Company: WBS-PG
Filing Date: 2025-06-26
Form Type: 11-K
Source: 0000801337-25-000059
Chunk: 7

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-06-26
Form: 11-K
Chunk 7
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) and Profit Sharing Plan as of December 28, 2023, or the Bend Financial, Inc. 401(k) Plan as of January 22, 2024, and whose account balance had transferred to the Plan, became fully vested in their transferred account balance as of the respective plan merger effective date. Any of such individuals who had attained age 59-1/2 may also withdraw all or a portion of their transferred account balance.

Effective January 1, 2024, if an employee is either newly hired or rehired on or after January 1, 2024, and is automatically enrolled in the Plan, or if an employee is a former participant of the Sterling National Bank 401(k) and Profit Sharing Plan who was automatically enrolled in that plan prior to the Sterling Plan Merger, their deferral rate shall automatically increase by 1% each January 6 up to a maximum of 15%, unless the participant elects to opt out of this automatic increase feature. However, if a newly hired or rehired employee is hired on or after July 1, their deferral contribution percentage will not be automatically increased during the first plan year in which an automatic increase is scheduled.

Effective January 1, 2024, former participants of the Sterling National Bank 401(k) and Profit Sharing Plan may withdraw any portion of their transferred deferral contributions account balance if such a distribution would meet the requirements to be a Qualified Reservist Distribution, as defined in the plan document.

Effective January 1, 2025, an employee is not required to be a Regular Employee, as defined in the plan document, to be eligible to participate in the Plan.

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### WEBSTER BANK RETIREMENT SAVINGS PLAN

### NOTES TO FINANCIAL STATEMENTS
Effective January 1, 2025, the deferral rate for automatically enrolled participants will automatically increase by 1% on April 1 of each year up to a maximum of 15%, unless the participant elects to opt out of the automatic increase feature. However, if a newly hired or rehired employee is hired on or after July 1, their deferral contribution percentage will not be automatically increased during the first plan year in which an automatic increase is scheduled.

Effective January 1, 2025, for participants aged 60, 61, 62, or 63, the catch-up contribution limit is the greater of (i) $10,000 or (ii