Common use of DISTRIBUTIONS FROM AN ACCOUNT Clause in Contracts

DISTRIBUTIONS FROM AN ACCOUNT. How Do I Request a Distribution From an Account? Distribution requests may be made online, by completing a withdrawal request form, or by telephone. If the withdrawal request is in good order, the Program typically will process the withdrawal and initiate payment within three (3) business days. During periods of market volatility and at year-end, however, withdrawal requests may take up to five business days to process. When requesting a withdrawal please allow 7 – 10 days for the proceeds to reach you. Contributions made by check, recurring contribution, or electronic funds transfer will not be available for withdrawal for seven (7) business days. If you make a change to your mailing address or to your banking information, or if you add a new bank account, no withdrawals can be made for fifteen (15) days following the change, unless you have provided a medallion signature guarantee. Although the Program Manager will report the Earnings Portion of a withdrawal to the IRS, it is solely the responsibility of the person receiving the withdrawal to calculate and report any resulting tax liability. An Account Owner may establish telephone and internet transaction privileges for an Account through the Program’s web site (XxxxxxXxxxxxxxxx.xxx) or by calling 000.000.0000. The Program Manager employs procedures it considers to be reasonable to confirm that instructions communicated by telephone or internet are genuine, including requiring certain personally identifiable information prior to acting on telephone or internet instructions. None of the Program Manager, the Program, the Trust, or the Treasurer will be liable for following telephone or internet instructions that the Program Manager reasonably believed to be genuine. What Constitutes a Federal Qualified Withdrawal? Federal Qualified Withdrawals from your Account are generally free from federal and Illinois state income tax, but a Federal Qualified Withdrawal that is also an Illinois Nonqualified Withdrawal may trigger recapture of any Illinois income tax deduction claimed for Contributions to the Account. See “Federal and State Tax Considerations.” Federal Qualified Higher Education Expenses, as defined in Section 529 of the Code, includes: • tuition, fees, books, supplies, and equipment required for enrollment of, or attendance by, a Beneficiary at an Institution of Higher Education; • certain room and board expenses incurred by students who are enrolled at least half-time at an Institution of Higher Education. The expense for room and board qualifies only to the extent that it isn’t more than the greater of the following two amounts:

DISTRIBUTIONS FROM AN ACCOUNT. How Do I Request a Distribution From an Account? Distribution requests may be made online, by completing a withdrawal request form, or by telephone. If the withdrawal request is in good order, the Program typically will process the withdrawal and initiate payment within three (3) business days. During periods of market volatility and at year-end, however, withdrawal requests may take up to five (5) business days to process. When requesting a withdrawal please allow 7 – 10 days for the proceeds to reach you. Contributions made by check, recurring contribution, or electronic funds transfer will not be available for withdrawal for seven (7) business days. If you make a change to your mailing address or to your banking information, or if you add a new bank account, no withdrawals can be made for fifteen (15) days following the change, unless you have provided a medallion signature guarantee. Although the Program Manager will report the Earnings Portion of a withdrawal to the IRS, it is solely the responsibility of the person receiving the withdrawal to calculate and report any resulting tax liability. An Account Owner may establish telephone and internet transaction privileges for an Account through the Program’s web site (XxxxxxXxxxxxxxxx.xxx) or by calling 000.000.0000. The Program Manager employs procedures it considers to be reasonable to confirm that instructions communicated by telephone or internet are genuine, including requiring certain personally identifiable information prior to acting on telephone or internet instructions. None of the Program Manager, the Program, the Trust, or the Treasurer will be liable for following telephone or internet instructions that the Program Manager reasonably believed to be genuine. What Constitutes a Federal Qualified Withdrawal? Federal Qualified Withdrawals from your Account are generally free from federal and Illinois state income tax, but a Federal Qualified Withdrawal that is also an Illinois Nonqualified Withdrawal may trigger recapture of any Illinois income tax deduction claimed for Contributions to the Account. See “Federal and State Tax Considerations.” Federal Qualified Higher Education Expenses, as defined in Section 529 of the Code, includes: • tuition, fees, books, supplies, and equipment required for enrollment of, or attendance by, a Beneficiary at an Institution of Higher Education; • certain room and board expenses incurred by students who are enrolled at least half-time at an Institution of Higher Education. The expense for room and board qualifies only to the extent that it isn’t more than the greater of the following two amounts:

DISTRIBUTIONS FROM AN ACCOUNT. How Do I Request a Distribution From an Account? Distribution requests may be made online, by completing a withdrawal request form, or by telephone. If the withdrawal request is in good order, the Program typically will process the withdrawal and initiate payment within three (3) business days. During periods of market volatility and at year-end, however, withdrawal requests may take up to five (5) business days to process. When requesting a withdrawal please allow 7 – 10 days for the proceeds to reach you. Contributions made by check, recurring contribution, or electronic funds transfer will not be available for withdrawal for seven (7) business days. If you make a change to your mailing address or to your banking information, or if you add a new bank account, no withdrawals can be made for fifteen (15) days following the change, unless you have provided a medallion signature guarantee. Although the Program Manager will report the Earnings Portion of a withdrawal to the IRS, it is solely the responsibility of the person receiving the withdrawal to calculate and report any resulting tax liability. An Account Owner may establish telephone and internet transaction privileges for an Account through the Program’s web site (XxxxxxXxxxxxxxxx.xxxXxxxxxXxxxx.xxx) or by calling 000.000.0000. The Program Manager employs procedures it considers to be reasonable to confirm that instructions communicated by telephone or internet are genuine, including requiring certain personally identifiable information prior to acting on telephone or internet instructions. None of the Program Manager, the Program, the Trust, or the Treasurer will be liable for following telephone or internet instructions that the Program Manager reasonably believed to be genuine. What Constitutes a Federal Qualified Withdrawal? Federal Qualified Withdrawals from your Account are generally free from federal and Illinois state income tax, but a Federal Qualified Withdrawal that is also an Illinois Nonqualified Withdrawal may trigger recapture of any Illinois income tax deduction claimed for Contributions to the Account. See “Federal and State Tax Considerations.” Federal Qualified Higher Education Expenses, as defined in Section 529 of the Code, includesinclude: • tuition, fees, books, supplies, and equipment required for enrollment of, or attendance by, a Beneficiary at an Institution of Higher Education; • certain room and board expenses incurred by students who are enrolled at least half-time at an Institution of Higher Education. The expense for room and board qualifies only to the extent that it isn’t more than the greater of the following two amounts:

DISTRIBUTIONS FROM AN ACCOUNT. How Do I Request a Distribution From an Account? Distribution requests may be made online, by completing a withdrawal request form, or by telephone. If the withdrawal request is in good order, the Program typically will process the withdrawal and initiate payment within three (3) business days. During periods of market volatility and at year-end, however, withdrawal requests may take up to five business days to process. When requesting a withdrawal please allow 7 – 10 days for the proceeds to reach you. Contributions made by check, recurring contribution, or electronic funds transfer will not be available for withdrawal for seven (7) business days. If you make a change to your mailing address or to your banking information, or if you add a new bank account, no withdrawals can be made for fifteen (15) days following the change, unless you have provided a medallion signature guarantee. Although the Program Manager will report the Earnings Portion of a withdrawal to the IRS, it is solely the responsibility of the person receiving the withdrawal to calculate and report any resulting tax liability. An Account Owner may establish telephone and internet transaction privileges for an Account through the Program’s web site (XxxxxxXxxxxxxxxx.xxxXxxxxxXxxxx.xxx) or by calling 000.000.0000. The Program Manager employs procedures it considers to be reasonable to confirm that instructions communicated by telephone or internet are genuine, including requiring certain personally identifiable information prior to acting on telephone or internet instructions. None of the Program Manager, the Program, the Trust, or the Treasurer will be liable for following telephone or internet instructions that the Program Manager reasonably believed to be genuine. What Constitutes a Federal Qualified Withdrawal? Federal Qualified Withdrawals from your Account are generally free from federal and Illinois state income tax, but a Federal Qualified Withdrawal that is also an Illinois Nonqualified Withdrawal may trigger recapture of any Illinois income tax deduction claimed for Contributions to the Account. See “Federal and State Tax Considerations.” Federal Qualified Higher Education Expenses, as defined in Section 529 of the Code, includesinclude: • tuition, fees, books, supplies, and equipment required for enrollment of, or attendance by, a Beneficiary at an Institution of Higher Education; • certain room and & board expenses incurred by students who are enrolled at least half-time at an Institution of Higher Education. The expense for room and board qualifies only to the extent that it isn’t more than the greater of the following two amounts: