You are immediately eligible to enroll in the Plan, and you are encouraged to sign up as soon as possible. Please note, employer matching contributions will not begin until you have met the match eligibility criteria.

Enroll online at any time, 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 403(b) contribution and after you have attained age 59½, or become disabled or die. Through automatic payroll deduction, you can contribute between 1% and 100% of your eligible pay as designated Roth contributions, up to the annual IRS dollar limits.

Through automatic payroll deduction, you can contribute between 1% and 100% of your eligible pay on a pretax or after-tax (Roth) basis, up to the annual IRS dollar limits. Sign up online by accessing the “Contribution Amount” section on NetBenefits^®, or by calling the Fidelity Retirement Benefits Line at 1-800-343-0860.

The IRS contribution limit for 2024 is $23,000.

To help you determine which contribution type is right for you, review the Roth plan highlight.

Your eligibility for employer match begins on the January 1, April 1, July 1 or October 1 after you have completed 12 months of employment (and) earned 1,000 or more hours of service in that 12-month period. Lakeland Regional Health will make an employer matching contribution of 50% on up to 6% of all compensation you contribute to the Plan. For example:

Employee contribution (%)	Employer matching contribution (%)
1%	0.5%
2%	1%
3%	1.5%
4%	2%
5%	2.5%
6% (or more)	3%

Contributions will be calculated on a bi-weekly basis. You will not see the employer contributions in your account bi-weekly as they are funded on an annual basis. Contributions are subject to the vesting rules outlined later in this resource. Also, the employer match is averaged. Therefore, changing your contributions up and down throughout the year could impact the amount of your employer matching contributions.

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” link, then select “Beneficiaries” and follow the online instructions.

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 Lakeland Regional Health 403(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 Vanguard Target Retirement Fund 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 Lakeland Regional Health.

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 Fund. More information about the Vanguard Target Retirement Fund 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.

There are two types of catch-up contribution options. First, as long as long as you have reached or will reach "age 50" by year end and are making the maximum plan or IRS pretax contribution, you may make an additional "catch-up" contribution each pay period. Catch-up contribution limits are determined by the IRS and will be subject to cost of living adjustments (COLAs) in $500 increments. Second, if you have 15 years or more of work experience and have contributed less than $5,000 a year, on average, to your retirement savings plan, you may be able to make additional "lifetime catch-up" contributions to your plan, allowing you to contribute up to a maximum of $3,000 per year, up to a maximum lifetime benefit of $15,000. Please note, in order to receive the maximum benefit from the "age 50" option and the "lifetime catch-up" option, the "lifetime catch-up" limit for a calendar year ($3,000) must be used before the "age 50 + catch-up" is applied. Please consult your tax advisor for additional information.

You are always 100% vested in your own contributions to the Lakeland Regional Health 403(b) Plan. LRH’s matching contributions and any earnings vest after three years of vesting service.*

* For each Plan year (January 1 through December 31) that you work at least 1,000 hours, you will be credited with one year of vesting service.

Although your plan account is intended for the future, you may borrow from your account for any reason.

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, as defined by your plan.

Rollover balances are eligible for distribution from the Plan at any time. Keep in mind that withdrawals are subject to income taxes and possibly to early withdrawal penalties.

You are permitted to roll over eligible pretax or Roth contributions from another 401(k) or a 403(b) plan account or eligible pretax or Roth contributions from conduit Individual Retirement Accounts (rollover IRAs) and certain non-conduit individual retirement accounts (traditional IRAs, Simplified Employee Pension plans, and "SIMPLE" IRA distributions made more than two years from the date you first participated in the SIMPLE IRA). 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.