Wealthspire at Work

Plan Overview

Plan Name: Wiggin & Dana 401(k) Retirement and Savings Plan for Associates, Partners & Staff
Original Effective Date: October 1, 1999 (Associates) / December 1, 1969 (Partners & Staff)
Restatement Effective Date: January 1, 2022

This summary highlights key features of the plan. For full details, refer to the plan document or contact the Plan Administrator.

Employer Information

Employer: Wiggin & Dana LLP
Address: 265 Church Street, P.O. Box 1832, New Haven, CT 06508-1832
Phone: (203) 498-4400
Plan Provider: The Vanguard Group, P.O. Box 2600, Valley Forge, PA 19482, (800) 662-0106
Plan Administrator: Wiggin & Dana LLP Employee Benefits Committee
Trustee: Vanguard Fiduciary Trust Company

Eligibility

• Minimum Age: 21 years

• Service Requirement: 1 year of service (1,000 hours in an eligibility computation period)

• Entry Date: First day of each calendar month after meeting eligibility requirements

• Excluded Employees: Collectively bargained employees, leased employees, part-time/temporary/seasonal employees (<1,000 hours/year), and certain classifications such as “of counsel,” “senior counsel,” or “counsel”

Contributions

• Employee Contributions: Up to 60% of Plan Compensation per payroll period (subject to IRS limits)

  • Roth deferrals allowed

  • Catch-up contributions allowed for eligible participants

• Employer Contributions (Partners & Staff): Discretionary based on classification:

  • Eligible employees – 3%

  • Highly Compensated Employees – additional 1.75%

• Employer Contributions (Associates): Not authorized

Vesting

• All contributions are 100% vested immediately

• No additional vesting upon death, disability, or early retirement

Distributions

• In-Service Distributions: Available at age 59½ or for hardship (safe harbor rules apply)

• Termination of Employment:

  • Vested account > $5,000: Lump sum or installments

  • Vested account ≤ $5,000: Lump sum

• Hardship Withdrawals: Allowed for specific financial needs (medical expenses, education, etc.)

Loans

• Eligibility: Loans permitted under a separate loan policy

• Loan Limit: Up to 50% of vested account balance

• Minimum Loan Amount: $1,000

• Outstanding Loans: Two loans are permitted at a time

• Repayment Period: Up to 10 years for primary residence loans

Investment Direction

• Participants may direct the investments in their accounts

Note: This summary provides an overview of the key features of the Wiggin & Dana 401(k) Retirement and Savings Plan. For detailed information or specific questions, employees should consult the full plan document or contact the Plan Administrator.