Retirement Savings Plan Summary Plan Description (SPD) · This booklet is a summary plan...

Retirement Savings Plan Summary Plan Description (SPD)

January 2017

About This Booklet

This booklet is a summary plan description (SPD). It explains how your plan currently works,

when you qualify for benefits, and other information. If you have questions about the plan or any

of the information in this booklet, contact the HomeServices Human Resources Helpline at 888-

630-9076 or 612-336-5151.

This booklet is designed to help you understand the main features of the plan. It should not be

considered as a substitute for the official plan document, which governs the operation of the plan.

That document sets forth all the details and provisions of the plan and is subject to amendment.

If you previously worked for one of the following companies and had account balances

transferred into this Plan, please see Section 7, Provisions from Certain Plans of Employers

Acquired by HomeServices of America, Inc:

Roberts Brothers, Inc.

Jim Huff Realty, Inc.

CTRE, LLC and CTHM, LLC, formerly PCRE, LLC

Fox & Roach/Trident Limited Partnership

Guarantee Real Estate

Intero Real Estate Services, Inc.

HomeServices Lending, LLC, Trinity Mortgage Affiliates and Academy Financial Services

Pru-One, Inc.

California Title Company

First Weber, Inc.

Midwest Realty Ventures, LLC dba Prudential Rubloff

PCG Agencies, Inc.

Florida Network LLC

If any questions arise that are not covered in this booklet, or if this booklet appears to conflict

with the official plan document, the text of the official plan document will determine how

questions will be resolved.

401(K) PLAN HIGHLIGHTS

Plan highlights briefly describes your plan. The rest of this booklet explains in detail how the

plan works.

Eligibility &

Enrollment

Active full-time and part-time employees working 20 or more hours per

week are eligible to participate in the plan starting on their first day of

employment. Temporary and part-time employees scheduled to work less

than 20 hours per week are not eligible to participate unless they work at

least 1,000 hours during an employment year.

Enroll in the plan by accessing the Merrill Lynch website at

www.benefits.ml.com or by calling Merrill Lynch at 800-228-4015.

When you elect to invest in a fund the prospectuses for the funds elected

are mailed to your home address.

Your

Contributions

You may contribute from 1% to 75% of eligible pay on a pre-tax, Roth or

after-tax basis. The combination of pre-tax, Roth and after-tax

contributions cannot exceed 75% of eligible pay.

All employees who are eligible to make elective deferrals and who have

attained age 50 before the close of the plan year are eligible to make

catch-up contributions. Upon reaching the annual IRS limit, subsequent

pre-tax contributions will be characterized as catch-up unless you elect

otherwise. To change the amount of your election for catch-up

contributions, contact Merrill Lynch to elect a new pre-tax contribution

rate. If you only have Roth contributions and want to make catch-up

contributions you will need to contact Merrill Lynch and elect a pre-tax

contribution rate.

If you are hired on or after April 1, 2008, as a full-time employee

scheduled to work 32 hours or more per week, or hired on or after January

1, 2014 as a full-time employee scheduled to work 30 hours or more per

week, and you fail to make a deferral election (including zero), you will be

deemed to have made an automatic deferral election equal to 3%. The

automatic deferral election will be effective as of the first administratively

feasible payroll period following 45 days after your first day of

employment. The automatic deferral amount will increase by 1% of

eligible pay each Jan. 1, up to a maximum of 6% of eligible pay.

You may elect to have your pre-tax contribution rate automatically

increased each year by 1%, 2% or 3% of eligible pay. You may choose the

month and year in which the automatic increase is first effective.

The dollar limit for elective contributions including catch-up contributions

may change from year to year. The online election materials describe the

annual limit, or Merrill Lynch can provide that limit to you.

http://www.benefits.ml.com/

Company

Contributions

The company matches your contributions at a rate of 50% of every dollar

you contribute, up to the first 6% of eligible pay you contribute to the plan

on a pretax and/or Roth basis. How you invest your contributions also

determines how matching contributions are invested.

Posting

Contributions

Your contributions are posted to your account each pay period.

Vesting

You are always 100% vested in your contributions.

You are 50% vested in company matching contributions after 1 year of

service and 100% vested after 2 years of service.

If in the past you received company core contributions, you are 100%

vested in the company core contributions after 3 years of service. If you

terminate prior to being credited with 3 years of service, you forfeit the

core contributions and any earnings on those contributions.

Expenses Because of the size of the plan, front-end loads and sales charges are

waived. Each fund contains operating fees and expenses, which are

reflected in each fund’s net asset value. There are additional fees you may

incur for a particular transaction or service you select.

Statements Merrill Lynch will mail quarterly statements to your home or you may

print your quarterly statement from www.benefits.ml.com.

Account

Changes

You may make changes to your account at any time including fund

transfers, investment direction changes and change the percent you

contribute via payroll deductions.

Most changes are effective within one business day; changes to the

percent you contribute are effective the next pay period.

Note: Changes are made via the Merrill Lynch website at

www.benefits.ml.com or by calling Merrill Lynch at 800-228-4015. A

confirmation of all transactions will be sent to you.

Loans You may take up to two loans per calendar year with no more than two

outstanding loans at any time.

You may borrow a minimum of $1,000 up to a maximum of 50% of your

vested account balance, or $50,000 (whichever is less).

You pay both principal and interest directly to your account through

payroll deductions over a one to five-year period (10 years for purchase of

a primary residence).

The interest rate is the prime rate plus 1% and is set each quarter; the rate

is fixed for the life of the loan.

The fee for each loan is $40 (administration cost for Merrill Lynch). An

additional fee of $45.00 will be charged by Merrill Lynch to review a

home loan request.

In the event any scheduled payment remains unpaid beyond the last day of

the calendar quarter following the calendar quarter in which the scheduled



payment was missed, the loan balance will be in default. The participant

may make the loan current by paying the missed payments (plus accrued

interest) by the end of the calendar quarter following the quarter in which

a scheduled payment was missed.

In the event of termination of employment before the loan has been paid

in full, the outstanding balance of the loan must be paid within 60 days of

termination or the loan balance will default.

Withdrawals–

Active

Employees

You may withdraw a minimum of $1,000:

From after-tax and rollover contributions.

From pre-tax and Roth contributions if you are age 59½ or older.

From all or part of your pre-tax and Roth contributions in the event of

financial hardship.

From all or part of your balance on the first of the month following the

date you turn age 65.

Note: These withdrawals are taxable as ordinary income and, when made

prior to age 59½, subject to a 10% IRS penalty.

Withdrawals–

Terminated

Employees

If you retire or terminate employment, you may:

Leave your money in the plan if the balance is greater than $1,000.

Take a partial or full distribution.

Roll your money to a qualified plan or IRA. Outstanding loan balance(s)

must be paid in full prior to a rollover request or will be defaulted.

Rollover

Contributions

You may roll over pre-tax and/or Roth contributions and earnings into the

plan from a prior employer’s qualified plan described in section 401(a) or

403(a) or an eligible plan under section 457(b) of the Internal Revenue

Code.

Prior

Employer

Plans

If you previously worked for one of the following companies and had account

balances transferred into this Plan, please see Section 7, Provisions from

Certain Plans of Employers Acquired by HomeServices of America, Inc:



CTRE, LLC and CTHM, LLC, formerly PCRE, LLC




HomeServices Lending LLC, Trinity Mortgage Affiliates and Academy

Financial Services

Pru-One, Inc.


First Weber, Inc.

Midwest Realty Ventures, LLC dba Prudential Rubloff

PCG Agencies, Inc.

Florida Network LLC

i

TABLE OF CONTENTS

ENROLLING IN THE PLAN ......................................................................................SECTION 1

When You May Enroll ...............................................................................................Page 1

Enrollment..................................................................................................................Page 1

Change in Status ........................................................................................................Page 1

CONTRIBUTIONS TO THE PLAN ...........................................................................SECTION 2

Eligible Pay ................................................................................................................Page 2

Participant Contributions ...........................................................................................Page 2

Matching Contributions .............................................................................................Page 3

General Limitations on Contributions .......................................................................Page 3

Making Changes ........................................................................................................Page 4

YOUR ACCOUNT: OWNERSHIP AND GENERAL INFORMATION ................SECTION 3

Your Account .............................................................................................................Page 5

Investment of Your Account ......................................................................................Page 5

Vesting in Your Account ...........................................................................................Page 5

Credit for Military Leave ...........................................................................................

Family and Medical Leave Act (FMLA) ...................................................................Page 6

Leaving the Company Before Your Vesting Percentage is 100% .............................Page 6

What Happens to Forfeited Funds .............................................................................Page 6

Borrowing From Your Account .................................................................................Page 6

Reports To Participants ..............................................................................................Page 7

PLAN BENEFITS ..........................................................................................................SECTION 4

Withdrawals from After-Tax and Rollover Accounts................................................Page 8

Withdrawals from Pre-tax and Roth Accounts ..........................................................Page 8

Withdrawals from Company Matching Contributions Accounts………………… ..Page 9

Termination/Reaching Normal Retirement Age ........................................................Page 10

Death Benefits ............................................................................................................Page 10

Tax Considerations ....................................................................................................Page 11

IMPORTANT INFORMATION FOR YOU ...............................................................SECTION 5

Your Rights ................................................................................................................Page 13

Prudent Actions by Plan Fiduciaries ..........................................................................Page 13

Enforcement of Your Rights ......................................................................................Page 13

Assistance with Your Questions ................................................................................Page 14

Spouse's Rights ..........................................................................................................Page 14

Plan Administrator .....................................................................................................Page 14

ii

Direct Rollovers .........................................................................................................Page 15

Assigning Your Benefits/Qualified Domestic Relations Orders (QDROs) ...............Page 15

Your Social Security Benefits ....................................................................................Page 15

Right to Amend or Terminate ....................................................................................Page 15

Terminating the Plan ..................................................................................................Page 15

Your Plan and the Pension Benefit Guaranty Corporation (PBGC) ..........................Page 16

Not a Contract of Employment ..................................................................................Page 16

IRS Approval .............................................................................................................Page 16

Top-Heavy Rules .......................................................................................................Page 16

Claims Procedure .......................................................................................................Page 16

ERISA DISCLOSURE OF INFORMATION .............................................................SECTION 6

Compliance with ERISA Section 404(c) ...................................................................Page 18

Investment Instructions and Voting Rights ................................................................Page 18

Transaction Fees and Expenses..................................................................................Page 19

Additional Information ..............................................................................................Page 19

Refusal to Implement Certain Investment Instructions ..............................................Page 20

Facts about the Plan ...................................................................................................Page 21

PROVISIONS FROM CERTAIN PLANS OF EMPLOYERS ACQUIRED BY

HOMESERVICES OF AMERICA, INC…………………………………………… SECTION 7

Roberts Brothers, Inc .................................................................................................Page 23

Jim Huff Realty, Inc ...................................................................................................Page 23

CTRE, LLC and CTHM, LLC, formerly PCRE, LLC ...............................................Page 23

Fox & Roach/Trident Limited Partnership ................................................................Page 23

Guarantee Real Estate ................................................................................................Page 24

Intero Real Estate Services ........................................................................................Page 24

HomeServices Lending, LLC, Trinity Mortgage Affiliates and Academy

Financial Services ......................................................................................................Page 25

Pru-One, Inc. .............................................................................................................Page 25

California Title Company .........................................................................................Page 25

First Weber, Inc .........................................................................................................Page 25

Midwest Realty Ventures, LLC dba Prudential Rubloff ............................................Page 26

PCG Agencies, Inc. ...................................................................................................Page 26

Florida Network LLC ………………………………………………………………Page 26

1

SECTION 1 – ENROLLING IN THE PLAN

When You May Enroll

You are automatically eligible for the plan as an active participant on your first day of

employment if you are a full-time or part-time employee working 20 or more hours per week.

Note: Temporary employees and part-time employees scheduled to work less than 20 hours per

week are not eligible to participate unless they work at least 1,000 hours during an employment

year.

Enrollment

To begin contributing, follow the instructions below:

Determine the amount of pay you wish to contribute. Section 2 provides more information

about these contributions, including how much of your salary you may contribute and

company matching contributions.

Determine how to invest your contributions. Information about the plan’s investment options

is available by accessing the Merrill Lynch website at www.benefits.ml.com or contacting

Merrill Lynch at 800-228-4015.

Contact Merrill Lynch to complete your election. Depending on the date you make your

election, your contributions will begin on the next available payroll.

Designate your beneficiary through Merrill Lynch, either online or by telephone at

www.benefits.ml.com or 800-228-4015.

Change in Status

You become an inactive participant on the date you are no longer an eligible employee or cease

contributions.

You may rejoin the plan as an active participant when you work one hour of service as an eligible

employee and begin contributions.

Your participation in the plan ends on the date you are no longer an eligible employee and your

account balance is zero.



2

SECTION 2 - CONTRIBUTIONS TO THE PLAN

Eligible Pay

Eligible pay includes W-2 pay plus amounts deferred under Internal Revenue Code Section 125

and 401(k) excluding fringe benefits, sign-on bonuses, long-term incentive pay, severance

payments, car allowances, fitness reimbursements and exam awards.

Participant Contributions

Subject to the limits that follow, participants may contribute from 1% to 75% of eligible pay on a

pre-tax, Roth or after-tax basis. The combination of pre-tax, Roth and after-tax contributions

cannot exceed 75% of eligible pay.

Pre-tax Contributions: These contributions reduce your current taxable income and any earnings

are tax-deferred, but distributions are fully taxable as ordinary income at the time of distribution.

Automatic Deferral Contributions: These are pre-tax contributions that reduce your current

taxable income and any earnings are tax-deferred, but distributions are fully taxable as ordinary

income at the time of distribution. If you are hired on or after April 1, 2008, as a full-time

employee scheduled to work 32 hours or more per week, or hired on or after January 1, 2014, as

a full-time employee scheduled to work 30 hours or more per week, and you fail to make a

deferral election (including zero), you will be deemed to have made an automatic deferral

election equal to 3%. The automatic deferral election shall be effective as of the first

administratively feasible payroll period following 45 days after your first day of employment.

The automatic deferral amount will increase by 1% of eligible pay each Jan. 1, up to a maximum

of 6% of eligible pay. The automatic increase will exclude those participants who are

automatically enrolled within the four month period prior to the beginning of each year. The

automatic increase for these participants will occur the Jan. 1 following 12 months from your

date of hire.

After-tax Contributions: These contributions are made after taxes are withheld, but the taxes on

any investment earnings is deferred until funds are withdrawn from the plan. Taxes on any

investment earnings is deferred until funds are withdrawn from the plan.

Roth Contributions: These contributions are made after taxes are withheld, meaning you pay

federal and state tax on the amount contributed in the current year. Unlike after-tax contributions,

in most cases, any potential earnings on Roth contributions are not subject to federal or state

taxes when funds are withdrawn from the plan. In order for a distribution to be tax-free, it must

be a qualified distribution.*

3

*A qualified distribution is one that is taken at least five tax years after the

year in which the first Roth contribution is made and after a participant has

attained age 59 ½ (or upon disability or death). If a distribution from your

Roth account does not meet the requirements for a qualified distribution, the

earnings distributed with the Roth contributions will be taxable to you at the

time of distribution (unless you roll over the distribution to a Roth IRA or

other 401(k) plan or 403(b) plan that will accept the rollover). In addition, in

some cases, there may be a 10% excise tax on the earnings that are distributed.

You may elect to have your pre-tax contribution rate increased automatically each year by the

percentage you choose, subject to the maximum 75% of eligible pay discussed above. With this

automatic increase feature, you may choose the month and year in which the automatic increase

is first effective. You select the annual percentage increase amount, from 1% to 3%, and the

maximum contribution rate at which the increases will stop. You may stop the automatic increase

feature at any time.

All employees who are eligible to make elective deferrals and who have attained age 50 before

the close of the plan year, are eligible to make catch-up contributions above annual IRS pre-tax

contribution limits. Contact Merrill Lynch or the IRS for the current year’s catch-up limit.

Upon reaching the annual IRS pre-tax contribution limit, additional pre-tax contributions will be

considered catch-up contributions unless you elect otherwise. To change the amount of your

election for catch-up contributions, contact Merrill Lynch to elect a new pre-tax contribution rate.

If you only have Roth contributions and want to make catch-up contributions, contact Merrill

Lynch to elect a pre-tax contribution rate.

Matching Contributions

Matching contributions give you an immediate return on the amount you save. The company

matches your contributions at a rate of 50% of every dollar you contribute, up to 6% of pay

contribute on a pretax and/or Roth basis to the plan. Contributions over 6% of pay are not

matched.

General Limitations on Contributions

Federal regulations limit the total pre-tax and Roth savings you can contribute. This limit is set

annually by the IRS based on inflation. You can find out what that limit is for each year by going

to the plan website or contacting Merrill Lynch.

The plan is subject to nondiscrimination rules under the Internal Revenue Code. Depending on

the results of nondiscrimination tests, applicable employee and employer contributions may be

reduced or eliminated for highly compensated employees.

4

Making Changes

You may begin pre-tax, Roth or after-tax contributions on the date you enter the plan. If you do

not make an election to contribute at that time, you may begin contributions or change the

amount of your contributions on any future date. At any time, you may increase or decrease your

contributions and may start or stop the automatic increase feature. In addition, you may stop your

savings contributions at any time. However, if you take a hardship withdrawal, you may not

contribute to the plan for six months following the hardship withdrawal.

You may transfer all or part of your account balance from one investment fund to another and

make investment direction changes to future contributions. These changes are generally effective

within one business day after making the change. Transfers to and from the Self-Direct

Brokerage service are generally effective within three business days after making the change.

Contact Merrill Lynch via their website at www.benefits.ml.com or at 800-228-4015 to make

changes to your account. A confirmation of all transactions will be sent to you.


5

SECTION 3 - YOUR ACCOUNT: OWNERSHIP AND GENERAL

INFORMATION

Your Account

When you make plan contributions, an account is created to hold your money. Your contributions

are credited to your account each pay period. Your account equals the current value of your

contributions and any company contributions plus or minus any earnings or losses on the

contributions.

Investment of Your Account

The plan provides several investment options. You may invest in one or all of these options in

multiples of 1% as long as they total 100%. How you invest your contributions also determines

how the company contributions are invested.

If no investment designation, or an incomplete investment designation, is made for contributions

to your account, the contributions for which no investment designation is made will be invested

in the PersonalManager feature of Advice Access, and the contributions will be invested

according to Advice Access recommendations.

You may change your investment direction for future contributions. The change is effective with

the next contribution made following the date you make the change. In addition, you may direct

that all or any part of your account balance be transferred to one or more other investment

options.

Pre-tax, Roth and after-tax contributions are transferred to the fund managers for investment each

payroll period. Any company contributions are transferred to the fund managers when made by

the company.

Vesting in Your Account

You are always 100% vested in your contributions. You are 50% vested in company matching

contributions after 1 year of service and 100% vested after 2 years of service, or upon death,

disability or normal retirement age (65).

If, in the past, you received company core contributions, you are 100% vested in core

contributions after completing 3 years of service (no vesting if less than 3 years of service).

To receive credit for a year of service for vesting, an employee must complete 1,000 hours of

service during a calendar year.

6

Credit for Military Leave

The Uniformed Services Employment and Reemployment Rights Act (USERRA) is a federal law

that guarantees certain rights to individuals who enter military service.

The rule generally provides that an employee on qualified military leave is entitled to the same

rights and benefits the company provides to similarly situated employees on other types of leave.

USERRA also imposes specific requirements with respect to certain benefits. For example, you

are entitled to special 401(k) rights upon reemployment, meaning your leave will be treated as

employment with the company for purposes of administering the break in service rules and

determining vesting and benefit accruals under this plan. There may also be benefits for

employees who die or become disabled while on active duty. Employees who receive wage

continuation payments while in the military may benefit from law changes effective in 2009. If

you think you may be affected by these rules, ask the Plan Administrator for further details.

Family and Medical Leave Act (FMLA)

FMLA gives you the right to take time off for certain family and medical reasons and still keep

certain coverages and rights under various company benefit plans.

Leaving the Company Before Your Vesting Percentage is 100%

If you leave the company before you are 100% vested, you forfeit the part of your account that is

not vested. The company will restore this forfeited amount if you come back to work as an

eligible employee before you incur five consecutive one-year breaks in service.

What Happens to Forfeited Funds

Forfeited funds are used to pay plan expenses and to offset company contributions. Only

company contributions can be forfeited as you are always 100% vested in your own

contributions.

Borrowing From Your Account

Active employees may borrow from their vested account balance by accessing the Merrill Lynch

website at www.benefits.ml.com or by contacting Merrill Lynch at 800-228-4015. The rules that

apply to loans can be found in the Loan Policy. A summary of the rules that apply to loans

follows:

You may request the amount, term, and type of loan. You may take two new loans out in any

calendar year and may have up to two outstanding loans at any time.

You will be charged a one-time fee of $40 for each loan (administration cost for Merrill


7

Lynch). An additional qualification fee of $45.00 will be charged by Merrill Lynch to review

a home loan request. These loan fees, if applicable, will be deducted from your account

balance.

You may not take a loan in an amount less than $1,000 or which exceeds 50% of the vested

account balance. The maximum aggregate dollar amount of all loans outstanding to you may

not exceed $50,000.

You are required to make repayment of the loan in full over a term that shall not exceed five

years, except for loans used to acquire your principal residence, in which case the period of

repayment shall not exceed ten years. If you request a home loan you must provide evidence

of the purchase of a principal residence to document the need for this type of loan.

Your loans will be documented by Merrill Lynch. You will secure each loan with an

irrevocable pledge and assignment of a portion of your vested account balance under the plan

equal to the outstanding loan balance.

You must make repayments by payroll deduction in equal installments. You may prepay the

loan in whole at any time without penalty. If you fail to pay any principal or interest when

due your loan will be considered in default under the note as of the end of the calendar

quarter following the date of the missed payment unless you pay the missed payments (plus

accrued interest) by the end of such calendar quarter.

In the event of your termination of employment before the loan has been paid in full, the

outstanding balance of the loan must be paid within 60 days of termination or the loan

balance will default.

Your loan shall bear interest at a rate equal to the prime rate as published in The Wall Street

Journal on the last business day of the calendar quarter that ends immediately prior to the

date of the loan, plus one percent.

You will not receive a distribution from the plan, unless and until all plan loans, including

interest, have been repaid or liquidated out of the funds otherwise distributable to you.

Reports To Participants

You will receive quarterly statements detailing account balances, contributions, loans, and

investment results. These statements are also available by logging into your account at

www.benefits.ml.com.


8

SECTION 4 - PLAN BENEFITS

Withdrawals from After-Tax and Rollover Accounts

You may make an in-service withdrawal from your after-tax and rollover accounts. The amount

of the withdrawal must be at least $1,000.

Withdrawals of after-tax contributions are not subject to an early withdrawal penalty. However,

earnings on after-tax contributions may be subject to a 10% penalty tax if you have not attained

age 59½ when such withdrawal is made.

Withdrawals from a pre-tax rollover account are subject to mandatory 20% federal tax

withholding and may also be subject to mandatory state tax withholding. A 10% penalty tax may

apply if you have not attained age 59½ when the withdrawal is made.

Withdrawals from Pre-tax and Roth Accounts

Withdrawals may be made from your pre-tax and Roth contributions if you have attained age

59½, become disabled, or demonstrate financial hardship. The amount of the withdrawal must be

at least $1,000.

Financial hardship will be deemed to exist only when the withdrawal is necessary because of an

immediate and heavy financial need you experience and other resources are not reasonably

available to satisfy this need. You must be able to provide evidence of your immediate and heavy

financial need. A distribution based upon financial hardship cannot exceed the amount required

to satisfy the hardship, including any amounts necessary to pay any federal, state, or local income

taxes or penalties reasonably anticipated to result from the distribution, and is limited to pre-tax

and Roth contributions. In addition, you must first exhaust the Plan’s loan provisions before you

may take a hardship withdrawal. Financial hardship is limited to the following circumstances:

Medical care expenses described in Internal Revenue Code §213(d) incurred by you, your

spouse, or by any of your dependents;

The purchase (excluding mortgage payments) of your principal residence;

The payment of post-secondary education tuition for the next 12-month period, for you, your

spouse, or any of your dependents (as defined in Internal Revenue Code §152);

To prevent eviction from your principal residence or the foreclosure on the mortgage of your

principal residence;

The payments for burial or funeral expenses for your deceased parent, spouse, children or

9

dependents (as defined in Code Section 152, but without regard to Code Section

152(d)(1)(B));

Expenses for the repair of damage your principal residence that would qualify for the casualty

deduction under Code Section 165 (determined without regard to whether the loss exceeds

10% of adjusted gross income); or

Any need prescribed by the Internal Revenue Service in a revenue ruling, notice or other

document of general applicability, which satisfies the safe harbor definition of hardship.

If you take a hardship withdrawal, you cannot make pre-tax or Roth contributions for a six-month

period following the hardship distribution.

Effective September 1, 2009, if your primary beneficiary under the Plan has a “qualifying

beneficiary hardship”, then you may take a hardship distribution from your elective deferrals

under the Plan to assist your beneficiary with the hardship. Your primary beneficiary is anyone

that you properly designate under the plan terms, or, if you fail to designate a beneficiary, your

beneficiary under the Plan’s “default” provisions. A “qualifying beneficiary hardship” includes

certain medical expenses, educational expenses and funeral expenses.

Effective September 1, 2009, if you: (i) are a reservist or National Guardsman; (ii) were/are

called to active duty after September 11, 2001; and (iii) were/are called to duty for at least 180

days or for an indefinite period, you may take a distribution of your elective deferrals under the

Plan while you are on active duty, regardless of your age. The 10% excise tax, normally

applicable to Plan distributions made before you reach age 59½, will not apply to the

distribution. You also may repay the distribution to an IRA, without limiting amounts you

otherwise could contribute to the IRA, provided you make the repayment within 2 years

following your completion of active duty.

Withdrawals from Company Matching Contributions Account

You may not take an in-service withdrawal from your company matching contributions account.

10

Termination/Reaching Normal Retirement Age

Withdrawals may be made from your pre-tax, Roth, after-tax, or employer matching

contributions at the time you terminate employment from the company or reach Normal

Retirement Age. The withdrawal must be at least $1,000.

Normal Retirement Age means the date you reach age 65.

Upon reaching Normal Retirement Age or termination of employment with the company, you

may leave your money in the plan; take partial or full distribution or rollover money to a

qualified plan or Individual Retirement Account (IRA). A distribution is made in accordance

with your election. To request a distribution, contact Merrill Lynch. If you reach Normal

Retirement Age and continue to work for the company, you will continue to be a Participant in

the plan and will, therefore, be eligible to continue to make contributions and be eligible for

matching and other company contributions for which you qualify.

Under no circumstances will distributions commence later than April 1 of the calendar year

following the year in which you attain age 70½ or retire, whichever is later. If you have not

requested distribution of the entire value in your account on or before April 1 of the calendar year

following the year in which you attain age 70½ or retire, you must receive a distribution that

equals or exceeds the minimum amount required by law.

In any event, if the total value of your account is $1,000 or less, and has not exceeded $1,000 at

the time of any prior distribution, you will receive a distribution of the entire amount as soon as

administratively practical following your termination of employment.

Withdrawals of after-tax contributions are not subject to an early withdrawal penalty. Earnings

on after-tax contributions may be subject to a 10% penalty tax if you have not attained age 59 ½

when such withdrawal is made.

Withdrawals from a pre-tax account are subject to mandatory 20% federal tax withholding and

may also be subject to mandatory state tax withholding. A 10% penalty tax may apply if you

have not attained age 59 ½ when the withdrawal is made.

Death Benefits

If you die before receiving a distribution, payment will be made to your beneficiary at such time

as the beneficiary elects within five years after the date of your death. If your beneficiary is a

spouse, the payment may be deferred until the date on which you would have attained age 70½.

At that time, your surviving spouse must elect to take a minimum distribution as required by law.

If the beneficiary is a non-spouse beneficiary, the non-spouse beneficiary may roll over all or any

portion of his or her distribution if done in the year of death or the year following death, by direct

trustee-to-trustee transfer, to an individual retirement account the non-spouse beneficiary

establishes for purposes of receiving the distribution (referred to as a “decedent rollover IRA”).

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A non-spouse beneficiary may not roll over an amount which is a required minimum distribution.

Tax Considerations

Federal Income Tax Consequences

The plan sponsor has received from the Internal Revenue Service a determination letter that

satisfies the requirements to be a qualified plan under Section 401 (a) of the Internal Revenue

Code. Based on this determination letter, the company will be entitled to deduct the pre-tax and

Roth elective contributions and the company matching contributions made on behalf of its

employees; the income earned on the assets held under the plan will be exempt from federal

income tax; no participant will be subject to federal income tax on amounts (other than Roth and

after-tax elective contributions) contributed to the plan for his or her benefit until such amounts

are distributed or withdrawn as described above; and the disbursement of a participant's plan

accounts will be taxable in the manner described below. Disbursements under the plan will be

subject to the withholding of federal income tax unless the recipient elects to directly roll the

distribution to an IRA or qualified plan of his or her new employer.

In general, pre-tax elective contributions will be treated as though the company made them.

Accordingly, the amount of your compensation subject to federal income tax will be reduced by

your pre-tax elective contributions. The amount of a participant's compensation subject to federal

income tax will not be reduced by your Roth or after-tax elective contributions. The aggregate

amount of pre-tax, Roth, after-tax and company matching contributions made on behalf of a

participant who is a “highly compensated employee,” as defined in the Internal Revenue Code,

for any plan year may be reduced at any time by the Committee to the extent necessary to ensure

that the plan will continue to comply with the requirements of the Internal Revenue Code. Such

reduction may be effected by decreasing the amount of future pre-tax, Roth or after-tax

contributions for such plan year, refunding a portion of the prior pre-tax, Roth or after-tax

contributions for such plan year or combining such methods, as determined by the Committee.

To the extent such a reduction or refund is made, or to the extent additional reductions are

necessary in order to ensure that the plan will continue to comply with applicable Internal

Revenue Code requirements, the amount of company matching contributions will be

appropriately adjusted. The amount of pre-tax (plus any earnings thereon) and any earnings on

Roth contributions that have not met the distribution requirements, refunded to a participant will

be included in the amount of his or her compensation subject to federal income tax. Although not

subject to federal income tax, pre-tax contributions are subject to federal employment taxes

(Social Security taxes).

12

Deferral of Tax on Direct Rollovers

Rollover contributions of pre-tax and/or Roth contributions and earnings are subject to special

tax rules and will result in a deferral of tax on the amounts rolled into another qualified plan.

Whenever you receive a distribution, Merrill Lynch will provide you a more detailed explanation

of the tax consequences and rollover rights. You should, however, consult tax counsel before

requesting a distribution.

Loans

You are not generally subject to federal income tax on amounts borrowed from the plan.

However, default on a promissory note for a loan will result in any pre-tax unpaid principal

amount of the loan, plus the accrued interest, being treated as a taxable distribution.

In general, interest you pay with respect to amounts borrowed from the plan is not deductible.

Excise Tax On Distributions Made Before Age 59½

A 10% excise tax will be imposed on the taxable portion of any distribution or withdrawal made

under the plan before you attain age 59½, unless such distribution or withdrawal (i) is by reason

of your death or disability, (ii) does not exceed the amount of specified eligible medical

expenses, (iii) is made to a recipient other than yourself pursuant to a divorce decree or

agreement recognized by the plan, or (iv) is by reason of your termination of employment after

age 55. Such excise tax is not applicable to the extent that the amount of such disbursement is

rolled over to another eligible retirement plan.

13

SECTION 5 - IMPORTANT INFORMATION FOR YOU

Your Rights

As a participant in the plan, you have certain rights and protections under the Employee

Retirement Income Security Act of 1974 (ERISA). You have the right to information about the

plan, such as how it operates, and an explanation of the benefits to which you are entitled under

the terms of the plan. Specifically, ERISA provides that all plan participants have the right to:

Examine, without charge, at the plan administrator’s office all documents governing the plan,

including insurance contracts and collective bargaining agreements, and a copy of the latest

annual report (Form 5500 Series) filed by the plan with the U.S. Department of Labor and

available at the Public Disclosure Room of the Employee Benefits Security Administration.

Obtain, upon written request to the plan administrator, copies of documents governing the

operation of the plan, including insurance contracts and collective bargaining agreements,

and a copy of the latest annual report (Form 5500 Series) and updated summary plan

description. The administrator may make a reasonable charge for the copies.

Receive a summary of the plan’s financial report. The plan administrator is required by law to

furnish each participant with a copy of this summary annual report.

Obtain once a year, a statement of your account values, and what part of these values would

be yours if you stop working under the plan now. If you do not have a right to these values,

the statement will tell you how many years you have to work to get a right to all or a part of

these values. This statement must be requested in writing and is not required to be given

more than once every 12 months. The plan must provide the statement free of charge.

Prudent Actions by Plan Fiduciaries

In addition to creating rights for plan members, ERISA imposes duties upon the people who are

responsible for the operation of the employee benefit plan. The people who operate your plan,

called “fiduciaries” of the plan, have a duty to do so prudently and in the interest of you and other

plan participants and beneficiaries. No one, including your employer, your union, or any other

person, may terminate your employment or otherwise discriminate against you in any way to

prevent you from obtaining a welfare benefit or exercising your rights under ERISA.

Enforcement of Your Rights

If your claim for a benefit is denied or ignored, in whole or in part, you have a right to know why

this was done, to obtain copies of documents relating to the decision without charge, and to

appeal any denial, all within certain time schedules.

14

Under ERISA, there are steps you can take to enforce the above rights. For instance, if you

request a copy of plan documents or the latest annual report from the plan and do not receive

them within 30 days, you may file suit in Federal court. In such case, the court may require the

plan administrator to provide the materials and pay you up to $110 a day until you receive the

materials, unless the materials were not sent because of reasons beyond the control of the

administrator. If you have a claim for benefits, which is denied or ignored, in whole or in part,

and you have exhausted the administrative remedies available under the plan, you may file a suit

in a state or Federal court. In addition, if you disagree with the plan’s decision or lack thereof

concerning the qualified status of a domestic relations order, you may file suit in a Federal court.

If it should happen that plan fiduciaries misuse the plan's money, or if you are discriminated

against for asserting your rights, you may seek assistance from the U.S. Department of Labor, or

you may file suit in a Federal court. The court will decide who should pay court costs and legal

fees. If you are successful, the court may order the person you have sued to pay these costs and

fees. If you lose, the court may order you to pay these costs and fees, for example, if it finds your

claim is frivolous.

Assistance with Your Questions

If you have any questions about the plan, you should contact the plan administrator. If you have

any questions about this statement or about your rights under ERISA, or if you need assistance in

obtaining documents from the plan administrator, you should contact the nearest office of the

Employee Benefits Security Administration, U.S. Department of Labor, listed in your telephone

directory or the Division of Technical Assistance and Inquiries, Employee Benefits Security

Administration, U.S. Department of Labor, 200 Constitution Avenue N.W., Washington, D.C.

20210.

You may also obtain certain publications about your rights and responsibilities under ERISA by

calling the publication hotline of the Employee Benefits Security Administration.

Spouse's Rights

Other parts of this booklet refer to a spouse's rights. Federal law gives these rights to a spouse for

his or her protection.

If you have been married for more than one year, your spouse must consent to any beneficiary

you name, if not your spouse.

Plan Administrator

The plan administrator has the full power to decide what the plan provisions mean; to answer all

questions about the plan, including those about eligibility and benefits; and to supervise the

administration of the plan. The plan administrator's decisions are final.

15

Direct Rollovers

Certain benefits which are payable to you may be paid directly to another retirement plan,

individual retirement account or individual retirement annuity.

In addition, you may roll over an amount from another qualified retirement plan to this plan. The

amount comes from contributions made because of your past participation in that other plan. This

is a rollover contribution and it becomes a part of your vested account. Rollover contributions

must meet federal rules; contact Human Resources if you are interested in knowing more about

them.

You decide how to invest your rollover contributions among the investment options in the plan.

You may withdraw your rollover contributions at the same time(s) as you may withdraw those

contributions allowed to be withdrawn in Section 4.

Assigning Your Benefits/Qualified Domestic Relations Orders (QDROs)

Benefits under the plan cannot be assigned, transferred, or pledged to someone else. The plan

does make an exception for certain qualified domestic relations orders such as alimony payments

or marital property rights to a spouse or former spouse.

Your plan administrator will set up procedures to determine if a domestic relations order is

qualified. As a participant or beneficiary of this plan, you are entitled to obtain, without charge, a

copy of these procedures on request.

Your Social Security Benefits

Your benefits from this plan are in addition to your benefits from Social Security. You should

contact the Social Security Administration Office to apply for Social Security (and Medicare)

benefits three months before you wish payments to begin.

Right to Amend or Terminate

The plan can be changed at any time by action of the board of directors or the administrative

committee. The company will notify you of any changes that affect your benefits.

Terminating the Plan

The company hopes to continue the plan, but the plan can be terminated (ended) at any time by

action of the board of directors. If the plan is terminated, the full amount in your account will be

used to provide a retirement benefit for you.

16

Your Plan and the Pension Benefit Guaranty Corporation (PBGC)

This is a defined contribution plan and is not insured by the Pension Benefit Guaranty

Corporation (PBGC). The Employee Retirement Income Security Act of 1974 (ERISA) excludes

plans like this one from insurance through the PBGC.

Not a Contract of Employment

This summary plan description (SPD) provides detailed information about the plan and how it

works. The SPD does not constitute an implied or expressed contract or guarantee of

employment.

IRS Approval

The plan is subject to the continuing approval of the Internal Revenue Service (IRS) and it may

be necessary for the company to make amendments from time to time to accommodate changes

in IRS regulations.

Top-Heavy Rules

Under a complicated set of IRS rules explained in the plan document, the plan may become a

“top-heavy plan.” A top-heavy plan is one where more than 60 percent of contributions or

benefits have been allocated to “key employees.” Key employees are generally owners, officers,

shareholders or highly compensated employees.

The plan administrator is responsible for determining whether the plan is top-heavy. In the

unlikely event the plan becomes top-heavy in any year, non-key employees may be entitled to

certain minimum benefits, and special rules will apply. If this occurs, the plan administrator will

advise you of your rights under the top-heavy rules.

Claims Procedure

Claims for benefits under the Plan must be submitted in writing to the plan administrator.

If, for any reason, your claim for benefits under the plan is denied, the plan administrator will

notify you in writing of the denial within 90 days (45 days in the case of a disability claim) after

your claim was first submitted, unless special circumstances require a 90-day (30-day in the case

of a disability claim) extension of time for processing the claim. The notice of claim denial will

include:

The reason for the denial;

The plan provision(s) on which the denial is based;

17

A description of any additional material or information needed to process the claim;

An explanation of why the material or information is needed; and

The procedure you should follow to request a review of the denial.

If your claim is denied, in whole or in part, you may request a review of the denied claim by a

written application to the plan administrator within 60 days (180 days for denial of a disability

claim) after you are notified for the denial. You may review pertinent documents and submit

issues and comments in writing.

If a request for review is made, the plan administrator will give you a full and fair review of the

original decision to deny the claim.

The plan administrator will notify you in writing of its decision on your appeal within 60 days

(45 days for a disability claim) after your request is received. Extensions for deciding the appeal

are permitted in special circumstances. The notice will include specific reasons for the decision

and the plan provisions upon which the decision is based.

The plan administrator’s decision is final and binding on all parties.

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SECTION 6 - ERISA DISCLOSURE OF INFORMATION

Compliance with ERISA Section 404(c)

The plan is a defined contribution pension plan designed to provide employees with a convenient

method of setting aside and accumulating savings during their years of employment. The plan is

also designed to take advantage of provisions of the Internal Revenue Code of 1986, as amended,

to reduce taxable compensation, with the reduction being contributed to the plan by the company

on behalf of the participant. Contributions may also be made on an after-tax basis. These

contributions are invested in one or more investment funds or alternatives selected by the

participant, and the earnings on these investments are not subject to federal income tax until

withdrawn from or distributed under the plan.

The plan is intended to constitute a plan described in Section 404(c) of ERISA and Section

2550.404c-1 of Title 29 of the Code of Federal Regulations. A plan that meets these

requirements permits participants or beneficiaries to exercise control over assets in their plan

accounts. As a result, members of the Committee, as fiduciaries of the plan may be relieved of

liability for any losses, which are the direct and necessary result of investment instructions given,

by a plan participant or beneficiary.

Investment Instructions and Voting Rights

Plan participants and beneficiaries will be assigned a Personal Identification Number (PIN) by

Merrill Lynch, Pierce, Fenner & Smith Incorporated (Merrill Lynch), the plan's recordkeeper.

Merrill Lynch is authorized to execute investment instructions received via the website or

telephone from participants and beneficiaries upon verification of the PIN. Merrill Lynch will

issue a written confirmation for each investment instruction it executes.

Participants and beneficiaries may:

Transfer funds among investment alternatives daily, with a cut-off time of 2:00 p.m. Central

Standard Time. Directions received after this time will be executed the next business day.

Transfers to and from the Self-Direct Brokerage service generally take three business days.

Change the amount of, suspend or resume contributions at any time, effective with the next

available payroll processing.

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Change the investment of contributions daily, with a cut-off time of 2:00 p.m. Central

Standard Time. Directions received after this time will be executed the next business day.

These changes will be effective with the first contribution following the change. Members of

the Committee, as plan fiduciaries, will exercise voting, tender and similar rights with respect

to plan investment alternatives.

Members of the Committee, as plan fiduciaries, will exercise voting, tender and similar rights

with respect to plan investment alternatives.

Transaction Fees and Expenses

There are no transaction fees and expenses that affect a participant’s or beneficiary’s account

balance in connection with purchases or sales of interests in the core investment alternatives.

Examples of these fees and expenses include sales loads, deferred sales charges and redemption

or exchange fees. However, the Self-Direct Brokerage service may include these charges,

depending on the transaction.

Additional Information

Participants and beneficiaries may request the following information by contacting the Secretary

of the Committee, whose address is:

MidAmerican Energy Company

Pension and Employee Benefits Plans Administrative Committee Secretary

PO Box 657

Des Moines, Iowa 50306-0657

A description of the annual operating expenses of each designated investment alternative

(e.g., investment management fees, administrative fees, transaction costs), which reduce the

rate of return to participants and beneficiaries, and the aggregate amount of such expenses

expressed as a percentage of average net assets of the designated investment alternative.

A copy of any prospectus, financial statement and report, and of any other material relating to

the investment alternatives available under the plan, to the extent such information is

provided to the plan.

A list of the assets comprising the portfolio of each designated investment alternative which

constitute plan assets within the meaning of 29 CFR 2510.3-10l, the value of each such asset

(or the proportion of the investment alternative which it comprises), and, with respect to each

such asset which is a fixed-rate investment contract issued by a bank, savings and loan

association or insurance company, the name of the issuer of the contract, the term of the

contract and the rate of return on the contract.

20

Information concerning the value of shares or units in designated investment alternatives

available to participants and beneficiaries under the plan, as well as the past and current

investment performance of such alternatives, determined, net of expenses, on a reasonable

and consistent basis.

Information concerning the value of shares or units in designated investment alternatives held

in the account of the participant or beneficiary.

Refusal to Implement Certain Investment Instructions

The Committee, and Merrill Lynch as its designee, may refuse to implement certain investment

instructions that would:

Result in a prohibited transaction under Section 406 of ERISA or Section 4975 of the

Internal Revenue Code; or

Generate income taxable to the plan.

The Committee, and Merrill Lynch as its designee, are obligated under Section 404(c) of ERISA

to refuse to implement investment instructions that:

Would not be in accordance with the Plan Document and Savings Trust to the extent that said

documents are consistent with the provisions of Title I of ERISA;

Would cause the incidents of ownership of any plan assets outside of the jurisdiction of the

district courts of the United States other than as permitted by Section 404(b) of ERISA and

Section 2550.404b-1 of Title 29 of the Code of Federal Regulations;

Would jeopardize the plan's tax qualified status under the Internal Revenue Code; or

Could result in a loss in excess of a participant's or beneficiary's account balance.

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FACTS ABOUT THE PLAN

Plan Sponsor and Identification Number

HomeServices of America, Inc.

333 South 7th Street, 27th Floor

Minneapolis, MN 55402

EIN: 41-1945806

Plan Name and Plan Number

HomeServices Retirement Savings Plan

PN: 010

Type of Plan

401(k) Profit Sharing

Plan Administrator

Pension and Employee Benefits Plans Administrative Committee

C/o MidAmerican Energy Company

PO Box 657

Des Moines, IA 50306-0657

Telephone: (515) 281-2999 or (800) 432-8999

Type of Administration

Employer and Trustee

Plan Year

January 1 through December 31

Trustee of the Plan

MLTC, FSB

1400 Merrill Lynch Drive

Mail Stop #04-4N-G

Pennington, NJ 08534

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Agent for Legal Process of the Plan

Pension and Employee Benefits Plans Administrative Committee Secretary

MidAmerican Energy Company

PO Box 657

Des Moines, IA 50306-0657

Service of legal process may also be made on the plan trustee.

23

SECTION 7 - PROVISIONS FROM CERTAIN PLANS

OF EMPLOYERS ACQUIRED BY HOMESERVICES OF

AMERICA, INC.


All employees of Roberts Brothers, Inc. who had account balances from the Roberts Brothers,

Inc. 401(k) Profit Sharing Plan transferred to this Plan may take an in-service withdrawal of

matching contributions in which they are 100% vested.


All employees of Jim Huff Realty, Inc. who had account balances from the Huff Realty 401(k)

Plan transferred to this Plan shall have the continuing right to take an in-service withdrawal of

matching contributions once they reach age 55.

CTRE, LLC and CTHM, LLC formerly PCRE, LLC

All employees of CTRE, LLC and CTHM, LLC who are former employees of PCRE, LLC and

who had account balances from the PCRE, LLC 401(k) Plan transferred to this Plan shall have

the continuing right to the following:

In-service withdrawals at age 59 ½ on all contribution types in which they are 100% vested;

Nonperiodic or ad hoc distributions after termination of employment, not subject to a

minimum dollar amount;

Normal Retirement Age at the date the Participant attains age 59 ½ years of age.


All employees of Fox & Roach/Trident Limited Partnership who have account balances from the

Fox & Roach/Trident 401(k) and Profit Sharing Plan transferred to this Plan shall have the

continuing right to the following:

In-service withdrawals at age 59 ½ on all contribution types in which they are 100% vested,

with no minimum withdrawal amount;

Hardship withdrawal on Deferral Contributions Account and vested Matching Contributions

Account, with a $500 minimum amount;

100% vesting in all discretionary profit sharing accounts transferred from the Roach Wheeler

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401(k) Plan to the Fox & Roach/Trident 401(k) and Profit Sharing Plan, identified as “Roach

Wheeler” accounts;

Employer nonelective contributions, identified as “Employer Discretionary” accounts, will

continue to be subject to a six-year graded vesting schedule as follows:

Percent of

Years of Service Nonforfeitable

With the Employer Account Balance

Less than 2……………………………………………None

2..................................................................................... 20%

3……............................................................................. 40%

4……............................................................................. 60%

5……............................................................................. 80%

6 or more ..................................................................... 100%


All employees of Guarantee Real Estate who have account balances from the Guarantee Real

Estate 401(k) Profit Sharing Plan (“Guarantee Plan”) transferred to this Plan shall have the


In-service withdrawals of deferrals at age 59 ½ with no minimum withdrawal amount;

Hardship withdrawals that are not subject to a minimum withdrawal amount;

Normal Retirement Age at the later of the date the participant attains age 60 or the fifth (5th)

anniversary of the first day of the Plan Year in which the participant commenced

participation in the Guarantee Plan. The account balance derived from employer

contributions is 100% vested, upon and after attaining Normal Retirement Age, if employed

by the company on or after that date.


All employees of Intero Real Estate Services, Inc. who have account balances from the Intero

Real Estate Services 401(k) Retirement Plan (“Intero Plan”) transferred to this Plan shall have

the continuing right to the following:

100% vesting in employer contribution account balances transferred from the Intero

Franchise Services Plan to the Intero Plan;


subject to a $1,000 minimum withdrawal on balances accumulated on or after May 31, 2012;

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Hardship withdrawals on all contribution types in which they are 100% vested, subject to a

$1,000 minimum withdrawal on balances accumulated on or after May 31, 2012.

HomeServices Lending, LLC, Trinity Mortgage Affiliates and Academy Financial Services

All employees of HomeServices Lending, LLC, Trinity Mortgage Affiliates and Academy

Financial Services who have account balances from the Doherty Employment Group, Inc. 401(k)

Plan (“Doherty Plan”) transferred to this Plan shall have the continuing right to the following:

100% vesting in matching contribution account balances transferred from the Doherty Plan;

In-service withdrawals on all contribution types (deferral and matching contributions) in

which they are 100% vested at age 59 ½;

Hardship withdrawals, on deferral contributions only, are not subject to a minimum

withdrawal amount.

Pru-One, Inc.

All former employees of Pru-One, Inc. who have account balances from the Pru-One, Inc. 401(k)

Plan transferred to this Plan may take an in-service withdrawal on all contribution types in which

they are 100% vested, with no minimum withdrawal amount.


All employees of California Title Company who have account balances from the Orange Coast

Title Family of Companies Employee Savings Plan transferred to this Plan shall have the




Hardship withdrawals at age 59 ½ on all contribution types in which they are 100% vested,

with no minimum withdrawal amount.

First Weber, Inc.

All employees of First Weber, Inc. who have account balances from the First Weber Group

Retirement Plan transferred to this Plan shall have the continuing right to the following:



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Hardship withdrawals on all contribution types in which they are 100% vested, with no

minimum withdrawal amount;

100% vesting in all accounts (employee and employer) transferred to this Plan.

Midwest Realty Ventures dba Prudential Rubloff

All former employees of Midwest Realty Ventures dba Prudential Rubloff who have account

balances from the Midwest Realty Ventures dba Prudential Rubloff 401(k) Retirement Plan

transferred to this Plan shall have the continuing right to the following:

In-service withdrawals at age 59 ½ of deferrals and employer contributions which are 100%

vested, with no minimum withdrawal amount;

Hardship withdrawals of deferrals and employer contributions which are 100% vested, with

no minimum withdrawal amount;

Normal Retirement Age is age 59 ½;

Predecessor Service with Rubloff, Inc. is credited for eligibility and vesting for employees of

Rubloff, Inc. on September 8, 2009;

100% vesting in employer discretionary contributions and qualified nonelective contributions

made to the MRV Plan.

PCG Agencies, Inc.

All former employees of PCG Agencies, Inc. who have account balances from the PCG

Agencies, Inc. 401(k) Plan transferred to this Plan shall have the continuing right to the

following:



Hardship withdrawals of deferrals, with no minimum withdrawal amount.

Normal Retirement Age is age 59.

Florida Network LLC

All former employees of Florida Network LLC who have account balances from the Florida

Network, LLC 401(k) Plan transferred to this Plan shall have the continuing right to the

following:

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In-service withdrawals at age 59 ½ on all contribution types (including any Employer

Contributions) in which they are 100% vested, with no minimum withdrawal amount.

With respect to any such employees for whom eligible Automatic Deferral Contributions first

became effective on or after October 2, 2016, the right to withdraw any such Automatic

Deferral Contributions within ninety (90) days of the date any such employee is initially

defaulted into making such Automatic Deferral Contributions.

A continued six-year graded vesting schedule with respect to any transferred employer

matching contributions and/or employer non-matching contributions as set forth below. If,

however, an employee’s termination of employment is due to “disability” (as defined in the

Florida Network, LLC 401(k) Plan), such contributions shall, upon such termination, become

100% vested.

Percent of

Years of Service Nonforfeitable

With the Employer Account Balance

Less than 2……………………………………………None

2..................................................................................... 20%

3……............................................................................. 40%

4……............................................................................. 60%

5……............................................................................. 80%

6 or more ..................................................................... 100%

4833-0234-0417, v. 2

Retirement Savings Plan Summary Plan Description (SPD) · This booklet is a summary plan...

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