Company: WBS-PG
Filing Date: 2025-06-26
Form Type: 11-K
Source: 0000801337-25-000059
Chunk: 4

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-06-26
Form: 11-K
Chunk 4
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 and $249,835 of participant contributions receivable. On January 2, 2024, the non-interest-bearing cash was allocated across the Plan’s various investment options as directed by each of the former Sterling National Bank 401(k) and Profit Sharing Plan participants.

Effective January 23, 2024, the Bend Financial Inc., 401(k) Plan was merged with and into the Plan (the Bend Plan Merger). The transfer in of net assets associated with the Bend Plan Merger totaled $2,220,585, and comprised entirely of investments.

Effective February 10, 2025, the Ametros 401(k) Plan was merged with and into the Plan (the Ametros Plan Merger). The transfer in of net assets associated with the Ametros Plan Merger totaled $4,131,766, and comprised $4,074,405 of investments and $57,361 of notes receivable from participants.

#### Contributions
Each year, participants may make pre-tax and/or post-tax Roth contributions up to 75% of their annual compensation through voluntary payroll deductions, subject to the Internal Revenue Service (IRS) limit of $23,000 and $22,500 for 2024, and 2023, respectively. Participants who have attained age 50 before the end of the plan year are eligible to make catch-up contributions, subject to the IRS limit of $7,500 for both 2024, and 2023. Participants may also contribute amounts representing distributions from other qualified plans (rollover).

The Plan includes an auto-enrollment provision whereby all newly eligible employees are automatically enrolled in the Plan on a pre-tax basis after 90 days of hire, unless they affirmatively elect not to participate in the Plan. Automatically enrolled participants have their deferral rate set at 3% of eligible compensation and their contributions invested in a designated fund until changed by the participant.

The employer will make a matching contribution equal to 100% of a participant’s deferral contribution to the extent the participant’s deferral contribution does not exceed 2% of their annual compensation, plus 50% of a participant’s deferral contribution to the extent the participant’s deferral contribution exceeds 2% but does not exceed 8% of their annual compensation. In addition, the employer makes transition contributions that range from 1% to 6% of annual compensation to participants who were age 35 or older on January 1, 2008, were employed by the Bank on December 31, 2006,