The Plan enjoys certain tax advantages because it is intended to be a long-term savings program for retirement. For example, under current federal income tax law, money in your Plan account is not taxable while it is held in your account unless you choose to convert existing non-Roth Plan balances to after-tax Roth amounts (as described under "Roth In-Plan Conversions").

You or your beneficiary will owe income taxes on the taxable portion of your distribution (all amounts other than contributions to your After-Tax Contribution Account and Roth accounts plus the earnings on Roth After-Tax Contributions under certain conditions) when you receive the money. The tax year cut off for payments is determined each year by the Plan's Trust and is earlier than the end of the calendar year. Please confirm the tax year cut-off date to ensure your year-end distribution is reflected in the tax year you desire.