In order to be eligible for the 403(b) Retirement Plan and receive the College's contribution, an employee must have one year of service with the College and have worked 1,000 hours. In addition, you must be employed in a position that is eligible for 403(b) contributions. Temporary employees and adjunct professors are not eligible for 403(b) contributions.

If you were eligible to receive employer contributions under a 403(b) retirement plan maintained by a prior employer within the one-year period immediately preceding employment at Davidson College, the one year waiting period may be waived. To secure such a waiver you must complete the “Verification of 403(b) Retirement Plan Eligibility Form” and submit a pay stub or attestation from former employer.

Although you are automatically enrolled in the Davidson TDA Plan, you are not automatically enrolled in the Davidson College 403(b) Retirement Plan. Still, you may take these steps for both plans even if you are not yet eligible for the Davidson College 403(b) Retirement Plan:

1. Ensure your contributions are set to your desired percentage.
2. Select either Fidelity or TIAA as your provider.
3. Choose your investment options.
4. Consider consolidating retirement savings (optional).

To enroll online visit www.netbenefits.com/davidson, or by calling the Fidelity Retirement Benefits Line at 800-343-0860, and TIAA at 800-842-2252.

Your personal retirement plan contributions are directed to the TDA Plan. The 403(b) Retirement Plan is for contributions from Davidson College to your retirement account.

Davidson College will contribute the following:

• 9.5% on the portion of compensation within the Social Security Earnings Base regardless of your participation to the TDA Plan.
• 12.5% on any compensation above the current annual Social Security Earnings Base.

You are 100% vested in the College's contributions and any earnings on them after you have completed 3 years of service. You must have worked 1,000 service hours each year.

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 Davidson College 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 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 Davidson College.

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.

Loans are not available in this Plan.

Withdrawals from the Plan are generally permitted when you terminate your employment, Required Minimum Distributions (RMDs), become permanently disabled, as defined by your plan.

The taxable portion of your withdrawal that is eligible for rollover into an individual retirement account (IRA) or another employer's retirement plan is subject to 20% mandatory federal income tax withholding, unless it is rolled directly over to an IRA or another employer plan. (You may owe more or less when you file your income taxes.) 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.

Please contact your investment service provider directly for more information on taking a withdrawal from your plan.

Fidelity Investments: Call 800-343-0860 or Log in to your account by entering your username and password at the top of the website.

TIAA: Call 800-842-2252 or Log in to your account by clicking the drop down box at the top of the page under Your Account and change the page from Fidelity to TIAA.

The Plan Document and current tax laws and regulations will govern in case of a discrepancy. Be sure you understand the tax consequences and your plan's rules for distributions before you initiate a distribution. You may want to consult your tax adviser about your situation.

If you have retirement savings in another employer's plan or in an IRA, consolidating accounts may help make it easier to manage your savings but there are several options. Be sure to consider all your available options and the applicable fees and features of each before moving your retirement assets.

If you're not sure about the best option for you, talk to a Fidelity or TIAA representative today. They can explain each option in greater detail so you can make the best choice for your specific needs.

Fidelity: Call 800-343-0860 or log in to your account by entering your username and password at the top of this website.

TIAA: Call 800-842-2252 or log in to your account by selecting TIAA in the drop down box at the top of the page under Your Account and follow the prompts to the TIAA website.

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.

If you have an account with TIAA, you will need to contact TIAA directly to update your beneficiaries by clicking on the drop down box at the top of the page under Your Account and change the page from Fidelity to TIAA or call 800-842-2252.

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 800-343-0860.

Now is a great time to schedule an appointment to discuss your goals for retirement.

For confidential consultations with Fidelity, call 800-343-0860 or go online at https://nb.fidelity.com/public/nb/davidson/contactus/schedule-ameeting.

For confidential consultations with TIAA, call 800-732-8353 or go online at https://www.tiaa.org/public/support/contacttiaa/
consultations-seminars

The third parties mentioned herein and Fidelity Investments are independent entities and are not legally affiliated.