Tuesday, September 10, 2013

Cash Balance Pension Plan - Diageo Benefits Handbook

Cash Balance Pension Plan - Diageo Benefits HandbookDiageo: Your 2013 Employee Benefits | 1 Cash Balance Pension Plan The Diageo North America, Inc. Cash Balance Pension Plan is a Company-funded defined benefit plan that provides you with retirement income in addition to the Company’s 401(k) Plan. These Company-sponsored plans, together with your personal savings, can help you maintain your future financial security. IN THIS SECTION SEE PAGE How the Cash Balance Pension Plan Works ...............................................................2 Your Cash Balance Account..........................................................................................3 Company Contribution Credits ....................................................................................3 Interest Credits ............................................................................................................4 Vesting Service ...............................................................................................................5 Break in Service ..........................................................................................................5 If You Leave the Company and Are Rehired...............................................................6 Transferring to a Diageo NA Affiliate...........................................................................7 Transferring from a Diageo NA Affiliate.......................................................................7 When Your Cash Balance Benefit Is Payable ..............................................................7 Deferred Vested Benefit ..............................................................................................7 Normal Retirement

Benefit ..........................................................................................7 Working after Age 65...................................................................................................7 Working after Age 70 1  2 ................................................................................................8 Disability Retirement Benefit .......................................................................................8 Distribution of Your Account.........................................................................................8 Forms of Benefit ..........................................................................................................8 Suspension of Benefits..............................................................................................10 Delaying Your Cash Balance Benefit ........................................................................10 If You Die Before Benefits Begin...............................................................................10 Taxes on Distributions...............................................................................................11 Applying for Your Cash Balance Pension Benefit .....................................................12 Social Security Benefits...............................................................................................12 Plan History...................................................................................................................12 If You Were a Participant in a Previous Plan .............................................................13 Guinness Bass Import Co..........................................................................................13 Lifetime Compensation, Paddington, or Guinness Plans..........................................13 2 | Diageo: Your 2013 Employee Benefits How the Cash Balance Pension Plan Works Each calendar quarter, the Company will credit 10% of your eligible pay as Contribution Credits plus an Interest Credit to your “account”. You become vested in your account after completing three years of service. You cannot take loans on your account or roll over a distribution from a previous employer’s plan or IRA. If you leave the Company or retire, the full value of your vested account is available to you. You may choose a lump sum payment or, if your account balance is greater than $5,000, you may choose from other payment options. See “When Your Cash Balance Benefit Is Payable” on page 7 Plan Funding The Company pays the full cost of the Cash Balance Pension Plan by making contributions to a trust fund. You are not permitted to make contributions on your behalf. The trust fund is managed by a trustee. It is the trustee’s responsibility to safeguard the fund. More information about the trustee is included in the Administration section. Eligibility You become eligible to participate in the Cash Balance Pension Plan on the first of the month following your hire date (if you are age 21 or older). If you are hired on the first of a month, you will be eligible to participate in the plan on your hire date. If you are younger than age 21, you will be eligible on the first of the month following your 21 st birthday. You are eligible to participate in the Cash Balance Pension Plan if you are an eligible employee of Diageo North America, Inc. or other participating Diageo company. You are an eligible employee of a participating company if you are:  A salaried employee  A non-union hourly employee (other than a vineyard worker) who is employed at winery, bottling, warehouse, distribution or visitor center facility as designated by the Company ...

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