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Online Salary Reduction Agreement Overview

Greater Lawrence Technical School Employees: Elective Deferral Options for the 403(b) Plan

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Notice to Employees

Opportunity to Make Elective Deferrals to the Greater Lawrence Technical School 403(b) Plan

This is to notify you that if you are a Greater Lawrence Technical School employee, you are eligible to make a pre-tax elective deferral from your salary to the 403(b) Plan (the "Plan"). If the Plan permits aftertax Roth contributions, such elective deferrals may be designated as Roth contributions.

To make an elective contribution to the Plan, you must submit a Salary Reduction Agreement to the Plan’s Third Party Administrator, MidAmerica Administrative & Retirement Solutions. You may make, change, or stop such an election to contribute as often as you wish, and it will be effective on the date indicated on the Salary Reduction Agreement or the next payroll date after it is approved by MidAmerica.

Such elective contributions are subject to applicable Internal Revenue Code limits and the terms of the Plan. The contributions may be suspended for six months following a distribution to you from the Plan if you take a financial hardship withdrawal.

You can submit a Salary Reduction Agreement by logging in to the 403(b)/457 Participant Website at https://fe2.midamerica.biz/login.aspx.

If you are logging in for the first time, your username will be your Social Security number; your default password will be the last four digits of your Social Security number.

Once logged in, select the “Tutorials” icon located under the Popular Tools menu on the left-hand side of the webpage. From here, you have access to a library of educational videos and downloadable guides. Additional details on how to submit your Salary Reduction Agreement online are available through this library.

If you are a new participant, you may need to submit a Salary Reduction Agreement via hardcopy for your initial election. For a copy of the Salary Reduction Agreement or a summary of the Plan—or if you have any other questions—please contact MidAmerica Administrative & Retirement Solutions at (866) 873-4240 or visit their website at https://www.midamerica.biz/forms/participants/.

This Notice is to provide general information regarding availability of the Plan. You should consult with your own financial, tax, or legal advisor as to whether you should contribute to the Plan. Should there be any difference between the information in this Notice and the Plan, the terms of the Plan will control. The information in this Notice is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code or promoting, marketing, or recommending to any transaction or matter addressed herein.