Questions & Answers: About METRO

Yes. For newly hired, full-time union and non-union employees, METRO offers both of the following:

• 457(b) deferred compensation plan
• 401(a) defined contribution plan

Both are administered by Empower Retirement.

METRO automatically contributes 4% of your annual salary to your 401(a).

Additionally, if you choose to contribute money to your 457(b) deferred compensation plan, METRO will match your contribution up to 4% and put it in your 401(a). That money will not appear on your paycheck; it's deposited directly in your 401(a) retirement plan.

To receive retirement funds from your 401(a), newly hired, full-time union and non-union employees must meet both of the following eligibility requirements:

• Work at METRO for a minimum of two years
• Work at least 1,000 hours per year

The vesting schedule is as follows:

Non-union employees:

You qualify for normal retirement at age 65, with five years of vested service.

You qualify for early retirement if you meet either of these criteria:

• Age 55, with 15 years vested service
• Age 60, with five years vested service

Union employees:

You qualify for normal retirement if you meet either of these criteria:

• Age 60, with five years vested service
• Any age with 28 years vested service

You qualify for early retirement at age 55 with 25 years vested service.

All retirees (both union and non-union) receive $25,000 in life insurance at no cost.