NHANCED SERVICES TO MEET GROWIN

STATE STREET

RETIREE
ADMINISTRATION
SERVICES

LAN ADMINISTRATION DEMANDS

Retiree servicing poses significant operational and administrative challenges for retirement
plan sponsors. As the number of retirees continues to swell and service demands become
increasingly complex, plan sponsors are choosing to outsource their responsibilities for retiree
benefit administration. By handing these tasks over to a service provider who specializes in
the needs of retirees, plan sponsors can achieve operational and cost efficiencies while
keeping service levels high.

State Street is a leading provider of such comprehensive retiree services. Since 1977,
our Retiree Services group has been focused exclusively on providing customers with
comprehensive data management, flexible reporting, timely distribution of benefit payments
and dependable, personal service for their retirees.

Today, State Street is the largest provider of benefit payments among trustee banks. We
service more than 750 customers — including public pension plans, corporations, nonprofit
organizations and more — and process three million benefit payments every month.

With our enhanced suite of Retiree Administration Services, we have expanded both our
offerings and our servicing capabilities to deliver the most comprehensive level of service
available in the industry.

FEATURES
State Street’s Retiree Administration Services’ broad range of capabilities goes far beyond the standard
call center services. We offer full back-office support, leaving plan sponsors free from the burden
of administrative tasks, while still ensuring that retirees receive the highly personalized service they
want. Our suite of Retiree Administration Services focuses on three main areas: personalized participant
service, plan sponsor administrative support and event-driven change management.

PERSONALIZED PARTICIPANT SERVICE

State Street’s participant service representatives — with their specialized training and skills in serving
retirees — are committed to providing industry-leading service to your retirees, including:

> Dedicated phone support. We offer your retirees direct, toll-free access to our highly trained
representatives, so inquiries can be resolved quickly and accurately.

continued >
> Forms processing. Retirees can request forms, such as direct deposit or change of address
forms, directly from our representatives through the call center. The service team will review
returned forms to ensure that they are complete and ready for processing.
> Stop-payment and re-issue notifications on checks. With direct access to our representatives,
retirees can request that new checks be sent to an address on file or to a new address.
> Verification of income. Our representatives will guide retirees through the process of providing
written approval to release payment information to outside organizations.

PLAN SPONSOR ADMINISTRATIVE SUPPORT

We work closely with retirement plan sponsors to develop comprehensive guidelines for communicating
directly with your retirees through a series of mailings. Using these guidelines, our professionals
will handle our customers’ administrative responsibilities, including proactively initiating research
and retiree communication as needed to head off possible issues, including:

> Overpayment recovery. We work with each customer to develop a protocol for researching and
recovering funds paid inappropriately and returning these funds to the trust.
> Outstanding check follow-up. Plan sponsors can set a customized course of action that our
service team will follow to correspond with retirees on uncashed benefit payments.
> Death audit research. We cross-check our payment database with information from the Social
Security Administration twice a year. We then send written notifications to validate the results
of the audit.

EVENT-DRIVEN CHANGE MANAGEMENT

Following up on retiree status changes can be difficult and time consuming. Our professionals will
directly handle these changes for plan sponsors. Because we store your retiree data on our own
systems, we have immediate access to the information needed to work directly with retirees in
facilitating and resolving issues. Our main objective is to expedite the processing of these events
and return outstanding funds to the plan as quickly as possible.

> Deferred vested and beneficiary processing. Our service covers mailing, tracking, receipt,
review and input of the necessary documentation for activating retiree status based on
predetermined values.
> Financial change notification. We will monitor timelines for scheduled changes to retirees’
benefit payments based on predetermined values — and we will send them customized
communications in advance.
> Death processing. Beginning with the notification of a death, our experts will handle all
required communications and forms — including notification of the appropriate outside
organizations — to ensure the prompt, smooth transition of pension payments to beneficiaries
and/or survivors.

2
BENEFITS
Backed by State Street’s recognized industry leadership in investment servicing, our comprehensive
Retiree Administration Services offer a host of benefits to our customers:

> A flexible service model that enables us to create customized solutions to match each plan’s
overall benefit administration strategy.
> Improved service quality and lower costs that come from the economies of scale that only
State Street can offer.
> Greater control and efficiency of plan management through documented, monitored procedures.
> An unmatched level of accuracy, timeliness and responsiveness enhanced by our systems
and technology.
> Dedicated, expert administrators who are knowledgeable about each plan and each organization
we serve, and who are committed to providing superior service.

AN INDUSTRY LEADER WITH A FOCUS ON TECHNOLOGY

State Street’s technology leadership is at the foundation of our ability to deliver the industry’s most
advanced solutions to customers. From our full-service customer call centers in Boston, Mass., and
Jacksonville, Fla., we help plans more effectively track and respond to retiree inquiries.

Key features of our technology-based capabilities include:

> Digitally recorded calls. We will monitor and review recorded calls to maintain quality interaction
and service levels.
> Customer database. Quick computer access to customer-specific information helps our retiree
service representatives respond to retiree questions quickly and efficiently.
> Telecommunications device for the deaf (TDD). Using our TDD capabilities, hearing-impaired
individuals have direct access to our retiree service representatives.

COMMITTED TO DELIVERING CUSTOMIZED SERVICE

Providing the highest level of service to retirees is the goal of every pension plan sponsor. However,
the time and resources required can strain even the most efficient plan’s operations.

By becoming an extension of our customers’ back offices, State Street’s retiree service representatives
ensure that individual retirees’ needs are met — and that our service exceeds their expectations.

State Street’s Retiree Administration Service model offers a fully customizable solution, based on
each customer’s benefit administration strategy, plan provisions and culture.

3
 STATE STREET ADVANTAGE
With US$10.9 trillion* in assets
under custody and US$1.5 trillion*
in assets under management, State
Street is the world’s leading provider
of financial services to institutional
investors.

Our broad and integrated range of

services spans the entire investment
spectrum, including research, invest-
ment management, trading services
and investment servicing. By using
any combination of these services,
our customers can deliver more value
to their clients, control costs, launch
new products, and expand globally.

With operations in 26 countries and

an investment network in more than
100 markets, State Street delivers
the tools and services that global
institutional investors need to be
successful.

*As of June 30, 2006

FOR MORE INFORMATION,

PLEASE CONTACT:
State Street’s
Retiree Services Group
+1 617 985 1500
WWW.STATESTREET.COM

© 2006 STATE STREET CORPORATION 06-INS03930706