Glossary of Terms

ACCOUNT: The individual account of a Participant to which are credited (1) Employer contributions in the Money Purchase Pension Plan, and (2) credited deferrals of compensation in the Deferred Compensation plan, and in both cases, allocable share of earnings, gains and losses and expenses and any other changes in the value of the assets of the Trust Fund as of the last valuation date.

ALTERNATE PAYEE: The person designated to receive payments pursuant to a Qualified Domestic Relations Order, such as your spouse, former spouse, child or other dependent.

ANNUITY: A stream of substantially equal payments that occur at pre-determined intervals (i.e., monthly, quarterly or annually). The payments are designed to continue for a fixed period or for a contingent period, such as your lifetime.

BENEFICIARY: The person or persons who, upon your death, is or are entitled to receive your interest under the plan.

COMMITTEE: The Investment Plans Committee appointed in accordance with Section 13 of the Deferred Compensation Plan and Article IX of the Money Purchase Pension Plan.

COMPENSATION: The amount of your compensation paid to you by BART for your services.

The following special rules are applied to the Money Purchase Pension Plan.

Limitations: Compensation does not include the first $133.33 of a Participant’s pay each month, or amounts in excess of $29,700 per year.

Payroll: The normal regular earnings of a Participant, including holiday leave pay, vacation leave pay, sick leave pay, shift differentials and deferrals to the Deferred Compensation Plan.

In the Deferred Compensation Plan, the term “Includable Compensation” means wages, salaries and other amounts received for personal services, plus non-taxable deferrals under the Deferred Compensation Plan or other non-taxable deferrals under Code sections 125 or 132(f)(4). Please refer to question 12 under the Deferred Compensation Plan.

EMPLOYEE: Any officer or employee of the Employer who performs services for the Employer, or any individual who performs services for the Employer pursuant to the terms of a written contract between the Employer and such individual.

EMPLOYER: The San Francisco Bay Area Rapid Transit District.

NORMAL RETIREMENT AGE: For the Deferred Compensation Plan, Normal Retirement Age means the date a Participant attains age 70½ or, at the election of the Participant, any earlier date that is no earlier than age 50 for sworn police officers and age 55 for all other Participants. For the Money Purchase Pension Plan, Normal Retirement Age means the attainment of age 59½.

PARTICIPANT: Any Employee who fulfills the requirements of enrollment into the Plan.

PLAN: The San Francisco Bay Area Rapid Transit District Deferred Compensation Plan or the San Francisco Bay Area Rapid Transit District Money Purchase Pension Plan, as referenced in the respective portions of this combined summary plan description.

PLAN RECORD KEEPER: The person or entity referenced as such in the Contacts section at the end of this Summary Plan Description.

PLAN YEAR: The calendar year (January 1 through December 31).

QUALIFIED DOMESTIC RELATIONS ORDER (QDRO) / DOMESTIC RELATIONS ORDER: A judicial judgment, decree or order relating to the child support, alimony or marital property rights of your spouse, former spouse, child or dependent which is made under state domestic relations law and which meets the requirements of the Internal Revenue Code.

TRUST FUND: The property and income, adjusted for earnings, losses, payments and reasonable expenses, held by the Trustee under the trust agreement established by the Employer for the purpose of holding and managing the assets of the Deferred Compensation Plan or the Money Purchase Pension Plan.

TRUSTEE: An appointed institution that holds the assets of the referenced Plan in trust.