403(b) plan

Take advantage today

You are immediately eligible upon employment to start making elective deferrals to the plan.

• You are eligible to participate in the plan for purposes of employer contributions on the later of the first anniversary of your date of hire or completion of 1,000 hours of service.
• Employees who normally work fewer than 20 hours per week and employees covered by certain collective bargaining agreements are not eligible to participate in the plan for purposes of employer contributions.
  
• To be eligible to receive the annual employer matching contribution, you must have completed 1,000 hours of service during the year. The 1,000 hours of service does not apply in the year in which you terminate employment.

Starting early has its advantages

Your contributions

Catch-up contributions

Additional contributions are available if you meet certain requirements. Ask your financial professional for more information.

Employer matching contributions

For each $1 you contribute, Dialysis Clinic, Inc. will contribute $.50 of elective deferrals that do not exceed 8% of your salary. The employer match is paid once a year after the calendar year ends.

Stop/change contributions

You may change your contribution amount or discontinue contributing to your plan at any time and resume contributing again later, subject to your employer's plan provisions. In the meantime, your account will continue to grow on a tax-deferred basis.

Vesting

Vesting is a participant’s right of ownership to the money in his or her plan account. You are always 100% vested in the contributions you make to your account. You will be 100% vested in Dialysis Clinic, Inc.'s contributions after three years of vesting service.

Accessing your money before retirement

Distribution options

The retirement plan allows in-service withdrawals only in the following circumstances: 

• From your employee contributions in the case of hardship, when you attain age 59½ or separate from service. 
  
• From your employer's matching contributions when you attain age 59½ or separate from service 
  
• From your employer's basic contributions when you attain age 62 or separate from service.
  

Your plan was established to encourage long-term savings, so withdrawals prior to age 59½ might be subject to federal restrictions and a 10% federal tax penalty. The following are some events upon which you may withdraw vested amounts without incurring a 10% federal tax penalty:

• Attaining age 59½. 
  
• Separation from service at or after age 55. 
  
• Your death or total disability. 
  
• Taking substantially equal payments after separation from service for a period of five years or attainment of age 59½, whichever is later.
  
• Qualified birth or adoption withdrawal within one year from the date of birth or adoption.  

Tax-free loans

Tax-free loans make it possible for you to access your account without permanently reducing your account balance. Defaulted loan amounts (not repaid on time) will be taxed as ordinary income and may be subject to a 10% federal tax penalty if you are younger than age 59½.