Section 4. Automatic Rollovers:

In the event of a mandatory distribution greater than $1,000 in accordance with the provisions of section _____, if the participant does not elect to have such distribution paid directly to an eligible retirement plan specified by the participant in a direct rollover or to receive the distribution directly in accordance with section(s) _____, then the plan administrator will pay the distribution in a direct rollover to an individual retirement plan designated by the plan administrator. For purposes of determining whether a mandatory distribution is greater than $1,000, the portion of the participant’s distribution attributable to any rollover contribution is included.

(Note to reviewer: The first blank should be filled in with the plan section number which provides for mandatory distributions. See LRM #43. The second blank

102 | D e f i n e d C o n t r i b u t i o n P l a n L R M P a c k a g e 0 1 / 2 0 2 4

should be filled in with the plan section number which corresponds to employee elections. The automatic rollover requirements of § 401(a)(31)(B) apply to mandatory distributions made on or after March 28, 2005. However, note that the SECURE 2.0 Act of 2022 increased the immediately distributable dollar limit.)