³Ô¹ÏÍø

³Ô¹ÏÍø ("FAU") sponsors ³Ô¹ÏÍø 403(b) Plan (the "Plan"). Eligible employees of theÌý
University can voluntarily elect to defer a portion of their compensation to the Plan to supplement their retirement savings.
The Plan is in addition to the plans offered to eligible employees through the State of ³Ô¹ÏÍø Retirement System Pension orÌý
Investment Plan and the Optional Retirement System (ORP). Participation in the Plan does not reduce any FAU benefitsÌý
based on salary, such as Pension, Life Insurance, Disability, or survivor benefits.

Eligibility
Generally, all employees of FAU who receive compensation reportable on a Form W-2 are eligible to participate in the Plan.Ìý
This includes all SP, AMP, Faculty (including Adjunct Professors) and temporary (OPS) employees. Student workers are theÌý
only excluded group.

Contributions
An employee can elect to defer a portion of his or her compensation to the Plan on a pre-tax basis so that Federal Income TaxÌý
is deferred on the contributions and any earnings thereon until distributed from the Plan. Distributions are taxed as ordinaryÌý
income for Federal tax purposes. Employees can invest their contributions to the Plan among the investment options offeredÌý
by an approved vendor under the Plan. Employees are 100% vested in their accounts under the Plan at all times. AnnualÌý
contributions to the plan are limited per IRS regulations. Contribution limits change annually. Your Benefits & RetirementÌý
team can provide you with this year’s limits.Ìý

Important Note: If you are an OPS classified employee or Adjunct Professor, you were automatically enrolled in the FICAÌý
Alternative Plan. This could affect the amount of your Social Security benefits when you retire. You may also enroll in theÌý
FAU 403(b) Plan. Please see:Ìý FICA Alternative Plan Ìýfor more information regarding the FICA Alternative Plan.

Enrollment
Eligible employees may begin participating in the Plan at any time. To enroll in the Plan, an employee must complete both (i)Ìý
an approved vendor's application to open an account and (ii) a Salary Reduction Agreement (SRA) to elect the contributionÌý
amount.Ìý

Please note: ÌýOptional Retirement Plan participants (ORP) must first maximize their voluntary contributions into the ORP,Ìý
before opening and contributing to a separate 403(b) account. ORP participants changing their ORP contribution percentage
also need to complete ORP form 16-a.Ìý

Non-ORP accounts are designated as a flat dollar amount. The SRA will apply only to amounts earned after enrolling in theÌý
Plan, and an employee's election under the SRA will continue until the SRA is modified or revoked by the employee. TheÌý
SRA is available online by accessing:Ìý SalaryReductionForm.

To Modify a Deferral Election
Employees may increase,Ìý decrease, stop their contributions, or change the approved vendor to the Plan at any time.

More Information
Contact Benefits & Retirement,Ìý benefits@fau.edu Ìýor one ofÌý Ìýdirectly with questions or for help enrolling inÌý
the Plan.Ìý

This notice is provided as a source of information and does not constitute legal, tax, or other professional advice. If legal advice, tax advice, or otherÌý
professional assistance is required, the services of a professional advisor should be sought. Every effort has been made to make this notice as thorough andÌý
accurate as possible. However, there are other legal documents, laws, and regulations that govern the operation of the Plan. It is understood that in the eventÌý
of any conflict, the terms of the Plan document, applicable laws, and regulations will govern

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