403(b) plan
Plan details
Welcome to your 403(b) 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.
Take advantage today
You are immediately eligible upon employment to start making elective deferrals to the plan.
- You are eligible to participate in the plan for purposes of employer contributions on the later of the first anniversary of your date of hire or completion of 1,000 hours of service.
- Employees who normally work fewer than 20 hours per week and employees covered by certain collective bargaining agreements are not eligible to participate in the plan for purposes of employer contributions.
- To be eligible to receive the annual employer matching contribution, you must have completed 1,000 hours of service during the year. The 1,000 hours of service does not apply in the year in which you terminate employment.
Starting early has its advantages
Your contributions
Catch-up contributions
Additional contributions are available if you meet certain requirements. Ask your financial professional for more information.
Employer matching contributions
For each $1 you contribute, Dialysis Clinic, Inc. will contribute $.50 of elective deferrals that do not exceed 8% of your salary.
Stop/change contributions
You may change your contribution amount or discontinue contributing to your plan at any time and resume contributing again later, subject to your employer's plan provisions. In the meantime, your account will continue to grow on a tax-deferred basis.
Vesting
Vesting is a participant’s right of ownership to the money in his or her plan account. You are always 100% vested in the contributions you make to your account. You will be 100% vested in Dialysis Clinic, Inc.'s contributions after three years of vesting service.
Accessing your money before retirement
Distribution options
The retirement plan allows in-service withdrawals only in the following circumstances:
- From your employee contributions in the case of hardship, when you attain age 59½ or separate from service.
- From your employer's matching contributions when you attain age 59½ or separate from service
- From your employer's basic contributions when you attain age 62 or separate from service.
Your plan was established to encourage long-term savings, so withdrawals prior to age 59½ might be subject to federal restrictions and a 10% federal tax penalty. The following are some events upon which you may withdraw vested amounts without incurring a 10% federal tax penalty:
- Attaining age 59½.
- Separation from service at or after age 55.
- Your death or total disability.
- Taking substantially equal payments after separation from service for a period of five years or attainment of age 59½, whichever is later.
- Qualified birth or adoption withdrawal within one year from the date of birth or adoption.
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.
Separation from service
Depending on your employer's plan provisions, your withdrawal options include:
- Transferring your vested account balance over to another tax-advantaged plan that accepts rollovers
- Receiving systematic or partial withdrawals
- Taking a lump-sum distribution
- Choosing one of the many annuity options available from Corebridge Retirement Services, inside the plan or via rollover.
- Taking the Required Minimum Distributions when required by law
Generally, income taxes must be paid on all amounts you withdraw from your plan. Consult your financial professional for more specific information.
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.
Tax-free loans
Tax-free loans make it possible for you to access your account without permanently reducing your account balance. Defaulted loan amounts (not repaid on time) will be taxed as ordinary income and may be subject to a 10% federal tax penalty if you are younger than age 59½.
An array of investment choices
Performance
The following mutual funds are available in your retirement plan. They provide you with the flexibility you need to create a suitably diversified portfolio that matches your personal retirement time horizon, investment risk tolerance and investment preferences.
- Mutual funds: View the entire list of funds and performance.
- Annuity: View the entire list of funds and performance. (Please note: It may take a few minutes to load the performance.)
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.
To obtain a Portfolio Director prospectus and underlying fund prospectuses, visit corebridgefinancial.com/retirementservices or call 1.800.428.2542 and follow the prompts. The prospectuses contain the investment objectives, risks, charges, expenses and other information about the respective investment company that you should consider carefully before investing. Please read the prospectuses carefully before investing or sending money. Policy Form Series UIT-194, UITG-194 and UITG-194P.
RO2767020(03/2023)