Company: TNCAF
Filing Date: 2025-06-18
Form Type: 11-K
Source: 0001232384-25-000054
Chunk: 3

Company: TC ENERGY CORP
Filing Date: 2025-06-18
Form: 11-K
Chunk 3
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TCUSA or the Company) or its subsidiaries not covered by a collective bargaining agreement, unless participation is required by the agreement. The Plan excludes employees hired under the Company’s student program, until they reach age 21 and have completed at least 1,000 hours of service, special project employees, non-resident persons with no income from a United States source and non-resident persons who have been non-residents for a period of 183 days or more, unless the employee remains on the Company's payroll. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA).

The Board of Directors of TCUSA (the Board) has appointed the TransCanada USA Investment Committee and TransCanada USA Benefits Committee as the plan administrators and fiduciaries of the Plan. The Board has also appointed Fidelity Management Trust Company (Fidelity or the Trustee) as custodian and trustee of the Plan’s assets. Fidelity Investments Institutional Operations Company serves as the record keeper for the Plan.

On October 1, 2024, the indirect parent company of TCUSA, TC Energy Corporation (TC Energy), completed the spinoff of its Liquids Pipelines business into the new public company, South Bow Corporation (South Bow) (the Spinoff Transaction). As part of the Spinoff Transaction, shareholders of TC Energy common stock in the Plan received one new TC Energy common share and 0.2 of a South Bow common share in exchange for each TC Energy common share held.

As part of the Spinoff Transaction, certain participants of the Plan who were previously employed by TCUSA became employees of South Bow. The net assets available for benefits under the Plan in respect of these employees were transferred to the South Bow USA Services Inc. 401(k) and Savings Plan effective October 1, 2024.

#### Employee and Employer Contributions
Participants are automatically enrolled at a pre-tax contribution rate of 5 percent, which increases by 1 percent each January until reaching 10 percent. Participants may contact the Trustee to opt out of the automatic annual increase.

Each year participants may elect to defer up to 60 percent of their eligible compensation into the Plan on a pre-tax basis, Roth after-tax basis or a combination of both, subject to certain limitations under the Internal Revenue Code of 1986, as amended (the Code). Participants may also elect to contribute up to 25 percent of their compensation as an after-tax contribution, subject to certain limitations under the Code. Participants aged 50 or