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

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

To make changes after initial enrollment, log online, or call the Fidelity Retirement Benefits Line at 1-800-343-0860.

Your enrollment generally becomes effective the first day of the month following the month in which you enroll.

Through automatic payroll deductions, you may contribute up to 90% of your eligible compensation as pretax contributions.

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 $7,500. Going forward, catch-up contribution limits will be subject to cost-of-living adjustments (COLAs) in $500 increments.

You make catch-up contributions through payroll deduction, the same way you make regular contributions.

You may defer $23,500, the maximum IRS limit in 2025, which applies to all employee and employer contributions in all 457 plans in which you participate.

You are immediately 100% vested in your own contributions to the South Florida Water Management District 457(b) Plan 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.

We encourage you to take an active role in the South Florida Water Management District 457(b) 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 Fidelity Freedom^® Fund Class K6 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 South Florida Water Management District.

If no date of birth or an invalid date of birth is on file at Fidelity, your contributions may be invested in the Fidelity Freedom^® Income Fund Class K6. More information about the Fidelity Freedom^® Fund Class K6 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.

Fidelity’s online planning tools are designed to help you manage your assets as you plan for retirement.

Although your Plan is intended for the future,you may borrow from your account for any reason, as long as you have a minimum vested account balance of $2,000 at the time the loan is requested. Generally, the South Florida Water Management District Deferred Compensation Plan allows you to borrow up to 50% of your vested account balance. The minimum loan amount is $1,000, and a loan must not exceed $50,000. You then pay the money back into your account, plus interest, through automatic after-tax deductions that you can set up from your checking or savings account. Any outstanding loan balances over the previous 12 months may reduce the amount you have available to borrow. You may have one outstanding loan at a time and only one loan per year. The loan must be paid off in a maximum of five years, except in the case where the loan is to be used for a primary residence, in which case the repayment cannot exceed fifteen years.

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, have a unforeseeable emergency or the Plan is terminated. While you are employed by South Florida Water Management, you may withdraw your unmatched, after-tax contributions at any time if you are age 59.5 or older. This is called an “in-service” withdrawal. Keep in mind that withdrawals are subject to income taxes and possibly to early withdrawal penalties. Withdrawals are also permitted as Required Minimum Distributions (RMD).

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 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.

Contact your Fidelity Investments Representative 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, 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.