Eligibility and Enrollment

Naming a Beneficiary

You need to name a beneficiary, or beneficiaries, to receive your Plan Account (as defined in Plan Contributions and Contribution Limits) if you die before the balance in your Plan Account is paid to you.

You may name as your beneficiary a charity, any living person or a trust on behalf of any living person. However, if you are married, your Spouse is automatically your beneficiary.

Key Term Your Spouse is the individual to whom you are legally married for federal tax purposes.

To name someone other than your Spouse as your primary beneficiary, you must obtain your Spouse’s written, notarized consent. If you name a non-Spouse as your beneficiary and are later married, your new Spouse automatically becomes your beneficiary unless you have your new Spouse’s written, notarized consent to name someone else.

If you submitted a beneficiary designation form naming your Spouse as your beneficiary, and you and that Spouse subsequently divorce, your former Spouse will remain your named beneficiary. If you wish to change your named beneficiary from your former Spouse to anyone else (including, for example, your current Spouse if you remarry), you must submit a new named beneficiary designation. If you remarry and choose to name anyone other than your current Spouse as your new beneficiary, your current Spouse must provide written notarized consent to the new beneficiary designation.

If you name more than one beneficiary, your benefit will be divided equally among all named beneficiaries unless your designation provides otherwise.

If your beneficiary is a minor or someone who lacks capacity to handle his/her own affairs, your benefits will be paid to the minor’s guardian, or to another person designated by the Plan Administrator, for the benefit of such minor. Any payment made to a guardian or designated individual on behalf of a minor or individual who lacks capacity will discharge the Plan from any further liability for making such payment.

No beneficiary may receive a fractional percentage of your benefit (only whole percentages).

To designate a beneficiary, contact Fidelity at 1-800-835-5095 or visit www.netbenefits.com. Your designation must be on file with the Benefits Center on the date of your death for the designation to be effective. Beneficiary designations and changes are only valid if they are made in the manner required by the Plan Administrator.

If you die without having named a beneficiary or if the beneficiary you named predeceases you, your vested Plan Account is automatically paid in the following order:

• To your surviving Spouse, if any;
• If no surviving Spouse, divided equally among your surviving children, if any;
• If none of the above individuals survive you, divided equally between your surviving parents, if any;
• If none of the above individuals survive you, divided equally among your surviving siblings, if any; and
• If none of the above individuals survive you, to your estate.