PALMER CANDY CO 401(K) PLAN Contribution & Employer Match

PALMER CANDY CO 401(K) PLAN Average Participant Retirement Account Value

PALMER CANDY CO 401(K) PLAN Estimated Average Employee Contribution Amount

• Each year, participants may contribute up to the maximum percentage of compensation and dollar amount permissible under the Internal Revenue Code.
• 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 elect not to participate in the Plan.
• Automatically enrolled participants have their deferral rate set at 3 percent of eligible compensation (increasing by 1% each year to a maximum of 10%).

• The employer contribution is a QACA Safe Harbor Matching Contribution equal to 100% of the first 1% and 50% of the next 5% of each employee’s eligible compensation.

• Participants are immediately vested in their contributions plus actual earnings thereon.
• Vesting in the Employer’s contribution portion of their accounts is based on continuous years of service.
• A participant is 100 vested in their employer QACA Safe Harbor Matching Contributions after two years of service.
• A participant is 100 percent vested in their employers’ discretionary contributions after six years of service.