Eligibility for enrollment is based on position held and begins immediately or following a 3-year wait.

For details visit https://www.purdue.edu/hr/Benefits/retirees/index.php.

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 Purdue University 403(b) Defined Contribution Base 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 Purdue University.

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.

Although your Plan account is intended for the future, you may borrow from your account for several reasons.

Generally, the 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 payments from your bank account. You may have only one loan outstanding at a time.

Any outstanding loan balances over the previous 12 months may reduce the amount you have available to borrow. The cost to initiate a loan is $50, and there is a quarterly maintenance fee of $6.25. The initiation and maintenance fees will be deducted directly from your individual Plan account. If you fail to repay your loan (based on the original terms of the loan), it will be considered in "default" and treated as a distribution, making it subject to income tax and possibly a 10% early withdrawal penalty. If you default on a loan from the Plan, you will not be able to request a new loan in the future. Be sure you understand the Plan guidelines and impact of taking a loan before you initiate a loan from your Plan account.

Learn more or model a loan before making a request. Go to www.NetBenefits.com > Quick Links > Loans & Withdrawals or call Fidelity Investments Service Center at 800-343-0860.

Withdrawals from the Plan are generally permitted when you terminate your employment, retire, or reach age 59½.

Distributions are subject to a mandatory 20% federal tax withholding and if applicable, mandatory state taxes unless you are rolling over all or a portion of your account into an individual retirement account (IRA) or another employer’s retirement Plan. The rollover portion is not subject to taxes until a distribution is made from the account. If you are under age 59½, the taxable portion of your withdrawal is also subject to a 10% early withdrawal penalty, unless you qualify for an exception to this rule.

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

Learn more or model a withdrawal before making a request. Go to www.NetBenefits.com > Quick Links > Loans & Withdrawals or call Fidelity Investments Service Center at 800-343-0860.

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.