YOUR FUTURE. YOUR CHOICE.Take action on an important decision about your Florida Health Sciences Center, Inc. Retirement Plan benefit by August 31, 2019.

Decision GuideStart Here to Understand Your Pension Plan Choice

In October 2018, Tampa General Hospital (TGH) announced the termination of the Florida Health Sciences Center, Inc. Retirement Plan (also called the Pension Plan or the Plan). TGH will now distribute Pension Plan benefits to participants and beneficiaries who make proper elections. TGH will then transfer the responsibility for any remaining Pension Plan payments and recordkeeping to a reputable insurance company. Now, as part of the Plan termination, you have the opportunity to choose how and when to receive your benefit — either as an immediate lump sum payment or as immediate monthly annuity payments. You can also take no action now and defer payment of your benefit. If you take no action now, you will receive your benefit from the insurance company selected by TGH after you terminate employment under the normal terms of the Plan. Read this guide to learn more about the payment options available to you and what you need to do during this election period.

1 Understanding Your Options

1 Steps You Need to Take

2 Things to Consider

3 Terms to Know

4 About Lump Sum Payments

6 About Immediate Monthly Annuity Payments

6 About Deferred Payment

7 Your Resources

7 Need Assistance?

8 What You Need to Do

8 Election Tips

What’s in this Guide? What Else Is in this Election Kit?

Your personalized Benefit Statement showing your payment options and benefit amounts and giving you instructions for making an election.

Important Information About Your Election, which includes detailed information about your payment options and election rights.

Reply envelope.

Page

| 1

If you have any questions, call the TGH Pension Plan Termination Support Center at 888-867-5961, between 9 a.m. and 6 p.m. Eastern Time, Monday through Friday except during holidays.

See page 7 for more resources.

Understanding Your OptionsBefore making your election decision, consider meeting with your financial and/or tax advisor so that you understand the effect of taking a Pension Plan distribution on your personal financial situation, as well as the financial planning implications and possible investment opportunities related to each option.

You have three options:1

2

3

Receive an immediate, one-time lump sum payment. You can receive your lump sum payment in cash or roll it over directly to the Florida Health Sciences Center 403(b) Plan (if you are an active eligible employee), an Individual Retirement Account (IRA) or another employer’s tax-qualified plan.

Begin immediate, monthly annuity payments now. Monthly annuity payments will be made to you by an insurance company selected by TGH. You will have several payment options, such as monthly payments for your lifetime.

Do nothing now, and receive your benefit later under the normal terms of the Pension Plan — including the option to receive it as a lump sum — from an insurance company selected by TGH. This is called a deferred payment.

Your enclosed Benefit Statement describes the lump sum and annuity payment options available to you. If you decide to take an immediate lump sum payment or immediate monthly annuity payments now, your benefit will be paid or begin by October 1, 2019, or as soon as administratively possible after that date.

Steps You Need to TakeRead all the materials in this kit and share it with your spouse if you are married. See the enclosed Important Information About Your Election for an “Explanation of Immediate Payment Forms,” “Explanation of Your Right to Defer Payment” and “Special Tax Notice Regarding Plan Payments.” Review your options carefully and consider consulting a financial and/or tax advisor. Then, if you decide to take your benefit now, make your election online by 11:59 p.m. Eastern Time on August 31, 2019 and send any paper forms or required documents in the enclosed envelope postmarked no later than August 31, 2019.

2 |

Things to ConsiderHere are some things to consider as you decide whether to elect a lump sum or monthly annuity, or wait and take your benefit at retirement. The enclosed Benefit Statement shows the dollar value of each option available to you.

What to consider...Immediate Lump Sum PaymentThe full payment of your benefit

You have more control over your retirement money, and the opportunity to select where and how to invest it.

You will have investment responsibility, and you’ll need to manage your money to ensure it meets your retirement needs.

You can combine this benefit with your other retirement savings — for example, by rolling it over to the 403(b) Plan (if you are an active, eligible employee), an IRA or an employer’s tax-qualified plan. Rollover options allow you to defer taxes and penalties. (Note that a rollover to a Roth IRA is a taxable event).

If you take your lump sum as a cash payment, it is immediately taxable and penalties may apply.

If you have enough retirement income from other sources, a lump sum benefit may allow you to leave more money to your heirs.

See pages 4 and 5 for more information on lump sum payments.

Immediate Monthly Annuity Payment A payment made at monthly intervals starting in late 2019 or early 2020

You have the benefit of knowing a check is coming each month from an insurance company and how much it will be.

Monthly benefits will be payable for your lifetime. There may also be continuing payments to your spouse after your death, depending on the annuity form of payment you choose.

You don’t have to worry about investing a large sum of money at one time. Over the long term, inflation can impact the buying power of your monthly payment —

so it may not go as far each month as you’d like. Because annuity payments are made monthly, you may not have sufficient money to

cover an unexpected, sizable financial need. Annuity payments are taxed similarly to normal income, so they are subject to

applicable tax withholdings and you pay federal and applicable state and local taxes on your benefit as you receive it each year.

See page 6 for more information on immediate annuity payments.

Deferred Payment No payment ismade now

Payment will be made by an insurance company after you terminate employment and are ready to receive your benefit under the normal terms of the Pension Plan (including the option to receive a lump sum payment). If you are an active employee and choose to defer your benefit now, you cannot begin benefit payments until you terminate employment.

Your cash balance account will continue to receive interest credits of 3.81% annually until it is paid out, with interest credited at the end of the year based on your December 31 account balance.

See page 6 for more information on deferred payments.

| 3

Terms to Know

ANNUITY

LUMP SUM

ROLLOVER

ROTH IRA

TRADITIONAL IRA

An annuity is a payment made each month for your lifetime and, if you are married, continuing payments to your spouse. The benefit can begin immediately (an immediate monthly annuity), or be delayed until some point in the future (a deferred monthly annuity). For more information, see Important Information About Your Election included in this kit.

The full payment of a participant’s pension benefit in a single amount. No further benefits are payable from the Pension Plan after the lump sum distribution is made.

The distribution from the Pension Plan that you deposit into the 403(b) Plan (if you are an active, eligible employee), an IRA or another eligible retirement plan (such as another employer’s 401(k) or 403(b) plan). A rollover to the 403(b) Plan, another eligible retirement plan or a Traditional IRA allows you to maintain the tax-deferred status of the distribution. Amounts rolled over to a Roth IRA are taxable. If you do not make a direct rollover, the law requires the intended rollover distribution to be deposited into an IRA within 60 days of the date you receive the check to qualify as a rollover.

Similar to a Traditional IRA, except that contributions are after-tax. Other special tax benefits are available if certain requirements are met. See the “Special Tax Notice Regarding Plan Payments” section of the enclosed Important Information About Your Election for these requirements.

A tax-deferred retirement account for an individual that permits individuals to set aside money each year, or roll over money from an employer’s plan or another IRA, with earnings tax-deferred until withdrawals begin at age 59½ or later (or earlier, with a 10% penalty).

4 |

About Lump Sum PaymentsA lump sum payment is a one-time payment of your benefit. If you choose to take a lump sum payment of your Pension Plan benefit, you have one more decision to make — you may either:

A BChoose a rollover. This may help you better manage these funds and plan for retirement.

You may want to consider a rollover of your lump sum payment.You can elect to roll your distribution over into the Florida Health Sciences Center 403(b) Plan (if you are an active, eligible employee), another eligible retirement plan (such as another employer’s tax-qualified plan that accepts rollovers), or an IRA. A rollover allows you to:

Bring all your retirement assets together in one place — To help you to better manage the funds, allow for investment choice and plan for retirement.

Postpone paying taxes — With a rollover, you will postpone paying taxes until you withdraw the funds. However, a rollover to a Roth IRA is taxable; you will be responsible for paying taxes when you file your return but future distributions are generally tax-free.

Avoid the early withdrawal penalty — You will also avoid the 10% penalty that generally applies for an early distribution before age 59½.

Rollover to the 403(b) Plan You can select a rollover to the 403(b) Plan if you are actively employed and eligible to participate in the 403(b) Plan. Your rollover amount will be transferred automatically to your account and invested based on your current investment elections for new contributions, if any. If you have not made an investment election for new contributions, your rollover will be invested in the applicable default fund. Taxes are not owed on the amount of your direct rollover until you withdraw the funds.

Rollover to an IRA or Another Eligible Retirement Plan You can choose a rollover to an IRA at any financial institution. Or, if you are a participant in another eligible retirement plan that accepts rollovers, you can choose a rollover to that plan. Your distribution check will be made payable to your financial institution or rollover plan so you will need to provide the information requested when you make your election. Taxes are not owed on the amount of your direct rollover until you withdraw the funds, unless you roll over to a Roth IRA.

Take the money as a taxable cash payment. OR

A ROLLOVERS

If you elect a lump sum cash payment, you’ll receive a distribution check made payable to you. The Pension Plan is required by law to withhold 20% of the lump sum amount for federal income taxes, and some states require mandatory withholding. When you file your tax returns, you may have to pay additional federal, state and local income taxes.If you are under age 59½, an additional 10% tax penalty for early distribution may be owed when you file your tax returns. (The 10% penalty does not apply to lump sums paid after you terminate employment if you will be at least age 55 in the year of termination).You may still elect to roll over your distribution within 60 days after you receive it in cash.For more information, see the “Special Tax Notice Regarding Plan Payments” section, which is part of Important Information About Your Election included in this kit.

When Will You Receive Your Immediate Lump Sum Payment?If you choose an immediate lump sum payment, your payment will be effective as of October 1, 2019, and you will receive the lump sum distribution check as soon as administratively possible (during the month of October 2019). Remember, if you choose a lump sum, consider how a rollover allows you to defer paying taxes and avoid any penalties.

B TAXABLE CASH PAYMENT

Important: Cash or Deposit Your Rollover or Lump Sum Check PromptlyYou are responsible for cashing your lump sum check — or depositing your rollover check to your IRA or other eligible retirement plan. Checks should be cashed or deposited within 60 days. If you do not cash or deposit the check within the required timeframe, your lump sum will be transferred to the Pension Benefit Guaranty Corporation (PBGC), and you will need to contact the PBGC to obtain the funds. This will cause a substantial delay in receiving your payment.

Notarized Spousal Consent If you are married, your spouse must provide written consent to your lump sum payment election, witnessed by a Notary Public. Refer to the Spousal Consent Form to see when notarization is required.

Once you receive your lump sum payment as either a rollover or cash, no further benefits will be paid to you by the Pension Plan.

Take It Now — Or Wait?As you’re considering your payment options, please carefully read the “Explanation of Your Right to Defer Payment” section of Important Information About Your Election included in this kit. That section will help you understand the impact of taking your benefit now or waiting until later.

| 5

6 |

About Immediate Monthly Annuity Payments

About Deferred Payment

The immediate annuity provides monthly payments for your lifetime and, if you choose, a life annuity continuing lifetime monthly payments to your surviving spouse after your death. Refer to your enclosed Benefit Statement to see your immediate monthly annuity options.

About the Insurance Company Providing AnnuitiesIn October 2019, TGH intends to select a reputable insurance company to provide all annuities (immediate and deferred). You may not choose the insurance company that will pay your annuity. If you choose an immediate annuity or do not make any election, you will receive a letter after the insurance company is selected with the selected insurance company’s contact information and the annuity contract number.

If you do not make an election by the August 31, 2019 deadline, your benefit will be deferred and payable by the selected insurance company.

For more information on payment forms available to you if you defer payment, at the time and in the manner you may elect under the normal terms of the Pension Plan, see the “Explanation of Your Right to Defer Payment” section in the enclosed Important Information About Your Election.

If you decide to defer payment now, how will you elect to begin receiving your benefit later?When you are eligible and want to receive your benefit in the future, you will need to contact the selected insurance company directly, and they will provide you with the materials you will need to elect the payment option you want. The insurance company will have the exclusive responsibility for benefit payments and administration. If you are an active employee and choose to defer your benefit now, you cannot begin benefit payments until you terminate employment. You must begin payments no later than April 1st of the calendar year following the year in which you reach 70 ½ or terminate employment, if later.

When Will Your Immediate Monthly Annuity Payments Begin? If you choose an immediate monthly annuity, your payments will be determined as of October 1, 2019. You will receive your first payment as soon as administratively possible from the selected insurance company. Your first payment will include any payments retroactive to October 1, 2019.

| 7

Call the TGH Pension Plan Termination Support Center at 888-867-5961 between 9 a.m. and 6 p.m. Eastern Time, Monday through Friday, except during holidays. (Note that the Support Center cannot give you financial, tax or legal advice. You may want to consult a financial and/or tax advisor before making your decision).

Need Assistance?

IMPORTANT DATES

August 31, 2019 Make your election and submit all required documentation online by 11:59 p.m. Eastern Time or mail postmarked by this date. If you do not make an election by the deadline, you will be considered (or deemed) to have elected to defer payment to a later date under the normal terms of the Pension Plan.

October 1, 2019 If you choose an immediate lump sum or an immediate annuity, your payment will be effective as of October 1, 2019 and will be made as soon as administratively possible thereafter. Your first check may not be issued until late 2019 or early 2020, with retroactive payments to October 1, 2019.Prior to October 1, 2019, you may change your mind and revoke your election and make a new election. After September 30, 2019, the form of payment you elected cannot be changed.

Planning for retirement is one of the biggest financial obligations you may have. As you consider when and how to take your benefit, it is important to understand your options — and carefully consider your personal needs. You may also consider consulting a financial and/or tax advisor before you decide which form of payment to take. Here are some resources to assist in searching for a financial planner:

National Association of Personal Financial Advisors at www.napfa.org Financial Planning Association at www.plannersearch.org Certified Financial Planner Board of Standards at www.cfp.net

You can learn more about lump sums and annuities from the Consumer Financial Protection Bureau website at http://www.consumerfinance.gov. The Pension Benefit Guaranty Corporation also has a guidance page on lump sums and annuities at www.pbgc.gov/wr/benefits/annuity-or-lump-sum.html.

Your Resources

Start Now — if you wait until the deadline, you may not have time to complete all of the required steps. You may have to take extra steps beyond submitting your election. You may need to set up an IRA, obtain spousal consent witnessed by a Notary Public and gather required documents.

If you choose a lump sum payment, decide how to receive your payment. You can choose a rollover to the 403(b) Plan if you are an active eligible employee. If you want to roll your benefit over to an IRA or another employer’s tax-qualified plan, contact your financial institution or a representative for the other plan to verify the correct name to include when you make your election. This is the name that will appear on your distribution check.

REVIEW the enclosed information — including your Benefit Statement and the Important Information About Your Election included with this kit.

THINK ABOUT YOUR OPTIONS and your financial situation, and understand the tax implications. Speak with a financial and/or tax advisor to determine the best option for you. Share the information with your spouse if you are married.

MAKE YOUR ELECTION. If you want an immediate lump sum or an immediate annuity, go to www.mypensionoption.com/tgh and follow the log in instructions. For an immediate lump sum payment, enter your election online by following the prompts. If you want an immediate annuity, click “Full Election Package,” print out your paper election form and complete it; you can then either mail your completed form or upload it to the website under “Other Documents” on the Documents page.

What You Need to Do

Election Tips

You must make your online election by 11:59 p.m. Eastern Time on August 31, 2019 and send any paper forms or required documents postmarked no later than August 31, 2019. If you don’t have online access or are unable to print a paper election form, call the TGH Pension Plan Termination Support Center at 888-867-5961 as soon as possible, preferably by August 31, 2019 to avoid a delay in payment.

If you do not want to receive your retirement benefit now, you don’t have to do anything. You can begin receiving your pension from a reputable insurance company after you terminate employment under the normal terms of the Pension Plan. If we do not receive your election by the election deadline, you will be considered to have elected to defer payment of your retirement benefit.

8 |

| 9

Actual plan provisions are contained in the Florida Health Sciences Center, Inc. Retirement Plan (Pension Plan) document. In the event of any conflict between this overview or any other written or verbal summary and the actual terms of the Pension Plan document, the specific terms of the Pension Plan document will govern. Neither your receipt of this document nor the statements and assumptions made herein create an explicit or implied contract for or guarantee or promise of continued or future employment with Tampa General Hospital.

July 2019

YOUR FUTURE. YOUR CHOICE.

A/TV