About the plan

You are immediately eligible to enroll in the plan.

Your enrollment in the plan is automatic, unless you actively enroll or decline participation within 30 days following your plan entry date.

You are always fully vested in your own contributions. You are also immediately fully vested in Prisma Health's discretionary matching contributions.

Employer non-elective contributions are fully vested after working at least 1,000 hours in three different plan years.

There will be an annual account fee of $10 deducted from your account.

Upon attainment of age 59½, you are entitled to withdraw all or a portion of your 403(b) deferral account balance.

If your employment ends, or you retire, become permanently disabled, or die, you or your beneficiary will have decisions to make regarding your vested account balance. Options may include making a lump-sum or systematic distribution, leaving your money in the plan, and moving or “rolling over” the money to another qualified plan. It is important that you understand your options before making a decision. In some instances, if you do nothing, Prudential will act according to plan instructions.

This plan receives a discretionary employer matching contribution, plus the 3% employer non‑elective contribution. The discretionary employer match will depend on Prisma Health’s financial performance during the previous calendar year. The amount may be 0% to 3%.

You are immediately eligible to enroll in the plan.

You may enroll at any time.

You are always fully vested in your own contributions. You are also fully vested in your discretionary matching contributions immediately. Non-elective contributions have a different vesting schedule. Full vesting is obtained after working 1,000 hours within three plan years.

There will be an annual account fee of $10 deducted from your account.

If your employment ends, or you retire, become permanently disabled, or die, you or your beneficiary will have decisions to make regarding your vested account balance. Options may include taking a lump-sum or systematic distribution, leaving your money in the plan, and moving or “rolling over” the money to another qualified plan. It is important that you understand your options before making a decision. In some instances, if you do nothing, Prudential will act in accordance with plan instructions.

This plan receives a discretionary employer matching contribution, plus the 3% employer non‑elective contribution. The discretionary employer match will depend on Prisma Health’s financial performance during the previous calendar year. The amount may be between 0% and 3%.

This plan is available to a select group of executives and physicians making over $135,000 in salary per calendar year. Individuals will be notified, if eligible, upon hire or in the following plan year.

First calendar month following receipt of eligibility offer. Mid-month entry for new employees may be allowed. The first of the following month is when all other contribution changes can be made.

• Your deferral must be a dollar amount.
• The IRS maximum limit for employer and employee contributions in 2023 is $22,500.

• The first of the following month is when contribution changes can be made.
• Establish your future investment allocations, and exchange investments at any time.

Contributions to the plan, including any attributable income resulting from your deferrals, are the property of the employer and subject to the claims of their general creditors until withdrawn.

Not permitted.

• Distribution of your account will be made annually beginning 60 days after year-end.
• Other methods of distribution include:
  • Lump sum
  • Installments over a period not exceeding life expectancy
  • A direct transfer to another 457(b) plan of a tax exempt employer
• A commencement date must be chosen within 60 days of the end of the year in which employment terminates.
• Distributions cannot be delayed past April 1 in the calendar year following the latter of attainment of age 72 or separation from employment.

You will elect your tax withholding by completing an IRS W-4 form.

Your account balance is paid to your beneficiaries, who are responsible for all taxes. If you don’t name a beneficiary, your account balance is paid to your spouse; otherwise, your children by representation; otherwise, your legal heirs. Call Prudential Retirement for details.