THE PURPOSE OF THE FUND

The sole purpose of the YWCA Retirement Fund is to ensure income in retirement for employees of participating YWCA Associations.

THE HISTORY OF THE FUND

The YWCA Retirement Fund is one of the oldest pension plans in the country. It is the first pension fund for women and predates Social Security.

The Fund was established as a complete, separate and independent entity incorporated in the State of New York in 1924.

The Fund began operation in September 1925 with initial funding provided by a $1.8 million donation from the Rockefeller family.

THE DESIGN OF THE FUND

The YWCA Retirement Fund (the "Fund") operates as a non-profit tax-exempt organization for the purpose of providing retirement benefits for employees of YWCAs in the United States.

The Fund sponsors The Young Women's Christian Association Retirement Fund, Incorporated Plan Document (the "Plan") which is qualified under Section 401(a) of the Internal Revenue Code and is governed by ERISA. The Plan is a cash balance defined benefit pension plan. The Plan assets are held in trust with JP Morgan Chase Bank, N.A., as Custodial Trustee, and the Plan benefits are paid from this trust.