MADD 403B PLAN Contribution & Employer Match

MADD 403B PLAN Average Participant Retirement Account Value

MADD 403B PLAN Estimated Average Employee Contribution Amount

• Each year, participants may contribute up to 100% of annual compensation, as defined in the Plan, not to exceed the limits of IRC §401, §402, and §415.
• At the participant’s election, these may be either "traditional" before-tax or "Roth" after-tax 403(b) contributions, depending on whether they are deducted before or after federal income taxes are withheld.
• Participants who have attained age 50 before the end of the plan year are eligible to make catch-up contributions.
• Employee rollover contributions are also permitted.

• The Plan provides for a discretionary matching contribution for each payroll period.
• The Organization’s board of directors approved a dollar for dollar match limited to 3% of an employee’s compensation up until April 1, 2024.
• Thereafter, the Organization’s board of directors approved a dollar for dollar match limited to 1.5% of an employee’s compensation.

• Participants are immediately vested in their voluntary contributions and rollover contributions, if any, plus actual earnings thereon.
• The discretionary employer matching contribution has a 100% vesting period after two years of service.
• As a result, upon completion of the employee’s second year of employment, the employee will be 100% vested in the discretionary employer matching contributions made on the participant’s behalf to the Plan.
• Full and immediate vesting will also occur upon normal retirement age (age 65), early retirement (age 55), death, or total disability, as defined by the Plan.