GANNON UNIVERSITY DEFINED CONTRIBUTION PLAN Contribution & Employer Match

GANNON UNIVERSITY DEFINED CONTRIBUTION PLAN Average Participant Retirement Account Value

GANNON UNIVERSITY DEFINED CONTRIBUTION PLAN Estimated Average Employee Contribution Amount

• Each year, participants may contribute up to 100% of pretax annual compensation, as defined in the plan document, up to the maximum limits of the Internal Revenue Code (IRC).
• Participants who have attained age 50 before the end of the plan year, as well as participants who have worked for the University for at least 15 years, are eligible to make catch-up contributions.
• The Plan includes a mandatory enrollment provision once any employee with one year of service attains 30 years of age.
• Automatically enrolled participants have their deferral rate set at either 3% or 5% of eligible compensation depending on date of hire and years of participation in the Plan.
• Employees hired after July 1, 1997 are required to contribute 3% of their eligible compensation.
• Employees hired before July 1, 1997 with 20 years of participation in the Plan are required to contribute 5% of their eligible compensation.

• The University’s contribution is based on matching 100% of the first 7.50% of compensation that a participant contributes to the Plan, except for employees hired before July 1, 1997 with 20 years of participation, who receive matching contributions up to 10% of compensation contributed to the Plan.

• Participants are vested immediately in their contributions and the University’s contributions plus actual earnings thereon.