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    Gwinnett County Board of Education’s 403(b) Plan

    Eligible Automatic Contribution Arrangement/Default Investment




    1.  Does the Plan’s automatic enrollment feature apply to me?

    If you are an employee hired, rehired, or transferred into a covered position on or after July 1, 2011, you will be automatically enrolled in the Plan. If you are normally scheduled to work less than 20 hours per week, or if you are seasonal, temporary, or student employee, the automatic enrollment feature will not apply to you.


    2.  If I do nothing, how much will be taken from my pay and contributed to the Plan?

    The Employer will automatically contribute 2.5% of your eligible pay to the Plan each pay period (the “Automatic Deferral Percentage”) and transmit the withheld amount to the Plan as your elective deferrals.


    3.  How will my Plan account be invested?

    As a Participant in the Plan, you have the right to direct the investment of some, or all, of your Plan account assets. If you do not make an election as to how the Plan Administrator should invest your Plan account(s), then the Plan Administrator will direct that your Plan account(s) be invested in the “default” investment that the Plan Administrator has selected. Currently, the default investment is T. Rowe Price Retirement Target Date Fund, which is based on age.


    4.  When will my Plan account be vested and available to me?

    You will always be fully vested in your contributions to the Plan. Even if you are vested in your Plan account, there are limits on when you may withdraw your funds.


    5.  Can I change the amount of my contribution?

    You can always change the amount you contribute to the Plan. If you wish to defer a percentage of your pay that is different from (i.e., either more or less than) the Automatic Deferral Percentage, please visit the AIG Retirement Services website at http://www.aig.com/RetirementServices and complete the applicable information in AIG Retirement Services to defer a different percentage (the "Contrary Election") of your compensation (including $0). Your Contrary Election will be effective as soon as the Plan Administrator reasonably can implement your election after receipt. Your Contrary Election will remain in effect unless and until you change it.