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%.
In order to receive a year of credited service, you must work and be paid for at least 1,000 hours. To earn a Cash Balance benefit and to be considered vested, you must have at least three years of credited service. Once vested in the pension plan, a benefit will be payable to you 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

Matching Contributions 


HSHS will match 50¢ for every $1 you save on the first 4% of your eligible pay for contributions made to your 403b and/or Roth Savings Plan with Transamerica. 

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 employer match. 

Retirement Plan Resources:

Need Help Planning? Meet 1:1 with a Transamerica Representative 

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.