You may enroll, change, or stop at any time you choose online at LincolnFinancial.com/Retirement or by calling Lincoln at 800-234-3500 8am to 8pm M-F.

Please note: This is a basic informational sheet for quick reference. It does NOT supersede any information in the Plan or the Summary Plan Description (found here), and in case of any discrepancy, the terms of the Plan shall govern.

• Participation date: immediate for deferrals; entry for matching contributions is immediately following attainment of age 18 and completion of 3 months of service with the company.
• Automatic Enrollment/Increase: Employees hired on or after 1/1/2025 will be auto enrolled in pre-tax at 4%. Auto Increase of 1% annually until reaches 15%. You may opt-out by changing your election to zero or any other amount at lincolnfinancial.com within 90 days of hire or re-hire date.
• Employee salary deferrals: pre-tax or after-tax (“Roth”); up to $23,000 for 2024 ($30,500 if age 50 or older by year-end); may change deferral percentage each payroll period.
• Employer matching contributions: The Employer will contribute a matching contribution equal to 4% of Plan Compensation. For an Employee to qualify for this match, the Employee must defer a MINIMUM of 4% of Plan compensation. If an Employee defers less than 4% of Plan compensation, the employee will not qualify for any Employer matching contribution.
• Compensation which is considered for plan purposes: gross pay, including the amount you contribute on a pre-tax basis to this plan. Pre-participation compensation is excluded.
• Vesting: your salary deferral and rollover contributions are 100% vested immediately. Other Employer contributions, including Match, are subject to a 4-year vesting schedule – less than 1 year, 0%; 1 year, 25%; 2 years, 50%; 3 years, 75%; 4 years, 100%.
• Investments: participant directed, from a group of investments selected by the Flex PepB Administrator.
• Rollover Contributions: permitted from all Participants.
• In-Service withdrawals: permitted if the Participant has attained age 59-1/2.
• Participant Loans: not allowed.
• Hardship Withdrawals: permitted from deferrals (employee contributions) only.
• Benefit Payments:
  • Timing: as soon as feasible following termination of employment
  • Form: lump sum; other forms of distribution as permitted under the specific investment accounts.

403(b) Lincoln Financial
LincolnFinancial.com/Retirement
800-234-3500

TJ Herlihy
Financial Advisor
Means Wealth Management

Guided by experience. Invested in you.

Ph: 207.947.6763
Ph: 800.696.3267
Fax: 207.947.8559
802 Stillwater Avenue, Bangor, Maine 04401

You may enroll, change, or stop at any time you choose by completing an enrollment form.

Please note: This is a basic informational sheet for quick reference. It does NOT supersede any information in the Plan or the Summary Plan Description (found here), and in case of any discrepancy, the terms of the Plan shall govern.

• Participation date: immediate for deferrals; entry for matching contributions is immediately following attainment of age 21 and completion of 12 months of service with the company (with minimum 1000 hours worked).
• Employee salary deferrals: pre-tax or after-tax (“Roth”); up to $23,000 for 2024 ($30,500 if age 50 or older by year-end); may change deferral percentage each payroll period.
• Employer matching contributions: The Employer will contribute a matching contribution equal to 4% of Plan Compensation. For an Employee to qualify for this match, the Employee must defer a MINIMUM of 4% of Plan compensation. If an Employee defers less than 4% of Plan compensation, the employee will not qualify for any Employer matching contribution.
• Compensation which is considered for plan purposes: gross pay, including the amount you contribute on a pre-tax basis to this plan. Pre-participation compensation is excluded.
• Vesting: your salary deferral and rollover contributions are 100% vested immediately. Other Employer contributions are subject to a 4-year vesting schedule – less than 1 year, 0%; 1 year, 25%; 2 years, 50%; 3 years, 75%; 4 years, 100%.
• Investments: participant directed, from a group of investments selected by the Employer/Plan Administrator.
• Rollover Contributions: permitted from all Participants.
• In-Service withdrawals: permitted if the Participant has attained age 59-1/2.
• Participant Loans: not allowed.
• Hardship Withdrawals: permitted from deferrals only.
• Benefit Payments:
  • Timing: as soon as feasible following termination of employment
  • Form: lump sum; other forms of distribution as permitted under the specific investment accounts.

futureplanningassoc.com

If you have questions please contact Shelly Duval at Future Planning Associates, Inc.

Shelly Duval
802.857.0686
shelly@futureplanningassoc.com

Bert Kingsley
bert.kingsley@creativeplanning.com