MERCY HOUSING, INC. 403(B) PLAN Contribution & Employer Match

MERCY HOUSING, INC. 403(B) PLAN Average Participant Retirement Account Value

MERCY HOUSING, INC. 403(B) PLAN Estimated Average Employee Contribution Amount

• Each year, participants may contribute up to the maximum annual amount allowed under Internal Revenue Service ("IRS") regulations.
• Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions.
• The Plan includes an auto-enrollment provision whereby all newly eligible employees are automatically enrolled in the Plan unless they affirmatively elect not to participate in the Plan.
• Automatically enrolled participants have their deferral rate set at 1% of eligible compensation and their contributions invested in a designated balanced fund until changed by the participant.

• After completing one year of employment, the Organization matches, dollar for dollar, an employee’s contributions up to 2%.
• Effective January 1, 2018, the Organization will match, dollar for dollar, an employee’s contribution up to 4%.
• The Organization also makes a contribution to the Plan for eligible employees who have completed three to six years and seven or more years of employment.
• Employees with at least three but less than seven years’ tenure may receive an additional contribution equal to 1% of compensation.
• Employees with seven or more years’ tenure may receive an additional contribution equal to 1% for a total of an additional 2% of compensation.

• Participants are immediately 100% vested in their contributions, the Employer’s contributions, plus the actual earnings thereon.