PROJECT HOPE EMPLOYEES RETIREMENT PLAN Contribution & Employer Match

PROJECT HOPE EMPLOYEES RETIREMENT PLAN Average Participant Retirement Account Value

PROJECT HOPE EMPLOYEES RETIREMENT PLAN Estimated Average Employee Contribution Amount

• The Plan provides for employee salary deferral contributions up to a maximum of 100 percent of annual compensation subject to maximum tax-deferred limitations established by the Internal Revenue Code.
• The Plan allows participants to contribute up to 100 percent of their compensation on an after-tax basis.
• Employees are automatically enrolled to defer 5 percent of their eligible compensation upon meeting eligibility requirements unless they elect otherwise.
• Additionally, employee deferrals increase each first day of the plan year by 1 percent, up to a maximum of 15 percent, unless the employee elects otherwise.

• The Foundation provides a safe harbor match in the amount of 100 percent of the first 3 percent of compensation deferred by the participant and 50 percent of the next 2 percent of compensation deferred by the participant.

• Participants are immediately 100 percent vested in employee salary and rollover contributions, as well as the Foundation’s safe harbor contributions, and any income or loss thereon.
• Vesting in the Foundation’s discretionary contribution portion of their accounts, plus actual earnings thereon, is based on years of service.
• Participants vest in contributions made by the Foundation on a cliff basis at 100 percent after three years of service.
• A participant also becomes fully vested in their account balance at the time of the participant’s death, if the participant becomes disabled while employed, or upon attainment of normal retirement age.