Common use of Contribution Limitations Clause in Contracts

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1) of the Code, as adjusted for cost-of-living increase. For Employer Non-elective Contributions made post-employment to former employees’ 403(b) account, the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3) of the Code and in any event, no Employer Non- elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer as follows: For all eligible employees, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s Non-Elective Contribution. In no case shall the Employer Non-elective Contribution exceed the contribution limit of the Internal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-elective Contributions made post-employment to former employees’ 403(b) account, the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3) of the Code and in any event, no Employer Non- Non-elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer as follows: For all eligible employeesmembers in the New York State Teachers Retirement System (“TRS”) regardless of membership date in the TRS, and for all members in the New York State Employees’ Retirement System regardless of their membership date, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any Code. To the extent that the Employer Non-Elective Contribution exceeds the Contribution Limit, such excess amount shall be paid as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s Non-Elective Contribution. ; In no case shall the Employer Non-elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-Non- elective Contributions made post-employment to former employees’ 403(b) account, the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3) of the Code and in any event, no Employer Non- Non-elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer as follows: For all eligible employeesmembers in the New York State Teachers Retirement System (“TRS”) regardless of membership date in the TRS, and for all members in the New York State Employees’ Retirement System regardless of their membership date, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any Code. To the extent that the Employer Non-Elective Contribution exceeds the Contribution Limit, such excess amount shall be paid as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s Non-Elective Contribution. ; In no case shall the Employer Non-elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-elective Contributions made post-employment to former employees’ 403(b) account, the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- Non-elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer as follows: : a. For all eligible employeesmembers in the New York State Teachers Retirement System (“TRS”), the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any Code. To the extent that the Employer Non-elective Contribution exceeds the Contribution Limit, such excess amount as compensation directly shall be reallocated to the Employee the following year as an Employer Non-elective Contribution (which Contribution shall not exceed the maximum amount permitted under the Code) and in January of the following year for up to four (4) years after the year of the Employee’s employment severance, until such time as the Employer Non-elective Contribution is fully deposited into the Employee’s 403(b) account. In no instance case shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until Employer’s Non-elective Contribution exceed the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s Non-Elective Contribution. In no case shall the Employer Non-elective Contribution exceed the contribution limit of the Internal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-elective Contributions made post-post- employment to former employees’ 403(b) account, the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- Non-elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer as follows: : A. For all eligible employeesmembers in the New York State Teachers’ Retirement System (“TRS”) with a membership date before June 17, 19711, the Employer shall first make an Employer Non-Non- elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s Non-Elective Contribution; and B. For all members in the New York State Teachers Retirement System (“TRS”) with a membership date in the TRS on or after June 17, 1971¹, and for all members in the New York State Employees’ Retirement System regardless of their membership date, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code. To the extent that the Employer Non-elective Contribution exceeds the Contribution Limit, such excess shall be reallocated to the Employee the following year as an Employer Non-elective Contribution (which Contribution shall not exceed the maximum amount permitted under the Code), and in January of each subsequent year for up to four (4) years after the year of the Employee’s employment severance, until such time as the Employer Non-elective Contribution is fully deposited into the Employee’s 403(b) account. In no case shall the Employer Non-elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-elective Contributions made post-employment to former employees’ 403(b) account, the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- Non-elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer as follows: : A. For all eligible employeesmembers in the New York State Teachers’ Retirement System (“TRS”) with a membership date before June 17, 19711, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s Non-Elective Contribution; and B. For all members in the New York State Teachers Retirement System (“TRS”) with a membership date in the TRS on or after June 17, 1971, and for all members in the New York State Employees’ Retirement System regardless of their membership date, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code. In no case shall To the extent that the Employer Non-elective Contribution exceed exceeds the contribution limit of Contribution Limit, such excess shall be reallocated to the Internal Revenue Code.Employee the following year as an

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-elective Contributions made post-employment to former employees’ 403(b) account, the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- Non-elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled behandled by the Employer as follows: : A. For all eligible employeesmembers in the New York State Teachers’ Retirement System (“TRS”) with a membership date before June 17, 1971, the Employer shall first make an Employer Non-Non- elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s Non-Elective Contribution; and B. For all members in the New York State Teachers Retirement System (“TRS”) with a membership date in the TRS on or after June 17, 1971, and for all members in the New York State Employees’ Retirement System regardless of their membership date, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code. To the extent that the Employer Non-elective Contribution exceeds the contribution Limit, such excess shall be reallocated to the Employee the following year as an employer Non-elective Contribution (which Contribution shall not exceed the maximum amount permitted under the Code), and in January of each subsequent year for up to four (4) years after he year of the Employee’s employment severance, until such time as the employer Non-elective contribution is fully deposited into the Employee’s 403(b) account. In no case shall the Employer Nonnon-elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.Revenue

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Codecode, as adjusted for cost-of-of- living increaseincreases. For Employer Non-elective Contributions made post-employment to former employees’ employees 403(b) account, the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- Non-elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced reference in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer as follows: : 1. For all eligible employeesmembers in the New York State Teachers’ Retirement System (“TRS”) with a membership date before June 17, 19711, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal lnternal Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until the Contribution Limit of the Internal lnternal Revenue Code are fully met through payment of the Employer’s Non-Elective elective Contribution; and 2. For all members in the New York State Teachers’ Retirement System (“TRS”) with a membership date in the TRS on or after June 17, 1971, and for all members in the New York State Employees’ Retirement System regardless of their membership date, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the lnternal Revenue Code. To the extent that the Employer Non-elective Contribution exceeds the Contribution Limit, such excess shall be reallocated to the Employee the following year as an Employer Non-elective Contribution (which Contribution shall not exceed the maximum amount permitted under the Code), and in January of each subsequent year for up to four (4) years after the year of the Employee’s employment severance, until such time as the Employer Non-elective Contribution is fully deposited into the Employee’s 403(b) account. In no case shall the Employer Non-elective Contribution exceed the contribution limit Contribution Limit of the Internal lnternal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-Non- elective Contributions made post-employment to former employees’ 403(b) account, the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- Non-elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer as follows: : A. For all eligible employeesmembers in the New York State Teachers’ Retirement System (“TRS”) with a membership date before June 17, 1971, the Employer shall first make an Employer Non-Non- elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s Non-Elective Contribution; and B. For all members in the New York State Teachers Retirement System (“TRS”) with a membership date in the TRS on or after June 17, 1971, and for all members in the New York State Employees’ Retirement System regardless of their membership date, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code. To the extent that the Employer Non-elective Contribution exceeds the contribution Limit, such excess shall be reallocated to the Employee the following year as an employer Non-elective Contribution (which Contribution shall not exceed the maximum amount permitted under the Code), and in January of each subsequent year for up to four (4) years after he year of the Employee’s employment severance, until such time as the employer Non-elective contribution is fully deposited into the Employee’s 403(b) account. In no case shall the Employer Nonnon-elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.the

Contribution Limitations. In any applicable year, the maximum Employer Contribution contribution shall not cause an employee’s Employee's 403(b) account to exceed the applicable contribution limit under Section 415(c) 415 (1c)(l) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-elective electiYe Contributions made post-employment to former employees’ Employee's 403(b) account, the Contribution Limit shall be based on the employee’s Employee's compensation, as determined under Section 403(b) (3) of the Code and in any event, no Employer Non- Non-elective Contribution shall be made on behalf of such former employee Employee after the fifth taxable year following the taxable year in which that employee Employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limitscontribution limits, the employer shall handle the excess amount shall be handled by the Employer as follows: : A. s For all eligible employeesmembers in the New York State Teachers' Retirement Systems ("TRS") with a membership date before ,June 17, 1971, and for all memberss in the New York State Employees' Retirement System regardless of theirs membership date, the Employer shall first make an Employer Non-elective electives Contribution up to the Contribution Limit of the oftbe Internal Revenue Code and ands then pay any excess amount as compensation directly to the Employee. In Ins no instance shall the Employee have any rights to, including the ability to tos receive, any anv excess amount as compensation unless and until the Contribution thes Contributi�n Limit of the Internal Revenue Code are fully met through throughs payment of the Employer’s 's Non-Elective elective Contribution; ands B. s For all members in the New York State Teachers' Retirement Systems ("TRS") with a membership date in thC' TRS on or after ,June 17, 1971, ands for all members in the New York State Employees' Retirement Systems regardless of their membership date, the Employer shall first make ans Employer Non-elective Contribution up to the Contribution Limit of thes Internal Revenue Code. To the extent that the Employer Non-electives Contribution exceeds the Contribution Limit, such excess shall bes reallocated to the Employee the following year as an Employer Non-electives Contribution (which contribution shall not exceed the maximum amounts permitted under the Code), and in ,January of the follmving year for up tos four (4) years after the year of the Employee's employment severance, untils such time as the Employer Non-elective Contribution is fully deposited intos the Employee's 403 (b) amount. In no case shall the Employer Non-elective electives Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.Code.s

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-elective Contributions made post-employment to former employees’ 403(b) account, the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- Non­ elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Elective Contribution referenced in any of the proceeding preceding paragraphs exceed exceeds the applicable Contribution Limits, the excess amount shall be handled by the Employer as follows: For for all eligible employeesmembers in the New York State Employees’ Retirement System, the Employer shall first make an Employer Non-Non­ elective Contribution up to the Contribution Limit limit of the Internal Revenue Code and then pay any Code. To the extent that the Employer Non-elective Contribution exceeds the Contribution Limit, such excess amount as compensation directly shall be reallocated to the Employee. In no instance Employee the following year as an Employer Non­ elective Contribution (which Contribution shall not exceed the Employee have any rights tomaximum amount permitted under the Code), including and in January of each subsequent year for up to four (4) years after the ability to receive, any excess amount as compensation unless and until the Contribution Limit year of the Internal Revenue Code are fully met through payment of Employee’s employment severance or until such time as the Employer’s Employer Non-Elective Contributionelective Contribution is fully deposited into the Employee’s 403(b) account, whichever is sooner. In no case shall the Employer Non-elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-elective Contributions made post-employment to former employees’ 403(b) account, the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- Non-elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer as follows: : A. For all eligible employeesmembers in the New York State Teachers’ Retirement System (“TRS”) with a membership date before June 17, 19711, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s Non-Elective Contribution; and B. For all members in the New York State Teachers Retirement System (“TRS”) with a membership date in the TRS on or after June 17, 1971, and for all members in the New York State Employees’ Retirement System regardless of their membership date, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code. To the extent that the Employer Non-elective Contribution exceeds the Contribution Limit, such excess shall be reallocated to the Employee no later than January 31 of the following year as an Employer Non-elective Contribution (which Contribution shall not exceed the maximum amount permitted under the Code), and in January of each subsequent year for up to four (4) years after the year of the Employee’s employment severance, until such time as the Employer Non- elective Contribution is fully deposited into the Employee’s 403(b) account. In no case shall the Employer Non-elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-elective Non- Elective Contributions made post-employment to former employees’ 403(b) account, ; the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- elective Non-Elective Contribution shall be made on behalf of such former employee after the fifth (5th) taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer as follows: : i. For all eligible employeesmembers in the New York State Teachers’ Retirement System (“TRS”) with a membership date before June 17, 19711*, the Employer shall first make an Employer Non-elective Elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s Non-Elective Contribution; and ii. For all members in the New York State Teachers Retirement System (“TRS”) with a membership date in the TRS on or after June 17, 1971, and for all members in the New York State Employees Retirement System regardless of their membership date, the Employer shall first make an Employer Non-Elective Contribution up to the Contribution Limit of the Internal Revenue Code. To the extent that the Employer Non-Elective Contribution exceeds the Contribution Limit, such excess2* shall be contributed to the Employee’s 403(b) by January 15th of the following year as an Employer Non-Elective Contribution (which Contribution shall not exceed the maximum amount permitted under the Code), and by January 15th of each subsequent year for up to five (5) years after the year of the Employee ‘s employment severance, or until such time as the Employer Non-Elective Contribution is fully deposited into the Employee’s 403(b) account. In no case shall the Employer Non-elective Elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.Internal

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 's 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-Non- elective Contributions made post-employment to former employees’ ' 403(b) account, the Contribution Limit shall be based on the employee’s 's compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- Non-elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer as follows: : a. For all eligible employeesmembers in the New York State Employees' Retirement System regardless of their membership date, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any Code. To the extent that the Employer Non-elective Contribution exceeds the Contribution Limit, such as excess amount as compensation directly shall be reallocated to the Employee. In no instance Employee the following year as an Employer Non-elective Contribution (which Contribution shall not exceed the Employee have any rights tomaximum amount permitted under the Code), including and in January of each subsequent year for up to four (4) years after the ability to receive, any excess amount as compensation unless and until the Contribution Limit year of the Internal Revenue Code are fully met through payment of Employee's employment severance, until such time as the Employer’s Employer Non-Elective Contributionelective Contribution is fully deposited into the Employee's 403(b) account. In no case shall the Employer Non-elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution contribution shall not cause an employeeEmployee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) 415 (1c)(1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-elective Contributions made post-employment to former employees’ Employee’s 403(b) account, the Contribution Limit shall be based on the employeeEmployee’s compensation, as determined under Section 403(b) (3) of the Code and in any event, no Employer Non- Non-elective Contribution shall be made on behalf of such former employee Employee after the fifth taxable year following the taxable year in which that employee Employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limitscontribution limits, the excess amount shall be handled by the Employer as follows: : 1. For all eligible employeesmembers in the New York State Teachers’ Retirement System (“TRS”) with a membership date before June 17, 1971, and for all members in the New York State Employees’ Retirement System regardless of their membership date, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s Non-Elective elective Contribution; and 2. For all members in the New York State Teachers’ Retirement System (“TRS”) with a membership date in the TRS on or after June 17, 1971, and for all members in the New York State Employees’ Retirement System regardless of their membership date, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code. To the extent that the Employer Non-elective Contribution exceeds the Contribution Limit, such excess shall be reallocated to the Employee the following year as an Employer Non- elective Contribution (which contribution shall not exceed the maximum amount permitted under the Code), and in January of the following year for up to four (4) years after the year of the Employee’s employment severance, until such time as the Employer Non-elective Contribution is fully deposited into the Employee’s 403 (b) amount. In no case shall the Employer Non-elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1) 1 of the Code, as adjusted for cost-of-living increaseincreases. For Employer employer Non-elective Elective Contributions made post-employment to former employees’ 403(b) account, the Contribution contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- elective Non-Elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Lake Placid Central School Non- Elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer Lake Placid Central School as follows: - For all eligible employeesmembers in the New York State Teacher’s Retirement System (“TRS”) with a membership date before June 17, 1971, the Employer shall first make an Employer Non-elective Elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s Non-Elective Contribution; and - For all members in the New York State Teachers Retirement System (“TRS”) with a membership date in the TRS on or after June 17, 1971, and for all members in the New York State Employee’s Retirement System regardless of their membership date, the Lake Placid Central School shall first make an Employer Non-Elective Contribution up to the Contribution Limit of the Internal Revenue Code. To the extent that the Employer Non-Elective Contribution exceeds the Contribution Limit, such excess shall be reallocated to the Employee the following year as an Employer Non-Elective Contribution (which Contribution shall not exceed the maximum amount permitted under the Code), and in January of each subsequent year for up to four (4) years after the year of the Employee’s employment severance, until such time as the Employer Non-Elective Contribution is fully deposited into the Employee’s 403(b) account. In no case shall the Employer Non-elective Elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-elective Contributions made post-employment to former employees’ 403(b) account, the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- Non-elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer as follows: : A. For all eligible employeesmembers in the New York State Teachers’ Retirement System (“TRS”) with a membership date before June 17, 1971, the Employer shall first make an Employer Non-Non- elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s Non-Elective Contribution; and B. For all members in the New York State Teachers Retirement System (“TRS”) with a membership date in the TRS on or after June 17, 1971, and for all members in the New York State Employees’ Retirement System regardless of their membership date, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code. To the extent that the Employer Non-elective Contribution exceeds the contribution Limit, such excess shall be reallocated to the Employee the following year as an employer Non-elective Contribution (which Contribution shall not exceed the maximum amount permitted under the Code), and in January of each subsequent year for up to four (4) years after he year of the Employee’s employment severance, until such time as the employer Non-elective contribution is fully deposited into the Employee’s 403(b) account. In no case shall the Employer Nonnon-elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 's 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-elective Contributions made post-post­ employment to former employees’ 403(b) account, the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- Non-elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer as follows: : A. For all eligible employeesmembers in the New York State Teachers’ Retirement System ("TRS") with a membership date before June 17, 19711, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Interna! Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s Non-Elective Contribution; and B. For all members in the New York State Teachers Retirement System (“TRS") with a membership date in the TRS on or after June 17,1971, and for all members in the New York State Employees’ Retirement System regardless of their membership date, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code. To the extent that the Employer Non-elective Contribution exceeds the Contribution Limit, such excess shall be reallocated to the Employee the following year as an Employer Non-elective Contribution. In no case shall the Employer Non-elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution contribution shall not cause an employee’s Employee's 403(b) account to exceed the applicable contribution limit under Section 415(c) 415 (1c)(l) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-Non- elective Contributions made post-employment to former employees’ Employee's 403(b) account, the Contribution Limit shall be based on the employee’s Employee's compensation, as determined under Section 403(b) (3) of the Code and in any event, no Employer Non- Non-elective Contribution shall be made on behalf of such former employee Employee after the fifth taxable year following the taxable year in which that employee Employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limitscontribution limits, the employer shall handle the excess amount shall be handled by the Employer as follows: : A. For all eligible employeesmembers in the New York State Teachers' Retirement System ("TRS") with a membership date before June 17, 1971, and for all members in the New York State Employees' Retirement System regardless of their membership date, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Revenue. Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s 's Non-Elective elective Contribution; and B. For all members in the New York State Teachers' Retirement System ("TRS") with a membership date in the TRS on or after June 17, 1971, and for all members in the New York State Employees' Retirement System regardless of their membership date, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code. To the extent that the Employer Non-elective Contribution exceeds the Contribution Limit, such excess shall be reallocated to the Employee the following year as an Employer Non- elective Contribution (which contribution shall not exceed the maximum amount permitted under the Code), and in January of the following year for up to four (4) years after the year of the Employee's employment severance, until such time as the Employer Non-elective Contribution is fully deposited into the Employee's 403 (b) amount. In no case shall the Employer Non-elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 's 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-elective Contributions made post-employment to a former employees’ employee's 403(b) account, the Contribution Limit shall be based on the employee’s compensation, 's compensation as determined under Section 403(b) (3403(b)(3) of the Code and and, in any event, no Employer Non- Non­ elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding preceding paragraphs exceed exceeds the applicable Contribution Limits, the excess amount shall be handled by the Employer as follows: : A. For all eligible employeesmembers in the New York State Teachers' Retirement System ("TRS") with a membership date before June 17, 1971, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including include the ability to receive, any excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are is fully met through payment of the Employer’s 's Non-Elective elective Contribution. In no case ; and B. For all members in the New York State Teachers' Retirement System ("TRS") with a membership date on or after June 17, 1971, and for all members in the New York State Employees’ Retirement System regardless of their membership date, the Employer shall the first make an Employer Non-elective Contribution exceed up to the contribution limit Contribution Limit of the Internal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-cost of living increaseincreases. For Employer Non-elective Contributions contributions made post-employment to former employees’ 403(b) accountaccounts, the Contribution Limit shall be based on the employee’s employees’ compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- Non-elective Contribution shall be made on behalf of such former employee employees after the fifth taxable year following the taxable year in which that employee such employees terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess excess, amount shall hall be handled by the Employer as follows: : a. For all eligible employeesmembers in the New York State Teachers’ Retirement System (“TRS”) with a membership date before June 17, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any 1971 excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s Non-Elective Contribution; and b. For all members in the New York State Teachers Retirement System (“TRS”) with a membership date in the TRS on or after June 17, 1971, and for all members in the New York State Employees’ Retirement System regardless of their membership date, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code. To the extent that the Employer Non-elective Contribution exceeds the Contribution Limit in the calendar year of retirement, such excess shall be reallocated to the Employee by January 15th of the following year as an Employer Non-elective Contribution and by January 15th of each subsequent year for up to five (5) years after the year of the Employee’s severance, or until such time as the Employer Non-elective Contribution is fully deposited into the Employee’s 403(b) account. In no case shall the Employer Non-elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-elective Contributions made post-employment to former employees’ 403(b) account, the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- Non-elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer as follows: : A. For all eligible employeesmembers in the New York State Teachers’ Retirement System (“TRS”) with a membership date before June 17, 1971, the Employer shall first make an Employer Non- elective Contribution up to the Contribution Limit of the Internal Revenue Code and then are fully met through payment of the Employer’s Non-Elective Contribution; and B. For all members in the New York State Teachers Retirement System (“TRS”) with a membership date in the TRS on or after June 17, 1971, and for all members in the New York State Employees’ Retirement System regardless of their membership date, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any Code. To the extent that the Employer Non-elective Contribution exceeds the contribution Limit, such excess amount as compensation directly shall be reallocated to the EmployeeEmployee the following year account. In no instance case shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until Employer non-elective Contribution exceed the Contribution Limit of the Internal Revenue Code are fully met through payment of 3. 403(b) Accounts Employer contributions shall be deposited into the 403(b) account selected by employee to receive Employer contributions, provided such account will accept Employer Non- elective Contributions. If the employee does not designate a 403(b) account to receive Employer’s contributions, or if the account designated will not accept Employer’s Non-Elective Contribution. In no case elective Contributions for any reason, then Employer shall deposit contributions, in the Employer Non-elective Contribution exceed the contribution limit name of the Internal Revenue Codeemployee, into the endorsed 403(b) program.

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-elective Elective Contributions made post-employment to former employees’ 403(b) account, the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3) of the Code and in any event, no Employer Non- elective Non-Elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that the employee terminated employment. In the event that the calculation of the Employer Non-elective Elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limitscontribution limits, the excess amount shall be handled by the Employer employer as follows: For all eligible employeesmembers, the Employer shall first make an Employer Non-elective Elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s Non-Elective Contribution. In no case shall the Employer Non-elective Elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-Non- elective Contributions made post-employment to former employees’ 403(b) account, the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- Non-elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer as follows: : A. For all eligible employeesmembers in the New York State Teachers’ Retirement System (“TRS”) with a membership date before June 17, 1971, the Employer shall first make an Employer Non-Non- elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s Non-Elective Contribution; and B. For all members in the New York State Teachers Retirement System (“TRS”) with a membership date in the TRS on or after June 17, 1971, and for all members in the New York State and Local Employees Retirement System regardless of their membership date, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code. To the extent that the Employer Non-elective Contribution exceeds the Contribution Limit, such excess shall be reallocated to the Employee the following year as an employer Non-elective Contribution (which Contribution shall not exceed the maximum amount permitted under the Code), and in January of each subsequent year for up to four (4) years after the year of the Employee’s employment severance, until such time as the employer Non-elective contribution is fully deposited into the Employee’s 403(b) account. In no case shall the Employer Non-elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.

Contribution Limitations. In any applicable calendar year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-elective Elective Contributions made post-employment to former employees’ 403(b) account, the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- elective Non-Elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled distributed by the Employer as follows: : A. For all eligible employeesmembers in the New York State Teachers’ Retirement System (“TRS”) with a membership date before June 17, 19711, the Employer shall first make an Employer Non-elective Non- Elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s Non-Elective Contribution; and B. For all members in the New York State Teachers’ Retirement System (“TRS”) with a membership date in the TRS on or after June 17, 1971, and for all members in the New York Employees’ Retirement System regardless of their membership date, the Employer shall first make an Employer Non-Elective Contribution up to the Contribution Limit of the Internal Revenue Code. To the extent that the Employer Non-Elective Contribution exceeds the Contribution Limit, such excess shall be reallocated to the Employee the following year as in 1 Explanation for TRS Categories: Under Education Law § 501 (11)(a), the calculation of a pre- June 17 TRS Tier 1 member’s last five years final average salary (upon which a member’s life- time pension is, in part, calculated) includes any non-ordinary income (such as termination pay) which is received as compensation prior to December 31st of the year of retirement. Thus, such a member would benefit from receiving, as compensation, in their final year of employment, that portion of the Employer Non-Elective Contribution, which is in excess of the maximum Contribution Limits of IRC §415. The final average salary of all other members of the TRS (i.e., all TRS members with a membership date on or after June 17, 1971) may not include any form of Termination Pay, therefore, the Employer’s post- retirement payment into the employee’s 403(b) account of that portion of the Employer Non-Elective Contribution, which is in excess of the maximum Contribution Limits of IRC §415, is more advantageous for those members. Employer Non-Elective Contribution (which Contribution shall not exceed the maximum amount permitted under the code), and in January of each subsequent year for up to four (4) years after the year of the Employee’s employment severance, until such time as the Employer Non-Elective Contribution is fully deposited into the Employee’s 403(b) account. In no case shall the Employer Non-elective Elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-Non­ elective Contributions made post-employment to former employees’ 403(b) account, the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- Non-elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer as follows: : A. For all eligible employeesmembers in the New York State Teachers’ Retirement System (“TRS”) with a membership date before June 17, 1 9 7 1 the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s Non-Elective Contribution; and B. For all members in the New York State Teachers Retirement System (“TRS”) with a membership date in the TRS on or after June 17, 1971, and for all members in the New York State Employees’ Retirement System regardless of their membership date, the Employer shall first make an Employer Non­ elective Contribution up to the Contribution Limit of the Internal Revenue Code. To the extent that the Employer Non-elective Contribution exceeds the Contribution Limit, such excess shall be reallocated to the Employee the following year as an Employer Non-elective Contribution (which Contribution shall not exceed the maximum amount permitted under the Code), and in January of each subsequent year for up to four (4) years after the year of the Employee’s employment severance, until such time as the Employer Non­ elective Contribution is fully deposited into the Employee’s 403(b) account. In no case shall the Employer Non-elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the die applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-Non­ elective Contributions made post-employment to former employees’ 403(b) accountaccounts), the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- Non-elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer as follows: : 1. For all eligible employeesmembers in the New York State Teachers’ Retirement System (“TRS”) with a membership date before June 17, 19711, the Employer shall first make an Employer Non-Non­ elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until the Contribution Limit Lhnit of the Internal Revenue Code are is fully met through payment of the Employer’s Non-Elective elective Contribution; and 2. For all members in the New York State Teachers Retirement System (“TRS”) with a membership date in the TRS on or after June 17, 1971, and for all members in the New York State Employees’ Retirement System regardless of their membership date, the 1 Explanation for TRS Categories: Under Education Law § 501(1 l)(a), the calculation of a pre-June 17, 1971 TRS Tier I member’s last five years final average salary (upon which a member’s life-time pension is, in part, calculated) includes any non-ordinary income (such as termination pay) which is received as compensation prior to December 31st of the year of retirement. Thus, such a member would benefit from receiving, as compensation, in their final year of employment that portion of the Employer Non-elective contribution, which is in excess of the maximum Contribution Limits of IRC §415. The final average salary of all other members of the TRS (i.e. all TRS members with a membership date on or after June 17, 1971) may not include any form of Termination Pay; therefore, the Employer’s post-retirement payment into the employee’s 403(b) account'of that portion of the Employer Non-elective Contribution, which is in excess of the maximum Contribution Limits of IRC §415, is more advantageous for those members. Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code. To the extent that the Employer Non-elective Contribution exceeds the Contribution Limit, such excess shall be reallocated to the Employee the following year as an Employer Non-elective Contribution (which Contribution shall not exceed the maximum amount permitted under the Code), and in January of each subsequent year for up to four (4) years after the year of the Employee’s employment severance, until such time as the Employer Non-elective Contribution is fully deposited into the Employee’s 403(b) account. In no case shall the Employer Non-elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-Non- elective Contributions made post-employment to former employees’ 403(b) account, the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer as follows: : a. For all eligible employeesmembers in the New York State Teachers Retirement System (“TRS”), the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any Code. To the extent that the Employer Non-elective Contribution exceeds the Contribution Limit, such excess amount as compensation directly shall be reallocated to the Employee the following year as an Employer Non-elective Contribution (which Contribution shall not exceed the maximum amount permitted under the Code) and in January of the following year for up to four (4) years after the year of the Employee’s employment severance, until such time as the Employer Non-elective Contribution is fully deposited into the Employee’s 403(b) account. In no instance case shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until Employer’s Non-elective Contribution exceed the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s Non-Elective Contribution. In no case shall the Employer Non-elective Contribution exceed the contribution limit of the Internal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-elective Contributions made post-post­ employment to former employees’ employee’s 403(b) account, the Contribution Limit shall be based on the employee’s compensation, compensation as determined under Section 403(b) (3403(b)(3) of the Code and and, in any event, no Employer Non- employer Non-elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer Employee as follows: For all eligible employeesmembers, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are is fully met through payment of the Employer’s Non-Elective Non­ elective Contribution. In no case shall the Employer Non-elective eiective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-elective Contributions made post-post- employment to former employees’ 403(b) account, the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- Non-elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-Non- elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer as follows: follows:‌ (A) For all eligible employeesmembers in the New York State Teachers Retirement System (“TRS”) and for all members in the New York State Employees’ Retirement System regardless of their membership date, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any Code. To the extent that the Employer Non-elective Contribution exceeds the Contribution Limit, such excess amount as compensation directly shall be reallocated to the Employee. In no instance Employee the following year as an Employer Non-elective Contribution (which Contribution shall not exceed the Employee have any rights tomaximum amount permitted under the Code), including and in January of each subsequent year for up to four (4) years after the ability to receive, any excess amount as compensation unless and until the Contribution Limit year of the Internal Revenue Code are fully met through payment of Employee’s employment severance, until such time as the Employer’s Employer Non-Elective Contributionelective Contribution is fully deposited into the Employee’s 403(b) account. In no case shall the Employer Non-elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 's 403(b) account to exceed the applicable contribution limit under Section 415(c) (1) 1 of the Code, as adjusted for cost-of-living increaseincreases. For Employer employer Non-elective Elective Contributions made post-employment to former employees’ ' 403(b) account, the Contribution contribution Limit shall be based on the employee’s 's compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- elective Non-Elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Lake Placid Central School Non- Elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer Lake Placid Central School as follows: ▪ For all eligible employeesmembers in the New York State Teacher's Retirement System ("TRS") with a membership date before June 17, 1971, the Employer shall first make an Employer Non-elective Elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s 's Non-Elective Contribution; and ▪ For all members in the New York State Teachers Retirement System ("TRS") with a membership date in the TRS on or after June 17, 1971, and for all members in the New York State Employee's Retirement System regardless of their membership date, the Lake Placid Central School shall first make an Employer Non-Elective Contribution up to the Contribution Limit of the Internal Revenue Code. To the extent that the Employer Non-Elective Contribution exceeds the Contribution Limit, such excess shall be reallocated to the Employee the following year as an Employer Non-Elective Contribution (which Contribution shall not exceed the maximum amount permitted under the Code), and in January of each subsequent year for up to four (4) years after the year of the Employee's employment severance, until such time as the Employer Non-Elective Contribution is fully deposited into the Employee's 403(b) account. In no case shall the Employer Non-elective Non- Elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.Internal

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-Non- elective Contributions made post-employment to former employees’ 403(b) accountaccount(s), the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- Non-elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer as follows: : 1. For all eligible employeesmembers in the New York State Teachers’ Retirement System (“TRS”) with a membership date before June 17, 19711, the Employer shall first make an Employer Non-Non- elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are is fully met through payment of the Employer’s Non-Elective elective Contribution; and 2. For all members in the New York State Teachers Retirement System (“TRS”) with a membership date in the TRS on or after June 17, 1971, and for all members in the New York State Employees’ Retirement System regardless of their membership date, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code. To the extent that the Employer Non-elective Contribution exceeds the Contribution Limit, such excess shall be reallocated to the Employee the following year as an Employer Non-elective Contribution (which Contribution shall not exceed the maximum amount permitted under the Code), and in January of each subsequent year for up to four (4) years after the year of the Employee’s employment severance, until such time as the Employer Non-elective Contribution is fully deposited into the Employee’s 403(b) account. In no case shall the Employer Non-elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-elective Contributions made post-post­ employment to former employees’ 403(b) account, the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- Non-elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer as follows: : A. For all eligible employeesmembers in the New York State Teachers’ Retirement System (“TRS”) with a membership date before June 17, 19711, the Employer shall first make an Employer Non-Non­ elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s Non-Elective Contribution; and B. For all members in the New York State Teachers Retirement System (“TRS”) with a membership date in the TRS on or after June 17, 19711, and for all members in the New York State Employees’ Retirement System regardless of their membership date, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code. To the extent that the Employer Non-elective Contribution exceeds the Contribution Limit, such excess shall be reallocated to the Employee the following year as an Employer Non-elective Contribution (which Contribution shall not exceed the maximum amount permitted under the Code), and in January of each subsequent year for up to four (4) years after the year of the Employee’s employment severance, until such time as the Employer Non-elective Contribution is fully deposited into the Employee’s 403(b) account. In no case shall the Employer Non-elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-cost of living increaseincreases. For Employer Non-elective Contributions contributions made post-employment to former employees’ 403(b) accountaccounts, the Contribution Limit shall be based on the employee’s employees’ compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- Non-elective Contribution shall be made on behalf of such former employee employees after the fifth taxable year following the taxable year in which that employee such employees terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess excess, amount shall hall be handled by the Employer as follows: : a. For all eligible employeesmembers in the New York State Teachers’ Retirement System (“TRS”) with a membership date before June 17, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any 19711 excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s Non-Elective Contribution; and b. For all members in the New York State Teachers Retirement System (“TRS”) with a membership date in the TRS on or after June 17, 1971, and for all members in the New York State Employees’ Retirement System regardless of their membership date, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code. To the extent that the Employer Non-elective Contribution exceeds the Contribution Limit in the calendar year of retirement, such excess shall be reallocated to the Employee by January 15th of the following year as an Employer Non-elective Contribution and by January 15th of each subsequent year for up to five (5) years after the year of the Employee’s severance, or until such time as the Employer Non-elective Contribution is fully deposited into the Employee’s 403(b) account. In no case shall the Employer Non-elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.

Contribution Limitations. In any applicable year, the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c) (1415(c)(1) of the Code, as adjusted for cost-of-living increaseincreases. For Employer Non-Non- elective Contributions made post-employment to former employees’ 403(b) account, the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b) (3403(b)(3) of the Code and in any event, no Employer Non- Non-elective Contribution shall be made on behalf of such former employee after the fifth taxable year following the taxable year in which that employee terminated employment. In the event that the calculation of the Employer Non-elective Contribution referenced in any of the proceeding preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer as follows: : A. For all eligible employeesmembers in the New York State Teachers’ Retirement System (“TRS”) with a membership date before June 17, 1971, the Employer shall first make an Employer Non-Non- elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability to receive, any excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s Non-Elective Contribution; and B. For all members in the New York State Teachers Retirement System (“TRS”) with a membership date in the TRS on or after June 17, 1971, and for all members in the New York State Employees’ Retirement System regardless of their membership date, the Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code. To the extent that the Employer Non-elective Contribution exceeds the contribution Limit, such excess shall be reallocated to the Employee the following year as an employer Non-elective Contribution (which Contribution shall not exceed the maximum amount permitted under the Code), and in January of each subsequent year for up to four (4) years after he year of the Employee’s employment severance, until such time as the employer Non-elective contribution is fully deposited into the Employee’s 403(b) account. In no case shall the Employer Nonnon-elective Contribution exceed the contribution limit Contribution Limit of the Internal Revenue Code.