributions are automatically made for you, you may withdraw the amounts contributed on your behalf. To make a withdrawal, you must contact the Administrator within 90 days of the date the first automatic 401(k) Contribution is made for you. You may not elect a withdrawal after that 90-day period. The withdrawal will be equal to the total automatic 401(k) Contributions made for you through the effective date of the withdrawal, adjusted for allocable gains and losses and for any applicable fees.

Amount of 401(k) Contributions You may contribute from 1% of your Compensation up to the maximum permitted by the Plan as 401(k) Contributions. However, you may not elect to make 401(k) Contributions as a whole percentage which is less than 1% of Compensation or as a whole dollar amount which is less than $10.00.

Commencement of 401(k) Contributions 401(k) Contributions will be made from your Compensation as provided in your election beginning as soon as reasonably practicable after the date your election is effective.

Change in Amount and/or Treatment of 401(k) Contributions You may change the amount your Employer withholds from your future Compensation or change the portion of your 401(k) Contributions treated as Pre-Tax and Roth 401(k) Contributions effective as of any business day during the Plan Year. To change the amount or treatment of your 401(k) Contributions, you must notify the Administrator in accordance with the rules established by the Administrator. Any change in your election must specify the portion of your future 401(k) Contributions to be treated as Pre-Tax 401(k) Contributions and the portion to be treated as Roth 401(k) Contributions.

Suspension of 401(k) Contributions You may direct your Employer to stop withholding amounts from your future Compensation and suspend your 401(k) Contributions at any time. To suspend your 401(k) Contributions, you must notify the Administrator in accordance with the rules established by the Administrator. The suspension will take effect as soon as reasonably practicable after you notify the Administrator.

If you suspend your 401(k) Contributions, the suspension will remain in effect until you elect to resume making 401(k) Contributions again.

Resumption of 401(k) Contributions If you suspend your 401(k) Contributions, you may resume making 401(k) Contributions effective as of any business day during the Plan Year. To resume your 401(k) Contributions, you must notify the Administrator in accordance with the rules established by the Administrator. Your notice to resume 401(k) Contributions must specify the portion of your future 401(k) Contributions to be treated as Pre-Tax 401(k) Contributions and the portion to be treated as Roth 401(k) Contributions.

Annual Federal Limit on Amount of 401(k) Contribution Federal law limits the amount of 401(k) Contributions (including both Pre-Tax and Roth 401(k) Contributions) that you can make to the Plan each calendar year. For 2022, the maximum amount is $20,500. The IRS may adjust this limit each year. If the Administrator determines that the amount you authorize your Employer to withhold from your Compensation would exceed the maximum amount permitted for the year, the Administrator will adjust the amount withheld so that it does not exceed the maximum.

Catch-Up 401(k) Contributions If you will be age 50 or older by the end of the calendar year, you may make Catch-Up 401(k) Contributions for that year that exceed the annual Federal limit above. If you are eligible to contribute to 401(k) Catch-Up Contributions, once your 401(k) Contributions (including both Pre-Tax and Roth 401(k) Contributions) reach the annual federal limit, your 401(k) Contributions will automatically spillover to Catch-Up 401(k) Contributions. Your total Catch-Up 401(k) Contributions for a year cannot exceed the Catch-Up Limit in effect for the year.

Rollover Contributions If you are a Covered Employee, you may elect to rollover qualified distributions to the Plan. You may also elect to rollover qualified distributions to the Plan if you are a former employee who still has an Account under the Plan.

Your Rollover Contributions are subject to all the terms and conditions of the Plan and are only distributable to you under the terms of the Plan.

Savings Eligible for Direct Rollover The Plan permits "direct rollovers" from the following:

A "direct rollover" is a rollover made directly from another plan or annuity without being distributed to you first.

If you have an outstanding loan under another plan or annuity, you may not rollover the loan note as part of your Rollover Contribution.

Savings Eligible for Indirect Rollover The Plan permits "indirect rollovers" from the following:

An "indirect rollover" is a rollover you make to the Plan of amounts you have actually received as a distribution from another plan or annuity. You may not make an indirect rollover to the Plan of after-tax employee contributions or, except as provided above, Roth contributions.

Rollover Procedures The Administrator may require you to provide information to show that the savings you want to rollover meet the Plan requirements.

If the distribution qualifies, you may roll it over into the Plan by having it delivered to the Trustee. If you actually receive distribution of the amount you are rolling over, your Rollover Contribution must be delivered to the Trustee within 60 days of the date you receive it.

Treatment of After-Tax and Designated Roth Rollover Contributions If you make After-Tax Rollover or Designated Roth Rollover Contributions to the Plan, those amounts will be accounted for separately from your other Rollover Contributions. This is required so that the Plan can keep track of the non-taxable portion of the rollover.

In-Plan Roth Rollover Contributions You may elect at any time to make an In-Plan Roth Rollover Contribution of any part of your Account in which you are 100% vested that is eligible for direct rollover and that is not already attributable to Roth 401(k) Contributions. In-Plan Roth Rollover Contributions are treated similarly to Roth 401(k) Contributions. Thus, your In-Plan Roth Rollover Contributions and, if certain conditions are satisfied, the earnings on your In-Plan Roth Rollover Contributions, are not taxable when distributed from the Plan.

Notwithstanding any other provision of the Plan to the contrary, spousal consent shall not be required to make an In-Plan Roth Rollover Contribution. Further, active and terminated Participants may elect to make an In-Plan Roth Rollover Contribution.

Please Note: Once any part of your Account is converted to In-Plan Roth Rollover Contributions, you may not later undo your election.

In-Plan Roth Rollover Procedures If you, your surviving Spouse, or your Spouse who is an alternate payee under a qualified domestic relations order could receive a non-hardship withdrawal, as described in IN-SERVICE WITHDRAWALS or, a distribution because of your termination of employment that would be eligible for direct rollover (as described in FORM OF PAYMENT: FORM OF PAYMENT TO YOU) and that is not already attributable to Roth 401(k) Contributions, you or your eligible Spouse may elect, in accordance with rules prescribed by the Administrator, to convert any part of your Account that is not already attributable to Roth 401(k) Contributions and in which you have a 100% Vested Interest to an In-Plan Roth Rollover Contribution.

If you or your eligible Spouse elect to make an In-Plan Roth Rollover Contribution, the taxable amount of your converted Account will be included in your federal taxable income for the taxable year in which the In-Plan Roth Rollover Contribution is made. Later distributions of your In-Plan Roth Rollover Contributions will be taxable as described in DISTRIBUTION OF YOUR ACCOUNT: SPECIAL TAX RULES APPLICABLE TO DISTRIBUTIONS.

For additional information regarding, or to make, an In-Plan Roth Rollover Contribution, you should contact the Administrator Special Rules The following special rules apply to your In-Plan Roth Rollover Contributions.

After-Tax Contributions You may elect to make After-Tax Contributions to the Plan by payroll withholding (similarly to 401(k) Contributions) or in a lump sum, as described below.

After-Tax Contributions by Payroll Withholding If you elect to make After-Tax Contributions by payroll withholding, you authorize your Employer to reduce the amount of the Compensation you would regularly receive by a specified amount. This amount is then deposited in your Account as an After-Tax Contribution. You pay federal and state income taxes on Compensation you contribute to the Plan as After-Tax Contributions for the year in which you earned the Compensation. However, these amounts are not taxed when they are distributed from the plan.

How to Make an Election To make After-Tax Contributions, you must notify the Administrator of your election in accordance with the rules established by the Administrator.

Amount of After-Tax Contributions by Payroll Withholding You may contribute from 1% of your Compensation as After-Tax Contributions up to the maximum permitted by the Plan. However, you may not elect to make an After-Tax Contribution as a whole percentage which is less than 1% of Compensation or as a whole dollar amount which is less than $1.00.

You may also contribute up to 100% of the gross amount of your leave cash-out Compensation (excluding comp time and credit hour pay). With respect to annual leave cash-out Compensation, the lump sum contribution must be received by the Plan by the last day of the calendar quarter in which the leave cash-out Compensation is paid. With respect to leave cash-out Compensation received after severance from employment, the lump sum contribution must be received by the Plan no later than 60 days after your severance from employment.

Commencement of After-Tax Contributions by Payroll Withholding After-Tax Contributions will be made from your Compensation as provided in your election beginning as soon as reasonably practicable after the date your election is effective.

Change in Amount of After-Tax Contributions by Payroll Withholding You may change the amount your Employer withholds from your future Compensation effective as of any business day during the Plan Year. To change the amount of your After-Tax Contribution, you must notify the Administrator in accordance with the rules established by the Administrator.

Suspension of After-Tax Contributions by Payroll Withholding You may direct your Employer to stop withholding amounts from your future Compensation and suspend your After-Tax Contributions at any time. To suspend your After-Tax Contributions, you must notify the Administrator in accordance with the rules established by the Administrator. The suspension will take effect as soon as reasonably practicable after you notify the Administrator.

If you suspend your After-Tax Contributions, the suspension will remain in effect until you elect to resume making After-Tax Contributions again.

Resumption of After-Tax Contributions by Payroll Withholding If you suspend your After-Tax Contributions, you may elect to resume making After-Tax Contributions effective as of any business day during the Plan Year. To resume your After-Tax Contributions you must notify the Administrator in accordance with the rules established by the Administrator.

Vested Interest in Your Contributions Your Vested Interest in the Value of your contributions to the Plan is always 100%.

EMPLOYER CONTRIBUTIONS

In addition to your contributions, your Employer may make Employer Contributions to your Account. You are not taxed on any Employer Contributions made to your Account until distribution is made to you.

Matching Contributions Matching Contributions Once you have met the requirements to participate in the Plan, as described in ELIGIBILITY TO PARTICIPATE: ELIGIBILITY REQUIREMENTS above, you may receive Matching Contributions biweekly.

If you are eligible, biweekly your Employer, in its discretion, may make a Matching Contribution to your Account equal to a percentage, determined by your Employer, of your 401(k) Contributions and After-Tax Contributions to the Plan for the biweekly period. Generally, your Employer will match a percentage of your gross contributions for the payroll period, rather than applying the percentage separately to each contribution type. Your Employer may make Matching Contributions in different amounts for different employee groups, based on non-discriminatory criteria such as job classification. Your Employer will also match your Catch-Up 401(k) Contributions to the Plan. The Employer generally has determined a 1% Matching contribution each payroll period. This amount is determined at the discretion of the Employer and is subject to change at any time.

Notwithstanding any other provision of the Plan to the contrary, the Consumer Financial Protection Bureau shall be an Employer solely for the purpose of allowing Transferees to receive Matching Contributions in accordance with the terms of the Plan. A "Transferee" means any individual who transfers from the Office of the Comptroller of the Currency to the Consumer Financial Protection Bureau in accordance with Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Transferees who do not otherwise elect to participate in the Federal Reserve Retirement and Thrift Plan in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act shall remain Eligible Employees under the Plan.

Limitations on Matching Contributions Your 401(k) Contributions and After-Tax Contributions are not included in determining the amount of the Matching Contributions your Employer makes to your Account if:

They exceed the dollar amount or percentage of Compensation elected by your Employer for the Plan Year.

Nonelective Contributions Standard Nonelective Contributions Once you have met the requirements to participate in the Plan, as described in ELIGIBILITY TO PARTICIPATE: ELIGIBILITY REQUIREMENTS above, you may receive standard Nonelective Contributions for a period that is determined by the Employer in its discretion.

If you are eligible during the period determined by the Employer, you may receive a standard Nonelective Contribution to your Account equal to a percentage of your Compensation as determined by your Employer. The Employer generally has determined a 4% Nonelective Contribution each payroll period. This amount is determined at the discretion of the Employer and is subject to change at any time.

Additional Discretionary Nonelective Contributions If you are eligible, each Plan Year your Employer may also, in its discretion, make an Additional Discretionary Nonelective Contribution to your Account in a uniform dollar amount determined by the Employer. To receive an Additional Discretionary Nonelective Contribution, if any, for a Plan Year, you must be employed on the last day of the last full pay period of the federal government’s fiscal year.

Vested Interest in Employer Contributions Vesting Schedule Your Vested Interest in the following contributions is always 100%:

Matching Contributions.

· Nonelective Contributions, if you were hired prior to January 9, 2005.

If you were hired on or after January 9, 2005, your Vested Interest in the Value of the Nonelective Contributions in your Account is 0% until you have completed three consecutive years of service with the Office of the Comptroller of the Currency. Upon completion of three consecutive years of service with the Office of the Comptroller of the Currency, your Vested Interest in the Value of the Nonelective Contributions in your Account will be 100%.

Prior vesting service will be excluded if you are not vested at the time you terminate from employment.

Special Vesting Events Notwithstanding the foregoing, if you are employed by your Employer on your Normal Retirement Date or the date you die or become Disabled, your Vested Interest in your full Account will be 100%. If you are absent from employment because of military service and you die or become Disabled while performing "qualified" military service (as described in the Uniformed Services Employment and Reemployment Rights Act of 1994), you are treated as if you died or became Disabled while employed by your Employer.

Vesting Service Vesting Service is used to determine your Vested Interest under the applicable schedule above.

Crediting of Vesting Service You are credited with Vesting Service from your hire (or rehire) date until your Severance Date.

You are credited with Vesting Service for employment with the Employer and a Predecessor Employer (provided the Employer maintains a plan of that Predecessor Employer).

If you are absent from employment with an Employer because of military service, and you die while performing "qualified" military service (as described in the Uniformed Services Employment and Reemployment Rights Act of 1994), you will be credited with Vesting Service for the period you were absent as if you returned to work immediately before your death.

Excluded Vesting Service The following Vesting Service that would otherwise be credited to you under the rules above is excluded in determining your Vested Interest in the Value of the Employer Contributions (including any investment gains or losses on them) in your Account:

When determining the vested interest in your Account that you earn after you are rehired, Vesting Service completed before you were rehired regardless whether you incur in Service if you were not vested when you originally terminated employment.

PLAN INVESTMENTS

Where Plan Contributions are Invested You direct how the contributions made to your Account are invested. You may direct that contributions be invested in any of the funds made available to you under the Plan. The Investment Fiduciary will provide you with a description of the different investment funds available. New investment funds may be added and existing funds changed. The Investment Fiduciary will update the description of the available funds to reflect any changes.

Making Investment Elections Investment Elections When you become eligible to participate in the Plan, you must notify the Administrator of your investment elections in accordance with the rules established by the Administrator. Your investment election must specify the percentage of contributions to your Account that will be invested among the available investment funds.

Failure to Direct Investments If you do not direct how contributions to your Account should be invested, the contributions will be invested as directed by the Investment Fiduciary.

Change of Investment Elections You may change how contributions to your Account are invested effective as of the date or dates prescribed by the Administrator. To perform this transaction you must notify the Administrator in accordance with the rules established by the Administrator.

Transfers Between Funds You may transfer any amount greater than $1.00 held in your Account from one investment fund to another investment fund. You must specify the amount that is to be transferred.

A transfer may be made effective as of the date or dates prescribed by the Administrator. To make a transfer, you must notify the Administrator in accordance with the rules established by the Administrator.

Restrictions on Transfers To prevent excessive or abusive trading or "market timing", the Administrator may prescribe rules that limit the number of transfers that you can make during a specified period or that otherwise prevent this abuse. For more information, contact the Administrator.

VALUING YOUR ACCOUNT

The Value of your Account is periodically adjusted to show any earnings or losses on your investments, any distributions that you have received, and any contributions that have been made to your Account since the preceding adjustment date. Legal rules require this adjustment to be made at least annually.

The Value of your Account may increase or decrease at any time due to investment earnings or losses. You are only entitled to receive from the Plan the Value of your Vested Interest in your Account on the date distribution is made to you. That Value will be determined on the adjustment date immediately preceding the date of distribution and may be larger or smaller than the Value determined on any other adjustment date. The Plan fiduciaries and functionaries handling Plan assets (including the Sponsor, your Employer, the Investment Fiduciary, the Administrator, and the Trustee) do not guarantee your Account from investment losses.

LOANS FROM YOUR ACCOUNT

The Plan provides for loans to participants from their vested Accounts. Loans from the Plan are governed by a separate loan policy adopted by the Administrator. The Administrator can provide you with a copy of the policy governing Plan loans.

Application for Loan You may apply for a loan from your Account in accordance with the rules prescribed by the Administrator.

Federal Tax Rules Governing Plan Loans For the Plan to retain its tax-qualified status (that allows your retirement savings to accumulate on a tax-deferred basis), any Plan loan must meet the following minimum requirements:

The loan guidelines provided by the Administrator may have more stringent requirements than the federally required minimum. In that case, any Plan loan must meet the more stringent requirements set forth in the loan guidelines.

Collateral for Loan If you receive a Plan loan, a portion of your Vested Interest in your Account will be used as collateral for the loan. You may not receive a loan in excess of 50% of your Vested Interest. If a Plan loan is still outstanding at the time distribution of your Account is to be made, the amount distributed will be reduced by the portion of your Account being held as collateral for the loan, but only to the extent necessary to repay the loan.

Default on Loan You will not receive a Plan loan unless you agree that your Account may be charged for unpaid principal and interest if you default on the loan. A Plan loan will be declared to be in default if either (1) you fail to make required payments within the period required under the loan note to prevent default (which cannot be later than the end of the calendar quarter following the calendar quarter in which the payment was due) or (2) there is an outstanding principal balance after the last scheduled repayment date.

IN-SERVICE WITHDRAWALS

Under certain circumstances, you may make a cash withdrawal from your Account while you are still employed by your Employer.

Non-Hardship Withdrawals of Your Contributions If you meet the applicable requirements indicated below, if any, you may withdraw all or part of the Value of the following contributions you made (or were made on your behalf) to your Account:

Your withdrawal will be effective as soon as administratively practicable after your election is received.

Non-Hardship Withdrawals of Employer Contributions If you meet the applicable requirements indicated below, you may withdraw all or part of the Value of your Vested Interest in the following Employer Contributions held in your Account:

Your withdrawal will be effective as soon as administratively practicable after your election is received.

Withdrawals While Absent on Military Duty If you are absent from employment with your Employer to perform military service, you may be entitled to withdraw amounts from your Account.

Deemed Severance of Employment Withdrawals If you are absent from employment for more than 30 days because of service with the uniformed services (as described in United States Code, Title 38, Chapter 43), federal law permits the Plan to treat you as if you had terminated employment, but solely to allow you to withdraw amounts from your Account that are not otherwise available for withdrawal. (This summary does not address the effect of military leave on your other employer-provided benefits.) If you are deemed to have terminated employment for this purpose, you may withdraw all or part of the Value of the following contributions:

Your withdrawal will be effective as soon as administratively practicable after your election is received.

If you take a withdrawal because of your deemed severance of employment, you will not be permitted to make 401(k) and After-Tax Contributions to the Plan (or any other plan maintained by the Employer) for 6 months from the date of the withdrawal. This suspension requirement will not apply if your withdrawal qualifies as a qualified reservist distribution, as described below.

Qualified Reservist Distributions If you are a reservist or national guardsman and are called to active duty either (1) for an indefinite period or (2) for a period longer than 179 days, any withdrawal you make because of your deemed severance of employment, as described above, will qualify as a "qualified reservist distribution." You may also elect to make a separate withdrawal of all or a portion of the Value of the following contributions as a "qualified reservist distribution":

A qualified reservist distribution must be made during the period beginning on the date you are ordered or called to active duty and ending on the date your period of active duty ends. Your distribution is not subject to the 10% penalty tax on early distributions described in DISTRIBUTION OF YOUR ACCOUNT: SPECIAL TAX RULES APPLICABLE TO DISTRIBUTIONS. In addition, federal law permits you to repay the amount of a qualified reservist distribution to an IRA within 2 years after you cease active duty. This permits you to build back your retirement funds. Finally, if your withdrawal is a qualified reservist distribution, you will not be subject to the 6 months suspension on making 401(k) Contributions and After-Tax Contributions to the Plan that applies to withdrawals because of a deemed severance from employment, as described in Deemed Severance from Employment Withdrawals above.

Your qualified reservist distribution will be effective as soon as administratively practicable after your election is received.

Hardship Withdrawals If you incur an immediate and heavy financial need, you may withdraw all or part of the Value of the following contributions held in your Account: