Adventist Retirement Plan Enrollment and Plan Information, September 13, 2017

Adventist Retirement Plan
Enrollment Eligibility and Plan Information

Union College, September 13, 2017

The Adventist Retirement Plan (ARP) was established to provide contributions by employer and employee so that at retirement age, employees will have a retirement asset which when combined with other savings and Social Security income will be able to generate adequate retirement income.

Employees eligible to participate must be at least 20 years of age. Students working for an educational institution, temporary employees, adjunct professors, non-resident aliens, and individuals who have taken approved leaves of absences in order to pursue a course of graduate study are not eligible to participate.Eligible, regular status,part-time employees working 20 or more hours and eligible, regular status,full-time employees working 38 or more hours per week are eligible for both Employer Basic and Matching Contributions.

  • EmployerBasic Contribution—an amount equal to 5% of an eligible employee’s compensation
  • Employer Matching Contribution—an amount that will be matched proportionately up to a maximum of 100% of an employee’s 3% contribution

Notes:

  • Employer/employee contributions are automatically vested.
  • An employee may discontinue contributing to the Plan at any time and resume contributions again later. They may also increase or decrease contributions at any time as allowable by federal law and the Plan document.
  • For salaried employees, contributions are calculated on base pay only.

Effective September 14, 2017, all eligible employees will be auto-enrolled into the Plan at a 3% contribution amount. That means that 3% of your base-payearnings, before withholdings, will be automatically contributed to your Empower Retirement account. In addition, every July, your contribution percentage will automatically increase by 1% on a yearly basis until you reach 7%. At that time, the automated increases will stop.

If you do not want to participate in the Plan, you will have 90 days from the date of your first payroll check to opt out. To do so, you will need to access your Empower Retirement account online or contact Empower Retirement by phone. When you opt out, your contributions will be returned to you and you will receive a 1099 from Empower Retirement at the end of the year for tax purposes. In addition, any employer matching contributions made during this time will be returned to Union College.After day 90, you will only be able to opt out for future contributions.

If at any time you want to change the percentage amount that you are contributing, you will need to access your account on the Empower Retirement website or contact Empower Retirement by phone:800-701-8255 (Monday – Friday, 7:00am – 6:00pm Mountain Time).

You will need to set up an online account with Empower Retirement for at least two very important reasons: 1. To access your account information, make investment elections and monitor your account contributions; and 2. To set up your beneficiaries. It is your responsibility to ensure that if something happens to you, you have appropriately designated who should receive these funds. To set up your account and access additional information regarding the Plan (your account will be accessible 15 days after your first payroll check has been issued):

  1. Go to
  2. Click on the green “Register” button.
  3. Follow the prompts to create your account.

On the Empower Retirement website, you will find important information andtools designed to help you manage your account and plan for retirement. Please note, if youdo not designate investment elections, all contributions will be invested in the default investment option as selected by the ARP Board. You can also access additional Plan information at

While the North American Division has contracted with Empower Retirement to administer retirement accounts and provide financial advice in the management of retirement investments, employees are advised to consult with a representative for financial advice on how to invest retirement funds. Empower Retirement offers Advisory Services (NOTE: fees may apply); and, employees may also consult with any broker or adviser of their choice regarding investment decisions. However, the Conference and the North American Division have not and will not advise employees as to investments and does not guarantee any results of investments. It is important for employees to read and understand the description and prospectus for any investment prior to making it. Employees may contact The KeyTalk customer service phone number for Empower Retirement for more information: 800-701-8255 (Monday – Friday, 7:00am – 6:00pm Mountain Time).

Please read and initial each line and sign/date at the bottom of the form:

I have read and understand the information presented above regarding the Adventist Retirement Plan.
I understand that I will be auto-enrolled at a 3% contribution amount as stated above.
I understand that my contributions will be auto-escalated each July until I am at a contribution amount of 7%.
I understand that I can view and change my investment options at any time and if I want to change my contribution amounts, I must do so directly through Empower Retirement.
I understand that I only have 90 days from my first payroll date in order to opt out and have initial contributions returned to me.
I understand that it is my responsibility to designate my beneficiaries by logging on to my account with Empower Retirement.
I understand and acknowledge that I am responsible for reviewing and selecting my investment options. I understand any eligible contributions I receive will be automatically invested in the Target Maturity Model for my age bracket until I select my investment options.

______
Employee SignatureDate

Please make a copy of this document for your records.
Union College Human Resources 402-486-2897.