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 HERE, then click on the “Profile” link, then select “Beneficiaries” and follow the online instructions.

• A 403b tax deferred annuity is a retirement savings program that allows eligible HSHS colleagues to set aside a portion of their income on a pre-tax basis.
• It is also known as a Tax Sheltered Annuity (TSA).
• This reduces current federal income taxes, and, in most states, state income tax.
• The 403b retirement plan is a convenient way to save for retirement through payroll deduction and offers flexible options for receiving your money when you retire.

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 can contribute between 0% and 100% of your eligible pay as designated Roth contributions, up to the annual IRS dollar limits.

• Access Fidelity NetBenefits NetBenefits.com/atwork to review all the information provided to assist you in making your investment decisions.
• You may also contact Fidelity at 800-343-0860 and ask to speak to an investment representative.
• You can also research the funds on your own or with your financial advisor.

Your 403(b) Plan account grows through:

• Your contributions- up to 100% of your pay up to IRS limits ($23,000 in 2024, or $30,500 if age 50 or older)
• HSHS matching contributions - 50 cents for every dollar you contribute up to 4% of your pay (subject to IRS limits, $345,000 in 2024)
• Investment earnings

You are always fully vested (100%) in all contributions.

• To encourage early investing and simplify the 403(b) Plan enrollment process, all eligible HSHS colleagues hired or rehired with HSHS on or after July 1, 2014 are enrolled automatically at a 4% of pay contribution level after 60 days of employment.
• Unless you choose otherwise, your contribution level will continue to increase by 1% each year until you’re eventually contributing 8% of your pay.
• These automatic contributions will be invested in the Vanguard Target Retirement Funds based on your date of birth, unless you choose different investment options.
• You can increase, decrease, or stop your contributions at any time.

• HSHS contributes 50 cents for every dollar you contribute on the first 4% of your eligible pay (pay shown on your W-2 statement plus any pre-tax contributions you make for benefits, including the 403(b) Plan; subject to IRS limits, $345,000 in 2024). 
• Contributions that are made in each calendar year in which you are paid for at least 1,000 hours are matched, as long as you are actively employed on December 31 of that year.
• The maximum match you can receive in a calendar year is 2% of eligible pay.
• Colleagues terminating employment during the year due to death, disability, or after reaching age 55 are also eligible to receive matching contributions.

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

For calendar year 2024, the maximum elective contributions are:

• For a participant who is under age 50, the maximum contribution is $23,000.
• For a participant who is age 50+, the maximum contribution is $30,500.