Fidelity 403B Plan

Fidelity offers a supplemental retirement plan which provides employees with the opportunity
to invest money on a before tax or after tax (ROTH) basis, using payroll deduction.

The before tax aspect is what makes tax deferred annuities very attractive. Because
your taxable income is reduced, you can invest money and defer taxes. Participants
defer federal and state income tax on their contributions. In addition, interest or
earnings on your account accumulates tax-deferred. No taxes are paid on the account
until you begin withdrawing funds.

If you choose to invest money on an after tax basis or into what is called a ROTH
403(b) account, the money will come out of your paycheck after it has been taxed.
Therefore, distributions from the ROTH 403(b) will be tax-free for federal income
tax purposes if they are Qualified Distributions.

For more information about Fidelity, please visit their home page at or you may call their Customer Service at 1-800-343-0860.

EGTRRA (Economic Growth and Tax Relief Reconciliation Act) of 2002 allows for the
following contribution limits on tax-deferred annuities for 2023: $22,500.00 per year,
plus an additional $7500.00 for participants if they will be over age 50 by the end
of the calendar year of those older than 50. An additional catch-up provision may
also be available for employees with 15 years of service at the university.

Call (985)549-2057 for more information.