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Annuity Plan

Individual Account Expense Charge

The Individual Account Expense Charge shall be determined as follows:

  1. Determine the total of all operating expenses incurred by the Plan during the Fiscal Year, including contributions required to be made in accordance with USERRA and §414(u) of the Internal Revenue Code. It excludes all investment related expenses.
  2. For the first Valuation Date after the inception of the Plan, determine the number of accounts for which Contributions were received during the Fiscal Year.
  3. For the second and subsequent Valuation Dates determine the number of accounts that were in existence on the preceding Valuation Date and remain in existence for the current Valuation Date.
  4. For the first Valuation Date, divide a. by b. For the second and subsequent Valuation Dates, divide a. by c. The result is the Individual Account Expense Charge for the Fiscal Year.

References to specific section(s) of the Plan can be found in the Official Plan Document under Plan Documents on this website.

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