Page 25 - NRDC Benefits Guide for 2022

Retirement Savings

Are you on track to living the life you want after you stop working? Many experts
estimate that you'll need 85% of your annual pre-retirement income to meet expenses
each year post-retirement. Facing rising health care costs, inflation, and a retirement
that may last 30 years or more, you may need to save more to enjoy the retirement
lifestyle you desire.

NRDC is proud to bring you programs to help you achieve your retirement goals. As an employee of NRDC, you
have an opportunity to prepare for the future. You are eligible to participate in the 403(b)-retirement plan;
however, depending on your job category, you may be eligible to participate in the 457(b) plan. These Plans are
designed to help you invest more money today to help you have the income you need during your retirement
years. Consider making contributions and see how investing even a small amount can add up over time.

403(b) Plan Overview Through automatic payroll deductions, you may
contribute up to 100% of your eligible earnings into
The 403(b) Plan is a tax-deferred annuity plan that your 403(b) account. You will be able to make
allows you to save for retirement on a tax advantaged changes to your elective deferrals at any time.
basis. These advantages come in two ways:
contributions are tax-deferred and all interest and Auto Increase Program (AIP)
earnings on these contributions accumulate on a tax-
deferred basis. AIP allows you to increase your pre-tax or ROTH
contributions automatically each November 1. It is
We encourage you to take an active role in your an easy way to help keep yourself on track as you
retirement savings. Enroll in the Plan as soon as get closer to retirement. Small increases in your
possible and select the contribution rate and contributions may lead to wore benefits in
investment options appropriate for your savings retirement. NRDC will increase each employee's
strategy. However, if you have not enrolled in the contribution by 1%. The annual increase of 1% will
Plan 30 days after your hire date, you will be happen every November 1 until your deferral
automatically enrolled in one of the Lifecycle percentage reaches 10%. You can contact Fidelity
accounts based on your date of birth with a pre-tax to change your deferral amount, date, or to opt out.
contribution of 3%. If you do not want to participate in
the Plan, you have 30 days to opt-out of the 3% NRDC Non-Elective Contribution
automatic enrollment.
NRDC will make non-elective contributions each
You can also elect to participate in the ROTH option pay period, on behalf of each plan participant
with post-tax contributions. This ROTH option according to the table below.
provides the advantage of taking tax-free distributions
on your investments and earnings. Non-Elective Contribution Contribution Rate
beginning… per pay period
The maximum deferral contribution amount for 2022 When you reach six months 7% of eligible
is $20,500 ($27,000 if you are over age 50). of eligible service compensation

On the other hand, you may continue your retirement When you reach three years 9% of eligible
savings by opting for after-tax contributions after of eligible service compensation
reaching the deferral contribution limits above. After- When you reach five years 10% of eligible
Tax contributions have no contribution limit; however, of eligible service compensation
the total contribution to your account for 2022,
including all your contributions and NRDCs cannot
exceed $59,000 ($65,500 if you are over age 50).

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