Nationwide_457(b)_Adoption_Agreement.pdf

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GOVERNMENTAL 457(b) PLAN

ADOPTION AGREEMENT

By executing this Governmental 457(b) Plan Adoption Agreement (the "Agreement"), the undersigned Employer agrees to establish or continue a 457(b) Plan for its Employees. The Plan adopted by the Employer consists of the Governmental 457(b) Basic Plan Document (the "BPD") and the elections made under this Agreement (collectively referred to as the "Plan"). An Employer may jointly co-sponsor the Plan by signing a Participating Employer Adoption Page, which is attached to this Agreement. This Plan is effective as of the Effective Date identified on the Signature Page of this Agreement.

In completing the provisions of this Adoption Agreement, unless designated otherwise, selections under the Deferral column apply to all Salary Deferrals (including Roth Deferrals and Catch-Up Contributions).

[Note: Certain vendor agreements associated with the Plan may restrict the application of certain Plan provisions. Additionally, some State and local laws may restrict the election of certain provisions under the Plan. Please consult with legal counsel to assess the impact of State laws, local laws and/or applicable vendor agreements on the Plan.]

SECTION 1

EMPLOYER INFORMATION

1-1 EMPLOYER INFORMATION.

Name: City of New Smyrna Beach Address: 210 Sams Avenue City, State, Zip Code: New Smyrna Beach, Florida 32168-7040 Telephone: (386) 410-2600

1-2 EMPLOYER IDENTIFICATION NUMBER (EIN). 59-6000387

1-3 TYPE OF EMPLOYER. (Optional)

[Note: To adopt this Plan, the Employer must be a State, political subdivision of a State, or any agency or instrumentality of a State or political subdivision of a State, as provided under Code §457(e)(1)(A). A non-governmental tax-exempt organization, as described under Code §457(e)(1)(B), may not adopt this Plan.]

(a) State

(b) Political Subdivision of a State

(c) Agency or Instrumentality of a State

(d) Other governmental entity: (Describe)

1-4 EMPLOYER’S TAX YEAR END. (Optional) The Employer’s tax year ends September 30

1-5 RELATED EMPLOYERS. (Optional) List any Related Employers. A Related Employer must execute a Participating Employer Adoption Page for Employees of that Related Employer to participate in this Plan.

SECTION 2

PLAN INFORMATION

2-1 PLAN NAME. City of New Smyrna Beach 457(b) Deferred Compensation Plan

Original Effective Date: September 19, 2014 Restatement Effective Date: April 18, 2025 Plan identifier (optional):

2-2 TYPE OF PLAN. This Plan is a Governmental 457(b) Plan.

The Plan is intended to be a FICA Replacement Plan (as defined under Section 3.08 of the BPD).

Governmental 457(b) Plan Section 2 – Plan Information

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2-3 TYPE OF CONTRIBUTIONS. (Check all that apply.)

(a) Salary Deferral Contributions

(b) Employer Matching Contributions

(c) Employer Contributions

(d) Rollover Contributions

2-4 PLAN YEAR.

(a) Calendar year.

(b) The 12-consecutive month period ending on each year.

(c) Other:

2-5 PLAN ADMINISTRATOR.

(a) The Employer identified in AA §1-1.

(b) Name:

Address:

Telephone:

2-6 FROZEN PLAN. Check this AA §2-6 if the Plan is a frozen Plan to which no contributions will be made. (See Section 3.01(c) of the BPD).

This Plan is a frozen Plan effective [Note: As a frozen Plan, the Employer will not make any contributions with respect to Plan Compensation earned after such date and no Participant will be permitted to make any contributions to the Plan after such date. In addition, no Employee will become a Participant after the date the Plan is frozen.]

2-7 DEFINITION OF DISABLED. An individual is considered Disabled for purposes of applying the provisions of this Plan if:

(a) The individual is covered by the Employer’s disability insurance plan and is determined to be disabled under such plan.

(b) The individual is determined to be disabled by the Social Security Administration under Section 223(d) of the Social

Security Act for purposes of determining eligibility for Social Security benefits.

(c) The Plan Administrator determines an individual is unable to engage in any substantial gainful activity by reason of a medically determinable physical or mental impairment that can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months. The permanence and degree of such impairment shall be supported by medical evidence. The Plan Administrator may establish reasonable procedures for determining whether a Participant is Disabled.

[Note: An Employer may elect any or all of the elections above. If more than one is selected, the hierarchy for determining whether an individual is considered Disabled is in the order listed above, unless described otherwise under separate administrative procedures or as described below.]

(d) Alternative definition of Disabled:

[Note: Any alternative definition described in this subsection (d) will apply uniformly to all Participants under the Plan.

The Employer may describe different definitions of Disabled for different purposes under the plan.]

SECTION 3

ELIGIBLE EMPLOYEES

3-1 ELIGIBLE EMPLOYEES. In addition to the Employees identified in Section 2.02 of the BPD, the following Employees are excluded from participation under the Plan with respect to the contribution source(s) identified in this AA §3-1. (See Sections 2.02(d) and (e) of the BPD for rules regarding the effect on Plan participation if an Employee changes between an eligible and ineligible class of employment.)

Deferral Match ER

(a) No exclusions.

(b) Collectively Bargained Employees (as defined in Section 1.11 of the BPD), unless the Collective Bargaining Agreement provides otherwise.

Section 3 – Eligible Employees

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Deferral Match ER

(c) Non-resident aliens who receive no compensation from the Employer which constitutes U.S. source income.

(d) Employees who normally work less than hours a week.

(e) Employees eligible for a 401(k), a 403(b) plan or another 457(b) plan sponsored by the Employer.

(f) Part-Time Employees (as defined in Section 1.39 of the BPD).

(g) Seasonal Employees (as defined in Section 1.57 of the BPD).

(h) Temporary Employees (as defined in Section 1.60 of the BPD).

(i) Employees in an appointed or elected position.

(j) Employees paid on an hourly basis.

(k) Employees paid on a salaried basis.

(l) All other Employees except Part-Time, Temporary and Seasonal Employees.

(m) Other:

3-2 INDEPENDENT CONTRACTORS. Unless elected otherwise under subsection (a) below, Independent Contractors (as defined in Section 1.35 of the BPD) of the Employer are excluded from participation in the Plan.

Deferral Match ER

(a) Independent Contractors may participate in the Plan.

(b) Describe any special rules applicable to Independent Contractors:

[Note: Select under subsection (a) the types of contributions for which Independent Contractors are eligible. If the Employer elects to allow Independent Contractors to participate in the Plan, the term Employee as used in the Plan shall include the eligible Independent Contractors, as appropriate.]

SECTION 4

MINIMUM AGE AND SERVICE REQUIREMENTS

4-1 ELIGIBILITY REQUIREMENTS – MINIMUM AGE AND SERVICE. An Eligible Employee (as defined in AA §3-1) who satisfies the minimum age and service conditions under this AA §4-1 will be eligible to participate under the Plan as of such Eligible Employee’s Entry Date (as defined in AA §4-2 below).

(a) Service Requirement. An Eligible Employee must complete the following minimum service requirements to participate in the Plan.

Deferral Match ER

(1) There is no minimum service requirement for participation in the Plan.

(2) One Year of Service (as defined in Section 2.03(a)(1) of the BPD and AA §4-3).

(3) The completion of at least Hours of Service during the first months of employment (or the first days of employment) or the completion of a Year of Service (as defined in AA §4-3), if earlier.

(i) An Employee who completes the required Hours of Service satisfies eligibility at the end of the designated period, regardless if the Employee actually works for the entire period.

(ii) An Employee who completes the required Hours of Service must also be employed continuously during the designated period of employment. (See Section 2.03(a)(1) of the BPD for rules regarding the application of this subsection (ii).)

(4) The completion of Hours of Service during an Eligibility Computation

Section 4 – Minimum Age and Service Requirements

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Deferral Match ER Period. [Note: If this (4) is chosen, an Employee satisfies the service requirement immediately upon completion of the designated Hours of Service.]

(5) Full-time Employees are eligible to participate as set forth in subsection (i).

Employees who are “part-time” Employees must complete a Year of Service (as defined in AA §4-3). For this purpose, a full-time Employee is any Employee not defined in subsection (ii).

(i) Full-time Employees must complete the following minimum service requirements to participate in the Plan:

(A) There is no minimum service requirement for participation in the Plan.

(B) The completion of at least Hours of Service during the first months of employment or the completion of a Year of Service (as defined in AA §4-3), if earlier.

(C) Under the Elapsed Time method as defined in AA §4-3 below.

(D) Describe:

(ii) Part-time Employees must complete a Year of Service (as defined in

AA §4-3).

(A) For this purpose, a part-time Employee is any Employee whose normal work schedule is less than:

(I) hours per week.

(II) hours per month.

(III) hours per year.

(B) Describe part-time Employees for this purpose:

[Note: A part-time employee must be described as an individual who works less than a specified number of hours during a standard work week.]

(6) Eligibility service will be determined under the Elapsed Time method as described in AA§4-3 below.

(7) Describe eligibility conditions:

Describe eligibility conditions:

(b) Minimum Age Requirement. An Eligible Employee (as defined in AA §3-1) must have attained the following age with respect to the contribution source(s) identified in this AA §4-1(b).

Deferral Match ER

(1) There is no minimum age for Plan eligibility.

(2) Age 21.

(3) Age .

(c) Special eligibility rules. The following special eligibility rules apply with respect to the Plan:

[Note: This subsection (c) may be used to apply the eligibility conditions selected under this AA §4-1 separately with respect to different Employee groups or different contribution formulas under the Plan.]

4-2 ENTRY DATE. An Eligible Employee who satisfies the minimum age and service requirements in AA §4-1 shall be eligible to participate in the Plan as of such Eligible Employee’s Entry Date. For this purpose, the Entry Date is the following date with respect to the contribution source(s) identified under this AA §4-2. [Note: If any of (b) – (g) is completed for a contribution source, also complete one of (h) – (l) for the same contribution source.]

Deferral Match ER

(a) Immediate. The date the minimum age and service requirements are satisfied.

(b) Semi-annual. The first day of the 1st and 7th month of the Plan Year.

(c) Quarterly. The first day of the 1st, 4th, 7th and 10th month of the Plan Year.

(d) Monthly. The first day of each calendar month.

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Deferral Match ER

(e) Payroll period. The first day of the payroll period.

(f) The first day of the Plan Year.

(g) Describe Entry Date:

An Eligible Employee’s Entry Date (as defined above) is determined based on when the Employee satisfies the minimum age and service requirements in AA §4-1. For this purpose, an Employee’s Entry Date is the Entry Date:

Deferral Match ER

(h) next following satisfaction of the minimum age and service requirements.

(i) coinciding with or next following satisfaction of the minimum age and service requirements.

N/A (j) nearest the satisfaction of the minimum age and service requirements.

N/A (k) preceding the satisfaction of the minimum age and service requirements.

N/A (l) coinciding with or preceding the satisfaction of the minimum age and service requirements.

This section may be used to describe any special rules for determining Entry Dates under the Plan. For example, if different Entry Date provisions apply for the same contribution sources with respect to different groups of Employees, such different Entry Date provisions may be described below.

Deferral Match ER

(m) Describe special rules for determining Entry Dates under the Plan:

4-3 DEFAULT ELIGIBILITY RULES. In applying the minimum age and service requirements under AA §4-1 above, the following default rules apply with respect to all contribution sources under the Plan:

Year of Service. An Employee earns a Year of Service for eligibility purposes upon completing 1,000 Hours of Service during an Eligibility Computation Period. Hours of Service are calculated based on actual hours worked during the Eligibility Computation Period. (See Section 1.33 of the BPD for the definition of Hours of Service.)

Eligibility Computation Period. If one Year of Service is required for eligibility, the Plan will determine subsequent Eligibility Computation Periods on the basis of Plan Years (see Section 2.03(a)(2)(i) of the BPD). If more than one Year of Service is required for eligibility, the Plan will determine subsequent Eligibility Computation Periods on the basis of Anniversary Years (see Section 2.03(a)(2)(ii) of the BPD).

To override the default eligibility rules, complete the applicable sections of this AA §4-3. If this AA §4-3 is not completed for a particular contribution source, the default eligibility rules apply.

Deferral Match ER

(a) Year of Service. Instead of 1,000 Hours of Service, an Employee earns a Year of Service upon the completion of Hours of Service during an Eligibility Computation Period.

(b) Eligibility Computation Period. The Plan will use Anniversary Years for all Eligibility Computation Periods.

(c) Elapsed Time method. [Note: Check the same contribution source as checked in AA §4-1(a) above.] Eligibility service will be determined under the Elapsed Time method. An Eligible Employee (as defined in AA §3-1) must complete a period of service, as designated below, to participate in the Plan. (See Section 2.03(a)(5) of the BPD.)

(1) For Deferral, must complete a period of service

(2) For Match, must complete a period of service

(3) For ER, must complete a period of service

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Deferral Match ER

(d) Equivalency Method. For purposes of determining an Employee’s Hours of Service for eligibility, the Plan will use the Equivalency Method (as defined in Section 2.03(a)(4) of the BPD). The Equivalency Method will apply to:

(1) All Employees.

(2) Employees who are not paid on an hourly basis. For Employees for whom the Employer maintains hourly records, eligibility will be determined based on actual hours worked.

If this (d) is checked, Hours of Service for eligibility will be determined under the following Equivalency Method.

(3) Monthly. 190 Hours of Service for each month worked.

(4) Weekly. 45 Hours of Service for each week worked.

(5) Daily. 10 Hours of Service for each day worked.

(6) Semi-monthly. 95 Hours of Service for each semi-monthly period worked.

(7) Hours worked. 870 hours worked treated as 1,000 Hours of

Service and 435 hours worked treated as 500 Hours of Service.

(8) Regular time hours. 750 regular time hours treated as 1,000

Hours of Service and 375 regular time hours treated as 500 Hours of Service.

(e) Special eligibility provisions. The following special eligibility provisions apply:

4-4 EFFECTIVE DATE OF MINIMUM AGE AND SERVICE REQUIREMENTS. The minimum age and/or service requirements under AA §4-1 apply to all Employees under the Plan. An Employee will participate with respect to all contribution sources under the Plan as of such Employee’s Entry Date, taking into account all service with the Employer, including service earned prior to the Effective Date.

To allow Employees employed on a specified date to enter the Plan without regard to the minimum age and/or service conditions, complete this AA §4-4.

Deferral Match ER

(a) Automatic Eligibility. An Eligible Employee who is employed by the Employer on the following designated date will enter the Plan on the designated date without regard to minimum age and/or service conditions:

(1) the Effective Date of this Plan (as designated on the Employer Signature Page, as applicable)

(2) the date the Plan is executed by the Employer (as indicated on the Employer Signature Page)

(3) [insert date]

(b) Describe other effective date provisions:

4-5 SERVICE WITH PREDECESSOR EMPLOYER. Service with the following Predecessor Employers will be counted for purposes of determining eligibility, vesting and/or allocation conditions under this Plan.

(a) Identify Predecessor Employer(s):

The Plan will count service with the following Predecessor Employers:

Name of Predecessor Employer Eligibility Vesting Allocation Conditions

(1)

(b) The following special rules apply with respect to service with a Predecessor Employer:

Section 5 – Compensation Definitions

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SECTION 5

COMPENSATION DEFINITIONS

5-1 TOTAL COMPENSATION. Total Compensation is based on the definition set forth under this AA §5-1. See Section 1.61 of the BPD for a specific definition of the various types of Total Compensation.

(a) W-2 Wages

(b) Code §415 Compensation

(c) “Simplified” Code §415 Compensation

(d) Wages under Code §3401(a) [For purposes of determining Total Compensation, each definition includes pre-tax contributions to a Code §125 cafeteria plan, Code §401(k), Code §403(b) or a Code §457 plan, and qualified transportation fringes under Code §132(f)(4).]

5-2 POST-SEVERANCE COMPENSATION.

(a) Exclusion of post-severance compensation from Total Compensation. Total Compensation (as defined in Section

1.61 of the BPD) includes post-severance compensation, to the extent provided in Section 1.61(b) of the BPD. For this purpose, severance pay is always excluded from the definition of Plan Compensation. Other post-severance compensation paid within 2½ months after severance from employment with the Employer or the end of the calendar year in which severance occurs is included in Plan Compensation, unless excluded under this subsection (a). See Section 1.61(b) of the BPD.

The following amounts paid after a Participant’s severance from employment are excluded from Plan Compensation.

(1) Unused leave payments. Payment for unused accrued bona fide sick, vacation, or other leave, but only if the

Employee would have been able to use the leave if employment had continued.

(2) Deferred compensation. Payments received by an Employee pursuant to a nonqualified unfunded deferred compensation plan, but only if the payment would have been paid to the Employee at the same time if the Employee had continued in employment and only to the extent that the payment is includible in the Employee’s gross income.

(b) Continuation payments for disabled Participants. Unless designated otherwise under this subsection (b), Total Compensation does not include continuation payments for disabled Participants. To count Total Compensation paid after Severance from Employment on account of disability (as defined in Code §22(e)(3)), check the box below.

Payments to disabled Participants. Total Compensation shall include post-severance compensation paid to a Participant who is permanently and totally disabled, as defined in Code §22(e)(3).

5-3 PLAN COMPENSATION. Plan Compensation is Total Compensation (as defined in AA §5-1 above) with the following exclusions described below.

Deferral Match ER

(a) No exclusions.

N/A (b) Salary Deferrals (as defined in Section 1.55 of the BPD), pre-tax contributions to a cafeteria plan or a Code §457 plan, and qualified transportation fringes under Code §132(f)(4) are excluded.

(c) All fringe benefits (cash and noncash), reimbursements or other expense allowances, moving expenses, deferred compensation, and welfare benefits are excluded.

(d) Compensation above $ is excluded.

(e) Amounts received as a bonus are excluded.

(f) Amounts received as commissions are excluded.

(g) Overtime payments are excluded.

(h) Shift differentials are excluded.

(i) Exclusions as described by the applicable Collective Bargaining Agreement.

(j) Amounts received for services performed for a non-signatory Related Employer are excluded.

[Note: If this subsection is not elected, amounts received for services

Section 5 – Compensation Definitions

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Deferral Match ER performed for a non-signatory Related Employer are INCLUDED in Plan Compensation.]

(k) “Deemed §125 compensation” as defined under Total Compensation.

(See Section 1.61(d) of the BPD.)

(l) Amounts received after Severance from Employment are excluded.

(m) Differential Pay (as defined in Section 1.61(e) of the BPD) is excluded.

(n) Describe adjustments to Plan Compensation:

5-4 PERIOD FOR DETERMINING COMPENSATION.

(a) Compensation Period. Plan Compensation will be determined on the basis of the following period(s) for the contribution sources identified in this AA §5-4. [Note: If a period other than Plan Year applies for any contribution source, any reference to the Plan Year as it refers to Plan Compensation for that contribution source will be deemed to be a reference to the period designated under this AA §5-4.]

Deferral Match ER

(1) The Plan Year.

(2) The calendar year ending in the Plan Year.

(3) The Employer's fiscal tax year ending in the Plan Year.

(4) The 12-month period ending on which ends during the Plan Year.

(b) Compensation while a Participant. Unless provided otherwise under this subsection (b), in determining Plan Compensation, only compensation paid while an individual is a Participant under the Plan with respect to a particular contribution source will be taken into account.

To count compensation for the entire Plan Year for a particular contribution source, including compensation paid while an individual is not a Participant with respect to such contribution source, check below. (See Section 1.45 of the BPD.)

Deferral Match ER

All compensation paid during the Plan Year will be taken into account, including compensation earned while an individual is not a Participant.

SECTION 6

EMPLOYER CONTRIBUTIONS

6-1 EMPLOYER CONTRIBUTIONS. Is the Employer authorized to make Employer Contributions under the Plan?

Yes No [If No, skip to Section 6A.] [Note: Any Employer Contribution made pursuant to this AA §6 will count towards the Code §457(e)(15) Maximum Contribution Limit. See Section 5.01 of the BPD.]

6-2 EMPLOYER CONTRIBUTION FORMULA. For the period designated in AA §6-4(a) below, the Employer will make the following Employer Contributions on behalf of Participants who satisfy the allocation conditions designated in AA §6-5 below.

Any Employer Contribution authorized under this AA §6-2 will be allocated in accordance with the allocation formula selected under AA §6-3 and AA §6-4, as applicable.

(a) Discretionary contribution. The Employer will determine in its sole discretion how much, if any, it will make as an Employer Contribution.

(b) Fixed contribution.

(1) % of each Participant’s Plan Compensation.

(2) $ for each Participant.

(3) The Employer Contribution will be determined in accordance with the personal service contract or employment contract applicable to the Participant.

(4) The Employer Contribution will be determined in accordance with any Collective Bargaining Agreement(s) addressing retirement benefits of Collectively Bargained Employees under the Plan.

Section 6 – Employer Contributions

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(c) Service-based contribution. The Employer will make:

(1) Discretionary. A discretionary contribution determined as a uniform percentage of Plan Compensation or a uniform dollar amount for each period of service designated below.

(2) Fixed percentage. % of Plan Compensation paid for each period of service designated below.

(3) Fixed dollar. $ for each period of service designated below.

The service-based contribution selected under this (c) will be based on the following periods of service:

(4) Each Hour of Service

(5) Each week of employment

(6) Describe period:

The service-based contribution is subject to the following rules:

(7) Describe any special provisions that apply to service-based contribution:

(d) FICA Replacement Contribution. (See Section 3.08 of the BPD).

(1) The Employee will make the 7.5% of Plan Compensation mandatory contribution.

(2) The Employer will make the 7.5% of Plan Compensation mandatory contribution.

(3) The Employee will make a mandatory contribution equal to % of Plan Compensation and the Employer will make a mandatory contribution equal to % of Plan Compensation.

[Note: The combined Employer and Employee contribution must equal at least 7.5% of Plan Compensation.]

(e) Contributions of accrued sick, PTO and/or vacation leave.

(1) The Employer will make and allocate Employer Contributions of amounts of accrued unpaid sick leave as follows:

(2) The Employer will make and allocate Employer Contributions of amounts of accrued unpaid PTO leave as follows:

(3) The Employer will make and allocate Employer Contributions of amounts of accrued unpaid vacation leave as follows:

(f) Describe Employer Contribution formula:

6-3 ALLOCATION FORMULA.

(a) Pro rata allocation. The Employer Contribution under AA §6-2(a) will be allocated as:

(1) a uniform percentage of Plan Compensation or

(2) a uniform dollar amount

(b) Allocation under fixed Employer Contribution. If a fixed Employer Contribution is selected in AA §6-2(b), the Employer Contribution will be allocated in accordance with the selections made in AA §6-2(b).

(c) Discretionary allocation. The Employer Contribution under AA §6-2(a) will be allocated in the sole discretion of the Employer in a manner solely determined by the Employer.

(d) Service-based allocation. The service-based Employer Contribution selected in AA §6-2(c) will be allocated in accordance with the selections made in AA §6-2(c).

(e) Describe other allocation method:

6-4 SPECIAL RULES. No special rules apply with respect to Employer Contributions under the Plan, except to the extent designated under this AA §6-4.

(a) Period for determining Employer Contributions. In determining the amount of the Employer Contributions to be allocated under this AA §6, the Employer Contribution will be based on Plan Compensation paid during the Plan Year, unless this (a) is selected and one of (1) – (4) is selected below.

Alternatively, the Employer may elect to base the Employer Contributions on Plan Compensation paid during the following period:

(1) Plan Year quarter (2) calendar month

(3) payroll period (4) Other:

[Note: Although Employer Contributions are determined on the basis of Plan Compensation paid during the period designated under this subsection (a), this does not require the Employer to actually make contributions or allocate contributions on the basis of such period.]

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(b) Limit on Employer Contributions. The Employer Contribution elected in AA §6-2 may not exceed:

(1) % of Plan Compensation

(2) $

(3) Describe:

(c) Offset of Employer Contribution.

(1) A Participant’s allocation of Employer Contributions under AA §6-2 of this Plan is reduced by contributions under [insert name of plan(s)].

(2) In applying the offset under this subsection, the following rules apply:

(d) Special rules. The following special provisions apply with respect to Employer Contributions:

6-5 ALLOCATION CONDITIONS. A Participant who has otherwise satisfied all conditions to receive an Employer Contribution, must satisfy any allocation conditions designated under this AA §6-5 to receive an allocation of Employer Contributions under the Plan. [Note: The Plan may not impose allocation conditions on FICA Replacement Contributions.]

(a) No allocation conditions apply with respect to Employer Contributions under the Plan.

(b) Employment condition. An Employee must be employed with the Employer on the last day of the Plan Year.

(c) Minimum service condition. An Employee must be credited with at least:

(1) Hours of Service during the Plan Year.

(2) consecutive days of employment with the Employer during the Plan Year.

(3) consecutive months of employment with the Employer during the Plan Year.

(d) Application to a specified period. The allocation conditions selected under this AA §6-5 apply on the basis of the Plan Year. Alternatively, if an employment or minimum service condition applies under this AA §6-5, the Employer may elect under this subsection to apply the allocation conditions on a periodic basis as set forth below. See Section 3.06(a) of the BPD for a description of the rules for applying the allocation conditions on a periodic basis.

(1) Period for applying allocation conditions. Instead of the Plan Year, the allocation conditions set forth under subsection (2) below apply with respect to the following periods:

(i) Plan Year quarter

(ii) calendar month

(iii) payroll period

(iv) Other:

(2) Application to allocation conditions. If this subsection (2) is checked to apply allocation conditions on the basis of specified periods, to the extent an employment or minimum service allocation condition applies under this AA §6-5, such allocation condition will apply based on the period selected under subsection (1) above, unless designated otherwise below:

(i) Only the employment condition will be based on the period selected in subsection (1) above.

(ii) Only the minimum service condition will be based on the period selected in subsection (1) above.

(iii) Describe any special rules:

(e) Exceptions.

(1) The above allocation condition(s) will not apply if an Employee, during the Plan Year:

(i) dies.

(ii) has a Severance from Employment due to becoming Disabled.

(iii) becomes Disabled.

(iv) has a Severance from Employment after attaining Normal Retirement Age.

If this box is checked, this waiver of allocation conditions applies only once during the Participant’s employment with the Employer. Thus, if an Employee is rehired after such a waiver was applied to such Employee, the waiver of allocation conditions will not apply to a subsequent Severance from Employment.

(v) has a Severance from Employment after attaining Early Retirement Age.

If this box is checked, this waiver of allocation conditions applies only once during the

Participant’s employment with the Employer. Thus, if an Employee is rehired after such a waiver was applied to such Employee, the waiver of allocation conditions will not apply to a subsequent Severance from Employment.

(vi) is on an authorized leave of absence from the Employer.

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(2) The exceptions selected under subsection (1) do not apply to:

(i) an employment condition designated under this AA §6-5.

(ii) a minimum service condition designated under this AA §6-5.

(iii) a Discretionary Employer Contribution.

(iv) a Fixed Employer Contribution.

(f) Equivalency Method. For purposes of determining an Employee’s Hours of Service for allocation purposes, the Plan will use the Equivalency Method (as defined in Section 2.03(a)(4) of the BPD). The Equivalency Method will apply to:

(1) All Employees.

(2) Only Employees for whom the Employer does not maintain hourly records. For all other Employees, actual hours worked will be used.

(g) Elapsed Time Method. For purposes of determining an Employee’s service for allocation purposes, the Plan will use the Elapsed Time Method.

(h) Describe any special rules governing the allocation conditions under the Plan:

6-6 OPTIONAL TREATMENT OF EMPLOYER CONTRIBUTIONS AS ROTH CONTRIBUTIONS. Unless elected otherwise below, a Participant may not elect to treat a nonforfeitable Employer Contribution made on behalf of such Participant as a Roth contribution.

(a) A Participant MAY elect to treat a nonforfeitable Employer Contribution made on behalf of such Participant as a Roth contribution. [Note: The Employer and/or Plan Administrator will develop operational procedures to assist in administering this election.]

(b) Describe any special rules relating to the optional treatment of nonforfeitable Employer Contributions as a Roth contribution:

6-7 SPECIAL RULES APPLICABLE TO EMPLOYER CONTRIBUTIONS. The following special rules apply to Employer Contributions:

SECTION 6A

SALARY DEFERRALS

6A-1 SALARY DEFERRALS. Are Employees permitted to make Salary Deferrals under the Plan?

Yes No [If “No” is checked, skip to Section 6B.]

6A-2 MAXIMUM LIMIT ON SALARY DEFERRALS. Unless designated otherwise under this AA §6A-2, a Participant may defer any amount up to the Code §457(e)(15) Maximum Contribution Limit.

(a) Salary Deferral Limit. A Participant may not defer an amount in excess of:

(1) % of Plan Compensation.

(2) $ .

[Note: If both (1) and (2) are checked, the deferral limit is the lesser of the amounts selected.] Any limit described in subsection (1) or (2) above applies with respect to the following period:

(3) Plan Year.

(4) the portion of the Plan Year during which the individual is eligible to participate.

(5) each separate payroll period during which the individual is eligible to participate.

(b) Limits on Salary Deferrals on bonus payments. [Note: This §6A-2(b) only may be selected if bonus payments are not excluded under AA §5-3.]

(1) The same limits specified in (a)(1) and (a)(2) above apply to bonus and non-bonus Plan Compensation.

Employees may defer any amounts out of bonus payments, subject to the Code §457(e)(15) Maximum Contribution Limit and any other limit on Salary Deferrals under this AA 6A-2. The Employer may impose special limits on bonus payments under the Salary Deferral Election or in separate administrative procedures.

(2) A Participant may defer up to % (not to exceed 100%) of any bonus payment (subject to the Code §457(e)(15) Maximum Contribution Limit) without regard to any other limits described under this AA §6A-2.

The Employer may impose special limits on bonus payments under the Salary Reduction Agreement election or in separate administrative procedures.

Section 6A – Salary Deferrals

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(3) Describe special rules applicable to deferrals on bonus payments:

(c) Deferral of sick, vacation, PTO and back pay. Unless otherwise elected below, a Participant may elect to defer accrued sick pay, accrued vacation pay, accrued PTO pay, or back pay if: (1) such pay is otherwise included in Plan Compensation; (2) the Participant timely enters into a Salary Reduction Agreement with respect to such pay; and (3) the Participant is an Employee in the month of deferral.

A Participant may NOT defer accrued sick pay, accrued vacation pay, accrued PTO or back pay.

(d) Describe any other limits that apply with respect to Salary Deferrals under the Plan:

6A-3 MINIMUM DEFERRAL RATE. Unless designated otherwise under this AA §6A-3, no minimum deferral requirement applies under the Plan. Alternatively, a Participant must defer at least the following amount in order to make Salary Deferrals under the Plan.

(a) % of Plan Compensation for a payroll period.

(b) $ for a payroll period.

(c) Describe.

6A-4 CATCH-UP CONTRIBUTIONS. Age 50 Catch-Up Contributions and Special 457 Catch-Up Contributions (as defined in Section 3.03(d) and (e) of the BPD) are permitted under the Plan, unless designated otherwise under this AA §6A-4.

(a) Age 50 Catch-Up Contributions are not permitted under the Plan.

(b) Special 457 Catch-Up Contributions are not permitted under the Plan.

(c) Describe any special rules applicable to the Age 50 Catch-Up Contributions or Special 457 Catch-Up Contributions:

6A-5 ROTH DEFERRALS.

(a) Availability of Roth Deferrals.

(1) Roth Deferrals are permitted under the Plan.

(2) Roth Deferrals are not permitted under the Plan.

[Note: If Roth Deferrals are effective as of a date later than the Effective Date of the Plan, designate such special Effective Date in AA §6A-8 below.]

(b) Distribution of Roth Deferrals. Unless designated otherwise under this subsection, to the extent a Participant takes a distribution or withdrawal from such Participant’s Salary Deferral Account(s), the Participant may designate the extent to which such distribution is taken from the Pre-Tax Deferral Account or from the Roth Deferral Account. If a Participant fails to designate the Account, the Plan Administrator may distribute amounts pursuant to a separate administrative policy.

Alternatively, the Employer may designate the order of distributions for the distribution types listed below:

(1) Distributions and withdrawals.

(i) Any distribution will be taken on a pro rata basis from the Participant’s Pre-Tax Deferral Account and Roth Deferral Account.

(ii) Any distribution will be taken first from the Participant’s Roth Deferral Account and then from the Participant’s Pre-Tax Deferral Account.

(iii) Any distribution will be taken first from the Participant’s Pre-Tax Deferral Account and then from the Participant’s Roth Deferral Account.

(2) Distribution of Excess Deferrals.

(i) Distribution of Excess Deferrals will be made from Roth and Pre-Tax Deferral Accounts in the same proportion that deferrals were allocated to such Accounts for the calendar year.

(ii) Distribution of Excess Deferrals will be made first from the Roth Deferral Account and then from the Pre-Tax Deferral Account.

(iii) Distribution of Excess Deferrals will be made first from the Pre-Tax Deferral Account and then from the Roth Deferral Account.

(c) In-Plan Roth Conversions. Unless elected under this AA §6A-5(c), the Plan does not permit a Participant to make an

In-Plan Roth Conversion under the Plan. To override this provision to allow Participants to make an In-Plan Roth Conversion, subsection (1) must be checked.

(1) Effective date. Effective December 12, 2024 [not earlier than 1/1/2013], a Participant may elect to convert all or any portion of such Participant’s non-Roth vested Account Balance to an In-Plan Roth Conversion Account.

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[Note: The Plan must provide for Roth Deferrals under AA §6A-5(a) as of the effective date designated in this subsection (1). An election under this subsection (1) does not affect an In-Plan Roth Conversion that was allowed under prior Plan provisions.]

(2) In-Service Distribution.

(i) For a Participant to convert such Participant’s eligible contributions to Roth through an In-Plan

Roth Conversion, the Participant need not be eligible to take a distribution from the Plan. [Note: If this subsection (i) is checked, a Participant may convert any or all of the eligible contribution sources to Roth Deferrals through an In-Plan Roth Conversion.]

(ii) For a Participant to convert such Participant’s eligible contributions to Roth through an In-Plan Roth Conversion, a Participant must be eligible for a distribution of any amounts converted to Roth Deferrals through an In-Plan Roth Conversion. Thus, only amounts that are eligible for distribution under AA §9 are eligible for In-Plan Roth Conversion.

(3) Contribution sources. An Employee may elect to make an In-Plan Roth Conversion from all available contribution sources under the Plan. To override this default provision and limit the contribution sources available for In-Plan Roth Conversion, select the applicable contribution sources below:

(i) Pre-tax Salary Deferrals

(ii) Employer Contributions

(iii) Matching Contributions

(iv) Rollover Contributions

(v) Describe:

(4) Limits applicable to In-Plan Roth Conversions. No special limits apply with respect to In-Plan Roth Conversions, unless designated otherwise under this subsection (4).

(i) Roth conversions may only be made from contribution sources that are fully vested (i.e., 100% vested).

(ii) A Participant may not make an In-Plan Roth Conversion of less than $ (may not exceed $1,000).

(iii) A Participant may not make an In-Plan Roth Conversion of any outstanding loan amount.

[Note: If this subsection (iii) is not checked, a Participant may convert amounts that are attributable to an outstanding loan, to the extent the loan relates to a contribution source that is eligible for conversion under subsection (3) above.]

(iv) Only Participants who are current Employees are allowed to make In-Plan Roth Conversions.

(v) The ability to make In-Plan Roth Conversions is limited to the following events:

(vi) Describe:

(5) Amounts available to pay federal and state taxes generated from an In-Plan Roth Conversion. No special provisions apply to allow Participants to withdraw funds to pay federal or state taxes generated from an In-Plan Roth Conversion, except as provided otherwise under this subsection (5).

(i) In-service distribution. If the Plan does not otherwise permit an in-service distribution at the time of the In-Plan Roth Conversion and this subsection (i) is checked, a Participant may elect to take an in-service distribution solely to pay taxes generated from the In-Plan Roth Conversion to the extent such in-service distribution would otherwise be permitted under Section 8.03 of the BPD.

[Note: If this subsection (i) is checked, a Participant may take an in-service distribution only to the extent such distribution would otherwise be permitted under the provisions of Section 8.03 of the

BPD.]

(ii) Participant loan. Generally, a Participant may request a loan from the Plan to the extent permitted under Section 13 of the BPD and AA Appendix B. However, to the extent a Participant loan is not otherwise allowed and this subsection (ii) is selected, a Participant may receive a Participant loan solely to pay taxes generated from an In-Plan Roth Conversion.

[Note: If this subsection (ii) is selected and Participant loans are not otherwise authorized under the Plan, any Participant loan made pursuant to this subsection (ii) will be made in accordance with the default loan policy described in Section 13 of the BPD.]

(6) Distribution from In-Plan Roth Conversion Account. Distributions from the In-Plan Roth Conversion Account will be permitted in the same manner as permitted for Roth Deferrals, as set forth under AA §9-2, unless designated otherwise under this subsection (6).

Describe distribution options:

(d) Describe any special rules that apply to Roth Deferrals under the Plan:

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6A-6 SALARY REDUCTION AGREEMENT ELECTIONS.

(a) Change or revocation of Salary Reduction Agreement election: A Participant’s election to change or resume a

Salary Reduction Agreement election will be effective as set forth under the Salary Reduction Agreement or other written procedures adopted by the Plan Administrator. Unless the Salary Reduction Agreement or other written procedures adopted by the Plan Administrator provide otherwise, a Participant may revoke a Salary Reduction Agreement election (on a prospective basis) at any time.

(b) Salary deferral elections of rehired participants: Unless designated otherwise below, a Participant’s affirmative Salary Reduction Agreement to defer (or to not defer) will cease upon Severance from Employment and the Participant will need to make a new election upon rehire.

Participant’s affirmative election does not cease upon Severance from Employment. If this subsection

(b) is selected, a terminated Participant’s affirmative Salary Reduction Agreement election to defer (or to not defer) will not cease upon Severance from Employment and the Participant’s affirmative Salary Reduction Agreement election to defer (or to not defer) in effect at the time of Severance from Employment will apply upon rehire.

[Note: The Employer may modify the rules applicable to rehired Employees under the Salary Reduction Agreement or other administrative procedures.]

6A-7 AUTOMATIC CONTRIBUTION ARRANGEMENT. No automatic contribution provisions apply under Section 3.03(c) of the BPD, unless provided otherwise under this AA §6A-7. [Note: Some States through anti-garnishment laws or otherwise may not allow Automatic Contribution Arrangements.]

(a) Automatic deferral election. Upon becoming eligible to make Salary Deferrals under the Plan (pursuant to AA §3 and AA §4), a Participant will be deemed to have entered into a Salary Deferral Election for each payroll period, unless the Participant completes a Salary Reduction Agreement election (subject to the limitations under AA §6A-2 and AA §6A-

3) in accordance with procedures adopted by the Plan Administrator.

(1) Effective date of Automatic Contribution Arrangement. The automatic deferral provisions under this AA

§6A-7 are effective as of:

(i) The Effective Date of this Plan as set forth under the Employer Signature Page.

(ii) [insert date]

(iii) As set forth under a prior Plan document.

[Note: If this subsection (iii) is checked, the automatic deferral provisions under this AA §6A-7 will apply as of the original Effective Date of the automatic contribution arrangement. Unless provided otherwise under this AA §6A-7, an Employee who is automatically enrolled under a prior Plan document will continue to be automatically enrolled under the current Plan document.]

(2) Automatic Contribution Arrangement. Check this subsection (2) if the Plan is designated as an Automatic Contribution Arrangement, as described under Section 3.03(c) of the BPD. [Note: Unless an election is made under this AA §6A-7 that is inconsistent with the requirements of an Eligible Automatic Contribution Arrangement (EACA), the Automatic Contribution Arrangement will qualify as an EACA, as described in Section 3.03(c) of the BPD.]

(i) Automatic Contribution Arrangement features determined under separate administrative procedures. The Employer has described the features of its Automatic Contribution Arrangement in a separate administrative policy which is incorporated by reference into this Plan. To the extent that either (ii) or (iii) below is not completed, those features of the Automatic Contribution Arrangement will be determined by the terms of a separate administrative policy.

(ii) Automatic deferral percentage.

(A) % of Plan Compensation

(B) $

(iii) Automatic increase. If elected under this subsection (iii), the automatic deferral amount will increase each Plan Year by the following amount. (See Section 3.03(c) of the BPD.)

(A) % of Plan Compensation

(B) $

(C) Describe:

Any automatic increase elected under this subsection (iii) will not cause the automatic deferral amount to exceed:

(D) % of Plan Compensation

(E) $

(F) Describe:

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(3) Application of automatic deferral provisions. The automatic deferral election under subsection (2) will apply to new Participants and existing Participants as set forth under this subsection (3).

(i) New Participants. The automatic deferral provisions apply to all Participants who become eligible on or after the effective date.

(ii) Current Participants. The automatic deferral provisions apply to all other eligible Participants as follows:

(A) Automatic deferral provisions apply to all current Participants who have not entered into a

Salary Deferral Election (including an election not to defer under the Plan).

(B) Automatic deferral provisions apply to all current Participants who have not entered into a

Salary Deferral Election that is at least equal to the automatic deferral amount under subsection (2)(ii). Current Participants who have made a Salary Deferral Election that is less than the automatic deferral amount or who have not made a Salary Deferral Election will automatically be increased to the automatic deferral amount unless the Participant enters into a new Salary Deferral election on or after the effective date of the automatic deferral provisions.

(C) Automatic deferral provisions do not apply to current Participants. Only new Participants described in subsection (i) above are subject to the automatic deferral provisions.

(D) Describe:

(iii) Treatment of automatic deferrals. Any Salary Deferrals made pursuant to an automatic deferral election will be treated as Pre-Tax Salary Deferrals, unless designated otherwise under this subsection (iii).

Any Salary Deferrals made pursuant to an automatic deferral election will be treated as Roth

Deferrals. [Note: This subsection (iii) may only be checked if Roth Deferrals are permitted under AA §6A-5.]

(iv) Expiration of affirmative deferral elections. Unless this subsection (iv) is elected, for purposes of the automatic deferral provisions of the Plan, a Participant’s affirmative elective deferral election will not expire. If this subsection (iv) is elected, a Participant’s affirmative deferral election will expire:

(A) at the end of each Plan Year.

(B) Describe date that the affirmative election will expire:

If a Participant fails to complete a new affirmative deferral election subsequent to the prior election expiring, the Participant becomes subject to the automatic deferral percentage as specified in the Plan pursuant to the automatic contribution arrangement provisions. Each year, the Participant can always complete a new affirmative election and designate a new deferral percentage.

[Note: Any Salary Deferral Election (including an election not to defer under the Plan) made after the effective date of the automatic deferral provisions will override such automatic deferral provisions.]

(4) Application of automatic increase. Unless designated otherwise under this subsection (4), if an automatic increase is selected under subsection (2)(iii) above, the automatic increase will take effect as of the first day of the second Plan Year following the Plan Year in which the automatic deferral election first becomes effective with respect to a Participant. (See Section 3.03(c)(2)(iii) of the BPD.)

(i) First Plan Year. Instead of applying as of the second Plan Year, the automatic increase described in subsection (2)(iii) takes effect as of the appropriate date (as designated under subsection (iii) below) within the first Plan Year following the date automatic contributions begin.

(ii) Designated Plan Year. Instead of applying as of the second Plan Year, the automatic increase described in subsection (2)(iii) takes effect as of the appropriate date (as designated under subsection (iii) below) within the Plan Year following the Plan Year in which the automatic deferral election first becomes effective with respect to a Participant.

(iii) Effective date. The automatic increase described under subsection (2)(iii) is generally effective as of the first day of the Plan Year.