Summary Annual Reports

In compliance with the Employee Retirement Income Security Act (ERISA), WVU Research Corporation is providing all plan participants and those eligible to participate with a Summary Annual Report for certain WVU Research Corporation Health and Welfare plans and the 403(b) Defined Contribution plan for the 2023 plan years.

This notice contains important information about the plans and your rights under ERISA, which should be read and retained for future reference. If you wish to obtain a paper copy of any of these forms, or have any questions, please contact WVU Research Corporation Benefits at rcbenefits@mail.wvu.edu .

Summary Annual Report for the West Virginia University Research Corporation Employee Benefits Plan - Health Insurance Plan

This is a summary of the annual report of the West Virginia University Research Corporation Employee Benefits Plan, EIN 55-0665758 for December 1, 2022 through November 30, 2023. The annual report has been filed with the Employee Benefits Security Administration, as required under the Employee Retirement Income Security Act of 1974 (ERISA).

Insurance Information

The plan has a contract with Highmark West Virginia to pay medical claims incurred under the terms of the plan. The total premiums paid for the plan year ending November 30, 2023 were $6,664,770.

Your Rights to Additional Information

You have the right to receive a copy of the full annual report, or any part thereof, on request. The items listed below are included in that report:

1. financial information and information on payments to service providers;

2. fiduciary information, including non-exempt transactions between the plan and parties-in-interest (that is, persons who have certain relationships with the plan);

3. insurance information including sales commissions paid by insurance carriers.

To obtain a copy of the full annual report, or any part thereof, write or call the office of WVU Research Corporation Human Resources, Plan Administrator, at One Waterfront Place, Morgantown, West Virginia, 26506 or 304-293-4616, or email RCBenefits@mail.wvu.edu.

You also have the legally protected right to examine the annual report at the main office of the plan at WVU Research Corporation Human Resources, One Waterfront Place, Morgantown, West Virginia, 26506, and at the U.S. Department of Labor in Washington, D.C. or to obtain a copy from the U.S. Department of Labor upon payment of copying costs. Requests to the Department should be addressed to: Public Disclosure Room, Room N-1513, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W., Washington, D.C. 20210.

Paperwork Reduction Act Statement

According to the Paperwork Reduction Act of 1995 (Pub. L. 104-13) (PRA), no persons are required to respond to a collection of information unless such collection displays a valid Office of Management and Budget (OMB) control number. The Department notes that a Federal agency cannot conduct or sponsor a collection of information unless it is approved by OMB under the PRA, and displays a currently valid OMB control number, and the public is not required to respond to a collection of information unless it displays a currently valid OMB control number. See 44 U.S.C. 3507. Also, notwithstanding any other provisions of law, no person shall be subject to penalty for failing to comply with a collection of information if the collection of information does not display a currently valid OMB control number. See 44 U.S.C. 3512.

The public reporting burden for this collection of information is estimated to average less than one minute per notice (approximately 3 hours and 11 minutes per plan). Interested parties are encouraged to send comments regarding the burden estimate or any other aspect of this collection of information, including suggestions for reducing this burden, to the U.S. Department of Labor, Office of the Chief Information Officer, Attention: Departmental Clearance Officer, 200 Constitution Avenue, N.W., Room N-1301, Washington, DC 20210 or email DOL_PRA_PUBLIC@dol.gov and reference the OMB Control Number 1210-0040.

OMB Control Number 1210-0040 (expires 03/31/2026)

Summary Annual Report for the West Virginia University Research Corporation Employee Benefits Plan - Dental, Vision, Life, Short and Long-term Disability Insurances

Insurance Information

The plan has contracts with Principal Life Insurance Company to pay dental, vision, life, short-term and long-term disability claims incurred under the terms of the plan. The total premiums paid for the plan year ending November 30, 2023 were $626,573.

Your Rights to Additional Information

You have the right to receive a copy of the full annual report, or any part thereof, on request. The items listed below are included in that report:

1. financial information and information on payments to service providers;

2. fiduciary information, including non-exempt transactions between the plan and parties-in-interest (that is, persons who have certain relationships with the plan);

3. insurance information including sales commissions paid by insurance carriers.

Paperwork Reduction Act Statement

OMB Control Number 1210-0040 (expires 03/31/2026)

Summary Annual Report for the West Virginia University Research Corporation 403(b) Defined Contribution Plan

This is a summary of the annual report for the West Virginia University Research Corporation 403(b) Defined Contribution Plan, EIN 55-0665758 for January 1, 2023 through December 31, 2023. The annual report has been filed with the Employee Benefits Security Administration, as required under the Employee Retirement Income Security Act of 1974 (ERISA).

Basic Financial Statement

Benefits under the plan are provided by insurance and trust. Plan expenses were $1,796,211. These expenses included $19,942 in administrative expenses and $1,776,269 in benefits paid to participants and beneficiaries. A total of 1354 persons were participants in or beneficiaries of the plan at the end of the plan year.

The value of plan assets, after subtracting liabilities of the plan, was $36,742,929 as of December 31, 2023, compared to $29,212,869 as of January 1, 2023. During the plan year the plan experienced an increase in its net assets of $7,530,060. This increase includes unrealized appreciation or depreciation in the value of plan assets; that is, the difference between the value of the plan's assets at the end of the year and the value of the assets at the beginning of the year or the cost of assets acquired during the year. The plan had total income of $9,326,271 including employer contributions of $1,649,497, employee contributions of $2,445,258, other earnings of $90,538, and earnings from investments of $5,140,978.

Your Rights to Additional Information

You have the right to receive a copy of the full annual report, or any part thereof, on request. The items listed below are included in that report:

1. an accountant's report;

2. financial information and information on payments to service providers;

3. assets held for investment;

4. fiduciary information, including non-exempt transactions between the plan and parties-in-interest (that is, persons who have certain relationships with the plan);

5. loans or other obligations in default or classified as uncollectible;

6. transactions in excess of 5 percent of the plan assets;

7. insurance information including sales commissions paid by insurance carriers;and

8. actuarial information regarding the funding of the plan.

You also have the right to receive from the plan administrator, on request and at no charge, a statement of the assets and liabilities of the plan and accompanying notes, or a statement of income and expenses of the plan and accompanying notes, or both. If you request a copy of the full annual report from the plan administrator, these two statements and accompanying notes will be included as part of that report.

You also have the legally protected right to examine the annual report at the main office of the plan at WVU Research Corporation Human Resources, One Waterfront Place, Morgantown, West Virginia, 26506 or 304-293-4616., and at the U.S. Department of Labor in Washington, D.C., or to obtain a copy from the U.S. Department of Labor upon payment of copying costs. Requests to the Department should be addressed to: Public Disclosure Room, Room N-1513, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W., Washington, D.C. 20210.

Paperwork Reduction Act Statement

OMB Control Number 1210-0040 (expires 03/31/2026)