The HSHS Retirement Program has multiple elements that reflect both the HSHS commitment to make significant employer contributions to your retirement savings and the opportunity for you to meet your own savings goals. 

The HSHS retirement program includes the:

• HSHS Employer Contribution Retirement Plan (“401(a) Plan”), consisting of HSHS employer contributions only. In this plan, HSHS contributes to your retirement savings whether you are able to or not. Your participation/enrollment in the 401(a) Plan is automatic. The HSHS employer contribution ranges from 3%-7% of your eligible pay based on your years of service. 
• HSHS 403(b) Retirement Savings Plan (“403(b) Plan”) with matching contributions from HSHS. You can elect to contribute to your own retirement savings and HSHS will match 50¢ for every $1 you save on the first 4% of your eligible pay. 

You direct how your accounts in the plans are invested by choosing from the investment options offered by Fidelity Investments, the recordkeeper and investment provider.

The HSHS Employer Contribution Retirement Plan (401(a) Plan) is an important source of your overall retirement income – funded entirely by HSHS. It rewards your service with higher contributions as your years of service increase and forms the foundation of the retirement income you build. If eligible, you are automatically enrolled.

Your 401(a) Plan account grows through:

• HSHS contributions of 3% to 7% of your eligible pay, depending on your years of service.
• Investment earnings.

You are fully vested (100%) in all contributions after three years of vesting service. HSHS service prior to becoming a participant in the 401(a) counts towards your contribution percentage and your vesting service. 

How HSHS Contributions Work
You earn a year of service for both vesting and your contribution percentage for each calendar year you are paid for at least 1,000 hours. To receive the annual contribution, you must be actively employed by HSHS on December 31 of the plan year and have worked at least 1,000 hours during the plan year, unless you terminate with HSHS after reaching normal retirement age (65), die or become disabled (as defined by the plan).

• A 403b tax deferred annuity is a retirement savings program that allows eligible HSHS colleagues to set aside a portion of their income on a pre-tax basis.
• It is also known as a Tax Sheltered Annuity (TSA).
• This reduces current federal income taxes, and, in most states, state income tax.
• The 403b retirement plan is a convenient way to save for retirement through payroll deduction and offers flexible options for receiving your money when you retire.

A Roth contribution to your retirement savings plan allows you to make after-tax contributions and take any associated earnings completely tax free at retirement - as long as the distribution is a qualified one. A qualified distribution, in this case, is one that is taken at least five tax years after your first Roth 403(b) contribution and after you have attained age 59½, or become disabled or die. Through automatic payroll deduction, you can contribute between 0% and 100% of your eligible pay as designated Roth contributions, up to the annual IRS dollar limits.

For calendar year 2025, the maximum elective contributions are projected to be:

• For a participant who is under age 50, the maximum contribution is $23,500.
• For a participant who is age 50+, the maximum contribution is $31,000.

• HSHS contributes 50 cents for every dollar you contribute on the first 4% of your eligible pay (pay shown on your W-2 statement plus any pre-tax contributions you make for benefits, including the 403(b) Plan; subject to IRS limits, $350,000 in 2025). 
• Contributions that are made in each calendar year in which you are paid for at least 1,000 hours are matched, as long as you are actively employed on December 31 of that year.
• The maximum match you can receive in a calendar year is 2% of eligible pay.
• Colleagues terminating employment during the year due to death, disability, or after reaching age 55 are also eligible to receive matching contributions.

If you have not already selected your beneficiaries, or if you have experienced a life-changing event such as a marriage, divorce, birth of a child, or a death in the family, it’s time to consider your beneficiary designations. Fidelity’s Online Beneficiaries Service offers a straightforward, convenient process that takes just minutes. To make your elections, click HERE, then click on the “Profile” link, then select “Beneficiaries” and follow the online instructions.

• Access Fidelity NetBenefits NetBenefits.com/atwork to review all the information provided to assist you in making your investment decisions.
• You may also contact Fidelity at 800-343-0860 and ask to speak to an investment representative.
• You can also research the funds on your own or with your financial advisor.

• To encourage early investing and simplify the 403(b) Plan enrollment process, all eligible HSHS colleagues hired or rehired with HSHS on or after July 1, 2014 are enrolled automatically at a 4% of pay contribution level after 60 days of employment.
• Unless you choose otherwise, your contribution level will continue to increase by 1% each year until you’re eventually contributing 8% of your pay.
• These automatic contributions will be invested in the Vanguard Target Retirement Funds based on your date of birth, unless you choose different investment options.
• You can increase, decrease, or stop your contributions at any time.

You are permitted to roll over eligible pretax contributions from another 401(k) plan, Roth 401(k) plan, 401(a) plan, 403(b) plan, Roth 403(b) plan, governmental 457(b) retirement plan, or a Roth 457(b) retirement plan account or eligible pretax contributions from conduit individual retirement accounts (IRAs). A conduit IRA is one that contains only money rolled over from an employer-sponsored retirement plan that has not been mixed with regular IRA contributions.

Additional information can be obtained online, or by calling the Fidelity Retirement Benefits Line at 1-800-343-0860.