BB&N 403(b) Special Schedule 2022

1 Schedule Buckingham Browne & Nichols School DC Retirement Plan This Schedule contains terms which supplement provisions in the Adoption Agreement and is effective as June 1, 2022 (the “Effective Date”) except where otherwise stated. It is an integral part of the Plan document. References (#) are to Sections in the Adoption Agreement (“AA”). #7(m). Excluded Employees. Elective Deferrals The Plan will no longer exclude employees who “normally work less than 20 hours per week” from making Elective Deferrals. All employees, regardless of work schedule or job class, may make Elective Deferrals. This provision goes into effect for the first payroll period ending in June, 2022. Employer Contributions (all types) The Plan will no longer exclude employees who “normally work less than 20 hours per week” from Employer Contributions. Employees in job categories with this expectation of limited hours are Limited Participation Employees who may be allocated Employer contributions, but only for Plan Years in which they qualify for Allocation Conditions. (See #14(i) for dfn. of Limited Participation Employees, and #28(b) for Allocation Conditions.) #10(j) Excluded Compensation For all purposes the Plan provides that compensation in excess of base salary or basic earnings is excluded, meaning bonuses, pay for overtime hours, and non-cash taxable items (such as for group insurance, if taxable). Stipends are also excluded, except that they are included for employees whose compensation consists solely or mostly in stipends. #14(i) Eligibility Rules for Full and Limited Participation Employer Contributions (all types) - Full Participation Employees An Employee is a Full Participation Employees for any Plan Year in which the Employee is not a Limited Participation Employee. - Limited Participation Employees are: - Seasonal Coaches (regardless of scheduled hours) - Summer Counsellors (regardless of scheduled hours) - Substitute Teachers paid on a per diem basis (regardless of scheduled hours) 386792