Company: BK-PK
Filing Date: 2025-06-26
Form Type: 11-K
Source: 0001390777-25-000094
Chunk: 8

Company: Bank of New York Mellon Corp
Filing Date: 2025-06-26
Form: 11-K
Chunk 8
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 a paid leave of absence, to borrow from their account. The loan will be secured by a portion of the participant’s account balance and must be repaid to that account with interest. The interest payments will also be allocated to the participant’s account and will appear as earnings on that account. Loan guidelines, including interest rates, are set by the Plan in accordance with tax laws and regulations issued by the IRS and the Department of Labor.

For general purpose loans issued in plan years 2024 and 2023, the interest rate was fixed at one percentage point above the prime rate on the first business day of the month in which the loan was issued. For loans used for the purchase of a primary residence issued in 2024 and 2023, the interest rate was fixed at one percentage point above the prime rate on the first business day of the month in which the promissory note was issued to the participant.

Generally, new loans, when added to the amount of any existing loans, cannot exceed the lesser of (a) $50,000 minus the participant’s highest outstanding loan balance in the last 12 months, (b) one-half of the participant’s vested account, or (c) the participant’s account balance, excluding any investments in an SDA. General purpose loans are available for terms of 12 to 48 months. Loans for the purchase of a primary residence, however, may be for a term from 49 to 120 months. Loans are repaid in periodic installments through payroll deductions or recurring direct debit payments. Loan repayments, of both principal and interest, are invested by the Trustee among the available investment funds in the same proportions as the participant’s salary reduction contributions are invested.

#### Payment of Benefits
– A participant (or their beneficiary) may elect to receive distributions in one lump sum or in a series of quarterly installments over a period not exceeding the lesser of (1) their life expectancy or the designated beneficiary’s joint life expectancy, or (2) ten years. Participants whose employment has terminated, except those who are on approved long-term disability, will automatically be paid in a lump sum if their account balance is $1,000 or less. If a portion of a participant’s balance is invested in the Company’s common stock or an SDA, the participant may elect to receive the distribution in-kind or in cash.

#### Voting Rights
– Each participant is entitled to exercise voting rights attributable to the shares of the Company’s common stock allocated to his or her account and will be notified