Saving for Retirement

The Getty is committed to supporting your financial well-being — today and tomorrow. The Employee Investment Program helps you prepare for retirement by offering an easy, tax-advantaged way to save for your future financial needs.

The Employee Investment Program consists of two plans:

• The Employee Investment Plan (EIP), a 403(b) plan that allows you to make before-tax or Roth after-tax contributions from your paycheck, AND
• The Defined Contribution Retirement Plan (DCRP), a 401(a) plan to which the Getty makes contributions on your behalf.

Key advantages:

• The Getty makes two contributions to your DCRP retirement account:
• A match, based on your own contribution, of up to 5% of your Earnings; and
• A non-elective contribution, which the Getty makes whether you are contributing or not.
• Current tax savings when you make before-tax contributions
• Tax-deferred investment growth
• Tax-free withdrawals when you make Roth after-tax contributions*
• Wide range of investment choices
• Convenient payroll deductions

* Your Roth after-tax contributions are always tax-free upon withdrawal. Any associated earnings can also be withdrawn tax-free if at least five years have elapsed since your first Roth contribution, and you are at least 59½.

If you make any Roth in-plan conversions, you must wait five years after each conversion before withdrawing the converted funds, or you will incur penalties. You must also pay taxes on the converted funds in the year of conversion.

Manage your EIP account

Visit Vanguard to enroll or manage your account:

Enroll in the plan

Check your balance

Change your contribution rate

Manage your investments

Update your beneficiary

Use planning tools and calculators

Access forms and documents

How do I enroll?

New employees are automatically enrolled in the EIP with a before-tax contribution of 5% of your Earnings, which will begin after a 30-day notice period. Your 5% contribution will be reflected in the first paycheck following 30 days of employment. During the notice period, you may choose to waive participation or elect an amount other than 5% of your Earnings. New employees can also elect to enroll immediately rather than wait for the 30-day notice period.

Any employees not enrolled or who opt out of the enrollment, may enroll at any time.

Remember that you can choose to contribute more or less than 5%, up to the IRS limit, or may choose to contribute nothing.

You may contribute up to annual IRS limits. In 2025, you may contribute up to:

• $23,500 if you are under age 50 (pre-tax, Roth post-tax, or a combination of both). What’s the difference?
• $31,000 if you’re age 50 or older this year (which includes an additional $7,500 in catch-up contributions).
• $34,750 if you turn age 60, 61, 62, or 63 in 2025 (which includes an additional $11,250 in catch-up contributions).

If your contributions are percentage-based and you are contributing less than 10% of your pay, including both pre-tax and after-tax Roth contributions, your pre-tax contribution rate will be increased by one percentage point each year until you reach 10% in pre-tax contributions. The automatic increase will be applied to your pretax contribution rate only, not your Roth contribution rate. The annual increase will occur as soon as administratively possible after July 1 of each calendar year. You can elect not to have your contribution rate increased. You may also elect an annual increase of contributions on your own.

To help you reach your retirement planning goals, the Getty makes the following contributions to your account:

Matching Contributions

The Getty will match each dollar you put into your EIP Account up to 5% of your Earnings. The matching contribution is computed each pay period.

Non-elective Contribution

The Getty makes a contribution to your DCRP account equal to 6% of your Earnings up to the Social Security taxable wage base plus 10% on Earnings that are in excess of the Social Security taxable wage base, up to the IRS Compensation limit.

Here’s how the company match works:

Vesting is another way of saying “how much of the money is yours to keep if you leave the Getty.” You are always 100% vested in your own contributions in the EIP, including any investment gains or losses on the money.

You become 100% vested in matching contributions and non-elective contributions in the DCRP after three years of service. A year of service is defined as a calendar year in which you have completed at least 1,000 hours of service.

The money in your account is intended as a long-term investment to help you prepare for your financial needs in retirement. However, under certain circumstances, you may be able to access money from your account before reaching retirement age. For more information, visit Vanguard or call 800-523-1188.

Think Before You Act

If you’re considering taking a withdrawal or loan from your plan account, be sure to think about the impact it may have on your financial future.

• Taking money from your account now may lead to a smaller savings balance when you retire.
• Not only are you taking money away from your retirement savings, but the burden of repaying the loan may make it even harder to get back on track.
• If you take a plan loan, you’ll also lose more money to taxes because the interest payments on your loan are made with money that has already been taxed, and it will be taxed again when withdrawn from your account.
• If you withdraw pre-tax money from your plan account, in addition to paying current taxes on the money, you may have to pay an additional 10% penalty tax if you are younger than age 59½ or, age 55 if you have retired or left the company.

Roth In-Plan Conversion

A Roth in-plan conversion allows you to convert a portion of your pre-tax retirement assets, in the Employee Investment Plan only, into tax-free Roth assets. This strategy can potentially generate tax-free income in retirement.

It's important to understand that the converted amount is taxable income in the year of conversion. For example, if you execute a Roth in-plan conversion in 2024, the associated taxes on the converted amount will be due when you file your 2024 tax return. In addition, you must wait five years after each conversion before withdrawing the converted funds, or you will incur penalties.

To learn more, visit Vanguard's ​website for questions and answers about Roth in-plan conversions.

Make the most of your retirement planning by taking advantage of these tools and resources through Vanguard.

Go to Vanguard’s website to:

• Access your account online
• Make or change your beneficiary designation
• Change your contribution
• Change your investments
• Find out how much you have saved/estimate how much you will have at retirement
• Consult with a financial advisor to achieve your goals
• Vanguard Financial Resources

If any portion of your EIP balance is with Prudential, contact Prudential at 800-458-6333 for account information.

Before investing, carefully consider the funds’ or investment options’ objectives, risks, charges, and expenses. Call 800-523-1188 for your EIP Plan and for your DCRP Plan for a prospectus and, if available, a summary prospectus, or an offering circular containing this and other information. Please read them carefully. The prospectus for Vanguard funds may be obtained on the Vanguard website; non-Vanguard funds must be obtained by calling Vanguard.

Investing involves risk, including the risk of loss.