HSHS Retirement Program

The HSHS retirement program provides a comprehensive retirement benefit designed to help you build financial resources for your future. The HSHS retirement program includes a Pension Plan and a 403(b) Retirement Savings Plan.

Your hire date determines the retirement program in which you are eligible:

  • HSHS colleagues hired prior to July 1, 2014 are eligible for the:
    • HSHS Defined Benefit Pension Plan that allows you to earn a benefit based on a defined benefit formula using your pay and years of service.
    • HSHS 403(b) Retirement Savings Plan that provides an opportunity to build on your pension benefit through your contributions and investment earnings.
  • HSHS colleagues hired or rehired on or after July 1, 2014 are eligible for the:
    • HSHS Pension Plan with a Cash Balance Benefit, which features an account balance that shows the value of your accumulated benefit. HSHS credits your account each year with contribution credits and interest credits.
    • HSHS 403(b) Retirement Savings Plan with matching contributions from HSHS.

Participating in the Plan

All colleagues of the designated Affiliates of Hospital Sisters Health System are eligible for the Retirement Plan except:

  • Temporary or leased colleagues, as classified by the Internal Revenue Service.
  • Colleagues who are members of a collective bargaining unit whose contract provides for membership in another retirement plan.

In addition, medical residents are not eligible for HSHS Pension Plan benefits. However, they can participate in the non-matching HSHS 403(b) Retirement Savings Plan.