OGHS Retirement Plans

OGHS Retirement Plans

Change is good. Opelousas General Health System Retirement Plans Evolving

Opelousas General Health System’s retirement plans offer an excellent opportunity to help you accumulate money for a secure retirement. Your employer provides the following three tax-deferred saving plans: ❯❯ Opelousas General Health System 457(b) Retirement Savings Plan • • Contributions can be directed to a traditional pretax account or a Roth after-tax account ❯❯ Retirement Plan for Employees of Opelousas General Hospital • • A 401(a) plan for all employees funded by employer contributions ❯❯ Opelousas General Hospital Social Security Replacement Plan • • A special plan funded by money that would have gone to Social Security in a tax-deferred account

This is not your plan document. The administration of each plan is governed by the actual plan document. If discrepancies arise between this summary and the plan document, the plan document will govern.

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Change is good. Evolving Opelousas General Health System 457(b) Retirement Savings Plan

Retirement Plan for Employees of Opelousas General Hospital

Opelousas General Hospital Social Security Replacement Plan

Plan type

457(b) deferred compensation plan

401(a) money purchase plan

Social Security replacement plan

Eligibility

Ask your benefits office or your financial advisor to determine if you are eligible.

You must complete one hour of service during the plan year to be eligible. Excluded employees: > > On-call, temporary employees > > “No benefit” employees

All employees are eligible with certain exceptions.

Excluded employees: > > Union employees > > Non-resident aliens > > Leased employees

Enrollment

Three convenient ways to enroll: > > Online at oghs.VALIC.com > > By phone at 1-888-569-7055 between7:30 a.m. and7:00p.m. (CT) > > In person when you meet with your financial advisor As much as 100% of your annual includible compensation up to $19,500 in 2020. Catch-up contributions You may be able to contribute up to an additional: > > $19,500 in 2020 if you are within the last three taxable years ending the year prior to the year in which you attain normal retirement age as specified under the plan and have undercontributed in prior years; or > > $6,500 in 2020 if you are age 50 or older. If you are eligible for both, you may not combine the two catch-up amounts, but you may contribute up to the higher amount. You may direct all or part of your contributions to a Roth account (contributions are after-tax). Whether pretax, after-tax, or both, your contributions are subject to the annual contribution limits detailed above.

Automatic for all eligible employees.

Automatic for all eligible employees.

Your pretax contributions

Not applicable.

Mandatory contributions of an amount equal to 7.65% of your compensation.

Roth contributions

Not applicable.

Not applicable.

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Change is good. Evolving Opelousas General Health System 457(b) Retirement Savings Plan

Retirement Plan for Employees of Opelousas General Hospital

Opelousas General Hospital Social Security Replacement Plan

Plan type

457(b) deferred compensation plan

401(a) money purchase plan

Social Security replacement plan

Employer contributions

Not applicable.

An amount equal to a percentage of your annual compensation based on years of service: > > Fewer than 5 years = 5%

Not applicable.

> > 5 - 10 years = 7% > > 10 - 15 years = 9% > > 15 - 20 years = 11% > > 20 or more years = 13%

Vesting

You are always 100% vested in your own contributions.

Your ownership of the employer contributions to your account is based on your years of service as follows:

You are always 100% vested in your own contributions.

Fewer than 2 years = 0% 2 or more years = 20% 3 or more years = 40% 4 or more years = 60% 5 or more years = 80% 6 or more years = 100%

Participants are 100% vested in case of death, disability, normal or early retirement.

Stop or change contributions

You may > > change > > discontinue > > resume

Not applicable.

Not applicable.

your contributions to the 457(b) plan at any time. These changes become effective no sooner than the first pay period of the month following the date the election is made. This plan will accept rollovers from other plans. If distributions from the prior plan are subject to the 10% federal early withdrawal tax penalty, they will continue to be subject to the penalty after the rollover (until such penalty does not apply). Create a customized investment mix from the variety of mutual funds made available by Opelousas General Health System. If you make no choice, Opelousas General Health System will invest your account in a default option.

Rollovers

This plan will not accept rollovers from other plans.

This plan will accept rollovers from other pretax plans. However, rollovers of after-tax funds or from terminated participants will not be accepted.

Investments

Opelousas General Health System directs investments on this plan.

Create a customized investment mix from the variety of mutual funds made available by Opelousas General Health System. If you make no choice, Opelousas General Health System will invest your account in a default option.

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Retirement Plan for Employees of Opelousas General Hospital

Opelousas General Hospital Social Security Replacement Plan

Opelousas General Health System 457(b) Retirement Savings Plan

Plan type

457(b) deferred compensation plan

401(a) money purchase plan

Social Security replacement plan

Tax-free loans

Tax-free loans make it possible for you to access your account, subject to certain limitations, without permanently reducing your account balance. Defaulted loan amounts (not repaid on time) will be taxed as ordinary income. This plan was established to encourage long-term saving. Unlike many other plan types, there is no 10% federal early withdrawal tax penalty in the 457(b) plan. Generally, you can withdraw the value of your vested account balance in the following circumstances: > > Reaching age 70½ > > Retirement or severance from employment > > Your death > > Unforeseeable emergencies Minimum distribution required at age 70½ or upon retirement, whichever is later. Bear in mind that income taxes are payable upon withdrawal. Qualified distributions from a Roth account are tax free if certain conditions are met (see next page). Your plan allows in-service distributions if these three conditions are met: > > The total amount payable does not exceed $5,000; > > You have not contributed to the plan during the last two years prior to the distribution date; and > > You have not received a prior distribution under the plan for this reason.

Not applicable.

Not applicable.

Withdrawal restrictions

This plan was established to encourage long-term savings, so withdrawals prior to age 59½ may be subject to federal restrictions and a 10% federal early withdrawal tax penalty. Generally, depending on plan provisions, you may withdraw your vested account balance if you meet one of the following requirements: > > Retirement or severance from employment > > Your death or total disability Minimum distribution required at age 70½ or upon retirement, whichever is later. Bear in mind that income taxes are payable upon withdrawal.

This plan was established to replace the Social Security tax. Federal restrictions and a 10% federal early withdrawal tax penalty might apply to withdrawals prior to age 59½. Generally, you can withdraw the value of your vested account balance in the following circumstances: > > Retirement or severance from employment > > Your death or total disability

Minimum distribution required at age 70½ or upon retirement, whichever is later. Bear in mind that income taxes are payable upon withdrawal.

In-service withdrawals

Employer contributions may not be withdrawn while still employed.

Amounts rolled over into this plan may be distributed at any time.

Participants who have previously contributed on an after-tax basis to this plan may request a distribution of after-tax contributions at any time.

Involuntary distributions

Not applicable.

If your service is terminated, an immediate distribution of your vested interest in the plan may be made without your consent, regardless of the amount.

If your service is terminated, an immediate distribution of your vested interest in the plan may be made without your consent, regardless of the amount.

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Change is good. Evolving

Distribution options The plan offers many distribution options, allowing you to tailor your benefits to meet your individual needs. Depending on your plan provisions, your withdrawal options include: ❯❯ Transferring or rolling over your vested account balance to another tax-advantaged plan that accepts transfers of rollovers ❯❯ Electing systematic withdrawals ❯❯ Taking a lump-sum distribution ❯❯ Choosing one of the many annuity options available ❯❯ Deferring distributions until the later of age 70½ or severance of employment, and allowing your account to continue to grow on a tax-deferred basis Generally, income taxes must be paid on all amounts you withdraw from your plan. Qualified distributions from a Roth account are tax-free. Generally, a qualified Roth distribution is a distribution that (1) is withdrawn after the end of the five-year period beginning with the first year in which a Roth contribution was made to the plan, and (2) is after reaching age 59½, death or disability. Consult your financial advisor for more specific information. Fee disclosure information Obtain specific fee disclosure and fund performance information by visiting oghs.VALIC.com and clicking on “Fee Disclosure” in the dark box at the bottom of the screen. Account statement AIG Retirement Services sends all active participants a comprehensive account statement every calendar quarter. This account statement documents all activity for the preceding period, including total contributions and transfers among investment options. You can choose to "go paperless" if you wish. Receive secure, paperless, electronic notification when your retirement account statements, transaction confirmations and certain regulatory documents are available online through our secure connection, Personal Deliver- ® . Managing these items electronically is faster and more secure than paper mail. Simply log in to your account at oghs.VALIC.com to sign up for this free service.

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Contacts Simply contact one of the AIG Retirement Services financial advisors listed below. You can also schedule a one-on-one consultation with your financial advisor at no charge. Nick Grove 8545 United Plaza Blvd., Suite 220 Baton Rouge, LA 70809 (225) 892-4445

Mobile: (337) 344-4712 [email protected] Daniel Poynot 8545 United Plaza Blvd., Suite 220 Baton Rouge, LA 70809 (225) 892-4445

Mobile: (985) 705-2662 [email protected]

Account access Once you are enrolled, you can access your account information and perform certain transactions 24 hours a day, seven days a week from anywhere at any time: ❯❯ Online at oghs.VALIC.com ❯❯ By phone at 1-800-448-2542 Access account information on your mobile device. ❯❯ AIG Retirement Services Mobile for iPad ® , iPhone ® or Android ™ - based phones ❯❯ AIG Retirement Services Mobile Access for web-enabled devices at my.valic.com/mobility

Your Future is Calling. Meet It with Confidence. CLICK oghs.VALIC.com CALL 1-800-426-3753 VISIT your financial advisor

Investors should carefully consider the investment objectives, risks, fees, charges and expenses before investing. This and other important information is contained in the prospectus, which can be obtained from your financial professional or at www.oghs.valic.com. You can also request a copy by calling 1-800-428-2542. Read the prospectuses carefully before investing. This information is general in nature, may be subject to change and does not constitute legal, tax or accounting advice from any company, its employees, financial professionals or other representatives. Applicable laws and regulations are complex and subject to change. For advice concerning your situation, consult your attorney, tax advisor or accountant. Securities and investment advisory services offered through VALIC Financial Advisors, Inc. (VFA), member FINRA, SIPC and an SEC-registered investment adviser. Annuities are issued by The Variable Annuity Life Insurance Company (VALIC), Houston, TX. Variable annuities are distributed by its affiliate, AIG Capital Services, Inc. (ACS), member FINRA. AIG Retirement Services represents AIG member companies–The Variable Annuity Life Insurance Company (VALIC) and its subsidiaries, VALIC Financial Advisors, Inc. (VFA) and VALIC Retirement Services Company (VRSCO). All are members of American International Group, Inc. (AIG). iPad and iPhone are registered trademarks of Apple Inc. Android is a trademark of Google Inc.

© American International Group, Inc. All rights reserved.

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