You must elect to contribute to an FSA during Annual Enrollment , within 31 days of becoming benefits eligible, or within 31 days of experiencing a Qualified Life Event (QLE). FSA Elections do not automatically roll over from year to year.

Once you make your elections, your contribution will continue for the entire calendar year unless:

• You terminate your employment with Morgan Stanley
• You become ineligible to participate in the FSA
• Your earnings are reduced to an amount less than your annual FSA election
• Your contribution is reduced based on IRS nondiscrimination requirements, or
• You change your election due to a QLE