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• Legal Entity employees will be enrolled in a 403b Retirement Plan. This is slightly different than the 403b9 plan that other Reliant employees have. 403b is a general non-profit account, while 403b9 is specifically for religious organizations. This may affect an employees ability to draw parsonage from the account when they retire.
• When transferring from Reliant 403B Retirement Plan to the legal entity 403B Retirement Plan there is a 90-day enrollment period before an employee is eligible to contribute to the legal entity 403B Retirement Plan. Therefore, an advance totaling two additional months of the employee's normal 403B monthly contribution amount will be given during the last month of Reliant payroll. That advance amount will go to Principal during the last month of employment with Reliant to prepay for 2 additional months of contributions into the Reliant 403B plan. This will make up for the 2 future months that will be missed with the legal entity 403B Retirement plan due to ineligibility of enrollment within the first 90 days. The employee will then see the advance repayments come out of their first two paychecks with the legal entity in the amount of their normal monthly 403B payment. This allows the employee to see no change in monthly contributions deducted from their paycheck and they will still be able to have given monthly towards their 403B plan even during the ineligible months.