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Essentia-Health-401K-403B-Plan.Pdf Helping you pursue the future you want The Essentia Health Retirement Plan 401(k) and Essentia Health 403(b) Plan are moving to Empower Retirement. Effective January 4, 2021 Your future in the making Welcome to Empower Retirement. Your journey is about to begin. You’re all set You don’t need to do anything right This booklet is intended to help you understand what to expect during the transition now unless you want to make of the Essentia Health Retirement Plan 401(k) and the Essentia Health 403(b) to changes to your account(s). Once Empower Retirement. In addition, below are a few things that you will have the ability to the transfer is complete, you will do after the transition is complete: receive a notice from Empower. • An enhanced mobile-friendly website providing 24-hour access to your account and Special note: service representatives who are ready to assist you, weekdays from 7 a.m. to 9 p.m. You are receiving this notice Central time, and Saturdays from 8 a.m. to 4:30 p.m. Central time because you have a balance in one or both of these named retirement • Innovative tools to help you maximize your retirement benefit including plans. Please read through this Retirement planning tools to calculate your estimated monthly retirement income document for information on the with a Lifetime Income ScoreSM and Health Cost Estimator that shows healthcare transition of your account(s) to costs at different ages in retirement based on your personalized data Empower Retirement. • A user-friendly and cutting-edge platform for overall financial wellness and retirement planning with easy-to-understand investment performance and education materials • Commitment to high levels of transaction accuracy and cybersecurity We’ve got your back As you continue to plan for a successful future, we’re here to help. Let us know if you have any questions about your plan, or if you need to make updates to your account. Get more information about the transition online at essentiahealthretirement.com or by calling 833-543-4343. Mark your calendar December 17, 2020, at 3 p.m. Central Deadline to conduct self-directed brokerage transactions in/out of your Schwab PCRA account This is the last day to conduct transactions between Transamerica and your Schwab PCRA account before the transition. December 23, 2020, at 3 p.m. Central time Transition period begins This is the last day to conduct transactions with Transamerica. This includes enrollment, investment changes, contribution rate changes, beneficiar y updates, loans, withdrawals, and submission of any completed paperwork for transactions to be processed in your overall account before the transition to Empower. You will have limited access to your account(s). This “blackout period” will give us time to transfer your plan’s administrative records to Empower Retirement (see the Important notice section of this document for details). Payroll deductions will continue during the blackout period and any scheduled Januar y 1 automatic increases to your contribution rate will take effect with the first pay period in Januar y. Week of January 10, 2021 Transition period is expected to end Once the blackout period has ended, you will have full access to your account online and by phone. TIP We recommend evaluating your retirement planning, as well as your overall financial plan, before the blackout period begins so you can be prepared E-Delivery and E-Consent information This will be carried over from Transamerica, so if you have elected to receive statements, confirms, and other information via e-mail, Empower will continue with this delivery option provided a valid e-mail address has been shared. Please review your e-consent information either prior to transition with Transamerica or after the transition with Empower. For any participants who have installment payments in payment status Please note that payments scheduled to occur in December 2020 will be expedited and paid prior to December 24, the start of the blackout period. For those participants scheduled to receive installment payments in January 2021, these payments will be delayed and paid as soon as possible following the plan’s transition the week of January 10, 2021. Special note to any terminated participants that are continuing to pay on outstanding plan loans Your account information will be carried over from Transamerica to Empower, but we encourage you to contact Empower af ter the transition is complete to reconfirm your banking information. How your account will transfer As part of the transition to Empower, your account(s)will remain invested in the same funds in which you are currently invested. If you would like your account(s) to transfer differently, simply change the elections for your current balance and your future contributions by contacting Transamerica at 800-755-5801 between now and 3 p.m. Central time on December 23, 2020. The temporary blackout period begins at this time and will end the week of January 10, 2021 during which time you will not be able to make investment or other changes to your account. You will be able to make changes after the transition is completed the week of January 10, 2021. CORE FUND LINEUP: (Unless otherwise noted, all funds listed are available in the 401(k) and 403(b) plans.) FUND NAME TICKER FUND NAME TICKER American Funds EuroPacific Gr R6 RERGX T. Rowe Price Growth Stock I PRUFX Artisan International Inv ARTIX T. Rowe Price International Discovery I TIDDX ICM Small Company ICSCX T. Rowe Price Mid-Cap Value I TRMIX Disciplined Grow th Investors Mid Cap Grow th1 N/A Templeton Global Bond Adv TGBAX Dodge & Cox International Stock DODFX Vanguard Federal MMKT2 VMFXX Dodge & Cox Stock DODGX Vanguard Balanced Index I VBAIX Vanguard Developing Markets Index Federated Capital Preservation Y1 N/A VTMNX Institutional Harbor Capital Appreciation I Institutional HACAX Vanguard FTSE Social Index I VFTNX Invesco Small Cap Grow th R5 GTSVX Vanguard Inflation Protected Secs I VIPIX Janus Henderson Enterprise I JMGRX Vanguard Institutional Index I VINIX JPMorgan Emerging Markets Equity R6 JEMWX Vanguard Mid Cap Index I VMCIX Metropolitan West Total Return Bond I MWTIX Vanguard Small Cap Index I VSCIX Vanguard Total Bond Market Index I VBTIX 1 Investment available in the 401(k) plan only. 2 Investment available in the 403(b) plans only. Investing involves risk, including possible loss of principal. Funds that are not mutual funds do not have ticker symbols because they are exempt from SEC registration. TARGET DATE FUND LINEUP: 401(k) PLAN TARGET DATE FUNDS TICKER 403(b) PLAN TARGET DATE FUNDS TICKER Vanguard Target Retirement 2015 Trust II N/A Vanguard Institutional Target Retirement 2015 VITVX Vanguard Target Retirement 2020 Trust II N/A Vanguard Institutional Target Retirement 2020 VITWX Vanguard Target Retirement 2025 Trust II N/A Vanguard Institutional Target Retirement 2025 VRIVX Vanguard Target Retirement 2030 Trust II N/A Vanguard Institutional Target Retirement 2030 VTTWX Vanguard Target Retirement 2035 Trust II N/A Vanguard Institutional Target Retirement 2035 VITFX Vanguard Target Retirement 2040 Trust II N/A Vanguard Institutional Target Retirement 2040 VIRSX Vanguard Target Retirement 2045 Trust II N/A Vanguard Institutional Target Retirement 2045 VITLX Vanguard Target Retirement 2050 Trust II N/A Vanguard Institutional Target Retirement 2050 VTRLX Vanguard Target Retirement 2055 Trust II N/A Vanguard Institutional Target Retirement 2055 VIVLX Vanguard Target Retirement 2060 Trust II N/A Vanguard Institutional Target Retirement 2060 VILVX Vanguard Target Retirement 2065 Trust II N/A Vanguard Institutional Target Retirement 2065 VSXFX Vanguard Target Retirement Inc. Trust II N/A Vanguard Institutional Target Retirement Income VITRX Schwab Personal Choice Retirement Account® (PCRA) As part of this transition, your self-directed brokerage account (SDBA) will remain at Schwab. You may continue to trade within the PCRA during the transition to Empower. There will be a period of time where you will not be able to access your PCRA. Please review the specific PCRA letter for additional information. If you would like to open a PCRA for your pan, you may do so once the plan is live the week of January 10, 2021. The PCRA is intended for knowledgeable investors who acknowledge and understand the risks associated with the investments contained in the PCRA. Important notice concerning your rights in the Essentia Health Retirement Plan 401(k) and Essentia Health 403(b) Plan Notification date: November 17, 2020 December 23, 2020 This notice is to inform you that your account in the Last day to request transactions from Transamerica Essentia Health Retirement Plan 401(k) and Essentia Health (including enrollment, investment changes, contribution 403(b) Plan will transfer to Empower Retirement effective rate changes, beneficiary updates, loans, withdrawals, and January 4, 2021. submission of any completed paperwork for transactions to be processed as applicable). As a result of this change, you temporarily will be unable to check your account balance and transfer or diversify your Last day to access account information at Transamerica. investments (including investments held within a self- You will have complete access to your account at Empower directed brokerage account) in your plan account or obtain the week of January 10, 2021. withdrawal or distribution. This period during which you will be unable to exercise these rights otherwise available Before the blackout period begins, it is ver y impor tant that under the plan is called a blackout period. Whether or not you review and consider the appropriateness of your you are planning for retirement in the near future, we current investments because you will be unable to transfer encourage you to carefully consider how this blackout or diversify those investments during the blackout period.
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