The Ascension Health Retirement Savings Plan. St. Mary s

Transcription

1 The Ascension Health Retirement Savings Plan St. Mary s

2 Our Name is Changing Diversified is the recordkeeper for the Ascension Health Retirement Savings Program. Diversified has long been focused on helping retirement savers like you fund their futures. But we're also part of the Transamerica family of companies and we think it's time to spread the word. So look for a new name, Transamerica Retirement Solutions, on your statements and plan materials in the coming months. What else is changing at Diversified? In a word: nothing. We'll continue to offer the interactive tools, reliable resources, and award-winning customer service you've come to expect. 2

3 Plan Highlights St. Mary s offers the Ascension Health Retirement Savings Plan, an important tool in your efforts to save and invest wisely for retirement. We strongly encourage you to review this information and enroll in the Plan! Participating is easy. Follow these simple steps: Step 1: Step 2: Step 3: Step 4: Step 5: Decide how much you wish to contribute Decide how you want your contributions invested Enroll and select your investment funds Complete a designation of beneficiaries form Keep your investment strategy current This material is designed to give you an overview of the Retirement Savings Plan features and the investment options available to you. If a discrepancy exists between the provisions found in this material and the legal Plan documents, the legal Plan documents will govern. 3

4 Easy Access to Services Diversified offers direct access to up-to-date information about your Retirement Savings Plan account. You can access services in several ways: divinvest.com At divinvest.com, you can access account information and investment performance and initiate selected transactions on your account 24 hours a day, seven days a week. Diversified Direct Online provides web-based investment modeling and retirement planning tools to help you create or modify your retirement strategy. Toll Free Access: You may access your account by calling Diversified Direct at , select Option 1 for automated voice response or Option 2 to speak with a Participant Counselor who will provide enrollment assistance, investment counseling, and retirement planning guidance Customer Service and Participant Counselors are available Monday through Friday, 8:00 a.m. to 9:00 p.m., ET. Customer service is available in 140 languages. Customer service for the hearing and speech impaired is available through TTY technology and a special toll-free number, Diversified On-Site Representative In addition, your Diversified On-Site Representative is available to assist you with enrollment, developing an investment strategy, and answering questions you may have as you develop a plan to reach your retirement goals. See your Human Resources Department for contact information for your On-Site Representative. Services available from Diversified Direct include: Account Information Account balances Recent transactions Loan information Withdrawal information Allocation information Investment Information Fund performance Investment Mix Sheets Interest rates Investment objectives Transactions Contribution changes Allocation changes Transfers between funds Loans Customer ID/Password changes Address/Phone changes 4

5 Step 1: Decide How Much to Contribute Decide how much you wish to contribute, considering tax rules for your contributions, how to maximize your employer match, and other considerations, such as the conditions under which you can withdraw your funds. If you need assistance, see Easy Access to Services. Who Can Participate in the Retirement Savings Plan Participation in the Plan is open to all employees of participating employers except leased employees and collective bargaining unit members, unless eligibility is agreed to under a Collectively Bargained Agreement. Entry Dates You may join the Plan on your first day of employment or re-employment, or any other date thereafter. Your Contributions to the Plan You may elect to defer a whole percentage of your salary to the Plan, or you may specify a whole dollar amount. You may choose to make before-tax contributions up to the IRS imposed maximum limit, but not in excess of 80 of earnings. An IRS dollar limit of $17,500 (which is subject to adjustment annually) applies to salary deferrals in Special catch-up provisions may allow you to contribute more. A catch-up contribution is available beginning with the Plan year in which you attain age 50. The maximum catch-up contribution is $5,500 in If you have at least 15 years of service, you may be eligible to make an additional catch-up contribution. Please contact your Diversified On-Site Representative for additional information. You may stop or resume your contributions at any time. You may increase or decrease the amount of your contributions at any time. Employer Matching Contributions The Plan provides for Employer Matching Contributions. You are eligible to receive Employer Matching Contributions on the first payroll period following your date of hire if you are regularly scheduled to work at least 40 hours per pay period. Your Employer Matching Contribution is an amount equal to: 50 of the first 6 of earnings deferred per payroll period. 5

6 Maximizing Your Employer Matching Contributions The manner and amount that you save in the Plan each pay period has an effect on the amount of employer matching contribution that you receive. Below are tips to help you maximize your employer matching contribution. Your Summary Plan Description also contains helpful information regarding your contributions and those from your employer. Tip #1 to maximize the match: Consider Saving a Percent of Pay. If you wish to maximize your employer match, consider saving a percent of your pay in the Retirement Savings Plan. By doing so, your savings amount will adjust based on your pay, but your employer match will be maximized. The Retirement Savings Plan allows you to choose a fixed dollar amount you wish to save, or you may choose to save a fixed percentage of pay. If you choose to save a fixed dollar amount each pay period, you may lose the opportunity to earn the maximum match. This can happen if the dollar amount you choose to save each pay period is less than the contribution required to receive the full match for that pay period. The maximum match is determined at each pay period there is no adjustment at year end. Tip #2 to maximize the match: Avoid Front-Loading Your Savings. If you wish to maximize your employer match, consider saving a fixed dollar amount each pay period based on the savings limit and number of pay periods during the calendar year. The Retirement Savings Plan allows for pre-tax savings up to $17,500 (under age 50 the entire year) and $23,000 (age 50 or higher) during If you elect to save the maximum amount and you do so before the end of the calendar year, you may lose match opportunity because you will not receive any employer match during pay periods in which you do not contribute to the Retirement Savings Plan. For example, if there are 26 pay periods in 2013 and the limit is $17,500, consider saving $ per pay period ($17,500 divided by 26). Alternatively, you may decide to save a fixed percentage of pay that will result in total savings close to, but less than, the annual limit. However, if you save a fixed percentage of pay, be sure to consider any special eligible earnings you may receive (e.g., performance bonus) because contributions attributable to this pay could cause you to save the maximum amount before the end of the calendar year. Note For associates whose annual pay exceeds $255,000 (updated annually) and associates who meet special catch-up deferral rules, special provisions apply. Please contact your Diversified On-Site Representative to discuss your options. 6

7 Other Employer Contributions Effective January 1, 2013, an annual Employer Automatic Contribution will be provided if you meet the eligibility requirements. You are initially eligible to receive an Employer Automatic Contribution the first calendar year in which you work at least 1,000 hours. If you have already completed one or more calendar years with a least 1,000 hours of service, you will automatically be considered an eligible participant on Jan. 1, Thereafter, to receive the annual contribution, you must either work at least 500 hours in a calendar year and be employed on December 31, or leave employment during the year due to retirement (employment termination at or after age 55 and 100 Vested) or death. The Employer Automatic Contribution will be deposited in your Individual Account after the end of the calendar year. The Employer Automatic Contribution is a percentage of earnings based on your years of Benefit Service: Years of Benefit Service Employer Automatic Contribution Less than 5 years 2.0 of earnings 5 9 years 2.5 of earnings years 3.0 of earnings 15 years or more 3.5 of earnings The minimum annual automatic contribution is $1,400 if you work at least 2,080 hours in a calendar year. If you work less than 2,080 hours, the minimum is $1,400 multiplied by a fraction equal to your actual hours divided by 2,080. You will receive the Employer Automatic Contribution regardless of whether or not you make before-tax contributions. You will need to choose investment funds for these contributions which will be in your 401(a) account. Vesting Vesting refers to your "ownership" of your account. You are always 100 vested in your contributions (including any rollover contributions you have made to the Plan), plus any earnings generated on those contributions. Employer Matching Contributions to the Plan, plus any earnings they generate, are subject to a vesting schedule*: Years of Service as defined by the Plan Vested Less than 3 years of service 0 3 years of service or more 100 *If you have one paid hour of service before Jan. 1, 2013, you are 100 vested in Employer Matching Contributions. Employer Automatic Contributions to the Plan, plus any earnings they generate, are subject to a vesting schedule: Years of Service as defined by the Plan Vested Less than 5 years of service 0 5 years of service or more 100 7

8 Other Considerations In deciding how much to contribute to the Retirement Savings Plan, consider that the Plan is designed to assist you in meeting your financial goals for retirement. Because the Plan is approved by the Internal Revenue Service, you must meet certain conditions before being approved for a loan or withdrawal of funds from your account. Participant Loans You may borrow from your personal before-tax contributions made to the Plan, using your account as security. Generally, you may borrow up to half of your vested 403(b) or 401(k) account balance, not to exceed $50,000. Other restrictions may apply. The minimum loan amount is $1,000. You may have no more than two outstanding loans per Plan at any given time. There is a six month waiting period between loans. A onetime loan fee of $75 per loan will be deducted from your account. An interest rate of Prime + 1 will apply. All loan repayments are made through payroll deduction. Loans are not available from your 401(a) account. This is the account that contains employer contributions such as Employer Matching Contributions, Employer Automatic Contributions, and/or Employer Discretionary Contributions. It may also contain employee rollovers, although you are encouraged to choose your 403(b) or 401(k) account for rollovers. Withdrawals Funds may be withdrawn from your Plan account in these events: Retirement at the Plan's normal retirement age After reaching age 59 ½ Death Termination of Employment Certain conditions of financial hardship (only certain qualifying events are available; only employee contributions may be withdrawn.) Funds attributable to rollover may be withdrawn at any time, except rollovers invested with VALIC before Jan. 1, Withdrawals prior to age 59 ½ are generally subject to a 10 federal excise tax. In-service transfers to funds outside of the Plan (commonly referred to as Contract Exchanges and/or Plan-to- Plan Transfers ) are not allowed. See your Summary Plan Description for more details about taking distributions from the Plan. Automatic Distribution of Small Benefits upon Employment Termination Upon termination of employment, you may elect to leave your savings in the Plan unless the vested account balances in your 403(b), 401(k) and 401(a) Plan accounts are each less than or equal to $5,000. If each of your vested Plan account balances are less than or equal to $5,000 as of the last day of the calendar quarter following your date of termination, you will be sent a notice asking you to designate the form of payment of your benefits. If you do not respond by the deadline, your benefit will be automatically rolled out of the Plan and into an Individual Retirement Account in your name. However, if the total vested balance in your 403(b), 401(k) and 401(a) Plan accounts combined is less than or equal to $200, the benefit will be paid to you in cash. You are not subject to the automatic distribution of small benefits if you: Have any one Plan account with a vested account balance greater than $5,000 Have an outstanding loan balance in the Plan You are an alternate payee or beneficiary (including minors) under the Plan You are age 65 or older You are receiving installment payments from the Plan 8

9 Step 2: Deciding How to Invest Your Contributions You decide how your employee and employer contributions will be invested, choosing from investment options -- Core Funds and a Brokerage Account -- available under the Plan. There are two approaches to investing in Core Funds: the Keep It Simple approach or the Do It Yourself approach. PortfolioXpress is designed for investors who want a simple, time saving approach. If you feel comfortable making more complex investment decisions, and want the ability and flexibility to make changes as you wish, you can create and manage your own retirement plan portfolio of Core Funds. A brokerage account is also available that will allow you to invest in a selection of over 1,200 mutual funds that may be of interest to you. Whether you re experienced or new to investing, there s an approach that can work well for you! Invest With Help 1PortfolioXpress is an asset allocation service available to all plan participants who want to invest with help and uses the Core Funds (listed below) available in the Plan, with the exception of the CNI Socially Responsible Equity I Fund. You may sign up for PortfolioXpress at divinvest.com. You may choose PortfolioXpress as the investment solution for any or all of your Plan accounts; that is, your personal before-tax contributions and earnings in your 403(b) or 401(k) Plan account, employer contributions and earnings in your 401(a) Plan account, or other Plan accounts that you may have. PortfolioXpress will establish an asset allocation (invest your money in a mix of stock, bond and stable value investments available in the Retirement Savings Plan) based on the target retirement year you designate. (If you do not designate a year, it will be set at the year you attain age 65.) Then PortfolioXpress will periodically rebalance (adjust your investment mix) as you move to and through retirement. When PortfolioXpress is turned on, 100 of your existing account balance (with the exception of any funds invested in a Schwab Personal Choice Retirement Account (PCRA) and all future contributions to your account will be allocated under the PortfolioXpress service. While PortfolioXpress is turned on, you may not direct any additional contributions to the Schwab PCRA. You must turn PortfolioXpress on separately for each plan account (403(b), 401(k) or 401(a)). If you turn PortfolioXpress off, your account will continue to be invested in the fund allocations last established under PortfolioXpress unless you select replacement funds. There is no charge for turning PortfolioXpress on or off. However, frequently turning the service on and off may trigger redemption fees or frequent trading restrictions. 1PortfolioXpress: This service presents a series of asset allocation models based on a designated retirement year. The participant is solely responsible for selecting the retirement year. In implementing the service, the participant agrees to each of the asset allocation mixes, and each of the automated rebalancing transactions that will take place over time within the account. For participants who do not designate a retirement year, Ascension Health will set their target retirement year as the year in which they attain age 65. Participants can change their target retirement year, or turn PortfolioXpress off, at any time. Although the PortfolioXpress service is offered at no additional cost, the participant will continue to bear the fees of the underlying funds in which the account is invested. Retirement date portfolios are subject to the same risks as the underlying asset classes in which they invest. The fund s asset allocation becomes more conservative over time, meaning that the percentage of assets allocated to stocks will decrease while the percentage of assets allocated to bonds will increase. The higher the portfolio s allocation to stocks, the greater the risk. The principal value of the portfolio is not guaranteed at any time, including at the target date. It is your responsibility, as a participant, to ensure that your investments are positioned to best meet your needs over the long term. You are encouraged to make investment decisions after considering all possible risks and within the context of your own goals and risk tolerance. 9

10 Invest on Your Own Create and Manage Your Own Portfolio The Plan also offers flexibility if you prefer to choose a particular fund or develop your own mix of funds and adjust the mix over time. You select specific Core Funds and/or the Schwab Personal Choice Retirement Account and choose an asset allocation strategy based on your goals and retirement time horizon. Sample investment mixes are offered to help you develop your own investment strategy, based on your time horizon for investing. These sample investment mixes are available from your On-Site Representative or online at Core Fund Asset Classes Stable Value Intermediate Term Bond Fund High Yield Bond Fund Large-Cap Value Stock Large-Cap Stock Index Large-Cap Growth Stock Large-Cap Value Stock, Socially Screened Mid-Cap Value Stock Mid-Cap Growth Small-Cap Stock Index Small-Cap Value Stock Small-Cap Growth Stock International Large-Cap Stock International Small/Mid-Cap Growth Stock Core Fund Options Guaranteed Pooled Fund PIMCO Total Return Institutional Fund Transamerica Partners Institutional High Yield Bond Fund Dodge & Cox Stock Fund Vanguard Institutional Index Institutional Plus Fund Principal Large Cap Growth Institutional I Fund CNI Socially Responsible Equity I Fund Transamerica Partners Institutional Mid Value Fund Harbor Mid Cap Growth Fund Adm Vanguard Small Cap Index Institutional Plus Fund Target Small Capitalization Value Fund Baron Small Cap Fund American Funds EuroPacific Growth Fund R4 DFA International Small Company I Fund Brokerage Account Schwab Personal Choice Retirement Account (PCRA) All registered funds are available by prospectus only. You should consider the investment objectives, risks, charges, expenses and other information in the prospectus before investing. Please read the prospectuses carefully before you make your investment choices. A prospectus may be obtained by contacting Diversified at The Guaranteed Pooled Fund is offered under the Plan through a group annuity contract issued by Transamerica Financial Life Insurance Company (TFLIC) 440 Mamaroneck Avenue, Harrison, NY The Fund s guarantee of principal and interest is based on the claims-paying ability or creditworthiness of TFLIC. TFLIC and Diversified are affiliated companies. Any non-diversified fund offered under the Plan is distributed by that particular fund s associated fund family and its affiliated broker-dealer or other broker-dealers with effective selling agreements such as Diversified Investors Securities Corp. (DISC), 440 Mamaroneck Avenue, Purchase, NY Securities purchased through the Schwab PCRA are available through Charles Schwab Co., Inc., Member SIPC. Commissions and transaction fees may apply to fund trades placed outside of Mutual Fund One Source or trades on other investment vehicles available through Schwab. Diversified will apply an annual fee for the PCRA of $50.00, which will be withdrawn from your account. Diversified, DISC and TFLIC are affiliated companies, but are not affiliated with Charles Schwab Co., Inc. or Ascension Health. 10

11 Schwab Personal Choice Retirement Account The Retirement Savings Plan seeks to provide tools and resources to help you create and maintain your investment strategy. To supplement your Core Fund investments, you may choose to open a Schwab Personal Choice Retirement Account (PCRA ), available through Charles Schwab & Co., Inc. ( Schwab ). PCRA is a self-directed investment option that allows you to direct purchases and sales of a wide array of mutual funds within your account. Individual stocks and bonds are not eligible investments under the Retirement Savings Plan. By establishing a PCRA, you assume responsibility for controlling your investments. Your retirement savings are essential to your financial future. Please be certain that managing your assets in a PCRA is the right choice for your longterm investment strategy. Diversified will apply an annual fee for PCRA of $50 which will be withdrawn from your account each January and at the time of account distribution, and will be assessed regardless of asset level. For additional information, you may request a copy of the Schwab Personal Choice Retirement Account information brochure (Form #8214) available from your Diversified On-Site Representative or by calling , select Option 2. A PCRA may be appropriate for you if: You have a sophisticated understanding of investment principles and the stock market. You have the resources to research and monitor your investments. You are comfortable with the additional risk associated with making investment decisions. You are willing to undertake any additional trading and maintenance costs that may apply. Opening your PCRA To open a Schwab Personal Choice Retirement Account (PCRA), call Diversified at , select Option 2, to obtain a Limited Power of Attorney form (LPOA). You may also open a Schwab PCRA at divinvest.com. Once you have completed, signed, and returned the LPOA to Diversified, your PCRA will be established and Schwab will send you a PCRA Welcome Kit and a confirmation letter with your investor account number. You will then be able to transfer assets from your Diversified account to your Schwab PCRA. Closing your PCRA To close your PCRA, your PCRA assets must be liquidated and then transferred to Diversified. Following the liquidation and transfer of your PCRA assets, you ll also need to contact Diversified to request that your account be closed. For a prospectus containing more information including management fees, charges and expenses, or to obtain a current commission schedule, visit or call Schwab at You should consider the investment objectives, risks, charges and expenses of the investment company before investing. Please read the prospectus carefully before you invest or send money. Securities purchases through the PCRA are available through Charles Schwab & Co., Inc., Member SIPC. Charles Schwab, Inc. is not a affiliated with Transamerica Financial Life Insurance Company (TFLIC) or Diversified Investors Securities Corp. (DISC). For Health Ministries sponsoring a 403(b) program, purchases are limited to mutual funds. You may trade many funds with no loads and no transaction fees through Schwab s Mutual Fund OneSource service. Certain funds in the Mutual Fund OneSource are available with no transaction fees, but have 12b-1 fees in excess of.25 and therefore cannot be called no-load funds. Commissions and transaction fees may apply to fund trades placed outside of Mutual Fund OneSource or trades on other investment vehicles available through Schwab. Securities purchased through the PCRA are available through Charles Schwab & Co., Inc., Member SIPC. 11

12 Fees What types of fees are charged in the Retirement Savings Plan? The two primary categories of fees in the Retirement Savings Plan are investment management fees and Administrative fees. In the Retirement Savings Plan, Ascension Health has separated Administrative and investment fees to better track, manage and communicate with associates. In addition, there are two individual fees that apply only to participants who use certain services. The Plan has an annual $50 fee for participation in the Schwab PCRA option and a $75 one-time transaction fee for each loan initiated from the Plan. What are investment management fees? Investment management fees pay for fund management, investment research and other investment related expenses. Investment management fees are a percentage of assets that you have invested in each fund. These fees differ by investment fund option and are highlighted as fund expense ratios in fund fact sheets and prospectuses. A team of investment professionals at both a leading benefits and investment consulting firm and Ascension Health selects and monitors the investment options. What are Administrative fees? Administrative fees in the Retirement Savings Plan are for core Plan services that are provided to all participants. Core Plan services include recordkeeping and other Plan services that impact all participants such as employee communication and education. Beginning Jan. 1, 2013, the Administrative fee is a percentage of assets charge of 0.15 of a participant s assets. The fee is posted to your account on the last business day of each month. As an example, if your account balance is $15,000 as of Jan. 1, 2013, the monthly Administrative fee that would be assessed for the month of January would be $1.88. Where can you get more information about Plan fees? A booklet of Fund Fact Sheets, included in your enrollment kit, contains one-page summaries and fee rates (expense ratios) for each fund. You can also log on to the Retirement Savings Plan Web site to access the Fund Fact Sheets. Each registered fund offered in the Retirement Savings Plan has a Prospectus that outlines the fees for that fund. Prospectuses may be obtained by calling , select Option 2. You may also discuss fees with your Diversified On-Site Representative (contact information available in your Human Resources Department or by calling the Customer Contact Center toll-free , select Option 2). 12

13 Step 3: Enrolling To enroll online, log on to divinvest.com, click on Sign In, and follow the prompts to enter your Social Security number and create a Customer ID and password. Proceed ahead and enter your contribution rate and investment fund elections. If your Health Ministry provides contributions, you ll also be asked to make investment fund elections for those contributions. You may also call , select Option 2, or contact the Diversified On-Site Representative at your location. When you go online or call, you ll need to enter your Social Security number and date of birth, so please have this information available. This form is a WORKSHEET to help you enroll in the Plan. This is not an election form and should not be turned in to Human Resources or sent to Diversified. Salary Deferral - You may elect to defer a whole percentage of your salary to the Plan, or you may specify a whole dollar amount. The information at divinvest.com can help you determine the deferral amount that is right for you based on your personal retirement goals. I plan to defer (whole percent) or (whole dollar amount) per payroll period. By enrolling, you will authorize your Health Ministry to withhold the amounts you select and deposit them in to the Retirement Savings Plan. SaveXpress SM - Many people decide to start small and gradually increase their contributions over time. Would it surprise you that many people plan to do that, but forget to go back and make the increase? With Diversified s SaveXpress SM service 1, you authorize automatic contribution increases once a year you set the amount and the timing. It s easy to sign up for SaveXpress when you enroll at divinvest.com. 1 You should evaluate your ability to continue the SaveXpress service in the event of a prolonged market decline, unexpected expenses, or an unforeseeable emergency. 13

14 Investment Allocation This worksheet may be helpful when you go online or call to authorize Plan contributions to be invested. You can use the information below to note your investment allocation for new deposits using whole percentages. You may choose options from either column below, or in combination. The total allocation among all options must equal 100. For a brief description of the funds, please turn to the section in this booklet titled Deciding How to Invest Your Contributions. Invest With Help PortfolioXpress To turn PortfolioXpress on, log in to your account at divinvest.com Invest on Your Own Select a Mix of Core Funds (Ticker) Fund Name (N/A) Guaranteed Pooled Fund (PTTRX) PIMCO Total Return Institutional Fund (DIHYX) Transamerica Partners Institutional High Yield Bond Fund (PLGIX) Principal Large Cap Growth Instl I Fund (AHSRX) CNI Socially Responsible Equity I Fund (VIIIX) Vanguard Institutional Index Instl Plus Fund (DODGX) Dodge & Cox Stock Fund (HRMGX) Harbor Mid Cap Growth Fund (TASVX) Target Small Capitalization Value Fund (VSCPX) Vanguard Small Cap Index Instl Plus Fund (DIMVX) Transamerica Partners Institutional Mid Value Fund (BSCFX) Baron Small Cap Fund (REREX) American Funds EuroPacific Growth Fund R4 (DFISX) DFA International Small Company I Fund TOTAL

15 Step 4: Designating your Beneficiary Every participant should complete a designation of beneficiaries form upon enrolling and when your situation changes. The Retirement Savings Plan recognizes only those beneficiary designations received by Diversified by mail or personal delivery. This means that any other beneficiary designations completed with another recordkeeper are not valid. In the event of your death without a Beneficiary Designation on file with Diversified, the proceeds of your Plan account will be paid to your spouse should you be married, or if not, to your estate. You can make your designation(s) by completing a Beneficiary Designation form and mailing to the address indicated on the form or delivering to your Diversified On-Site Representative. You may obtain Beneficiary Designation forms by visiting your Diversified On-Site Representative, logging onto divinvest.com, calling , Select Option 2, or contacting your local Human Resources office. If you are married and wish to designate someone other than your spouse as beneficiary, you must also obtain spousal consent. The spousal consent must be witnessed by a notary public or your authorized plan representative in your local Human Resources department. 15

16 Step 5: Keeping Your Investment Strategy Current Investment Direction You may change your investment allocations daily by going online, calling, or visiting with your Diversified On-site Representative. PortfolioXpress transactions may only be made online or with the assistance of your Diversified On-site Representative. Also watch for invitations to a variety of meetings and workshops that are offered from time to time to help you learn about investing and planning for your retirement years. Transfers If you have an existing eligible retirement Plan account with a prior employer, you may transfer or roll over that account into the Plan at any time. For complete details and limitations regarding rollovers, please see the Rollover Deposit Form or Plan to Plan Transfer deposit form included in the enrollment kit. These forms are also available from your Diversified On-site Representative who may assist you with the rollover or transfer process. Transfers may be subject to certain restrictions. Summary Plan Description These highlights represent only a brief overview of the Plan s features. Please refer to the Summary Plan Description, available from Human Resources, for more information about the specific Plan provisions. Descriptions of Plan features and benefits are subject to the Plan documents. These highlights do not constitute a legally binding document; the Plan documents will govern in the event of any inconsistencies. 16

17 Notes

18 8213-StMarysEvansville (11/12) Code: , , , &