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

If you have not enrolled in the Plan within 35 days from your eligibility, you will be automatically enrolled in the Plan at a contribution rate of 4% of your pretax eligible compensation.

Based on your date of birth and assuming a retirement age of 65, you will be invested in the Vanguard Target Retirement Trust I, with a corresponding target retirement date. Target Date Funds are an asset mix of stocks, bonds and other investments that automatically becomes more conservative as the fund approaches its target retirement date and beyond. Principal invested is not guaranteed.

We encourage you to take an active role in the Plan and to choose a contribution rate and investment options that are appropriate for you. If you do not wish to contribute to the Plan, you must change your contribution rate to 0% within the first 35 days of your eligibility. You may change your contribution rate at any time online, or by calling the Fidelity Retirement Benefits Line at 1-800-343-0860.

Enroll online at any time, or by calling the Fidelity Retirement Benefits Line at 1-800-343-0860.

Your enrollment becomes effective once you elect a deferral percentage, which initiates deduction of your contributions from your pay. These salary deductions will generally take one to two pay periods for the election to take effect.

Through automatic payroll deduction, you may contribute up to 100% of your eligible pay on a pretax and/or Roth basis, up to the annual IRS dollar limits. In addition, your retirement savings plan contributions automatically increase 1% each year, up to a maximum of 10%, through the Annual Increase Program. If you wish, you can sign up for annual increases to exceed 10% by logging on to Fidelity NetBenefits^® and clicking "Contribution Amount" or by calling the Fidelity Retirement Benefits Line at 1-800-343-0860.

A Roth contribution to your retirement savings plan allows you to make after-tax contributions and take any associated earnings completely tax free at retirement - as long as the distribution is a qualified one. A qualified distribution, in this case, is one that is taken at least five tax years after your first Roth 401(k) contribution and after you have attained age 59½, or become disabled or die. Starting in 2026, if your FICA wages from the prior calendar year with your current employer exceeded $150,000, any age 50 catch-up contributions to the Plan must be made as Roth contributions. If your FICA wages were $150,000 or less, you can designate your catch-up contribution to be pretax or Roth.

Find more information online within the "Plan & Learn" drop down and "Learn" section of NetBenefits^®.

Roth In-Plan Conversion options are available in The Queen’s Health Systems 401(k) Retirement Savings Plan. This option provides you with the opportunity to convert all, or a portion of your non-Roth assets to Roth assets. The amount eligible for conversion, may include all of a participant’s vested assets, including both eligible contributions and related earnings.

Special tax rules apply to Roth In-Plan Conversion options and are an important consideration in determining whether to do such a conversion. Generally, the taxable amount of a conversion is determined as if the converted assets were distributed to you from the Plan, although the assets will only be transferred to the Roth portion of your account and no amount will actually be paid from the Plan. The taxable amount (determined as if actually distributed to you) is taxable to you in the year of the conversion and should be reported on your income tax return for that year. For more information related to the tax consequence of a conversion, you should consult your tax or financial advisor before undertaking such a conversion. You may contact the Fidelity Retirement Benefits Line at 1-800-343-0860 to process a Roth In-Plan Conversion.

Call Fidelity at 1-800-343-0860. Representatives can answer your questions, review available opportunities for conversion, process a Roth In-Plan Conversion, or help you set up automated Roth In-Plan Conversions. Some of the benefits of setting up automated after-tax conversions:

- Simplifies the process by not having to remember to call Fidelity every time you want to convert.

- Limits your future tax consequences.

If you have reached age 50 or will reach 50 during the calendar year January 1 – 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 $8,000. Going forward, catch-up contribution limits will be subject to cost-of-living adjustments (COLAs) in $500 increments.

Starting in 2026, if your FICA wages from the prior calendar year with your current employer exceeded $150,000, any age 50 catch-up contributions to the Plan must be made as Roth contributions. If your FICA wages were $150,000 or less, you can designate your catch-up contribution to be pretax or Roth.

Starting in 2025, the SECURE 2.0 Act increases the limit for you if you have attained age 60, 61, 62, or 63 in a given calendar year. The limit for 2026 is $11,250.

For those under age 50 the IRS contribution limit for 2026 is $24,500. Employees who will be age 50 or over during the 2026 calendar year may contribute up to $32,500 in 2026.

The Queen’s Health Systems helps your retirement savings grow by matching your contributions. You can find more information related to eligibility, company match details, and nonelective contributions in the Summary Plan Description (SPD) or by contacting your HR Service Team.

You are fully vested in your contributions and company Match, once eligible, immediately.

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.

We encourage you to take an active role in The Queen’s Health Systems 401(k) Retirement Savings Plan and choose investment options that best suit your goals, time horizon, and risk tolerance. If you do not select specific investment options in the Plan, your contributions will be invested in the Vanguard Target Retirement Trust I with the target retirement date closest to the year you might retire, based on your current age and assuming a retirement age of 65, at the direction of The Queens Health Systems.

If no date of birth or an invalid date of birth is on file at Fidelity, your contributions may be invested in the Vanguard Target Retirement Income Trust I. More information about the Vanguard Target Retirement Trust I options can be found online.

Target Date Funds are an asset mix of stocks, bonds and other investments that automatically becomes more conservative as the fund approaches its target retirement date and beyond. Principal invested is not guaranteed.

Although your plan account is intended for the future, you may borrow from your account for various financial hardship reasons. Be sure you understand the Plan guidelines, associated fees, and impact of taking a loan before you initiate a loan from your plan account.

Learn more about and/or request a loan online, or by calling the Fidelity Retirement Benefits Line at 1-800-343-0860.

Withdrawals from the Plan are generally permitted when you terminate your employment, retire, reach age 59½, become permanently disabled, or have a severe financial hardship, as defined by your plan.

Learn more about and/or request a withdrawal online, or by calling the Fidelity Retirement Benefits Line at 1-800-343-0860.

You are permitted to roll over eligible pretax, after-tax and Roth 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 another 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.

Additional information can be obtained online, or by calling the Fidelity Retirement Benefits Line at 1-800-343-0860.

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, offers a straightforward, convenient process that takes just minutes. To make your elections, click on the “Profile & Settings” icon in the upper right-hand corner, then select “Beneficiaries” and follow the online instructions.

Beneficiary designations can be updated at any time.