There is no waiting period. You can enroll in the Plan at any time.

Complete the Enrollment Form at the back of this guide and return it to Fidelity Investments in the postage paid envelope provided.

Your enrollment becomes effective once you elect a deferral percentage, which initiates deduction of your contributions from your pay. These salary deductions will generally begin with your next pay period after we receive your enrollment information, or as soon as administratively possible.

Through automatic payroll deduction, you can contribute between 1% and 100% of your eligible pay on a pretax basis, up to the annual IRS dollar limits.

The IRS will allow you to personally contribute up to $23,500 to a qualifying plan during the 2025 calendar year.

For the 2025 calendar year, the IRS will allow a total employee plus employer contribution equal to 100% of your W2 compensation or $70,000, whichever is less.

If you have reached age 50 or will reach 50 during the calendar year January 1 to December 31 and are making the maximum plan or IRS contribution, you may make an additional "catch-up" contribution each pay period. The maximum annual catch-up contribution is $7,500. You make catch-up contributions through payroll deduction, the same way you make regular contributions.

If you have 15 years or more of service at UVM and have contributed less than $7,500 a year, on average, to the Plan, you may be able to make additional catch-up contributions to your Plan, up to a maximum of $3,000 per year, up to a maximum lifetime benefit of $15,000.

Your employer helps your retirement savings grow by matching your contributions. Please contact Human Resource Services for details.

You are immediately 100% vested in your own contributions to the University of Vermont 403(b) Retirement Savings Plan, as well as in any of your employer's matching contributions and any earnings on them.

To help you meet your investment goals, the Plan offers you a range of options. You can select a mix of investment options that best suits your goals, time horizon, and risk tolerance. The many investment options available through the Plan include conservative, moderately conservative, and aggressive funds. A complete description of the Plan’s investment options and their performance, as well as planning tools to help you choose an appropriate mix, are available online.

Withdrawals from the Plan are generally permitted when you terminate your employment, retire, become permanently disabled, or have severe financial hardship as defined by your Plan. UVM employee representatives are available at 802-656-3150.

If you wish to consolidate your account assets into your University of Vermont 403(b) Retirement Savings Plan account, please complete the Transfer/Rollover/Exchange Form at the back of this guide and return it to Fidelity Investments. For questions on completing the form, please contact a Fidelity Retirement Services Representative at 800-343-0860 Monday through Friday from 8 a.m. to midnight Eastern time.

You are permitted to roll over eligible pretax contributions from another 401(k) plan, 401(a) plan, 403(b) plan or a governmental 457(b) retirement plan account or eligible pretax contributions from conduit individual retirement accounts (IRAs). A conduit IRA is one that contains only money rolled over from an employer-sponsored retirement plan that has not been mixed with regular IRA contributions. Call the Fidelity Representatives at 800-343-0860 or log on to Fidelity NetBenefits^® at www.netbenefits.com/atwork for details.

Be sure to consider all your available options and the applicable fees and features of each before moving your retirement assets.

If you have not already selected your beneficiaries, or if you have experienced a life-changing event such as a marriage, divorce, birth of a child, or a death in the family, it’s time to consider your beneficiary designations. Fidelity’s Online Beneficiaries Service, available through Fidelity NetBenefits^®, offers a straightforward, convenient process that takes just minutes. Simply log on to NetBenefits^® at www.netbenefits.com/atwork and click on “Beneficiaries” in the About You section of Your Profile. If you do not have access to the Internet or prefer to complete your beneficiary information by paper form, please call 800-343-0860.

Receiving communication by email offers you greater convenience and will help you keep up to date on topics related to your retirement Plan. Log in to NetBenefits by going to www.netbenefits.com/atwork, then go to "Your Profile" and click on "email address." Enter your personal email address. Then, go to "Mail Preferences" to select what types of communications you would like to receive by email and what types of communications you would like to receive by regular mail.

To set up a confidential consultation with a Fidelity Representative, you may call Fidelity's reservation line at 800-642-7131 or visit www.fidelity.com/atwork/reservations.