Retirement
403(b) Retirement Security Plan
To help you and your loved ones plan for the future, we offer a 403(b) Retirement Security Plan administered by Empower. The plan enables you to put away pre-tax dollars from your paycheck through payroll deduction for your retirement goals. Newly hired employees are auto-enrolled at a deferral rate of 2%. Deferrals and the employer match for participants are 100% vested 3 years from the first day of participation if you are an HonorHealth employee hired January 1, 2022 or later. Vesting status of anyone hired before that date remains unchanged.
With the plan, you can:
- Change your contribution elections at any time.
- Cancel or resume your contribution at any time.
- Choose from a variety of investment options.
- Opt to receive quarterly statements to track your investments.
How it works
- Contributions and their earnings grow tax-free until you withdraw the money.
- You do not pay taxes on your investments annually as you would with other types of accounts.
- HonorHealth matches your eligible contributions dollar-for-dollar up to 4 percent.
- You choose how much you want to save – as little as 2 percent or as much as 50 percent of your base earnings, up to the IRS maximum.
- Please see 403(b) plan highlights for more information.
Plan overview and notices
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Beneficiary designation
When you enroll in the 403(b) Retirement Security Plan, you must designate a beneficiary for those investments.