MONEY PURCHASE PENSION AND 401(k) PLAN

Transcription

1 MONEY PURCHASE PENSION AND 401(k) PLAN OF THE CASCADE PENSION TRUST As Amended and Restated Effective January 1, 2016

2 Table of Contents Page ARTICLE I - DEFINITIONS SECTION 1.1 SECTION 1.2 SECTION 1.3 Terms "Accounts\ "Admmistrator\ SECTION 1.4 "Annuity Starting Date\ SECTION 1.5 "Compen$ation\ SECTION 1.6 "Hour of Service\ 2 SECTION 1.7 "Mandatory Contributions\ 2 SECTION 1.8 "Participant\ 2 SECTION 1.9 "Participant Directed Investment Account\ SECTION 1.10 "Pension Plan" or "Plan\ 2 SECTION 1.11 "Plan Year" or "Year\ 2 SECTION 1.12 "Separate AccountN 3 SECTION 1.13 "Voluntary Contributions\ 3 ARTICLE II - ADMINISTRATION 3 SECTION 2.1 Plan Administration 3 SECTION 2.2 Submission of Information to Administrator 3 SECTION 2.3 Application for Benefits 3 SECTION 2.4 Designation of Beneficiary 3 SECTION 2.5 Claims Procedure 4 SECTION 2.6 Uniform Application 4 SECTION 2.7 Payment of Trust Expenses 5 SECTION 2.8 Military Service 5 SECTION 2.9 Profit Sharing Plan 5 ARTICLE in - PARTICIPANTS' ACCOUNTS 5 SECTION 3.1 Establishing Accounts 5 SECTION 3.2 Account Earnings and Valuations 5 SECTION 3.3 Separate Investment Account 5 SECTION 3.4 Participant Directed Investments 6 ARTICLE rv - RETIREMENT, DEATH AND DISABILITY BENEFITS 6 SECTION 4.1 Retirement Benefits 6 SECTION 4.2 Death Benefit SECTION 4.3 Disability Retirement SECTION 4.4 Reemployment ARTICLE V - FORMS OF RETIREMENT BENEFIT SECTION 5.1 Primary Benefit Forms SECTION 5.2 Alternate Benefit Forms 9 SECTION 5.3 Explanations to Participants 10 SECTION 5.4 Benefit Commencement 10 SECTION 5.5 Required Distribution 11 ARTICLE VI - VESTING AND PRERETIREMENT DISTRIBUTIONS 12 SECTION 6.1 Vesting 12 SECTION 6.2 Distribution of Small Accounts 12 SECTION 6.3 Other Distributions 12 SECTION 6.4 QDRO Distributions 13 SECTION 6.5 Missing Participants or Beneficiaries 13 ARTICLE VH - AMENDMENT, MERGER OR CONSOLIDATION 13 SECTION 7.1 Amendment 13 SECTION 7.2 Merger or Consolidation ARTICLE Vra - MAXIMUM ADDITIONS 14 SECTION 8.1 Additions 14 SECTION 8.2 Maximum Additions to this Plan ARTICLE IX - MISCELLANEOUS PROVISION 14

3 SECTION 9.1 No Guarantee of Employment 14 SECTION 9.2 Notices 14 SECTION 9.4 Alienation of Benefits 14 SECTION 9.5 Rollovers 14 SECTION 9.6 Governing Law 16 SECTION 9.7 Headings 16 SECTION 9.8 Trust Agreement Controlling 16 SECTION 9.9 Miscellaneous Effective Dates 16 ARTICLE X - VOLUNTARY CONTRIBUTION RULES 1 SECTION 10.1 Refund 1 SECTION 10.2 Amount of Excess Contributions 1 SECTION 10.3 Previous Distributions 1 SECTION 10.4 ADP Test 1 SECTION 10.5 Highly Compensated Employee 18 SECTION 10.6 Notice 18 ARTICLE XI - NON-BARGAINING MEMBER PARTICIPATION 18 SECTION 11.1 Covered Employees 18 SECTION 11.2 Conditions of Participation 19 SECTION 11.3 Contribution Rate 19 SECTION 11.4 Voluntary Contribution 20 SECTION 11.5 Top Heavy Rules 20 ARTICLE XII - PARTICIPANT LOANS 21 SECTION 12.1 Purpose 21 SECTION 12.2 Eligibility 21 SECTION 12.3 Loan Terms 21 SECTION 12.4 Refinancing 22 SECTION 12.5 Earnings on Participant's Account 22 SECTION 12.6 Distributions 23 SECTION 12.7 Default 23 SECTION 12.8 Deemed Distributions 23

4 MONEY PURCHASE PENSION AND 401(k) PLAN OF THE CASCADE PENSION TRUST As Amended and Restated Effective January 1,2016 ARTICLE I DEFINITIONS SECTION 1.1 Terms. The following terms shall have the same meaning as defined in Article I of the Agreement and Declaration of Trust (as amended and restated) of the Cascade Pension Trust. (a) (b) (c) (d) (e) (f) (g) (h) Board, Board of Trustees or Trustees Collective Bargaining Agreement Employee Employer Fund Trust Trust Agreement Union SECTION 1.2 "Accounts" includes Mandatory Contribution Accounts, Voluntary Contribution Accounts, Separate Accounts and Participant Directed Investment Accounts. SECTION 1.3 "Administrator" is the person or firm employed by the Trustees under Section 2.1, if any, and if not then the Trustees. SECTION 1.4 "Annuity Starting Date" means (a) the first day of the first period for which an amount is payable as an annuity, or (b) in the case of a benefit not payable in the form of an annuity, the first day on which all events have occurred which entitle the Participant to such benefit. SECTION 1.5 "Compensation" means the total compensation of a Participant from an Employer for the Plan Year under section 415(c)(3) of the Internal Revenue Code of 1986 as amended (the "Code"), and includes an Employees items of remuneration as defined in Treasury Regulation 26 CFR1.415(c)-2(b), but does not include items of remuneration as defined in Treasury MONEY PURCHASE PENSION AND 401 (K) PLAN OF THE CASCADE PENSION TRUST - PAGE 1 (406922)

5 Regulation 26 CFR1.415(c)-2(c). The amount of a Participant's Compensation for purposes of this Plan may not exceed $265,000 adjusted for Years after 2016 as provided in Sections 415(d) and 401 (a)( 17)(B)of the Code. If an Employer pays a Participant a differential wage payment during a period of qualified military service as those terms are used in Section 414(u)(12) of the Code, such payment shall be deemed Compensation. SECTION 1.6 "Hour of Service" is each hour for which an Employee is directly or indirectly paid or entitled to payment by an Employer for the performance of duties, even if no duties were performed (irrespective of whether the employment relationship was terminated) due to vacation, layoff, holiday, illness, incapacity (including disability), jury duty, military service or leave of absence. Provided, however, no more than five hundred one (501) hours of service are required to be credited under the next preceding sentence to an Employee on account of any single continuous period during which he performs no duties. Hours for which an Employee is paid or entitled to payment include, but are not limited to, hours for which back pay (irrespective of mitigation of damages) has either been awarded or agreed to by the Employer and such hours shall be credited in the Year for which the award or agreement is made rather than the Year in which it is paid. In computing Hours of Service on a weekly or monthly basis when records of employment are not available or no work was performed, the Employee shall be assumed to have worked forty (40) hours for each full week of employment and eight (8) hours for each day if less than a full week (excluding the Employer's normal weekend and holidays during which no duties are normally performed). An Employee shall be credited with one Hour of Service for each hour of overtime (as defined by the applicable Collective Bargaining Agreement). Hours of Service shall be credited in accordance with Department of Labor Regulation 29 CFR b-2 and 3 to the extent such regulation is inconsistent with or covers items not addressed in this Plan. SECTION 1.7 "Mandatory Contributions" are payments required to be paid by the Employer to the Trust by the applicable Collective Bargaining Agreement or participation agreement entered into under Section 11.2(a), and the amount of which contributions is not subject to any control or discretion of the individual Employee. SECTION 1.8 "Participant" means any Employee for whom contributions are permitted or required to be made to this Trust or who roll over funds under Section 9.5(a) to the Fund. An Employee shall be a Participant from and including his first Hour of Service for which contributions are payable to the Trustees or receipt of a rollover under 9.5(a), whichever occurs first. SECTION 1.9 "Participant Directed Investment Account" is a Participant's Voluntary Contribution Account over which the Participant has investment control under Section 3.4. SECTION 1.10 "Pension Plan" or "Plan" means the Plan delineated in this document and any other plan adopted by the Trustees pursuant to Article VI, Section 3 of the Trust Agreement which details the program of benefits and the basis on which benefits are to be paid, and any amendments, modifications, changes or additions thereto. SECTION 1.11 "Plan Year" or "Year" means any twelve-month period commencing January 1, and ending on the next following December 31, inclusive of both dates. MONEY PURCHASE PENSION AND 401 (K) PLAN OF THE CASCADE PENSION TRUST - PAGE 2 (406922)

6 SECTION 5.5 Required Distribution. All distributions under this Plan (including incidental death benefit distributions referred to in 401(a)(9)(G) of the Code) shall be made not later than required by this section. (a) General. The entire interest of each Participant shall be distributed: (1) Not later than April 1 of the calendar year following the later of: (A) The calendar year in which the Participant attains age 70 1 /2; or (B) For Participants who are not five percent owners (as defined in Section 416 of the Code), the calendar year in which the Participant retires; or (2) Commencing not later than the date referred to in (1) and extending over the life of the Participant, the joint lives of the Participant and the Participant's beneficiary, the life expectancy of the Participant or the joint life expectancy of the Participant and the Participant's beneficiary. The Trustees may redetermine life expectancy from time to time but not more frequently than once annually. (b) Election. A Participant who has attained age 70 1/2 and who is not a five percent owner may elect to begin distributions under (a) above even though the Participant has not retired. (c) Death Benefit. If a Participant dies before benefits commence, then the death benefit shall be paid to the Participant's designated beneficiary. If the beneficiary is the Participant's spouse, the benefits shall commence not later than the date upon which the Participant would have attained age 70 1/2 and be paid over a period not extending beyond the longer of the surviving spouse's life or life expectancy. If the beneficiary is not the Participant's spouse, then the benefits shall be: death; or, (1) Fully and completely distributed within five years of the Participant's (2) Commenced within one year of the Participant's death and paid over the life or life expectancy of the beneficiary. (d) 401(a)(9) Compliance. Notwithstanding any provision to the contrary, all distributions shall be made in compliance with Code section 401(a)(9) (including the incidental death benefit requirement of section 401 (a)(9)(g)) and the regulations thereunder. The provisions of section 401(a)(9) shall override any inconsistent distribution options in the Plan. The Trustees shall adopt a procedure to implement the requirements of this section not inconsistent with section 401(a)(9) of the Code and the regulations adopted thereunder. Distributions made pursuant to the transitional rule distribution election provided in section 242(b)(2) of the Tax Equity and Fiscal Responsibility Act of 1982 shall meet the requirements of section 401(a)(9) in effect on December 31, 1983 and sections 401(a)(l 1) and 417. MONEY PURCHASE PENSION AND 401 (K) PLAN OF THE CASCADE PENSION TRUST - PAGE 11 (406922)

7 Section 3.3. SECTION 1.12 "Separate Account" means an investment account created imder SECTION 1.13 "Voluntary Contributions" are contributions to the Trust which satisfy Article X below and with respect to which the Participant has the option under the Collective Bargaining Agreement to require that the contribution be paid: (a) (b) to the Trust in accordance with the requirements of section 401(k) of the Code for exclusion from the participant's current taxable income; or to the Participant as wages taxable to the Participant as current income. Voluntary Contributions shall meet the test under Code section 401 (k)(3)(a). The maximum Voluntary Contribution for any Plan Year shall not exceed the limit set forth in subsection 414(u) and paragraph 402(g)(1) of the Code as adjusted each Year under Code paragraph 402(g)(4). Participants who would attain age 50 by the end of the taxable Year may increase their contribution for that Year and each subsequent Year by the amount permitted under Code Section 414(v). Any contribution in excess of such amount (and any income allocable to such contribution) shall be refunded to the Participant by the end of the following year. ARTICLE II ADMINISTRATION SECTION 2.1 Plao Administration. The Trustees may employ the services of a professional administrator to assist the Trustees in the administration of the Plan and Trust. SECTION 2.2 Submission of Information to Administrator. Each Participant and Employer shall, from time to time, furnish the Administrator such data on such forms as the Trustees consider necessary for the efficient administration of this Plan. SECTION 2.3 Application for Benefits. Each Participant or beneficiary who requests benefits shall file with the Administrator an application for benefits in such form as the Trustees may prescribe. Upon receipt of such application, the Administrator shall determine whether or not such applicant is entitled to benefits hereunder, and if so, the amount thereof, and shall notify such applicant of its findings. All approved benefits shall be paid from the date which the Administrator determines to be the date on which the applicant was eligible to receive benefits. SECTION 2.4 Designation of Beneficiary. In accordance with the procedures the Trustees prescribe, a Participant shall designate one or more beneficiaries on forms designated by the Trustees, to receive any amount payable upon the Participant's death in accordance with the terms of the death benefit under Section 4.2. If the Participant is married and the beneficiary is not the participant's spouse, then the beneficiary designation shall not be effective unless approved by the spouse as required by Section 5.1(d). Such beneficiary designation shall be in writing and shall be dated. The designated beneficiary may be changed from time to time by the Participant. However, no designation or change of beneficiary shall be effective until it is filed with the Administrator. MONEY PURCHASE PENSION AND 401 (K) PLAN OF THE CASCADE PENSION TRUST - PAGE 3 (406922)

8 Such designation or change shall be effective as of the date of filing with the Administrator and shall supersede all beneficiary designations received prior to such date. A married Participant under the age of 35 may not designate a death beneficiary other than the Participant's spouse. If a Participant's marriage is dissolved and at the time of dissolution the Participant's spouse is designated as the Participant's death beneficiary, such beneficiary designation shall be revoked automatically by such dissolution. The death beneficiary designation of a single Participant is automatically revoked upon the Participant's marriage unless the designated beneficiary is the Participant's spouse. SECTION 2.5 Claims Procedure. If an application for benefits submitted under Section 2.3 is totally or partially denied, the following claims procedure shall apply. (a) The applicant shall be notified by the Administrator in writing of the specific reasons for denial, the pertinent Plan provisions, and the claims procedure set forth below. If additional information is necessary for a determination of eligibility or scope of benefits, such notice shall advise the applicant of the needed information. Such notice shall be given the applicant within 90 days of the date of application unless special circumstances require an extension of time for processing the application. No extension shall exceed 90 days. Notice of the need for the extension shall be given to the applicant within 90 days following application. (b) The applicant may appeal a denial of benefits and have a hearing before the Trustees. Written request for a hearing must be filed with the Trustees not later than sixty (60) days after notice is given to the applicant that his claim has been denied. Such request must include all reasons why the applicant believes the decision was wrong and any facts he feels are relevant. The applicant may submit written comments, documents, records and other information relating to the claim for benefits. The applicant may review, and will be provided free of charge, copies of any pertinent records of the Trust in order to prepare the written request for review. Within a reasonable time after receipt of the request for review from the applicant, frie Trustees shall notify the applicant of the time, date and place of the hearing. At the hearing the applicant shall be entitled to present evidence in support of his position in accordance with any reasonable procedure approved by the Trustees. The Trustees shall consider all information submitted by the applicant without regard to whether such information was submitted or considered in the initial benefit determination. (c) The Trustees shall make a decision following the hearing, but no later than sixty (60) days after receipt of the request for review. In special circumstances which require an extension, the date for a decision may be extended to no later than 120 days after receipt of the request for review. The decision on review shall be in writing and will include the specific reasons for the decision, reference to the Plan provision on which the decision is based and a statement that the applicant is entitled to receive upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant to the applicant's claim. (d) The decision by the Trustees shall be final and binding upon everyone involved in accordance with Article Vlll, Section 1 of the Trust Agreement. SECTION 2.6 Uniform Application. Any discretionary decision by the Trustees or any person to whom authority shall have been delegated by the Trustees shall be uniform in nature MONEY PURCHASE PENSION AND 401 (K) PLAN OF THE CASCADE PENSION TRUST - PAGE 4 (406922)

9 and applicable to all persons similarly situated, and no discretionary act will be taken which will be discriminatory under the applicable provisions of the Code. SECTION 2.7 Payment of Trust Expenses. The Trustees shall adopt policies and procedures for the allocation of Trust expenses to the Participants' Accounts so that the amount charged to each Account in the judgment of the Trustees, is fair and reasonable. In doing so, the Trustees shall treat Accounts in each group or class uniformly. SECTION 2.8 Military Service. Notwithstanding any provision of the Plan to the contrary, contributions, benefits and service credit with respect to qualified military service v^ll be provided in accordance with section 414(u) of the Code. Mandatory Contributions to the Trust required by Chapter 43 of Title 38 of the United States Code shall be paid by the Trust and treated by the Trust as an operating expense. If a Participant dies while performing qualified military service, the Participant's beneficiaries shall be entitled to any additional benefits (other than benefit accruals relating to the period of qualified military service) which would have been provided under the Plan had the Participant resumed, and then terminated, employment with an Employer on account of death. SECTION 2.9 Profit Sharing Plan. The trustees designate the portions of this plan relating to Voluntary Contributions as a profit sharing plan for purposes of sections 401(a)(27)(B) and 401(k)(l) of the Code. ARTICLE III PARTICIPANTS' ACCOUNTS SECTION 3.1 Establishing Accounts. On the first day on which the Administrator receives a rollover under Section 9.5(a) or a report for contributions for Hours of Service of a Participant, the Administrator shall create two accounts for the Participant, a Mandatory Contribution Account and a Voluntary Contribution Account. All Mandatory Contributions shall be credited to the Mandatory Contribution Account and all Voluntary Contributions shall be credited to the Voluntary contribution Account. SECTION 3.2 Account Earnings and Valuations. At least annually, at the end of each Year, the Fund shall be valued at fair market value and earnings and losses of the Fund since the prior valuation shall be credited or debited to each Participant's Accounts. The earnings and losses dlocated to Separate Accounts established under Section 3.3, Voluntary Contribution Accounts or Participant Directed Investment Accounts established under Section 3.4 shall be the earnings and losses accrued by such Accounts. The earnings and losses allocated to the Mandatory Contribution Accounts shall be a percentage of the total net earnings and losses on all such Accounts where the percentage is determined by dividing the Account balance by the sum of all of such Account balances on the valuation date. In determining the fair market value of a bond or other evidence of indebtedness, which is not in default as to principal or interest, the Trustees may value such items in any manner permitted under Section 412(c)(2)(B) of the Code, and the regulations thereunder. SECTION 3.3 Separate Investment Account. The trustees have created Separate Accounts into which Participants can place for investment all the Participant's Mandatory MONEY PURCHASE PENSION AND 401 (K) PLAN OF THE CASCADE PENSION TRUST - PAGE 5 (406922)

10 Contribution Account established under Section 3.1. The Separate Accounts have been established to allow Participants anticipating retirement in the reasonably near future to have their Accounts invested in a manner which reduces the risk of significant market value fluctuations. The specific investments used for such purpose shall be selected from time to time by the Trustees or an investment advisor selected by the Trustees. Use of Separate Accounts shall be subject to the terms set forth below. However, nothing in this Section 3.3 shall be construed to exempt the Separate Accounts from other sections of this Plan governing eligibility for the taking of a distribution. (a) Eligibility. Only Participants who are fifty-two years of age or older may elect to place funds in Separate Accounts. A Participant who elects to place funds in Separate Accounts and subsequently transfers funds out of the Separate Accounts may not subsequently elect to transfer flmds to the Separate Accounts. (b) Election. A Participant may elect to transfer funds to or from Separate Accounts by filing with the Administrator such information and election as the Administrator requires. Funds shall be transferred to or from the Separate Accounts as soon as administratively reeisonable after a properly completed election is filed with the Administrator. (c) Withdrawal. A Participant must withdraw or transfer his funds from the Separate Accounts not less than one nor later than three years after the date the Participant's Accounts are placed in the Separate Accounts unless such limitations are modified by the Trustees at the request of the Participant. However, if a Participant or Beneficiary with funds in Separate Accounts elects to start receiving benefits and selects a settlement option available under the Separate Accounts, then the Separate Accounts need not be withdrawn or transferred but shall be used to fund the settlement option selected. (d) Contributions. All Mandatoiy Contributions made during the time when a Participant has Separate Accounts shall be credited to the Separate Accounts. SECTION 3.4 Participant Directed Investments. The Trustees may establish a Participant Directed Investment Account into which each Participant may place all or a portion of the Participant's Volimtary Contribution Account and future Voluntary Contributions, llie details for transfers to and from such Account and the investment options available shall be established under a policy approved by the Trustees. The policy shall endeavor to satisfy the requirements of section 404(c) of the Employee Retirement Income Security Act of 1974 ("ERISA") and the regulations adopted thereunder. ARTICLE IV RETIREMENT, DEATH AND DISABILITY BENEFITS SECTION 4.1 Retirement Benefits. (a) Standard Retirement. A Participant may retire hereunder effective the first day of the month next following his fifty-fifth birthday or the first day of any month thereafter and receive retirement benefits in accordance with Article V below. MONEY PURCHASE PENSION AND 401 (K) PLAN OF THE CASCADE PENSION TRUST - PAGE 6 (406922)

11 (b) Deemed Retirement. A Participant who meets the age requirement of Section 4.1 (a), and who has not received contributions to any of the Participant's Accounts for a period of three (3) or more years immediately preceding the Participant's election to receive retirement benefits in accordance with Article V below, is also deemed to have retired for purposes of this Plan. SECTION 4.2 Death Benefit. (a) Before Retirement. If a Participant dies before retirement, the Participant's Accounts shall be paid to the death beneficiary designated by the Participant. If the Participant has not designated a beneficiary or the designation was revoked, the death benefit shall be payable to the Participant's surviving spouse if there is one and if not, to the Participant's estate. (b) After Retirement. If a Participant dies after retirement, any death benefit with respect to accounts accrued prior to retirement shall be paid in accordance with the form of retirement benefit established at the time of retirement. If a Participant retires and subsequently begins to participate again as provided in Section 4.4 below, the balance of his accounts which are accumulated after his recommencement of Participation but before re-retirement, shall be payable as provided in subsection (a) above. SECTION 4.3 Disability Retirement. A Participant is totally and permanently disabled if the Trustees obtain medical evidence satisfactory to the Trustees, when uniformly and consistently applied, establishing the Participant is (a) eligible for Social Security disability benefits, (b) unable to continue employment in the electrical industry, or (c) suffering from an illness or disease which will, with reasonable medical certainty, result within a reasonable period oftime in the Participant's inability to continue employment in the electrical industry. If a Participant becomes totally and permanently disabled, the Participant may retire on the first day of any month after such disability and receive retirement benefits in accordance with Article V below. SECTION 4.4 Reempioyment. If a Participant retires and receives retirement benefits and subsequently is reemployed by an Employer, he will have new Accounts established on his behalf in which contributions made after reempioyment will be accumulated. Upon his subsequent retirement or death, such accounts shall be used to provide additional benefits. However, such Participant may not receive any retirement benefits from such re-established accounts prior to the first day of the second month next following his 60th birthday, or the first day of any subsequent month at such Participant's election. Such reempioyment shall in no way alter the benefits payable to the Participant as a result of his initial retirement. If a Participant retires following his 60th birthday and is reemployed, such Participant will not be eligible to receive retirement benefits from Accounts established upon reempioyment until twelve (12) months after the next previous retirement date. ARTICLE V FORMS OF RETIREMENT BENEFIT SECTION 5.1 Primary Benefit Forms. When a Participant becomes eligible for retirement, death or disability benefits the balance of the Participant's Accounts as of their most recent valuation date prior to the date of receipt by the Administrator of a completed application for the benefits shall be used to provide such benefits. Any contributions received after such valuation MONEY PURCHASE PENSION AND 401 (K) PLAN OF THE CASCADE PENSION TRUST - PAGE 7 (4Q6922)

12 date shall be paid as a separate benefit payment. Benefits shall be provided in accordance with this Section 5.1 unless an election is properly made to receive benefits in one of the forms set forth in Section 5.2. (a) Benefits for Married Participants. A Participant shall receive his disability or retirement benefits in the form of a qualified joint and survivor annuity under Section 5.1 (a)(1) if the Participant is married on the Annuity Starting Date, unless he elects otherwise with the consent of his spouse as provided below. A qualified joint and survivor annuity shall commence immediately. A Participant's spouse shall receive a Participant's death benefit in the form of a pre retirement survivor annuity under Section 5.1(a)(2) if the Participant was married on the Annuity Starting Date unless the Participant elects otherwise with the consent of his spouse as provided below. If a Participant is unmarried on the Annuity Starting Date, then such benefits shall be paid as provided in Section 5.2. If a Participant eligible for death benefits was unmarried on the Annuity Starting Date, his death benefit shall be paid to his designated beneficiary, or if none, to such beneficiary as the Trustees designate, in one of the forms selected by the beneficiary under Section 5.2. (1) Qualified Joint and Survivor Annuity. A qualified joint and survivor annuity is an annuity for the life of the Participant with a survivor annuity for the life of the Participant's spouse under which the benefit payments are 50% of the amount of the benefit payments payable during the joint lives of the Participant and the Participant's spouse. The purchase price of the annuity upon retirement shall be the sum of the Participant's Account balances. (2) Qualified Pre-retirement Survivor Annuity. A qualified pre retirement survivor annuity is a single annuity for the life of the Participant's spouse. The purchase price of the annuity shall be equal to the sum of the Participant's Account balances. A surviving spouse entitled to a qualified pre-retirement survivor's annuity may direct the commencement of benefits within a reasonable time after the Participant's death. (b) Election of Other Benefit Forms. A married Participant, at any time prior to the Annuity Starting Date, may elect to receive retirement benefits in one of the alternate forms set forth in Section 5.2 instead of the forms set forth in this Section or designate a beneficiary other than his spouse to receive his death benefit. An election with respect to retirement benefits must be made not more than 180 days before the Annuity Starting Date or after the Annuity Starting Date. A retirement benefit election or death beneficiary designation sheill be effective only if (1) the Participant's spouse consents to the election as provided in Section 5.1(d); (2) the spouse's consent acknowledges the effect of the election; and (3) the Participant's waiver and spouse's consent state that no further beneficiary change or benefit election may be made without spousal consent A death beneficiary designation made on or before the earlier of the first day of the Plan Year in which the Participant attains age 35 or the date on which the Participant ceases to work for an Employer shall automatically be revoked on the first day of the Plan Year in which the Participant attains age 35, unless it designates the Participant's spouse as beneficiary. No retirement benefit election or beneficiary designation shall be effective unless it is made in writing, delivered to the Administrator and is accompanied by the Participant's spouse's consent provided in accordance with Section 5.1(d). MONEY PURCHASE PENSION AND 401 (K) PLAN OF THE CASCADE PENSION TRUST - PAGE 8 (406922)

13 (c) Revocation of Election. A Participant may revoke or change any election under 5.1(b) above at any time within the period during which such election is allowed. The Participant may, within such time, make as many elections, revocations or changes as the Participant desires and the last such revocation, election or change shall determine the form of benefits provided. If the Participant is married, any revocation, election or change will be effective only if accompanied by the Participant's spouse's consent provided in accordance with Section 5.1(d). (d) Spouse^s Consent The spouse's consent required under Sections 5.1 (b) or (c) shall be effective only if it acknowledges the effect of the consent in writing and is witnessed by a notary public. The spouse's consent shall be deemed given if it is established to the satisfaction of the Administrator that such consent cannot be obtained because there is no spouse, because the spouse cannot be located, or because of other circumstances permitted by the Secretary of the Treasury by regulation. The consent of one spouse shall not be effective as to any subsequent spouse of the same Participant. SECTION 5.2 Alternate Benefit Forms. Subject to the requirements of Section 5.1, retirement benefits at the election of the Participant, or death benefits at the election of the beneficiary, may be paid in any of the following forms. A Participant or beneficiary may select more than one form of benefit provided that the amount of the Accounts allocated to each form of benefit exceeds $5,000. The election shall be made, if at all, prior to the Annuity Starting Date. If an election is not made in the manner required by this Plan and the Trustees, the benefits shall be paid in the manner provided in Section 5.1 (a) for a married recipient and as provided in Section 5.2(b) for an unmarried recipient. If the Participant's Accoimt balance for any Account is less than $5,000 the benefits shall be paid as provided in Section 5.2(a) regardless of the election of the recipient. Annuity contracts shall not be transferable. (a) (b) Lump Sum. A single lump sum payment. Single Annuity. An armuity for the life of the Participant or beneficiary. (c) Fixed Installments. Equal periodic installments in an amount determined by the Participant or beneficiary. Such installments shall be paid from the Participant's Accounts until they are exhausted. The Accounts shall share in the gains and losses of the Plan allocated under Section 3.2 until they are exhausted. (d) Annuity for a Certain Period. Equal periodic installments for a period selected by the Participant or beneficiary from one to fifteen years. If the Participant dies before the end of the designated period, the remaining payments shall be paid to the Participant's designated beneficiary. (e) Life Annuity with a Certain Period. Equal periodic installments for the life of the Participant or beneficiary with a guarantee that such payments will continue for five to fifteen years. If the Participant dies before the expiration of the designated period, the remaining payments shall be paid to the Participant's designated beneficiary. MONEY PURCHASE PENSION AND 401 (K) PLAN OF THE CASCADE PENSION TRUST - PAGE 9 (406922)

14 (f) Joint and Survivor Annuity. An annuity for the life of the Participant or beneficiary with a survivor's annuity to a person selected by the Participant or beneficiary in which the monthly benefit payable to the survivor is not more than 100%, nor less than 75% of the monthly benefit payable to the Participant or beneficiary during the joint lives of the Participant or beneficiary and such other person. SECTION 5.3 Explanations to Participants. The Administrator shall provide each Participant with the following explanations unless the Participant waives such requirement. (a) Joint and Survivor Annuity. Within a reasonable time (but not more than 180 days before the Annuity Starting Date) before the commencement of retirement benefits (and consistent with such regulations as the Secretary of the Treasury prescribes) a written explanation of: (1) The terms and conditions of the qualified joint and survivor annuity defined in Section 5.1(a); (2) The Participant's right to make, and the effect of an election or revocation under Section 5.1(b) and (c) to waive the joint and survivor annuity; and (3) The rights of the Participant's spouse to consent or to withhold consent under 5.1(d) to an election or revocation of election under 5.1(b) and (c). (b) Qualified Pre-retirement Survivor Annuity. Consistent with such regulations as the Secretary of the Treasury prescribes, a written explanation with respect to the qualified pre-retirement survivor annuity defined in Section 5.1(a)(2), comparable to that required under Section 5.3(a) above. Such explanation shall be provided during whichever of the following periods ends last: (1) The period begirming with the first day of the Plan Year in which the Participant attains age 32 and ending with the close of the Plan Year preceding the Plan Year in which the Participant attains age 35; (2) A reasonable period after the individual becomes a Participant; or (3) A reasonable period ending after Code Section 401 (a)( 11) applies to the Participant. In the case of a Participant who separates from service with an Employer before attaining age 35, the notice shall be given within a reasonable period 2ifter separation from service. SECTION 5.4 Benefit Commencement. Unless the Participant elects otherwise, retirement benefits shall commence not later than sixty (60) days after the close of the Plan Year in which the latest of the following occurs: (1) the Participant becomes eligible for retirement, (2) the tenth anniversary of the date on which the Participant first commenced participation; or (3) the date the Participant ceases to work for an Employer. MONEY PURCHASE PENSION AND 401 (K) PLAN OF THE CASCADE PENSION TRUST - PAGE 10 (406922)

15 (e) 2009 Minimum Distributions. Notwithstanding any other provision in the Plan, no minimum distributions under Section 401(a)(9) of the Code shall be required for 2009 for Participants who elect to waive such distributions in accordance with the Worker, Retiree and Employer Recovery Act of ARTICLE VI VESTING AND PRERETIREMENT DISTRIBUTIONS SECTION 6.1 Vesting. Participants are 100% vested in their Accounts at all times. SECTION 6.2 Distribution of Small Accounts. In order to provide for the efficient administration of the Trust and to reduce the necessity for maintaining inactive accoimts with small balances, the following distributions may be made: (a) Participant's Election. If a Participant ceases to do any work for which contributions are required for a period of twelve (12) consecutive months, and if the Participant is no longer employed by an Employer, he may, regardless of his age or eligibility for retirement, withdraw all of his Accounts provided the sum of all of the Participants' Accounts is less than $10,000 on the first day of the second month next following the last date on which he performed work for which contributions were due. A request for withdrawal must be made in writing and approved by the Board of Trustees. (b) Trust Election. If at the end of any Year the sum of all of the Participants' Accounts (exclusive of rollovers into the Accounts under Section 9.5(a) and earnings thereon) total less than $5,000 and if the Participant is not employed by an Employer and there have been no contributions to this Plan on behalf of such Participant for: (1) two Years, then the Trustees may (but shall not be required to) direct distribution of such Accounts to such Participant; or (2) any reasonable amount of time if the Participant or beneficiary to whom it is distributable cannot be located after reasonable efforts by the Administrator, then the Trustees may (but shall not be required to) direct distribution of such Accounts to such Participant or beneficiary. If the amount of the distribution is in excess of $1,000 then it shall be rolled into an individual retirement account for the benefit of the participant unless the Participant elects a different distribution option. (c) Future Participation. Withdrawal or distribution of a Participant's Account balances under either (a) or (b) above shall not in any way jeopardize such Participant's right to participate in this Plan subsequent to such withdrawal or distribution. SECTION 63 Other Distributions. If a Participant is ineligible for a distribution under Section 6.2, such Participant may not withdraw his Accounts or any part thereof until death. MONEY PURCHASE PENSION AND 401 (K) PLAN OF THE CASCADE PENSION TRUST - PAGE 12 (406922)

16 disability or retirement pursuant to the terms of this Plan. Such Accounts shall remain in the Fund and continue to participate in the gains and losses thereof and share expenses with all other Accounts. SECTION 6.4 QDRO Distributions. The Administrator shall review every domestic relations order submitted to the Administrator which involves a Participant to determine if it is a qualified domestic relations order under section 206(d)(3) of EJRISA. If it is, the portion of the Participant's Accounts awarded the alternate payee shall be placed in separate Accounts in the name of the alternate payee and the alternate payee shall be considered a Participant with respect to each such Account. If the alternate payee is a Participant only because of an Account established as a result of a qualified domestic relations order, the alternate payee may elect to commence receipt of benefits in any of the forms listed in Section 5.2 (except a joint and survivor annuity under Section 5.2(f) with respect to the alternate payee and the alternate payee's subsequent spouse) as of the first day of any month after the order is determined to be qualified. If the alternate payee is a Participant with an existing Account, then the alternate payee may elect to commence benefits only when the alternate payee commences benefits from the existing Account. SECTION 6.5 Missing Participants or Beneficiaries. In the event that Section 6.2(b) does not permit the Trustees to force a distribution, or the Trustees elect not to do so, and the Administrator has been unable after reasonable efforts to locate the Participant or beneficiary to whom a benefit is or may be due, then notwithstanding anything to the contrary in the Plan, the Trustees may elect to forfeit the benefit and/or Accounts of such Participant and/or beneficiary. However, in the event that a previously unlocated Participant or beneficiary later makes a claim for the forfeited benefit and/or Accounts, then the amount of the benefit and/or Accounts so forfeited shall be reinstated, exclusive of gains and losses on such amount subsequent to the date of forfeiture. Any sums forfeited under this Section shall be held in a forfeiture account of the Plan. Sums in the forfeiture accoimt shall be applied to defray the current expenses of the Plan and to restore any forfeited benefits or Accounts to a subsequently located Participant or beneficiary. In the event that there are then insufficient funds in the forfeiture account on the date of restoration to fully fund the restored benefit and/or Accounts under this Section, then the difference shall be paid by the Trust and treated by the Trust as an operating expense. ARTICLE VII AMENDMENT, MERGER OR CONSOLIDATION SECTION 7.1 Amendment. The Trustees may at any time modify, alter or amend this Plan in any respect, retroactively or otherwise. However, no such modification, alteration or amendment shall adversely affect any retirement benefit for which any retired Employee is eligible, except as may be required to obtain or retain approval of the Plan as a qualified Plan under section 401, the Trust as an exempt Trust under section 501 and for all contributions hereto as tax deductible to the contributing Employers under section 404 of the Code. SECTION 7.2 Merger or Consolidation. This Plan may not merge or consolidate with, or transfer its assets or liabilities to any other Plan unless each Participant in the Plan would receive a benefit immediately after the merger, consolidation or transfer which is equal to or greater MONEY PURCHASE PENSION AhfD 401 (K) PLAN OF THE CASCADE PENSION TRUST - PAGE 13 (406922)

17 than the benefit he would have been entitled to receive immediately before the merger, consolidation or transfer, computed in each case as if the Plan had then terminated. ARTICLE VIII - MAXIMUM ADDITIONS SECTION 8.1 Additions. As used in this Article, Additions for any Year mean the sum of all Mandatory and Voluntary Contributions to a Participant's Accounts during such Year excluding the amount of any erroneous contributions refunded to the Employer or distributed to the Participant pursuant to Section 1.13 or Article VIII, Section 9 of the Trust Agreement. SECTION 8.2 Maximum Additions to this Plan. The total Additions to each Account for a Participant for any Year shall not exceed the lesser of (a) 100% of the Participant's Compensation paid by Employers for such Year, or (b) $53,000 adjusted after 2016 as permitted pursuant to Section 415(d) of the Code. If excess annual Additions are made to the plan, then the Administrator shall refund the Participant's Voluntary Contributions (plus the earnings thereon) to the Participant to the extent necessary to eliminate such excess annual Additions. ARTICLE IX - MISCELLANEOUS PROVISIONS SECTION 9.1 No Guarantee of Employment. Nothing contained herein gives, nor is intended to give, any Participant the right to be retained in the service of an Employer. SECTION 9.2 Notices. Notice of this Plan, and of amendments, if any, shall be given by the Trustees to the Participants in such form as the Trustees may deem appropriate consistent with the provisions of ERISA and the Code. SECTION 9.3 Participant Elections. All elections and designations made by Participants under the Plan shall be submitted in writing on forms prescribed and furnished by the Trustees. The Trustees shall not be bound by any election or designation xmtil the correct forms are properly completed and submitted to the Administrator. SECTION 9.4 Alienation of Benefits. Except as provided in Section 6.4, benefits under this Plan shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, charge, garnishment, execution or levy of any kind either voluntary or involuntary, prior to actually being received by the person entitled to the benefit under the terms of this Plan. Any attempt to anticipate, alienate, sell, transfer, assign, pledge, encumber, charge or otherwise dispose of any right to benefits payable hereunder, shall be void. Neither the Trust nor Trustees shall be liable in any manner for or subject to the debts, contracts, liabilities, engagements, or torts of any person entitled to benefits hereunder whether intentional or otherwise. SECTION 9.5 Rollovers. (a) Into the Plan. An Employee may request that the Trustees accept all or part of the cash and other property (or the proceeds thereof) distributable to him in one or more eligible rollover distributions (as defined in section 402(c)(4) of the Code) fi-om another trust or plan qualified as tax exempt under section 401(a), 403(a) or 457 of the Code or an individual retirement MONEY PURCHASE PENSION AND 401 (K) PLAN OF THE CASCADE PENSION TRUST - PAGE 14 (406922)

18 account, including for this pmpose a simple retirement account (as defined in section 408(p)(l) of the Code) which has been in existence for longer than the 2-year period described in section 72(t)(6) of the Code. The Trustees are authorized to accept or reject any such transfer to the Fund in their sole and absolute discretion. Any amount accepted and transferred to the Fund shall be known as a "Rollover Contribution." A Rollover Contribution shall not be forfeitable and shall be held as part of either the Mandatory Contribution Account, Voluntary Contribution Account, or both, of the Participant on whose behalf the Rollover Contribution is made, as directed by the Participant. However, no Rollover Contribution may be accepted for more than one of a Participant's Accounts unless the Rollover Contribution to each Account is made by separate checks or other payments in the amount to be transferred to each Account. In addition, a Rollover Contribution may not include any amount which consists of after tax contributions by the Participant. The Administrator may accept Rollover Contributions without prior Trustee approval if: (1) The individual requesting the Rollover Contribution is a Participant or eligible to participate and is not an alternate payee; (2) The Rollover Contribution is paid directly to the Trust by the Trustee of a trust or plan qualified under section 401(a), 403(b) or 457 of the Code or an individual retirement account or simple retirement account custodian or trustee; (3) The Rollover Contribution is paid in cash; and (4) The Administrator receives written confirmation from the transferring trustee or custodian that the Rollover Contribution is from a trust or plan qualified under section 401(a), 403(b) or 457 of the Code or an individual retirement account or simple retirement account and does not include after tax employee contributions. (b) Out of the Plan. A Participant, the death beneficiary of a Participant who received the Participant's Account as a death benefit or a spouse or former spouse who is an altemate payee under a qualified domestic relations order may elect, at the time and in the manner prescribed by the Administrator, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the Participant, death beneficiary, spouse or former spouse, in a direct rollover. (1) An eligible rollover distribution is any distribution of all or any portion of a Participant's Accounts, except that an eligible rollover distribution does not include: any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the Participant or the joint lives (or joint life expectancies) of the Participant and the Participant's designated beneficiary, or for a specified period of ten (10) years or more; any distribution to the extent such distribution is required under Code section 401(a)(9); and the portion of any distribution that is not includible in gross income (determined without regard to the exclusion for net unrealized appreciation with respect to employer securities). A portion of a distribution shall not fail to be an eligible rollover distribution merely because the portion consists of after tax employee contributions which are not includable in gross income. However, such a portion may be transferred only to an individual retirement account or annuity described in section MONEY PURCHASE PENSION AND 401 (K) PLAN OF THE CASCADE PENSION TRUST - PAGE 15 (406922)

19 408(a) or (b) or a Roth IRA described in section 408A(b)of the Code, or to a qualified defined contribution plan described in section 401(a) or 403(a) of the Code that agrees to separately account for amounts so transferred, including separately accounting for the portion of such distribution which is includable in gross income and the portion of such distribution which is not so includable. (2) An eligible retirement plan is an individual retirement account described in section 408(a); an individual retirement annuity described in section 408(b); a simple retirement account described in section 408(p)(l) which has been in existence for longer than the 2-year period described in section 72(t)(6); a Roth IRA described in section 408A(b); an annuity plan described in section 403(a); an annuity contract described in section 403(b); a qualified trust described in section 401(a); or a plan described in section 457(b) of the Code which is maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state. However, an eligible retirement plan, for distribution to a non-spouse death beneficiary, must be an individual retirement account or individual retirement annuity described in Code Sections 408(a) or (b). (3) A direct rollover is payment of an eligible rollover distribution by the Plan to the eligible retirement plan specified by the Participant, beneficiary or alternate payee. (4) If a lump sum distribution of over $ 1,000 and not more than $5,000 is made without the Participant's consent, the distribution shall be to an individual retirement account designated by the Trustees for the benefit of the participant unless the participant elects to receive the distribution as a lump sum or a direct rollover to an eligible retirement plan. SECTION 9.6 Governing Law. This Plan, and all rights thereunder, shall be construed, administered and govemed in all respects in accordance with the laws of the State of Oregon and the United States. SECTION 9.7 Headings. The headings in this instrument are inserted for convenience of reference only and are to be ignored in any construction of the provisions hereof. Pronouns, or other words indicating masculine, feminine or neuter gender shall be deemed to include other genders, unless the context clearly indicates otherwise, and singular words shall include the plural in all cases where such meaning would be appropriate. SECTION 9.8 Trust Agreement Controlling. In the event of any conflict or inconsistency between the provisions of this instrument and the provisions of the Trust Agreement, the provisions of the latter shall govern. SECTION 9.9 Miscellaneous Effective Dates. The provisions of Sections 3.3,9.5, and Articles XI and XII shall not take effect until January 1, Until such dates, the Plan provisions which control are the correspondingly-numbered Sections of the Plan in effect from January 1,2009. MONEY PURCHASE PENSION AND 401 (K) PLAN OF THE CASCADE PENSION TRUST - PAGE 16 (406922)

20 ARTICLE X VOLUNTARY CONTRIBUTION RULES SECTION 10.1 Refund. The Trust shall refund all excess Voluntary Contributions for highly compensated Employees (and any income allocable to such Contributions) to the contributing Employee for each Plan Year by the end of the following Plan Year. SECTION 10.2 Amount of Excess Contributions. (a) Highly Compensated Employees. The amount of excess Voluntary Contributions for highly compensated Employees, as defined in Section 10.5, for a Plan Year is the amount (if any) by which the highly compensated Employees' Voluntary Contributions must be reduced for the highly compensated employees' actual deferral percentage (ADP) to equal the highest permitted ADPpercentageunder Section To reduce excess Voluntary Contributions to the amount permitted under Section 10.4, a refund will be made of contributions by highly compensated Employees in the marmer specified in Treasury Regulation 26 CFR1.401 (k)- 2(b)(2). In no case may the amount of excess contributions to be distributed for a Plan Year with respect to any highly compensated Employee exceed the amount of Voluntary Contributions made by the highly compensated Employee for the Plan Year. (b) Non-Highly Compensated Employees. Voluntary Contributions by nonhighly compensated employees are those in excess of the limits set forth in Section 1.13 above. Such excess contributions (and any income thereon) shall be refunded to the Contributing Participant not later than April 15 of the Year following the Year in which the excess contribution was made. SECTION 10.3 Previous Distributions. The amount of excess Voluntary Contributions to be distributed with respect to a Participant for a Plan Year sh2ill be reduced by any excess Volimtary Contributions previously distributed to the Participant for the Participant's taxable year ending with or within the Plan Year in accordance with Code section 402(g)(2). The excess Voluntary Contributions that may be distributed with respect to a Participant shall be reduced by any excess Voluntary Contributions previously distributed with respect to the Participant for the Plan Year beginning with or within the Participant's taxable year. SECTION 10.4 ADP Test. The ADP for eligible highly compensated Employees for the Plan Year may not exceed the greater of (a) 125% of the ADP for all other eligible employees for the same Plan Year or (b) the lesser of (1) twice the ADP for all other eligible employees for the same Plan Year or (2) the ADP for all other eligible employees for the same Plan Year plus 2%. The ADP for a group of eligible employees is the average of the ratios (calculated separately for each employee) of the amount of Voluntary Contributions (and other contributions treated as Voluntary Contributions) made on behalf of each such employee for the relevant Plan Year divided by the employees Compensation for the Plan Year. If a highly compensated Employee's ADP exceeds the limitation in this section than it shall be reduced as provided in Section 10.2 above. Catch-up contributions under Sections 414(u) or 414(w) of the Code for Participants' qualified military service shall not be considered contributions for the purpose of ADP testing. MONEY PURCHASE PENSION AND 401 (K) PLAN OF THE CASCADE PENSION TRUST - PAGE 17 (406922)

21 SECTION 10.5 Highly Compensated Employees. For purposes of this Article X, a highly compensated Employee is an Employee who (1) was a 5% percent owner, as defined in Section 416(i) of the Code, at any time during the Plan Year or the preceding Plan year, or (2) had Compensation from the Employer for the preceding Plan Year in excess of $120,000, the limit provided in Section 414(q), adjusted each year after 2016 as provided in Section 415(d) of the Code. SECTION 10.6 Notice. The Administrator shall send the notices required by Section 401(k)(12)(D) of the Code prior to the beginning of each year to all Employees eligible to make Voluntary Contributions under this subsection 11.4(b), advising them of their rights and obligations related to Voluntaiy Contributions. Article X shall not apply to Employees making Voluritaiy Contributions under Section 11.4(b). ARTICLE XI NON-BARGAINING MEMBER PARTICIPATION SECTION 11.1 Covered Employees. (a) Non Profit Employers. Non Profit Employers are each Union, the Oregon Pacific-Cascade Chapter of the National Electrical Contractors Association, any credit union established by a Union for the benefit of its members, a trust established under ERISA or the Labor Management Cooperation Act of 1978 by an agreement between a Union and any chapter of the National Electrical Contractors Association. Employees of Non Profit Employers may participate upon satisfying the requirements of Section 11.2 below. The participation agreement may exclude from participation Employees who have less than five hundred (500) Hours of Service in any Plan Year. (b) Other Employers. Upon satisfying the requirements of Section 11.2, an Employer that is not a Non Profit Employer may make Mandatory Contributions for the benefit of one of the following groups of employees who are not represented by a Union: (1) All Non-Bargaining. All of the Employer's Employees provided that contributions are made on behalf of each and every such Employee; or (2) Alumni. All of the Employer's Employees who had or have an account established under Section 3.1 and during the current Plan Year or a prior Plan Year, at least one-half (1/2) of the Employee's total Hours of Service for such Year with all Employers, was performed as a member of a bargaining unit represented by the Union. (3) Other. One or more ofan Employer's Employees ifthe Trustees are satisfied, in their sole discretion, that the participation by such Employees and Employer will satisfy the ADP requirements of Article X and the nondiscrimination requirements of the Code. MONEY PURCHASE PENSION AND 401 (K) PLAN OF THE CASCADE PENSION TRUST - PAGE 18 (406922)

22 (c) Limitations. (1) Partners and Sole Proprietors. If the Employer is a partnership or sole proprietorship, neither the partners nor sole proprietor may participate imder this Article XI. (2) Maximum Participation. No more than five percent (5%) of the Trust Participants may participate under Section SECTION 11.2 Conditions of Participation. Each Employer who wishes to contribute to the Trust under this Article XI must satisfy all of the following requirements. (a) Written Agreement. The Employer must enter into a written participation agreement acceptable to the Trustees. The terms of participation may not be changed without entering into a new participation agreement acceptable to the Trustees. (b) Certification. The Employer shall certify, when requested by the Administrator, that the Employer has made the required contributions for all of the Employees entitled to participate under the participation agreement. (c) Other Information. The Employer shall provide the Trustees with such documents and information as they reasonably request to establish and maintain the Trust as qualified under Section 401 of the Code. (d) Age and Service Requirements. Except as provided in Section 11.1(a) above, there are no minimum or maximum age or service requirements for Plan Participation. Participation shall commence on the date specified in the applicable participation agreement. SECTION 11.3 Contribution Rate. The rate of contribution for Employee's participating under Section 11.1 shall be as follows: (a) Non Profit Employers. Participation agreements of Non Profit Employers need not require uniform contributions for all Employees and may permit matching contributions by the Employer but must satisfy the ADP requirements of Article X and the nondiscrimination requirements of the Code. Contributions shall not exceed one himdred (100) percent of Compensation for any Employee. (b) All Non-Bargaining. If the participation agreement requires the Employer, which is not a Non Profit Employer, to contribute for all non-bargaining unit employees under Section 11.1 (b)(1), the agreement shall establish a contribution rate which shall be uniform for all of the Employer's Employees participating under the agreement. Examples of uniform contribution rates are: a fixed rate per hour, a fixed percentage of compensation or an equal amount per month. (c) Alumni. If the participation agreement only allows Employees to participate under Section 11.1 (b)(2) then the Employer shall contribute to the Trust for each such Employee at the joumeyman rate specified by the Collective Bargaining Agreement entered into between the Union and the Employer for the jurisdiction in which the Employee is working. MONEY PURCHASE PENSION AND 401 (K) PLAN OF THE CASCADE PENSION TRUST - PAGE 19 (406922)

23 (d) Other. If the participation agreement is approved under Section 11.1 (b)(3), then the Employer shall contribute for the Employees and at the rate specified in such agreement, which need not require uniform contributions for all Employees, and which may permit matching contributions by the Employer, but which must satisfy the ADP requirements of Article X and the nondiscrimination requirements of the Code. Contributions shall not exceed one hundred (100) percent of Compensation for any Employee. SECTION 11.4 Voluntary Contribution. No Employee participating under this Article XI shall be entitled to make Voluntary Contributions, except: (a) Employees of a Non Profit Employer; and (b) Employees (other than partners or sole proprietors) of Employers who enter into participation agreements under Section 11.1(b)(1) which require the Employer to contribute to the Mandatory Contribution Account of each non-highly compensated non-bargaining unit Employee, at least three percent (3%) of such Employee's Compensation. (c) Employees (other than partners or sole proprietors) of Employers with participation agreements approved under Section 11.1(b)(3) permitting Voluntary Contributions. SECTION 11.5 Top Heavy Rules. (a) Top Heavy Contribution. If for any Plan Year the Plan is Top Heavy with respect to any Employer making Mandatory Contributions to the Plan for nonbargaining unit Employees, then the Employer shall contribute to the Mandatory Contribution Account of each non bargaining unit, non Key Employee, employed by the Employer on the last day of the Plan Year, the lessor of three percent (3%) of such Employee's Compensation for the Year, or the highest percentage of Compensation contributed to the Mandatory Contribution Account for any Key Employee for the year. (b) Definitions. (1) Top Heavy - The Plan is Top Heavy as to any Employer for a Plan Year if as of the last day of the preceding Plan Year, the sum of the Mandatory Contribution Accounts (excluding rollover contributions to the Accounts under Section 9.5(a)) for all Key Employees of the Employer exceeds sixty percent (60%) of the sum of the Mandatory Contributions Accounts for all other nonbargaining unit Employees of the Employer. Distributions made during such preceding Plan Year shall be added to the Accounts fi-om which they are distributed in making such determination. (2) Key Employee - A Key Employee is any nonbargaining unit employee of the Employer which meets the definition of "Key Employee" under Section 416(i)(l) of the Code. MONEY PURCHASE PENSION AND 401 (K) PLAN OF THE CASCADE PENSION TRUST - PAGE 20 (406922)