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 date of hire, you will be automatically enrolled in the Plan at a contribution rate of 5% of your pretax eligible compensation.

Based on your date of birth and assuming a retirement age of 65, you will be invested in the American Funds Target Date Retirement Fund^® Class R-6, 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 calendar days of your employment. You may change your contribution rate at any time online, or by calling the Fidelity Retirement Benefits Line at 1-800-343-0860.

To enroll on your own, please visit www.netbenefits.com/overlake and click on Enroll Today. You will be guided through a quick and easy enrollment process.

Your enrollment becomes effective after 35 days of being hired or within two pay periods after your enrollment. This initiates the automatic 5% pretax deduction from your pay.

Newly hired employees are automatically enrolled in the the Overlake Hospital Medical Center 403(b) Retirement Plan at five percent (5%), with the option of increasing, decreasing or opting out within 35 days. Newly hired employees are automatically enrolled on a pretax basis only.

Through automatic payroll deduction, you may contribute up to 75% of your eligible pay on a combined pretax and/or Roth basis, up to the annual IRS dollar limits. You can contribute in whole percentage amounts in the Plan. In addition, unless you direct otherwise, your contribution amount will automatically increase 1% each year from your date of hire or adjusted date of hire, through the Annual Increase Program until you reach a maximum of 10%. You can change your automatic annual increase by logging on to Fidelity NetBenefits^® and click on "Contribution Amount" or by calling the Fidelity Retirement Benefits Line at 1-800-343-0860. You can also withdraw from the program at any time.

The Annual Increase Program (AIP) is a convenient way to automatically increase your employee contributions each year. Through AIP your contributions automatically increase by 1% each year on the anniversary of your date of hire or adjusted date of hire, unless you choose otherwise. Increases through the Annual Increase Program are capped at 10% pretax deduction from your pay. You may opt out of the program at any time.

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.

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

As long as you have reached or will reach age 50 by year end and are making the maximum plan or IRS contribution, you may make an additional catch-up contribution each pay period. Going forward, catch-up contribution limits will be subject to cost-of-living adjustments (COLAs) in $500 increments.

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 and lifetime catch-up contributions, 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.

The IRS contribution limit for 2025 is $23,500.

The Plan helps your retirement savings grow by matching your contributions.

Overlake will match dollar for dollar up to 5% of each pretax and/or Roth dollar you contribute for employees who have been employed for less than 5 years and after 5 years of service, the match increases to dollar for dollar on the first 7% of pay that you defer to the Plan.

You will need to earn 1,000 hours of credited service in a payroll calendar year.

You are immediately 100% vested in your contributions and your Employer's matching contributions, 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 Overlake Hospital Medical Center 403(b) Retirement 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 American Funds Target Date Retirement Fund^® Class R-6 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 Overlake.

If no date of birth or an invalid date of birth is on file at Fidelity, your contributions may be invested in the American Funds 2010 Target Date Retirement Fund^® Class R-6. More information about the American Funds Target Date Retirement Fund^® Class R-6 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.

Loans are not available in this Plan.

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.

When you leave Overlake, you can withdraw contributions and any associated earnings or, if your vested account balance is greater than $7,000, you can leave contributions and any associated earnings in the Plan. After you leave Overlake, if your vested account balance is less than $1,000, it will be distributed to you. If your vested account balance is more than $1,000 but less than $7,000, the Plan will distribute your account to you in the form of an IRA rollover. These actions will be taken automatically unless you contact Fidelity and request a distribution in the form of a lump sum rollover.

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 contributions from another 403(b) plan or a 401(a) 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.

Learn about exchanges, withdrawals, and more online. In particular, you can access a withdrawal modeling tool, which shows the amount of federal income taxes and early withdrawal penalties you might pay, along with the amount of earnings you could potentially lose by taking a withdrawal. Additional information can be obtained by calling the Fidelity Retirement Benefits Line at 1-800-343-0860.