457(b)
Deferred Compensation Plan

403(b)
Retirement Plan

Maximum Contribution

$17,000 in 2012.

$17,000 in 2012.

Catch-Up for Participants Age 50 or Older

Participants age 50 or older may make additional contributions of up to $5,500 in 2012.

Participants age 50 or older may make additional contributions of up to $5,500 in 2012.

Loans

Not available.

Your 403(b) Plan allows you to borrow the lesser of $50,000 or 50% of your total account balance. The minimum loan amount is $1,000, and you have up to five years to repay your loan - up to 15 years if the money is used to purchase your primary residence. You may apply through the Website at www.gwrs.com (with your PIN) or by calling KeyTalk® at (800) 232-0859. 1

Loan Fee

Not applicable.

There is a $50 origination fee for each loan, plus an ongoing annual fee of $25, charged as $6.25 per quarter.

Distributions

• Required Minimum Distribution - You are required to take your first required minimum distribution by April 1 of the calendar year following the later of: (1) the calendar year in which you reach age 70 1/2, or (2) the calendar year in which you retire from Anchorage School District
• Experience an unforeseeable emergency within the Plan guidelines
• Sever employment (as defined by the Internal Revenue Code)
• Reach age 70 1/2
• Death (upon which your beneficiary receives your benefits)

• Required Minimum Distribution - You are required to take your first required minimum distribution by April 1 of the calendar year following the later of: (1) the calendar year in which you reach age 70 1/2, or (2) the calendar year in which you retire from Anchorage School District
• Permanent disability
• Financial hardship (as defined by the Internal Revenue Code and your Plan's provisions)
• Severance of employment (as defined by the Internal Revenue Code)
• Attainment of age 59 1/2
• Death (upon which your beneficiary receives your benefits)

In-Service Withdrawal

Unforeseeable emergency or attainment of age 70½.

Financial hardship or attainment of age 59½.

Rollover Provisions

Approved balances from eligible governmental 457(b) plans only. 2

Approved balances from a 401(k), 403(b) or eligible governmental 457(b) plan or IRA. 2

Penalty on Early Withdrawals Before Age 59½

No. 2

Yes, unless an exemption applies.

Plan Fees

No annual fee. Please see investment returns for fund operating expenses. 3

No annual fee. Please see investment returns for fund operating expenses. 3

Commissions, Loads or Payout Fees

None.

None.