Page 22 - 2024 Employee Benefits Guide

TXM Retirement Savings Plan

The Texas Mutual Retirement Savings Plan (“Plan”) is designed to
provide regular employees who are benefit eligible with a means of
accumulating savings for retirement. These savings can be invested in a
variety of mutual funds available through the Plan. The Plan is qualified
under the Internal Revenue Code.

Retirement savings plan summary
If you are a Texas Mutual benefit eligible employee, you will receive an
employer contribution to your retirement savings account in an amount
equal to 4% of your eligible compensation each pay period. You’ll receive
an additional 4% contribution if your compensation exceeds the Social
Security Wage Base (the compensation limit that is subject to Social
Security taxes).
Texas Mutual also offers a generous match on your contributions to the
Plan. TXM will match 100% of each $1.00 you contribute, up to and
including 6% of your eligible compensation each pay period. Severance,
car allowance, rewards, and relocation expenses are types of
compensation excluded from the retirement contribution calculation.

You may elect to contribute from one to 75 percent of your eligible
compensation each pay period, subject to Plan and IRS limits. Your
contribution can be made as a pre-tax 401(k) deferral with tax-deferred
investment growth and/or as an after-tax Roth 401(k) deferral with the
potential for tax free investment growth.

Newly hired benefit eligible employees will be automatically enrolled
to make a 6% pre-tax 401(k) deferral employee contribution until they
elect otherwise.
To select your investment strategy, please contact Fidelity Investments
directly at fidelity.com/atwork or call (800) 343-0860. If you do not
provide investment instructions, your contributions will be invested in
one of the Fidelity Freedom Funds (refer to the default investment
notice on the intranet).

Starting / changing / stopping contributions
To start, change or stop your contributions, please contact Fidelity
Investments directly at fidelity.com/atwork or call (800) 343-0860.
You may change or stop your employee contributions at any time
(changes will be effective in the first full pay period following your
change date).

Student loan resource
Texas Mutual provides for a matching contribution to the Plan based on
qualified student loan payments you make in lieu of making an employee
contribution. For additional information and details, refer to the Student
Loan Payment Match Program article on TXM Today.
Retirement plan beneficiaries

To name or update your Plan beneficiary, please contact Fidelity
Investments directly at fidelity.com/atwork or call (800) 343-0860.

18 2024 Employee Benefits Guide