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AN-700-CS (03/21) 3 Alliance 2021 <br />Contract Specifications <br />CONTRACT NUMBER: 897863+074 <br />CONTRACT OWNER: City of Everett <br />EFFECTIVE DATE: January 12, 2024 <br />EMPLOYER: City of Everett <br />PLAN: City of Everett Funded HRA <br />INTEREST RATE <br />Interest will be credited daily to the Contract Owner Account so that when compounded and accrued yields <br />at least the effective annual interest rate. The effective annual interest rate will equal the greate r of the two <br />rates shown below. <br />a.GUARANTEED MINIMUM INTEREST RATE (GMIR): 1.70% for all years <br />b.DECLARED INTEREST RATE: declared and made available reasonably in advance of each <br /> six-month period (January to June and July to December) <br />GENERAL ACCOUNT <br />Contributions and interest become part of the general ass ets of the Company. <br />ADDITIONAL PARTICIPANT INITIATED WITHDRAWAL LIMITATIONS (see Section 4.01) <br />Participant initiated withdrawals to a Competing Fund will not be permitted. In addition, withdrawals will not <br />be permitted for 90 days after a transfer from any other investment option in the Plan to a Competing Fund. <br />Finally, if a withdrawal from this Contract is allowed for a Participant, transfers there after from any other <br />investment option in the Plan to a Competing Fund will not be permitted for 90 days. These restrictions <br />apply at the Participant level and will continue to apply to transfers made up to and including the Contract <br />Termination Date. <br />Competing Fund - An investment option which has similar investment objectives, duration or market <br />volatility as this Contract including but not limited to fixed accounts of annuities, money market funds, short - <br />term bond funds, short-term lifecycle funds or any other fund with similar investment objectives, duration or <br />market volatility. Such investment options will also include individual brokerage accounts and all investment <br />options except those where we have agreements in place with the benefit plan platform provider to manage <br />compliance with competing fund restrictions outlined in the Contract . <br />CONTRIBUTION LIMITS: We may prohibit new Contributions to this Contract, provided you are given at <br />least 180 days advance notice during which time you may reject this change by terminating as outlined in <br />Section 6.01.