| BENEFIT |
WHO
PAYS |
WHO IS
ELIGIBLE |
EFFECTIVE DATE |
COVERAGE |
| RETIREMENT PLAN - DEFINED CONTRIBUTION 401(a) PLAN |
Hospital |
All employees who work a minimum of 1000 hours during the qualifying period |
The following January 1st or July 1st upon completion of eligibility requirements
|
Benefits based on salary, length of service and vesting. 100% vesting after 5 years of service; totally funded by hospital. Contributions made to your account:
0-5 years: 3% of compensation
5-10 years: 4% of compensation
10-15 years: 5% of compensation
15+: 6% of compensation
|
| TAX DEFERRED ANNUITIES/403B |
Employee |
All employees |
Upon employment |
Provides tax deferred savings programs with a variety of investment options |
| CONTRIBUTION RETIREMENT PLAN (VSP) |
Hospital |
Regular FT and PT employees |
Two years following employment |
Hospital contributes to your tax deferred savings program; employee contribution is also required. |
| HIGHER EDUCATION - 529 SAVINGS PLAN |
Employee |
All Employees |
Upon employment |
Provides tax deferred savings and tax free withdrawals to pay for your families' qualified higher educational expenses. |