457(b) Employee Module Catalogue code: B15 HIDDEN DESCRIPTION SLIDE — NOT TO BE SHOWN TO THE PUBLIC 457(b) Employee Module Catalogue code: B15 Presentation or Module? Module Slide numbers: B15-1 to B15-5 Registered/Non-Registered Usage: Allowed for all Last update info: Date updated: 2015-03-30 Project #25328 Description of changes: Update 2015 limits on #B15-3, update cover slide, update background. Filed with FINRA? No. If yes, date: Notes:

457(b) PLANS 457(b) Plans Prior to 2002 — contributions reduced by amounts contributed to a 403(b) or 401(k) plan Beginning in 2002 — coordination of the limits with other plans were removed Two separate contribution limits allow maximizing contributions to both tax-sheltered plans B15-1

457(b) Contribution Limits 457(b) PLANS 457(b) Contribution Limits Each year mirrors 403(b) and 401(k) salary reduction limits Limit includes both elective and non-elective contributions Within three years of retirement, may be eligible for up to double the normal limits B15-2

Tax Saving Example 403(b) contribution $18,000 457(b) PLANS Tax Saving Example For employee age 50 or above in the 25% tax bracket, maximizing 2015 contributions 403(b) contribution $18,000 403(b) catch-up contribution $ 6,000 457(b) contribution $18,000* Total contributions $42,000 2015 tax savings (@ 25%) $10,500 *Employees within three years of retirement may be able to contribute up to double the normal 457(b) limit. B15-3

457(b) PLANS Other Considerations Contributions considered general assets of the employer Any employee can participate Ability to designate minister’s housing allowance at retirement B15-4

Other Considerations Separate accounting for each participant 457(b) PLANS Other Considerations Separate accounting for each participant Quarterly account statements provided Access to account information online or by calling the toll-free phone number Variety of benefit payment options B15-5