Benefits Orientation RCAB 401(k) Plan Roman Catholic Archdiocese of Boston Lay Benefits Office Congratulations on your new position! As a benefit-eligible employee, a variety of benefits are available to you through the Archdiocese of Boston Benefit Trusts. This presentation will provide you with basic plan information and options available to you as a new hire or newly benefit eligible employee.

RCAB 401(k) Retirement Plan Contributions can begin as of first paycheck Contributions can be made on a pre-tax or Roth after-tax basis Contributions can be made as a % of pay or specific dollar amount per pay period Newly hired employees will be automatically enrolled at 3% on a pre-tax basis if no election is made within 45 days from date of hire More information is available – www.bostoncatholicbenefits.org/401k Contributions to the Archdiocese 401k plan can begin as early your 1st paycheck. You can elect to have contributions made on a pre-tax or Roth basis and as either a percentage of your pay or as a specific dollar amount per pay period. Employees newly hired with a participating employer will automatically enrolled in the 401k Plan with a 3% pre-tax deferral on the first paycheck on or after 45 days from your date of hire. A detailed legal notice explaining the automatic enrollment, including the option to waive participation, will be mailed to you soon after your hire date. Contribution amounts can be updated at any time using the Salary Deferral Form, pictured here, which is available on our website.

401(k) Matching Contributions Matching contributions will begin following 1 year of continuous benefit-eligible service Match is equal to 100% of the first 3% of compensation contributed plus 50% of the next 2% contributed. Contribute at least 5% to receive the maximum match of 4% Employer matching contributions begin following one year of continuous benefit-eligible service. Prior service as a benefit-eligible employee with an Archdiocese of Boston location may count toward this waiting period. Please contact the Benefits Office for additional information on the waiting period. The matching contribution is an amount equal to 100% of the first 3% of employee contributions PLUS 50% of the next 2% of employee contributions. To receive the maximum match of 4%, employee contributions should be at least 5% per pay period. All employer contributions are immediately vested. The employer contribution is reviewed annually and may change.

401(k) Additional Information Rollover funds from other retirement plans are accepted Loans and hardship withdrawals are available Log in to your TIAA account to: Review and change your investment options Designate a beneficiary Free Financial Counseling Sessions are available from TIAA www.bostoncatholicbenefits.org/401k or www.tiaa.org A few extra points regarding the 401k plan worth noting include the following: Rollover funds from other retirement plans are accepted into the Plan. Loans are available from pre-tax deferrals and rollovers. Hardship Withdrawals are also available under certain circumstances. Finally, a variety of investment options are available, including a Catholic values fund. If investment elections are not made, employee deferrals and employer matching funds will be invested in a target date fund that is tied to each employee’s estimated retirement date. Once you have begun deferring money into the 401(k) Plan, you will receive a welcome packet from TIAA with your account number and instructions on how to log in to the TIAA site. Through the TIAA site, you should review your investment options and make any changes desired. You should also designate a beneficiary for your account. Lastly, free financial counseling sessions are available with TIAA staff periodically at locations around the Archdiocese of Boston. Please visit our Boston Catholic Benefits website for additional information and forms.

Questions? Contact the Archdiocese Benefits Office Website: www.bostoncatholicbenefits.org Phone: 617-746-5640 Fax: 617-779-4567 E-Mail: benefits@rcab.org Thank you for reviewing this important information about benefits available to you. Please contact us at the Archdiocese Benefits Office if you have any questions or concerns regarding any of the Archdiocese benefit plans.