Benefit Guide - Stripes

401K PLAN

If you have questions about the retirement plan call to speak to a specialist at the Principal or visit their website: 1-800-547-7754 Monday through Friday, 7 a.m. - 9 p.m. (Central time), www.Principal.com.

401(K) QUESTIONS AND ANSWERS

Q : Am I eligible for Brownsville Community Development Corporation 401(K) PLAN? A: You are eligible to join the plan unless you are an employee who is: • a leased employee. • an independent contractor or employee of an independent contractor. • employed in the following position(s) or classification(s): Specialist. You are eligible to join the plan if you: • are at least age 18. • have completed 90 day(s) of service with the company • You enter the plan on the first day of the month on or after you meet the eligibility requirements. Q: Are there limits to my contributions? A: Your employer may match part of the pay you contribute to the plan through salary deferral. If a matching contribution is made to the plan, it will be calculated based on salary deferrals and pay as of the end of the plan year. The conditions you have to meet may include an hours requirement and/or require you to be an active participant during or at the end of the plan year. Your employer may make a discretionary contribution at the end of the plan year if you meet the requirements below. You will receive contributions if you are an active participant on the last day of the plan year during the latest accrual service. Employer contributions may change in the future. Q: When am I vested in the retirement plan funds? A: You are always 100% vested in the contributions you choose to defer. You cannot forfeit these contributions. You are vested in employer contributions based on years of vesting service in which you worked at least 1,000 hours as shown below. The vesting schedule is:

3 Year Cliff

< 3 Years

3 Years

0%

100%

The vesting schedule applies to the following contributions

Employer Match in M

Employer Discretionary

. Q: Can I take money from the plan? A: Yes, you may receive funds from your account for the following reasons: • Retirement (age 65).

• Early retirement (age 55). • Age 59-1/2 and still working. • Death. • Disability. • Termination of employment. • Financial Hardship Withdrawal.

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QUESTIONS? Call Answers@benefitsvip.com at 866.286.5354