New Retirement Plan Option & Simplified Account Management

With Retirement@Work®, you can manage your savings online in one spot whenever you want, making it easier for you to:

• Track your progress: Get a snapshot of all your investments, and view current and past transactions.
• Make informed decisions: Learn more about your retirement plan(s), and use calculators and other tools to help plan for the type of retirement you want.
• Change your contributions: Change your contribution amount or how it’s split among your selected investment provider(s).
• Make Roth contributions: The plan will now offer you the option to make Roth after-tax contributions in addition to the current pretax contributions. With the Roth option, you have the potential to withdraw the amount that is earned on these contributions tax-free. Withdrawals of earnings after age 59½ are tax-free if the distribution is taken no earlier than five years after the Roth contributions were first made.

While you’ll have access to all of your investments with the Lafayette College Retirement Plan in one location, these things will not change:

• The contribution amount coming from your paycheck each pay period
• Your investment choices
• Your beneficiary designations
• The required Lafayette College Retirement Plan contribution formulas and schedules (if applicable)
• The contribution that your employer makes (if applicable)

There will be a period of time beginning January 13, 2025, and ending January 22, 2025, during which you will not be able to make changes to your retirement plan contribution rate or enroll in the plan. Please make sure you submit any changes (start, stop, or modify contribution amount and/or investment provider) using the current process no later than January 10, 2025.

Once the new system is live, you will be able to make changes again.

After January 23, 2025, all enrollments and contribution changes must be made in the Retirement@Work® system.

January 10, 2025 — Last day to make changes to your contribution rate or enroll in the retirement plan.

January 13, 2025, through January 22, 2025 (Quiet Period) — System upgrades take place. You will not be able to make changes to your contribution rate or enroll in the plan. During this brief period, contact your investment provider directly to access your account, request fund transfers, update your beneficiary, or review investment performance.

January 23, 2025 — Retirement@Work® website is available for active employees to enroll, choose investment providers, and make changes to contributions beginning as early as your February pay.

There is nothing you need to do at this point. Once the Retirement@Work® website is available, you will receive another email with instructions on how to log in and utilize the system. For plan-related questions, contact the HR Office at HROffice@lafayette.edu or by calling 610-330-5060, and pressing option 2.