Participant Accounts
Each participants account is credited with the participants contributions, Company contributions, and an allocation of Plan
earnings or losses. The benefit to which a participant is entitled is the benefit that can be provided from the participants account.
Vesting
Participants are 100% vested immediately in the value of their contributions, earnings thereon and rollovers from other qualified
plans.
The Companys matching contribution and the retirement savings contribution, and earnings thereon, vest at a rate specified
in each Special Appendix. To the extent a participant is not 100% vested in the Companys matching contributions or retirement savings contribution, upon attainment of age 65 or termination of employment due to death or permanent disability, a
participant will become 100% vested in the Companys matching contributions and retirement savings contributions. Forfeited non-vested accounts are applied to reduce future Company contributions.
Investment Options
Participants may
elect to invest their account balances in any of the available investment options provided by the Plan through the PCA Defined Contribution Master Trust (the Master Trust). Participants may change their investment options on any business
day, subject to certain short-term trading restrictions outlined in the Plan document.
The portion of the Plans interest in the
Master Trust currently invested in the PCA Common Stock Fund, and any future employee or employer contributions used to acquire PCA common stock, is invested in the Employee Stock Ownership Plan (ESOP) component of the Plan. Plan
participants may instruct the Plans trustee to distribute future cash dividends paid on shares of PCA common stock credited to their PCA common stock ESOP directly to them. The election to receive cash dividends is made through the PCA
Benefits Center, and dividends will be reported as taxable income.
Benefit Payments
In the event of retirement (as defined in the Plan), death, permanent disability, or termination of employment, the vested balance in the
participants account will generally be distributed to the participant or the participants beneficiary in a single lump-sum cash payment. The portion of the participants account invested in
the PCA Common Stock Fund will be distributed in cash unless elected to be distributed in kind. In-service withdrawals of rollover contributions and related earnings and certain predecessor plan account
balances, as defined, are available for any reason.
Certain participants, as specified in each covered locations Special Appendix,
who have attained age 55 may elect an in-service withdrawal from their vested Company matching contribution account. Participants, as specified in each locations Special Appendix, who have attained age
59 1/2 may elect to withdraw all or part of their account balance. A participants entire account balance shall be distributed no later than April 1 following the later of the calendar year in which the participant attains age 69 or
the calendar year in which the participants termination of employment occurs.
Administrative Expenses
Participant accounts are charged $20.00 per quarter for administrative expenses. If administrative expenses exceed the amount paid by
participants, the Company will pay the difference. Administrative expenses primarily include recordkeeper fees, investment management expenses, and professional service fees.
Notes Receivable from Participants
Certain participants, as specified in each covered locations Special Appendix, may borrow an amount up to the lesser of $50,000 or 50% of
their vested account balance. The minimum loan amount is $1,000. Such loans bear interest at the prime rate as published by The Wall Street Journal and are secured by the participants account balance in the Plan. Loans must be repaid
within 60 months, with principal and interest payments made primarily through payroll deductions. There may be loans that exceed the 60 month re-payment period, but only if they were transferred in
from another plan, and that plan had allowed for a payment period beyond 60 months. Employees on unpaid leave may continue to repay loans via personal check or money order during their period of absence. Participants also have the ability to
elect to make a one-time repayment of their outstanding loan balance, of which the payment can be made via personal check or money order. Participants may take up to two general purpose loans. A loan is
considered in default and becomes a taxable event when a loan is not current at the end of the cure period, the quarter following the quarter in which the payment was missed.
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