Page 24 - Remita Guide 2020 - NonCA FINAL

Fidelity | 401(k) Retirement Savings Plan
A consistent savings plan throughout your career is the foundation for security during your retirement years. Regardless
of where you decide to live or what you choose to do in retirement, savings in the Remita Health’s 401(k) plan can help
you get closer to achieving your goals. You can defer a percentage of your annual salary to IRS benefit maximums. If you
are 50 years old or older during the plan year, you may contribute a catch-up deferral.

401(k) IRS Maximums 2020 Who May Enroll
Elective Deferral $19,500 • All employees
Catch-Up Deferral (Age 50+) $6,500

Meet your financial goals by taking advantage of the following:
• Tax savings on pre-tax contributions
• Choice of investment funds
• Convenient payroll deductions

Please note that the IRS sets rules for when you can receive the funds from the plan. Before age 59½, you may withdraw
funds only in the case of permanent disability, financial hardship, severance of employment, or death. Any funds you
receive before age 59½ may be subject to current taxes and possibly a financial penalty.

You are able to borrow from your 401(k) at an interest rate of prime +2. The loan terms are as follows:
• Maximum of 1 loan
• $1,000 minimum/$50,000 maximum or 50% of your vested account balance
• Maximum loan term is 5 years for general use, 15 years for residential loans

Company Match The Company matches 50% of employee contribution each pay period up to a $2,000 annual
maximum. Please see 401(k) plan materials for vesting schedules or further details.

Managing Your 401(k)
You may change the amount you are contributing to your 401(k) and
your investment allocations at any time by logging on to the Fidelity
website at www.netbenefits.com. If you have any issues, please
contact Fidelity at (800) 294-4015.

It’s never too early or too late to start investing in your future. Even if you’re
in your 40s or 50s, there’s still time to build a significant nest egg for
retirement.