The HSBC – North America (U.S.) Pension Plan Summary Plan Description (SPD) Legacy HSBC Bank Date: May 1, 2021 |PUBLIC| CONTENTS Introduction ...............................................................................................................................1 Participants Stop Earning HBUS Formula Benefits After 2010 ...........................................2 About This Document ..........................................................................................................3 Accessing Your Plan Information .............................................................................................4 Your Eligibility To Participate ....................................................................................................5 Your Plan Benefit ......................................................................................................................7 The HBUS Benefit Formula .................................................................................................7 Part 1 – Participant After December 31, 1988 ...............................................................8 Part 2 – Participant Before January 1, 1989 ..................................................................8 Examples ........................................................................................................................9 All HBUS Benefits Frozen On December 31, 2010 .................................................... 10 Participants With Interruptions In Employment Before 1976 ...................................... 10 Normal Retirement ........................................................................................................... 11 Special Early Retirement .................................................................................................. 11 Early Retirement ............................................................................................................... 12 If You Leave HSBC Before Retirement Age .................................................................... 12 If You Work Past Normal Retirement Age ........................................................................ 13 If You Become Disabled ................................................................................................... 14 IRS Limitations On Benefit Accruals And Payments ........................................................ 15 If You Die Before Benefits Are Paid ...................................................................................... 16 Spouse’s Preretirement Survivor Benefit ......................................................................... 16 Regular Spouse’s Benefit ............................................................................................ 16 Special Spouse’s Benefit ............................................................................................ 17 Automatic Lump Sum Payment Of Spouse’s Benefit.................................................. 17 Spouse’s Election To Delay Payments ....................................................................... 17 Participants In The Former Marine Midland Retirement Plan ..................................... 18 Civil Unions And Domestic Partners ................................................................................ 18 When Benefits Are Paid ........................................................................................................ 19 How Benefits Are Paid ........................................................................................................... 20 Normal Payment Methods ................................................................................................ 20 Optional Payment Methods .............................................................................................. 21 Life Annuity .................................................................................................................. 21 |PUBLIC| Life Annuity With 120 Months Certain ......................................................................... 21 50%, 75%, Or 100% Joint And Survivor Annuity ........................................................ 21 Naming A Beneficiary ....................................................................................................... 22 Applying For Benefits ............................................................................................................ 23 If Your Request For A Benefit Is Denied ............................................................................... 24 Benefit Claim Procedure .................................................................................................. 24 Appeal Procedure ............................................................................................................. 25 Judicial Review Of Committee’s Decision ........................................................................ 26 Claim For Disability Retirement Benefits ............................................................................... 26 Appeal Of Denial Of Disability Retirement Benefits ......................................................... 27 Judicial Review Of Committee’s Decision ........................................................................ 28 Claims By Beneficiaries Of Others ................................................................................... 29 Authorized Representative ............................................................................................... 29 Situations That Could Affect Your Benefit ............................................................................. 30 If You Are Reemployed By HSBC .................................................................................... 30 Reemployment Before Your Annuity Starting Date..................................................... 30 Reemployment After Your Annuity Starting Date........................................................ 30 Freeze In HBUS Accruals In 2010 .............................................................................. 32 If You Are Transferred ...................................................................................................... 32 Assignment Of Benefits .................................................................................................... 32 Qualified Domestic Relations Orders (QDRO) ................................................................. 32 If You Die During Military Service ..................................................................................... 33 How Benefits Could Be Reduced, Lost, Or Delayed ............................................................. 34 Offset By Benefits From Prior Plans ................................................................................ 35 Social Security ....................................................................................................................... 36 General Plan Information ....................................................................................................... 38 Plan Name ........................................................................................................................ 38 Plan Sponsor .................................................................................................................... 38 Participating Employers .................................................................................................... 38 Plan Administrator ............................................................................................................ 38 QDRO Administrator ........................................................................................................ 39 Agent For Service Of Legal Process ................................................................................ 39 Type Of Plan ..................................................................................................................... 39 Plan Identification Number ............................................................................................... 39 |PUBLIC| Plan Year .......................................................................................................................... 39 Plan Administration .......................................................................................................... 39 Plan Funding .................................................................................................................... 39 Plan Trustee ..................................................................................................................... 40 Additional Information About The Plan ............................................................................. 40 Plan Amendment .............................................................................................................. 40 Plan Termination .............................................................................................................. 40 Pension Benefit Guaranty Corporation .................................................................................. 42 Your Rights Under ERISA ..................................................................................................... 43 Receive Information About Your Plan And Benefits......................................................... 43 Prudent Actions By Plan Fiduciaries ................................................................................ 43 Enforce Your Rights 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