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 4% of your pretax eligible earnings.

Based on your date of birth and assuming a retirement age of 65, you will be invested in the State Street Target Retirement Fund Class K, 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 days of your date of hire. You may change your contribution rate at any time online, or by calling Fidelity at 1-800-343-0860.

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

Your enrollment becomes effective once you elect a deferral percentage, which initiates deduction of your contributions from your pay. These salary deductions will generally begin with your next pay period after we receive your enrollment information, or as soon as administratively possible.

Through automatic payroll deductions, you may contribute between 1% and 85% of your eligible compensation as pretax contributions. You may also contribute between 1% and 60% of your after-tax compensation.

In addition, you can automatically increase your retirement savings plan contributions each year through the Annual Increase Program. This program increases your contributions 1% annually, to help to ensure continued progress toward meeting your future goals. You can opt out of the Annual Increase Program at any time online, or by calling the Fidelity at 1-800-343-0860.

Sign up online by accessing the “Contribution Amount” section on NetBenefits^®, or by calling Fidelity 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 may contribute between 1% and 85% of your eligible compensation as designated Roth contributions, up to the annual IRS dollar limits.

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

Roth In-Plan Conversion options are available in the UVA Community Health 403(b) Plan. This option provides you with the opportunity to convert all, or a portion of your non-Roth assets to Roth assets. The amount eligible for such direct rollovers shall include all of a participant’s vested assets, including without limitation, pretax savings, after-tax savings, company contributions, and retirement contributions, as well as related earnings thereon.

Special tax rules apply to Roth In-Plan Conversion options and are an important consideration in determining whether to do such a conversion. Generally, the taxable amount of a conversion is determined as if the converted assets were distributed to you from the Plan, although the assets will only be transferred to the Roth portion of your account and no amount will actually be paid from the Plan. The taxable amount (determined as if actually distributed to you) is taxable to you in the year of the conversion and should be reported on your income tax return for that year. For more information related to the tax consequence of a conversion, you should consult your tax or financial advisor before undertaking such a conversion. You may contact Fidelity at 1-800-343-0860 to process a Roth In-Plan Conversion.

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.

Starting in 2025, the SECURE 2.0 Act increases the limit for you if you have attained age 60, 61, 62, or 63 in a given calendar year. The limit for 2025 is $11,250.

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

The Plan helps your retirement savings grow by matching your contributions after you have been employed for one year.

UVA Community Health will match 100% of each pretax dollar you contribute on the first 6% of pay that you defer to your plan.

All pretax contributions (matching and nonmatching) and associated earnings are subject to taxes upon withdrawal.

You are always 100% vested in your own contributions to the UVA Community Health 403(b) Plan, as well as any earnings on them. You must complete 3 years of service during which you complete 1,000 hours of service to be vested in any contributions UVA Community Health makes to your plan account.

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 UVA Community 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 State Street Target Retirement Fund Class K 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 UVA Community Health.

If no date of birth or an invalid date of birth is on file at Fidelity, your contributions may be invested in the State Street Target Retirement Fund Class K. More information about the State Street Target Retirement Fund Class K 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.

If the idea of getting professional help to manage your investments appeals to you, your plan offers Target Date Funds. With Target Date Funds, the investment mix of stocks and bonds automatically becomes more conservative as the target retirement date approaches. Principal invested is not guaranteed at any time, including at or after the fund’s target date. Choose the fund that represents your anticipated year of retirement.

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 Fidelity at 1-800-343-0860.

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.

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

You are permitted to roll over eligible pretax and after-tax contributions from another 401(k) plan, Roth 401(k) plan, 401(a) plan, 403(b) plan, Roth 403(b) plan, a governmental 457(b) retirement plan, or a Roth 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.

Additional information can be obtained online, or by calling Fidelity 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 loans, exchanges, and more online. In particular, you can access loan modeling tools that illustrate the potential impact of a loan on the long-term growth of your account. You will also find 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 Fidelity at 1-800-343-0860.