HSHS Funded Pension Benefit

Colleagues hired on or after July 1, 2014 are enrolled in the HSHS Pension Plan with a Cash Balance Benefit. Participation in the pension plan is automatic and HSHS pays the full cost. HSHS credits your account each year with:
  • Contribution credits equal to 3% to 7% of your eligible pay, depending on your years of service (credits increase as your service increases). 
  • Interest credits based on the 10-year Treasury rate (reset annually), with a minimum of 3% and a maximum of 6%.
To receive the HSHS pension, colleagues must work at least three years of 1000 each year in order to receive a year of credited service. After three years you are considered vested in the pension plan and will have a benefit upon retirement or separation. 

You can take your vested Cash Balance Benefit with you as a single payment (lump sum) when you terminate employment with HSHS. Or, you can delay payment until a later date. You can also elect to receive your benefit as a monthly lifetime annuity starting at any time (at any age) following your termination of employment. 

The following colleagues are not eligible for the HSHS retirement program:
  • Colleagues who are members of a collective bargaining unit whose contract does not provide for membership in the HSHS Pension Plan. 
  • Temporary or leased colleagues, as classified by the Internal Revenue Service. 
  • Medical residents are not eligible for Pension Plan benefits. However, they can participate in the non-matching HSHS 403(b) retirement savings plan. 

Retirement Blurb

403b Matching Contributions with Transamerica

HSHS will also make matching contributions to your 403b retirement savings plan with Transamerica. HSHS will match 50¢ for every $1 you save on the first 4% of your eligible pay.

Colleagues must work at least 1000 hours in a calendar year and be an active colleague as of December 31 of that year in order to receive the matching contribution. 

Retirement Plan Resources:

Get Help Planning for Retirement - 403(b) Retirement Savings Plan with Transamerica

Meet with a Transamerica Retirement Solutions retirement planning consultant to learn how your retirement plan can help you achieve your retirement savings goals.  

Click here to schedule your appointment today!

*Not available to colleagues of Prairie Cardiovascular Consultants.