Things to Consider

Irrevocable elections

Once the annual open enrollment window is closed, your deferral elections are irrevocable and cannot be changed until the next annual open enrollment window. You may want to consult with your personal tax advisor or financial planner prior to enrolling in the Plan.

Tax implications

Deferrals

• Your deferrals are not subject to federal or state taxes at the time of deferral.
• The taxable wages shown on the W-2 form you receive from Juniper at the end of each year will be reduced by the amount of the deferrals you made during the calendar year. However, Social Security and Medicare taxes will be withheld on amounts you defer.
• You will not pay income taxes on your deferrals, or on any earnings, until they are distributed to you.

Distributions

• Any distributions (including distributions for an unforeseeable emergency), will be subject to mandatory federal and state taxes.
• At the end of the calendar year in which you receive a distribution, you will receive an IRS Form W-2 from Fidelity Investments showing the amount of your distribution and taxes withheld. You will need to report the distributions as "wages" income on your tax return.
• You may have to pay taxes to the state you lived in while you made your deferrals. You may want to consult a tax advisor to fully understand your tax situation and tax obligations.