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403(b)/401(a) plan

Plan features

Welcome to the AnMed Health retirement plan. Click below to view the features and highlights of your employer’s retirement plan.

The plan highlights are only a brief overview of the plan's features and are not a legally binding document. The information in this section does not modify the terms of the plan and in the event of a conflict, the terms of the plan control.

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Employee contributions -- 403(b) plan

The plan is open to all employees with the exception of leased employees. 

All eligible employees can make pretax contributions to the plan immediately.

Employer contributions -- 401(a) plan

To participate in the employer basic contributions of the plan, employees must have completed one year of service as defined by the plan.  

To participate in the employer matching contributions portion of the plan, employees must have completed six months of service.

Starting early has its advantages

Employee contributions

All eligible employees can make pretax contributions to the plan immediately. Through payroll deduction, your plan allows you to make pretax contributions up to the maximum IRS contribution limit.

2024 contribution limit

Your contribution limit for 2024 is $23,000.

If you have an existing qualified retirement plan (after-tax) or 403(b) tax-deferred arrangement account with a prior employer, you can transfer or roll over that account into the plan on becoming a participant in the plan.

Important considerations before deciding to move funds either into or out of a Corebridge Retirement Services account
There are many things to consider. For starters, you will want to carefully review and compare your existing account and the new account, including: fees and charges; guarantees and benefits; and, any limitations under either of the accounts. Also, you will want to know whether a surrender of your current account could result in charges. Your financial professional can help you review these and other important considerations. Consult a tax professional before making a decision to move funds either into or out of a Corebridge account.

Stop or change contributions

You may stop your contributions anytime. Once you discontinue contributions, you may only start again as provided under the terms of the plan.

You can increase or decrease the amount of your contributions anytime.

Employer contributions
The plan also provides for AnMed Health to make contributions.

  • AnMed Health will make employer basic contributions to the AnMed Health 401(a) plan. 
  • AnMed Health will also make matching contributions equal to 25% of your pretax contributions up to 4% of eligible compensation.

Vesting is a participant’s right of ownership to the money in his or her plan account. You are always 100% vested in employee contributions, rollover contributions, match contributions plus any earnings they generate.

Employer basic contributions to the plan, plus any earnings they generate, are vested as follows: 

Vesting schedule

Years of vesting serviceVesting percentage
Less than 3 
3 or more100%

Employer matching contributions to the plan, plus any earnings they generate, are fully and immediately vested.

Accessing your money before retirement

Money can be withdrawn from the plan in these events:

For 401(a) plan

  • Hardship (employer matching account only)
  • Severance from employment
  • Death

   For 403(b) plan

  • Hardship
  • Attaining age 59½
  • Severance from employment
  • Death
  • Rollover account available for distribution at any time

Income taxes are payable upon withdrawal. Federal restrictions and a 10% federal early withdrawal penalty may apply if taken before age 59½. Be sure to talk with your tax advisor before withdrawing any money from your plan account.

In addition, the Internal Revenue Service (IRS) requires you to take Required Minimum Distribution (RMD) withdrawals from your retirement account(s) annually beginning the year you reach the RMD eligible age. RMD eligible age is:

  • Age 73 if you were born January 1, 1951, or later (The RMD eligible age will increase to age 75 after December 31, 2032)
  • Age 72 if you were born after June 30, 1949, and before January 1, 1951 (For individuals turning age 72 in 2023, no RMD payment is required in 2023)
  • Age 70 ½ if you were born before July 1, 1949.

Hardship withdrawals
If you have an immediate financial need created by severe hardship and you lack other reasonably available resources to meet that need, you may be eligible to receive a hardship withdrawal. In both plans, hardships are permitted for the benefit of the primary beneficiary. A hardship may include:

  • Purchase of a principal residence
  • College tuition and approved related expenses for you, your spouse or dependents
  • Non-reimbursable medical and/or dental expenses for you, your spouse or dependents
  • Payment to prevent eviction from or foreclosure on your principal residence
  • Payment for burial or funeral expenses for your deceased parent, spouse or children
  • Payment for expenses for the repair of your principal residence

The 403(b) plan permits hardship withdrawals from the salary deferral account. The 401(a) plan permits hardship withdrawals from the employer matching account.

If you feel you are facing a financial hardship, you should see your financial professional for more details.


  • The plan is intended to help you put aside money for your retirement. However, AnMed Health has included a plan feature that enables you to access money from the plan. All loans may be repaid over time.
  • The amount the plan can loan to you is limited by rules under the tax law. All loans will be limited to the lesser of: one-half of your vested account balance or $50,000.
  • The minimum loan amount is $1,000.
  • All loans must generally be repaid within five years.
  • You can have one loan outstanding at a time.
  • You pay interest back to your account. The interest rate on your loan will be the Prime Rate plus 1%.
  • A $50 processing fee for all new loans and a $30 per year loan maintenance fee are charged to your account.

Other requirements and limits must be met prior to borrowing money from your account. For additional information regarding loans, please see your financial professional. Refer to the Summary Plan Description for more details about this participant loan feature.

An array of investment choices

Available funds & performance

The following mutual funds and the Fixed-Interest Option are available in your retirement plan. They provide you with the flexibility you need to help create a suitably diversified portfolio that matches your personal retirement time horizon, investment risk tolerance and investment preferences.

To view or print a prospectus, access “Prospectuses and Other Important Materials.” The prospectus contains the investment objectives, risks, charges, expenses and other information about the respective investment companies that you should consider carefully before investing. Please read the prospectus carefully before investing or sending money. You can also request a copy by calling 1.800.428.2542.

Fixed-interest transfer restrictions

Generally, you may transfer assets from the Fixed-Interest Option into equity options at any time and, after 90 days, from equity options into another fixed income option such as a money market fund, a stable-value fund or certain short term bond funds, if such competing options are allowed in the plan. 

Administrative charges

An effective annual charge of 0.17% will be assessed on mutual fund assets in the plan for which administrative services are provided. See the "Revenue Sharing Policy" in the back of this guide for information on how mutual funds impact your administrative charges. This does not apply to the Fixed-Interest Option. Additionally, Fund Annual Operating Expenses apply depending on the mutual fund chosen and are described in the prospectus.

A 1360713 (3/2024)