Retirement Plan

Regardless of what retirement means to you now—or will mean when you get there—just about everybody worries about the same thing: financial security.

However, few people enjoy a comfortable retirement by accident. It takes careful thought and planning, based on one’s own situation. Even small amounts of money invested regularly over your career can provide a significant financial resource at retirement.

HUC-JIR, through its 403(b) Plan, helps you meet your retirement goals in two ways:

• By providing a base of financial security through the Base Contribution that HUC-JIR makes on your behalf, and
• By making it possible for you to save additional amounts on a tax-advantaged basis (Voluntary Contributions).  HUC-JIR will match a portion of this amount.

Eligibility for Voluntary Contributions	Regular full-time employees You can enroll at the start of a quarter, and make changes at any time (no service requirement)
Voluntary Contributions	Pre-Tax 403(b) – Tax-deferred Voluntary Contributions are deducted from your gross wages before amounts are taken out for income taxes and deductions.
Voluntary Contribution Limits	The Maximum Contribution Limit for 2023 has increased to $22,500. • Anyone age 50 or older by the end of 2023 has a catch-up option of $7,500. The max is $30,000 1. Eligible employees earning $50,000 or less: basic employer contribution of 5% of base pay, plus a 100% matching contribution up to an additional 2% of earnings. 2. Eligible employees earning over $50,000: basic employer contribution of 4% of base pay, plus a 100% matching contribution up to an additional 3% of earnings.
HUC-JIR Base Contribution	HUC-JIR contributes the equivalent 4% or 5% of your base pay (dependent on set parameters).
HUC-JIR Matching Contribution	HUC-JIR matches up 2% or 3% of your base pay (dependent on set parameters).
Parsonage Allowance	Withdrawals used for parsonage/housing allowance may be tax free. Inform the Fidelity representative that you are requesting a Parsonage Distribution.
403(b)Investment Options	Faculty/staff decide how contributions are invested among a selection of professionally managed funds. For investment option details, visit Fidelity at www.netbenefits.com.

To enroll, change investments, change your beneficiaries, and to view your account visit Fidelity at www.netbenefits.com.