You are eligible to participate in your plan effective immediately.

The Internal Revenue Code limits the amount you can contribute to pre-tax dollars each calendar year. The federal tax law general limit for 2025 is $23,500.

The 403(b) catch-up contribution rules permit employees aged 50 or older to increase their maximum contribution amount by an additional $7,500 in 2025. Elective contributions may not exceed 100% of your compensation and there is an overall limit on aggregate contributions (including employer and employee contributions) that can be made to your employer's plan. The catch-up contribution limitation is increased to $11,250 during the years that you are age 60 to 63, potentially bringing your total to $34,750, if the plan allows.

Additional catch-up provisions under a 403(b) plan may be available for employees who have completed at least 15 years of service with certain eligible employers (e.g., schools, healthcare). The additional 403(b) life-time catch-up limit is $15,000, the catch-up amount that can be contributed in any one year may not exceed $3,000, and the catch-up amount for any year further depends on the years of service and the amount of contributions in prior years. If you have questions about these limits, please contact your plan administrator.

A Roth 403(b) allows after-tax contributions, meaning taxes are paid before the money goes into the account. Qualified withdrawals in retirement, including contributions and earnings, are tax-free if certain conditions are met (being at least 59½ years old and having held the account for at least five years). This is attractive for individuals expecting to be in a higher tax bracket in retirement.

If you have an existing retirement plan account with a prior employer or a traditional IRA, you may be able to roll over all or some of that account into this plan once you enroll. Or, if you have a retirement plan account with your current employer that you are no longer contributing to and your plan permits, you may consolidate those assets into this new plan as well.  Complete this Abbott House Transfer In Request Form to make these changes.

Yes! We offer a variety of financial workshops designed to help you build confidence and knowledge in managing your finances. Additionally, you’ll have opportunities to connect with experienced financial professionals for guidance and support. Register for upcoming workshops here.

Loans are permitted. The amount you may borrow is limited by rules under the Internal Revenue Code, your employer's plan, and must be repaid within five years unless used for the purchase of a primary residence. All loans will be based on your account balance. Please note, these loan limits apply on a combined basis to the highest loan balance in the past year under all retirement accounts with the same employer. If you have any questions, please contact your employer.

Under Internal Revenue Code limitations, the maximum allowable outstanding loan balance is the lesser of 50% of your vested plan account balance or $50,000. Your remaining account balance secures your loan. Please note, these loan limits apply on a combined basis to the highest loan balance in the past year under all retirement plan accounts with the same employer. Your employer's plan may have additional restrictions. If you have any questions, please contact your employer.

Since your plan is designed primarily to help you save for retirement, the Internal Revenue Code (IRC) has placed restrictions on when money may be withdrawn from your plan account before you retire. Money may be withdrawn from your plan account under the following circumstances, in accordance with your employer's plan document:

• Termination of Employment
• Disability (Subject to IRC requirements)
• Death
• In-Service Withdrawals (As defined by your plan)
• Hardship (Subject to IRC requirements)

Always consult your tax advisor or investment professional about the income tax consequences of any withdrawals. Ordinary federal income taxes generally apply (unless distributed from Roth accounts qualifying for tax-free distributions). State income taxes may also apply. Distributions before age 59½ may be subject to an additional 10 percent tax penalty, unless an exception applies.

An annual plan administrative fee of 41 basis points (or 0.41%) on Fund assets in your plan account will be charged to your Mutual Fund Select Portfolios (MFSP) account in quarterly installments. This fee may be offset by Fund compensation MetLife* receives quarterly with respect to plan assets. If this is the case, your MFSP account will be charged the administrative fee and credited with the Fund compensation received by MetLife.

Go to www.metlife.com/enrollnow to get started. You'll need your plan sponsor number, which is: 1009850-01.

You can obtain information and make transactions through either the website at www.mlr.metlife.com  download the MetLife Retirement app from your favorite app store or the toll-free telephone number at 1-800-543-2520. Also, each quarter, you will receive a personal account statement with a detailed summary of all activity.

Before you begin, please have your beneficiary’s name, tax ID or social security number, and address handy. Please complete this Abbott House Beneficiary Form contingent beneficiary, Please read this flyer for more information on the importance of keeping your beneficiary designations up-to-date.