Retirement

Eligibility
• 1st of month following 30 days from hire date
• At least 19 years old
• Work a minimum of 20 hours/week

Two types of retirement plans offered
• 403(b) Pre-tax traditional contributions
» Deducted from your pay before taxes
» Reduces current tax liability
• 403(b) Roth after-tax contributions
» Deducted from your pay with after-tax dollars
» Reduces future tax liability

Contributions
• You can contribute a percentage of your salary or a flat dollar amount.
• Employee maximum contribution limits for 2026:
» $24,500
» Plus, an additional $8,000 catch-up if age 50 or over
• Employer Match available upon enrollment
» Dollar for dollar of your contribution up to 4% of your salary

Vesting
• Vesting is the ownership of contributions made to your retirement account.
• You are 100% vested in all employee and employer contributions once deposited into your account.

Account Management
• Enrollment and account management is completed online at www.principal.com
• You will also receive quarterly statements in the mail unless you elect paperless statements.

Distributions
• While employed you can only receive distributions from your retirement account by:
» Loan
» In-service withdrawal after age 59 ½
» Hardship withdrawal if you meet certain criteria
• Some distributions may be subject to tax withholding and early withdrawal penalties