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

Contact OPPD Human Capital Service Center at 402-636-3111 to make your initial contribution elections. OPPD will forward this information to Fidelity. Then, you will need to set up your investment mix and complete your enrollment in the Plans online, or by calling the Fidelity Retirement Service Center at 1-800-343-0860.

Your Plans' administrative fees are charged separately from the investment-related fees. Plan administrative fees may include recordkeeping, accounting, trustee, and other administrative fees and expenses associated with maintaining the Plans. In each plan, a participant with a balance equal to or greater than $10,000 will pay a fixed plan administration fee of $145 per year, deducted at $36.25 each quarter from your account.

Through automatic payroll deduction, you may contribute a percentage (1%-100% of your net check) or a dollar amount of your eligible pay on a pretax basis, up to the annual IRS dollar limits. You may change your contribution amount anytime through OPPD PeopleSoft Self Service.

The maximum contribution for the 457(b) Plan is the total amount of your contribution and the District match, not to exceed 100% of your salary or the annual contribution limit ($23,000 for 2024), whichever is less.

The maximum contribution for the 401(k) Plan is the total amount of your contribution not to exceed 100% of your salary or the annual contribution limit ($23,000 for 2024), whichever is less.

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.

Your enrollment becomes effective once you elect a deferral percentage, which initiates deduction of your contributions from your pay.

Omaha Public Power District helps your retirement savings grow by matching your contributions.

Your Employer will match 100% of the first $150 per payroll, plus 50% of compensation in excess of $150 not in excess of 6%. The maximum Employer match is $4,000 for 2018. Match is calculated on a per-pay-period basis. Employees have the option to split the Employer match between their Health Savings Account (HSA) and the 457 or 401(k) plan.

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. Your beneficiary elections at Fidelity only apply to the 401(k) and 457 Plans. To make changes to your Pension and Life Insurance beneficiaries, please contact OPPD Human Capital Service Center at 402-636-3111.

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 OPPD 401(k) and 457 Plans 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 Target Investment Strategy 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 OPPD.

If no date of birth or an invalid date of birth is on file at Fidelity, your contributions may be invested in the Target Income Fund. More information about the Target Investment Strategy 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.

You are immediately 100% vested in your own contributions to the OPPD 401(k) and 457 Plans, as well as in any of the organization’s matching contributions and any earnings on them.

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 Service Center at 1-800-343-0860.

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

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

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) or 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.

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

You should consult your tax adviser and carefully consider the impact of making a rollover contribution to your Employer’s plans because it could affect your eligibility for future special tax treatments.

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

The Regency Group of Wells Fargo provides a local team of Financial Advisors who are available to assist you with your investment needs and general financial education. The Regency Group provides:

• Education Services including assistance with evaluating and choosing investments for your Retirement Savings Plans.
• Financial Planning Services including Retirement, College and Estate planning
• Communication Services such as on site workshops, one on one consultations and individual planning sessions at local offices.

You can reach the Regency Group by calling the dedicated OPPD Hotline at 402-445-6464 or 1-877-333-7318. You can also email them at theregencygroup@wfadvisors.com or visit their website at www.theregencygroup.wfadv.com.

The Regency Group of Wells Fargo and Fidelity Investments are not affiliated.