Tax Deferred Annuity Plan Summary Material Modifications

AMENDMENT NUMBER TWO TO
GETTYSBURG COLLEGE TAX-DEFERRED ANNUITY PLAN

SUMMARY OF MATERIAL MODIFICATIONS

I INTRODUCTION

This is a Summary of Material Modifications regarding the Gettysburg College Tax-Deferred Annuity Plan ("Plan"). Unless stated otherwise, the modifications described in this summary are effective as of August 1, 2024. This is merely a summary of the most important changes to the Plan and information contained in the Summary Plan Description ("SPD") previously provided to you. It supplements and amends that SPD so you should retain a copy of this document with your copy of the SPD. If you have any questions, contact the Plan Administrator. If there is any discrepancy between the terms of the Plan, as modified, and this Summary of Material Modifications, the provisions of the Plan will control.

II SUMMARY OF CHANGES

1. Excluded Employees - Elective Deferrals

If you are a member of a class of employees identified below, you are an Excluded Employee and you are not entitled to participate in the Plan for purposes of elective deferrals. The employees who are excluded are:

  • employees who are enrolled as students and regularly attending classes offered by the Employer

2. Additional Excluded Employee provisions

Employees who normally work less than 20 hours per week, except (1) employees classified as Adjunct Professors who were eligible to participate during the 2023-2024 academic year and (2) employees who would be eligible to participate as Long-Term Part-Time employees and worked at least 500+ hours in the past two calendar years, are excluded. See the Plan Administrator for additional information if you are not sure if this affects you.