Pension & Tax Deferred Annuities (TSA) |
 |
| BENEFIT |
WHO
PAYS |
WHO IS
ELIGIBLE |
EFFECTIVE DATE |
COVERAGE |
| RETIREMENT PLAN - DEFINED BENEFIT PLAN |
Hospital |
All employees who work a minimum of 1000 hours during the qualifying period |
The January 1st closest to the completion of 6 months of service |
Benefits based on age, salary, length of service and vesting. Can be provided as early as age 55. 100% vesting after 5 years of service; totally funded by hospital; once vested, retirement funds are guaranteed. |
| 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. |
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