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

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

Your enrollment generally becomes effective on the second pay period following the month that you enroll.

Through automatic payroll deduction, you may contribute up to 99% of your gross annual salary, up to the annual IRS dollar limits.

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 contribution and after you have attained age 59½, or become disabled or die.

Find more information online within the “Library” section of NetBenefits^®.

You may defer $23,500, the maximum IRS limit in 2025, which applies to all employee and employer contributions in all 457 plans in which you participate.

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 pretax 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. In lieu of this $7,500 catch up contribution, you may defer up to twice the standard IRS contribution limit during the three years preceding normal retirement. Additional limitations may apply depending on contributions made in prior years. For more information, please contact a Fidelity Representative. You may use only one of the catch-up provisions (age 50 or regular) in a given year.

You are always 100% vested in your own contributions to the City of Dallas 457 Plan, as well as 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
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 City of Dallas 457 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 Fidelity Freedom^® 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 City of Dallas.

If no date of birth or an invalid date of birth is on file at Fidelity, your contributions may be invested in the Fidelity Freedom^® Income Fund Class K. More information about the Fidelity Freedom^® 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. Generally, the City of Dallas 457 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 after-tax payroll deductions within five years. If the loan is used to finance the purchase of a primary residence, you will have 20 years to pay back the loan. Any outstanding loan balances over the previous 12 months may reduce the amount you have available to borrow. You may have no more than two loans outstanding at any given time. The cost to initiate a loan is $35.00, and there is a quarterly maintenance fee of $3.75. 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. Defaulted loans may also impact your eligibility to request additional loans. Be sure you understand the plan guidelines and impact of taking a loan before initiating a loan from your plan account.

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 or have an unforeseen emergency as defined by your Plan. An inservice withdrawal may also be available to you if you have not previously made an in-service withdrawal, have not made any deferrals to your plan for two years, and your account balance is less that $5,000. Keep in mind that withdrawals are subject to income taxes.

You are permitted to roll over eligible contributions from another 401(k) plan, 401(a) plan, 457(b), or 403(b) plan, or an IRA.

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.

The Employer has appointed Fidelity to provide additional information on the investment options available through the Plan. For information on your investment options, including Fidelity BrokerageLink^®, please contact Fidelity. Additional fees may apply to Brokerage Link. You may request a fact sheet and commission schedule from Fidelity for a complete listing of brokerage fees. Also, a statement of your account may be requested by phone at 1-800-343-0860 or reviewed online.