Safe Harbor Participant Notice

You are eligible to make salary deferral contributions to the Reliant Mission 401(k) Retirement Savings Plan for the 2023 plan year. This notice provides you with information to consider before deciding to take no action or to start, continue or change your salary deferral agreement.

Eligibility and Entry Requirements

You are eligible to join the plan if you:

• Have completed *1 year of service with the company. 
  *One year will be defined as 12 consecutive months with no breaks other than approved leave of absence, where all like benefits would be continued. 

Salary Deferral Contribution Plan Provision

You may elect to defer a percentage of your pay each pay period. Your current taxable income is reduced by the amount you contribute through salary deferral. This lets you reduce your current federal and most state income taxes. 

The Safe Harbor plan allows you to defer 100% of your pay.

• You may also elect to defer a percentage of your pay each pay period as Roth deferrals, which are after-tax contributions. 

• This plan allows you to defer 100% of your pay as pre-tax or after-tax salary deferral contributions.

You can enter into an agreement to make or change your salary deferral contribution on any date. You will need to submit salary deferral changes on the Principal.com website.

Changes to salary deferrals on the Principal website made prior to the 20^th of the month will affect the following month's pay check. Changes made after the 19th of a month may not be reflected on your pay check until 2 months after the change was made (i.e. changes made Dec. 20-Jan. 19 will be reflected on February 15 payroll) due to the deadline for payroll changes and the timing of when deferrals are reported by Principal to Reliant Mission.

Once an agreement is in effect, salary deferrals will be payroll deducted from your future checks. You can terminate your agreement at any time in accordance with the dates noted above for changes. 

Pay is defined under the plan as follows: Wages, Tips and Other Compensation Box on Form W-2.

Compensation shall exclude reimbursements or other expense allowances, fringe benefits (cash and noncash), moving expenses, deferred compensation (other than elective contributions and welfare benefits Currently the only “additions” to pay offered by Reliant that are classified as “fringe benefits” are Taxable Reimbursements and Ministry Expense Bonuses. 

Internal Revenue Service (IRS) regulations or the retirement plan may limit the annual amount of your salary deferral contributions. The IRS limits are described in the Plan’s Summary Plan Description (SPD) or can be obtained from Reliant Mission. 

If you meet the salary deferral contribution limit, you may continue to defer up to the catch-up contribution limit if you are eligible to defer catch-up contributions.  

Safe Harbor Employer Contribution Plan Provision

For the 2023 Plan Year, Reliant Mission, Inc. will be making the following contribution to the Safe Harbor Plan: 

Please note that the plan document may be amended to reduce or suspend the safe harbor match or non-elective contribution at any point during the plan year. If this occurs, a supplemental notice will be provided at least 30 days prior to the reduction or suspension.

Qualified Matching Contribution

A qualified matching contribution will be made, based on 100% of salary deferral contributions up to 5% of pay for the plan year. Your pay may be restricted to the annual pay limit announced by IRS¹.

^₁This limit will be adjusted to reflect any annual cost-of-living increases announced by the IRS.

Other Employer Contribution Plan provision

In addition to the above, other employer contributions may be made to the Plan. You should review the Plan's SPD for details regarding these other contributions.

Vesting Plan Provision

You are always 100% vested in the part of the account resulting from the following:

• Rollover (Traditional and Roth)

• Salary Deferral Contributions (Elect Deferral, Traditional and Roth)

• Salary Deferral Catch-Up Contributions (Elect Deferral Catch-Up,Traditional and Roth)
• Safe Harbor Employer Contributions
• Rollover In-Plan Roth
• ER Match in K Safe Harbor (Employer match)
• Salary Deferral Contribution and ER Match Roth Transfer
• Additional Roth Transfer

Withdrawal Plan Provision

The following withdrawals are allowed on the plan. Please note that there are rules and requirements that must be met prior to taking a withdrawal.

• Severance from employment
• Death
• Disability
• Attainment of age 59½ (limited to 12 per year)
• Plan termination
• Hardship withdrawal (limited to elective deferrals)
• Active Military – Deemed Severance withdrawal

Additional Information

For additional information about the Safe Harbor plan, please contact:

David Meldrum-Green, CPA
Director of Organizational Affairs & Treasurer
11002 Lake Hart Drive  Suite 100
Orlando, FL 32832

p. 407-459-7496
dave.meldrum-green@reliant.org

An additional copy of the Summary Plan Description can also be obtained from the above stated person. 

This is a brief summary of the Safe Harbor plan.  If there are any discrepancies between this summary and the plan document, the plan document will govern.