JOHNSON & JOHNSON SAVINGS PLAN PLAN DETAILS

1 JOHNSON & JOHNSON SAVINGS plan . plan DETAILS . NON-UNION EMPLOYEES. FULL-TIME EMPLOYEES OF MCNEIL PPC, INC., LITITZ, PA, REPRESENTED BY THE UNITED STEEL, PAPER AND FORESTRY, RUBBER, MANUFACTURING, ENERGY, ALLIED INDUSTRIAL AND. SERVICE WORKERS INTERNATIONAL UNION AND ITS LOCAL 670. SUMMARY plan DESCRIPTION AND PROSPECTUS. October 2018. SAVINGS plan QUICK REFERENCE. Quick Reference Guide Am I eligible for this plan ? Generally, US union and non-union employees of participating employers are eligible for this plan . Employees based in Puerto Rico and certain other employees are not eligible.

2 How does this plan benefit me? You are eligible to contribute 3% to 50% of eligible pay as Pre-tax, Roth or Post-tax Contributions. The company contributes $ for each $ you contribute, up to 6% of eligible pay. Eligible pay includes base salary and 50% of sales commissions. These matching contributions are subject to eligibility or vesting conditions, depending on your date of hire. Earnings on your investments are not taxed while the money remains in your account. When can I withdraw money from my account? After you terminate employment, you can withdraw the vested portion of your account.

3 While the SAVINGS plan is designed to support the accumulation of retirement assets, the plan does allow for withdrawals due to financial hardship or borrowing against your vested account balance prior to retirement. What do I need to do now? SAVINGS plan participation is voluntary, but subject to an automatic enrollment rule and periodic automatic enrollment initiatives. You can enroll, or choose not to participate, by logging into For Your Benefit or by calling the Benefit Service Center. If you do not take action within your first 30 days of employment, you will be automatically enrolled.

4 What happens if I . Leave the Company before early retirement age? After leaving the company, you can leave your money in the plan , take a distribution of your vested account balance, or roll your vested account balance over to an IRA or another qualified retirement plan . Die before receiving my SAVINGS plan balance? Your vested balance will belong to your beneficiaries (if you die while actively employed, your balance will become fully vested). Become disabled? Contributions can continue while you are on Short Term Disability, but not during Long Term Disability.

5 Once on Long Term Disability you may take a total or partial distribution of your vested account balance. What else do I need to know? Detailed information is provided in this Summary plan Description. For answers to questions not answered in this Summary plan Description, please contact the Benefit Service Center. I. SAVINGS plan CONTENTS. TABLE OF CONTENTS. Introduction .. 1. Who Is Eligible? .. 1. Your Contributions .. 2. Company Match .. 2. Vesting: Your Rights To The Money In Your Account .. 3. Enrolling/Automatic Enrollment .. 3. Employment Status Changes.

6 5. Urgent Financial Needs .. 5. Benefit Service Center .. 7. How Much You Can Contribute .. 8. Pre-Tax Contributions .. 10. Roth Contributions .. 11. Post-Tax Contributions .. 13. Summary comparison of Pre-Tax, Roth and Post-Tax Contributions .. 14. Catch-Up Contributions For Ages 50 And Older .. 15. Changing Your Contribution Rate .. 15. Automatic Escalation .. 15. Rollovers From Another Employer's plan .. 16. Rollovers From the Consolidated Retirement plan of JOHNSON & JOHNSON .. 16. Military Leave .. 16. Company Match .. 18. Vesting.

7 20. Your Employee Contributions .. 20. Company Matching Contributions .. 20. The Investment Funds .. 21. Investment Choices .. 21. Daily 25. Unit Accounting .. 25. How Are My Investments Doing? .. 25. Your Rights As A J&J Shareholder .. 26. Changing Your Investments .. 27. Investment Change Limitations .. 27. Automatic Rebalancing .. 28. Loans and Withdrawals .. 30. Loan Program .. 30. Non-Hardship Withdrawal .. 34. Hardship Withdrawal .. 34. Taxes On Withdrawals .. 35. Payment Of Your Account .. 36. If You Leave Or Retire From the JOHNSON & JOHNSON Controlled Group.

8 36. Payment To Your Beneficiary .. 39. If You Are Disabled .. 40. Payment Of Your Account At Age 70 .. 40. Taxes .. 41. plan Qualification .. 41. Taxes On Contributions .. 41. Loan Interest .. 42. plan Withdrawals and Distributions .. 42. Special Rule if Born Before January 1, 1936 .. 43. I. SAVINGS plan CONTENTS. Rollover .. 43. Unrealized Appreciation On Employer Securities .. 44. Additional Tax On Early Distributions .. 44. Nonqualified Distributions of Roth Contributions and Earnings .. 45. General plan Information .. 46. Participating Employers.

9 46. Non-Assignment Of Benefits .. 46. Recovery of Overpayments .. 46. Doubt as to Identity or Whereabouts .. 46. Future Of The plan .. 47. Pension Benefit Guaranty Corporation .. 47. Issuer Of Stock .. 47. plan Identification .. 47. Trustee and Asset Managers .. 48. Benefit 48. plan Administration .. 48. plan Records .. 49. Normal Retirement Age .. 49. Collectively Bargained Employees .. 49. Summary plan Description .. 49. Potential Delays In Processing .. 49. When You Have A Claim For Benefits .. 50. Legal Action .. 51. Your Rights Under ERISA.

10 52. Documents Available Upon 54. 56. II. SAVINGS plan INTRODUCTION. INTRODUCTION. The JOHNSON & JOHNSON SAVINGS plan (also called the SAVINGS plan or the plan ). offers you a unique opportunity to save for retirement. Together with Social Security and your J&J pension benefits, your SAVINGS in this plan can play a major role in providing the retirement income you will need. The advantages of the SAVINGS plan include a 75% Company Match, deferral of current federal income taxes on pre-tax contributions and Company Matching Contributions, the ability to make Roth contributions and non-Roth post-tax Contributions, convenient automatic payroll deductions, the ability to diversify your SAVINGS among a wide variety of investment funds, and the availability of favorable tax treatment on investment earnings.