This service-campaign is designed to be educational and timely, reminding participants or beneficiaries of inherited retirement plan assets of upcoming Required Minimum Distribution (RMD) or full payout deadlines.

Eligibility and who will get these communications

Those who will receive this communication are:
1. Participants when they reach the RMD eligible age
2. Participants who are already taking RMDs as a reminder each year.
3. Beneficiaries of plans that are required to take funds out after a certain time.

Timing

Annually (Q3) unless noted otherwise

Frequently Asked Questions:

If a participant is still working, do they need to take an RMD?

If the participant continues working past age 73, they may delay taking RMDs from their workplace savings plan, such as a 401(k), 403(b), or small-business account, provided:
• They are they still working for the employer who sponsors the plan and the plan allows
• They do NOT own more than 5% of the business

What if a participant has a planned Systematic Withdrawal Payment (SWP)?

If a participant has a SWP on file for an RMD, they will be excluded from this ongoing communication.

RMD First Timer

For participants turning 73, this communication will provide details about taking their first RMD. Messages varies if a participant has automatically generated or non-auto generated.

Sample Auto-Gen: The plan uses the automatic-generated services
Sample Non-Auto-Gen: The plan does not use the automatically generated services

Note: First time RMD communication runs weekly.

Repeat RMD Takers

Communication sent to participants who previously received RMD and have not established a systematic withdrawal for future RMDs.

Sample Auto-Gen
Sample Non-Auto-Gen

NetBenefits Article on RMD

Content available on NetBenefits to promote frequently asked questions

RMD FAQs – NetBenefits article

Beneficiary Communications

Plans with a 5 or 10 year required distribution to beneficiaries. There will be two communications to provide beneficiaries time for planning purposes:
1. The year before: Communication sent a year before the required distribution of all assets by either the 5th or 10th year in the inherited account by December 31st of the next year. 4th year or 9th year
2. The year of: Communication sent the year of the required distribution of all assets by either the 5th or 10th year in the inherited account by December 31st of the next year. 5th year or 10th year

If this is not a 5 or 10 year required distribution for beneficiaries

If a plan does not follow a 5 or 10 year scheduled full payout for a beneficiary, they would receive this communication. It would be sent if the plan requires a SWP on file, with it being the final payment that would be received 60 days before the distribution. Plan required full distribution

Note: This runs monthly.

For plan sponsor and investment professional use only

1. The “applicable age” for commencing RMDs was updated under the SECURE 1.0 Act and the SECURE 2.0 Act based on the employees date of birth as follows:

• 70½ for those born before July 1, 1949;

• 72 for those born on or after July 1, 1949, and before January 1, 1951;

• 73 for those born on or after January 1, 1951, and before January 1, 1960;

• 75 for those born on or after January 1, 1960.

If an individual waits until April 1 of the year after reaching the applicable age for commencing RMDs and/or terminating employment with the employer sponsoring the plan, they will be required to take two distributions that year to satisfy the first and second year RMDs.

Fidelity Investments Institutional Operations Company LLC, 245 Summer Street, Boston, MA 02210

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