TIAA Salary Deferral Form

Salary DeferralForm Buckingham Browne & Nichols DC RetirementPlan Complete this form and return to the School. Do not send this form toTIAA. Use this form to authorize the School to establish, change, or cancel the amount you wish to have withheld from your paycheck and contributed to your Plan account. EMPLOYEEINFORMATION EmployeeFirstName MiddleInitial LastName ELECTIVE DEFERRALAMOUNT Insert the percentage (whole number) of your basic pay to be withheld from your paycheck each pay period. For payroll periods ending after June 1, 2022, we will not deduct from overtime, bonuses or other amounts in excess of your basic pay. We do not deduct from stipends except for employees (such as seasonal coaches) whose stipends are the sole or primary source of compensation. Deferrals do not take precedence over legally mandated withholdings and may not exceed IRS limits. % 1. SIGNATURE I understand and acceptthat: • MydeferralsaresubjecttoSocialSecuritytaxintheyear • This deferral election remains in effect for this year and when earned. following years until I cancel or change it by submitting a • AmountsinmyPlanaccountaresubjecttogainorlossin new Form to the School. The School will process thisForm accordancewithmyselectedinvestmentsandPlanrules. and any changes or cancellations after receipt, subject to • AmountsmaybepaidfromthePlanonlyaccordingtoits reasonable processingtime. rules. • Mydeferrals are not subject to federal or state income tax • Ifthisismyfirstelection,Imustcompleteenrollment until distributed from my Plan account (or from a rollover materials before this election can be processed. accountifIhaverolledovera distribution). EmployeeSignature Date IRS ANNUAL ELECTIVE DEFERRALLIMIT This chart shows the IRS annual Limits for deferrals and catch-up limits. You must be at least 50 years old in the calendar year for the catch-up limit to apply. These limits are reduced by any 403(b) or 401(k) salary deferrals you make in the same year to the plan of another employer. To avoid tax penalties, you must promptly notify the School if you have over-contributed so that the excess can be withdrawn. It is your responsibility to know and monitor the limit if you contribute to other plans in the same year as this Plan. Year Deferral Limit Catch-up Limit Total Deferral 2024 $23,000 $7,500 $30,500 2025 $23,500 Age 50+: $7,500 $31,000 Age 60-63: $11,250 $34,750