United Methodist Personal Investment Plan - Wespath · 2.83 Final PIP Account Balance ... S1.1 History ..... 147 S1.2 Frozen Plan ... The United Methodist Personal Investment Plan

United Methodist Personal Investment Plan

(Effective January 1, 2006 and Amended and Restated as of January 1, 2017)

A Defined Contribution Retirement Benefits Church Plan of

The United Methodist Church

As Adopted by the General Board of Pension and Health Benefits of The United Methodist Church, Incorporated in Illinois

3407/020119 UMPIP17.001


TABLE OF CONTENTS Section Page

1 Introduction ........................................................................................................................1

1.1 Defined Terms .......................................................................................................1 1.2 History ...................................................................................................................1 1.3 The Plan .................................................................................................................1 1.4 Type of Plan ..........................................................................................................2 1.5 Funding ..................................................................................................................2 1.6 Exclusive Benefit ...................................................................................................3 1.7 Adoption of the Plan ..............................................................................................3 1.8 Plan Sponsors ........................................................................................................3 1.9 Prospective Application .........................................................................................6

2 Definitions and Rules of Interpretation ...........................................................................7

2.1 Account ..................................................................................................................7 2.2 Account Balance ....................................................................................................7 2.3 Accountholder .......................................................................................................7 2.4 Accounting Date ....................................................................................................7 2.5 ACP Contributions ................................................................................................7 2.6 ACP Test ...............................................................................................................8 2.7 Active Conference Member ..................................................................................8 2.8 Active Participant ..................................................................................................8 2.9 Actual Contribution Amount .................................................................................8 2.10 Actual Contribution Percentage ............................................................................8 2.11 Administrator .........................................................................................................9 2.12 Adoption Agreement .............................................................................................9 2.13 Affiliate ..................................................................................................................9 2.14 Affiliate Member ...................................................................................................9 2.15 After-Tax Contributions ........................................................................................9 2.16 After-Tax Contribution Account ...........................................................................9 2.17 Age 50 Catch-Up Contributions ..........................................................................10 2.18 Agency Affiliate ..................................................................................................10 2.19 Aggregate Account Balance ................................................................................10 2.20 Alternate Payee ....................................................................................................10 2.21 Annual Additions .................................................................................................10 2.22 Annual Conference ..............................................................................................11 2.23 Application for Benefits ......................................................................................11 2.24 Appoint or Appointment ......................................................................................11 2.25 Approved Conference-Elective Extension Ministry List ....................................11 2.26 Associate Member ...............................................................................................11 2.27 Automatic Enrollment .........................................................................................12 2.28 Before-Tax Contributions ....................................................................................12 2.29 Before-Tax Contribution Account .......................................................................12 2.30 Beneficiary ..........................................................................................................12

Section Page

- ii -

2.31 Bishop ..................................................................................................................12 2.32 Break in Service ..................................................................................................13 2.33 Business Day .......................................................................................................13 2.34 Cash Installments .................................................................................................13 2.35 Catch-Up Contributions .......................................................................................13 2.36 Church Plan .........................................................................................................13 2.37 Claimant ..............................................................................................................13 2.38 Clergy Employee .................................................................................................13 2.39 Clergyperson ........................................................................................................13 2.40 Code .....................................................................................................................14 2.41 Compensation ......................................................................................................14 2.42 Conditional Contribution .....................................................................................15 2.43 Conditional Contribution Account ......................................................................15 2.44 Conference ...........................................................................................................15 2.45 Conference-Elective Entity .................................................................................15 2.46 Conference Member ............................................................................................16 2.47 Conference-Responsible Unit ..............................................................................16 2.48 Contribution .........................................................................................................16 2.49 Contribution Period .............................................................................................16 2.50 Contribution Rate ................................................................................................16 2.51 CPBF ...................................................................................................................16 2.52 CPBF Participant .................................................................................................16 2.53 CPP ......................................................................................................................16 2.54 CPP Disabled or CPP Disability ..........................................................................16 2.55 CRSP ...................................................................................................................16 2.56 Credit ...................................................................................................................16 2.57 Deacon in Full Connection ..................................................................................17 2.58 Debit ....................................................................................................................17 2.59 Decimal Percentage .............................................................................................17 2.60 Default Beneficiary .............................................................................................17 2.61 Designated Beneficiary .......................................................................................17 2.62 Determination Year .............................................................................................17 2.63 Disabled ...............................................................................................................17 2.64 Discipline .............................................................................................................17 2.65 Disclaim ...............................................................................................................18 2.66 Discretionary Contribution ..................................................................................18 2.67 Discretionary Contribution Account ...................................................................18 2.68 Distribution Calendar Year ..................................................................................18 2.69 Distribution-Eligible Participant .........................................................................18 2.70 Due Date ..............................................................................................................19 2.71 Early Retirement Date .........................................................................................19 2.72 Effective Date ......................................................................................................20 2.73 Elder in Full Connection .....................................................................................20 2.74 Eligible Rollover Distribution .............................................................................20 2.75 Eligibility Service ................................................................................................21 2.76 Employee .............................................................................................................21

Section Page

- iii -

2.77 Entry Date ............................................................................................................21 2.78 ERISA ..................................................................................................................22 2.79 15-Year Catch-Up Contributions ........................................................................22 2.80 15-Year Catch-Up Aggregate Sum .....................................................................22 2.81 15-Year Catch-Up Service ..................................................................................22 2.82 Final CPBF Account Balance ..............................................................................22 2.83 Final PIP Account Balance ..................................................................................23 2.84 Five-Year Distribution Option ............................................................................23 2.85 Five-Year No Record of Appointment ................................................................23 2.86 Forfeitable Account Balance ...............................................................................23 2.87 Forfeiture .............................................................................................................23 2.88 Forfeiture Account ...............................................................................................23 2.89 Forfeiture Suspense Account ...............................................................................24 2.90 Form ....................................................................................................................24 2.91 403(c) Contract ....................................................................................................24 2.92 415 Affiliate .........................................................................................................24 2.93 415 Compensation ...............................................................................................24 2.94 415 Suspense Account .........................................................................................26 2.95 Full-Time .............................................................................................................27 2.96 Gap Period ...........................................................................................................27 2.97 GCFA ..................................................................................................................27 2.98 General Agency ...................................................................................................27 2.99 General Board ......................................................................................................27 2.100 General Conference .............................................................................................27 2.101 HCE .....................................................................................................................27 2.102 Highly Compensated Level .................................................................................28 2.103 Highly Compensated ACP ..................................................................................28 2.104 Hour of Paid Service ...........................................................................................28 2.105 Includible Compensation .....................................................................................29 2.106 IRA ......................................................................................................................29 2.107 IRS .......................................................................................................................29 2.108 Jurisdictional Conference ....................................................................................29 2.109 Lay Employee ......................................................................................................29 2.110 Leased Employee .................................................................................................30 2.111 Leave of Absence ................................................................................................30 2.112 Life Expectancy ...................................................................................................32 2.113 LifeStage Investment Management .....................................................................32 2.114 Lifetime Distribution Option ...............................................................................32 2.115 Limitation Year ...................................................................................................32 2.116 Local Church .......................................................................................................32 2.117 Local Pastor .........................................................................................................32 2.118 Look-Back Year ..................................................................................................32 2.119 LTD Plan Disabled or LTD Plan Disability ........................................................32 2.120 Matching Contribution ........................................................................................32 2.121 Matching Contribution Account ..........................................................................33 2.122 Maximum ACP ....................................................................................................33

Section Page

- iv -

2.123 Medical Leave .....................................................................................................33 2.124 Missionary Conference ........................................................................................33 2.125 MPP .....................................................................................................................33 2.126 Month of Service .................................................................................................34 2.127 Non-HCE .............................................................................................................34 2.128 Non-Highly Compensated ACP ..........................................................................34 2.129 Non-Matching Contribution ................................................................................34 2.130 Non-Matching Contribution Account ..................................................................34 2.131 Non-QCCO ..........................................................................................................34 2.132 Normal Retirement Date ......................................................................................34 2.133 Notice ..................................................................................................................35 2.134 One-Year Break in Service ..................................................................................35 2.135 Paid Leave ...........................................................................................................35 2.136 Participant ............................................................................................................36 2.137 Participant Contribution Account ........................................................................36 2.138 Participant Contributions .....................................................................................36 2.139 Part-Time .............................................................................................................36 2.140 Pastoral Charge ....................................................................................................36 2.141 Permanent ............................................................................................................37 2.142 Permanently Disabled ..........................................................................................37 2.143 PIP .......................................................................................................................37 2.144 PIP Participant .....................................................................................................37 2.145 Plan ......................................................................................................................37 2.146 Plan Sponsor ........................................................................................................37 2.147 Plan Sponsor Contribution Account ....................................................................37 2.148 Plan Sponsor Contribution ..................................................................................37 2.149 Plan Year .............................................................................................................37 2.150 Provisional Member ............................................................................................38 2.151 QCCO ..................................................................................................................38 2.152 QDRO ..................................................................................................................38 2.153 QNEC ..................................................................................................................38 2.154 QNEC Account ....................................................................................................38 2.155 QVEC ..................................................................................................................38 2.156 QVEC Account ....................................................................................................38 2.157 Reemployed .........................................................................................................39 2.158 Regulation ............................................................................................................39 2.159 Relinquish ............................................................................................................39 2.160 Remitter ...............................................................................................................39 2.161 Representative Contribution Rate ........................................................................39 2.162 Required Beginning Date ....................................................................................39 2.163 Retire or Retirement ............................................................................................40 2.164 Rollover Account .................................................................................................41 2.165 Roth Contributions ..............................................................................................41 2.166 Roth Contribution Account .................................................................................41 2.167 Roth Qualified Distribution .................................................................................42 2.168 Salary-Paying Unit ..............................................................................................42

Section Page

- v -

2.169 Salary-Reduction Agreement ..............................................................................43 2.170 Section .................................................................................................................43 2.171 Service .................................................................................................................43 2.172 Service Agreement ..............................................................................................43 2.173 Simplified Rule ....................................................................................................43 2.174 Sponsor Account Balance ....................................................................................43 2.175 Spouse ..................................................................................................................44 2.176 Supplement ..........................................................................................................44 2.177 Supplement One ..................................................................................................44 2.178 Supplement Two ..................................................................................................44 2.179 Supplement Three ................................................................................................44 2.180 Terminated Participant ........................................................................................44 2.181 Termination of Conference Relationship ............................................................45 2.182 Termination of Employment ...............................................................................46 2.183 Top-Paid Group ...................................................................................................47 2.184 Transitional Leave ...............................................................................................47 2.185 Trust .....................................................................................................................47 2.186 Trust Agreement ..................................................................................................48 2.187 Trustee .................................................................................................................48 2.188 Under Episcopal Appointment ............................................................................48 2.189 Unsupplemented Plan ..........................................................................................48 2.190 USERRA .............................................................................................................48 2.191 Valuation Account Balance .................................................................................48 2.192 Valuation Calendar Year .....................................................................................48 2.193 Vested ..................................................................................................................48 2.194 Vesting .................................................................................................................48 2.195 Vesting Service ....................................................................................................48

3 Participation .....................................................................................................................49

3.1 Eligibility Service ................................................................................................49 3.2 Eligibility for Participation ..................................................................................50 3.3 Determination of Entry Date ...............................................................................56 3.4 Determination of Eligibility ................................................................................57 3.5 Cessation and Resumption of Participation .........................................................57 3.6 Omission of Eligible Employee ...........................................................................57 3.7 Inclusion of Ineligible Person ..............................................................................58 3.8 Election Not to Participate ...................................................................................59

4 Amount and Allocation of Contributions ......................................................................60

4.1 Plan Sponsor Contributions .................................................................................60 4.2 Participant Contributions .....................................................................................64 4.3 Allocation and Deposit of Contributions .............................................................70 4.4 Late Contributions ...............................................................................................70 4.5 Ineligible Participants ..........................................................................................71 4.6 Rollovers into the Plan ........................................................................................71 4.7 Transfers into the Plan .........................................................................................73

Section Page

- vi -

5 Limits on Contributions ..................................................................................................75

5.1 Limit on Annual Additions ..................................................................................75 5.2 Limit on Salary-Reduction Contributions ...........................................................79 5.3 Annual Additions for Disabled Persons ..............................................................81 5.4 ACP Test for Non-QCCOs ..................................................................................82 5.5 Other Limitations for Non-QCCOs .....................................................................86 5.6 Purpose of Limitations; Authority of Administrator ...........................................86

6 Investments and Plan Accounting ..................................................................................87

6.1 Accounts ..............................................................................................................87 6.2 Investment Fund Accounting ..............................................................................88 6.3 Investment of Accounts .......................................................................................88

7 Vesting and Forfeiture .....................................................................................................90

7.1 Fully Vested Accounts ........................................................................................90 7.2 Forfeitable Account Balances ..............................................................................91 7.3 Time of Vesting ...................................................................................................92 7.4 Vesting Service ....................................................................................................94 7.5 Forfeitures of Vested Accounts ...........................................................................96

8 Payment of Benefits .........................................................................................................97

8.1 Methods of Benefit Payment ...............................................................................97 8.2 Distributions ........................................................................................................98 8.3 Payments After an Accountholder’s Death .......................................................100 8.4 Required Minimum Distributions ......................................................................101 8.5 Direct Rollovers and Transfers Out ...................................................................108 8.6 Unclaimed Benefits ...........................................................................................110 8.7 Payment with Respect to Incapacitated Accountholders ...................................111 8.8 Ordering of Distributions ..................................................................................112 8.9 In-Service Withdrawals .....................................................................................112 8.10 Hardship Loans ..................................................................................................115 8.11 Disclaimer ..........................................................................................................119 8.12 Trailing Account Balances ................................................................................119 8.13 Beneficiaries ......................................................................................................119 8.14 Administrative Rules .........................................................................................122

9 Adoption of Plan ............................................................................................................123

9.1 Eligible Plan Sponsors .......................................................................................123 9.2 Adoption Agreement .........................................................................................123 9.3 Merging Other Plans ..........................................................................................124 9.4 CPBF and PIP Plan Sponsors ............................................................................124 9.5 Service Agreement ............................................................................................124

10 Plan Administration.......................................................................................................126

10.1 General Fiduciary Standard of Conduct ............................................................126 10.2 Allocation of Responsibility Among Fiduciaries ..............................................126 10.3 Administrator .....................................................................................................126

Section Page

- vii -

10.4 Powers and Duties of Administrator .................................................................127 10.5 Records and Reports ..........................................................................................129 10.6 Duties of Each Plan Sponsor .............................................................................129 10.7 Fees and Expenses .............................................................................................130 10.8 Attorney Fees and Costs ....................................................................................131 10.9 Delegation of Authority .....................................................................................131 10.10 Indemnification by Plan Sponsors .....................................................................131 10.11 Claims Procedure ...............................................................................................131 10.12 Qualified Domestic Relations Orders. ...............................................................134

11 Amendment, Termination, and Merger of Plan .........................................................136

11.1 Amendment .......................................................................................................136 11.2 Termination of Plan Sponsorship ......................................................................137 11.3 Termination of the Plan .....................................................................................138 11.4 Continuation by a Successor or Purchaser ........................................................139 11.5 Plan Merger, Consolidation, or Transfer ...........................................................139

12 General Provisions .........................................................................................................142

12.1 Rules and Forms ................................................................................................142 12.2 Non-Alienation of Benefits ...............................................................................142 12.3 Non-Reversion ...................................................................................................142 12.4 Construction ......................................................................................................143 12.5 Limitation of Liability .......................................................................................143 12.6 Alternative Dispute Resolution .........................................................................144 12.7 Titles and Headings ...........................................................................................144 12.8 Number and Gender ..........................................................................................144 12.9 USERRA ...........................................................................................................144 12.10 Participant, Beneficiary, and Accountholder Duties .........................................144 12.11 Adequacy of Evidence .......................................................................................144 12.12 Notice to Other Parties ......................................................................................145 12.13 Waiver of Notice ...............................................................................................145 12.14 Successors ..........................................................................................................145 12.15 Severability ........................................................................................................145 12.16 Supplements ......................................................................................................145 12.17 Change in Classification ....................................................................................145

SUPPLEMENT ONE-CUMULATIVE PENSION AND BENEFIT FUND-147

S1.1 History ...............................................................................................................147 S1.2 Frozen Plan ........................................................................................................147 S1.3 Transfer of CPBF Accounts ..............................................................................147 S1.4 CPBF Annuities .................................................................................................148 S1.5 CPBF Funding ...................................................................................................148 S1.6 Termination of CPBF ........................................................................................149

Section Page

- viii -

SUPPLEMENT TWO-PERSONAL INVESTMENT PLAN 150

S2.1 History ...............................................................................................................150 S2.2 Frozen Plan ........................................................................................................150 S2.3 Transfer of PIP Accounts ..................................................................................150 S2.4 PIP Annuities .....................................................................................................151 S2.5 PIP Funding .......................................................................................................151 S2.6 Termination of PIP ............................................................................................152

SUPPLEMENT THREE-CENTRAL CONFERENCE BISHOPS 153

S3.1 Central Conference Bishop ................................................................................153 S3.2 Eligible Employees ............................................................................................153 S3.3 Plan Operation ...................................................................................................153

Execution ....................................................................................................................................153

Note: The United Methodist Personal Investment Plan is a church plan that is not subject to registration, regulation, or reporting under the Investment Company Act of 1940, the Securities Act of 1933, the Securities Exchange Act of 1934, Title 15 of the United States Code, or State securities laws. Similarly, the Administrator and the Trustee of the Plan and the entities maintaining any investment funds under the Plan are not subject to those provisions of those Acts or laws. Therefore, Plan participants and beneficiaries will not be afforded the protection of those provisions.


SECTION 1 – INTRODUCTION 1.1 Defined Terms. As used in this Plan, capitalized terms, including acronyms, have the

meanings set forth in Section 2. When not set forth in that Section, capitalized terms have the meanings set forth in predecessor plans, given to them in the Discipline, or understood in common usage.

1.2 History.

(a) In accordance with resolutions of the Board of Directors of the General Board adopted at various times since January 1, 2006, the Plan is amended and restated as of January 1, 2017 (except as otherwise specified). The Plan was originally effective January 1, 2006 (except as otherwise specified) and was an amendment and restatement of its predecessor plans, CPBF and PIP, in the form of a renamed plan approved by the Board of Directors of the General Board by resolution dated November 20, 2004. General Conference authorized the establishment of CPBF in or about August 1972 and the establishment of PIP effective January 1, 1998. Before January 1, 1998, PIP existed as a part of various other plans administered by the General Board in the form of personal contributions to those plans. Other predecessor plans include the Tax-Deferred Annuity Contributions Program (for participant contributions) and the Lay Employees Pension Fund (for plan sponsor contributions).

(b) CPBF and PIP have been frozen as of December 31, 2005 and have been preserved in Supplements One and Two hereto, respectively, except to the extent that benefits from those plans have been transferred to the Unsupplemented Plan as provided in Supplements One and Two.

1.3 The Plan. The Plan for any Plan Sponsor consists of the following subdivisions, plus any others that may be added to the Plan (and minus any subdivisions that may be removed from the Plan) from time to time:

(a) the Unsupplemented Plan;

(b) Supplement One, also formerly known as CPBF;

(c) Supplement Two, also formerly known as PIP;

(d) Supplement Three, covering central conference bishops; and

(e) the Adoption Agreement for that Plan Sponsor.

The Plan will apply to a Participant, a Terminated Participant, a Beneficiary, or an Accountholder as of the earlier of the date such person first became eligible for the Plan, first had an Account, or was first eligible for an annuity payment under a Supplement and will remain applicable, as the Plan exists from time to time, until such person no longer

- 2 -

has an Account or is no longer due a benefit under the Plan. If any issue under the Plan applies after such person’s Account has been distributed or other benefit has been paid, then the terms of the Plan as they existed on the date of such payment or distribution will apply to such person. In the case of a Beneficiary or any other person who does not have an Account or a benefit due according to Plan records, but who claims a benefit under the Plan, the terms of the Plan as they existed at the time or times such person would have been entitled to an Account or a benefit if such claim were upheld will govern.

1.4 Type of Plan. The Plan is intended to be a program of one or more church-sponsored retirement income accounts within the meaning of Code §403(b)(9), with the portions of Supplements One and Two that are paying annuities being defined benefit plans, as that term is defined in Code §414(j), and all other portions of the Plan, including the Unsupplemented Plan, being defined contribution plans, as that term is defined in Code §414(i). The defined benefit plans are grandfathered pre-August 14, 1982 defined benefit Code §403(b) plans under Code §403(b)(9) in accordance with §251(e)(5) of the Tax Equity and Fiscal Responsibility Act of 1982. Any portion of an Accountholder’s Account Balance that is not fully Vested, in accordance with Regulations under Code §403(b), will be deemed to be a separate unvested Code §402(b) contract until such time as such amount is either fully Vested or has been Forfeited, at which point any such Vested amount will once again be part of the main contract subject to Code §403(b)(9). Any portion of the Contributions to an Accountholder’s Account Balance that is an excess Annual Addition under Regulations under Code §415(c) will be deemed, to the extent not refunded to the Accountholder under Section 5.1 or applicable Regulations, to be a separate account under Code §72 or a separate contract not subject to Code §403(b) until such time as such amount satisfies Code §415(c), at which point such amount will once again be part of the main contract subject to Code §403(b)(9). For the purpose of Code §401(a)(4), the Plan is intended to be a multiple employer plan involving more than one Plan Sponsor. Plan Sponsors may or may not be Affiliates of one another. For the purpose of Code §414(e), each Plan Sponsor is intended to be a church, a convention or association of churches (within the meaning of Code §414(e)(3)(C)), or an organization controlled by or associated with a church or a convention or association of churches (within the meaning of Code §414(e)(3)(D)). Accordingly, the Plan Sponsors are intended to be one employer solely for the purpose of Code §414(e) (and separate employers for other purposes, except as may otherwise be specifically provided in the Plan). Further, the Plan is intended to meet the requirements of a “church plan” as that term is defined in Code §414(e) and ERISA §3(33) and to be exempt from ERISA as a Church Plan to the extent permitted under Code §410(d), applicable ERISA sections (including, but not limited to, ERISA §§4(b)(2) and 4021(b)(3)), and any other applicable law.

1.5 Funding. Contributions to fund the benefits provided under the Plan are made by the Plan Sponsors as provided in the Plan or transferred as provided in the Supplements.

(a) The Trust. To receive such Contributions, the General Board has established the Trust pursuant to the Trust Agreement. All benefits under the Plan will be provided exclusively by distributions from the Trust. The Trustee has the powers and duties specified in the Trust Agreement. The Administrator has the authority

- 3 -

to replace the Trustee of the Trust at any time, or to establish additional Trusts to fund benefits under the Plan.

(b) Insurance Contracts. Benefits under the Plan may also, at the General Board’s discretion, be provided by the purchase of insurance contracts, and, in such event, the term Trust will also include the Plan’s interest, if any, in such insurance contracts. Such insurance contracts may be entered into by the General Board or by the Trustee in accordance with the General Board’s direction. The outsourced insurance contracts provided for in Sections S1.4 and S2.4 are not part of the Plan or the Trust.

1.6 Exclusive Benefit. The Plan is for the exclusive benefit of Accountholders and annuitants under Supplements One and Two. No portion of the funds contributed to the Plan will revert to or be applied for the benefit of the Plan Sponsors, except as specifically permitted herein.

1.7 Adoption of the Plan. An eligible Plan Sponsor may adopt the Plan in accordance with Section 9 and the terms of an Adoption Agreement. A Plan Sponsor may discontinue sponsoring the Plan in accordance with Section 11 and the terms of its Adoption Agreement.

1.8 Plan Sponsors.

(a) Eligible Entities. Subject to the limitations of Code §414(e)(2) and subsections (b), (c), and (d) below, either of the following entities (described in (a)(i) or (ii)) that is eligible to sponsor a Code §403(b) Church Plan is eligible to execute or accept an Adoption Agreement to be a Plan Sponsor under the Plan:

(i) An entity that is:

(A) controlled by or associated with The United Methodist Church or an autonomous affiliated church; and

(B) a Code §501(c)(3) organization or a person who normally works at least 500 hours per year as a self-employed minister within the meaning of Code §414(e)(5)(A)(i)(I).

(ii) An entity:

(A) that does not satisfy paragraph (a)(i); but

(B) that pays one or more Clergypersons who are Under Episcopal Appointment to such entity; and

(C) that sponsors the Plan with respect to any such Clergyperson who qualifies under Code §414(e)(3)(B)(i), even though The United Methodist Church is deemed to be such Clergyperson’s employer under Code §414(e)(3)(C). Notwithstanding the foregoing, any

- 4 -

such Clergyperson will be treated as a Clergy Employee of the Plan Sponsor for the purposes of this Plan other than the penultimate sentence of Section 1.4.

No other entity may be a Plan Sponsor of the Plan. Plan Sponsors who qualify under paragraph (a)(ii) above may sponsor the Plan only for Clergypersons described in such paragraph, while Plan Sponsors who qualify under paragraph (a)(i) above may sponsor the Plan for any one or multiple groups of Employees described in subsection (b) below, subject to any applicable nondiscrimination or coverage testing requirements.

(b) Covered Employees. The following Plan Sponsors who qualify under subsection (a) above may execute or accept an Adoption Agreement with respect to the following types or classes of Employees and types of Contributions, subject to any limitations otherwise specified in the Plan:

(i) Clergy. Subject to any limitations in paragraph (b)(ii) below or Section 3.2 and in accordance with the terms of its Adoption Agreement, an entity qualifying under subsection (a) above may be a Plan Sponsor with respect to the Clergypersons:

(A) for which it serves as the Salary-Paying Unit; or

(B) in the case of a Conference, who are its members

for:

(1) Plan Sponsor Contributions; and/or

(2) Participant Contributions.

(ii) Clergy Participant Contributions.

(A) When a Clergyperson’s Conference has elected not to be a Plan Sponsor with respect to such Clergyperson for Participant Contributions, then such Clergyperson’s Salary-Paying Unit may be a Plan Sponsor with respect to such Clergyperson for Participant Contributions.

(B) If, however, a Clergyperson’s Conference has elected to be a Plan Sponsor with respect to such Clergyperson for Participant Contributions, then such Clergyperson’s Salary-Paying Unit may not be a Plan Sponsor with respect to such Clergyperson for Participant Contributions (although such Conference will have to arrange for the Salary-Paying Unit to timely remit such Participant Contributions to the Administrator or to timely forward such Participant Contributions to such Conference so that the

- 5 -

Conference may timely remit such Contributions to the Administrator).

(iii) Lay Employees. Any entity that qualifies under paragraph (a)(i) above may be a Plan Sponsor with respect to its Lay Employees for:

(A) Plan Sponsor Contributions and Participant Contributions; or

(B) Participant Contributions.

(iv) Bishops. GCFA or another Salary-Paying Unit may be a Plan Sponsor with respect to Bishops for:

(A) Plan Sponsor Contributions; and/or

(B) Participant Contributions.

(c) Multiple Adoption Agreements. A Plan Sponsor may execute more than one Adoption Agreement, subject to:

(i) the foregoing limits in this Section and elsewhere in the Plan;

(ii) any rules established from time to time by the Administrator; and

(iii) the following rules and limits:

(A) The Code and Regulations impose coverage and nondiscrimination requirements, especially for Non-QCCOs. Those coverage and nondiscrimination requirements must be reflected in the Plan Sponsor’s Adoption Agreement or Agreements, based on the composition of the Plan Sponsor’s workforce from time to time.

(B) Subject to Section 3.2(a)(A) and (B), a Plan Sponsor must cover all of its Employees who are eligible under Sections 3.2 and 3.3 with respect to Participant Contributions.

(C) A Plan Sponsor may execute more than one Adoption Agreement covering different mutually exclusive classifications of Employees. No Employee may be covered for the same job classification on more than one such Adoption Agreement.

(D) A given Participant may be covered under the Plan by more than one Adoption Agreement only if he or she is employed in different mutually exclusive job classifications. The Plan Sponsor whose Adoption Agreement covers a given job classification is responsible for Contributions with respect to Compensation paid by such Plan Sponsor or its related Salary-Paying Unit to any Employee in such job classification.

- 6 -

(E) A single Plan Sponsor may make multiple kinds of Plan Sponsor Contributions under one Adoption Agreement covering a given job classification, provided that all of such kinds of Plan Sponsor Contributions have the same vesting schedule.

(d) Related Entities. Whether two or more related entities are two separate Plan Sponsors or one Plan Sponsor is based on all the facts and circumstances. The following factors are not intended to be an exhaustive list of such facts and circumstances:

(i) If two entities have different:

(A) federal employer identification numbers;

(B) boards of directors; or

(C) boards of trustees;

they will be presumed to be independent entities. Either or both may be a Plan Sponsor, but not with respect to the same job classification. Any person working for both Plan Sponsors would have to separately qualify for the Plan with respect to his or her employment with each Plan Sponsor.

(ii) If two entities have the same:

(A) federal employer identification number;

(B) board of directors; or

(C) board of trustees;

they will be presumed to be one Plan Sponsor. Such Plan Sponsor may execute more than one Adoption Agreement, as provided in subsection (c) above, but not with respect to the same job classification.

1.9 Prospective Application. No benefits will accrue under the Plan before the Effective Date, although Account Balances may be transferred to the Plan from CPBF and/or PIP as of the Effective Date.

- 7 -

SECTION 2 - DEFINITIONS AND RULES OF INTERPRETATION

As used in this Plan, capitalized terms have the meanings set forth below. Definitions are sometimes supplemented with examples or other additional information.

2.1 Account.

(a) The aggregate of the separate recordkeeping entries maintained by the Administrator according to the books and records of the Plan for the purpose of recording the aggregate amount of the type of Contribution made to the Plan for the benefit of an Accountholder, adjusted for any applicable Debits or Credits. The maintenance of separate Accounts does not require physical segregation of plan assets with respect to any Account. Any means the Administrator uses to separately track amounts can support a separate Account. The Accounts maintained under the Plan represent the Accountholders’ interests in the Plan and Trust and are intended as bookkeeping records to assist the Administrator in the administration of the Plan. Any reference to an Accountholder’s “Accounts” refers to all of the Accounts maintained in the Accountholder’s name under the Plan (including any separate contracts, such as under Sections 7.2 or 8.8(b)), unless the context otherwise requires.

(b) In the case of a Forfeiture Account or a 415 Suspense Account, the term Account refers to an account held in the name of a Plan Sponsor until the balance is reallocated to Plan Sponsor Contribution Accounts, Before-Tax Contribution Accounts, or Roth Contribution Accounts for the benefit of Participants or returned to the Plan Sponsor when so authorized by the Plan.

2.2 Account Balance. The total amount held for an Accountholder in his or her Account (or in the specific separate Account or portion of an Account or Accounts referred to), as determined on the coincident or immediately preceding Accounting Date in accordance with the provisions of the Plan.

2.3 Accountholder. A Participant, a Terminated Participant, an Employee who has rolled over an amount into the Plan, an Alternate Payee, a Beneficiary, or some other person, any of whom has an Account under the Plan.

2.4 Accounting Date. Each Business Day of each calendar year and any other date upon which Contributions to, or Debits or Credits with respect to, Account Balances are made.

2.5 ACP Contributions. The sum of:

(a) Matching Contributions made for;

(b) Conditional Contributions (when, under a Plan Sponsor’s Adoption Agreement, a Participant must make Participant Contributions to earn a Plan Sponsor Conditional Contribution) made for;

(c) QNECs, if any, and if elected to be included by the Plan Sponsor, made for; and

- 8 -

(d) After-Tax Contributions made by

a Participant or former Participant in a Plan Year.

2.6 ACP Test. A comparison of the ACP Contributions of the HCEs of a Plan Sponsor (or Agency Affiliate) for a Determination Year to the ACP Contributions of the Non-HCEs of the Plan Sponsor (or Agency Affiliate) for the Look-Back Year (or Determination Year, if so elected by the Plan Sponsor in accordance with Regulations), requiring the Actual Contribution Percentage of the HCEs to be no greater than the Maximum ACP for the Determination Year in order to pass the ACP Test. As permitted or required by Regulations, a Plan Sponsor’s Agency Affiliate will be aggregated with or disaggregated from such Plan Sponsor, as elected by such Plan Sponsor when such Regulations so permit.

2.7 Active Conference Member. A Clergyperson who is not a Retired or terminated Conference Member.

2.8 Active Participant. Any Employee who:

(a) participates or is qualified to participate in the Plan as provided in Section 3, while he or she remains an Employee; and

(b) is not:

(i) a Terminated Participant;

(ii) a Retired Participant (except in the case of a rehired Retired Participant); or

(iii) on a Leave of Absence.

Having an Account Balance in the Plan is participation in the Plan, even if current Contributions are not being made to the Plan. An Employee who has elected not to participate in the Plan but who is qualified to participate under subsection (a) above will be treated as an Active Participant.

2.9 Actual Contribution Amount. The total dollar amount of ACP Contributions and QNECs allocated to an Active Participant with respect to a Plan Year. If an Active Participant is eligible to receive any such contributions under any other 403(b) plan maintained by a Plan Sponsor or an Affiliate (other than a plan that cannot be aggregated with the Plan under §§410(b) and 414(l) of the Code) for such Plan Year, his or her Actual Contribution Amount will include the contributions as determined under such other plan.

2.10 Actual Contribution Percentage. The Actual Contribution Amount allocated to an Active Participant’s Accounts with respect to a Plan Year, expressed as a percentage of such Active Participant’s 415 Compensation (or, if the Plan Sponsor so elects, any other compensation allowed under Regulation §1.401(m)-5) for such Plan Year and calculated

- 9 -

to the nearest 1/100th of a percentage point. The Actual Contribution Percentage of an Active Participant who receives no such Actual Contribution Amount will be zero.

2.11 Administrator. The General Board of Pension and Health Benefits of The United Methodist Church, Incorporated in Illinois or any successor.

2.12 Adoption Agreement. An agreement executed (or deemed to be executed) by each Plan Sponsor and accepted by the Administrator that is a part of this Plan and is the means by which a Plan Sponsor adopts the Plan, becomes a Plan Sponsor, and specifies any optional provisions that are a part of the Plan as to that Plan Sponsor. The Adoption Agreement may be supplemented by a Service Agreement, which the Administrator may require the Plan Sponsor or a separate Salary-Paying Unit to execute as a condition of accepting Contributions for the Plan Sponsor’s or Salary-Paying Unit’s Employees.

2.13 Affiliate. Any entity that, under a reasonable, good faith standard (see IRS Notice 89-23), is:

(a) a corporation that is a member of the same controlled group of corporations, as defined in Code §414(b), as a Plan Sponsor;

(b) a trade or business, whether or not incorporated, that is under common control with a Plan Sponsor within the meaning of Code §414(c);

(c) a member of the same affiliated service group, as defined in Code §414(m), as a Plan Sponsor; or

(d) otherwise required to be aggregated with a Plan Sponsor pursuant to Regulations issued under Code §414(o),

but that is not itself a Plan Sponsor. Effective January 1, 2009, Non-QCCOs may permissively aggregate with other organizations as provided in Regulation §1.414(c)-5.

2.14 Affiliate Member. A person enrolled as an affiliate member in a Conference within the meaning of ¶¶344.4, 370.1, or 586.4 of the Discipline.

2.15 After-Tax Contributions. Participant Contributions made by the Plan Sponsor to the Plan in accordance with an election by a Participant to contribute a portion of his or her Compensation into the Plan as an After-Tax Contribution after receipt of the Compensation for taxation purposes.

2.16 After-Tax Contribution Account. The Account established for an Accountholder on the books and records of the Plan for the purpose of recording any:

(a) After-Tax Contributions made pursuant to Section 4.2(a)(i)(B); and

(b) after-tax transfers made pursuant to Section 4.7;

adjusted for any applicable Debits or Credits attributable to such Contributions.

- 10 -

2.17 Age 50 Catch-Up Contributions. Before-Tax and/or Roth Contributions made on behalf of a Participant who has attained, or is expected, by the end of the Plan Year, to attain (even if death, Termination of Conference Relationship, or Termination of Employment intervenes), age 50 and who has exceeded the limits otherwise applicable under Code §402(g) and Section 5.2(a), provided that such Contributions do not exceed the limits specified in Section 4.2(c)(ii)(B).

2.18 Agency Affiliate. Any entity that is owned or controlled by a General Agency Plan Sponsor, such as a separately incorporated Affiliate, that has employees who are not common law employees of the Plan Sponsor.

2.19 Aggregate Account Balance. The sum of an Accountholder’s:

(a) Vested Account Balance in this Plan; plus

(b) vested account balances in all other plans administered by the Administrator (except pre-82 balances in MPP).

2.20 Alternate Payee. A Participant’s Spouse, former Spouse, child, or other dependent entitled to receive a portion of such Participant’s Account under a QDRO.

2.21 Annual Additions. Effective January 1, 2008, the sum of:

(a) Plan Sponsor Contributions made by a Plan Sponsor (and any other employer contributions made under any other Code §403(b) defined contribution plan maintained by a Plan Sponsor, or a 415 Affiliate aggregated under Code §415(k)(4)), even if made in excess of Code §401(m)(2) limits;

(b) Participant Contributions (other than Age 50 Catch-Up Contributions) made under the Plan;

(c) any before-tax, salary-deferral contributions made on behalf of such Participant under any other Code §403(b) defined contribution plan maintained by a Plan Sponsor, or a 415 Affiliate aggregated under Code §415(k)(4);

(d) any after-tax contributions made on behalf of such Participant under any other Code §403(b) defined contribution plan maintained by a Plan Sponsor, or a 415 Affiliate aggregated under Code §415(k)(4);

(e) reallocated Forfeitures, if any;

(f) any Roth contributions made under Code §402A under any other Code §403(b) defined contribution plan maintained by a Plan Sponsor, or a 415 Affiliate aggregated under Code §415(k)(4); and

(g) for the purpose of Section 5.1(a)(i)(A) only (and not Section 5.1(a)(i)(B)), any amounts allocated to an individual medical account, as defined in Code §415(l)(2), that is part of a pension or annuity plan maintained by a Plan Sponsor,

- 11 -

amounts derived from contributions that are attributable to post-retirement medical benefits, allocated to the separate account of a key employee, as provided in Code §419A(d)(3); required employee contributions to a defined benefit plan; and amounts allocated to a simplified employee pension that is maintained by the Plan Sponsor, all if allocated or contributed to a Code §403(b) plan,

that are credited, in a Limitation Year, to such Participant’s Account or on behalf of such Participant to such other Code §403(b) defined contribution plan, individual medical account, or other plan that is maintained by the Plan Sponsor, or that is maintained by a 415 Affiliate that is aggregated with this Plan for the purpose of Section 5.1. Catch-up contributions under Code §414(v); Roth Conversions made pursuant to Section 4.8; earnings on a Participant’s Account; distributed excess deferrals; plan loan repayments; repayment of previously distributed benefits; restorative payments to correct situations that could reasonably result in federal or state fiduciary liability; direct transfers of benefits from one plan to another; rollover contributions under Code §§402(c) or 408(d) made to a Plan Sponsor’s, or an aggregated 415 Affiliate’s, plan; and adjustments to investment earnings due to late or erroneous contributions are not included in Annual Additions. Annual additions to Code §401(a), §457, or other non-§403(b) plans are subject to separate limitations under Code §415(c) and Regulation §1.415-8(d)(1).

2.22 Annual Conference. The basic body of The United Methodist Church as further described in ¶33 and in Section IX of Chapter Four of Part VI of the Discipline.

2.23 Application for Benefits. A Form established by the Administrator from time to time upon which a Participant, Terminated Participant, or other Accountholder officially applies for benefits under the Plan.

2.24 Appoint or Appointment. Officially appointed by a Bishop to a ministry pursuant to ¶¶425 through 430 of the Discipline.

2.25 Approved Conference-Elective Extension Ministry List. A list of extension ministries reported annually to the Administrator by a Conference. By reporting any such extension ministry, a Conference Plan Sponsor agrees to make contributions under the Plan on behalf of all Clergypersons Under Episcopal Appointment by that Conference’s Bishop to that extension ministry. A Conference may add or remove extension ministries from the Approved Conference-Elective Extension Ministry List annually as of a date specified from time to time by the Administrator during such reporting period as the Administrator may designate from time to time, but once an extension ministry is reported for the Approved Conference-Elective Extension Ministry List, it will remain on the list until it is removed by a Conference as of a later annually-specified date based on the Conference’s later report during a designated annual reporting period.

2.26 Associate Member. A person elected to associate membership in an Annual Conference within the meaning of ¶¶227, 321, 322, or 370.1 of the Discipline.

2.27 Automatic Contribution Escalation. An option under which the rate of Participant Contributions of a contributing Participant escalates annually by a selected percentage of

- 12 -

the Participant’s Compensation (in an increment acceptable to the Administrator), at a selected month of the year, unless the contributing Participant opts out of the feature on a Form acceptable to the Administrator, or unless the contributing Participant is a member of a category of Participants that is ineligible for escalation, as defined by the Administrator from time to time. This option may be elected by a Plan Sponsor on its Adoption Agreement if that Plan Sponsor has also elected Automatic Enrollment. Plan Sponsors making the election may choose the percentage rate of increase, the month of the year in which the increase occurs, and the contribution rate at which escalation ceases. This option may also, at the Administrator’s discretion, be elected by individual Participants whose Plan Sponsor has not elected Automatic Contribution Escalation. Such individuals may make the same elections as Plan Sponsors, except for the month in which the escalation occurs. The Automatic Contribution Escalation option is subject to any rules or procedures that the Administrator chooses to implement.

2.28 Automatic Enrollment. An option that a Plan Sponsor may elect on its Adoption Agreement that provides that Employees of the Plan Sponsor who belong to a covered category of Employees specified on the Adoption Agreement and who are eligible for Participant Contributions under the Plan will be enrolled by the Plan Sponsor (after an appropriate Notice of same to each such Employee) for Before-Tax Contributions of a chosen percentage of at least 1% (in an increment acceptable to the Administrator) of each such Employee’s Compensation (as elected by the Plan Sponsor on its Adoption Agreement), unless any such Employee elects, in a Form acceptable to the Administrator, not to make such Contributions or to change their amount or type or unless the contributing Participant is a member of a category of Participants that is ineligible for Automatic Enrollment, as defined by the Administrator from time to time.

2.29 Before-Tax Contributions. Participant Contributions made by the Plan Sponsor to the Plan in accordance with an Automatic Enrollment or a Salary-Reduction Agreement pursuant to an election by a Participant to defer a portion of his or her Compensation into the Plan as a Before-Tax Contribution before receipt of the Compensation for taxability purposes.

2.30 Before-Tax Contribution Account. The Account established for an Accountholder on the books and records of the Plan for the purpose of recording any:

(a) Before-Tax Contributions made pursuant to Section 4.2(a)(i); and

(b) before-tax transfers made pursuant to Section 4.7;


2.31 Beneficiary. An Accountholder’s Designated Beneficiary or Default Beneficiary in accordance with Section 8.13.

2.32 Bishop. A bishop of The United Methodist Church elected by a Jurisdictional Conference in accordance with ¶405 of the Discipline and continuing to serve under Section III of Chapter Three of Part VI of the Discipline.

- 13 -

2.33 Break in Service. A period of time relating to an Employee’s severance from service with a particular Plan Sponsor:

(a) beginning on the day the Employee:

(i) incurs a Termination of Employment with;

(ii) incurs a Termination of Conference Relationship with; or

(iii) Retires from employment with

that Plan Sponsor and its Affiliates that results in the cessation of crediting Hours of Paid Service; and

(b) ending (if at all) on the day he or she is Reemployed by that Plan Sponsor or any of its Affiliates.

Taking a Leave of Absence, taking a Paid Leave, or becoming (and remaining) Disabled does not begin a Break in Service.

2.34 Business Day. A day on which both the New York Stock Exchange (or its successor) and the Administrator are open for business.

2.35 Cash Installments. A distribution option described in Section 8.1(c).

2.36 Catch-Up Contributions. Either or both of Age 50 Catch-Up Contributions or 15-Year Catch-Up Contributions.

2.37 Church Plan. A plan, such as this Plan, qualifying under Code §414(e) or ERISA §3(33) that has not made an election under Code §410(d).

2.38 Claimant. A person who makes a claim for benefits under the Plan or who appeals the denial of such a claim, or such person’s representative.

2.39 Clergy Employee. An Employee who is:

(a) a Clergyperson who is:

(i) Under Episcopal Appointment to; or

(ii) on a Leave of Absence from:

a Plan Sponsor; or

(b) a Bishop (whose Plan Sponsor is GCFA).

2.40 Clergyperson. One of the following persons who is not a Bishop:

(a) an Elder in Full Connection;

- 14 -

(b) a Deacon in Full Connection;

(c) a Local Pastor;

(d) an Affiliate Member;

(e) a Provisional Member;

(f) an Associate Member; or

(g) a clergyperson of another denomination within the meaning of ¶¶346.2 or 346.3 of the Discipline

who, solely for the purpose of eligibility for the Plan under Section 3, is an Active Conference Member.

2.41 Code. The Internal Revenue Code of 1986, as now in effect or as hereafter amended, and any regulation, ruling, or other administrative guidance issued with respect thereto by the IRS.

2.42 Compensation. In a Plan Year, for a Participant, the sum of the following:

(a) the Participant’s 415 Compensation, but excluding:

(i) any Includible Compensation earned outside of such Plan Year, other than Includible Compensation of a Participant eligible under Section 3.2(h); and

(ii) any 415 Compensation paid to the Participant in lieu of Plan Sponsor-provided group health plan coverage, including coverage of the Participant’s family members, as determined by the Plan Sponsor in accordance with procedures that may be established by the Administrator;

(b) in the case of a Participant who is a Clergy Employee, cash received from a Plan Sponsor (or such Plan Sponsor’s Agency Affiliate) and excluded from taxable cash salary pursuant to Code §107(2); and

(c) when, as part of such Participant’s compensation:

(1) a parsonage is provided to a Clergy Employee Participant under Code §107(1); or

(2) housing is provided tax-free to a Lay Employee Participant under Code §119 or another applicable Code provision,

then 25% of the sum of:

(i) the Participant’s 415 Compensation as provided in subsection (a) above; and

- 15 -

(ii) any cash excluded from taxable cash salary pursuant to Code §107(2) as provided in subsection (b) above.

The Compensation of a Participant taken into account for any Contributions made with respect to any Plan Year beginning after December 31, 2009, may not exceed $245,000, as adjusted for cost-of-living increases in accordance with Code §401(a)(17)(B) ($270,000 in 2017). Effective January 1, 2008, the limit in the foregoing sentence (as it applies or applied for any year) applies only to Participants whose Plan Sponsors are Non-QCCOs.

2.43 Conditional Contribution. A type of Plan Sponsor Contribution to a Participant’s Account that is made in the amount of a predetermined percentage of at least 1.00% of the Participant’s Compensation on the condition that the Participant makes a Participant Contribution to the Plan in a specified Decimal Percentage of Compensation. The Plan Sponsor elects in its Adoption Agreement both its own predetermined Decimal Percentage of at least 1.00% of the Participant’s Compensation that will constitute its Plan Sponsor Contribution to each Participant’s Conditional Contribution Account and the minimum Participant Contribution percentage of Compensation a Participant must elect to earn the Conditional Contribution for each Contribution Period.

2.44 Conditional Contribution Account. The Account established for an Accountholder in the books and records of the Plan for the purpose of recording any:

(a) Conditional Contributions made pursuant to Section 4.1(a)(iii); and

(b) Conditional Contribution-type transfers made pursuant to Sections 4.7 and 4.8;


2.45 Conference. Any Annual Conference, Provisional Conference, or Missionary Conference that is described in the Discipline and is located in a Jurisdictional Conference. When speaking of a Clergyperson’s Conference, it is:

(a) the Conference in which such Clergyperson is a Conference Member (except as provided in subsection (c) below);

(b) the Conference whose Bishop Appoints such Clergyperson or grants him or her a Leave of Absence, when such Clergyperson is not a Conference Member of any Conference; or

(c) the Conference in which the Clergyperson is to serve under ¶346.1 of the Discipline, when a Clergyperson retains Conference Membership in his or her home Conference but receives an Appointment to serve in another Conference.

2.46 Conference-Elective Entity. Any extension ministry (such as an agency, a camp, or a foundation) that is on a Conference’s Approved Conference-Elective Extension Ministry List.

- 16 -

2.47 Conference Member. A Clergyperson specified in ¶¶581.1, 586.4, or 602.1 of the Discipline.

2.48 Conference-Responsible Unit. As provided in ¶344.1a)(1) of the Discipline, an Annual Conference unit within the connectional structures of United Methodism to which certain Clergy are Appointed, such as district superintendents, staff members of conference councils and boards, treasurers, bishops’ assistants, superintendents or directors of parish development, general evangelists, and campus ministers, and for which unit the Annual Conference provides for Contributions to the Plan on behalf of such Clergy. Appointments described above that are to the Annual Conference itself (rather than a unit thereof) are also included within the term.

2.49 Contribution. A Plan Sponsor Contribution or a Participant Contribution.

2.50 Contribution Period. The time period during which Compensation on which a Plan Sponsor Contribution or Participant Contribution is based is earned by a Participant. It is often the same as a payroll period, but may be as long as a Plan Year. The Plan Sponsor elects the Contribution Period in its Adoption Agreement within the parameters permitted therein or in rules established by the Administrator.

2.51 Contribution Rate. With respect to a Non-HCE of a Non-QCCO:

(a) the sum of all Matching Contributions, Conditional Contributions, and QNECs made with respect to the Non-HCE (and used in the ACP Test) for a given Plan Year; divided by

(b) such Non-HCE’s 415 Compensation (or, if the Plan Sponsor so elects, any other definition of compensation allowed under Regulation §1.401(m)-5) for such Plan Year.

2.52 CPBF. The Cumulative Pension and Benefit Fund, a predecessor to the Plan incorporated in Supplement One.

2.53 CPBF Participant. A participant in CPBF or its predecessor plans before January 1, 2006.

2.54 CPP. The Comprehensive Protection Plan, a Church Welfare Benefits Plan for Clergy Associated with a Jurisdictional Conference of The United Methodist Church, as amended from time to time.

2.55 CPP Disabled or CPP Disability. Receiving disability benefits under CPP, or having been awarded disability benefits under CPP, as determined by the Administrator.

2.56 CRSP. The Clergy Retirement Security Program, a Code §403(b)(9) plan that provides benefits to eligible clergy funded by plan sponsor contributions and that is administered by the General Board.

2.57 Credit. Any adjustment to an Account reflecting any applicable interest, earnings, gains,

- 17 -

Forfeitures credited, transfers in, corrections, unrealized appreciation, and/or other addition to an Account.

2.58 Deacon in Full Connection. A member of the Order of Deacons within the meaning of ¶¶306-309 of the Discipline who is a member of a Conference and not a Provisional Member.

2.59 Debit. Any adjustment to an Account reflecting any applicable withdrawals, distributions, expenses, fees, Forfeitures charged, losses, transfers out, corrections, unrealized depreciation, and/or other reduction to an Account.

2.60 Decimal Percentage. A number expressed as a percentage of up to two decimal points of exactness, such as 3.25% or 2.33%.

2.61 Default Beneficiary. The person(s) (including an estate) specified in Section 8.13, or elsewhere in the Plan, to receive benefits that are payable at the death or disappearance of an Accountholder when there is no Designated Beneficiary or when the Plan so provides.

2.62 Designated Beneficiary. The person(s) (including a trust or other entity), designated by an Accountholder, as set forth in Section 8.13, elsewhere in the Plan, in Code §401(a)(9), or in Regulation §1.401(a)(9)-4, who is receiving, entitled to receive, or at the death or disappearance of an Accountholder will be entitled to receive the residual interest under the Plan that is payable following such Accountholder’s death or disappearance.

2.63 Determination Year. The Plan Year for which the ACP Test is performed with respect to a Plan Sponsor.

2.64 Disabled. Any of the following with respect to an Employee:

(a) determined to be disabled by the Social Security Administration;

(b) being CPP Disabled;

(c) being LTD Plan Disabled;

(d) placed on Medical Leave; or

(e) in the case of an Employee or a Terminated Participant who is not eligible for a Social Security Administration determination of disability, determined to be disabled by an outside professional firm selected by the Administrator, based on reasonable and consistently applied factors established by the Administrator from time to time.

2.65 Discipline. The Book of Discipline of The United Methodist Church 2016, the body of church law established by General Conference, as amended and restated from time to time. Cited paragraphs or other subdivisions are deemed to refer to successor provisions when an amendment or restatement of the Discipline causes a change in citation.

- 18 -

2.66 Disclaim. To refuse or waive a benefit before receiving it, such that it passes to another person under the terms of the Plan, such as a successor Beneficiary.

2.67 Discretionary Contribution. A Plan Sponsor Contribution with respect to a contribution Plan Year:

(a) in any Decimal Percentage of the Participant’s Compensation;

(b) in any flat dollar amount; or

(c) determined in accordance with such other formula as the Plan Administrator may permit from time to time

that the Plan Sponsor may (or may not) elect to:

(1) declare at any time from January 1 of the contribution Plan Year through May 1 of the following Plan Year (or such other date that is specified by the Administrator); and

(2) contribute to Discretionary Contribution Accounts of eligible Participants at any time from January 1 of the contribution Plan Year through June 15 of the following Plan Year (or such other date that is specified by the Administrator and permissible under applicable law and Regulations).

Such declaration and contributions are made in a Form acceptable to, and subject to rules and procedures established by, the Administrator.

2.68 Discretionary Contribution Account. The Account established for an Accountholder on the books and records of the Plan for the purpose of recording any Discretionary Contributions held pursuant to Section 4.1(a)(iv), adjusted for any applicable Debits or Credits attributable to such Contributions.

2.69 Distribution Calendar Year. A calendar year for which a minimum distribution is required under Code §401(a)(9). For distributions beginning before a Participant’s death, the first Distribution Calendar Year is the calendar year immediately preceding the calendar year that contains the Participant’s Required Beginning Date. For distributions beginning after a Participant’s death, the first Distribution Calendar year is the calendar year in which distributions are required to begin under Section 8.4 and the comparable year under Supplements One and Two. The required minimum distribution for the Participant’s first Distribution Calendar Year will be made on or before the Participant’s Required Beginning Date. The required minimum distribution for other Distribution Calendar Years, including the required minimum distribution for the Distribution Calendar Year in which the Participant’s Required Beginning Date occurs, will be made on or before December 31 of that Distribution Calendar Year. Notwithstanding the foregoing, calendar year 2009 will not be treated as a Distribution Calendar Year.

2.70 Distribution-Eligible Participant. A Participant who, with respect to a Plan Sponsor:

- 19 -

(a) Retires; or

(b) is a:

(i) Clergy Employee and incurs a Termination of Employment with such Plan Sponsor and either:

(A) a Termination of Conference Relationship with his or her Conference; or

(B) a Five-Year No Record of Appointment with his or her Conference; or

(ii) Lay Employee and incurs a Termination of Employment with such Plan Sponsor.

An Alternate Payee is a Distribution-Eligible Participant with respect to the Account Balance assigned to such Alternate Payee under the QDRO. Accountholders not mentioned above (or mentioned above but eligible for different reasons) may be eligible for a withdrawal or distribution under the Plan without being Distribution-Eligible Participants.

2.71 Due Date. The day specified by the Administrator from time to time on which Contributions of a particular type are due, after any grace periods have passed. The Due Date may be different from one Contribution type to another.

2.72 Early Retirement Date. The first day of the month coinciding with or next following the date an Employee Retires:

(a) in the case of a Clergy Employee, on or after:

(i) the age or service completion date specified in ¶358.2b) of the Discipline; or

(ii) age 62, in the case of a Clergy Employee who Retires in accordance with ¶¶358.2a) (20 years of service) or 358.3 (involuntary retirement) of the Discipline; or

(b) in the case of a Lay Employee who is employed by:

(i) a General Agency on or after:

(A) the date specified in the General Agency’s policy on elective retirement for pension purposes (which must be consistent with ¶715.3 of the Discipline); or

(B) the Employee’s 55th birthday, if there is no such policy or such policy does not clearly apply to this Plan; or

- 20 -

(ii) any Plan Sponsor other than a General Agency, on or after the Employee’s 55th birthday; and

before such Employee’s Normal Retirement Date.

2.73 Effective Date. The Plan was originally effective on January 1, 2006, and that is still the “Effective Date” as that term is used in the Plan. This amendment and restatement of the Plan is generally effective January 1, 2017, except as otherwise specifically stated.

2.74 Elder in Full Connection. A member of the Order of Elders within the meaning of ¶¶306-309 of the Discipline who is a member of a Conference and not a Provisional Member.

2.75 Eligible Rollover Distribution. Any distribution of all or any portion of the Vested Account Balance to the credit of a distributee covered under Section 8.5, or any comparable Section, except that the term “Eligible Rollover Distribution” does not include:

(a) any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of such distributee or the joint lives (or joint life expectancies) of such distributee and such distributee’s Beneficiary or for a specified period of 10 years or more;

(b) any distribution to the extent such distribution is required under Code §401(a)(9);

(c) any hardship distribution similar to one described in Code §401(k)(2)(B)(i)(IV);

(d) any corrective distribution of excess amounts under Code §§402(g), 401(k), 401(m), and/or 415(c) and income allocable thereto;

(e) any loans that are treated as deemed distributions pursuant to Code §72(p);

(f) dividends paid on employer securities as described in Code §404(k);

(g) the costs of life insurance coverage (P.S. 58 costs);

(h) prohibited allocations that are treated as deemed distributions pursuant to Code §409(p);

(i) a distribution that is a permissible withdrawal from an eligible automatic contribution arrangement within the meaning of Code §414(w); or

(j) any other excluded distribution described in Code §402(c)(4), Regulations thereunder, or any other provision of the Code or Regulations.

A portion of a distribution will not fail to be an Eligible Rollover Distribution merely because the portion consists of after-tax employee contributions that are not includible in gross income. However, such portion may be transferred only to: (1) an IRA; or (2) a

- 21 -

qualified plan described in Code §§401(a), 403(a), or 403(b) that agrees to separately account for amounts so transferred, including separately accounting for the portion of such distribution that is includible in gross income and the portion of such distribution that is not so includible.

2.76 Eligibility Service. Service that an Employee must perform before he or she may become a Participant. Eligibility Service includes only the time serving the Plan Sponsor that sponsors the Plan in which the Employee seeks to participate, unless elected otherwise by the Plan Sponsor pursuant to its Adoption Agreement.

2.77 Employee. Any person who is:

(a) a Clergyperson Under Episcopal Appointment to a Salary-Paying Unit;

(b) a Bishop (who will be treated as an Employee of GCFA for the purposes of this Plan);

(c) currently employed (in the common law sense) by a Plan Sponsor (but excluding a self-employed person), or who is a Leased Employee with respect to a Plan Sponsor, but such term excludes:

(i) any person who is retained as or through an independent contractor, and

(ii) any nonresident alien who receives no earned income (as defined in Code §911(d)(2)) from a Plan Sponsor that constitutes income from sources within the United States (as defined in Code §861(a)(3)); or

(d) currently employed (in the common law sense) by an Agency Affiliate of a Plan Sponsor and specified (by name or class of person) on the Plan Sponsor’s Adoption Agreement as being covered by the Plan as though such person were:

(i) a common law employee of the Plan Sponsor; or

(ii) in the case of a Clergyperson, as though such Clergyperson were Appointed to the Plan Sponsor.

Such a person will be treated as an Employee of the Plan Sponsor for the purposes of this Plan.

A Disabled person or a person on a Leave of Absence is deemed to be an Employee until he or she incurs a Break in Service. At any given time each Employee is either a Clergy Employee or a Lay Employee with respect to each Plan Sponsor.

2.78 Entry Date.

(a) With respect to Participant Contributions, the date determined in accordance with Sections 3.2(a) and (e) upon which an Employee becomes a Participant in the Plan with respect to qualifying to receive Participant Contributions.

- 22 -

(b) With respect to Plan Sponsor Contributions, the date determined in accordance with Section 3.3 upon which an Employee becomes a Participant in the Plan with respect to qualifying to receive Plan Sponsor Contributions after first satisfying the applicable eligibility requirements in Section 3.2.

2.79 ERISA. The Employee Retirement Income Security Act of 1974, as now in effect or as hereafter amended, and any regulation, ruling, or other administrative guidance issued pursuant thereto by the Internal Revenue Service, the Department of Labor, or the Pension Benefit Guaranty Corporation.

2.80 15-Year Catch-Up Contributions. Before-Tax Contributions or Roth Contributions made under Section 4.2(b) that a Participant with 15 years of 15-Year Catch-Up Service may make to the Plan that exceed the Code §402(g) limit provided in Section 5.2(a).

2.81 15-Year Catch-Up Aggregate Sum. For any Participant with 15-Year Catch-Up Service, the sum of the following for all years since the Participant first qualified to make Contributions taken into account under Code §402(g)(7)(A)(ii) or (iii):

(a) 15-Year Catch-Up Contributions made pursuant to Section 4.2(b);

(b) 15-Year Catch-Up Contributions transferred to the Plan pursuant to Section 4.7;

(c) any contributions qualifying under Code §402(g)(7)(A)(ii) or (iii) that were made to another plan before the Effective Date, to the extent known by the Administrator and/or as further specified in Regulations; and

(d) any contributions qualifying under Code §402(g)(7)(A)(ii) or (iii) that were made outside of this Plan after the Effective Date, to the extent known by the Administrator and/or as further specified in Regulations;

established for a Participant on the books and records of the Plan for the purpose of recording a running total of such contributions to be used in computing whether the Participant may make additional 15-Year Catch-Up Contributions pursuant to Section 4.2(b). A Participant’s 15-Year Catch-Up Aggregate Sum will not be adjusted for any applicable Debits or Credits attributable to the contributions listed in subsections (a)-(d) above, unless required by applicable Regulations.

2.82 15-Year Catch-Up Service. Service that an Employee must perform before he or she may become eligible to make 15-Year Catch-Up Contributions. An Employee’s 15-Year Catch-Up Service includes paid time serving any Plan Sponsor or any organization controlled by or associated with The United Methodist Church (or its predecessors), even for organizations that are not Plan Sponsors. A Break in Service will not affect the aggregate months or years of 15-Year Catch-Up Service. It is computed as provided in Regulations under Code §403(b).

2.83 Final CPBF Account Balance. The last Account Balance of a CPBF Participant (or other Accountholder) in CPBF on December 31, 2005 just before such Account Balance was transferred to the Plan in accordance with Section S1.3 of Supplement One. Any

- 23 -

Contributions to be credited to CPBF by December 31, 2005 that are received by the Administrator or Trustee after December 31, 2005 will be treated as though they had been timely received in accordance with rules and procedures adopted by the Administrator. Any Debit or Credit adjustments made after December 31, 2005 because of a delay in transferring the CPBF Account Balance to the Plan will be treated as though they were part of a CPBF Participant’s December 31, 2005 CPBF Account Balance when it is transferred.

2.84 Final PIP Account Balance. The last Account Balance of a PIP Participant (or other Accountholder) in PIP on December 31, 2005 just before such Account Balance was transferred to the Plan in accordance with Section S2.3 of Supplement Two. Any Contributions to be credited to PIP by December 31, 2005 that are received by the Administrator or Trustee after December 31, 2005 will be treated as though they had been timely received in accordance with rules and procedures adopted by the Administrator. Any Debit or Credit adjustments made after December 31, 2005 because of a delay in transferring the PIP Account Balance to the Plan will be treated as though they were part of a PIP Participant’s December 31, 2005 PIP Account Balance when it is transferred.

2.85 Five-Year Distribution Option. A form of distribution that may be elected by, or is applicable to, a Beneficiary that distributes a Participant’s entire interest in the Plan by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.

2.86 Five-Year No Record of Appointment. With respect to a Provisional Member, Associate Member, Deacon in Full Connection, or Local Pastor, a 60-consecutive-month period during which the Provisional Member, Associate Member, Deacon in Full Connection, or Local Pastor (or some combination in the case of a Clergyperson who changes classification) is not Under Episcopal Appointment and not on a Leave of Absence (other than a Transitional Leave or its equivalent).

2.87 Forfeitable Account Balance. Any portion of a Participant’s Account Balance that is not 100% Vested. Such Forfeitable Account Balance will be treated as part of a separate 403(c) Contract under the Plan.

2.88 Forfeiture. The portion of a Participant’s Account that exceeds the Vested portion when he or she incurs a Break in Service or that is otherwise forfeited as provided in Section 7.5. A Forfeiture can be restored to a Participant as provided in Section 7.2(b). A Forfeiture will be treated as part of a separate 403(c) Contract under the Plan.

2.89 Forfeiture Account. An Account in the name of each Plan Sponsor that receives any Forfeitures attributable to that Plan Sponsor from a Forfeiture Suspense Account as provided in Section 7.2(b) when a Participant incurs a One-Year Break in Service. A Forfeiture Account may also hold amounts from other sources as provided in the Plan. A Forfeiture Account will not include any Forfeitures arising under Sections 7.5(a), (b), or (c). A Forfeiture Account will be treated as part of a separate 403(c) Contract under the Plan. Forfeiture Accounts may be invested or adjusted for Credits and Debits in

- 24 -

accordance with rules established from time to time by the Administrator.

2.90 Forfeiture Suspense Account. An Account in the name of both a Participant who has incurred a Break in Service and his or her former Plan Sponsor. The Forfeiture Suspense Account receives any Forfeitures attributable to such Participant from a Forfeitable Account Balance that is not Vested when the Participant incurs a Break in Service as further provided in Section 7.2(b). A Forfeiture Suspense Account will be treated as part of a separate 403(c) Contract under the Plan. The Administrator may invest the Forfeiture Suspense Account or adjust it for Credits and Debits in accordance with rules established from time to time by the Administrator.

2.91 Form. Any means of recording and conveying an authenticated election or other authenticated information to the Administrator, Salary-Paying Unit, or Plan Sponsor, including, but not limited to, the following:

(a) A signed paper form;

(b) An internet or extranet submitted form that is authenticated (regarding who is the submitter) in a manner acceptable to the Administrator, Salary-Paying Unit, or Plan Sponsor to which the form is directed;

(c) An interactive voice response selection that is authenticated (regarding who is the responder) in a manner acceptable to the Administrator, Salary-Paying Unit, or Plan Sponsor to which the selection is directed; and

(d) An electronically recorded (or other exact means of recordation) oral election or oral statement of information that is authenticated (regarding who is the speaker) in a manner acceptable to the Administrator, Salary-Paying Unit, or Plan Sponsor to which the election or statement of information is directed.

The Administrator, Salary-Paying Unit, or Plan Sponsor to which the form, selection, election, or statement of information is directed will develop rules from time to time regarding retention of the foregoing information and any other needed procedures.

2.92 403(c) Contract. A separate contract under the Plan that is not qualified under Code §403(b) (as are most Accounts under the Plan). Any non-Vested amounts will be held in Accounts that are part of the 403(c) Contract, which will be taxable, or not, to each Participant in accordance with Code §§61, 83, 402(b), and 403(c) (generally not taxable when not Vested because of a Participant’s substantial risk of forfeiture). Amounts in the 403(c) Contract that become Vested are automatically returned to an Account in the Plan that is qualified under Code §403(b).

2.93 415 Affiliate. An entity that either is an Affiliate, or would be an Affiliate if Code §414 were modified in the manner provided by Code §415(h).

2.94 415 Compensation. Effective January 1, 2008, all Includible Compensation paid or made available by a Salary-Paying Unit or Plan Sponsor (or such Plan Sponsor’s Agency Affiliate, or 415 Affiliate aggregated under Code §415(k)(4)) to an Employee in

- 25 -

exchange for services rendered, including:

(a) the Employee’s wages, salaries, fees for professional services, and other amounts received (without regard to whether or not an amount is paid in cash) for personal services actually rendered in the course of employment with the Plan Sponsor (or such Plan Sponsor’s Agency Affiliate, or 415 Affiliate aggregated under Code §415(k)(4)) to the extent that the amounts are includible in gross income (including, but not limited to, bonuses, fringe benefits, and reimbursements or other expense allowances under a nonaccountable plan (as described in Regulation §1.62-2(c)), but excluding severance pay that would not have been paid but for a severance from employment;

(b) amounts received in connection with accident or sickness and described in Code §§104(a)(3), 105(a), and 105(h) (including paid sick leave, salary continuance during a work absence on account of illness or injury, and short-term disability benefits), but only to the extent that these amounts are includible in the gross income of the Employee;

(c) amounts includible in the gross income of the Employee:

(i) paid for, or as reimbursements of, moving expenses;

(ii) under Code §409A, Code §457(f)(1)(A), or the doctrine of constructive receipt;

(iii) as gain under a Code §83(b) election; and

(iv) differential compensation, as provided under USERRA and the Heart Act;

(d) any elective contributions excluded from income under Code §125 (relating to cafeteria plans), Code §132(f) (relating to qualified transportation fringe benefits), Code §402(e)(3) (relating to 401(k) plans), Code §402(h) (relating to simplified employee pension plans), Code §403(b) (relating to tax-sheltered annuity plans), or compensation deferred under a plan qualified under Code §457; and

(e) any of the following compensation earned before, but paid within the 2½ months after, a Termination of Employment or Retirement: sick leave, accrued sick leave, vacation pay, accrued vacation pay, regular pay, overtime pay, bonuses, or other compensation that would normally have been paid in the normal course of employment. Notwithstanding the foregoing, the following payments, when paid after a Termination of Employment or Retirement, are not 415 Compensation: severance pay, unfunded nonqualified deferred compensation, and parachute payments.

For the purposes of subsection (a) above, “415 Compensation” includes foreign earned income (as defined in Code §911(b)), whether or not excludable from gross income under Code §911. Compensation described in subsection (a) above is to be determined without regard to the exclusions from gross income in Code §§872(b), 893, 894, 911, 931, and

- 26 -

933 (dealing with income from sources outside of the United States). The term “415 Compensation” does not include:

(i) Contributions made by a Plan Sponsor to the Plan (including before-tax Participant salary deferral contributions, but excluding after-tax Participant contributions), or distributions from a plan of deferred compensation, regardless of whether such amounts are includable in the gross income of the Employee when distributed. However, any amounts received by an Employee pursuant to an unfunded nonqualified plan will be considered as “415 Compensation” in the year the amounts are includable in the gross income of the Employee;

(ii) Imputed investment earnings deposited to a Participant’s Account by the Administrator, Plan Sponsor, Agency Affiliate, or 415 Affiliate aggregated under Code §415(k)(4) because of late or erroneous Contributions to the Plan;

(iii) Other amounts that receive special tax benefits, such as premiums for group-term life insurance (but only to the extent that the premiums are not includable in the gross income of the Employee) or housing allowance excludable under Code §107; or

(iv) Amounts paid after severance from employment, except that “415 Compensation” does include:

(A) Amounts paid under subsection (a) above that are paid after severance from employment but within the Limitation Year in which services were rendered or within 2½ months following such severance from employment;

(B) Amounts paid under subsection (b) above that are paid after severance from employment but within the Limitation Year in which such accident or sickness existed or within 2½ months following such severance from employment; and

(C) Amounts received pursuant to an unfunded nonqualified deferred compensation plan that are paid after severance from employment, but only to the extent that such amounts:

(I) would have been paid at the same time had there been no severance from employment;

(II) are included in the Employee’s gross income; and

(III) are paid within the Limitation Year in which severance occurred or within 2½ months following such severance from employment.

2.95 415 Suspense Account. An Account in the name of a Plan Sponsor used to temporarily hold Contributions that exceed the limits of Section 5.1(a) until they can be reallocated to Participant Accounts as provided in Section 5.1(c). A 415 Suspense Account will be

- 27 -

adjusted for Credits and Debits in accordance with rules adopted by the Administrator.

2.96 Full-Time. In the case of an Employee, regularly employed by a Plan Sponsor and rendering or expected to render at least:

(a) 1,000 Hours of Paid Service per year; or

(b) 1,040 Hours of Paid Service per year

as elected by the Plan Sponsor on its Adoption Agreement (when applicable).

2.97 Gap Period. The period between the end of a Determination Year and the date that excess Contributions are refunded to a Participant.

2.98 GCFA. The General Council on Finance and Administration, which is a General Agency, as further described in Section II of Chapter Five of Part VI of the Discipline.

2.99 General Agency. Any of the general agencies of The United Methodist Church specified in ¶¶701.3, 703.1, 703.5, or 703.6 of the Discipline.

2.100 General Board. Effective January 1, 2007, the General Board of Pension and Health Benefits of The United Methodist Church, Incorporated in Illinois.

2.101 General Conference. The General Conference of The United Methodist Church, the highest legislative body in the denomination, as described in Section I of Chapter Four of Part VI of the Discipline.

2.102 HCE. An acronym for “highly compensated employee,” namely, each Employee who performed services for a Plan Sponsor during the Determination Year and who received 415 Compensation from the Plan Sponsor or Salary-Paying Unit during the Look-Back Year that was greater than or equal to the Highly Compensated Level, subject to the following special rules:

(a) A former Employee will be treated as an HCE if he or she was an HCE either:

(i) when he or she became a Terminated Employee or Retired Employee; or

(ii) at any time after attaining age 55.

(b) A nonresident alien who receives no earned income (within the meaning of Code §911(d)(2)) that constitutes income from sources within the United States (within the meaning of Code §861(a)(3)) from a Plan Sponsor, Salary-Paying Unit, or Affiliate during any Plan Year will not be considered an HCE for any purpose of this Section.

(c) If the Plan Sponsor so elects on its Adoption Agreement, in addition to having 415 Compensation that was greater than the Highly Compensated Level, each

- 28 -

Employee must also have been a member of the Top-Paid Group for the Look-Back Year in order to be an HCE in the Determination Year.

(d) Instead of 415 Compensation, a Plan Sponsor may elect to use any other definition of compensation permitted under Regulations under Code §403(b) (or any other Code provisions or Regulations cited in such Regulations).

The purpose of this Section is to conform to the definition of “highly compensated employee” set forth in Code §414(q), as in effect on the Effective Date or as thereafter amended, which is incorporated herein by this reference. To the extent that this Section is inconsistent with Code §414(q), either by excluding employees who would be classified as “highly compensated employees” thereunder or by including employees who would not be so classified, the provisions of Code §414(q) will govern and control. The Administrator may make any elective adjustment to the definition of HCE permitted by Code §414(q) in accordance with Regulations or other guidance issued thereunder. To pass any nondiscrimination, coverage, or related test under Section 5 or any related Code or Regulation provision, a Plan Sponsor may use any definition of compensation other than 415 Compensation to determine who is an HCE to the extent permitted by applicable Code or Regulations provisions.

2.103 Highly Compensated Level. 415 Compensation equal to $120,000 in 2017, as indexed in other years in accordance with Code §414(q)(1). Instead of 415 Compensation, a Plan Sponsor may elect to use any other definition of compensation permitted under Regulations under Code §403(b) (or any other Code provisions or Regulations cited in such Regulations).

2.104 Highly Compensated ACP. The arithmetic average of the Actual Contribution Percentages of all HCEs who are Active Participants for a Plan Year or any portion of a Plan Year, including those whose Actual Contribution Percentage is zero.

2.105 Hour of Paid Service. Each Employee will be credited with an Hour of Paid Service for:

(a) General Rule. Except as provided in subsection (c) below, each hour for which such Employee is directly or indirectly paid or entitled to payment by a Plan Sponsor or Affiliate for the performance of duties. These hours will be credited to the Employee for the computation period (or periods) during which the duties are performed.

(b) Periods During which No Services Are Performed. Except as provided in subsection (c) below, each hour (not to exceed 501 hours for any single continuous period) for which an Employee is paid, or entitled to payment, by a Plan Sponsor or Affiliate on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including disability), layoff, jury duty, military duty, or leave of absence.

- 29 -

(c) Back Pay. Each hour for which back pay, irrespective of mitigation of damages, has been either awarded or agreed to by any Plan Sponsor or Affiliate. These hours will be credited to the Employee for the computation period (or periods) to which the award, agreement, or payment pertains rather than the computation period (or periods) during which the award, agreement, or payment was made.

2.106 Includible Compensation. For any Limitation Year, an Employee’s compensation (or Retired or Terminated Participant’s compensation as an Employee during the year of service described in subsection (b) below) as determined under Code §415(c)(3)(E), Code §403(b)(3), and Regulations thereunder:

(a) In the case of a Full-Time Employee who was paid for the entire Limitation Year, such compensation received by the Employee from his or her Salary-Paying Unit during a Limitation Year; and

(b) In the case of a Full-Time Employee who was not paid for the entire Limitation Year or a Part-Time Employee, such compensation received by the Employee from his or her Salary-Paying Unit(s) and any other entity that is controlled by or associated with The United Methodist Church (or otherwise satisfies Code §414(e)(3)(B)) during the most recent period that constitutes a year of service under Code §403(b)(4) and applicable Regulations.

Effective January 1, 2009, notwithstanding the definitions of Compensation and 415 Compensation, Includible Compensation, in accordance with Regulation §1.403(b)-2(b)(11), is computed without regard to Code §911. Includible Compensation does not include any compensation received during a period when the Plan Sponsor or Salary-Paying Unit was not an eligible employer within the meaning of Regulation §1.403(b)-2(b)(8). For the purpose of applying the limitations on Annual Additions to non-elective Plan Sponsor contributions pursuant to Code §415, Includible Compensation for a Participant who is permanently and totally disabled (as defined in Code §22(e)(3)) is the compensation such Participant would have received for the Limitation Year if the Participant had been paid at the rate of compensation paid to him or her immediately before he or she became permanently and totally disabled.

2.107 IRA. An individual retirement account or annuity qualified under Code §408 (other than an endowment contract).

2.108 IRS. The Internal Revenue Service, an agency of the U.S. Department of the Treasury.

2.109 Jurisdictional Conference. One of the organizational units of The United Methodist Church, as described in Section II of Chapter Four of Part VI of the Discipline.

2.110 Lay Employee. Any Employee who is not a Clergy Employee.

(a) An Employee who is a Clergyperson but who is not Under Episcopal Appointment to his or her Salary-Paying Unit, or who is Under Episcopal Appointment but is Retired by his or her Conference, is a Lay Employee of that Salary-Paying Unit for the purposes of this Plan. Notwithstanding the foregoing,

- 30 -

however, if such a Clergyperson is CPP Disabled and is permitted to make a partial return to clergy duties at the Salary-Paying Unit without a formal Appointment to the Salary-Paying Unit, such Clergyperson will be treated as a Clergy Employee of such Salary-Paying Unit to the extent participation in the Plan is permitted by the Administrator.

(b) This definition will not affect the fact that the IRS treats certain Clergypersons (generally, certain Deacons in Full Connection) as lay employees. Such Clergypersons and all Lay Employees may not be eligible for this Plan under Section 3.2(e) and Code §414(e) if they are employed by an entity that is not controlled by or associated with The United Methodist Church.

2.111 Leased Employee. Any person who, in accordance with an agreement between a Plan Sponsor or Agency Affiliate and any other person (“leasing organization”) has performed services for the Plan Sponsor or Agency Affiliate (or for the Plan Sponsor or Agency Affiliate, and (in either case) related persons determined in accordance with Code §414(n)(6)) on a substantially full-time basis for a period of at least one year, and such services are performed under the primary direction or control of the Plan Sponsor or Agency Affiliate. Contributions or benefits provided to a Leased Employee by the leasing organization that are attributable to services performed for the Plan Sponsor or Agency Affiliate will be treated as provided by the Plan Sponsor or Agency Affiliate.

A Leased Employee will not be considered an Employee of a Plan Sponsor or Agency Affiliate if the following requirements are met:

(a) Such employee is covered by a tax-qualified money purchase pension plan providing:

(i) a non-integrated employer contribution rate of at least 10% of compensation (as defined in Code §415(c)(3), but including amounts contributed by the employer under a salary-reduction agreement that are excludible from the employee’s gross income under Code §§125, 132(f), 402(e)(3), 402(h)(1)(B), or 403(b));

(ii) immediate participation; and

(iii) full and immediate vesting; and

(b) Leased Employees do not constitute more than 20% of all non-highly compensated (within the meaning of Code §414(q)) Employees (excluding the Leased Employees) of all Affiliates (including affiliates within the meaning of Code §144(a)(3)).

2.112 Leave of Absence. An Employee’s unpaid period of absence from performing his or her duties for a Plan Sponsor:

(a) In the case of a Clergy Employee:

- 31 -

(i) in accordance with ¶352 of the Discipline, relating to sabbatical leaves (when unpaid);

(ii) in accordance with ¶354 of the Discipline, relating to voluntary leaves of absence (including, effective January 1, 2008, a Transitional Leave, which will be treated as a leave from the last previous Plan Sponsor);

(iii) in accordance with ¶355 of the Discipline, relating to involuntary leaves of absence;

(iv) in accordance with ¶356 of the Discipline, relating to maternity or paternity leaves;

(v) because of a Medical Leave;

(vi) that is covered by USERRA (or applicable prior law); or

(vii) to which the Clergy Employee is entitled under the Family and Medical Leave Act of 1993 or any comparable applicable state law;

(b) In the case of a Bishop, in accordance with ¶410 of the Discipline, relating to leaves for Bishops; and

(c) In the case of a Lay Employee:

(i) in accordance with any Plan Sponsor leave policy relating to sabbatical leaves;

(ii) in accordance with any Plan Sponsor leave policy relating to leaves of absence;

(iii) in accordance with any Plan Sponsor leave policy relating to family leaves;

(iv) in accordance with any Plan Sponsor leave policy relating to maternity or paternity leaves;

(v) because of any Plan Sponsor leave policy relating to illness, injury, disability, or medical leaves;

(vi) that is covered by USERRA (or applicable prior law); or

(vii) to which the Employee is entitled under the Family and Medical Leave Act of 1993 or any comparable applicable state law;

provided, however, that the Employee returns to at least one Hour of Paid Service with, or Retires from, the Plan Sponsor or its Affiliate not later than:

- 32 -

(1) the first work day following the end of the leave as specified when his or her leave is approved, including any later adjustments thereto; or

(2) if applicable, within the period during which his or her re-employment rights are protected by law.

When an Employee does not timely Retire or return to at least one Hour of Paid Service, then no portion of the leave qualifies as a Leave of Absence. An Employee who is granted a Paid Leave will be treated as not on a Leave of Absence.

2.113 Life Expectancy. Life expectancy as computed by use of the single life table, uniform lifetime table, or joint and last survivor table in Regulation §1.401(a)(9)-9, Q&A-1, Q&A-2, or Q&A-3, respectively, as applicable under Regulation §1.401(a)(9)-5 and Section 8.4.

2.114 LifeStage Investment Management. An asset allocation and investment direction service that may be offered by the Administrator directly or through a contractor.

2.115 Lifetime Distribution Option. A form of distribution, such as an appropriate period of Cash Installment payments, that may be elected by a Beneficiary (other than a Beneficiary that is an estate, a trust, or another non-individual) that distributes a Participant’s entire interest in the Plan over the Life Expectancy of the Beneficiary.

2.116 Limitation Year. The twelve-month period used by the Plan for the purpose of applying the limitations of Code §415, which is the same as the Plan Year. For the purpose of determining Includible Compensation, service within a Limitation Year will be determined consistent with Regulation §1.403(b)-4(e).

2.117 Local Church. A United Methodist Church organization within the meaning of ¶201 of the Discipline.

2.118 Local Pastor. A person licensed in accordance with Section IV of Chapter Two of Part VI of the Discipline (¶¶315-320), including, but not limited to, a full-time local pastor, a part-time local pastor, and a student local pastor.

2.119 Look-Back Year. The 12-month period immediately preceding the Determination Year.

2.120 LTD Plan Disabled or LTD Plan Disability. Receiving disability benefits, or having been awarded disability benefits, under a long-term disability benefit plan (if any) provided by an Employee’s Plan Sponsor, as determined by the Administrator.

2.121 Matching Contribution. A type of Plan Sponsor Contribution to a Participant’s Account that is made in a predetermined Decimal Percentage (of at least 1.00%) elected by the Plan Sponsor in the Adoption Agreement. The Plan Sponsor’s contribution is determined by the amount of a Participant’s Participant Contributions. The Plan Sponsor contribution is made in any Decimal Percentage (of at least 1.00%) of the Participant’s Contribution up to a Decimal Percentage (of at least 1.00%) of the Participant’s Compensation, as elected in the Adoption Agreement. [Example: The Plan Sponsor might elect a Matching

- 33 -

Contribution of 33.33% of a Participant’s Contribution, up to 6.00% of the Participant’s Compensation.]

2.122 Matching Contribution Account. The Account established for an Accountholder on the books and records of the Plan for the purpose of recording any:

(a) Matching Contributions made pursuant to Section 4.1(a)(ii); and

(b) Matching Contribution-type transfers made pursuant to Section 4.7; and


2.123 Maximum ACP. To pass the ACP Test for a Determination Year, the maximum permissible Highly Compensated ACP for the Determination Year, based upon the Non-Highly Compensated ACP for the Look-Back Year in accordance with the following:

(a) If the Non-Highly Compensated ACP is 2% or less, the Maximum ACP is the Non-Highly Compensated ACP multiplied by 2;

(b) If the Non-Highly Compensated ACP is greater than 2% but less than 8%, the Maximum ACP is the Non-Highly Compensated ACP plus 2 percentage points; and

(c) If the Non-Highly Compensated ACP is 8% or more, the Maximum ACP is the Non-Highly Compensated ACP multiplied by 1.25.

A Plan Sponsor may elect, in accordance with Regulations, to use the Determination Year instead of the Look-Back Year to determine the Non-Highly Compensated ACP. To determine the Maximum ACP for the first Determination Year that it is a Plan Sponsor, a new Plan Sponsor may elect:

(1) to use an imputed Non-Highly Compensated ACP of 3%; or

(2) to compute the Non-Highly Compensated ACP using the Determination Year.

2.124 Medical Leave. A Conference relationship specified in ¶357 of the Discipline applicable to Clergypersons. A Clergyperson must be placed on Medical Leave by his or her Conference, and not by a Plan Sponsor that is not a Conference. In the case of Bishops, Medical Leave is known as incapacity leave in the Discipline and is granted in accordance with ¶¶407 and 410.4 of the Discipline. Before January 1, 2013, Medical Leave was known as incapacity leave for all clergy.

2.125 Missionary Conference. A special purpose conference of The United Methodist Church similar to an Annual Conference, as further described in Section VII of Chapter Four of Part VI of the Discipline.

2.126 MPP. The Ministerial Pension Plan.

- 34 -

2.127 Month of Service. A calendar month during which an Employee or Participant receives credit for:

(a) eligibility in accordance with Section 3.1; or

(b) Vesting in accordance with Section 7.4.

2.128 Non-HCE. Each Employee who for any Plan Year is not an HCE.

2.129 Non-Highly Compensated ACP. The arithmetic average of the Actual Contribution Percentages of all Non-HCEs who are Active Participants for a Plan Year (or any portion of a Plan Year), including those whose Actual Contribution Percentage is zero, but, to the extent that Code §401(m)(5)(C) applies, excluding those who have not met the minimum age and service requirements of Code §410(a)(1)(A).

2.130 Non-Matching Contribution. A type of Plan Sponsor Contribution to a Participant’s Account that is made in the amount of a predetermined Decimal Percentage (of at least 1.00%) of the Participant’s Compensation, whether or not a Participant makes a Participant Contribution to the Plan. The Plan Sponsor elects in its Adoption Agreement the predetermined Decimal Percentage (of at least 1.00%) of Participant Compensation that will constitute its Plan Sponsor Contribution to each Participant’s Account for each Contribution Period.

2.131 Non-Matching Contribution Account. The Account established for an Accountholder on the books and records of the Plan for the purpose of recording any:

(a) Non-Matching Contributions made pursuant to Section 4.1(a)(i); and

(b) Non-Matching Contribution-type transfers made pursuant to Sections 4.7 and 4.8;


2.132 Non-QCCO. Any Plan Sponsor, Agency Affiliate, or Salary-Paying Unit that:

(a) is not a Local Church, not an organization under Code §3121(w)(3)(A), and not a QCCO; and

(b) is deemed to be the employer or entity sponsoring the Plan for the purpose of qualifying under any nondiscrimination requirements under Section 5 or Code §403(b)(12).

2.133 Normal Retirement Date. The first day of the month coinciding with or next following the earlier of:

(a) the Participant’s 65th birthday; or

(b) the date on which the Participant who is:

- 35 -

(i) a Clergyperson attains 40 years of service under ¶358.2c) of the Discipline;

(ii) a Lay Employee of a General Agency attains 40 years of service under ¶715.3 of the Discipline; or

(iii) a Lay Employee of a Plan Sponsor other than a General Agency qualifies under any normal retirement policy it may have that applies to this Plan.

2.134 Notice. Any means of officially conveying Plan-related information to an Employee, an Accountholder, a Participant, a Beneficiary, the Administrator, a Salary-Paying Unit, a Plan Sponsor, or any other entity related to the Plan, including, but not limited to, the following:

(a) A paper communication;

(b) An internet or extranet communication;

(c) An e-mail or other electronic communication;

(d) An interactive voice response recorded statement; and

(e) An oral communication that is recorded and, when reasonably required, otherwise verifiable as to the originator of the communication;

provided that any such communication complies with any applicable laws, Regulations, or other governmental rules. When proof that a communication has been delivered is needed, the method of communication must be susceptible of reasonable proof, such as the fact that such communication was issued in the normal course of business. When a communication would reasonably be acceptable only if signed, notarized, or otherwise authenticated, it must be signed, notarized, or otherwise authenticated. An unrecorded oral communication will not qualify as a Notice unless the Administrator has established a rule allowing such an oral communication to qualify a Notice.

2.135 One-Year Break in Service. A 12-consecutive-month Break in Service. The One-Year Break in Service starts on the first of the month following the month in which Service was last credited and ends at the end of the 12th calendar month thereafter.

2.136 Paid Leave. Any leave from regular employment granted to an Employee by a Plan Sponsor or Salary-Paying Unit during which, and continuing for so long as, substantial and regular Compensation is paid to such Employee from whatever source with respect to such leave. Examples include (but are not limited to):

(a) paid sick leave;

(b) Medical Leave coupled with CPP Disability benefits (but not including cases where the Employee has incurred a Termination of Conference Relationship);

- 36 -

(c) sick or medical leave coupled with LTD Plan Disability benefits (but not including cases where the Employee has incurred a Termination of Employment);

(d) paid vacation; and

(e) paid sabbatical leaves in accordance with ¶352 of the Discipline.

2.137 Participant. An Employee who has become a participating Employee as provided in Sections 3.2 and 3.3, including, effective January 1, 2007, such an Employee who has incurred a Break in Service but who has not become a Terminated Participant.

2.138 Participant Contribution Account. Any Account holding Participant Contributions and any Debit or Credit adjustments thereto.

2.139 Participant Contributions. Contributions to the Plan by a Plan Sponsor in accordance with a Participant’s Salary-Reduction Agreement or Automatic Enrollment, or by the Participant directly, such as in the case of QVECs, or rollovers or transfers from other plans to the Plan (or from one Sponsor Account Balance to another within the Plan), that are any of the following types:

(a) Before-Tax Contributions (including Catch-Up Contributions);

(b) After-Tax Contributions;

(c) Roth Contributions (including Catch-Up Contributions);

(d) QVECs (except that no new QVECs may be made under this Plan); and/or

(e) any other Contributions, rollovers, or transfers permitted to be made by:

(i) a Participant (including rollovers to his or her Rollover Account, whether before-tax, after-tax, or (if this Plan accepts them) Roth contributions);

(ii) a Plan Sponsor or Salary-Paying Unit at the election of a Participant or transferred without the Participant’s election; or

(iii) an Employee who will become a Participant.

2.140 Part-Time. In the case of an Employee, regularly employed by a Plan Sponsor and rendering or expected to render fewer than:

(a) 1,000 Hours of Paid Service per year; or

(b) 1,040 Hours of Paid Service per year

as elected by the Plan Sponsor on its Adoption Agreement (when applicable).

2.141 Pastoral Charge. One or more Local Churches within the meaning of ¶205 of the Discipline.

- 37 -

2.142 Permanent. Employed for the indefinite future and not on a temporary, limited purpose, or seasonal basis. Being an employee at will does not change the permanence of a person’s employment.

2.143 Permanently Disabled. Disabled within the meaning of Code §§403(b)(11)(A) and 72(m)(7), namely, unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or to be of long-continued and indefinite duration and that can be demonstrated in such form and manner as Regulations under Code §72(m)(7) may require.

2.144 PIP. The Personal Investment Plan, a predecessor to the Plan incorporated in Supplement Two.

2.145 PIP Participant. A participant in PIP or its predecessor plans before January 1, 2006.

2.146 Plan. This United Methodist Personal Investment Plan (also referred to as “UMPIP”), i.e., the aggregate of the Unsupplemented Plan along with Supplements One through Four, as further described in Section 1.3, as it may be amended from time to time.

2.147 Plan Sponsor. An entity specified in Section 1.8 that has executed, or is deemed to have executed, an Adoption Agreement with respect to those of its Employees, or the Employees of a related Salary-Paying Unit, who are:

(a) permitted to be covered under Section 1.8 as to:

(i) date of coverage; and

(ii) type of Contribution; and

(b) specified by type or class of Employee in the Adoption Agreement.

2.148 Plan Sponsor Contribution Account. Any Account holding Plan Sponsor Contributions and any Debit or Credit adjustments thereto.

2.149 Plan Sponsor Contribution. A Contribution to a Participant’s Account by a Plan Sponsor, or transfer to the Participant’s Account, of any of the following kinds:

(a) Non-Matching Contribution;

(b) Conditional Contribution;

(c) Matching Contribution;

(d) QNEC; or

(e) Discretionary Contribution.

2.150 Plan Year. The calendar year.

- 38 -

2.151 Provisional Member. A person elected to provisional membership in an Annual Conference within the meaning of ¶324 of the Discipline.

2.152 QCCO. A qualified church-controlled organization within the meaning of Code §3121(w)(3)(B) and Regulations thereunder.

2.153 QDRO. A qualified domestic relations order in accordance with Code §414(p), approved by the Administrator in accordance with Section 10.12.

2.154 QNEC. A qualified non-elective contribution made by a Plan Sponsor in a Determination Year to the Account of a Non-HCE in accordance with Section 5.4 for the purpose of passing the ACP Test for such Determination Year that meets the following conditions:

(a) Such contribution is 100% Vested;

(b) Such contribution is a Plan Sponsor Contribution; and

(c) Such contribution may not be distributed to such Non-HCE except in accordance with:

(i) the rules of this Plan relating to distributions of Plan Sponsor Contributions; and

(ii) the conditions enumerated in Code §§401(k)(2)(B) and (C).

2.155 QNEC Account. The Account established for an Accountholder on the books and records of the Plan for the purpose of recording any:

(a) QNECs made pursuant to Section 5.4; and

(b) QNEC-type transfers made pursuant to Sections 4.7 and 4.8;


2.156 QVEC. A qualified voluntary employee contribution made under PIP or its predecessor plans in accordance with Code §219(e)(2) as it existed before the enactment of the Tax Reform Act of 1986. Such contributions are no longer legally permitted, but formerly allowed a PIP Participant to make before-tax contributions directly (not by salary reduction) to PIP from income already paid to the PIP Participant.

2.157 QVEC Account. The Account established for an Accountholder on the books and records of the Plan for the purpose of recording any:

(a) QVECs made under PIP or its predecessor plans; and

(b) QVEC-type transfers made pursuant to Section 4.7;


- 39 -

2.158 Reemployed. Becoming an Employee of a Plan Sponsor after having first Retired or incurred a Termination of Conference Relationship or a Termination of Employment with respect to such Plan Sponsor.

2.159 Regulation. Any applicable regulation, including proposed and temporary regulations, issued by the Department of the Treasury or Internal Revenue Service that is codified at Title 26 of the Code of Federal Regulations. Where a reference is made to temporary or proposed regulations, such reference will include any permanent regulations, modified proposed regulations, or temporary regulations issued in lieu thereof.

2.160 Relinquish. The act of an Accountholder to permanently renounce a benefit so that it does not pass to a Beneficiary or successor. Relinquished benefits are forfeited under Section 7.5(c).

2.161 Remitter. A Plan Sponsor, Salary-Paying Unit, or other entity that actually remits Participant Contributions and/or Plan Sponsor Contributions to the Administrator. A Remitter may be required to execute a Service Agreement with the Administrator. The Plan Sponsor is the Remitter for Contributions covered by the Plan Sponsor’s Adoption Agreement except to the extent that some other entity executes, or is deemed to have executed, a Service Agreement with respect to such Contributions. Whether or not it executes, or is deemed to have executed, an Adoption Agreement, the Remitter is bound by the terms of the Service Agreement that it executes, or is deemed to have executed. When approved by the Administrator, a Participant may remit After-Tax Contributions into his or her Account by means of a personal check (or other electronic or equivalent means) and is a Remitter for that purpose.

2.162 Representative Contribution Rate. With respect to a Non-QCCO, the greater of:

(a) the lowest Contribution Rate of any eligible Non-HCE among any group of Non-HCEs that comprises half of all eligible Non-HCEs of the Non-QCCO; or

(b) the lowest Contribution Rate of any eligible Non-HCE from the group of all eligible Non-HCEs who were employed by the Non-QCCO on the last day of the Plan Year.

2.163 Required Beginning Date. Subject to Code §401(a)(9), in the case of a:

(a) Participant or Terminated Participant, April 1 of the calendar year following the later of:

(i) the calendar year in which a Participant Retires, or

(A) effective January 1, 2007, in the case of a Lay Employee, incurs a Termination of Employment with one or more Plan Sponsors, such that his or her Required Beginning Date will be determined separately for each such Plan Sponsor and each Sponsor Account Balance; or

- 40 -

(B) in the case of a Clergy Employee, incurs both a Termination of Employment with all Plan Sponsors as a Clergy Employee and a Termination of Conference Relationship; or

(ii) the calendar year in which the Participant or Terminated Participant attains the age of 70½.

Notwithstanding the foregoing, if a Participant’s or Terminated Participant’s Required Beginning Date is determined with respect to what would have been Distribution Calendar Year 2009, such Participant’s or Terminated Participant’s Required Beginning Date is deferred by one year.

(b) Beneficiary who is not the Participant’s or Terminated Participant’s surviving Spouse, December 31 of:

(i) the calendar year following the calendar year of the Participant’s or Terminated Participant’s death, if benefits are payable over the remaining life or life expectancy of such Beneficiary; or otherwise

(ii) the calendar year containing the fifth anniversary (not including Distribution Calendar Year 2009) of the Participant’s or Terminated Participant’s death.

(c) Beneficiary who is the Participant’s or Terminated Participant’s surviving Spouse:

(i) if benefits are payable over the remaining life or life expectancy of such surviving Spouse, then by December 31 of the later of:

(A) the calendar year immediately following the calendar year in which the Participant or Terminated Participant died; or

(B) the calendar year in which the Participant or Terminated Participant would have attained age 70½; or otherwise

(ii) December 31 of the calendar year containing the fifth anniversary (not including Distribution Calendar Year 2009) of the Participant’s or Terminated Participant’s death.

2.164 Retire or Retirement. In the case of:

(a) a Clergyperson, either:

(i) being placed in the retired relation in accordance with ¶358 of the Discipline; or

(ii) incurring, on or after his or her Early Retirement Date, a Termination of Employment with his or her Plan Sponsor and either:

- 41 -

(A) a Termination of Conference Relationship; or

(B) a Five-Year No Record of Appointment;

(b) a Bishop, retired in accordance with ¶408 of the Discipline; or

(c) a Lay Employee, the earliest of:

(i) the date such Lay Employee incurs a Termination of Employment on or after his or her Early Retirement Date with his or her Plan Sponsor;

(ii) in the case of an LTD Plan Disabled Lay Employee, the date on or after his or her Early Retirement Date that he or she elects to take a distribution of any of his or her Sponsor Account Balance pertaining to the Plan Sponsor sponsoring the long-term disability plan under which he or she is LTD Plan Disabled; or

(iii) in the case of a Lay Employee on an approved Leave of Absence from a Plan Sponsor who does not return to work at the scheduled end of the Leave of Absence, the date the Leave of Absence was scheduled to end if such date is on or after his or her Early Retirement Date with such Plan Sponsor.

2.165 Rollover Account. The Account established for an Accountholder on the books and records of the Plan for the purpose of recording any funds rolled over to the Plan from or attributable to another qualified plan or IRA pursuant to Section 4.6, or pursuant to the provisions of PIP, adjusted for any applicable Debits or Credits attributable to such funds. Each Accountholder’s Rollover Account may include sub-Accounts for various kinds of Contributions, such as After-Tax Contributions, Before-Tax Contributions, Roth Contributions, and Plan Sponsor (or other employer) Contributions. Alternately, the Administrator may establish more than one separate Rollover Accounts for these various kinds of Contributions, each such Account being treated as a Rollover Account.

2.166 Roth Contributions. Participant Contributions made by the Plan Sponsor to the Plan in accordance with an election by a Participant to contribute a portion of his or her Compensation into the Plan under Code §402A after receipt of the Compensation for taxability purposes, which contribution may earn tax-free earnings, gains, or interest if the applicable provisions of Code §402A are complied with.

2.167 Roth Contribution Account. The Account established for an Accountholder on the books and records of the Plan for the purpose of recording any:

(a) Roth Contributions made pursuant to Section 4.2(a)(i)(C);

(b) Roth rollovers made pursuant to Section 4.6;

(c) Roth transfers made pursuant to Section 4.7; and

- 42 -

(d) Roth Conversions made pursuant to Section 4.8;

adjusted for any applicable Debits or Credits attributable to such Contributions, rollovers, transfers or conversions. The Administrator will maintain a record of the Participant’s investment in the contract, i.e., the original Roth Contributions, unadjusted for Debits or Credits, that have not yet been distributed.

2.168 Roth Conversion. A Roth Conversion, also referred to as an in-plan rollover, is the conversion of the balance in an Account other than a Roth Contribution Account to the Roth Contribution Account. Such a Roth Conversion is not a Contribution, and therefore is not subject to any limits on Contributions set forth in Section 5. A Roth Conversion is subject to Code §402A(c)(4) and may be accomplished pursuant to Section 4.8.

2.169 Roth Qualified Distribution. A non-taxable distribution from a Roth Contribution Account. Distributions from a Roth Contribution Account will be taxable to the Participant in accordance with Code §402A and Regulations issued thereunder. To be a Roth Qualified Distribution, a distribution from a Roth Contribution Account generally must be distributed on or after the later of:

(a) a day that is at least five years following the earlier of:

(i) the first of the year in which the first Roth Contribution or Roth Conversion was made to a Participant’s Roth Contribution Account; or

(ii) when a Roth Contribution has been rolled into the Plan, the first of the year in which the first Roth contribution was made to the predecessor Roth account from which such Roth Contribution was rolled into this Plan; or

(b) the earliest date specified in Code §408A(d)(2)(A).

2.170 Salary-Paying Unit. One of the following entities that, in the case of subsections (a) through (f) below, is controlled by or associated with The United Methodist Church:

(a) the General Conference;

(b) a Jurisdictional Conference;

(c) a Conference;

(d) a General Conference or Conference board, agency, commission, or other subunit;

(e) a Local Church or Pastoral Charge located in a Conference;

(f) any other organization, including a self-employed Clergyperson Under Episcopal Appointment, located in a Jurisdictional Conference that is eligible to participate in a Church Plan in accordance with applicable federal law; or

- 43 -

(g) any other entity to which a Clergyperson Under Episcopal Appointment is appointed (but only with respect to such Clergyperson); and

that pays a salary or other Compensation to an Employee or a Participant.

2.171 Salary-Reduction Agreement. An agreement between a Participant and a Plan Sponsor that specifies an amount or percentage of the Participant’s Compensation that will be withheld from the Participant’s earnings by the Plan Sponsor (or his or her Salary-Paying Unit) and contributed by the Plan Sponsor (or Salary-Paying Unit) to the Plan on behalf of the Participant as a Participant Contribution, which may be Before-Tax Contributions, After-Tax Contributions, or Roth Contributions, as elected by the Participant.

2.172 Section. Any article, section, subsection, paragraph, subparagraph, clause, or other portion of this Plan.

2.173 Service. A period of time measured in months during which an Employee earns credit towards the following:

(a) 15-Year Catch-Up Service;

(b) Eligibility Service (see Section 3.1); or

(c) Vesting Service (see Section 7.4).

The same period of time may qualify for more than one kind of Service. Specific rules relating to the computation of each kind of Service are noted in the cited Sections and/or the definition for each term.

2.174 Service Agreement. An agreement between a Remitter and the Administrator pursuant to which the Remitter agrees to:

(a) timely remit Contributions to the Administrator with respect to one or more Participants under the Plan; and

(b) elect the mechanism and timing for the transmission of Contributions and data to the Administrator.

A Service Agreement may have such other provisions as may be required by the Administrator and, effective January 1, 2007, may be incorporated within an Adoption Agreement.

2.175 Simplified Rule. A means of pro rata distribution of After-Tax Contributions, Before-Tax Contributions, and Debits or Credits applicable thereto, specified in Regulations issued under Code §72.

2.176 Sponsor Account Balance. The aggregate of:

(a) an Accountholder’s:

- 44 -

(i) Plan Sponsor Contributions, as adjusted by Credits and Debits; but

(ii) when the Accountholder is to receive a distribution, then only such Accountholder’s Vested Plan Sponsor Contributions, as adjusted by Credits and Debits; and

(b) an Accountholder’s Participant Contributions, as adjusted by Credits and Debits,

that were contributed with respect to the time the Accountholder (or his or her predecessor Participant) was covered under a given Plan Sponsor’s Adoption Agreement. For example, if a Participant has rendered Service to three different Plan Sponsors under three different Adoption Agreements, his or her Account Balance may have up to three Sponsor Account Balances that each include Plan Sponsor Contributions and/or Participant Contributions relating to each Plan Sponsor. In accordance with rules established by the Administrator, an Accountholder’s Final PIP Account Balance and Final CPBF Account Balance may be attributed to his or her Sponsor Account Balance for his or her Plan Sponsor on the Effective Date (or otherwise attributed) if historical information on PIP and CPBF plan sponsors is not readily accessable.

2.177 Spouse. The husband or wife or surviving husband or wife of an Accountholder who is legally married to such Accountholder, or was so legally married on the date of the Accountholder’s death, under the laws of the jurisdiction where the Accountholder resides or resided. Notwithstanding the foregoing, the term “Spouse” does not include common law spouses, even in states that recognize common law marriage.

2.178 Supplement. Supplement One, Supplement Two, Supplement Three, or any other supplement to this Plan.

2.179 Supplement One. The frozen remainder of CPBF, which has been preserved as Supplement One to the Plan, plus related provisions.

2.180 Supplement Two. The frozen remainder of PIP, which has been preserved as Supplement Two to the Plan, plus related provisions.

2.181 Supplement Three. Coverage under the Plan for central conference bishops.

2.182 Terminated Participant. A person who has been a Participant under the Plan as sponsored by a Plan Sponsor, but who:

(a) in the case of a Lay Employee, has incurred a Termination of Employment with such Plan Sponsor; or

(b) in the case of a Clergy Employee, has incurred both:

(i) a Termination of Employment with such Plan Sponsor; and

(ii) either:

- 45 -

(A) a Five-Year No Record of Appointment (before his or her Early Retirement Date); or

(B) a Termination of Conference Relationship

effective January 1, 2007, for reasons other than Retirement.

2.183 Termination of Conference Relationship.

(a) A Clergyperson:

(1) ceasing to be an Active Conference Member of all Conferences (that is, not just transferring from one to another); or

(2) otherwise severing his or her relationship with his or her Conference (in the case where the Clergyperson was not initially a Conference Member, as in the case of some members of other denominations or student local pastors)

for reasons other than Retirement, including cessation or severance by reason of:

(i) being honorably located within the meaning of ¶359 of the Discipline;

(ii) being administratively located within the meaning of ¶360 of the Discipline;

(iii) his or her withdrawal within the meaning of ¶361 of the Discipline;

(iv) the surrender of his or her ministerial credentials (aka, withdrawal under complaints or charges) within the meaning of ¶2719.2 of the Discipline;

(v) the surrender of his or her Local Pastor’s license (aka, discontinuance of local pastor) within the meaning of ¶320.1 of the Discipline;

(vi) termination of Conference membership or revocation of credentials of ordination or consecration under ¶2711.3 of the Discipline after a trial; or

(vii) death.

(b) A Bishop’s withdrawal from The United Methodist Church or his or her Jurisdictional Conference under ¶2719.2 of the Discipline. A Bishop’s:

(i) resignation from the episcopacy under ¶408.4 of the Discipline; or

(ii) removal from the episcopacy under ¶2712.6 of the Discipline

will not be a Termination of Conference Relationship unless such Bishop simultaneously incurs a Termination of Conference Relationship in accordance with subsection (a) above.

- 46 -

2.184 Termination of Employment.

(a) General Rule. An Employee will be deemed to have incurred a Termination of Employment with a Salary-Paying Unit or Plan Sponsor as a result of:

(i) his or her resignation or dismissal for any reason (whether or not it qualifies as a Retirement);

(ii) the end of a Clergy Employee’s Appointment that results in the Employee’s severance from employment as both a Clergy Employee and as a Lay Employee;

(iii) his or her death;

(iv) the end of a Paid Leave that is not immediately followed by:

(A) a return to regular paid employment with such Salary-Paying Unit or Plan Sponsor;

(B) a Leave of Absence from such Salary-Paying Unit or Plan Sponsor; or

(C) Retirement from such Salary-Paying Unit or Plan Sponsor;

(v) his or her failure to return to work promptly upon the request of such Salary-Paying Unit or Plan Sponsor at the end of a layoff;

(vi) his or her failure to return to work within the period required under USERRA or any other law pertaining to veterans’ reemployment rights after having started an authorized Leave of Absence for military duty with the armed forces of the United States as defined under such law;

(vii) his or her failure to Retire or return to work at the end of a Leave of Absence; or

(viii) his or her transfer from such Salary-Paying Unit or Plan Sponsor to another Salary-Paying Unit or Plan Sponsor;

provided that such Retirement, resignation, dismissal, end of Appointment, death, end of Paid Leave, failure to return, failure to Retire, or transfer involves a severance from paid employment with such Salary-Paying Unit or Plan Sponsor. A change in status from an Employee in the common law sense to a Leased Employee is not a Termination of Employment. Effective January 1, 2009, this Section will be interpreted consistently with Regulation §1.403(b)-6(h).

(b) Failure to Return after Layoff or Leave. If a Termination of Employment occurs within the meaning of paragraphs (a)(v)-(vii) above, such termination will be deemed to have occurred on the first day of the layoff or Leave of Absence for

- 47 -

which the Employee was not credited with an Hour of Paid Service for such Salary-Paying Unit or Plan Sponsor. An Employee who timely returns to work with, or Retires from, such Salary-Paying Unit or Plan Sponsor at the end of the layoff or Leave of Absence will not have incurred a Termination of Employment with such Salary-Paying Unit or Plan Sponsor by reason of such layoff or Leave of Absence.

(c) Bishops. In the case of a Bishop:

(i) the Retirement of the Bishop will be treated as a Termination of Employment with GCFA, notwithstanding any such Retired Bishop’s continuing duties under ¶409 of the Discipline; and

(ii) the Bishop’s:

(A) resignation from the episcopacy under ¶408.4 of the Discipline;

(B) removal from the episcopacy under ¶2712.6 of the Discipline; or

(C) withdrawal from The United Methodist Church or his or her Jurisdictional Conference under ¶2719.2 of the Discipline

will be treated as a Termination of Employment with GCFA as a Bishop.

2.185 Top-Paid Group. For any Plan Year, the group consisting of the top 20% of Employees of the Plan Sponsor (including any Employees of an Agency Affiliate included in the Plan Sponsor’s Adoption Agreement) when ranked on the basis of 415 Compensation (or any other permissible definition of compensation acceptable under the Regulations for an ACP Test) paid during such Plan Year. For the purpose of establishing the total number of Employees in the previous sentence, the following Employees will be excluded:

(a) Employees who normally work fewer than 17½ Hours of Paid Service per week;

(b) Employees who have not completed six Months of Service;

(c) Employees who normally work during not more than six months during any Plan Year;

(d) Employees who have not attained the age of 21; and

(e) Employees covered by a collective bargaining agreement if such Employees constitute 90% or more of the total number of Employees.

2.186 Transitional Leave. A status for certain Clergypersons who are in-between Appointments within the meaning of ¶354.2c) of the Discipline.

2.187 Trust. The trust or trusts, including the Pension Trust of The United Methodist Church, established to fund benefits provided under the Plan, as provided in Section 1.5. The term

- 48 -

“Trust” will also include, as applicable, any insurance contract purchased to fund benefits under the Plan.

2.188 Trust Agreement. The agreement or agreements between the Administrator and the Trustee pursuant to which the Trust is established.

2.189 Trustee. The UMC Benefit Board, Inc., an Illinois not-for-profit corporation, or any successor.

2.190 Under Episcopal Appointment. The condition of a Clergyperson who has been appointed by a Bishop to a ministry pursuant to ¶¶425 through 430, Section VIII of Chapter Three of Part VI of the Discipline.

2.191 Unsupplemented Plan. The portion of the Plan without the Supplements.

2.192 USERRA. The Uniformed Services Employment and Re-employment Rights Act of 1994, including pension benefits provided in accordance with Code §414(u). Effective January 1, 2009, references to “USERRA” include the Heroes Earnings Assistance and Relief Tax Act of 2008 (the “HEART Act”) and service persons covered thereby, including recognition of contributions and benefits due under USERRA to Participants who are treated as though they returned to work on the day before military-related death or disability, as provided under the HEART Act.

2.193 Valuation Account Balance. Effective January 1, 2007, the Vested Sponsor Account Balance as of the last Accounting Date in the Valuation Calendar Year, increased by the amount of any Contributions made and allocated or Forfeitures allocated to the Vested Account Balance as of dates in the Valuation Calendar Year after such Accounting Date (if any) and decreased by any distributions made in the Valuation Calendar Year after such Accounting Date. The Valuation Account Balance for the Valuation Calendar Year includes any amounts rolled over or transferred to the Plan, either in the Valuation Calendar Year or in the Distribution Calendar Year if distributed or transferred in the Valuation Calendar Year.

2.194 Valuation Calendar Year. The calendar year immediately preceding the Distribution Calendar Year.

2.195 Vested. The nonforfeitable portion of any Account or benefit, except as provided in Section 7.5.

2.196 Vesting. Of or related to a Vested Account or benefit, except as provided in Section 7.5.

2.197 Vesting Service. As further described in Section 7.4, Service rendered by an Employee of a Plan Sponsor that can convert a Forfeitable Account Balance arising from that Plan Sponsor’s Plan Sponsor Contributions into a nonforfeitable, Vested Account Balance.

- 49 -

SECTION 3 - PARTICIPATION

3.1 Eligibility Service. The following provisions relating to Eligibility Service apply only to Plan Sponsor Contributions (not Participant Contributions):

(a) Eligibility Service. Subject to any provisions of Section 3.2, a Plan Sponsor may require its Employees to render from 0 to 12 Months of Service (as specified in its Adoption Agreement) for that Plan Sponsor before becoming a Participant eligible to receive Plan Sponsor Contributions, except that a Plan Sponsor that is a Conference, a Conference-Responsible Unit, a Conference-Elective Entity, or a Local Church may not require Eligibility Service of a Clergy Employee.

(b) Computation of Eligibility Service.

(i) Computation Period. An Employee’s Eligibility Service for a Plan Sponsor will be determined as described in paragraph (b)(ii) below with one-month computation periods beginning on:

(A) the first day of the month in which the Employee begins to perform Service for such Plan Sponsor (even if such day is before the Effective Date);

(B) the first day of each calendar month thereafter until the Employee incurs a Break in Service related to such Plan Sponsor; and

(C) the first day of each calendar month after a Break in Service has ended on or after which the Employee renders at least one Hour of Paid Service for such Plan Sponsor.

(ii) Determination of Eligibility Service. Subject to paragraph (b)(iii) below, an Employee will receive one month of Eligibility Service for each monthly computation period specified in paragraph (b)(i) above during which he or she either:

(A) is scheduled (or expected):

(I) to work at least one Hour of Paid Service for his or her Plan Sponsor; or

(II) to be on a Leave of Absence from his or her Plan Sponsor, provided that he or she had:

(1) at least one Hour of Paid Service before the Leave of Absence; and

(2) at least one Hour of Paid Service after such Leave of Absence or Retired from the Leave of Absence; or

- 50 -

(B) actually:

(I) does work at least one Hour of Paid Service for his or her Plan Sponsor; or

(II) is on a Leave of Absence from his or her Plan Sponsor, provided that he or she had:

(1) at least one Hour of Paid Service before the Leave of Absence; and

(2) at least one Hour of Paid Service after such Leave of Absence or Retired from the Leave of Absence.

Employees who are scheduled (as of the start of a one month computation period) to work for that month will earn Eligibility Service credit even if they do not actually work during the scheduled month.

(iii) Break in Service. An Employee’s Eligibility Service with a Plan Sponsor must be rendered consecutively. All Eligibility Service for a Plan Sponsor will be deemed to be consecutive so long as such Employee has not incurred a One-Year Break in Service with such Plan Sponsor. If an Employee incurs a Break in Service with such Plan Sponsor that is less than a One-Year Break in Service, such Employee will not earn Eligibility Service for the period of the Break in Service, but such Break in Service will not interrupt the consecutiveness of Eligibility Service rendered for such Plan Sponsor before and after such Break in Service.

(iv) Change of Status. If an Employee transfers from being a Clergy Employee to being a Lay Employee (or vice versa), he or she will receive Eligibility Service credit for periods spent in both statuses if Eligibility Service is needed for such Employee. But only Service rendered for a Plan Sponsor will count with respect to that Plan Sponsor’s Plan Sponsor Contributions.

(v) Service with Prior Employer. Notwithstanding anything in the Plan to the contrary, a Plan Sponsor may elect on its Adoption Agreement to treat periods of prior employment with an entity acquired by the Plan Sponsor as counting towards Employees’ Eligibility Service in (i) above.

3.2 Eligibility for Participation. Each Employee, other than a Leased Employee, will become a Participant:

(a) Participant Contributions. In the case of Participant Contributions made on behalf of an Employee, on the date (which will also be the Entry Date) that the Plan Sponsor (or Salary-Paying Unit acting on behalf of the Plan Sponsor) is first able to withhold Participant Contributions from the Employee’s Compensation on or after the date that:

- 51 -

(i) Salary-Reduction Agreement. He or she executes, and files with the Plan Sponsor (or Salary-Paying Unit acting on behalf of the Plan Sponsor), a Salary-Reduction Agreement; or

(ii) Automatic Enrollment. He or she is automatically enrolled, in the case of a Plan Sponsor who elects Automatic Enrollment on its Adoption Agreement (to the extent permitted by applicable law);

and will continue to remain eligible to receive such Contributions so long as:

(1) he or she has Compensation or income from CPP or a short-term or long-term disability benefit plan provided by an Employee’s Plan Sponsor or Salary-Paying Unit; and

(2) his or her Salary-Reduction Agreement or Automatic Enrollment remains in effect with his or her Plan Sponsor or, for a Participant who has been approved by the Administrator to make After-Tax Contributions via personal check pursuant to Section 4.2(a), such Participant has executed an agreement with the Administrator, in a form determined by the Administrator, that sets forth the terms of such Contributions, and such agreement remains in effect.

Notwithstanding the foregoing provisions of this Section, effective January 1, 2007, a Clergyperson Participant will not be eligible for Participant Contributions to be made on his or her behalf under the following circumstances:

(I) such Participant’s Conference Plan Sponsor declares such Participant ineligible in accordance with rules, standards, and procedures adopted by the Administrator;

(II) when such Participant’s Salary-Paying Unit is not remitting and has not timely remitted Participant Contributions to the Administrator for such Participant (thereby causing the Conference Plan Sponsor to be liable for remitting such Participant Contributions under Section 4.4); and

(III) until such time as such Participant’s Conference Plan Sponsor declares such Participant to again be eligible in accordance with rules, standards, and procedures adopted by the Administrator after receiving assurances from such Participant’s Salary-Paying Unit that such Salary-Paying Unit will henceforth timely remit such Participant’s Participant Contributions.

A Plan Sponsor may impose and remove such ineligibility more than once in accordance with rules, standards, and procedures adopted by the Administrator. For any periods during which a Clergyperson Participant is ineligible under such a Conference Plan Sponsor declaration, missed Participant Contributions will not later be made up or contributed to the Plan.

- 52 -

Notwithstanding the foregoing provisions of this Section, a Plan Sponsor may declare an Employee or a class of Employees (including Clergy Employees, Lay Employees, or both) to be ineligible to make Before-Tax and After-Tax Contributions (and, if they are permitted under the Plan, Roth Contributions) if:

(A) effective January 1, 2009, such Employee or class of Employees is eligible to make salary reduction contributions under another plan sponsored by the Plan Sponsor; or

(B) effective July 1, 2012, such Employee or class of Employees is listed on such Plan Sponsor’s Adoption Agreement as being ineligible to make such Participant Contributions, provided that such Adoption Agreement listing is approved by the Administrator in its sole discretion and that such listing complies with the rules of the Administrator and applicable Code provisions (and Regulations thereunder).

(b) Lay Employee and Extension Ministry Clergy Plan Sponsor Contributions. In the case of Plan Sponsor Contributions to a Clergy Employee who is not described in subsections (c) or (d) or to a Lay Employee, on the Entry Date determined under Section 3.3, provided that he or she satisfies all of the following requirements on the Entry Date and, except where otherwise indicated, continuously thereafter:

(i) He or she meets one of the following minimum age conditions, whichever is elected by the Plan Sponsor on its Adoption Agreement:

(A) No minimum age; or

(B) A minimum age between age 18 and age 21, inclusive, (as specified on the Adoption Agreement);

(ii) He or she meets one of the following minimum Eligibility Service conditions (as determined under Section 3.1), whichever is elected by the Plan Sponsor on its Adoption Agreement:

(A) No minimum Eligibility Service; or

(B) A minimum Eligibility Service between 1 month and 12 months (as specified on the Adoption Agreement);

(iii) He or she meets one of the following permanency classifications, whichever is elected by the Plan Sponsor on its Adoption Agreement:

(A) a Permanent Employee of the Plan Sponsor; or

(B) no permanency condition;

(iv) He or she meets one of the following classifications, whichever is elected by the Plan Sponsor on its Adoption Agreement:

- 53 -

(A) a Full-Time Employee of the Plan Sponsor; or

(B) either a Full-Time or a Part-Time Employee of the Plan Sponsor;

(v) He or she is:

(A) in the case of becoming initially eligible on the Entry Date:

(I) receiving Compensation from:

(1) his or her Plan Sponsor;

(2) such Plan Sponsor’s Agency Affiliate; or

(3) his or her Salary-Paying Unit;

including Compensation for a Paid Leave (but not including Compensation related to paragraph (b)(v)(B)(II) below); or

(II) entitled to participate under USERRA; and

(B) with respect to periods on and after the Entry Date:

(I) qualified under paragraph (b)(v)(A) above; or

(II) LTD Plan Disabled, if the Plan Sponsor elects on its Adoption Agreement to allow such Employees to be eligible to receive continued Plan Sponsor Contributions; and

(vi) He or she is an eligible member of an employment classification that the Plan Sponsor specifies on its Adoption Agreement that:

(A) is consistent with any rules established by the Administrator with respect to such eligibility classifications; and

(B) in the case of a Plan Sponsor that is a Non-QCCO, satisfies the limitations of Section 5.5.

(c) Clergy Plan Sponsor Contributions. In the case of Plan Sponsor Contributions to an Employee who is a Clergyperson who is Under Episcopal Appointment to one of the following entities within the Plan Sponsor’s Conference:

(i) a Local Church;

(ii) a pastoral Charge;

(iii) a Conference;

- 54 -

(iv) a Conference-Responsible Unit; or

(v) a Conference-Elective Entity,

on the Entry Date determined under Section 3.3, provided that he or she on the Entry Date is:

(vi) receiving Compensation from:

(A) his or her Plan Sponsor; or

(B) his or her Salary-Paying Unit;

including Compensation for a Paid Leave (but not including Compensation related to paragraph (c)(ix) or (x) below); or

(vii) entitled to participate under USERRA,

and, except where otherwise indicated, he or she is continuously thereafter:

(viii) qualified under paragraph (c)(vi) or (vii) above;

(ix) CPP Disabled, if the Plan Sponsor elects on its Adoption Agreement to allow such Clergypersons to be eligible to receive continued Plan Sponsor Contributions; or

(x) on Medical Leave (but not qualifying under paragraph (c)(ix) above), if the Plan Sponsor elects on its Adoption Agreement to allow such Clergypersons to be eligible to receive continued Plan Sponsor Contributions.

(d) Bishop Plan Sponsor Contributions. In the case of Plan Sponsor Contributions by GCFA to a Clergy Employee who is a Bishop, on the Entry Date determined under Section 3.3, provided that he or she satisfies all of the following requirements on the Entry Date and, except where otherwise indicated, continuously thereafter:

(i) in the case of becoming initially eligible on the Entry Date he or she is:

(A) receiving Compensation from GCFA;

(B) entitled to participate under USERRA; or

(C) entitled to participate while suspended from office in accordance with ¶2712.6 of the Discipline; and

(ii) with respect to periods on and after the Entry Date he or she is:

(A) qualified under paragraph (d)(i) above;

- 55 -

(B) CPP Disabled, if GCFA elects on its Adoption Agreement to allow such Bishops to be eligible to receive continued Plan Sponsor Contributions; or

(C) on Medical Leave (but not qualifying under paragraph (d)(ii)(B) above), if GCFA elects on its Adoption Agreement to allow such Bishops to be eligible to receive continued Plan Sponsor Contributions.

(e) Church Plan Eligible. In the case of an Employee in subsection (a), (b), (c), and/or (d) above, he or she must be eligible to participate in a Church Plan to be eligible for this Plan.

(f) Leased Employees. Notwithstanding anything to the contrary in this Section, any individual classified by his or her Plan Sponsor as a Leased Employee is not eligible for this Plan, even if he or she is later determined to have been a common law employee.

(g) Multiple Job Classifications. In the case of an Employee who has been, or is simultaneously, employed in two or more job classifications for one Plan Sponsor that has executed more than one Adoption Agreement, such Employee’s eligibility will be determined in accordance with the following:

(i) Service in all job classifications will count toward eligibility for such Employee under each Adoption Agreement.

(ii) Hours of Paid Service in all job classifications will count toward eligibility and Full-Time or Part-Time status for such Employee under each Adoption Agreement.

(iii) All other eligibility conditions (other than those described in paragraphs (g)(i) and (ii) above) will be determined separately for each job classification and separately under each Adoption Agreement.

(iv) Contributions will be determined separately for each job classification (based on Compensation earned in each job classification) and separately under each Adoption Agreement.

(h) Special Eligibility Conditions. Notwithstanding subsections (b), (c), and/or (d) above:

(i) with the consent of the Administrator in each instance;

(ii) subject to any rules established by the Administrator from time to time; and

(iii) subject to any limitations of the Code or Regulations,

- 56 -

a Plan Sponsor may establish, with respect to the right to receive Plan Sponsor Contributions, special eligibility conditions in addition to or instead of some or all of the conditions found in subsections (b), (c), and/or (d). Such special eligibility conditions may apply to:

(1) all or some part or parts of the Employees of the Plan Sponsor or one or more related Salary-Paying Units and may apply differently to one or more such Employees or to one or more Employee classifications. Such special eligibility conditions may apply to one or more different kinds of Plan Sponsor Contributions described in Section 4.1; or

(2) Retired Participant(s), Terminated Participant(s), or Clergy Employee(s) who have incurred a Termination of Employment with the Plan Sponsor or a related Salary-Paying Unit (although they may not have Retired from their Annual Conference or incurred a Termination of Conference Relationship), in accordance with Code §414(e)(3)(E)(ii), but not to exceed five years of Plan Sponsor Contributions after separation from service with such Plan Sponsor or related Salary-Paying Unit.

All such special eligibility conditions will be specified in the Plan Sponsor’s Adoption Agreement. The Plan Sponsor will be responsible for compliance with paragraphs (h)(ii) and (iii) above.

Although it will not prevent an Employee from participating in the Plan, the Administrator may require the Plan Sponsor of each Employee who is to become (or has become) a Participant (whether or not such Participant has received a Contribution) to file an application for enrollment in the Plan in such Form as may be required by the Administrator or to otherwise provide necessary enrollment information in a manner acceptable to the Administrator. Providing such enrollment information is the responsibility of the Plan Sponsor.

3.3 Determination of Entry Date. Each Employee’s Entry Date for Plan Sponsor Contributions will be the earlier of:

(a) the Effective Date, if on that date he or she satisfies the requirements of Section 3.2; or

(b) whichever of the following is elected by the Plan Sponsor on its Adoption Agreement:

(i) the first day of any calendar month coinciding with or next following the date on which he or she satisfies the requirements of Section 3.2; or

(ii) the earlier of the January 1st or July 1st coinciding with or next following the date on which he or she satisfies the requirements of Section 3.2.

If the Plan Sponsor does not specify an Entry Date on its Adoption Agreement for any Employee, it will be the earlier of the date in subsection (a) or paragraph (b)(i) above.

- 57 -

3.4 Determination of Eligibility. Upon receipt of enrollment information from the Plan Sponsor as provided in Section 3.2, the Administrator will accept such information as evidence of eligibility for participation in the Plan. However, the Administrator may from time to time audit such information or obtain additional information, which might result in a determination of ineligibility for a Participant or a determination of eligibility for a non-Participant. The Administrator has the final authority to determine the eligibility of any Employee. Such determination will be made pursuant to the provisions of the Plan and the Adoption Agreement and will be conclusive and binding upon all persons.

3.5 Cessation and Resumption of Participation.

(a) Cessation of Participation. A Participant who receives a distribution of his entire Account Balance under the Plan and who no longer qualifies under Section 3.2 will cease to be a Participant in the Plan.

(b) Reinstatement. A person who receives a distribution of his entire Sponsor Account Balance with respect to a given Plan Sponsor and who again qualifies under Section 3.2 with respect to the same Plan Sponsor will again immediately become a Participant entitled to Contributions without again waiting for an Entry Date under Section 3.3.

(c) Return to Coverage. If a Participant ceases to qualify under Section 3.2 with respect to a given Plan Sponsor but does not receive a distribution of his entire Sponsor Account Balance with respect to that Plan Sponsor and then re-qualifies under Section 3.2, he or she will once again be entitled to Contributions under the Plan from that Plan Sponsor but will not be entitled to receive distributions of his or her Sponsor Account Balance with respect to that Plan Sponsor (except to the extent that he or she thereafter qualifies under Section 8.2), even for amounts from that Sponsor Account Balance that he or she would have been entitled to receive when he or she previously ceased to qualify with respect to that Plan Sponsor under Section 3.2. But a return to coverage with one Plan Sponsor will not prevent a Participant who has a Sponsor Account Balance with a different Plan Sponsor from qualifying for a distribution from that other Sponsor Account Balance.

3.6 Omission of Eligible Employee.

(a) If, in any Plan Year, an Employee who should have been included as a Participant in the Plan is erroneously omitted from participation and if the discovery of such omission is not made until after one or more Participant Contributions or Plan Sponsor Contributions has been made for such Plan Year, the Plan Sponsor will correct that omission by making one or more replacement contributions to the appropriate Participant’s Participant Contribution Account and/or Plan Sponsor Contribution Account to substitute for the Contributions that would have been made with respect to the omitted Participant had he or she not been omitted, subject to the limits of Section 5 and the remaining provisions of this Section.

- 58 -

(b) In addition, for Contributions that are past the Due Date, the Plan Sponsor will contribute to the appropriate Participant Contribution Account and/or Plan Sponsor Contribution Account of the omitted Participant imputed earnings on the replacement contributions based on what would have been earned, credited from the Due Date until the Accounting Date as of which such replacement contributions were actually credited to the applicable Contribution Account of the omitted Participant. If there would have been a loss (i.e., a reduction in the value of the replacement contribution) during such period, then the Plan Sponsor will owe the missed Contribution under subsection (a) above, without the imputed loss.

(c) The corrective contributions made in accordance with subsections (a) and (b) above may be made in accordance with any simplifying assumptions or streamlining procedures (such as, for instance, adjusting the date as of which corrective contributions need be made to give the Plan Sponsor a reasonable time to compute earnings and make the corrective contributions without having to also grant imputed earnings with respect to the reasonable time itself) that the Plan Sponsor deems reasonable and consistent with any applicable IRS self-correction rules or Regulations.

(d) In connection with this Section, the Plan Sponsor is subject to one or more administrative charge(s) under Section 10.7(c) to the extent determined by the Administrator.

(e) In accordance with Revenue Procedure 2003-44 or its successors, replacement contributions made on account of any past Limitation Year will be deemed made in that past Limitation Year for the purpose of Code §415. Replacement contributions made on account of imputed earnings will not be treated as annual additions in any Limitation Year under Code §415.

(f) Effective January 1, 2007, corrective contributions and earnings contributed by a Plan Sponsor in accordance with this Section will be determined in a manner parallel to the rules set out in the IRS’s Self-Correction Program, even if that Program does not technically apply, unless some other part of the IRS’s Employee Plans Compliance Resolution System actually applies.

3.7 Inclusion of Ineligible Person. If, in any Plan Year, any person who should not have been included as a Participant in the Plan is erroneously included and the discovery of such incorrect inclusion is not made until after one or more Contributions for the Plan Year have been made with respect to such person, any such Contributions will constitute a mistake of fact for the Plan Year in which the Contributions are made and will be returned to the Plan Sponsor or Salary-Paying Unit (adjusted for any earnings or losses) if they qualify under Section 12.3(b). Erroneous Contributions that do not qualify under Section 12.3(b) will be forfeited to a Forfeiture Account in the name of the Plan Sponsor to be used to offset future Plan Sponsor Contributions from the Plan Sponsor to the extent permitted by the Plan and applicable Regulations or otherwise used by the Administrator to defray administrative expenses of the Plan. When an erroneous Contribution is a

- 59 -

Participant Contribution, the Plan Sponsor or Salary-Paying Unit is responsible for returning such Contribution to the Employee, even if such amount has not yet been returned by the Administrator under Section 12.3(b).

3.8 Election Not to Participate.

(a) Subject to rules adopted by the Administrator limiting such rights or specifying the effective date for such rights, any Employee may elect voluntarily:

(i) not to receive Plan Sponsor Contributions; and/or

(ii) not to have Participant Contributions made on his or her behalf

by giving Notice to any one or more Plan Sponsor(s) not later than 60 days after the effective date of such election, which Notice must be made in a Form acceptable to the Administrator. As the result of such an election, Plan Sponsor Contributions and/or Participant Contributions will not be made with respect to the electing Employee and the affected Plan Sponsor(s) while such an election is in force, and any Contributions that may be made during such a period will not be earned or will be permanently forfeited. Such election will override any Automatic Enrollment provision (see subsection (b) below). The Employee may revoke such an election at any time that such Employee is eligible to be a Participant, but such revocation will not qualify him or her for any past Contributions that might have been made or received during any periods during which such an election was in force. If such Employee already has an Account Balance in the Plan, such election not to receive Plan Sponsor Contributions and/or Participant Contributions will not affect the Account Balance or Contributions already made to the Plan on behalf of such Employee or such Employee’s right to direct the investment of such Account Balance.

(b) Any Employee who does not wish to make Participant Contributions may merely refrain from entering into a Salary-Reduction Agreement, or may terminate (as of a future date) any currently effective Salary-Reduction Agreement by means of a written revocation of the currently effective Salary-Reduction Agreement in any Form acceptable to the Plan Sponsor. Such Employee need not file any Notice not to participate with his or her Plan Sponsor in such an instance. Notwithstanding the foregoing, if the Plan Sponsor has elected Automatic Enrollment on its Adoption Agreement, such Employee must complete the election not to make Participant Contributions offered by the Plan Sponsor in connection with the Automatic Enrollment or otherwise give, in any Form acceptable to the Administrator, a Notice to the Plan Sponsor of his or her desire not to have Participant Contributions made on his or her behalf. Such Notice must be given to the Plan Sponsor within a reasonable time in advance of the time a salary reduction is effectuated.

- 60 -

SECTION 4 - AMOUNT AND ALLOCATION OF CONTRIBUTIONS

4.1 Plan Sponsor Contributions.

(a) Plan Sponsor Contributions. For each Contribution Period:

(1) each Remitter; or

(2) if a Remitter that is not a Plan Sponsor does not remit Contributions, then each Plan Sponsor

will contribute to the Administrator or Trustee at the time or times specified in subsection (c) below to the appropriate Account under Section 6.1(a) on behalf of each of its Participants who qualify under Sections 3.2, 3.3, and subsection (c) below (and continue to qualify at the time of each Contribution Period) one, more than one, or none of the following kinds of Plan Sponsor Contributions, as elected by the Plan Sponsor in its Adoption Agreement:

(i) Non-Matching Contributions. Non-Matching Contributions in a Decimal Percentage (of at least 1.00%) of such Participant’s Compensation for each Contribution Period, as elected by the Plan Sponsor in its Adoption Agreement, but subject to any rules made by the Administrator as to amount of Contribution or manner or timing of election;

(ii) Matching Contributions. Matching Contributions for each Contribution Period in an amount equal to X% of the portion of such Participant’s Participant Contributions that do not exceed Y% percent of such Participant’s Compensation for each Contribution Period, where:

(A) X% = a Decimal Percentage (of at least 1.00%) elected by the Plan Sponsor on its Adoption Agreement; and

(B) Y% = a Decimal Percentage between 1.00% and the lesser of:

(I) 99.99%; or

(II) the amount necessary to comply with Section 5;

as elected by the Plan Sponsor in its Adoption Agreement;

(Examples: (1) if X% is 50.00%, Y% is 5.00%, and such Participant elects a Participant Contribution of 7.00% of his or her $5,000 Compensation in a one month Contribution Period, then the Matching Contribution for such Participant for such month will be $125, which is 5.00% x $5,000 x 50.00%; and (2) if X% is 25.00%, Y% is 5.00%, and such Participant elects a Participant Contribution of 4.00% of his or her $5,000 Compensation in a one month Contribution Period, then the Matching

- 61 -

Contribution for such Participant for such month will be $50, which is 4.00% x $5,000 x 25.00%); or

(iii) Conditional Contributions. Conditional Contributions in a Decimal Percentage (of at least 1.00%) of such Participant’s Compensation, as elected in the Plan Sponsor’s Adoption Agreement, for each Contribution Period during which:

(A) such Participant has a current Participant Contribution election in force that meets the minimum Participant Contribution percentage that such Plan Sponsor has elected in its Adoption Agreement; and

(B) the Plan Sponsor or Salary-Paying Unit has made or is simultaneously making such minimum Participant Contribution.

The minimum Participant Contribution percentage will be elected in the Plan Sponsor’s Adoption Agreement, but will be subject to any rules made by the Administrator as to amount of Contribution or manner or timing of election.

(iv) Discretionary Contributions. Discretionary Contributions according to a formula, or in an amount, specified by the Plan Sponsor in a Form acceptable to, and subject to rules established by, the Administrator (which may include Discretionary Contributions in a Decimal Percentage of such Participant’s Compensation and/or in a flat amount per Participant) with respect to a Plan Year Contribution Period that the Plan Sponsor:

(A) declares in writing to the Administrator and its Participants not later than May 1 following such Plan Year (or such other date that is specified by the Administrator); and

(B) remits (or arranges for the Salary-Paying Unit to remit) to the Administrator, effective January 1, 2007, by June 15 following such Plan Year (or such other date that is specified by the Administrator and permissible under applicable law and Regulations);

subject to the following and any rules established by the Administrator:

(1) if a person was a Participant in the Plan with respect to such Plan Sponsor at some point during such Plan Year but was not a Participant in the Plan with respect to such Plan Sponsor at the end of such Plan Year, then:

(I) such person will receive a pro-rated portion of any such Discretionary Contribution, based on his or her Compensation received for such Plan Year while he

- 62 -

or she was a Participant in the Plan with respect to such Plan Sponsor;

(II) the Administrator will reestablish any necessary Accounts in the Plan for such person to the extent necessary (and such person will again become a Participant in the Plan with respect to such Plan Sponsor if such participation had ended); and

(III) if the Participant (or his or her Beneficiary) previously received a distribution of his or her entire Account Balance under the Plan, the Administrator (presuming such Participant still qualifies for a distribution) will distribute the newly established Account Balance to such Participant as soon as is practicable in the same form as the immediately previous distribution (unless such Participant refuses the further distribution at that time); and

(2) Discretionary Contributions will not be made to any person or Participant in excess of the limits in Section 5.1(a) and will not be deemed earned to the extent that they exceed the limits in Section 5.1(a) for any Limitation Year.

Although Discretionary Contributions will be determined annually as described above, a Plan Sponsor may elect Discretionary Contributions on its Adoption Agreement on either an annual basis or an open-ended, evergreen basis (subject to discontinuance as elected by the Plan Sponsor and/or in accordance with rules made by the Administrator). If a Plan Sponsor has elected Discretionary Contributions on its Adoption Agreement but has not satisfied either paragraph (a)(iv)(A) or (B) above for any Plan Year Contribution Period and has not previously elected Discretionary Contributions on an open-ended, evergreen basis, then it will be presumed that the Plan Sponsor has elected a 0% Discretionary Contribution for that Plan Year Contribution Period.

(v) Grandfathered Contribution Formulas. Notwithstanding the foregoing, Plan Sponsors under CPBF that, on the day before the Effective Date, were making Plan Sponsor Contributions under CPBF according to a formula:

(A) other than one of the formulas provided above in this Section; and

(B) that was grandfathered under CPBF or a predecessor plan

- 63 -

may continue to make Plan Sponsor Contributions under this Plan in accordance with the same formula, with the consent of the Administrator and for so long as the Administrator permits. Such grandfathered formula will be specified on the Plan Sponsor’s Adoption Agreement.

(b) Disabled Participants. In the case of a Disabled Participant, if the Plan Sponsor so elects in its Adoption Agreement, the Plan Sponsor owes the Plan Sponsor Contribution specified in subsection (a), if any is specified, based on the Participant’s rate of Compensation on the day before he or she became Disabled (to the extent permitted under Code §415(c)(2)(C)), with 3% annual imputed increases in Compensation starting with the year following the year in which such Contribution was first made, whether the Plan Sponsor makes the Contributions or the LTD plan or CPP makes some or all of the Contributions, from the date such Participant becomes Disabled until the earliest of:

(i) the date such Participant ceases to be Disabled;

(ii) in the case of a Participant who became Disabled before his or her Normal Retirement Date, on his or her Normal Retirement Date;

(iii) in the case of a Participant who became Disabled on or after his or her Normal Retirement Date, on the earlier of:

(A) the five-year anniversary of such Participant becoming Disabled; or

(B) such Participant’s 70th birthday;

(iv) in the case of a CPP Disabled Participant, the date that CPP disability retirement plan contribution benefits under CPP cease; or

(v) the date the Plan Sponsor amends its Adoption Agreement to discontinue Contributions to Disabled Participants.

(c) Qualification for and Time of Making Plan Sponsor Contributions. The Plan Sponsor will owe Plan Sponsor Contributions for each Contribution Period for:

(i) each:

(A) Participant who is scheduled (or reasonably expected by his or her Plan Sponsor) to satisfy the conditions of Sections 3.2 and 3.3 for each Contribution Period, Plan Year, or other relevant period; and

(B) Disabled Participant.

The Administrator will establish a Due Date for such Plan Sponsor Contributions that is within a reasonable time after the close of each Contribution Period or, where appropriate, Plan Year or other period.

- 64 -

(ii) each Participant who:

(A) is not scheduled (nor reasonably expected) to satisfy the conditions of Sections 3.2 and 3.3 for a Contribution Period, Plan Year, or other relevant period; but

(B) as of the end of a Plan Year in fact does satisfy the conditions of Sections 3.2 and 3.3.

The Administrator will establish a Due Date for such Plan Sponsor Contributions that is within a reasonable time after the close of such Plan Year.

A Participant who is scheduled (or reasonably expected) to satisfy the conditions of Sections 3.2 and 3.3 at the start of a Contribution Period need not actually satisfy such conditions to earn a Plan Sponsor Contribution as long as he or she was scheduled (or reasonably expected by his or her Plan Sponsor) to satisfy such conditions at the start of such Contribution Period.

4.2 Participant Contributions.

(a) Participant Contributions. Each Remitter will contribute to the appropriate Account under Section 6.1(b) for each Contribution Period on behalf of each of its Participants who qualify under Section 3.2 (and continue to qualify at the time of each Contribution Period):

(i) Salary-Reduction Agreement. The amount or percentage of such Participant’s Compensation (in an increment acceptable to the Administrator) that such Participant elects to contribute to the Plan from his or her Compensation in a Salary-Reduction Agreement, or such other election Form as is acceptable to the Administrator, in one or more of the following forms:

(A) as Before-Tax Contributions to such Participant’s Before-Tax Contribution Account;

(B) as After-Tax Contributions to such Participant’s After-Tax Contribution Account; or

(C) as Roth Contributions to such Participant’s Roth Contribution Account in accordance with subsection (e) below

as specified by such Participant in such Salary-Reduction Agreement, or other election Form acceptable to the Administrator, which Agreement or Form will be submitted to the Plan Sponsor or Salary-Paying Unit;

- 65 -

(ii) Automatic Enrollment. If such Participant does not make an election under paragraph (a)(i) above and his or her Plan Sponsor has elected Automatic Enrollment, and the Participant:

(A) belongs to a category of Participants specified on the Plan Sponsor’s Adoption Agreement as being subject to Automatic Enrollment and

(B) is a member of a category of Participants that is eligible for Automatic Enrollment, as defined by the Administrator from time to time,

then the amount or percentage of such Participant’s Compensation as Before-Tax Contributions that such Participant is deemed to have elected to contribute to the Plan from his or her Compensation in accordance with his or her Plan Sponsor’s Automatic Enrollment election on its Adoption Agreement; or

(iii) Default. If such Participant does not make an election under paragraph (a)(i) above and his or her Plan Sponsor has not elected Automatic Enrollment, then zero Participant Contributions.

A Participant may change the amount or percentage of his or her Participant Contributions at any time on reasonable notice to the Administrator (including suspending and restarting such Participant Contributions) by submitting a revised Salary-Reduction Agreement or other election Form acceptable to the Administrator, to the Plan Sponsor or Salary-Paying Unit. Effective January 1, 2009, Non-QCCOs will afford each of their Participants who qualify under Section 3.2 an effective opportunity, within the meaning of Regulation §1.403(b)-5(b), to make Participant Contributions. Effective January 1, 2007, a Disabled Participant may make Participant Contributions from disability benefits when that can be arranged with the payor of such benefits. A Participant may make After-Tax Contributions via personal check (or other electronic or equivalent means) if such Participant has executed an agreement with the Administrator, in a form determined by the Administrator, that sets forth the terms of such contributions, and such agreement remains in effect.

Effective January 1, 2018, a Participant’s percentage of Participant Contributions may be increased under the Automatic Contribution Escalation option, subject to any rules and procedures established by the Administrator, if such option is elected by the Plan Sponsor or (once permitted by the Administrator) Participant, unless the Participant has opted out of such feature on a Form acceptable by the Administrator or unless the Participant is a member of a category of Participants that is ineligible for Automatic Contribution Escalation, as defined by the Administrator from time to time.

- 66 -

(b) 15-Year Catch-Up Contributions. In addition to the Contributions described in subsection (a) above, a Participant who qualifies may make 15-Year Catch-Up Contributions in accordance with the following:

(i) Eligibility. A Participant who qualifies under Section 3.2 will be deemed to make 15-Year Catch-Up Contributions to the extent provided in this Section (and subject to the other provisions of the Plan) if:

(A) he or she:

(I) is eligible to make Before-Tax Contributions or Roth Contributions under subsection (a) at some time during a Plan Year for which he or she is deemed to have made 15-Year Catch-Up Contributions; and

(II) has, by the end of that Plan Year (or such further period as may be permitted under Section 5.2(b)), made all of the Before-Tax Contributions and Roth Contributions he or she can make for that Plan Year under Section 5.2(a), as limited by other provisions of the Plan; and

(B) by the first day of that Plan Year, he or she has at least 15 years of 15-Year Catch-Up Service.

Notwithstanding paragraph (b)(i)(A) above, if a Participant is limited by Section 8.9(b)(ii)(B) (dealing with suspension from the Plan following a hardship withdrawal), then he or she will not be eligible under this paragraph (b)(i) until the limitations of Section 8.9(b)(ii)(B) have expired, and he or she otherwise meets the requirements of paragraphs (b)(i)(A) and (B).

(ii) Making 15-Year Catch-Up Contributions.

(A) Deemed Election. Subject to the limitations of Section 8.9(b)(ii)(B), each Participant who qualifies under paragraph (b)(i) above will be deemed to have made an election to have a portion of his or her Compensation contributed to the Plan as 15-Year Catch-Up Contributions to the extent his or her Before-Tax Contributions and/or Roth Contributions exceed the limit in Section 5.2(a) (i.e., the Code §402(g) limit), up to the applicable limit specified in paragraph (b)(ii)(B) below. The election to make 15-Year Catch-Up Contributions is automatic and is triggered under the conditions specified in this Section. A Participant may not specifically elect to make 15-Year Catch-Up Contributions.

(B) Contribution Limit. 15-Year Catch-Up Contributions may be made in any dollar amount or percentage of the Participant’s

- 67 -

Compensation, provided that 15-Year Catch-Up Contributions for any Plan Year may not exceed the least of:

(I) $3,000;

(II) $15,000 minus the Participant’s 15-Year Catch-Up Aggregate Sum; or

(III) the difference between:

(1) $5,000 times the years of service computed under paragraph (b)(i)(B) above; minus

(2) effective January 1, 2007, the sum of the Participant’s Before-Tax Contributions and Roth Contributions previously made with respect to the years of service computed under paragraph (b)(i)(B) above.

Notwithstanding the foregoing, 15-Year Catch-Up Contributions, taken together with all other Contributions on behalf of a Participant in a Determination Year may not exceed the limits of Section 5.1(a) (i.e., the Code §415(c) limit).

(C) Accounting. 15-Year Catch-Up Contributions will retain their character as Before-Tax Contributions and/or Roth Contributions and will be accounted for, respectively, in an Accountholder’s Before-Tax Contribution Account and/or Roth Contribution Account. But 15-Year Catch-Up Contributions will also be separately accounted for in each Participant’s 15-Year Catch-Up Aggregate Sum for the purpose of determining the aggregate of all 15-Year Catch-Up Contributions made for a Participant in all previous years. A Participant’s 15-Year Catch-Up Aggregate Sum will also reflect any contributions made before the Effective Date of this Plan or made outside of this Plan, to the extent known by the Administrator and/or as further specified in Regulations, that may be taken into account under Code §402(g)(7)(A)(ii) or (iii).

(D) Matching or Conditional Contributions. A Participant will retain any Matching Contributions or Conditional Contributions made on account of his or her Before-Tax Contributions and/or Roth Contributions that have been deemed to be 15-Year Catch-Up Contributions.

(c) Age 50 Catch-Up Contributions. In addition to the Contributions described in subsection (a) above, a Participant who qualifies may make Age 50 Catch-Up Contributions in accordance with the following:

- 68 -

(i) Eligibility. A Participant who qualifies under Section 3.2 will be deemed to make Age 50 Catch-Up Contributions to the extent provided in this Section (and subject to the other provisions of the Plan) if:

(A) he or she:

(I) is eligible to make Before-Tax Contributions or Roth Contributions under subsection (a) at some time during a Plan Year for which he or she is deemed to have made Age 50 Catch-Up Contributions; and

(II) has, by the end of that Plan Year (or such further period as may be permitted under Section 5.2(b)), made all of the Before-Tax Contributions and Roth Contributions he or she can make for that Plan Year under Section 5.2(a), as limited by other provisions of the Plan; and

(B) by the last day of that Plan Year, he or she is scheduled to have attained at least age 50 (without regard for whether he or she survives or remains in employment until his or her 50th birthday or the end of the Plan Year).

Notwithstanding paragraph (c)(i)(A) above, if a Participant is limited by Section 8.9(b)(ii)(B) (dealing with suspension from the Plan following a hardship withdrawal), then he or she will not be eligible under this paragraph (c)(i) until the limitations of Section 8.9(b)(ii)(B) have expired, and he or she otherwise meets the requirements of paragraphs (c)(i)(A) and (B).

(ii) Making Age 50 Catch-Up Contributions.

(A) Deemed Election. Subject to the limitations of subsection (d) below and Section 8.9(b)(ii)(B), each Participant who qualifies under paragraph (b)(i) above will be deemed to have made an election to have a portion of his or her Compensation contributed to the Plan as Age 50 Catch-Up Contributions to the extent his or her Before-Tax Contributions and/or Roth Contributions exceed either or both of the limits in:

(I) Section 5.2(a) (i.e., the Code §402(g) limit); or

(II) Code §415(c)(1)(A);

in either or both cases up to the applicable limit specified in paragraph (c)(ii)(B) below. The election to make Age 50 Catch-Up Contributions is automatic and is triggered under the conditions specified in this Section. A Participant may not specifically elect to make Age 50 Catch-Up Contributions. Age 50 Catch-Up

- 69 -

Contributions withheld in any Plan Year may not be made retroactive to or with respect to another Plan Year.

(B) Contribution Limit. Age 50 Catch-Up Contributions may be made in any dollar amount or percentage of the Participant’s Compensation, provided that Age 50 Catch-Up Contributions for any Plan Year may not exceed the limits of Section 5.2(a)(iii).

(C) Accounting. Age 50 Catch-Up Contributions will retain their character as Before-Tax Contributions and/or Roth Contributions and will be accounted for, respectively, in an Accountholder’s Before-Tax Contribution Account and/or Roth Contribution Account.

(D) Matching or Conditional Contributions. A Participant will retain any Matching Contributions or Conditional Contributions made on account of his or her Before-Tax Contributions and/or Roth Contributions that have been deemed to be Age 50 Catch-Up Contributions.

(iii) Applicability of Code Limitations. Notwithstanding anything in the Plan to the contrary, Age 50 Catch-Up Contributions will not be taken into account under Code §§401(a)(30), 402(g), or 415(c)(1)(A) (or any provision of this Plan implementing any such provisions, such as Sections 5.1(a)(i), 5.2 (excluding Section 5.2(a)(iii)), and 5.3). Further, the Plan will not be treated as failing to satisfy Code §§401(a)(4), 410(b), or 416 of the Code (or any provision of this Plan implementing any such provisions, such as Section 5.5) by reason of the making of Age 50 Catch-Up Contributions.

(d) Catch-Up Contribution Ordering. If a Participant is deemed to make both 15-Year Catch-Up Contributions and Age 50 Catch-Up Contributions, 15-Year Catch-Up Contributions will be treated as having been made first to the extent permitted under subsection (b) above, and then Age 50 Catch-Up Contributions for any remaining Catch-Up Contributions to the extent permitted under subsection (c) above.

(e) Roth Contributions. Roth Contributions, if any, will be made under Section paragraph (a)(i)(C) in accordance with the following:

(i) Effective Date. Roth Contributions will not be available under the Plan until such date, if any, as the Administrator chooses to implement them by means of a written rule announced to Plan Sponsors.

(ii) Irrevocable Election. A Participant must elect to designate certain Participant Contributions irrevocably as Roth Contributions. They may not be recharacterized later as After-Tax or Before-Tax Contributions. A

- 70 -

Participant may, however, prospectively change his or her election to start, stop, or change the proportion of his or her Contributions that are designated as Roth Contributions.

(iii) Elective Deferral. Roth Contributions will be considered elective deferrals within the meaning of Code §402(g)(3)(C).

(iv) Roth Contribution Account. Roth Contributions will be made to a Roth Contribution Account, which will be maintained separately from other Accounts. The Administrator will maintain a record of the Participant’s investment in the contract, i.e., the original Roth Contributions, unadjusted for Debits or Credits, that have not yet been distributed.

(v) No Forfeitures. Forfeitures may not be allocated to a Roth Contribution Account.

(vi) First Roth Contribution. To determine when a Roth Qualified Distribution occurs, the Administrator will establish and maintain a record of the earlier of:

(A) the year in which the first Roth Contribution or Roth Conversion was made to a Participant’s Roth Contribution Account; or

(B) when a Roth Contribution has been rolled into the Plan, the year in which the first Roth contribution was made to the predecessor Roth account from which such Roth Contribution was rolled into this Plan.

(f) Certain Extension Ministries. Effective January 1, 2009, when a Plan Sponsor sponsors Participant Contributions for one or more Clergypersons under Section 1.8(a)(ii), such Plan Sponsor need not offer participation in the Plan or the right to elect Participant Contributions to any of its Employees who are not Clergypersons.

4.3 Allocation and Deposit of Contributions. All Contributions will be forwarded to the Administrator by the Plan Sponsor (or Salary-Paying Unit) as soon as possible, but in no event later than the Due Date for each type of Contribution. The Administrator will deposit Contributions in the Trust as soon as possible after receiving them. Each Participant’s share of the Contributions will be allocated to the Participant’s Accounts as of the Accounting Date coinciding with or next succeeding the date they are deposited in the Trust. Unless otherwise specifically provided in the Plan, in the Code, or in Regulations, Contributions will be credited to a Participant’s Account when received, not as of an earlier time when they may have been earned.

4.4 Late Contributions. If a Plan Sponsor or a Salary-Paying Unit delays in making a Contribution to the Plan on behalf of any Participant until after the Due Date referred to in Section 4.3, then the Plan Sponsor or Salary-Paying Unit will make such delayed Contribution to the Plan as soon as possible thereafter, along with imputed earnings on

- 71 -

such delayed Contribution (or adjusted for losses) in accordance with Sections 3.6(b), (c), and (f). Effective January 1, 2009, delayed Contributions will be adjusted upwards for imputed earnings but not downwards for imputed losses. The Salary-Paying Unit (if it is different from the Plan Sponsor) has the initial liability to make such late Contributions and imputed earnings to the Administrator, but if the Salary-Paying Unit fails to remit such amounts within such time as may be determined under rules adopted by the Administrator, then the Plan Sponsor must remit such amounts instead (thereby becoming entitled to collect such amounts from the Salary-Paying Unit as reimbursement). The Plan Sponsor is always responsible for making Plan Sponsor Contributions. For the purpose of Code §415, such replacement Contributions (including imputed earnings) will be treated as specified in Section 3.6. For Accounting purposes, added Contributions on account of imputed earnings will be treated as additional Plan Sponsor Contributions. Any special services provided by the Administrator in connection with this Section are subject to the additional charges provided for in Section 10.7(c).

4.5 Ineligible Participants. If a Participant ceases to qualify under Section 3.2, is on a Leave of Absence (except as otherwise required under Section 12.9 (relating to USERRA) or applicable law), is suspended from employment without pay, or is otherwise not earning Compensation for a payroll period for a reason not covered under Section 3.2, but has not incurred a Break in Service, then for any such period the Participant’s Accounts will not be credited with any Contributions.

4.6 Rollovers into the Plan.

(a) General Rule. An eligible Accountholder who qualifies under subsection (b) below may, in accordance with procedures established by the Administrator and subject to any limitations imposed under the Code, roll over to such eligible Accountholder’s Rollover Account in the Plan part or all of an Eligible Rollover Distribution received by such eligible Accountholder from a:

(i) Code §403(b)(1) annuity contract;

(ii) Code §403(b)(7) custodial account;

(iii) Code §403(b)(9) retirement income account;

(iv) Code §401(a) qualified plan (including §401(k) plans);

(v) Code §457(b) government plan;

(vi) Code §408(a) individual retirement account (but not including after-tax amounts); and

(vii) Code §408(b) individual retirement annuity (but not including after-tax amounts);

including amounts that are:

- 72 -

(1) before-tax contributions (and earnings thereon);

(2) QVECs (and earnings thereon);

(3) effective January 1, 2007, after-tax contributions made to the other plan (and earnings thereon), but not including such rollovers from an IRA;

(4) Roth-type contributions (and earnings thereon) under Code §§402A made to the other plan or IRA, provided that:

(A) Roth Contributions are offered under this Plan in accordance with Section 4.2(e)(i); and

(B) any such rollovers must be either:

(I) added to such eligible Accountholder’s Roth Contribution Account; or

(II) separately accounted for as Roth contributions in such eligible Accountholder’s Rollover Account; and

(5) Plan Sponsor or employer contributions (and earnings thereon);

provided that the Eligible Rollover Distribution is paid over to the Plan as a direct rollover or within 60 days following receipt of the Eligible Rollover Distribution by such eligible Accountholder, or such later date as may be permitted under the Code. Notwithstanding the foregoing, a rollover into the Plan will not be permitted when it is not permitted under the Code, such as under Code §§402(c)(4) and (9) (for a beneficiary of a decedent’s account balance to roll any portion of the balance to another plan, the beneficiary must be the surviving spouse of the decedent).

(b) Eligibility for Rollover. For the purpose of subsection (a) above, the term “eligible Accountholder” includes:

(i) a Participant or Terminated Participant;

(ii) an Employee of a Salary-Paying Unit or a Plan Sponsor who has not yet become a Participant (provided that such Employee enrolls in the Plan simultaneously with such rollover, although such Employee need not elect to have Participant Contributions made on his or her behalf thereafter);

(iii) a Retired Participant Under Episcopal Appointment;

(iv) any former employee of a Plan Sponsor; and

(v) effective November 1, 2012, the surviving Spouse or Alternate Payee of any Participant,

- 73 -

provided that the Aggregate Account Balance of an Accountholder who is a Terminated Participant or described in paragraph (iv) above will be at least $5,000 upon completion of the rollover.

(c) Sponsor Account Balances. Under rules adopted by the Administrator that are similar to Code §402(c) rollovers, an Accountholder may request that amounts held in one Plan Sponsor’s Sponsor Account Balance be transferred to another Plan Sponsor’s Sponsor Account Balance under the Plan.

(d) EESA. Effective October 3, 2008, notwithstanding the foregoing provisions of this Section, affected participants, as defined in the Emergency Economic Stabilization Act of 2008 (aka, EESA) (relating to persons affected by floods and tornadoes in the Mississippi valley region), may:

(i) re-contribute before-tax qualified disaster recovery assistance distributions (as defined in EESA) on a before-tax basis within three years, as though they were rollovers into the Plan; and

(ii) re-contribute distributions for the purpose of purchasing a home (as defined in EESA) by March 3, 2009 if the home purchase was canceled because of such floods or tornadoes, as though they were rollovers into the Plan.

4.7 Transfers into the Plan.

(a) Eligibility for Transfer. To the extent consistent with applicable Regulations, Employees and Participants are eligible to make a transfer into the Plan.

(b) Transfers. Subject to any limitations imposed by applicable law or Regulations, amounts may be transferred to the Plan on behalf of an eligible Accountholder, as specified under subsection (a) above, directly from a Church Plan that is a Code §403(b)(1) annuity contract, a Code §403(b)(7) custodial account, a Code §403(b)(9) retirement income account, or a Code §401(a) plan, provided that the transfer is made in accordance with rules and procedures established by the Administrator, including without limitation, minimum amounts for such transfers and kinds of assets to be transferred. Effective September 25, 2007, when required by Regulation §1.403(b)-10(b) or related IRS advice (such as Revenue Procedure 2007-71), the Plan Sponsor or Administrator will enter into any required information sharing agreement with the issuer of the contract or account from which such transfer is made.

(c) Transfer Limitations. The Administrator may accept a transfer of assets to the Plan for a Participant or Beneficiary only if:

(i) The transferor plan provides for direct transfers of assets;

- 74 -

(ii) The Participant is an Employee or former Employee of a Plan Sponsor, and the Administrator will accept the transfer into the Sponsor Account Balance of that Plan Sponsor;

(iii) The Participant or Beneficiary whose assets are being transferred has a benefit immediately after the transfer that is at least equal to the benefit with respect to that Participant or Beneficiary immediately before the transfer; and

(iv) The transferred amounts are subject to restrictions on distributions from the Plan that are not less stringent than the statutory distribution limitations imposed under the transferor plan.

(d) Accounting for Transfers. Transferred amounts may be accounted for by the Administrator in any Account that the Administrator determines is appropriate.

4.8 Roth Conversions. Roth Conversions, if any, will be available in accordance with the following:

(a) Effective Date. Roth Conversions will not be available under the Plan until such date, if any, as the Administrator chooses to implement them by means of a written rule announced to Plan Sponsors.

(b) Eligible Accountholders. Only Participants, Terminated Participants, Beneficiaries who are surviving Spouses of a Participant or Terminated Participant, and Alternate Payees who are a Spouse or former Spouse of a Participant or Terminated Participant, are eligible to make a Roth Conversion.

(c) Eligible Amounts. All amounts that are Vested and held in Accounts established for Accountholders that are not the Roth Contributions Account, whether currently distributable or not, are eligible to be converted into the Roth Contributions Account via a Roth Conversion.

(d) Irrevocable Election. Elections to make a Roth Conversion, which will be made in a manner determined by the Administrator, are irrevocable.

(e) Applicable Rules and Policies. Roth Conversions may be subject to written rules established by the Administrator in its discretion.

- 75 -

SECTION 5 - LIMITS ON CONTRIBUTIONS

5.1 Limit on Annual Additions.

(a) Limitation. Notwithstanding any other provisions of the Plan (except for this Section 5), the amount of Annual Additions allocated to a Participant’s Account for any Limitation Year will not exceed an amount equal to the limit of paragraph (a)(i) below, as increased, if at all, by the provisions of paragraphs (a)(ii) and (iii) below.

(i) Standard Limit. The limit of this paragraph (a)(i) is the lesser of:

(A) $54,000 (in 2017 or as indexed under Code §415(d) in other years); or

(B) 100% of the Participant’s 415 Compensation for the Limitation Year;

reduced, in either case, by the amount of Annual Additions credited to the Participant’s account for the Limitation Year under any other Code §403(b) defined contribution plan maintained by a Plan Sponsor, or a 415 Affiliate aggregated under Code §415(k)(4).

(ii) $3,000 Missionary Minimum. To the extent permitted under Code §415(c)(7)(C) and Regulations, if the amount of Annual Additions allocated to a Participant’s Account for any Limitation Year exceeds the limit of paragraph (a)(i) above, in the case of a Participant performing services outside of the United States for any entity that is controlled by or associated with The United Methodist Church or any autonomous affiliated church, such limit will be increased (if this paragraph (a)(ii) provides an increase) to $3,000, provided that such Participant’s adjusted gross income for such Limitation Year (determined separately and without regard to community property laws) does not exceed $17,000.

(iii) $10,000 Minimum. To the extent permitted under Code §415(c)(7)(A) and Regulations, if the amount of Annual Additions allocated to a Participant’s Account for any Limitation Year exceeds the limit of paragraph (a)(i) above, as increased to the limit of paragraph (a)(ii) above (if such paragraph provides an increase), such limit will be increased to the lesser of:

(A) $10,000 minus the limit of paragraph (a)(i) (as increased to the limit of paragraph (a)(ii)) above as applied to such Participant in such Limitation Year; or

(B) $40,000 minus the aggregate of all previous Annual Additions for all previous Limitation Years made because of the extended limit attributable to Code §415(c)(7)(A)(i).

- 76 -

This paragraph (a)(iii) will be applied, to the extent required under Code §415(c)(7)(A) and Regulations, to the Participant’s Account for the Limitation Year with his or her account under any other Code §403(b) defined contribution plan maintained by a Plan Sponsor, or a 415 Affiliate aggregated under Code §415(k)(4).

(b) Error in Previous Limitation Year. To the extent permitted by applicable law, an amount credited to a Participant’s Account in order to correct an error made in a previous Limitation Year will be treated for the purpose of subsection (a) above as having been credited to such Account in the Limitation Year to which the error relates, rather than the Limitation Year in which such correction contribution was actually contributed, but any reasonable amount of imputed earnings included in any such correction contribution will not be treated as an Annual Addition for either such year.

(c) Correction of Excess Annual Additions. If the amount otherwise allocable to a Participant’s Account, or with respect to a Participant in any other Code §403(b) defined contribution plan described in subsection (e) below, in a Limitation Year would exceed the limitation set forth in subsection (a) above, the Plan Sponsor or Administrator may stop crediting Annual Additions to such Participant that would exceed the limitation, providing that such cessation complies, to the extent required, with Regulation §1.415(a)-1(d)(2). Alternatively, the amount of such excess will be corrected as soon as is practicable by the application of one or more of paragraphs (c)(i)-(xi) below in the following order to the extent necessary and to the extent permissible under the Code or Regulations or Internal Revenue Service programs (such as the Employee Plans Compliance Resolution System) thereunder:

(i) first, in the case of a Participant eligible to make before-tax elective deferral contributions (including any qualified as 15-Year Catch-Up Contributions) to a Code §403(b) defined contribution plan, by a recharacterization of any such contributions (and any earnings thereon) for the Limitation Year as age 50 catch-up contributions to the extent permissible under Code §414(v) and any such defined contribution plan;

(ii) second, in the case of a Participant eligible to make Roth elective deferral contributions (including any qualified as 15-Year Catch-Up Contributions) to a Code §403(b) defined contribution plan, by a recharacterization of any such contributions (and any earnings thereon) for the Limitation Year as age 50 catch-up contributions to the extent permissible under Code §414(v) and any such defined contribution plan;

(iii) third, in the case of a Participant eligible to make after-tax participant contributions to a Code §403(b) defined contribution plan, by returning all or a portion of such contributions (and any earnings thereon) for the Limitation Year, except that in the case of a Participant whose Plan Sponsor or employer makes matching contributions (including

- 77 -

Conditional Contributions), such return of after-tax participant contributions will be made only to the extent that they were not pre-requisites to earning matching contributions (including Conditional Contributions) and only to the extent permitted by such defined contribution plan;

(iv) fourth, by returning all or a portion of the Participant’s before-tax elective deferral contributions to a Code §403(b) defined contribution plan (and any earnings thereon) for the Limitation Year, except that in the case of a Participant whose Plan Sponsor or employer makes matching contributions (including Conditional Contributions), such return of before-tax elective deferral contributions will be made only to the extent that they were not pre-requisites to earning matching contributions (including Conditional Contributions) and only to the extent permitted by such defined contribution plan;

(v) fifth, by returning all or a portion of the Participant’s Roth elective deferral contributions to a Code §403(b) defined contribution plan (and any earnings thereon) for the Limitation Year, except that in the case of a Participant whose Plan Sponsor or employer makes matching contributions (including Conditional Contributions), such return of Roth elective deferral contributions will be made only to the extent that they were not pre-requisites to earning matching contributions (including Conditional Contributions) and only to the extent permitted by such defined contribution plan;

(vi) sixth, in the case of a Participant whose Plan Sponsor or employer makes matching contributions (including Conditional Contributions) to a Code §403(b) defined contribution plan, by repeating the following cycle: returning one dollar of after-tax participant contributions (and any earnings thereon) for the Limitation Year to the Participant and forfeiting any corresponding matching contributions (including Conditional Contributions) (and any earnings on either) and crediting them to a 415 Suspense Account in the name of the Plan Sponsor or employer, until such excess is corrected or all after-tax participant contributions and matching contributions (including Conditional Contributions) (and any earnings on either) have been returned or forfeited, all to the extent permitted by such defined contribution plan;

(vii) seventh, in the case of a Participant whose Plan Sponsor or employer makes matching contributions (including Conditional Contributions) to a Code §403(b) defined contribution plan, by repeating the following cycle: returning one dollar of before-tax elective deferral contributions (and any earnings thereon) for the Limitation Year to the Participant and forfeiting any corresponding matching contributions (including Conditional Contributions) (and any earnings on either) and crediting them to a 415 Suspense Account in the name of the Plan Sponsor or employer, until such

- 78 -

excess is corrected or all before-tax elective deferral contributions and matching contributions (including Conditional Contributions) (and any earnings on either) have been returned or forfeited, all to the extent permitted by such defined contribution plan;

(viii) eighth, in the case of a Participant whose Plan Sponsor or employer makes matching contributions (including Conditional Contributions) to a Code §403(b) defined contribution plan, by repeating the following cycle: returning one dollar of Roth elective deferral contributions (and any earnings thereon) for the Limitation Year to the Participant and forfeiting any corresponding matching contributions (including Conditional Contributions) (and any earnings on either) and crediting them to a 415 Suspense Account in the name of the Plan Sponsor or employer, until such excess is corrected or all Roth elective deferral contributions and matching contributions (including Conditional Contributions) (and any earnings on either) have been returned or forfeited, all to the extent permitted by such defined contribution plan;

(ix) ninth, by crediting any other non-Vested Plan Sponsor or employer contributions made for the Limitation Year to a Code §403(b) defined contribution plan that are not specified in paragraphs (c)(vi) through (viii) above (and any earnings thereon) to a Code §415 suspense account in the name of the Plan Sponsor or employer, to be used to reduce the need for future Plan Sponsor or employer contributions, all to the extent permitted under such other plan;

(x) tenth, by crediting any other Plan Sponsor or employer contributions made for the Limitation Year to a Code §403(b) defined contribution plan that are not specified in paragraphs (c)(vi) through (ix) above (and any earnings thereon) to a Code §415 suspense account in the name of the Plan Sponsor or employer, to be used to reduce the need for future Plan Sponsor or employer contributions, all to the extent permitted under such other plan; and

(xi) finally, by returning any other contributions not previously returned (and any earnings thereon) for the Limitation Year, in the case of Plan Sponsor Contributions under this Plan, to a 415 Suspense Account in the name of the Plan Sponsor, to be used to reduce the need for future Contributions from such Plan Sponsor.

Any amounts in a Plan Sponsor’s 415 Suspense Account will be used to reduce future Contributions to Participants from that Plan Sponsor to Plan Sponsor Contribution Accounts, Before-Tax Contribution Accounts, and/or Roth Contribution Accounts. 415 Suspense Account amounts will be so applied as soon as possible after the amounts are allocated to the 415 Suspense Account. If a sum in a 415 Suspense Account has not been so reallocated to Participant Accounts within two Plan Years after the close of the Plan Year in which the sum was first

- 79 -

allocated to the 415 Suspense Account, then such sum will be returned to the Plan Sponsor to the extent permitted under the Code and Regulations or used by the Administrator to offset expenses of administration of the Plan. Any amounts left in a Participant’s Account for any Limitation Year that exceed the limitation set forth in subsection (a) above will be treated as a 403(c) Contract, and such amounts will be taxable to the Participant in such Limitation Year and distributed to such Participant as soon as practicable. Notwithstanding the foregoing, effective January 1, 2008, all corrections and refunds of excess Annual Additions will be effectuated, to the extent applicable, in accordance with Regulation §1.415(c)-1 and the Employee Plans Compliance Resolution System.

(d) Contribution Timing. A contribution will be deemed made for a Limitation Year if all conditions necessary for a Participant to earn the contribution are satisfied in such Limitation Year and if the plan sponsor actually makes the contribution not later than October 15 of the year following such Limitation Year.

(e) Aggregation of Plans. For the purpose of this Section, all Code §403(b) defined contribution plans of, and all 415 Compensation from, any Plan Sponsor, or its 415 Affiliates aggregated under Code §415(k)(4), whether or not such plans are terminated, are to be aggregated and/or treated as one defined contribution plan. Defined contribution plans other than those qualified under Code §403(b) are separately limited under Code §415(c) and Regulation §1.415-8(d).

(f) Supplements One and Two. Since Contributions to Supplements One and Two have been frozen, the limitations of Code §415 are not expected to limit any benefits payable thereunder. Nevertheless, if required by Code §415(b) and/or §415(c) and/or applicable Regulations, contributions made under, or benefits payable under, Supplements One and Two will be limited as so provided.

5.2 Limit on Salary-Reduction Contributions.

(a) Limitation. The total amount of Before-Tax Contributions and Roth Contributions made on behalf of any Participant under this Plan, plus the total amount of pre-tax and Roth-type elective deferrals made on behalf of the Participant under any other plan described in Code §§401(k), 402(h)(1)(B), and 402A in any calendar year will not exceed an amount equal to the limit of paragraph (a)(i) below, as increased, if at all, by the provisions of paragraphs (a)(ii) and (iii) below.

(i) Standard Limit. The limit of this paragraph (a)(i) is:

(A) $18,000 in Plan Year 2017; or

(B) $18,000 or such greater amount as may be provided under Code §402(g) for Plan Years after 2017.

Each Participant is responsible to alert the Administrator or the Plan Sponsor of any other contributions that might have been made on his or her behalf under any other such plans during such calendar year.

- 80 -

(ii) 15-Year Catch-Up Contributions. A Participant who qualifies under Section 4.2(b), or Code §402(g)(7) or Regulations thereunder, may make 15-Year Catch-Up Contributions to the extent provided in Section 4.2(b), as an increase to the maximum limit of paragraph (a)(i) above.

(iii) Age 50 Catch-Up Contributions. A Participant who:

(1) qualifies under subsection (c) below, or Code §414(v) or Regulations related thereto; and

(2) has made all 15-Year Catch-Up Contributions for which he or she is eligible under paragraph (a)(ii) above

may make Age 50 Catch-Up Contributions to the extent provided in Section 4.2(c), notwithstanding the limits of paragraph (a)(i) above, up to the lesser of:

(A) Either:

(I) $6,000 in 2017; or

(II) $6,000 as adjusted for changes in the cost of living as provided in Code §414(v)(2)(C) for years following 2017; or

(B) The Participant’s 415 Compensation for the Plan Year, minus the sum of his or her contributions made under paragraphs (a)(i) and (ii) above.

(b) Notification and Distribution of Excess. In the case of a Participant who participates in another plan or plans or in cases where the Administrator is not aware that the Participant has exceeded the limits of subsection (a) above, if the Participant gives a Notice to the Administrator not later than April 15 of the following calendar year (or such earlier date as the Administrator may establish) that the limitation of subsection (a) above has been exceeded for any given calendar year, and specifies the amount of Before-Tax Contributions or Roth Contributions that may be recharacterized as Age 50 Catch-Up Contributions (in the case of a Participant eligible under Section 4.2(c)) or that must be distributed from the Plan to satisfy such limitation, such amount will be so recharacterized (up to the limits of Sections 4.2(c) and subsection (a)) or distributed to the Participant notwithstanding any other limitation on distributions contained in this Plan. The amount required to be distributed pursuant to this Section will be reduced by any amount previously distributed to satisfy Section 5.1 or 5.3, and, effective January 1, 2007, will not include Gap Period earnings or losses.

(c) Distributions During Year. If the Notice is received or deemed received within the calendar year for which the limitation is exceeded, the required distribution will, if possible, be made out of Before-Tax Contributions or Roth Contributions

- 81 -

already received and before the end of such year, and will be designated as a distribution of excess Before-Tax Contributions or Roth Contributions.

(d) Distributions After End of Year. If the Notice is received or deemed received after the end of the calendar year, or the required distribution cannot be accomplished before the end of the calendar year, the required distribution will be made not later than April 15 of the following calendar year and will include the income attributable to such distribution (as determined under subsection (e) below), but, effective January 1, 2007, will not include Gap Period earnings or losses. The total principal amount distributed will be included in the Participant’s taxable income for the calendar year in which the excess occurred and the earnings will be taxable in the year distributed. If the required distribution cannot be made until after April 15 of the following calendar year, it will be handled in accordance with the applicable Regulations.

(e) Allocation of Income. For the purpose of subsection (d) above, the Administrator may use any reasonable method of allocating income for any year, provided that such method does not violate Code §401(a)(4) (as applicable), is applied consistently to all excess distributions and Participants for the year, and is the method used to allocate income to Accounts generally.

5.3 Annual Additions for Disabled Persons. Effective January 1, 2008, Annual Additions may be made with respect to a Disabled Participant or a Disabled Terminated Participant only to the extent (if any) that such Annual Additions may be made in accordance with:

(a) Code §414(e)(3)(E)(ii), which permits Contributions:

(i) for up to five years after a Participant’s Termination of Employment; or

(ii) indefinitely after a Participant’s Termination of Employment if such Participant was Disabled (or disabled within the meaning of Code §72(m)(7)) at the time of such Participant’s Termination of Employment;

but which does not specifically expand the Code §415(c) Annual Addition limit, although it may work with one of the following provisions to allow Annual Additions to be made;

(b) Code §415(c)(1), which permits Annual Additions to the extent of 415 Compensation received as provided in Section 5.1(a)(i);

(c) Code §415(c)(2)(C) (dealing with forfeitures);

(d) Code §415(c)(3)(C), which permits continued Annual Additions to the Account of a Participant who is:

(i) disabled within the meaning of Code §22(e)(3) (which is a comparable definition to the Social Security disability definition); and

- 82 -

(ii) a Non-HCE;

to the extent of the annual rate of such Participant’s Compensation on the day before such disability;

(e) Code §415(c)(7)(A), which permits an increase in the Annual Addition limit as provided in Section 5.1(a)(iii) (relating to a $10,000 minimum Annual Addition);

(f) Code §415(c)(7)(C), which permits an increase in the Annual Addition limit as provided in Section 5.1(a)(ii) (relating to a $3,000 missionary Annual Addition); and/or

(g) any other applicable provisions of the Code and Regulations.

If Annual Additions made with respect to a Disabled Participant or a Disabled Terminated Participant exceed the above limits, the resulting excess Annual Additions will be corrected as provided in Section 5.1(c).

5.4 ACP Test for Non-QCCOs.

(a) ACP Test. Each Non-QCCO is responsible for passing the ACP Test for each Plan Year that it has made any ACP Contributions with respect to such Plan Year (the Determination Year) on behalf of any of its Participants who are HCEs. The ACP Test must be passed as of the end of each Determination Year, either initially or after correcting for any excess Contributions as provided in subsection (c) below. A Non-QCCO’s HCEs will be limited in each Determination Year to the ACP Contributions permitted under the ACP Test.

(b) Correction of Excess ACP Contributions. Each Non-QCCO may attempt to pass the ACP Test during or following the end of the Determination Year by means of any of the adjustments in subsection (c) below. Whether or not such Non-QCCO makes such adjustments, the Administrator will not have any liability to such Non-QCCO nor to any Participant who is an HCE for such adjustment or failure to adjust or for the passage of the ACP Test.

(c) Correction of Excess ACP Contributions by Non-QCCO. If the ACP Test is failed or expected to be failed for any Determination Year, the Non-QCCO may pass the ACP Test by any one or more of the following means:

(i) during the Determination Year:

(A) reducing the amount of further; and/or

(B) halting further

ACP Contributions made for each such Participant who is an HCE;

- 83 -

(ii) within one year after the close of the Determination Year, refunding to each such Participant who is an HCE, as provided in subsection (d) below, any excess ACP Contributions made for such Participant in accordance with subsection (d) below; and/or

(iii) during, or within one year after the close of, the Determination Year (or such other deadline as may be provided in Regulations) making QNECs to one or more Participants who are Non-HCEs in accordance with subsection (l) below to the extent necessary to pass the ACP Test.

(d) Determination of Excess ACP Contributions. If it is necessary, after taking into account any QNECs made under paragraph (c)(iii) above, either:

(i) to reduce or halt, pursuant to paragraph (c)(i)(A) and/or (B) above, the ACP Contributions of Participants who are HCEs; or

(ii) to refund their excess Contributions pursuant to paragraph (c)(ii) above,

then the ACP Contributions of the HCE or HCEs whose Actual Contribution Amount is the highest will first be reduced until their Actual Contribution Amount is equal to the greater of:

(1) the Actual Contribution Amount that will cause the Highly Compensated ACP not to exceed the Maximum ACP; or

(2) the Actual Contribution Amount of the HCE or HCEs who have the second highest Actual Contribution Amount.

The same procedure will then be applied, if necessary, to the ACP Contributions of the HCEs who have the second highest Actual Contribution Amount (including those whose Actual Contribution Amount was reduced in the prior step), and so on until the Highly Compensated ACP no longer exceeds the Maximum ACP or as otherwise permitted or required under Regulations.

(e) Refund of Excess ACP Contributions and Earnings and Losses. After taking into account any QNECs made under paragraph (c)(iii) above, any excess ACP Contributions (as determined under subsection (d) above) of each Participant who is an HCE will be distributed to such Participant. Each such distribution will include the share of net earnings or losses allocable to such distribution (including any arising during any Gap Period), determined in accordance with subsection (f) or (g) below. All references to excess ACP Contributions in the Plan will be deemed to include such allocated earnings or losses. Notwithstanding the foregoing, effective January 1, 2008 in accordance with Regulation §1.401(k)-2(b)(2)(iv) and other applicable Regulations, Gap Period earnings or losses will not be distributed. Notwithstanding the refund of any excess ACP Contributions, they will nevertheless be treated as Annual Additions.

- 84 -

(f) Allocation of Earnings and Losses. For the purpose of subsection (e) above, the amount of earnings or losses allocated to the distribution of excess ACP Contributions will be equal to the net earnings or losses realized on the aggregate of the Participant’s After-Tax Contribution Account, Conditional Contribution Account, and Matching Contribution Account for the Determination Year and any Gap Period thereafter, multiplied by a fraction, the numerator of which is the amount of such distribution and the denominator of which is the sum of:

(i) the Participant’s After-Tax Contribution Account Balance as of the beginning of the Determination Year;

(ii) the Participant’s Conditional Contribution Account Balance as of the beginning of the Determination Year;

(iii) the Participant’s Matching Contribution Account Balance as of the beginning of the Determination Year; and

(iv) the amount of ACP Contributions made during the Determination Year and any Gap Period thereafter.

Notwithstanding the foregoing, the Plan Sponsor or the Administrator may determine Gap Period earnings or losses as follows:

(1) Determine the number of months in the Gap Period, including the month in which the distribution under subsection (e) above is made if (and only if) such distribution is made after the 15th of such month; then

(2) Multiply the number of months computed in paragraph (f)(1) above by 10% of the earnings or losses that accrued during the Determination Year.

Unless the Plan Sponsor or the Administrator otherwise elects under subsection (g) below in accordance with Regulations, the computation and allocation of earnings and losses will be determined in accordance with this subsection (f), as modified by paragraphs (f)(1) and (2) above. Notwithstanding the foregoing, effective January 1, 2008 in accordance with Regulation §1.401(k)-2(b)(2)(iv) and other applicable Regulations, Gap Period earnings or losses will not be distributed.

(g) Use of Other Method. Notwithstanding subsection (f) above, the Plan Sponsor or the Administrator may use any other reasonable method of allocating earnings or losses for any Determination Year, provided that such method:

(i) does not violate Code §403(b)(12) or Regulations thereunder, including making distributions under subsection (e) above not later than seven days after the calculation of Gap Period earnings or losses (without including earnings or losses for such up-to-seven-day period);

- 85 -

(ii) is applied consistently to all excess distributions and Participants for the year; and

(iii) is the method used to allocate earnings or losses to Accounts generally.

Notwithstanding the foregoing, effective January 1, 2008 in accordance with Regulation §1.401(k)-2(b)(2)(iv) and other applicable Regulations, Gap Period earnings or losses will not be distributed.

(h) Order of Distribution. If a distribution of excess ACP Contributions must be made to a Participant who has made After-Tax Contributions and/or received Conditional or Matching Contributions, then such distribution will be made from such Participant’s Account in the following order, until such point as all excess ACP Contributions have been distributed:

(i) First, any After-Tax Contributions that exceeded the amount that was eligible to earn Conditional or Matching Contributions (for this purpose, Conditional and Matching Contributions will be deemed to have been contributed first on account of Before-Tax Contributions, next on account of Roth Contributions, and finally on account of After-Tax Contributions);

(ii) Second, a pro rata division between After-Tax Contributions and the Conditional or Matching Contributions that relate thereto; and

(iii) Finally, if Conditional or Matching Contributions remain after all After-Tax Contributions have been distributed, then Conditional Contributions, if any, followed by any Matching Contributions.

(i) Forfeiture of Non-Vested Contributions. If a distribution of an excess Conditional or Matching Contribution must be made to a Participant under this Section at a time when the Participant is not fully Vested in his Conditional Contribution Account and/or Matching Contribution Account, then any such non-Vested excess Conditional or Matching Contribution will become a Forfeiture to the Plan Sponsor’s Forfeiture Account. If the Conditional Contribution Account or Matching Contribution Account is partially Vested and partially not, then the distribution will be deemed to come proportionally from the Vested and non-Vested portions of the Conditional Contribution Account and/or Matching Contribution Account. The Vested portion will be refunded to the Participant, and the non-Vested portion will become a Forfeiture.

(j) Timing of Corrective Distributions. All corrective distributions will be made, notwithstanding any other restrictions on distributions in the Plan, not later than 2½ months following the end of the Determination Year, if possible, and in any event not later than the last day of the Plan Year following the Determination Year.

(k) Aggregation of Plans. If this Plan must be aggregated with one or more other plans maintained by the Plan Sponsor or one or more Affiliates for one or more of

- 86 -

such plans to satisfy the requirements of Code §§401(m), 401(a)(4), or 410(b), then the ACP Test will be run by determining the Non-Highly Compensated ACP and the Highly Compensated ACP as though all such plans were a single plan. Any adjustments to the Non-Highly Compensated ACP for the prior year will be made in accordance with IRS Notice 98-1 and any superseding guidance from the IRS. Plans may be aggregated to satisfy Code §401(m) only if they have the same plan year and use the same ACP testing method.

(l) QNEC Limits. A Non-QCCO may allocate QNECs to one or more Participants who are Non-HCEs, but such QNECs will be disregarded in performing the ACP Test to the extent that they exceed the product of each such Non-HCE’s Compensation and the greater of:

(i) 5%; or

(ii) 2 times the Non-QCCO’s Representative Contribution Rate.

5.5 Other Limitations for Non-QCCOs. Non-QCCOs will be limited each Plan Year with respect to:

(a) the Plan Sponsor Contributions permitted to the Plan for certain Participants (including HCEs);

(b) the amount of Compensation that may be taken into consideration under the Plan for certain Participants; and

(c) Employees who may participate in the Plan,

to the extent, if any, required by Code §403(b)(12) and the Regulations thereunder and the provisions of Code §§401(a)(4), 401(a)(5), 401(a)(17), 410(b), and any other applicable requirements of the Code or Regulations. Each Non-QCCO is responsible for complying with such limits and requirements. The Administrator may supplement this provision with more detailed procedures and guidance for Non-QCCOs.

5.6 Purpose of Limitations; Authority of Administrator. The limitations of this Section 5 are intended to comply with the requirements of Code §§401(a)(4), 401(a)(17), 401(m), 410(b), 415, 402(g), 404(a)(3), 414(v), and any other applicable Code provisions and the Regulations issued thereunder, and will be construed accordingly. To the extent that such Regulations provide for any elections or alternative methods of compliance not specifically addressed in this Section 5, the Administrator or the Plan Sponsor will have the authority to make or revoke such election or use such alternative method of compliance unless such election or alternative method of compliance by its terms requires an amendment to the Plan.

- 87 -

SECTION 6 - INVESTMENTS AND PLAN ACCOUNTING

6.1 Accounts. The Administrator will establish and maintain one or more Accounts, corresponding to the appropriate Contributions, on behalf of each Accountholder who is allocated any of such Contributions under the Plan or who succeeds to any such amounts. Such Accounts (or accounts) may include the following:

(a) Plan Sponsor Contribution Accounts, holding Plan Sponsor Contributions, may include the following:

(i) Non-Matching Contribution Account;

(ii) Conditional Contribution Account;

(iii) Matching Contribution Account;

(iv) Discretionary Contribution Account;

(v) QNEC Account; and

(vi) any other Plan Sponsor Contribution Accounts the Administrator may choose to establish.

An Accountholder’s Sponsor Account Balances relating to each separate Plan Sponsor will also be separately accounted for.

(b) Participant Contribution Accounts may include the following:

(i) Before-Tax Contribution Account;

(ii) After-Tax Contribution Account;

(iii) Roth Contribution Account;

(iv) QVEC Account;

(v) Rollover Account; and

(vi) any other Participant Contribution Accounts the Administrator may choose to establish.

(c) Special purpose Accounts, which may, but need not, hold some or all of the Account Balances in other Accounts, including Plan Sponsor Contribution Accounts and/or Participant Contribution Accounts, and may include the following:

(i) Forfeiture Account;

(ii) 415 Suspense Account;

- 88 -

(iii) Forfeiture Suspense Account; and

(iv) any other special purpose Accounts the Administrator may choose to establish.

Each Account represents the aggregate amount of Contributions attributable to that Account, adjusted for any applicable Debits and Credits, all in accordance with generally applicable accounting rules and procedures established by the Administrator from time to time. The maintenance of separate Account Balances will not require physical segregation of plan assets with respect to any Account. Accounts may overlap each other, such that given assets may be simultaneously classified under more than one applicable Account type. The Accounts maintained hereunder represent the Accountholders’ interests in the Plan and Trust and are intended as bookkeeping records to assist the Administrator in the administration of the Plan. The Administrator may create, aggregate, disaggregate, or discontinue any Account or Accounts, as best serves the Administrator’s convenience, provided that each Accountholder’s Account Balance is accounted for as long as such an Account Balance is due under the terms of the Plan. Any reference in the Plan to an Accountholder’s “Account(s)” or “Account Balance(s)” refers to all amounts credited to the Accounts maintained in the Accountholder’s name under the Plan unless the context otherwise requires.

6.2 Investment Fund Accounting. To the extent the Trust is divided into separate investment funds, including funds established pursuant to Section 6.3, the undivided interest of each Accountholder’s Account in each such fund will be determined in accordance with the accounting procedures, if any, specified in the trust agreement, investment management agreement, insurance contract, custodian agreement, or other document under which such fund is maintained. To the extent not inconsistent with such procedures, the Administrator may also use any other reasonable accounting procedures to track the investment of each Accountholder’s assets under the Plan.

6.3 Investment of Accounts.

(a) Self-Direction. Subject to subsection (b) below, Accountholders have the right to direct the investment of their Accounts among any one or combination of such investment funds as are offered for such purpose by the Administrator from time to time. The Administrator may subject this right to reasonable rules and limitations, including the obligation to direct account balances from multiple self-directed plans in the same way, as though they were one pooled account balance. If the Administrator offers LifeStage Investment Management, Accountholders may also elect LifeStage Investment Management to direct their Account Balances in accordance with rules established by the Administrator.

(b) Default Investments. The Administrator will establish a written procedure to govern an Accountholder’s investments under the Plan, including specifying:

(i) a default investment fund or funds; or

- 89 -

(ii) that LifeStage Investment Management will invest the Accountholder’s Account Balance

when the Accountholder elects not to direct the investment of his or her Account Balance or omits to direct it, as permitted under subsection (a) above.

(c) Investment Assistance. The Administrator may (but need not) offer investment assistance to some or all Accountholders that may take the form of professional advice by individuals, a computerized program (including LifeStage Investment Management), or some other means that either advises Accountholders or directs the investment of their Accounts. Such investment assistance may be offered on an opt in, opt out, or default basis, although Participants will retain the right of investment self-direction specified in subsection (a) above. If the Administrator does offer such investment assistance, neither the Administrator, nor the Trustee, nor any Plan Sponsor, nor any Salary-Paying Unit will be liable for the results of any assistance provided by such entity offering investment assistance. Each Accountholder’s sole remedy will be to exercise his or her right to direct the investment of his or her own Accounts as provided in subsection (a) above.

(d) Direction by Administrator. In cases where an Accountholder is incapacitated in any way so as to be unable to manage his or her financial affairs (and the Administrator is given Notice of such fact), or in any other appropriate circumstance, the Administrator may, but need not, direct the investment of such Accountholder’s Account, either as provided under subsection (b) above or in any other fiduciarily appropriate manner. The Administrator will not be liable to any person if it does not exercise its authority under this subsection (d) or allows the default of subsection (b) above to become effective.

- 90 -

SECTION 7 - VESTING AND FORFEITURE

7.1 Fully Vested Accounts. The following Accounts belonging to the following Accountholders are always fully Vested to the extent funded, and will not be forfeited for any reason, except as provided in Section 7.5:

(a) All Participant Contribution Accounts;

(b) The Sponsor Account Balance contributed to a Bishop’s Account or to a Clergyperson’s Account while he or she was Appointed (or, in the case of a Bishop, assigned) to:

(i) a Local Church;

(ii) a Conference;

(iii) a Conference-Responsible Unit; or

(iv) a Conference-Elective Entity,

except for Plan Sponsor Contributions, and Credits and Debits thereon, made to:

(1) a Clergyperson who is no longer an Active Conference Member; or

(2) a Bishop who is Retired

when he or she receives such Contributions;

(c) Any Plan Sponsor Contribution Account with respect to which the Plan Sponsor has elected 100% immediate Vesting in accordance with Section 7.3(a) and the Plan Sponsor’s Adoption Agreement;

(d) In the case of a Participant:

(i) who was an Employee of a CPBF plan sponsor on the day before the Effective Date;

(ii) whose CPBF plan sponsor becomes a Plan Sponsor of the Plan on or after the Effective Date making Plan Sponsor Contributions; and

(iii) who becomes a Participant in the Plan for such Plan Sponsor on or after the Effective Date and without having incurred a Break in Service from the Effective Date to the date of becoming such a Participant;

such Participant’s Sponsor Account Balances with such Plan Sponsor under the Plan, but (notwithstanding the foregoing) excluding any Plan Sponsor Contributions, adjusted for any applicable Debits or Credits attributable to such Contributions, made after the earlier of the date that such Participant:

- 91 -

(1) incurs a Break in Service with such Plan Sponsor; or

(2) changes job classifications with such Plan Sponsor such that he or she is no longer covered by the same Adoption Agreement executed or accepted by such Plan Sponsor;

(e) An Accountholder’s Final CPBF Account Balance; and

(f) An Accountholder’s Final PIP Account Balance.

7.2 Forfeitable Account Balances.

(a) Forfeitures. To the extent not described in Section 7.1, a Plan Sponsor Contribution Account belonging to a Participant is fully or partially Vested (to the extent such Account is funded) only after the Participant renders the necessary Vesting Service to Vest as specified in Section 7.3. Such Vesting Service must be rendered consecutively as further described in this Section 7. Any amounts in such Account that are not Vested are such Participant’s Forfeitable Account Balance, which will be treated as assets of a separate 403(c) Contract until such Participant either Vests in his or her Forfeitable Account Balance or incurs a Break in Service. If such a Participant:

(i) Vests in his or her Forfeitable Account Balance, or any portion thereof, such amounts will be reallocated to the main Code §403(b)(9) contract to appropriate Accounts as Vested amounts; or

(ii) incurs a Break in Service with such Plan Sponsor, then any of his or her Forfeitable Account Balances that are not Vested as of such Break in Service will thereupon become a Forfeiture.

(b) Treatment of Forfeitures. Forfeitures under subsection (a) above will initially be transferred to a Forfeiture Suspense Account and later either be restored to the Participant’s Account or be transferred to a Forfeiture Account as follows.

(i) Forfeiture Suspense Account. The Forfeiture Suspense Account, treated as part of a separate 403(c) Contract, receives any Forfeitures attributable to such Participant from the Participant’s Forfeitable Account Balance that are not Vested when the Participant incurs a Break in Service with the Plan Sponsor that made the Plan Sponsor Contributions to the Forfeitable Account Balance. The Forfeiture remains in the Forfeiture Suspense Account until the earlier of the date on which the Participant:

(A) incurs a One-Year Break in Service; or

(B) is Reemployed by such Plan Sponsor or Salary-Paying Unit or any of their Affiliates.

- 92 -

The Administrator may invest the Forfeiture Suspense Account or adjust it for Credits and Debits in accordance with rules established from time to time by the Administrator.

(ii) Reemployed Participant. If the Participant is Reemployed by that Plan Sponsor or any of its Affiliates before he or she incurs a One-Year Break in Service, then the Account Balance in the Forfeiture Suspense Account will be restored to the Participant’s Sponsor Account Balance under the Plan as a Forfeitable Account Balance (still treated as part of a separate 403(c) Contract until full Vesting), and such amount will not be a Forfeiture.

(iii) Forfeiture Account. If the Participant incurs a One-Year Break in Service before he or she is Reemployed by that Plan Sponsor, then the Account Balance in the Forfeiture Suspense Account will be transferred to the Plan Sponsor’s Forfeiture Account. Such Forfeiture Account will be treated as part of a separate 403(c) Contract until re-contributed or reallocated to a Vested Account. Forfeitures forfeited to a Forfeiture Account in the name of a Plan Sponsor will be used to help fund such Plan Sponsor’s future Contributions as soon as practicable after being credited to the Forfeiture Account. Notwithstanding the foregoing, Forfeitures may not be used to make Roth Contributions. Pending being used to fund such Plan Sponsor’s future Contributions, Forfeitures held in a Forfeiture Account will be invested as provided in rules adopted from time to time by the Administrator. If a Plan Sponsor terminates its sponsorship of the Plan as provided in Section 11.2, any amounts held in its Forfeiture Account that are not needed to cover Contributions will be treated as Contributions made by mistake of fact and handled as provided in Section 12.3(b).

(c) Other Forfeitures. Even after the necessary Vesting Service has been rendered to fully Vest a Forfeitable Account Balance, such Account Balance and any Vested Account may be forfeited as provided in Section 7.5. Such Forfeitures will be Credited or used as provided in Section 7.5.

7.3 Time of Vesting.

(a) Vesting Schedules. A Plan Sponsor may specify any one of the following Vesting schedules for the Forfeitable Account Balances specified in Section 7.2 and in the Plan Sponsor’s Adoption Agreement.

(i) Immediate Vesting. 100% immediate Vesting;

(ii) Cliff Vesting. After a Participant has rendered a specified number of Months of Service (between 1 and 36, as elected by the Plan Sponsor in its Adoption Agreement) as determined under Section 7.4, the Participant’s Forfeitable Account Balances are fully Vested;

- 93 -

(iii) Graded Vesting. A Participant’s Forfeitable Account Balances attributable to a Plan Sponsor will become Vested in 20% increments after the Participant renders the Months of Service with that Plan Sponsor specified below as determined under Section 7.4:

(A) 20% Vested after 12 Months of Service for such Plan Sponsor;

(B) 40% Vested after 24 Months of Service for such Plan Sponsor;

(C) 60% Vested after 36 Months of Service for such Plan Sponsor;

(D) 80% Vested after 48 Months of Service for such Plan Sponsor;

(E) 100% Vested after 60 Months of Service for such Plan Sponsor;

(b) Adoption Agreement. Only one Vesting schedule may be elected per Adoption Agreement. A Plan Sponsor may execute more than one Adoption Agreement to cover different mutually exclusive classes of Employees and may elect different Vesting schedules in each such Adoption Agreement, subject to any applicable:

(i) limitations of the Plan;

(ii) rules of the Administrator; and

(iii) nondiscrimination provisions under Code §403(b)(12).

(c) Effective Date of Vesting Schedule. Any Vesting schedule adopted by a Plan Sponsor with respect to Plan Sponsor Contributions will be effective as specified in the Adoption Agreement for:

(i) all varieties of Plan Sponsor Contributions specified in the Adoption Agreement; and

(ii) Plan Sponsor Contributions that are made on and after the effective date specified by the Plan Sponsor in the Adoption Agreement (which date may be before the date of the Adoption Agreement), but subject to the limits of subsection (d) below and any other limits of the Plan.

If a Plan Sponsor changes a Vesting schedule, it will be effective on the effective date of the schedule for an Active Participant (and on the return to employment of a Participant on a Leave of Absence) only if it is a more favorable schedule for that Participant. If it is more favorable, all of the Participant’s Plan Sponsor Contributions of all varieties (under Section 4.1(a)) will be subject to the new schedule, whether such Contributions were made before or after the effective date (or return to employment). If the new Vesting schedule is not more favorable, the existing Vesting schedule will continue to be applicable to such Participant’s Plan Sponsor Contributions, whether such Contributions were made before or after the effective date (although the Vesting schedule will nevertheless change on its

- 94 -

effective date for other Participants who are not similarly affected). Once a Participant incurs a One-Year Break in Service with a Plan Sponsor, if he or she is later Reemployed by that Plan Sponsor, any future Plan Sponsor Contributions will be subject to the then-current Vesting schedule on the Plan Sponsor’s Adoption Agreement, notwithstanding any former Vesting schedule that previously applied to that Participant.

(d) Full Vesting Events. An Active Participant with, or a Participant on a Leave of Absence from, a Plan Sponsor will be 100% Vested in all of his or her Sponsor Account Balances related to such Plan Sponsor upon the first to occur of the following:

(i) The Participant’s Normal Retirement Date, when attained before he or she:

(A) incurs a Termination of Employment with such Plan Sponsor;

(B) incurs a Termination of Conference Relationship; or

(C) Retires with respect to such Plan Sponsor;

(ii) The date the Participant is:

(A) disabled as determined by the Social Security Administration; or

(B) LTD Plan Disabled; or

(iii) The date the Participant dies before incurring a:

(A) Termination of Employment with such Plan Sponsor; or

(B) Termination of Conference Relationship.

7.4 Vesting Service. An Employee’s or Participant's Vesting Service will be computed as follows:

(a) Computation Period. An Employee’s Vesting Service for a Plan Sponsor will be determined as described in subsection (b) below with one-month computation periods beginning on:

(i) the first day of the month in which the Employee begins to perform Service for a Plan Sponsor (even if such day is before the Effective Date); and

(ii) the first day of each calendar month thereafter until the Employee incurs a Termination of Employment.

- 95 -

(b) Determination of Vesting Service. Subject to subsection (c) below, an Employee will receive one month of Vesting Service for each monthly computation period specified in subsection (a) above during which he or she either:

(i) is scheduled (or expected):

(A) to work at least one Hour of Paid Service for his or her Plan Sponsor; or

(B) to be on a Leave of Absence from his or her Plan Sponsor, provided that he or she had:

(I) at least one Hour of Paid Service before the Leave of Absence; and

(II) at least one Hour of Paid Service after such Leave of Absence or Retired from the Leave of Absence; or

(ii) actually:

(A) does work at least one Hour of Paid Service for his or her Plan Sponsor; or

(B) is on a Leave of Absence from his or her Plan Sponsor, provided that he or she had:

(I) at least one Hour of Paid Service before the Leave of Absence; and

(II) at least one Hour of Paid Service after such Leave of Absence or Retired from the Leave of Absence.

Employees who are scheduled (as of the start of a one month computation period) to work for that month will earn Vesting Service credit even if they do not actually work an Hour of Paid Service during the scheduled month.

Notwithstanding anything in the Plan to the contrary, a Plan Sponsor may elect on its Adoption Agreement to treat periods of prior employment with an entity acquired by the Plan Sponsor as counting towards an Employee’s Vesting Service under this subsection (b).

(c) Break in Service. An Employee’s Vesting Service with a Plan Sponsor must be rendered consecutively. All Vesting Service for a Plan Sponsor will be deemed to be consecutive so long as the Employee has not incurred a One-Year Break in Service with such Plan Sponsor. If an Employee incurs a Break in Service with such Plan Sponsor that is less than a One-Year Break in Service, such Employee will not earn Vesting Service for the period of the Break in Service, but such

- 96 -

Break in Service will not interrupt the consecutiveness of Vesting Service rendered for such Plan Sponsor before and after such Break in Service.

7.5 Forfeitures of Vested Accounts. Notwithstanding Sections 7.1 through 7.4, an Accountholder may forfeit an otherwise Vested Account in the following circumstances:

(a) Missing Accountholder. The Accounts of Accountholders who cannot be located will be handled as described in Section 8.6.

(b) Uncashed Check. Any Accountholder who has been issued a check for benefits due but who does not return or cash the check within a reasonable period established by the Administrator, after such reasonable Notice (or in the case of very small benefit amounts, no Notice) as the Administrator may determine, will forfeit such benefits. Such Forfeitures will be used by the Administrator to defray the administrative expenses of the Plan. Uncashed checks returned to the Administrator because the payee is missing or for other reasons are not covered by this subsection.

(c) Relinquished Benefits. If a Participant Relinquishes a benefit, it is forfeited. The resulting Forfeiture will be used by the Administrator to defray the administrative expenses of the Plan.

(d) Ineligible Person. Benefits credited to an ineligible person are unearned; therefore, they cannot be forfeited because they were never owed originally. If, notwithstanding this, a person who is determined under the Plan to be ineligible claims an interest (or such person’s successor claims such an interest) in benefits that were erroneously credited under the Plan to such person, such benefits will not be due to such person (or successor) as benefits under the Plan. Any amounts credited erroneously will be handled as described in Section 3.7.

(e) Election Not to Participate. Employees eligible for the Plan who elect not to participate will be treated as described in Section 3.8.

(f) Contributions in Excess of Limits. Contributions and earnings thereon may be forfeited in accordance with the terms of Section 5.

- 97 -

SECTION 8 - PAYMENT OF BENEFITS

8.1 Methods of Benefit Payment. The following provisions are subject to Section 8.4 (relating to required minimum distributions).

(a) Normal Form of Payment. The normal form of payment of an Accountholder’s benefit is a lump-sum distribution equal to the Accountholder’s total Vested Account Balance or Sponsor Account Balance in the Plan valued as of the Accounting Date coincident with or immediately before such distribution, and, except as otherwise provided herein, all benefits will be paid in such form. An Accountholder who is entitled to a distribution under the Plan may elect the normal form of distribution on an Application for Benefits.

(b) Partial Distributions. An Accountholder may elect on an Application for Benefits one or more partial lump-sum distributions of his or her Vested Account Balance under the Plan, in accordance with rules established by the Administrator.

(c) Payment in Cash Installments. In accordance with rules established by the Administrator, an Accountholder may elect on an Application for Benefits to receive his or her Vested Account Balance or Sponsor Account Balance in Cash Installments. Cash Installments will be made in a series of periodic distributions, payable annually or at more frequent intervals, determined in accordance with the provisions set forth below and rules issued by the Administrator in one of the following forms:

(i) payments in a specific periodic dollar amount selected by the Accountholder.

(ii) payments for a specific period of time selected by the Accountholder and computed based on the Accountholder’s Vested Account Balance or Sponsor Account Balance at the time the distribution is selected. But changing Vested Account Balance or Sponsor Account Balance levels may cause the period over which the periodic distributions are made to be shortened if the Vested Account Balance or Sponsor Account Balance is completely distributed before the end of the selected period. If the Vested Account Balance or Sponsor Account Balance is not exhausted over the period selected by the Accountholder, then such periodic distributions will end when the originally-selected period ends.

(iii) effective as of November 1, 2012, LifeStage Retirement Income, which is a series of periodic payments that will vary in amount over time, for a period of time intended to approximate the Accountholder’s life expectancy. There is, however, no assurance that the Accountholder’s Vested Account Balance or Sponsor Account Balance will not be exhausted before the Accountholder’s death or that there may not be some Vested Account Balance or Sponsor Account Balance left at the Accountholder’s death.

- 98 -

The periodic payments provided for above will continue until the Accountholder changes his or her distribution option, until the terms of the form of Cash Installments elected provide for an end of the periodic payments, or until the Accountholder’s entire Vested Account Balance or Sponsor Account Balance has been distributed, whichever first occurs. Until such time, Credits and Debits will continue to be allocated or charged to the Account in accordance with Section 6.

(d) Election Procedures. Wherever the Plan provides for an Accountholder to elect a form of distribution (including the right to defer receiving a distribution), the Administrator will provide a Notice enumerating and explaining the different forms of distribution. Such Notice will be provided not fewer than 30 nor more than 180 days before the scheduled commencement of such benefit, or within such other period as may be provided by any applicable provision of the Code. An Accountholder who has received such Notice may waive the 30-day period and elect to have his or her benefit distributed immediately.

8.2 Distributions. The following provisions are subject to Section 8.4 (relating to required minimum distributions).

(a) Small Account Balances. Except in the case of a Disabled Participant, a Disabled Terminated Participant, or, effective November 1, 2012, an Accountholder receiving Cash Installments, if a Distribution-Eligible Participant with respect to a Plan Sponsor has an Aggregate Account Balance at the time of distribution that does not exceed $5,000, then the entire amount of such Participant’s Sponsor Account Balance relating to such Plan Sponsor will be distributed in a lump sum to such Participant as soon as administratively feasible after such Participant first becomes a Distribution-Eligible Participant (subject to the limitations of subsection (g) below). Notwithstanding the foregoing, any amount in excess of $1,000 distributed from this Plan in accordance with this subsection (a) (including amounts from the Distribution-Eligible Participant’s Rollover Account) will be rolled over in accordance with Section 8.5(e) unless the Distribution-Eligible Participant:

(i) actively elects a distribution or a rollover to a specified plan or IRA;

(ii) has attained his or her Normal Retirement Date;

(iii) is an Alternate Payee; or

(iv) has attained his or her Required Beginning Date.

A Disabled Participant, a Disabled Terminated Participant, or, effective November 1, 2012, an Accountholder receiving Cash Installments must consent to such distribution, which will be made in accordance with subsection (d) below, or, in the case of an Accountholder receiving Cash Installments who consents, in accordance with the foregoing provisions of this subsection (a).

- 99 -

(b) Distribution at Retirement. A Participant with an Aggregate Account Balance that exceeds $5,000 who Retires with respect to a Plan Sponsor may elect to begin receiving the distribution of some or all of his or her Sponsor Account Balance with respect to such Plan Sponsor as soon as administratively feasible thereafter (subject to the limitations of Sections 8.1(d) and 8.2(g)) or at any later date. Until he or she elects to begin receiving such distribution, he or she will be deemed to have elected to postpone receiving his or her distribution under subsection (e) below. Such distribution will be made either in the normal form of payment provided in Section 8.1(a) or, if the Participant so elects, in any optional form of payment provided under Section 8.1.

(c) Distribution at Termination. A Distribution-Eligible Participant with respect to a Plan Sponsor who has an Aggregate Account Balance that exceeds $5,000 may elect to begin receiving the distribution of some or all of his or her Sponsor Account Balance related to such Plan Sponsor as soon as administratively feasible thereafter (subject to the limitations of Sections 8.1(d) and 8.2(g)) or at any later date. Until he or she elects to begin receiving such distribution, he or she will be deemed to have elected to postpone receiving such distribution until a date not later than the latest date determined under subsection (f) below. Such distribution will be made either in the normal form provided in Section 8.1(a) or, if the Participant so elects, in any optional form provided by Section 8.1. Notwithstanding the foregoing, a Terminated Participant with respect to any Plan Sponsor may elect a distribution of all or any portion of his or her Rollover Account under the Plan, at any time and in any form permitted under Section 8.1.

(d) Distribution at Disability. Subject to paragraphs (d)(i), (ii), and (iii) below, a Participant who is Disabled with respect to one or more Plan Sponsors may elect to begin receiving a distribution of some or all of his or her Sponsor Account Balance as soon as administratively feasible thereafter (subject to the limitations of Sections 8.1(d) and 8.2(g)) or at any later date. Until he or she elects to begin receiving such distribution, he or she will be deemed to have elected to postpone receiving a distribution of such Sponsor Account Balance under subsection (d) below until a later date when such Participant elects to begin receiving a distribution, but not later than the latest date determined under subsection (f) below. The foregoing is subject to the following:

(i) Such distribution will be made either in the normal form provided in Section 8.1(a) or, if the Participant so elects, in any optional form provided by Section 8.1;

(ii) In the case of a Participant’s Before-Tax Contribution Account or Roth Contribution Account, the Participant will be entitled to a distribution on account of disability only if he or she is Permanently Disabled; and

(iii) In the case of a Participant’s Sponsor Account Balance other than amounts in his or her Before-Tax Contribution Account or Roth Contribution

- 100 -

Account, the Participant will be entitled to a distribution on account of disability only if he or she is Disabled.

(e) Delayed Distribution. A Distribution-Eligible Participant with respect to a Plan Sponsor who has deferred the distribution of some or all of his or her Sponsor Account Balances under subsections (b), (c), or (d) above may elect to receive some or all of his or her remaining Sponsor Account Balances at any later time (subject to the limitations of Sections 8.1(e) and 8.2(g), but not later than the date specified in Section 8.2(f) below) in any optional form provided by Section 8.1.

(f) Latest Commencement Date. Notwithstanding any other provision of this Plan, the latest date upon which the distribution of a Participant’s Vested Account Balance under the Plan may begin is the Required Beginning Date. Periodic distributions, including mandatory partial lump sum distributions, will be required thereafter as provided in Section 8.4.

(g) Tax Notice. Before making any Eligible Rollover Distribution, the Administrator will furnish each Accountholder with a Notice that complies with Code §402(f) describing his or her right to a direct rollover of the distribution and the potential tax consequences of the distribution. Such Notice will be furnished not more than 180 days* nor fewer than 30 days before the Accountholder is entitled to receive such distribution, and no distribution will be made until 30 days after he or she has received such Notice unless he or she waives such 30 day period in writing in accordance with procedures established by the Administrator.

8.3 Payments After an Accountholder’s Death. The following provisions are subject to Section 8.4 (relating to required minimum distributions).

(a) Distribution on Death. Upon the death of an Accountholder, all amounts credited to such Accountholder’s Account will be distributed to his or her Beneficiary in accordance with Section 8.1, this Section 8.3, and any other applicable provisions of the Plan.

(b) Proof of Death. The Administrator may require such proper proof of death and such evidence of the right of any person to receive payment of the value of the Account of a deceased Accountholder as the Administrator may deem appropriate. The Administrator’s determination of which person will receive payment is conclusive.

(c) Beneficiary’s Election. A deceased Accountholder’s Beneficiary may elect to defer the receipt of some or all of his or her benefits or draw some or all of them:

(i) in any form under Section 8.1; and

(ii) at any time

* Before January 1, 2007, “90 days.”

- 101 -

that complies with Section 8.4.

8.4 Required Minimum Distributions. The provisions of Sections 8.1, 8.2, and 8.3 provide for various distributions at various times to various persons, but such Sections and any other inconsistent provisions of the Plan are subject to the provisions of this Section 8.4, which is intended to comply with the requirements of Code §401(a)(9), including specifically the minimum distribution incidental death benefit rule of Code §401(a)(9)(G), and the Regulations issued under Code §401(a)(9) (dealing with required minimum distributions and the Required Beginning Date), and will be construed accordingly. Such Code and Regulation provisions are hereby incorporated herein by this reference, and will control over any form of distribution, at any time, and to any person provided in this Plan that is inconsistent therewith. Distributions may be made more rapidly but not more slowly than the period or rate required under this Section. To the extent that such Regulations provide for any elections or alternative methods of compliance not specifically addressed in this Section, the Administrator will have the authority to make or revoke such election or use such alternative method of compliance.

(a) Time and Manner of Distribution.

(i) Required Beginning Date.

(A) The Participant’s entire interest in, effective January 1, 2007, any Sponsor Account Balance under the Plan:

(I) must be distributed to the Participant no later than the Participant's Required Beginning Date; or

(II) must begin to be distributed to the Participant no later than the Participant’s Required Beginning Date and must continue to be distributed to him or her (for so long as he or she lives or until his or her Vested Account Balance is exhausted) in accordance with subsection (b) below,

provided, however, that any such distribution may be taken from, effective January 1, 2007, any one or more Sponsor Account Balances or other Code §403(b) plans (except to the extent that the Participant is a beneficiary under such other plan(s) to the extent so provided in Regulations).

(B) The requirements of Code §401(a)(9) will be satisfied if the Participant elects a lump sum distribution from the Plan no later than the Participant’s Required Beginning Date and uses it to purchase an annuity contract from an insurance or commercial annuity company in accordance with Regulation §1.401(a)(9)-5, Q&A-1(e).

- 102 -

(ii) Death of Participant Before Distributions Begin. If the Participant dies before a distribution to the Participant begins, the Participant’s entire interest will be distributed no later than as follows:

(A) If the Participant’s surviving Spouse is the Participant’s sole Designated Beneficiary, then such Spouse may elect the Five-Year Distribution Option or may elect distributions over such Spouse’s Life Expectancy (using the single life table set forth in Regulation §1.401(a)(9)-9, Q&A-1) that begin to such Spouse no later than the later of:

(I) the calendar year immediately following the calendar year in which the Participant died; or

(II) the calendar year in which the Participant would have attained age 70½;

and that distribute the Participant’s entire interest no later than:

(III) over the period of such Spouse’s Life Expectancy (using the single life table), recalculated each Distribution Calendar Year using such Spouse’s birthday for such Distribution Calendar Year, starting with the Distribution Calendar Year following the Participant’s death and ending with the earlier of:

(1) the Distribution Calendar Year of such Spouse’s death; or

(2) the Distribution Calendar Year in which the last of the Participant’s Vested Account Balance is completely distributed.

(B) If payments are made to a surviving Spouse and such Spouse dies (as provided in paragraph (a)(ii)(A)(III)(1) above) before the Participant’s entire Vested Account Balance is distributed to such Spouse, then the remaining Vested Account Balance will be distributed to such Spouse’s Beneficiary no later than over the period of such Spouse’s remaining Life Expectancy (using the single life table), using the age of such Spouse in the year of his or her death, reduced by one year in each following Distribution Calendar Year.

(C) If the Participant’s surviving Spouse is not the Participant's sole Designated Beneficiary, then distributions will begin to the Designated Beneficiary:

- 103 -

(I) if the Designated Beneficiary timely elects the Lifetime Distribution Option (not available to Beneficiaries that are estates or trusts), by December 31 of the calendar year immediately following the calendar year in which the Participant died; or

(II) if the Designated Beneficiary does not timely elect the Lifetime Distribution Option (or if the Beneficiary is a trust or estate), by December 31 of the calendar year containing the fifth anniversary of the Participant’s death;

and the Participant’s entire interest will be distributed no later than:

(III) if the Designated Beneficiary timely elects the Lifetime Distribution Option, then over the Life Expectancy (using the single life table) of the Designated Beneficiary, using the age of the Designated Beneficiary in the year following the Participant’s death, reduced by one year in each following Distribution Calendar Year; or

(IV) if the Designated Beneficiary does not timely elect the Lifetime Distribution Option (or if the Beneficiary is a trust or estate), then according to the Five-Year Distribution Option.

If the Designated Beneficiary is more than one individual, the Life Expectancy of such Designated Beneficiary will be computed based on the Life Expectancy of the individual with the shortest Life Expectancy.

(D) If the Participant dies on or after the date distributions begin and there is no Designated Beneficiary as of September 30 of the year after the year of the Participant’s death, the minimum amount that will be distributed to the Default Beneficiary for each Distribution Calendar Year after the year of the Participant's death is the quotient obtained by dividing the Participant’s Valuation Account Balance by the Participant’s remaining Life Expectancy (using the single life table) calculated using the age of the Participant in the year of the Participant’s death, reduced by one year for each later year.

(E) If the Participant’s surviving Spouse is the Participant’s sole Designated Beneficiary and the surviving Spouse dies after the Participant but before distributions to the surviving Spouse begin, this paragraph (a)(ii), other than paragraph (a)(ii)(A), will apply as though the surviving Spouse were the Participant.

- 104 -

(iii) Forms of Distribution. Unless a Participant’s interest is distributed in the form of a single sum on or before the Required Beginning Date, as of the first Distribution Calendar Year, distributions will be made:

(A) in accordance with the Participant’s or Beneficiary’s election in accordance with Section 8.1, provided such election meets the requirements of this subsection (a); or

(B) if no election is made under paragraph (a)(iii)(A) above, then in accordance with subsections (b), (c), (d), or (e) below.

(b) Required Minimum Distributions During Participant's Lifetime.

(i) Amount of Required Minimum Distribution for Each Distribution Calendar Year. During a Participant’s lifetime, the minimum amount that will be distributed for each Distribution Calendar Year is the lesser of:

(A) the quotient obtained by dividing the Participant’s Valuation Account Balance by the distribution period in the uniform lifetime table set forth in Regulation §1.401(a)(9)-9, Q&A-2 using the Participant’s age as of the Participant’s birthday in the Distribution Calendar Year; or

(B) if:

(I) the Participant’s sole Designated Beneficiary for the Distribution Calendar Year is the Participant’s Spouse; and

(II) such Spouse is more than 10 years younger than the Participant,

then the quotient obtained by dividing the Participant’s Valuation Account Balance by the number in the joint and last survivor table set forth in Regulation §1.401(a)(9)-9, Q&A-3 using the Participant’s and Spouse’s attained ages as of the Participant’s and Spouse’s birthdays in the Distribution Calendar Year.

If paragraph (b)(i)(B) above does not apply to a given Participant, then paragraph (b)(i)(A) above will apply.

(ii) Lifetime Required Minimum Distributions Continue Through Year of Participant's Death. Required minimum distributions will be determined under this subsection (b) beginning with the first Distribution Calendar Year and up to and including the Distribution Calendar Year that includes the earlier of:

(A) the Participant’s date of death; or

- 105 -

(B) effective January 1, 2007, the date the Participant’s entire Vested Sponsor Account Balance is distributed.

(c) Required Minimum Distributions After Participant’s Death.

(i) Death on or After Date Distributions Begin.

(A) Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a Designated Beneficiary, the minimum amount that will be distributed for each Distribution Calendar Year after the year of the Participant’s death is the quotient obtained by dividing the Participant's Valuation Account Balance by the longer of the remaining Life Expectancy of the Participant or the remaining Life Expectancy of the Participant’s Designated Beneficiary, determined as follows:

(I) The Participant’s remaining Life Expectancy (using the single life table) is calculated using the age of the Participant in the year of the Participant’s death, with such Life Expectancy reduced by one year for each year after the Participant’s death.

(II) If the Participant’s surviving Spouse is the Participant’s sole Designated Beneficiary, the remaining Life Expectancy (using the single life table) of the surviving Spouse is calculated for each Distribution Calendar Year after the year of the Participant’s death using the surviving Spouse’s age as of the Spouse’s birthday in that year. For Distribution Calendar Years after the year of the surviving Spouse’s death, the remaining Life Expectancy (using the single life table) of the surviving Spouse is calculated using the age of the surviving Spouse as of the Spouse’s birthday in the calendar year of the Spouse's death, with such Life Expectancy reduced by one year for each later calendar year.

(III) If the Participant’s surviving Spouse is not the Participant’s sole Designated Beneficiary, the Designated Beneficiary’s remaining Life Expectancy (using the single life table) is calculated using the age of the Designated Beneficiary in the year following the year of the Participant’s death, reduced by one year for each later year. If the Designated Beneficiary is more than one individual, the Life Expectancy (using the single life table) of such Designated Beneficiary will be computed based on the Life Expectancy of the individual with the shortest Life Expectancy.

- 106 -

(B) No Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is no Designated Beneficiary as of September 30 of the year after the year of the Participant’s death, the minimum amount that will be distributed to the Default Beneficiary for each Distribution Calendar Year after the year of the Participant's death is the quotient obtained by dividing the Participant’s Valuation Account Balance by the Participant’s remaining Life Expectancy (using the single life table) calculated using the age of the Participant in the year of the Participant’s death, reduced by one year for each later year.

(ii) Death Before Date Distributions Begin.

(A) Participant Survived by Designated Beneficiary. Except as otherwise provided in Section 8.4(d) below, if the Participant dies before the date distributions begin and there is a Designated Beneficiary, the minimum amount that will be distributed for each Distribution Calendar Year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s Valuation Account Balance by the remaining Life Expectancy of the Participant’s Designated Beneficiary, determined as provided in paragraphs (a)(ii)(A)(III) or (a)(ii)(C) above.

(B) No Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is no Designated Beneficiary as of September 30 of the year after the year of the Participant's death, the minimum amount that will be distributed to the Default Beneficiary for each Distribution Calendar Year after the year of the Participant's death is the quotient obtained by dividing the Participant's Valuation Account Balance by the Participant's remaining Life Expectancy calculated using the age of the Participant in the year of the Participant’s death, reduced by one year for each later year.

(C) Death of Surviving Spouse Before Distributions to Surviving Spouse Are Required to Begin. If the Participant dies before the date distributions begin, the Participant’s surviving Spouse is the Participant’s sole Designated Beneficiary, and such surviving Spouse dies before distributions are required to begin to the surviving Spouse under paragraph (a)(ii)(A) above, this paragraph (c)(ii) will apply as if the surviving Spouse were the Participant.

(iii) Trusts and Estates. Notwithstanding the foregoing provisions of this subsection (c), if the beneficiary is a trust, estate, or other non-individual, the Participant’s entire remaining interest in the Plan will be distributed under the Five-Year Distribution Option.

- 107 -

(d) Small Account Balance. Except in the case of a Disabled Participant, a Disabled Terminated Participant, or, effective November 1, 2012, an Accountholder who is receiving Cash Installments, notwithstanding the provisions of subsections (a)-(c) above to the contrary, if the Aggregate Account Balance payable to an Accountholder or Designated Beneficiary at the time of distribution does not exceed $5,000, the entire Vested Account Balance will be distributed as a lump sum to such Accountholder or Designated Beneficiary as soon as administratively feasible (subject to the limitations of Section 8.2(g)). Notwithstanding the foregoing, any amount in excess of $1,000 distributed from this Plan in accordance with this subsection (d) (including amounts from the Accountholder’s or Designated Beneficiary’s Rollover Account) will be rolled over in accordance with Section 8.5(e) unless the Accountholder or Designated Beneficiary actively elects a distribution or a rollover to a specified plan or IRA. A Disabled Participant, a Disabled Terminated Participant, or, effective November 1, 2012, an Accountholder who is receiving Cash Installments must consent to such distribution, which will be made in accordance with Section 8.2(d).

(e) Distributions to Beneficiaries after the Death of the Accountholder. If an Accountholder who is a Participant, a Beneficiary, or a Beneficiary of a Beneficiary dies after the distribution of his or her Account has begun, then distribution of the remaining Account will be made to such Accountholder’s Beneficiary in accordance with the applicable provisions of subsections (a)-(c) above. If none of such Sections is applicable, then

(i) if such Accountholder was receiving a Lifetime Distribution Option, then, if permitted by the Administrator, the Beneficiary may:

(A) continue such Lifetime Distribution Option;

(B) to the extent permitted by Regulations, elect a different form of payment that distributes the Account over a period at least as rapid as the period applicable to the method of distribution applicable to the Accountholder; or

(C) elect a lump sum distribution; or

(ii) in all other cases, treat such Accountholder as though he or she were a Participant and apply paragraph (c)(i)(A) above.

(f) Corrective Distributions. Neither:

(i) corrective distributions made to satisfy any of the limitations of Section 5; nor

(ii) loans that have been treated as deemed distributions under Code §72(p)

will be considered distributions for the purpose of the minimum distribution requirement of this Section.

- 108 -

(g) Rollovers. A required minimum distribution may not be rolled over under Section 8.5.

(h) Multiple Plans. Notwithstanding the foregoing provisions of this Section, the Administrator may elect not to make a required minimum distribution from this Plan if the Accountholder provides (or the Administrator otherwise possesses) satisfactory evidence that the Accountholder’s required minimum distribution from this Plan was satisfied from a distribution from another Code §403(b) plan in which the Accountholder also participates.

(i) 2009 Moratorium. Notwithstanding the foregoing provisions of this Section, no defined contribution or account balance required minimum distributions will be made in accordance with Code §401(a)(9) for calendar year 2009, in accordance with the Worker, Retiree, and Employer Recovery Act of 2008. Nevertheless, Accountholders will continue to receive previously elected cash installment distributions under Section 8.1(c), although such distributions for calendar year 2009 will not be treated as required minimum distributions.

8.5 Direct Rollovers and Transfers Out.

(a) Elective Rollovers. If a Participant or Terminated Participant receives an Eligible Rollover Distribution that is, effective January 1, 2008, at least equal to $200, the Participant or Terminated Participant has the right to direct the rollover of all or a portion of such distribution directly to an IRA, a defined contribution pension or profit-sharing trust qualified under Code §401(a), an annuity plan qualified under Code §403(a), a tax-sheltered annuity plan qualified under Code §403(b), or another “eligible retirement plan” as defined in Code §401(a)(31), that will accept such a rollover, provided that the amount so transferred must be either the entire amount of such distribution or at least $200 (in accordance with rules adopted by the Administrator, such $200 may be separately applied to Roth Contribution Accounts).

(b) Roth Rollovers. Any amount that is from a Roth Contribution Account must be rolled into a Roth account at the recipient plan, trust, or IRA. Effective January 1, 2008, an Accountholder may roll some or all of his or her Account (not merely his or her Roth Contribution Account) to a Roth IRA within the meaning of Code §408A(a) by means of a direct rollover, subject to any required tax withholding on any portion of such direct rollover that is Before-Tax Contributions and any limitations on such Accountholder’s adjusted gross income (effective before January 1, 2010).

(c) Beneficiaries. Any surviving Spouse or Alternate Payee who is a Spouse or former Spouse of a Participant or Terminated Participant, or, effective January 1, 2010, any other Beneficiary, who is entitled to receive an Eligible Rollover Distribution has the right to direct the rollover of all or a portion of such distribution directly to an eligible retirement plan, or, in the case of a non-Spousal Beneficiary, only to an inherited IRA, that will accept such a rollover, provided

- 109 -

that the amount so transferred must be either the entire amount of such distribution or at least $200 (in accordance with rules adopted by the Administrator, such $200 may be separately applied to Roth Contribution Accounts).

(d) Tax Notice. The Administrator will furnish each Accountholder to whom this Section applies with a Notice under Code §402(f) describing his or her right to a direct rollover and the tax consequences of a distribution. Such Notice will be furnished not more than 180 days* nor fewer than 30 days before the Accountholder is entitled to receive such distribution, and no distribution will be made until 30 days after he or she has received such Notice unless he or she waives such 30 day period in writing.

(e) Auto-Rollovers. When:

(i) a distribution from this Plan to an Accountholder exceeds $1,000 (including amounts from the Accountholder’s Rollover Account);

(ii) the Accountholder’s Aggregate Account Balance does not exceed $5,000; and

(iii) the Accountholder:

(A) has not requested to receive the distribution;

(B) has not requested that the distribution be rolled over to another eligible retirement plan or IRA specified by the Accountholder;

(C) has not attained his or her Normal Retirement Date;

(D) is not a surviving Spouse;

(E) is not an Alternate Payee; and

(F) has not attained his or her Required Beginning Date,

then the Administrator will pay the distribution in a direct rollover to an IRA designated by the Administrator and invested in an investment type designated by the Administrator for the benefit of the Accountholder. Before making such rollover, the Administrator will provide, separately or as part of the Notice specified in subsection (d) above, a Notice to such Accountholder stating that, absent his or her affirmative election, the distribution will be automatically rolled over to an IRA. The Notice will also identify the custodian, trustee, or other issuer of the IRA. In carrying out this subsection (e), the Administrator will comply with IRS Notice 2005-5 and other applicable advice from the IRS or Regulations.

* Before January 1, 2007, “90 days.”

- 110 -

(f) Administrative Procedures. The Administrator may adopt administrative procedures to implement direct rollovers, which may vary the time periods and minimum amounts set forth above, to the extent consistent with IRS Notice 2005-5, Regulations issued under Code §401(a)(31), or any other applicable Regulations.

(g) Transfers Out. Subject to any limitations imposed by applicable law, Regulations, or Revenue Ruling 90-24, an Accountholder may transfer all or a portion of his or her Account Balance in the Plan attributable to Participant Contributions directly to a Code §403(b)(1) annuity contract, a Code §403(b)(7) custodial account, a Code §403(b)(9) retirement income account, or a Church Plan that is a Code §401(a) plan, provided that the transfer is:

(i) consented to by the Trustee;

(ii) consented to by the insurer, custodian, or administrator of the recipient 403(b) or 401(a) plan; and

(iii) made in accordance with rules and procedures established by the Administrator, including, without limitation:

(A) minimum periods between such transfers; and

(B) minimum amounts for such transfers.

Effective September 25, 2007, when required by Regulation §1.403(b)-10(b) or related IRS advice (such as Revenue Procedure 2007-71), the Plan Sponsor or Administrator will enter into any required information sharing agreement with the issuer of the contract or account to which such transfer is made. Notwithstanding the foregoing, effective January 1, 2010, transfers out are no longer permitted (although transfers in and rollovers out are permitted). In accordance with Regulation §1.403(b)-3(a)(5), effective January 1, 2009, an Accountholder’s interest in the Plan is nontransferable within the meaning of Code §401(g).

(h) Sponsor Account Balances. Under rules adopted by the Administrator that are similar to Code §402(c) rollovers, an Accountholder may request that amounts held in one Plan Sponsor’s Sponsor Account Balance be transferred to another Plan Sponsor’s Sponsor Account Balance under the Plan.

8.6 Unclaimed Benefits. The Administrator may prescribe uniform and nondiscriminatory rules for carrying out the following provisions:

(a) If a portion (or all) of an Account remains to be distributed to an Accountholder at a time when it is due under the Plan (including, but not limited to, the Required Beginning Date) and the Administrator is then unable to locate the Accountholder, the Administrator will send notice of such benefit due by a certified letter with return receipt requested to the last known address of the Accountholder. If the Accountholder fails to contact the Administrator within 12

- 111 -

months (except as provided in subsection (b) below), such Accountholder will be presumed dead and such benefit will be subject to forfeiture, and the resulting Forfeiture will become eligible to be distributed to, in the case of a Participant or Alternate Payee, such person’s Beneficiary, or, in the case of a Beneficiary, the Participant’s or Alternate Payee’s successor Beneficiary (including any Default Beneficiaries provided under the terms of the Plan), except in the case where a Beneficiary defers the distribution of an Account and is permitted to name his or her own Beneficiary, and in that case the Beneficiary’s Beneficiary. The Administrator will then send notice by certified letter as provided above to the Beneficiary or successor Beneficiary (including a Default Beneficiary), and the process specified above will be repeated until the last successor Beneficiary is sent a notification. When a Beneficiary is a class of persons, notice will be sent to all persons in the class and any benefit payable will be divided equally, or in proportion to the percentages elected by the Participant on his or her Beneficiary designation Form, among all persons of the class who respond in a timely manner.

(b) If the last successor or Default Beneficiary fails to contact the Administrator within 12 months after being sent notification of a benefit due as provided in subsection (a) above, then the Forfeiture specified in subsection (a) above will be forfeited. The Administrator will use such Forfeitures to defray the expenses of administering the Plan.

(c) If, at any time before the expiration of the 12-month period described in subsection (b) above, an Accountholder who is or was due a benefit described in subsection (a) above claims the benefit, the benefit will be paid to such Accountholder if it has not previously been paid to a Beneficiary. If the 12-month period described in subsection (b) above has elapsed, then such benefit will be permanently forfeited and used by the Administrator as described in subsection (b) above.

8.7 Payment with Respect to Incapacitated Accountholders. Whenever, in the Administrator’s opinion, a person entitled to receive any payment of a benefit under the Plan is under a legal disability (including being a minor) or is incapacitated in any way so as to be unable to manage such person’s financial affairs, the Administrator may direct the Trustee to make payments directly to the person, to the person’s legal representative (including a custodian for such person under the applicable Uniform Gifts or Transfers to Minors Act or similar legislation), or to a relative or friend of the person to be used exclusively for such person’s benefit, or apply any such payment for the benefit of the person in such manner as the Administrator deems advisable. The decision of the Administrator, in each case, will be final, binding, and conclusive upon all persons interested hereunder. The Administrator will not be obligated to see to the proper application or expenditure of any payment so made. Any benefit payment (or installment thereof) made in accordance with the provisions of this Section will completely discharge the obligation for making such payment under the Plan, and the Administrator will have no further liability on account thereof. The Administrator will adopt rules and policies to implement this Section.

- 112 -

8.8 Ordering of Distributions.

(a) Except where otherwise specifically required, such as under Section 5 or in the Code or Regulations, all distributions, in-service withdrawals, and loans constituting less than an Accountholder’s entire Account Balance will be made from the Accountholder’s Accounts in the order specified in rules adopted by the Administrator in accordance with applicable Regulations.

(b) The rules adopted under subsection (a) above will treat After-Tax Contributions (other than those made before 1987) as having been contributed to a separate contract, within the meaning of Code §72(d)(2), with distribution priority. To the extent required by Regulations, distributions of After-Tax Contributions, either under the separate contact or outside of it, will be distributed according to the Simplified Rule.

8.9 In-Service Withdrawals.

(a) Non-Hardship Withdrawals. Subject to rules adopted by the Administrator regarding the form of and the frequency of withdrawals, a Participant, whether or not he or she is an Active Participant with respect to the Plan Sponsor under which his or her Participant Contributions were made, may withdraw all or any portion of the Account Balance of his or her:

(i) Participant Contribution Accounts without demonstrating a financial hardship if such Participant:

(A) has attained the age of 59½, or

(B) in the case of:

(I) Before-Tax and Roth Contribution Accounts, is Permanently Disabled; and

(II) all other Participant Contribution Accounts, is Disabled;

(C) was called to active military duty after September 11, 2001 and qualifies for a qualified reservist distribution under Code §72(t)(2)(G)(iii) [any such withdrawal not being subject to the 10% penalty for early withdrawal]; or

(D) in the case of a non-reservist Participant on qualified military leave for 30 days, qualifies in accordance with USERRA/HEART Act §105(b) [any such withdrawal being subject to the 10% penalty for early withdrawal]; or

(ii) Rollover Account without demonstrating a financial hardship.

- 113 -

(b) Hardship Withdrawals. A Participant who qualifies under Section 3.2 (or who qualified under Section 3.2 and is on a Leave of Absence (including, effective February 1, 2008, a Clergy Employee on a Transitional Leave or who is otherwise between Appointments) or who is Appointed to a Salary-Paying Unit that does not sponsor UMPIP but who has not Retired) may receive a hardship withdrawal from his or her:

(1) Before-Tax Contribution Account or Roth Contribution Account (excluding any earnings attributable to Before-Tax Contributions or Roth Contributions as described in Section 8.9(b)(iii) below);

(2) QVEC Account (including any earnings therein); and/or

(3) After-Tax Contribution Account (including any earnings therein)

that are part of his or her:

(I) Sponsor Account Balance for his or her current Plan Sponsor; or

(II) effective January 1, 2006, in the case of an Appointed Clergyperson, Account Balance;

subject to the limitations set forth below:

(i) Hardship Reasons. The Participant must demonstrate one of the following hardships:

(A) the Participant’s need to pay medical expenses (as defined in Code §213(d)) for the Participant, his or her Spouse, one of his or her dependents (as defined in Code §152, without regard to §§152(b)(1), (b)(2), or (d)(1)(B)), or, effective August 17, 2006, the Participant’s primary Designated Beneficiary;

(B) the Participant’s need to pay tuition, related educational fees, and/or room and board expenses for up to the next 12 months of post-secondary education for the Participant, his or her Spouse, one of his or her children, one of his or her dependents (as defined in Code §152, without regard to §§152(b)(1), (b)(2), or (d)(1)(B)), or, effective August 17, 2006, the Participant’s primary Designated Beneficiary;

(C) the Participant’s need to purchase a principal residence (excluding mortgage payments) for him- or herself;

(D) the Participant’s need to make payments necessary to prevent his or her eviction from his or her principal residence or to avoid foreclosure on the mortgage of that residence;

- 114 -

(E) the Participant’s need to pay for the repair of damage to his or her principal residence that would qualify for a casualty deduction under Code §165 (without regard for whether the damage exceeds 10% of the Participant’s adjusted gross income);

(F) the Participant’s need to pay funeral and burial expenses for the Participant’s deceased parent, Spouse, child, dependent (as defined in Code §152, without regard to §152(d)(1)(B)), or, effective August 17, 2006, the Participant’s primary Designated Beneficiary;

(G) the Participant’s need to pay expenses related to any natural disaster for which relief has been granted by the IRS, including IRS Announcement 2012-44 (relating to Hurricane Sandy), IRS Announcement 2017-11 (relating to Hurricane Harvey), IRS Announcement 2017-13 (relating to Hurricane Irma), IRS Announcement 2017-15 (relating to Hurricane Maria and the California wildfires) and any similar relief granted to date or in the future; or

(H) such other circumstances causing a safe harbor immediate and heavy financial need as may be determined, effective January 1, 2007, under Regulation §1.401(k)-1(d)(3)(iii)(B) or other applicable Regulations.

(ii) Restrictions. A hardship withdrawal is limited to the amount reasonably necessary to satisfy the financial need described in Section 8.9(b)(i) above (including the payment of all income taxes and penalties on the withdrawal). A withdrawal will be considered reasonably necessary to satisfy a financial need if it satisfies the following criteria:

(A) the Participant has obtained all other distributions permitted under subsection (a) above (or distributions permitted under any other plans sponsored by the Plan Sponsor or an Affiliate) and loans permitted under Section 8.10 or any other plan of the Plan Sponsor or an Affiliate, except to the extent that obtaining such a loan would itself cause undue financial hardship, and

(B) the Participant’s Participant Contributions are suspended for a period of six months after the withdrawal under all plans maintained by any Plan Sponsor or Affiliate. Any Matching Contributions or Conditional Contributions that are dependent on suspended Participant Contributions will also be suspended for the six-month period. Suspended Contributions may not be made up after the expiration of the six-month period.

- 115 -

The Administrator may rely on the Participant’s written representation of the foregoing, provided that the Administrator does not have actual knowledge to the contrary.

(iii) No Earnings on Elective Deferral Contributions. A hardship withdrawal that is charged to the Before-Tax Contribution Account or Roth Contribution Account may not exceed the lesser of:

(A) the current aggregate balances of the Accounts, or

(B) the excess of the total amount of Before-Tax Contributions and Roth Contributions made to the Accounts over the total prior hardship withdrawals made from such Accounts.

Hardship withdrawals charged to other Accounts are subject only to the limitation of paragraph (b)(iii)(A) above.

(iv) Withdrawal Procedures. A hardship withdrawal application must be made by the Participant in a Form acceptable to the Administrator. The Administrator may adopt uniform and non-discriminatory procedures imposing limitations on the number, frequency, or dollar amount of hardship withdrawals pursuant to this Section. Subject to the limitations of the Plan and any procedures adopted by the Administrator, withdrawals will be paid pro rata from all of the Participant’s Accounts.

(v) Treatment of Withdrawals. Except as otherwise specifically provided herein, a withdrawal will be treated as a distribution for all purposes of the Plan, except that an in-service withdrawal under this Section may not be distributed in the form of cash installments.

(vi) Procedures. The Administrator may adopt procedures and rules in accordance with Regulations to supplement the foregoing provisions of this subsection (b).

8.10 Hardship Loans. The Trustee may make hardship loans to:

(1) Active Participants of a Plan Sponsor;

(2) Participants on a Leave of Absence from a Plan Sponsor (including, effective February 1, 2008, a Clergy Employee on a Transitional Leave or who is otherwise between Appointments); and

(3) Effective June 1, 2012,

(i) Lay Employee Participants who have not incurred a Termination of Employment from or Retired from a Plan Sponsor;

- 116 -

(ii) Clergy Employee Participants who have not incurred a Termination of Conference Relationship or Retired; and

(4) Effective January 1, 2014, a Retired Participant who is not a Terminated Participant

to the extent of that Plan Sponsor’s (or, in the case of a Clergy Employee under paragraph (3)(ii) above, a Plan Sponsor’s or a Salary-Paying Unit’s) Sponsor Account Balance as specified in subsection (j) below and in accordance with the following:

(a) Equal Availability. Loans will be made available to all eligible Participants on a reasonably equivalent basis.

(b) Nondiscriminatory. Loans will not be made available to HCEs in an amount greater than the amount made available to other Participants.

(c) Interest. Loans will bear a reasonable rate of interest.

(d) Security. Loans will be adequately secured.

(e) Amount of Loan. The amount of any loan made pursuant to this Section must be at least $1,000 per loan and (when added to the outstanding balance of all other loans made by the Plan (or any other Code §403(b) plan of the Plan Sponsor) to the Participant) will be limited in size to the lesser of:

(i) $50,000, reduced by the excess (if any) of:

(1) the highest outstanding balance of loans from the Plan to the Participant during the one-year period ending on the day before the date on which such loan was made, over

(2) the outstanding balance of loans from the Plan to the Participant on the date on which such loan was approved; or

(ii) the greater of:

(1) one-half of the Sponsor Account Balance (excluding any QVEC Account) of the Participant at the time the loan is approved; or

(2) $10,000.

Notwithstanding the foregoing, the amount of the loan may not exceed the balance in the Participant’s Participant Contribution Accounts that are part of such Sponsor Account Balance at the time the loan is approved. Loans made pursuant to paragraph (4) above will not be subject to the restriction in the previous sentence.

- 117 -

(f) Term. Loans will provide for level amortization with payments to be made not less frequently than quarterly over a period not to exceed 5 years. However, loans used to acquire any dwelling unit that, within a reasonable time, is to be used (determined at the time the loan is made) as the principal residence of the Participant will provide for periodic repayment over a reasonable period of time that may not exceed 15 years.

(g) Repayment. Generally, loans will be repaid via electronic funds transfer in accordance with procedures established by the Administrator from time to time. In accordance with rules adopted by the Administrator, paper checks and other means of loan repayment may be accepted in the Administrator’s discretion. The failure to timely repay a loan will be an event of default. Effective October 3, 2008, notwithstanding the foregoing, affected participants, as defined in the Emergency Economic Stabilization Act of 2008 (aka, EESA) (relating to persons affected by floods and tornadoes in the Mississippi valley region), may repay outstanding loans up to one year later than originally due.

(h) Hardship Reasons. The Participant must demonstrate one of the following hardships:

(i) the Participant’s need to pay medical expenses (as defined in Code §213(d)) for the Participant, his or her Spouse, or one of his or her dependents (as defined in Code §152, without regard to §§152(b)(1), (b)(2), or (d)(1)(B));

(ii) the Participant’s need to pay tuition, related educational fees, and/or room and board expenses for up to the next 12 months of post-secondary education for the Participant, his or her Spouse, one of his or her children, or one of his or her dependents (as defined in Code §152, without regard to §§152(b)(1), (b)(2), or (d)(1)(B));

(iii) the Participant’s need to purchase a residence (excluding mortgage payments) for him- or herself;

(iv) the Participant’s need to make payments necessary to prevent his or her eviction from his or her principal residence or to avoid foreclosure on the mortgage of that residence;

(v) the Participant’s need to pay for the repair of damage to his or her principal residence that would qualify for a casualty deduction under Code §165 (without regard for whether the damage exceeds 10% of the Participant’s adjusted gross income);

(vi) the Participant’s need to pay funeral and burial expenses for the Participant's deceased parent, Spouse, child, or dependent (as defined in Code §152, without regard to §152(d)(1)(B));

- 118 -

(vii) the Participant’s need to pay expenses related to any disaster that has been declared by the President of the United States, the governor of any state, or the Administrator;

(viii) such other circumstances causing a safe harbor immediate and heavy financial need as may be determined, effective January 1, 2007, under Regulation §1.401(k)-1(d)(3)(iii)(B) or other applicable Regulations; or

(ix) such other circumstances as may qualify under Regulation §1.401(k)-1(d)(3)(iii)(A), or other applicable Regulations, as an immediate and heavy financial need on the basis of all relevant facts and circumstances.

(i) Loan Policy. Any loans granted or renewed will be made pursuant to a written Participant loan policy prepared by the Administrator. Such loan policy must include, but need not be limited to, the following:

(i) The identity of the person or positions authorized to administer the Participant loan program;

(ii) A procedure for applying for loans;

(iii) The basis on which loans will be approved or denied;

(iv) Limitations, if any, on the types and amounts of loans offered;

(v) The procedure under the program for determining a reasonable rate of interest;

(vi) The amount of any loan origination or other fee, which may be deducted from the Participant’s Account Balance after the amount of the loan is computed;

(vii) The types of collateral that may secure a Participant loan;

(viii) The events constituting default and the steps that will be taken to preserve Plan assets; and

(ix) Rules establishing that loans will apply separately to each separate Sponsor Account Balance.

Such Participant loan policy will be contained in a separate written document, which is hereby incorporated by reference and made a part of the Plan. Such Participant loan policy may be modified or amended in writing by the Administrator from time to time without the necessity of amending this Section.

(j) Loans Outstanding. Notwithstanding the foregoing provisions of this Section,

- 119 -

(i) a Clergyperson may have only one loan outstanding at a time from the sum of all Sponsor Account Balances attributable to Contributions made while such Clergyperson was Under Episcopal Appointment to one of the following entities within the Plan Sponsor’s Conference:

(A) a Local Church;

(B) a pastoral Charge;

(C) a Conference;

(D) a Conference-Responsible Unit; or

(E) a Conference-Elective Entity;

(ii) to the extent a Clergyperson is not covered under paragraph (j)(i) above, he or she may have only one loan outstanding at a time from the Sponsor Account Balance of each of his or her Plan Sponsors; and

(iii) Lay Employee may have only one loan outstanding at a time from the Sponsor Account Balance of each Plan Sponsor with respect to which such Lay Employee was employed.

8.11 Disclaimer. Any Accountholder may Disclaim any benefit or portion thereof that is due to him or her if done in writing in a Form acceptable to the Administrator and if done before receiving it. The effect of a Disclaimer is to treat such Accountholder as if he or she had died before the benefit or portion was due to him or her.

8.12 Trailing Account Balances. If an Accountholder who has received a distribution of his or her entire Account Balance later receives a credit to such Account, because of a delayed Contribution or other delayed Credits or a correction in accounting or for some other reason, the Administrator will distribute the balance in the Account to the Accountholder as soon as practicable thereafter. If the Account Balance is under $200, the Account Balance will be distributed as a lump sum to the Accountholder as soon as administratively feasible. If the Account Balance is $200 or more, it will be distributed in the same form of payment that applied to the Accountholder’s previous distribution.

8.13 Beneficiaries.

(a) Person or Persons. A Beneficiary may be one or more legal persons, namely, individual(s), trust(s), estate(s), or other legal person(s). There may be a hierarchy of potential Beneficiaries, but the actual Beneficiary is the person or persons entitled to receive a distribution under the Plan, determined at the time or times any such distribution is payable, or at the time the Accountholder died or disappeared, as may be specified in the Plan. If one or more persons are all entitled to share in a given distribution, then the class of such persons is the Beneficiary. The persons in such a class may share equally or unequally in the distribution, as may be provided in the Plan or in a Beneficiary designation.

- 120 -

(b) Beneficiary Hierarchy. When there is more than one potential Beneficiary, the actual Beneficiary will be determined in the following order:

(i) the primary Designated Beneficiary;

(ii) the secondary Designated Beneficiary; and

(iii) the Default Beneficiary

taken in succession, one following another, until a Beneficiary who is alive (in the case of an individual) and can be identified, located, and verified by the Administrator is established. When a Beneficiary consists of a class of persons, all of such persons who can be located will receive an equal share of any distribution to such class, unless the designation clearly specifies another division.

(c) Beneficiary Designation. A Participant may designate a Beneficiary in such Form as is satisfactory to the Administrator, which designation must be postmarked, sent by private courier, or received by the Administrator during the Participant’s lifetime to be valid. If more than one person is specified as the Participant’s Beneficiary, each such person will take an equal share, per capita, unless the Participant clearly specifies another division. When a Participant executes a Beneficiary designation that is accepted as valid by the Administrator, it supersedes all earlier Beneficiary designations. A Participant’s Beneficiary designation applies to all Accounts in the Plan.

(d) Designated Beneficiary. The Designated Beneficiary of a Participant is the first of the following persons (in the order listed) to be identified, located, and verified by the Administrator:

(i) in the case of a Participant with a Spouse, such Spouse unless such Spouse otherwise consents or meets the requirements of subsection (e) below;

(ii) in the case of a Participant who has designated a Beneficiary with respect to this Plan, the Beneficiary he or she designates in accordance with subsection (c) above, if any;

(iii) in the case of a Participant who has not designated a Beneficiary with respect to this Plan but who did designate a Beneficiary under CPBF or PIP (but not both), such Beneficiary; or

(iv) in the case of a Participant who has not designated a Beneficiary with respect to this Plan but who did designate a Beneficiary under both PIP and CPBF, then

(A) the PIP beneficiary for such Participant’s Participant Contribution Accounts; and

- 121 -

(B) the CPBF beneficiary for such Participant’s Plan Sponsor Contribution Accounts.

(e) Surviving Spouse. Notwithstanding a Participant’s Beneficiary designation to the contrary, if the Spouse of a deceased or missing Participant survives him or her, the Participant’s surviving Spouse will be his or her Beneficiary and the Participant’s Account will be paid to that Spouse unless:

(i) the Spouse consents in writing after the Participant’s death, or had consented in writing before the Participant’s death, to the Participant’s designation of another Designated Beneficiary, witnessed in either case by a Plan Sponsor or an Administrator representative (other than the Participant) or a notary public. The Spouse must consent as specified above to each change in Designated Beneficiary unless the original consent (only if given before July 1, 2011) expressly permits the Participant to further change his or her Designated Beneficiary without the requirement of further consent by the Spouse;

(ii) the Participant is legally separated from his or her Spouse or has been abandoned (within the meaning of local law) by his or her Spouse, and, in either case, the Participant has a court order to such effect (and there is no QDRO that provides otherwise);

(iii) the Spouse Disclaims the Participant’s Account, in writing in a Form acceptable to the Administrator, before receiving it. The Disclaimer must be of the entire benefit. The effect of such Disclaimer is to treat the Spouse as if he or she had predeceased the Participant; or

(iv) neither the Participant nor the Administrator can locate the Spouse (provided, however, that the Administrator will have no obligation to search for such Spouse).

Notwithstanding the foregoing, any Participant’s designation of Beneficiary Form received and accepted by the Administrator under any predecessor to the Plan before January 1, 1993 will continue to be effective on and after January 1, 1993, notwithstanding such Participant’s marriage after January 1, 1993, whether or not such Participant’s Spouse consented to the Beneficiary designated on such Form. Any designation of Beneficiary Form accepted by the Administrator on or after January 1, 1993 will revoke any such pre-January 1, 1993 designation of Beneficiary Form. Any such pre-January 1, 1993 designation of Beneficiary Form will also be revoked as to any Participant 45 days after such Participant is notified by the Administrator of a different Beneficiary in the Administrator’s records.

(f) Effect of Divorce. Notwithstanding anything to the contrary in this Section, an Accountholder’s divorce on or after the Effective Date will automatically revoke any Beneficiary designation in favor of the Accountholder’s Spouse made before the divorce, unless:

- 122 -

(i) a QDRO provides that the divorced former Spouse is to be treated as a Spouse for the purpose of receiving death benefits, or

(ii) the Accountholder completes another Beneficiary designation in favor of the former Spouse after the divorce. Until such time as a new designation of Beneficiary is filed with the Administrator in accordance with the provisions of this paragraph, benefits will be payable as though the former Spouse had predeceased the Accountholder.

Notwithstanding the foregoing, any Accountholder divorce that was effective on or after:

(1) January 1, 1998; and

(2) the date the Administrator accepted a Beneficiary designation in favor of the Accountholder’s Spouse

will be effective to revoke such Accountholder Beneficiary designation in favor of such Spouse accepted by the Administrator on or after January 1, 1998.

(g) Default Beneficiary. An Accountholder’s Default Beneficiary is:

(i) the Accountholder’s Spouse, if any, provided that the Administrator can identify, locate, and verify such Spouse; or otherwise

(ii) the Accountholder’s estate.

(h) Beneficiary of an Accountholder. An individual other than a Participant who becomes an Accountholder and does not receive an immediate distribution of that Account may name a Beneficiary in accordance with such procedures and in such Form as the Administrator may accept or require. Subject to the provisions of Section 8.6, such Beneficiary will receive the Accountholder’s Account if the Accountholder dies or is missing when a distribution is due. If an individual who becomes an Accountholder does not name his or her own Beneficiary as permitted in this Section, if a named Beneficiary does not survive such individual, or if Section 8.6 does not otherwise provide, such individual’s Default Beneficiary will be such individual’s Spouse or, if there is no surviving Spouse, then the estate of such individual.

8.14 Administrative Rules. All distributions, in-service withdrawals, and loans are subject to rules adopted by the Administrator, such as, but not limited to, the Forms required to be submitted to request such distributions, in-service withdrawals, or loans and the frequency and minimum dollar amount of such distributions, in-service withdrawals, or loans.

- 123 -

SECTION 9 – ADOPTION OF PLAN

9.1 Eligible Plan Sponsors The Plan may be adopted by any Plan Sponsor described in Section 1.8, with the consent of the Administrator.

9.2 Adoption Agreement

(a) The Adoption Agreement for the Plan will be in a Form prescribed by the Administrator.

(b) Except as otherwise provided in this Section or in Section 9.4, an adopting Plan Sponsor must complete an Adoption Agreement, which, once completed, must be acceptable to the Administrator and submitted in a manner and at a time that are in accordance with rules adopted by the Administrator. The effective date of the Adoption Agreement (or any amendment thereof) must be as of the first of a month and cannot be any earlier than the first day of the current Plan Year unless the Administrator approves an earlier date after considering any relevant circumstances. Adoption Agreements may be amended by the mutual agreement of the Plan Sponsor and the Administrator from time to time.

(c) In accordance with rules adopted by the Administrator and with the consent of the Administrator, a prospective Plan Sponsor may adopt UMPIP by means of submitting a Contribution to the Plan or enrolling a Participant in the Plan. The effective date of such an Adoption Agreement will be specified in rules adopted by the Administrator but will not be later than the earliest date as of which such Contribution was submitted to the Plan or such Participant enrolled in the Plan. The Administrator may (but need not) complete a blank Adoption Agreement on behalf of the new Plan Sponsor, filling in any blanks as it sees fit, and send a copy to the new Plan Sponsor as evidence of its acceptance as a Plan Sponsor. Such Adoption Agreement will thereafter be binding on the Plan Sponsor until amended or terminated in accordance with this Plan. Alternatively, the Administrator may give reasonable notice to the new Plan Sponsor of its adoption of the Plan in some other manner. Adoption of the Plan by the means outlined in this paragraph will be deemed an execution of the Adoption Agreement by the new Plan Sponsor.

(d) Effective as of the Effective Date:

(i) any sponsor of MPP;

(ii) any sponsor of SRBP; and

(iii) any sponsor of CPBF

on the day before the Effective Date will be deemed a Plan Sponsor of the Plan for Participant Contributions in accordance with rules of the Administrator, even without an Adoption Agreement (unless such sponsor files a Notice with the Administrator indicating its desire not to be such a Plan Sponsor).

- 124 -

9.3 Merging Other Plans With the consent of the Trustee, an adopting Plan Sponsor may merge its former Code §403(b) Church Plan or §401(a) Church Plan into the Plan. The assets of the merged plan will be transferred to the Trustee in the manner prescribed by the Trustee. This Plan will be the surviving plan and all provisions of the Plan and all rules, regulations, and interpretations of the Plan will be applied to and control the provisions of the former plan.

9.4 CPBF and PIP Plan Sponsors

(a) Although the Plan is the successor to CPBF and PIP, it has many different provisions and Adoption Agreement Plan Sponsor elections. Therefore, existing Plan Sponsors of CPBF and PIP should execute a new Adoption Agreement before the Effective Date (or as soon thereafter as is possible).

(b) CPBF and PIP Plan Sponsors that do not execute a new Adoption Agreement with respect to the Plan will be deemed to be successor Plan Sponsors of the Plan to the extent permitted in rules adopted by the Administrator if they executed an Adoption Agreement of CPBF and/or PIP or were treated as having done so.* In such a case, the following elections on the CPBF adoption agreement, if any, will be assumed to be the Plan Sponsor’s election for the Plan’s Adoption Agreement:

(i) If the CPBF adoption agreement specifies a minimum quantity of service to qualify for plan sponsor contributions, the Plan Sponsor will be deemed to have elected 1,040 hours of minimum Eligibility Service;

(ii) If the CPBF adoption agreement specifies a minimum waiting period before an employee enters the plan, the Plan Sponsor will be deemed to have elected 12 months on the Adoption Agreement as the waiting period before an employee enters the plan; and

(iii) If the CPBF adoption agreement specifies a definition of compensation to be used to compute contributions to CPBF, then the Plan Sponsor will be deemed to have elected Compensation on the Adoption Agreement as the Plan’s definition of plan compensation.

(c) If a Plan Sponsor that has executed a PIP adoption agreement but not a CPBF adoption agreement does not execute an Adoption Agreement, such entity will be deemed to have adopted only the Participant Contribution portion of the Plan (and only for so long as rules adopted by the Administrator permit), and all Employees of the Plan Sponsor who execute a Salary-Reduction Agreement will be eligible for Participant Contributions and will be enrolled by the Plan Sponsor without the Plan Sponsor having executed a UMPIP Adoption Agreement.

9.5 Service Agreement. Effective January 1, 2007, in accordance with rules adopted by the Administrator, a Remitter may:

* Previous to January 1, 2007, a different Section 9.4(b) required a signed Adoption Agreement in more situations.

- 125 -

(a) be required to execute a Service Agreement; or

(b) be deemed to have executed a Service Agreement in accordance with procedures similar to those found in Section 9.2(c) or Section 9.4 with respect to Adoption Agreements.

- 126 -

SECTION 10 - PLAN ADMINISTRATION

10.1 General Fiduciary Standard of Conduct. Each fiduciary under this Plan will discharge his or her duties hereunder solely in the interest of Accountholders and for the exclusive purpose of providing benefits to Accountholders and defraying the reasonable expenses of administering the Plan and the Trust. Each fiduciary will act with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person, acting in a like capacity and familiar with such matters, would use in the conduct of an enterprise of a like character and with like aims, in accordance with the documents and instruments governing the Plan and the Trust, insofar as such documents and instruments are consistent with this standard.

10.2 Allocation of Responsibility Among Fiduciaries. The fiduciaries will have only those specific powers, duties, responsibilities, and obligations specifically delegated to them under this Plan. Each Plan Sponsor, the Administrator, the Trustee, and any investment manager will each be a fiduciary to the extent that such entity determines benefits payable under the Plan or controls or influences the investment of the assets of the Plan. The Administrator may delegate fiduciary duties (other than the Trustee’s duties) to persons other than the fiduciaries specified in the preceding sentence, and may approve any allocation of fiduciary duties among fiduciaries. If there is more than one Trustee, they may enter into agreements among themselves with respect to the allocation of the Trustee’s responsibilities with the consent of the Administrator. ERISA will not apply to this Plan if, when, and for so long as it qualifies as a Church Plan.

10.3 Administrator. The Administrator of the Plan is the General Board. The Administrator is the “plan administrator” as defined in Code §414(g). The Administrator has the duty to file such plan documents and annual reports as may be required by ERISA (if any, and if ERISA applies) or similar legislation and is designated to accept service of legal process and any other notices for the Plan. The:

(1) Administrator; or

(2) Plan Sponsor, if the Administrator so designates in each case in accordance with rules that it has adopted,

will furnish each Participant with:

(a) a summary plan description (if applicable, and if ERISA applies);

(b) a summary annual report (if applicable, and if ERISA applies); and

(c) all other Notices and other documents required by ERISA (if any, and if ERISA applies), the Code, or the Plan.

The Administrator may resign on reasonable written notice given to the Plan Sponsors, who will then (and only then) have the right to appoint another Administrator by majority vote, with one vote for each of their Participants on the day the Administrator’s resignation was effective.

- 127 -

10.4 Powers and Duties of Administrator. The primary responsibility of the Administrator is to administer the Plan for the exclusive benefit of Accountholders, subject to the terms of the Plan and Code §403(b)(9). The Administrator will administer the Plan in accordance with its terms and has the power and discretion to construe the terms of the Plan and to determine all questions arising in connection with the administration, interpretation, and application of the Plan. Any such determination by the Administrator is conclusive and binding upon all persons. The Administrator, in addition to all powers and authorities under common law, statutory authority, and other provisions of the Plan, has the following powers and authorities, to be exercised in the Administrator’s sole discretion:

(a) to establish procedures, correct any defect, supply any information, or reconcile any inconsistency in such manner and to such extent as may be deemed necessary or advisable to carry out the purpose of the Plan;

(b) to determine all questions relating to the eligibility of:

(i) an Employee to participate or remain a Participant hereunder and to receive benefits under the Plan; and

(ii) an organization to become a Plan Sponsor of the Plan;

(c) to compute, certify, and direct the Trustee with respect to the amount and the kind of benefits to which any Accountholder may be entitled hereunder and to prescribe procedures to be followed by Accountholders when applying for benefits;

(d) in its sole discretion, to construe and interpret the Plan and make and publish such administrative rules or regulations relating to the Plan as are consistent with the terms hereof, and to resolve or otherwise decide matters not specifically covered by the terms and provisions of the Plan;

(e) to maintain all necessary records for the administration of the Plan;

(f) to file, or cause to be filed, all such annual reports, returns, schedules, descriptions, financial statements and other statements as may be required by any federal or state statute, agency, or authority;

(g) to obtain from the Plan Sponsors, Employees, and Accountholders such information as may be necessary to the proper administration of the Plan;

(h) to specify actuarial assumptions and methods for use in determining benefits under Supplements One and Two that are paid in the form of an annuity;

(i) to assist any Accountholder to understand his or her rights, benefits, or elections available under the Plan;

(j) to decide the validity of any election or designation made under the Plan, and the amount, manner and time of any allocation to accounts or payment of any benefits

- 128 -

hereunder; and to make factual determinations necessary or appropriate for such decisions or determination;

(l) to prepare and distribute information explaining the Plan;

(m) to appoint or employ advisors, including legal and actuarial counsel (who may also be counsel to the Trustee) to render advice with regard to any responsibility of the Administrator under the Plan or to assist in the administration of the Plan;

(n) to select annuity providers to provide benefits from the Plan;

(o) to designate in writing other persons to carry out a specified part or parts of its responsibilities hereunder (including the power to designate other persons to carry out a part of such designated responsibility). Any such designation must be accepted by the designated person who will acknowledge in writing that he, she, or it is a fiduciary with respect to the Plan. Any such person may be removed by the Administrator at any time with or without cause;

(p) to adopt and apply reasonable procedures for determining whether any order, judgment, or decree constitutes a QDRO and to give a Notice to the Participant and all Alternate Payees as to the results of its determination;

(q) to the extent permitted under the Trust Agreement, direct the Trustee with respect to the investment of the Trust;

(r) to furnish the Plan Sponsors, upon request, with such annual reports with respect to the administration of the Plan as are reasonable and appropriate;

(s) to receive, review, and keep on file (as it deems convenient and proper) reports of benefit and expense payments made by the Trustee;

(t) to determine whether Contributions comply with applicable limitations, although compliance with Code §415(c) is the responsibility of the Plan Sponsor or the Participant, unless the Administrator specifically otherwise provides under rules it adopts;

(u) to determine whether hardship withdrawals and loans comply with applicable requirements and limitations;

(v) to determine that any transfers or rollovers comply with applicable requirements and limitations, provided that the Participant making the transfer or rollover makes accurate and sufficient information available to the Administrator;

(w) to determine whether a Plan Sponsor is a member of a controlled group, to the extent required for compliance with any Code or Regulations requirements undertaken by the Administrator, provided that the Plan Sponsor makes accurate and sufficient information available to the Administrator; and

- 129 -

(x) to do all other acts that the Administrator deems necessary or proper to accomplish and implement its responsibilities under the Plan.

Any rule or procedure adopted by the Administrator, or any decision, ruling, or determination made by the Administrator, in good faith and in accordance with applicable fiduciary standards will be final, binding, and conclusive on all Plan Sponsors and Accountholders and all persons claiming through them. The Administrator has discretionary authority to grant or deny benefits under this Plan. Benefits under this Plan will be paid only if the Administrator decides in its discretion that the applicant is entitled to them. Rules and procedures adopted by the Administrator may vary any provision of the Plan that is administrative or ministerial in nature (including the time provided for performing any act, if not required by law), without the necessity of a formal amendment.

10.5 Records and Reports. The Administrator will keep a record of all actions taken and will keep all other books of account, records, and other data that may be necessary for proper administration of the Plan and will be responsible for supplying all information and reports to appropriate government entities, Accountholders, and others as required by law.

10.6 Duties of Each Plan Sponsor. Each Plan Sponsor will assume the following duties with respect to the Plan:

(a) to determine initial eligibility and enroll Employees as provided in the Plan within 60 days of each Employee satisfying the eligibility requirements of the Plan;

(b) to maintain records of a Participant’s Service;

(c) to provide the Administrator with a Notice within 90 days of a Participant’s Termination of Employment, Termination of Conference Relationship, or any Break in Service;

(d) to calculate and maintain records of a Participant’s Compensation and to provide to the Administrator upon request appropriate records reflecting such Compensation, such as IRS Form W-2s;

(e) to calculate and remit Contributions to the Administrator or Trustee in a timely manner as provided in the Plan, including providing any investment earnings and fees for late contributions, as specified in the Plan and any applicable procedures;

(f) to provide the Administrator with accurate employee data and other information satisfactory to the Administrator, within a reasonable time after a request by the Administrator, sufficient to enable the Administrator to discharge its duties under the Plan;

(g) to register with and report to government agencies, as appropriate;

(h) to comply with any nondiscrimination or other government testing that may be required by applicable law;

- 130 -

(i) to give any Notices required under the Plan or the Code to be given by the Plan Sponsor (or a Salary-Paying Unit), including (but not limited to):

(i) Notices to Employees of their rights, obligations, and eligibility under the Plan; and

(ii) Automatic Enrollment Notices;

(j) to execute an Adoption Agreement indicating any elections regarding optional Plan provisions and any other information called for by the Adoption Agreement;

(k) to specify in the Adoption Agreement any classes of employees of Agency Affiliates (or employees of which Agency Affiliates) that will be treated as Employees of the Plan Sponsor;

(l) to determine whether the Plan Sponsor is a member of a controlled group, to the extent required for compliance with any Code or Regulations requirements undertaken by the Plan Sponsor;

(m) to inform the Administrator within a reasonable period of time of any organizational changes that may impact its eligibility to be Plan Sponsor; and

(n) to comply with the Regulations under Code §402(g), §403(b) and §415(c) in general, and, in particular, when sponsoring another Code §403(b) plan to be responsible for maintaining a written plan document for such other plan and for aggregating this Plan with such other plan when required by such Regulations.

The Plan Sponsor may satisfy its duties through actions by a Salary-Paying Unit or other entity, but the Plan Sponsor remains responsible for the duties if they are not carried out by another entity in a timely fashion.

10.7 Fees and Expenses. All expenses incurred by the Administrator and Trustee in connection with the administration of the Plan will be paid by the Plan or the Trust.

(a) The Trustee has the authority to determine administrative and expense charges and the methods for applying such charges.

(b) The Trustee is authorized to deduct from the Plan’s reserves, funds, contributions, and/or earnings thereon, the expenses and fees necessary or appropriate to the administration of the Plan, including an allocable share of the Administrator’s operating expenses.

(c) The Administrator is authorized to determine a reasonable charge for providing non-routine reports and services for Plan Sponsors and Accountholders and to require the Plan Sponsor or Accountholder to pay separately for such non-routine reports and services.

- 131 -

10.8 Attorney Fees and Costs. The Trustee may assess, to the extent permitted by law, against the Plan’s or Trust’s assets, reasonable attorney fees and charges to reimburse the Administrator or Trustee for expenses incurred by the Administrator or Trustee in responding to pleadings, retaining counsel, entering an appearance, or defending any case in any action at law, if the Administrator or Trustee is served with a levy, subpoena, summons, or other similar pleading by the IRS or by any other party, including the parties to marital litigation, in litigation or legal proceedings in which the Administrator or Trustee is not a party, or is made a party.

10.9 Delegation of Authority. The Administrator may authorize one or more of its number, or any agent, to carry out its administrative duties, and may employ such counsel, auditors, and other specialists and such clerical, actuarial, and other services as it may require in carrying out the provisions of this Plan. In no case, however, may administrative functions be allocated to Accountholders (other than permitting Accountholders to make investment elections for self-directed accounts). Any administrative functions not allocated to other persons are reserved to the Administrator. The Administrator may rely on any certificate, Notice, or direction, oral or written, purporting to have been signed or communicated on behalf of a Plan Sponsor, an Accountholder, or others that the Administrator believes to have been signed or communicated by persons authorized to act on behalf of the Plan Sponsor, Accountholder, or others, as applicable. The Administrator may also rely on any power of attorney, guardianship document, or similar document that it believes to be genuine and operative. The Administrator may request instructions in writing from a Plan Sponsor, Accountholder, or others, as applicable, on other matters, and may rely and act thereon. The Administrator may not be held responsible for any loss caused by its acting upon any Notice, direction, or certification of a Plan Sponsor, an Accountholder, or others, that the Administrator reasonably believes to be genuine and communicated by an authorized person.

10.10 Indemnification by Plan Sponsors. The Plan Sponsors, jointly and severally, will indemnify the Administrator, the Trustee, and any other person or persons to whom the Plan Sponsor, Trustee, or Administrator has delegated fiduciary or other duties under the Plan for, and hold them harmless from and against, any and all claims, damages, liabilities, losses, costs, and expenses (including reasonable attorneys fees and all expenses reasonably incurred in their defense if the Plan Sponsors fail to provide such defense) of whatsoever kind and nature that may be imposed on, incurred by, or asserted against them at any time by reason of their service under the Plan or the Trust, unless the same is determined to be due to gross negligence, willful misconduct, or willful failure to act. This provision will survive the termination of the Plan and the termination of a Plan Sponsor’s participation in the Plan as to events that occurred while the Plan Sponsor was participating in the Plan.

10.11 Claims Procedure. The following claims and appeals procedures are subject to any additional rules or procedures that the Administrator may adopt from time to time that are not inconsistent herewith:

- 132 -

(a) Filing of Claim. A claim for benefits under the Plan must be filed by a Claimant with the Administrator on a Form supplied by the Administrator within one year after the later of the date:

(i) the events giving rise to the claim occurred, or

(ii) the Claimant knew or should have known of the facts or events giving rise to the claim,

or the Claimant will be deemed to have waived his or her right to make a claim or to pursue any other remedy, including filing a lawsuit. Notwithstanding the foregoing, an Accountholder is not required to apply for or begin the receipt of benefits under the Plan until his or her Required Beginning Date. A Notice of the disposition of a claim will be sent to the Plan Sponsor and to the Claimant within 45 days after all required Forms and materials related to the claim have been filed. If special circumstances require an extension of time, a Notice of the extension will be furnished to the Claimant, and a Notice of the disposition of a claim will be sent within an additional 90 days.

(b) Denial of Claim. If any claim for benefits under the Plan is wholly or partially denied, the Administrator will send the Claimant a Notice of the denial, within the period specified in subsection (a) above, written in a manner calculated to be understood by the Claimant, setting forth the following information:

(i) the specific reasons for such denial;

(ii) specific reference to pertinent Plan provisions on which the denial is based;

(iii) a description of any additional material or information necessary for the Claimant to perfect the claim and an explanation of why such material or information is necessary; and

(iv) an explanation of the Plan’s appeals procedures.

(c) Appeal of Denial. If a Claimant is denied benefits under subsection (b) above, the Claimant has the right to appeal the decision within 90 days after the date of the claim denial, in accordance with the following procedures:

(i) Intermediate Appeal Procedure. The Administrator will establish an intermediate appeals procedure containing no more than a three-level process.

(ii) Final Appeal Procedure.

(A) If the Claimant wishes to appeal the denial of benefits under paragraph (c)(i) above, the Claimant must file with the Final Appeals Committee a written appeal and supporting documents,

- 133 -

using any Form required by the Administrator for the purpose, within 90 days after the date of the denial issued under paragraph (c)(i) above. Such an appeal may be addressed to the Administrator or in care of the person or persons specified in the Notice of denial issued under paragraph (c)(i) above.

(B) A timely filed appeal will be heard by the Final Appeals Committee at its next meeting, unless additional time is needed for processing, in which case the Claimant will be given a Notice and the appeal will be heard at the following meeting of the Final Appeals Committee. Appeals or documents filed fewer than 30 days before the next meeting of the Final Appeals Committee will not be considered by the Final Appeals Committee except by its leave and discretion.

(C) The Claimant or a representative of the Plan Sponsor may request permission to appear personally or by teleconference before the Final Appeals Committee to present evidence with respect to the claim, subject to conditions and time limitations set by the Final Appeals Committee, but the expense for any such personal appearance must be borne by the Claimant or the Plan Sponsor.

(D) The Final Appeals Committee will decide a Claimant’s appeal, and its decision will be final. The decision will be implemented by the Administrator.

(E) The Claimant will be given a Notice of the decision on appeal. If the decision is a denial, such Notice will include specific reasons for the decision, written in a manner calculated to be understood by the Claimant, and specific references to the pertinent Plan provisions on which the decision is based. Such Notice will be mailed to the claimant by the Administrator within 15 days following the decision by the Final Appeals Committee.

(iii) Appeals Committees.

(A) The Intermediate Appeals Committee is a committee appointed by the Administrator.

(B) The Final Appeals Committee of the Administrator is a committee of the Board of Directors of the General Board that is selected from time to time by that Board.

(C) The Intermediate Appeals Committee and the Final Appeals Committee may each develop rules and procedures to govern its own meetings and actions and the filing and decision of claim appeals by Claimants.

- 134 -

(D) Any failure by either appeals committee to decide a claim appeal by the deadline for such a decision will be deemed a denial of the claim. The Claimant may then proceed to the next step of the procedure.

(E) Any failure by the Claimant to appeal any claim denial by the deadline for doing so will be deemed to be a final resolution of the claim, and the Claimant will be deemed to have waived his or her right to file an appeal or a further appeal or to pursue any other remedy, including filing a lawsuit.

(d) Appeal a Condition Precedent to Mandatory Arbitration. No cause of action in civil law with respect to any alleged violation of the terms and conditions of the Plan may be commenced or maintained by any Claimant or Accountholder. Any alleged violation of the terms and conditions of the Plan may be challenged by a Claimant or Accountholder under the mandatory arbitration provisions set forth in Section 12.18, but only after such Claimant or Accountholder has initiated and completed the claim and appeal process as set forth in subsections (a) and (c) above. Any such request for arbitration must be made within 12 months of the date on the Notice of denial described in paragraph (c)(ii)(E) above or such right to seek arbitration will be deemed waived; provided, however, that such 12-month limit will apply only if it is described in such Notice of denial.

10.12 Qualified Domestic Relations Orders. The provisions of Section 12.2 notwithstanding, all or part of a Participant’s Vested benefits arising under this Plan may be transferred to one or more Alternate Payees on the basis of a “qualified domestic relations order,” as that term is defined in Code §414(p), provided that: (1) such order was issued by a court having jurisdiction over the Administrator; or (2) such order was entered by any other court and the Administrator, in its sole discretion, determines that the order is a QDRO.

(a) When appropriate, the Administrator will provide a Participant involved in marital litigation with information regarding the nature and value of the Participant’s benefits and will assist the Participant and the court in interpreting that information.

(b) The Administrator will establish a written procedure to determine the qualified status of domestic relations orders and to administer distributions under such qualified orders. Such procedure will provide that during the period in which a determination is being made with respect to the qualified status of an order received by the Administrator and for 30 days thereafter:

(i) the Administrator will direct the Trustee to segregate and separately account for any sums payable to the Participant that the order requires or may require (if the order were to be determined to be a QDRO) to be paid to the Alternate Payee; and

(ii) the Participant will be prohibited from electing to receive any distribution that would compromise the rights granted to the actual or potential

- 135 -

Alternate Payee by the order, without such Alternate Payee’s written consent.

(c) Neither the Alternate Payee nor any person claiming through the Alternate Payee will have the right to transfer benefits to another Alternate Payee. The benefits transferred pursuant to a QDRO will be administered in accordance with the provisions of this Plan. No portion of a Participant’s Account Balance may be assigned to an Alternate Payee under a QDRO unless it is Vested. With respect to benefits transferred to an Alternate Payee pursuant to this Section, the Alternate Payee will have all of the rights and duties of a fully Vested Participant who has incurred a Termination of Employment, to the exclusion of any claim thereto on the part of the Participant. Notwithstanding the foregoing, an Alternate Payee may not roll amounts into the Plan from another plan or IRA.

(d) A subpoena or other instrument of judicial process that:

(i) is directed to the Administrator, its constituent corporations, or its officers or employees;

(ii) appears on its face to be issued in the course of marital litigation to which a Participant is a party; and

(iii) seeks information regarding the nature or value of the Participant’s pension benefits

may be honored by the Administrator, in its sole discretion, without interposing any defense on the grounds of technical or jurisdictional defect.

(e) The Administrator may charge to the Plan its costs of handling QDROs, including, but not limited to, attorneys’ fees, litigation expenses, and a reasonable charge for its services in connection therewith.

(f) All rights and benefits, including benefit and investment elections, provided to a Participant in this Plan will be subject to the rights afforded to any Alternate Payee under a QDRO. Further, a distribution to an Alternate Payee will be permitted if such distribution is authorized by a QDRO and this Section, even if the affected Participant has not incurred a Termination of Employment or a Termination of Conference Relationship or attained any particular age.

10.13 Use of Electronic Systems. Use of any electronic systems to access Plan Sponsor

account information is at Plan Sponsor’s sole risk. Neither Administrator not its vendors providing data, information or other services including, but not limited to, any exchange warrant that the service will be uninterrupted, error free or free from viruses or other harmful effects. Administrator does not warrant as to the accuracy of information obtained from any of these systems. Administrator will not be liable to Plan Sponsor or to any other person for any loss or damage arising from failure, inaccuracy, error or delay in transmission or delivery or omission of any data, information or message.

- 136 -

SECTION 11 – AMENDMENT, TERMINATION, AND MERGER OF PLAN

11.1 Amendment. The Board of Directors of the General Board may amend prospectively or retroactively any or all provisions of this Plan or the Adoption Agreement at any time by written instrument identified as an amendment of the Plan, effective as of a specified date. The Administrator may amend prospectively or retroactively any or all administrative or non-substantive provisions of an Adoption Agreement.

(a) The Plan Sponsor may amend any elective provisions of its Adoption Agreement at any time, but not more frequently than once every 12 months, with an effective date no earlier than the Effective Date, to any extent that it may deem advisable without the consent of any Accountholder. No such amendment may be retroactive without the consent of the Administrator, however.

(b) No amendment to the Plan may decrease an Accountholder’s Account balance. Furthermore, no amendment to the Plan may have the effect of decreasing an Accountholder’s Vested interest determined without regard to such amendment as of the later of the date such amendment is adopted or the date it becomes effective.

(c) No amendment may, without written consent of the Administrator or Trustee, deprive the Administrator or Trustee, respectively, of any of its exemptions and immunities; nor may such amendment change the duties, responsibilities, rights, or privileges of the Administrator or Trustee or the provisions of any contract. If any amendment by the Plan Sponsor affects the rights, duties, responsibilities, or obligations of the Administrator or Trustee hereunder, such amendment may be made only with the consent of the Administrator or Trustee.

(d) If the Plan (including the Adoption Agreement) is amended in any manner deemed unacceptable to a Plan Sponsor, that Plan Sponsor may freeze or terminate its participation in the Plan in accordance with Section 11.2. If the Plan Sponsor gives Notice of such freezing or termination within 30 days after it learns of a Plan amendment that it deems unacceptable, then either:

(i) the Administrator may withdraw or revise such amendment or re-amend the Plan so that the unacceptable elements of such amendment will not become effective as to such Plan Sponsor, or

(ii) the Plan Sponsor’s participation in the Plan may freeze or terminate on the day before the effective date of such amendment (or the date provided in Section 11.2, if earlier),

at the election of the Administrator (as conveyed to the Plan Sponsor in writing).

- 137 -

11.2 Termination of Plan Sponsorship. A Plan Sponsor’s sponsorship of the Plan may be frozen or terminated, effective on or after January 1, 2009, as follows:*

(a) Upon written notice to the Administrator 90 days in advance of the date of such freezing or termination, a Plan Sponsor may freeze or terminate its sponsorship of the Plan as established with the Administrator. In such a case, unless all Plan Sponsors terminate sponsorship of the Plan, the Plan will continue in operation as to all non-terminating Plan Sponsors. As a condition precedent to its right to freeze or terminate sponsorship of the Plan, a Plan Sponsor must provide written notice of its intent to its Participants 30 days in advance of the proposed date of such freezing or termination, and must provide to the Administrator evidence of such written notice to the affected Participants.

(b) Upon written notice to a Plan Sponsor:

(i) at least 90 days in advance of the date of such freezing or termination, the Administrator may freeze or terminate a Plan Sponsor’s sponsorship of the Plan for breach of the Plan’s provisions or for late remittance or non-remittance of Contributions to the Administrator. The Plan Sponsor will have the right to correct such noncompliance and continue sponsorship of the Plan if the correction process is completed no later than 30 days before the effective date of freezing or termination. In the case of such a freezing or termination, the Administrator will provide Notice of the freezing or termination to affected Accountholders.

(ii) at least 30 days in advance of the date of such discontinuance, the Administrator, in its discretion, effective on or after July 1, 2012, may unilaterally discontinue an Adoption Agreement of a Plan Sponsor when no Contributions have been made to any of the Accounts of Active Participants enrolled under the Adoption Agreement during a period determined from time to time by the Administrator; provided, however, that any other Adoption Agreement that such Plan Sponsor maintains need not be discontinued, and that such Plan Sponsor is not prohibited from re-adopting the Plan at some later time when Contributions will be made.

(iii) with no advance notice (or on a named date), the Administrator, in its discretion, may discontinue an Adoption Agreement of a Plan Sponsor when such Plan Sponsor ceases to be either:

(A) a Code §501(c)(3) organization or a person who normally works at least 500 hours per year as a self-employed minister within the meaning of Code §414(e)(5)(A)(i)(I); or

(B) an organization controlled by or associated with The United Methodist Church or an autonomous affiliated church.

* Before January 1, 2009, Plan Sponsor termination did not necessarily require an immediate distribution of

Accounts.

- 138 -

If sponsorship of the Plan by a Plan Sponsor is frozen as provided in subsections (a) or (b) above, the Accounts of the Accountholders related to that Plan Sponsor will remain with the Plan, held by the Trustee for the benefit of such Accountholders, unless they are merged into another plan in accordance with Section 11.5, transferred from the Plan in accordance with the rollover provisions of the Plan, or otherwise transferred from the Plan in accordance with the provisions of the Plan or law. If sponsorship of the Plan by a Plan Sponsor is terminated as provided in subsections (a) or (b) above, the Accounts of the Accountholders related to that Plan Sponsor will be distributed to such Accountholders as soon as practicable, unless they are merged into another plan in accordance with Section 11.5, transferred from the Plan in accordance with the rollover provisions of the Plan, or otherwise transferred from the Plan in accordance with the provisions of the Plan or law. Each affected Accountholder will have a 100% Vested interest in his or her Account in accordance with the terms of the Plan as then in effect. Any amounts due from the Plan Sponsor under the Plan at the time of the freezing or termination of the Plan Sponsor’s sponsorship will continue to be due in accordance with the terms of the Plan until paid. Any amounts in the Plan Sponsor’s Forfeiture Account will be:

(1) first, used to satisfy any Contributions due, but unpaid, to the Account of any Accountholder related to the Plan Sponsor; and

(2) second, to the extent any amounts remain thereafter in the Forfeiture Account, returned to the freezing or terminating Plan Sponsor.

With respect to Accounts remaining with the Plan, the former sponsoring Plan Sponsor will provide a timely Notice to the Administrator concerning any Accountholder’s eligibility to receive benefits under the terms of the Plan. The Trustee will have the responsibility to make distributions of benefits to such Accountholders in accordance with the terms of the Plan as though the former Plan Sponsor remained the Plan Sponsor. Notwithstanding any references by a Plan Sponsor, the Administrator, or the Trustee to termination of Plan sponsorship or termination of the Plan, all actions under this Section will be deemed not to be a termination of the Plan with respect to a Plan Sponsor unless the Accounts related to that Plan Sponsor are distributed to Accountholders in accordance with Regulation §1.403(b)-10(a)(1).

11.3 Termination of the Plan.*

(a) Board of Directors. Effective January 1, 2009, the Board of Directors of the General Board has the right to freeze or terminate the Plan and/or the Trust at any time by giving 90 days advance written notice to all Plan Sponsors. Upon freezing or termination of the Plan, the Accounts of Accountholders will be nonforfeitable and either will be distributed outright (must be done in the case of termination under Regulation §1.403(b)-10(a)(1)) or will be held for distribution in accordance with the terms of the Plan, as determined by the Board of Directors or the Administrator. Termination of the Trust will require a distribution to all

* Before January 1, 2009, Plan termination did not necessarily require an immediate distribution of Accounts.

- 139 -

Accountholders unless a successor Trust is adopted. The assets remaining in the Plan, if any, after all obligations of the Plan have been satisfied will be distributed pursuant to action by the Board of Directors.

(b) General Conference. Effective January 1, 2009, General Conference has the right to freeze or terminate the Plan and/or the Trust at any time in a manner and to the extent not inconsistent with the Discipline. Upon freezing or termination of the Plan, the Accounts of Accountholders will be nonforfeitable and either will be distributed outright (must be done in the case of termination under Regulation §1.403(b)-10(a)(1)) or will be held for distribution in accordance with the terms of the Plan. Termination of the Trust will require a distribution to all Accountholders unless a successor Trust is adopted. The assets remaining in the Plan, if any, after all obligations of the Plan have been satisfied will be distributed pursuant to action by the General Conference.

11.4 Continuation by a Successor or Purchaser. The Plan and the Trust will not freeze or terminate with respect to a Plan Sponsor in the event of dissolution, merger, consolidation, or reorganization of the Plan Sponsor or sale by a Plan Sponsor of its entire assets or substantially all of its assets if arrangements are made in writing, with the consent of the Administrator, between the Plan Sponsor and any successor to the Plan Sponsor or purchaser of all or substantially all of its assets whereby such successor or purchaser will continue the Plan. If such arrangements are made, then such successor or purchaser will be substituted for the Plan Sponsor under the Plan.

11.5 Plan Merger, Consolidation, or Transfer.

(a) If a Plan Sponsor wishes to merge the value of all or some of its Participants’ Accounts with or consolidate or transfer them into another Code §403(b) plan or Code §401(a) plan that is a Church Plan and remove them from this Plan, the Plan Sponsor must first terminate its sponsorship of this Plan in accordance with Section 11.2. Upon the Plan Sponsor’s compliance with the provisions of Section 11.2, the assets held under this Plan allocable to such Participants will be transferred to such other fund only if:

(i) The Trustee agrees to such merger, consolidation, or transfer;

(ii) Each affected Participant would receive a benefit immediately after the merger, consolidation, or transfer that is equal to or greater than the benefit such Participant would have been entitled to receive immediately before such merger, consolidation, or transfer if this Plan had then terminated; and

(iii) Resolutions of the board of trustees or directors of the Plan Sponsor and the board of trustees or directors of any new or successor employer of all affected Participants authorizes such transfer of assets; provided, the resolutions of any such new or successor employer will include an assumption of all liabilities related to such Participants’ inclusion in such

- 140 -

new or successor plan. In the case of unincorporated Plan Sponsors or other employers, binding action comparable to resolutions of a board of trustees or directors may be substituted.

(b) The Administrator will direct the Trustee to transfer the aggregate of the value of the affected Participants’ Accounts held by the Trustee to the funding agency or trust for the other plan, as specified by the Plan Sponsor within six months after the effective date of such merger, consolidation, or transfer. The Accounts of:

(i) any Participants not affected by the merger, consolidation, or transfer; and

(ii) Accountholders other than Participants

will not be transferred, and such Accountholders will retain their Accounts in this Plan.

(c) The Administrator may require a release and indemnity agreement, and any other Forms the Administrator may deem necessary, from the Plan Sponsor before any assets held by the Trustee are merged, consolidated, or transferred as provided in this Section.

(d) Any merger, consolidation, or transfer of assets made under this Section may be made in whole or in part in cash, securities, nontransferable annuity contracts, or such other Form as the Trustee in its sole discretion may determine, so long as no discrimination in value results.

(e) With the consent of the Trustee, an adopting Plan Sponsor may merge, consolidate, or transfer all or a portion of a Church Plan that is a Code §403(b)(1), §403(b)(7), §403(b)(9), or §401(a) plan into this Plan. The assets of the other plan will be transferred to the Trustee in the manner prescribed by the Trustee. This Plan will be the surviving plan, and all provisions of the Plan and all rules, regulations, and interpretations of the Plan will be applied to and will control the provisions of the former plan, except to the extent special rules or regulations are adopted under this Plan for the purpose by the Administrator. Before the merger, consolidation, or transfer into the Plan is undertaken, the Administrator may require the prospective Plan Sponsor and/or the trustee or custodian of the assets in the other 403(b) plan to certify that:

(i) such other plan is, immediately before such merger, consolidation, or transfer, to the best of the certifier’s knowledge, a qualified 401(a), 403(b)(1), §403(b)(7), or 403(b)(9) plan;

(ii) no participant whose account balance is to be merged, consolidated, or transferred into the Plan will suffer any reduction or loss of his or her account balance or accrued benefit as a result of the merger, consolidation, or transfer; and

- 141 -

(iii) the certifier is authorized to effectuate the merger, consolidation, or transfer

and to indemnify the Administrator and Trustee to the extent that any such certification is inaccurate and leads to liability on behalf of the Administrator or Trustee.

- 142 -

SECTION 12 - GENERAL PROVISIONS

12.1 Rules and Forms. The Administrator will have the authority and responsibility to:

(a) adopt rules, regulations, and policies for the administration of this Plan, in all matters not specifically covered by General Conference legislation or by reasonable implication; and

(b) prescribe such Forms and records as are needed for the administration of the Plan.

12.2 Non-Alienation of Benefits. No benefits payable at any time under the Plan will be subject in any manner to alienation, sale, transfer, pledge, attachment, garnishment, or encumbrance of any kind, except as provided below. Any attempt to alienate, sell, transfer, assign, pledge, or otherwise encumber such benefit, whether presently or thereafter payable, will be void, except as provided below. No benefit nor any fund under the Plan will in any manner be liable for, or subject to, the debts or liabilities of any Accountholder or other person entitled to any benefit, except:

(a) as provided in Section 10.12;

(b) to the extent of a levy in favor of the IRS as permitted by Regulations;

(c) for the payment of retiree or Disabled Participant health plan premiums;

(d) to the extent that such Accountholder has received an overpayment under any other plan administered by the Administrator; or

(e) to the extent that such Accountholder has made a voluntary and revocable assignment:

(i) in a writing filed with, and accepted by, the Administrator;

(ii) that is acceptable to the Administrator; and

(iii) after such assigned benefit is due and payable under the terms of the Plan, including the making of any elections and submission of any applications required of the Accountholder.

12.3 Non-Reversion. All amounts contributed to the Plan by a Plan Sponsor or Salary-Paying Unit are irrevocable contributions except to the extent provided below. The Plan Sponsors and Salary-Paying Units have no right, title, or interest in the assets of the Plan or the Trust and no portion of the Trust or the assets of the Plan or interest therein may at any time revert to or be repaid to the Plan Sponsors or Salary-Paying Units, except as otherwise provided below:

(a) Upon termination of:

(i) the Plan; or

- 143 -

(ii) a Plan Sponsor’s sponsorship of the Plan as provided in Section 11.2,

any assets remaining, after the satisfaction of all fixed and contingent liabilities by the payment of all such liabilities due, the transfer, merger, or spinoff of such liabilities and appropriate assets to another plan, and/or the annuitization of any remaining liabilities with an insurance or annuity provider selected by the Administrator, may revert to the applicable Plan Sponsor;

(b) If a contribution is made to the Plan by the Plan Sponsor or Salary-Paying Unit by a mistake of fact, then such contribution will be returned to the Plan Sponsor or Salary-Paying Unit (adjusted for any losses, but not for any gains unless permitted under applicable Code provisions and IRS guidance) to the extent permitted under any applicable correction program (such as to restore a situation that existed before an error) if:

(i) the Plan Sponsor or Salary-Paying Unit requests its return in a Notice to the Administrator received within a period after the contribution was made that, under all the facts and circumstances, is deemed by the Administrator to be reasonable after considering any applicable IRS guidance;

(ii) the Plan Sponsor or Salary-Paying Unit documents such mistake to the satisfaction of the Administrator; and

(iii) such contribution is still on Account with the Plan; and

(c) If a contribution is sent to the Plan by a Plan Sponsor or Salary-Paying Unit that the Administrator determines within 30 days is an error or a mistake, the Administrator will not accept the payment as a Contribution to the Plan and will return the payment (or an amount equal to it) to the Plan Sponsor or Salary-Paying Unit.

12.4 Construction. The Plan and each of its provisions will be construed under, and their validity determined by, the laws of the State of Illinois, other than its laws respecting choice of law, to the extent such laws are not preempted by any federal law.

12.5 Limitation of Liability. All benefits hereunder are contingent upon, and payable solely from the assets of the Trust, which derive from such contributions as may be received by the Trustee and the investment results of the Trustee. No financial obligations, other than those that can be met by the contributions actually received and the investment results, reduced by any of the Administrator’s or Trustee’s expenses or charges against the Trust’s assets, will be assumed by the Administrator or the Trustee. To the extent that assets of the Plan attributable to an Accountholder have been transferred to a separate dedicated trust, all benefits to which the Accountholder is entitled under the Plan will be provided only out of such trust and only to the extent the trust is adequate therefor. Further, if the Trustee segregates Trust assets within the Plan, all benefits to which an Accountholder is entitled under the Plan will be provided only out of such segregated portion of the Trust and only to the extent such segregated portion is adequate therefor.

- 144 -

None of the Administrator, the Trustee, or their officers, employees, contractors, or agents will be personally responsible or otherwise liable for the payment of any benefits hereunder.

12.6 Alternative Dispute Resolution. If a dispute arises out of or related to the relationship between any Plan Sponsor and the Administrator or Trustee that is not resolved by the parties themselves, the parties agree first to try in good faith to settle the dispute by mediation through the American Arbitration Association, or another mediation/arbitration service mutually agreed upon by the parties, before resorting to arbitration. Thereafter, any remaining unresolved controversy or claim arising out of or relating to the relationship between the Plan Sponsor and the Administrator or Trustee will be settled by binding arbitration through the American Arbitration Association, or the other mediation/arbitration service mutually agreed upon by the parties.

(a) The site of the mediation and/or arbitration will be in a city mutually agreed to by the parties.

(b) The laws of the State of Illinois will apply in situations where federal law is not applicable. The applicable rules of the selected arbitration service will apply. If the service allows the parties to choose the number of arbitrators, unless another number is mutually agreed to, any arbitration hereunder will be before three arbitrators. The award of the arbitrators, or a majority of them, will be final. Judgment upon the award rendered may be entered in any court, state or federal, having jurisdiction.

(c) The fees and costs for mediation will be borne equally by the parties. The fees and costs of arbitration will be allocated to the parties by the arbitrators.

12.7 Titles and Headings. The titles and headings of the Sections of this instrument are placed herein for the convenience of reference only, and in the case of any conflicts, the text of this Plan, rather than the titles or headings, will control.

12.8 Number and Gender. Wherever used herein, the singular includes the plural and the plural includes the singular, except where the context requires otherwise. Similarly, the male includes the female and vice versa.

12.9 USERRA. Notwithstanding any provision of the Plan to the contrary, contributions, benefits, and Service credit with respect to qualified military service will be provided in accordance with USERRA.

12.10 Participant, Beneficiary, and Accountholder Duties. Each person entitled to benefits under the Plan must file with the Administrator and Plan Sponsor from time to time such person’s post office address and each change of post office address. Failure to do so may result in the forfeiture of benefits otherwise due under the Plan.

12.11 Adequacy of Evidence. Evidence that is required of anyone under the Plan must be executed or presented by proper individuals or parties and may be in the form of

- 145 -

certificates, affidavits, documents, or other information that the person acting on such evidence considers pertinent and reliable.

12.12 Notice to Other Parties. A Notice mailed first class, postage prepaid, to an Accountholder at his or her last address filed with the Administrator will be binding on the Accountholder for all purposes of the Plan and will be deemed given on the date on the Notice. A claim for benefits, a beneficiary designation, or other Notice mailed first class, postage prepaid, from an Accountholder to the Administrator will be deemed given on the date of the postmark. Any party may also give a Notice as otherwise permitted under the Plan, and the Administrator may establish rules relating to Notices, including when and how they may be given. Notices may be addressed to the Plan Administrator at the following address (or such other address as the Administrator may designate from time to time):

Plan Administrator of the United Methodist Personal Investment Plan General Board of Pension and Health Benefits of The United Methodist Church 1901 Chestnut Avenue Glenview, IL 60025-1604

12.13 Waiver of Notice. Any Notice under the Plan may be waived by the person entitled to such Notice. Acknowledgement of receipt of a Notice will be deemed a waiver of any failures relating to the Plan-required means of giving such Notice (but will not necessarily be deemed a waiver of the timeliness of such Notice). Waiver of notice in one instance, however, will not be deemed to be a waiver in a later instance.

12.14 Successors. This Plan is binding on the Plan Sponsors, and on all persons entitled to benefits hereunder, and their respective successors, heirs, and legal representatives.

12.15 Severability. If any provision of the Plan is held illegal or invalid for any reason, such illegal or invalid provision will not affect the remaining provisions of the Plan, and the Plan will be construed and enforced as though such illegal or invalid provision had never been contained in the Plan.

12.16 Supplements. The Plan may be amended from time to time as provided in Section 11.1 by adding one or more Supplements to the Plan to address special situations not applicable to all Plan Sponsors or to all Employees, Participants, Beneficiaries, or Accountholders. Any such Supplement will specify the Plan Sponsors and persons covered and any special rules or benefits related to them. To the extent that any such rules or benefits are in conflict with the general provisions of the Plan, such rules or benefits will supersede the general provisions of the Plan as to the persons covered by the Supplement to the extent they are in conflict with such general provisions. Except as otherwise provided in a Supplement, all of the provisions of the Plan will apply to the persons covered by the Supplement.

12.17 Change in Classification. A Clergy Employee may cease to be a Clergyperson or may continue as a Clergyperson but may cease to be Appointed to a ministry with a Plan Sponsor. If such a person remains employed by a Plan Sponsor as an Employee other

- 146 -

than a Bishop, such person will be reclassified as a Lay Employee. Similarly, a Lay Employee may qualify as a Clergyperson or may already be a Clergyperson and may be Appointed to work for a Plan Sponsor. In such case, the Lay Employee will be reclassified as a Clergy Employee. The intent of the Plan is to continue to cover Employees who change classification from Clergy Employee to Lay Employee or vice versa without interruption. Contributions will continue to be made. The right to receive benefits from the Plan will be governed by the Participant’s status when such Participant is eligible for such benefits. Specific provisions throughout the Plan govern any specific situations addressed therein.

12.18 Mandatory Arbitration. Individuals who become or claim to be a Participant or Accountholder in the Plan agree, by electing to make Participant Contributions, choosing not to opt out of Automatic Enrollment, or filing any form related to the Plan with the Administrator, to be bound by the mandatory arbitration provisions of this Section, in consideration for the Administrator and Trustee also agreeing to be bound by such provisions. If a claim for benefits or dispute that arises out of or related to the relationship between a Claimant or Accountholder and the Administrator or Trustee is not resolved through the claims and appeals procedures of Section 10.11 once such procedures are fully exhausted, the party that seeks resolution of the matter must make a written request to the other party or parties to have the matter resolved through binding arbitration. Claimants or Accountholders must make such written request within the timeframe set forth under Section 10.11(d) or, for matters not involving a claim for benefits, within one year of the date that the facts giving rise to the dispute arose. If the Administrator or Trustee is making such request to a Claimant or Accountholder, the request must be made within 12 months of discovery of the facts that give rise to the dispute. Such claim for benefits or unresolved controversy or claim arising out of or relating to the relationship between a Claimant or Accountholder and the Administrator or Trustee will be settled by binding arbitration through the American Arbitration Association, or another arbitration service mutually agreed upon by the parties. The abuse of discretion standard of review will be used by the arbitrator(s) in reviewing the dispute and the Administrator’s decisions under the claims and appeals procedures of Section 10.11.

(a) The site of the arbitration will be in a city mutually agreed to by the parties.

(b) The laws of the State of Illinois will apply in situations where federal law is not applicable. The applicable rules of the selected arbitration service will apply. If the service allows the parties to choose the number of arbitrators, unless another number is mutually agreed to, any arbitration hereunder will be before three arbitrators. The award of the arbitrators, or a majority of them, will be final. Judgment upon the award rendered may be entered in any court, state or federal, having jurisdiction.

(c) The fees and costs of arbitration will be allocated to the parties by the arbitrators.

- 147 -

Supplement One to the


CUMULATIVE PENSION AND BENEFIT FUND S1.1 History. General Conference authorized the establishment of CPBF in or about August

1972. Effective as of various dates thereafter, General Conference amended CPBF. On January 1, 1998, General Conference amended and restated CPBF. The General Board also amended CPBF at various times. Effective on January 1, 2006, the General Board amended and restated CPBF as part of this Plan.

S1.2 Frozen Plan. In connection with the amendment and restatement of CPBF as the Plan as of January 1, 2006, CPBF is hereby frozen as of December 31, 2005. CPBF, as it existed on December 31, 2005, is hereby incorporated in this Supplement One by this reference for the purpose of resolving any questions or issues relating to CPBF for the period before January 1, 2006. No further contributions to CPBF will be earned under this Supplement One after December 31, 2005 for any past, present, or future CPBF Participant, except for contributions due under CPBF relating to periods on or before December 31, 2005. After December 31, 2005:

(a) interest, earnings, and losses may still accrue on the investments in a CPBF Participant’s Account under this Supplement One; and

(b) benefits currently being paid or due under CPBF may continue to be paid in the same form and amount, and to the same Accountholders or annuitants, as was previously the case,

subject to the transfer described in Section S1.3.

S1.3 Transfer of CPBF Accounts.

(a) Transfer of Account Balances. In the case of any part of a Participant’s or Accountholder’s Final CPBF Account Balance that, as of January 1, 2006, has not yet been distributed to the Participant or other Accountholder, whether or not such Participant or Accountholder was then entitled to a distribution of such Account Balance, such Final CPBF Account Balance will be transferred to the Unsupplemented Plan in accordance with Section 4.8.

(b) After Transfer Treatment. After the transfer described in Section S1.3(a) above has been completed, all investment decisions, distribution procedures, and any other matters related to such transferred Final CPBF Account Balances will be governed by the terms of the Unsupplemented Plan, without reference to this Supplement One or CPBF, except as otherwise provided in Section S1.3(d) below.

- 148 -

(c) Accounting. After the transfer described in Section S1.3(a) above, a CPBF Participant’s or other Accountholder’s Final CPBF Account Balance will be accounted for under the Unsupplemented Plan as part of his or her Conditional Contribution Account under the Unsupplemented Plan, as the Administrator determines most nearly matches the character of the CPBF contributions that were transferred. The Administrator may, but need not, account for such transferred amounts separately from other amounts in such Participant’s or other Accountholder’s Conditional and/or Non-Matching Contribution Accounts.

(d) Equitable Correction. When, because of a Participant’s death just before January 1, 2006, a delayed CPBF plan sponsor contribution, or some other circumstance, a timely calculation or transfer of a Final CPBF Account Balance is difficult or impossible, or, when such a transfer, having once been made, later appears not to have been properly transferred in accordance with this Section S1.3 in light of later-acquired information or the discovery of an administrative error, then the Administrator will make an equitable correction of the situation.

(e) Before Transfer Investment. Any CPBF assets that have not yet been transferred as provided in Section S1.3(a) above (or have been transferred back to this Supplement One or CPBF as provided in Section S1.3(d) above) will be invested as determined by the Trustee.

S1.4 CPBF Annuities. Any CPBF Participant or annuitant who, on December 31, 2005 was receiving an annuity under CPBF, will continue to receive such annuity under this Supplement One on and after January 1, 2006. Such annuity will continue to be paid in the same form and amount, and to the same annuitants and contingent annuitants, as were previously provided for under CPBF. The Administrator may elect to purchase one or more annuities from an insurer or other annuity provider to provide the annuities due under CPBF or this Supplement One. Once all such annuities have been contracted out to such insurer(s) or other annuity provider(s), then only such insurer(s) or other annuity provider(s) will be responsible for providing such annuities and annuity payments, and none of the Plan, CPBF, any CPBF plan sponsor, any Plan Sponsor, the Administrator, or the Trustee will be responsible for such annuities or annuity payments.

S1.5 CPBF Funding. Assets of CPBF will be held as part of this Supplement One until:

(a) the transfer described in Section S1.3(a) is made, at which point the transferred assets will be treated as part of the Unsupplemented Plan;

(b) annuities are outsourced as provided in Section S1.4, at which point the necessary premiums for such annuities will be transferred to the insurer or other annuity provider; and

(c) all CPBF Participant accounts and benefits, and those of their beneficiaries, annuitants, and successors, are paid or transferred as provided in Sections S1.5(a) and (b) above, at which point any remaining CPBF assets will be disposed of as provided in CPBF.

- 149 -

S1.6 Termination of CPBF. Once all the transfers described in Section S1.3 are completed, CPBF and this Supplement One will automatically terminate and become a nullity except to the extent that they are needed to:

(a) pay annuities under Section S1.4 before they are contracted out;

(b) cure errors in the computation or determination of benefits due under this Supplement One or CPBF; or

(c) accept and adjudicate a claim (or appeal) for benefits due under this Supplement One or CPBF.

- 150 -

Supplement Two to the


PERSONAL INVESTMENT PLAN S2.1 History. PIP was established effective January 1, 1998, by the General Board under

authority granted by General Conference. General Conference had previously authorized the establishment of CPBF, the Ministerial Pension Plan, and the Staff Retirement Benefits Program. Effective January 1, 1998, the clergy and employee accounts under those plans were transferred to and became a part of PIP. Thereafter, the General Board amended PIP at various times. Effective on January 1, 2006, the General Board amended and restated PIP as part of this Plan.

S2.2 Frozen Plan. In connection with the amendment and restatement of PIP as the Plan as of January 1, 2006, PIP is hereby frozen as of December 31, 2005. PIP, as it existed on December 31, 2005, is hereby incorporated in this Supplement Two by this reference for the purpose of resolving any questions or issues relating to PIP for the period before January 1, 2006. No further contributions to PIP will be made under this Supplement Two after December 31, 2005 for any past, present, or future PIP Participant, except for contributions due under PIP relating to periods on or before December 31, 2005. After December 31, 2005:

(a) interest, earnings, and losses may still accrue on the investments in a PIP Participant’s Account under this Supplement Two; and

(b) benefits currently being paid or due under PIP may continue to be paid in the same form and amount, and to the same Accountholders or annuitants, as was previously the case,

subject to the transfer described in Section S2.3.

S2.3 Transfer of PIP Accounts.

(a) Transfer of Account Balances. In the case of any part of a Participant’s or Accountholder’s Final PIP Account Balance that, as of January 1, 2006, has not yet been distributed to the Participant or other Accountholder, whether or not such Participant or Accountholder was then entitled to a distribution of such Account Balance, such Final PIP Account Balance will be transferred to the Unsupplemented Plan.

(b) After Transfer Treatment. After the transfer described in Section S2.3(a) above has been completed, all investment decisions, distribution procedures, and any other matters related to such transferred Final PIP Account Balances will be governed by

- 151 -

the terms of the Unsupplemented Plan, without reference to this Supplement Two or PIP, except as otherwise provided in Section S2.3(d) below.

(c) Accounting. After the transfer described in Section S2.3(a) above, a PIP Participant’s or other Accountholder’s Final PIP Account Balance will be accounted for under the Unsupplemented Plan as part of his or her Participant Contribution Account under the Unsupplemented Plan as Before-Tax Contributions, After-Tax Contributions, and/or QVEC Contributions, as the Administrator determines matches the character of the PIP contributions that were transferred. The Administrator may, but need not, account for such transferred amounts separately from other amounts in such Participant’s or other Accountholder’s Participant Contribution Account.

(d) Equitable Correction. When, because of a Participant’s death just before January 1, 2006, a delayed PIP contribution, or some other circumstance, a timely calculation or transfer of a Final PIP Account Balance is difficult or impossible, or, when such a transfer, having once been made, later appears not to have been properly transferred in accordance with this Section S2.3 in light of later-acquired information or the discovery of an administrative error, then the Administrator will make an equitable correction of the situation.

(e) Before Transfer Investment. Any PIP assets that have not yet been transferred as provided in Section S2.3(a) above (or have been transferred back to this Supplement Two or PIP as provided in Section S2.3(d) above) will be invested as provided under PIP.

S2.4 PIP Annuities. Any PIP Participant or annuitant who, on December 31, 2005 was receiving an annuity under PIP, will continue to receive such annuity on and after January 1, 2006 under this Supplement Two. Such annuity will continue to be paid in the same form and amount, and to the same annuitants, as were previously provided for under PIP. The Administrator may elect to purchase one or more annuities from an insurer or other annuity provider to provide the annuities due under PIP or this Supplement Two. Once all PIP annuities have been contracted out to such insurer(s) or other annuity provider(s), then only such insurer(s) or other annuity provider(s) will be responsible for providing such annuities and annuity payments, and none of the Plan, PIP, any PIP plan sponsor, any Plan Sponsor, the Administrator, or the Trustee will be responsible for such annuities or annuity payments.

S2.5 PIP Funding. Assets of PIP will be held as part of this Supplement Two until:

(a) the transfer described in Section S2.3(a) is made, at which point the transferred assets will be treated as part of the Unsupplemented Plan;

(b) annuities are outsourced as provided in Section S2.4, at which point the necessary premiums for such annuities will be transferred to the insurer or other annuity provider; and

- 152 -

(c) all PIP Participant accounts and benefits, and those of their beneficiaries and successors, are paid or transferred as provided in Sections S2.5(a) and (b) above, at which point any remaining PIP assets will be disposed of as provided in PIP.

S2.6 Termination of PIP. Once all the transfers described in Section S2.3 are completed, PIP and this Supplement Two will automatically terminate and become a nullity except to the extent that they are needed to:

(a) pay annuities under Section S2.4 before they are contracted out;

(b) cure errors in the computation or determination of benefits due under this Supplement Two or PIP; or

(c) accept and adjudicate a claim (or appeal) for benefits due under this Supplement Two or PIP.

- 153 -

Supplement Three to the


CENTRAL CONFERENCE BISHOPS S3.1 Central Conference Bishop. In this Supplement Three, the term “Central Conference

Bishop” means a person selected as a bishop of a central conference as provided in ¶¶46, 405, 543.2, or 543.3 of the Discipline.

S3.2 Eligible Employees. When covered by an Adoption Agreement executed by GCFA as Plan Sponsor, Central Conference Bishops may be covered under this Supplement Three as of January 1, 2006 for Participant Contributions only. No other employee of a central conference is eligible for coverage under this Supplement Three or the Unsupplemented Plan.

S3.3 Plan Operation. It is the intent of this Supplement Three to operate in a parallel fashion to the Unsupplemented Plan as though Central Conference Bishops were Bishops of a Jurisdictional Conference, subject to rules adopted from time to time by the Administrator to take account of differences caused by the way the Discipline or secular law apply to Central Conference Bishops compared to the way the Unsupplemented Plan applies to Bishops.

IN WITNESS WHEREOF, pursuant to authority delegated to the undersigned officer of the General Board by various resolutions of the Board of Directors of the General Board, the foregoing United Methodist Personal Investment Plan is hereby restated as of January 1, 2017. Date: 12/20/2017 By:/s/ Andrew Hendren Andrew Hendren General Counsel General Board of Pension and Health Benefits of The United Methodist Church, Incorporated in Illinois

- 154 -

Amendment One to the United Methodist Personal Investment Plan

The General Board of Pension and Health Benefits of The United Methodist Church, Incorporated in Illinois, d/b/a Wespath Benefits and Investments (“Wespath”), maintains and administers the United Methodist Personal Investment Plan (the “Plan”). In accordance with Section 11.1 of the Plan and resolutions of the Board of Directors of Wespath adopted on or about January 26, 2018 and May 11, 2018, the Plan is hereby amended, effective January 1, 2018. Certain sections of the Plan are amended as described below. Added text appears in bold font and deleted text appears in strike-through font. Amend Section 1.8 by adding a new subsection (e) to read as follows:

(e) Continuing Sponsorship of Former Local Churches. If a Local Church that sponsors the Plan ceases to meet the definition of a Local Church and also is no longer described in subsection (a)(i)(A) above, such entity will remain eligible to sponsor the Plan, provided that the limit on plan participants described in Code section 414(e)(2)(B) is not exceeded.

Amend the last paragraph of Section 2.42, which follows subsection (c), to read as follows:

Notwithstanding the foregoing, any moving expense payments or moving expense reimbursements provided to Participants are excluded from Compensation. The Compensation of a Participant taken into account for any Contributions made with respect to any Plan Year beginning after December 31, 2009, may not exceed $245,000, as adjusted for cost-of-living increases in accordance with Code §401(a)(17)(B) ($275,000 in 2018). Effective January 1, 2008, the limit in the foregoing sentence (as it applies or applied for any year) applies only to Participants whose Plan Sponsors are Non-QCCOs.

Amend Section 8.10(e)(ii) to read as follows:

(ii) the greater of:

(1) one-half of the Sponsor Account Balance (excluding any QVEC Account) of the Participant at the time the loan is approved; or

(2) $10,000.

* * * Amend Section 10.4 by adding a new subsection (h), and re-lettering subsections as necessary, to read as follows:

- 155 -

(h) to receive personal data, including name, date of birth, address, Social Security number, marital/family status, and other similar information about Participants or Beneficiaries (“Personal Data”), and use or disclose such information solely for purposes of administering the Plan, including the sharing with vendors, unless additional use or disclosure is required or permitted under the Plan, Adoption Agreement or by applicable law. The Administrator will safeguard Personal Data in accordance with its privacy policy;

IN WITNESS WHEREOF, the foregoing Amendment to the Plan is hereby adopted by Wespath, effective January 1, 2018, except where indicated otherwise.

General Board of Pension and Health Benefits of The United Methodist Church, Incorporated in Illinois

By: /s/ Andrew Hendren Name: Andrew Q. Hendren Title: General Counsel

Date: 12/28/2018

Documents

United Methodist Personal Investment Plan - Wespath · 2.83 Final PIP Account Balance ... S1.1 History ..... 147 S1.2 Frozen Plan ... The United Methodist Personal Investment Plan