TRINITY SCHOOL 403(B) PLAN Contribution & Employer Match

TRINITY SCHOOL 403(B) PLAN Average Participant Retirement Account Value

TRINITY SCHOOL 403(B) PLAN Estimated Average Employee Contribution Amount

• Participants may contribute any amount of their compensation by means of payroll deductions, subject to certain limitations prescribed by the Internal Revenue Code (IRC).
• Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions.
• Additionally, participants who have been employed by the Plan Sponsor for at least 15 years may elect to make a special 403(b) contribution in the amount equal to the smallest of: $3,000; $15,000 minus the amount of special 403(b) contributions made in prior years; or $5,000 multiplied by the years of service minus total deferrals made while employed by the Plan Sponsor, as defined by the Internal Revenue Service (IRS) 15-Year Rule.
• Participants may also contribute amounts representing distributions from other qualified defined benefit or defined contribution plans (i.e.
• rollover contributions).
• The Plan also includes an auto-enrollment provision whereby 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 3% of eligible compensation and their contributions invested in a designated fund until changed by the participant.
• Under an automatic deferral increase program, once an employee is enrolled in the Plan, the deferral percentage will increase by 1% on an annual basis until the deferral percentage reaches 15%, unless the employee elects otherwise.

• Deferrals as Percentage of Compensation: Less than or equal to 5% – Percentage of Contributions Matched: 100%; Greater than 5%, but less than 10% – Percentage of Contributions Matched: 50%; Greater than 10%, but less than 15% – Percentage of Contributions Matched: 10%; Deferrals in excess of 15% of compensation are not matched.

• Participants who first became eligible for matching contributions prior to January 1, 2013, are 100% vested in their matching contributions.
• Participants who first became eligible for matching contributions from January 1, 2013 to June 30, 2017 are 50% vested after two years of service and 100% vested after three years of service.
• Participants who first became eligible to receive matching contributions on or after July 1, 2017, are 20% vested after one year of service in their matching contributions and are fully vested after five years of service.