Benefit
Retirement Plan - Defined Contribution 401(a) Plan
Who Pays Hospital
Who Is Eligible All employees hired on or after 1/1/2010, who work a minimum of 1,000 hours during the qualifying period
Effective Date The following January 1st or July 1st upon completion of eligibility requirements
Coverage 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
Who Pays Employee
Who Is Eligible All employees
Effective Date Upon employment
Coverage Provides tax deferred savings programs with a variety of investment options
Contribution Retirement Plan (VSP)
Who Pays Hospital
Who Is Eligible Regular FT and PT employees
Effective Date Two years following employment
Coverage Hospital contributes to your tax deferred savings program; employee contribution is also required.
Higher Education - 529 Savings Plan
Who Pays Employee
Who Is Eligible All Employees
Effective Date Upon employment
Coverage Provides tax deferred savings and tax free withdrawals to pay for your families' qualified higher educational expenses.
Benefit Who Pays Who Is Eligible Effective Date Coverage
Retirement Plan - Defined Contribution 401(a) Plan Hospital All employees hired on or after 1/1/2010, who work a minimum of 1,000 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 Benefit Eligible 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.