Company: AOS
Filing Date: 2025-06-30
Form Type: 11-K
Source: 0000091142-25-000086
Chunk: 7

Company: SMITH A O CORP
Filing Date: 2025-06-30
Form: 11-K
Chunk 7
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. Contributions from the Company are accrued in the period in which they become obligations of the Company in accordance with terms of the Plan.

For non-union employees, the Company makes a matching contribution equal to 100% on the first 1% of a participant’s compensation and 50% on the next 5% of a participant’s compensation that is contributed to the Plan, for a maximum annual matching contribution of 3.5%. In addition to the matching contribution, the Company also makes a non-elective contribution of 3% of pay for certain participants. The Company will make a non-elective contribution for a participant for a plan year if the participant was not eligible to accrue a benefit under any defined benefit pension plan or money purchase pension plan sponsored or contributed to by the Company for such plan year, the participant was either employed as a full-time equivalent employee for the plan year or is credited with 1,000 hours of service for the plan year, and the participant was employed by the Company on December 31 of the plan year or terminated during the plan year after having attained age 65 (or retirement eligibility under the company’s defined benefit plan) or as a result of death, disability or job elimination.

Union employees receive a Company matching contribution equal to 50% of their contribution up to 4% of payroll period compensation.

#### Participant Account Provisions
A separate account is maintained for each participant. The separate account balances are adjusted periodically as follows:

a. Weekly for hourly participant contributions; semimonthly for salaried participant contributions.

b. Weekly for Company matching contributions for hourly participants; semimonthly for Company matching contributions for salaried participants.

c. Annually for non-elective company contributions.

d. Daily for a proportionate share of increases and decreases in the fair value of Plan assets.

e. At the time of benefit distribution or withdrawal, which consists of the following:

i. Upon retirement, death, disability, or termination of employment resulting from a permanent reduction of personnel, an employee may withdraw any amount or the entire account balance for any reason. At age 72 (70 1/2 if you reach 70 1/2 before January 1, 2020), an account distribution election must be made.

ii. Upon termination of employment for other reasons, the balance in the separate account (reduced for non-vested Company contributions and growth thereon based on years of service) may be paid in a lump sum.

iii. An active participant age