72 RETIREMENT SAVINGS 401(a) & 403(b) Retirement Plans At-a-Glance 401(a) RETIREMENT SAVINGS PLAN 403(b) PLAN Eligibility • Age 21 and six months of service. • Immediately eligible to participate. Enrollment • 1% automatic enrollment. • Existing employees who previously opted out can enroll at any time via NetBenefits or by calling the Fidelity Retirement Service Center. • Rehires who previously satisfied the eligibility requirements are automatically enrolled 30 days following rehire. • Online via NetBenefits or call the Fidelity Retirement Service Center. Contribution Limits • Contributions from 1% to 60% of your eligible pay.* (Employees considered highly compensated by the IRS are limited to contributions of 3% of pay.) • Contributions from 1% to 80% of your pay up to $23,500 in 2025. • Employees age 50 and above can contribute an additional $7,500 in 2025. • Employees ages 60-63 can contribute an additional $3,750 in 2025. Employee Contributions • After-tax contributions. • Traditional pre-tax contributions. • Roth after-tax contributions. Employer Contributions • Matching contributions based upon total years of service: — 0–9 years = 3% match based on a 3% employee after-tax contribution. — 10–14 years = 4% match based on a 3% employee after-tax contribution. — 15–19 years = 5% match based on a 3% employee after-tax contribution. — 20+ years = 6% match based on a 3% employee after-tax contribution. • 1% annual contribution based on eligible pay. • Must be employed on last day of the calendar year to receive the employer matching contributions and the 1% annual contribution. • Eligible employees who retire on/after the attainment of age 65 (and are not employed on December 31) will receive matching and annual contributions. • No Scripps contributions. Vesting • 100% vested in employee contributions, as well as any associated earnings. • Employer matching and annual contributions and any associated investment earnings on them vest according to the following schedule: — 1 Year: 25% — 2 Years: 50% — 3 Years: 100% • 100% vested in employee contributions as well as any investment earnings. Loans • Not allowed. • Loans are permitted. • Initiate loans online in NetBenefits or call the Fidelity Retirement Service Center. Withdrawals** • Allowable upon termination of employment, retirement, permanent disability, or death. • In-service withdrawals of employee account permitted at any time. • In-service withdrawals of total vested account balance allowable at age 62. • Allowable upon termination of employment, retirement, permanent disability, or death. • In-service withdrawals of pre-tax and Roth accounts allowed upon attainment of age 59 1/2. • Distribution of Roth contributions and associated earnings are tax-free if qualified. • Hardship withdrawals permitted. Rollovers • You are permitted to roll over eligible balances from a previous employer’s plan. • You are permitted to roll over eligible balances from a previous employer’s plan. * Annual additions to the 401(a) plan (your contributions and Scripps Health’s contributions combined) may not exceed 100% of your pay or $70,000 for 2025 (whichever is less). Check www.netbenefits.com or call Fidelity at 800-343-0860 for 2026 limit updates. ** For non-Roth contributions and associated earnings, any assets distributed from your 403(b) plan will be taxed as ordinary income in the year withdrawn. If you are under age 59 1/2 at the time of the distribution, a 10% early withdrawal penalty may apply to any non-Roth amounts withdrawn. If the distribution is eligible to be rolled over, but is not directly rolled over to an eligible plan or IRA, 20% mandatory withholding of federal income tax applies. Be sure you understand the federal and state tax consequences of any distribution before you initiate one. You may wish to consult your tax advisor about your situation.
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