HIDDEN DESCRIPTION SLIDE — NOT TO BE SHOWN TO THE PUBLIC 457(b) Employer Module Catalogue code: B14 Presentation or Module? Module Slide numbers: B14-1 to B14-6 Registered/Non-Registered Usage: Allowed for all Last update info: Date updated: Project #25329 Description of changes: Update contribution limits on #B14-3; 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 B14-1

457(b) Contribution Limits 457(b) PLANS  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 B14-2

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

Eligibility for 457(b) Plans 457(b) PLANS  Employers — only non-qualified church-controlled organizations  Participants — at employer’s discretion  Non-elective (employer) contributions, any or all  Elective (employee) deferrals, any or all  No nondiscrimination testing B14-4

Other Considerations 457(b) PLANS  Participation not limited to highly compensated employees  Flexible — select employees or open to all  Not subject to ERISA requirements  Ability to designate minister’s housing allowance at retirement B14-5

Other Considerations 457(b) PLANS  Contributions considered general assets of the employer  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 B14-6