Retirement (if hired after 2012)
Our Retirement plans, provided by Fidelity, help you save for your future.
The plan you participate in depends on your hire date. This page provides information for associates who were hired on or after January 1, 2012, or are part of a newly-eligible participating group.
If you are a participant in the Employees' Retirement Plan of MedCentral Health System, you can access your benefits either online at ohpension.com or by calling the OhioHealth Pension Resource Center at (844) 340.4801.
Your Retirement benefit consists of two parts:
- Retirement Savings Plan 403(b)/401(k), a tax-deferred way for you to save for retirement and reduce your current taxes, while receiving additional matching contributions from OhioHealth
- OhioHealth Annual Retirement Contribution (ARC), provided at no cost to you
Are you a Berger Hospital associate?
If you’re a Berger Hospital associate contributing to OPERS plan, OhioHealth also contributes to OPERS on your behalf. In addition, you can participate in the OhioHealth Retirements Savings Plan 403(b)/401(k). You will not be eligible for the OhioHealth matching contribution or the Annual Retirement Contribution (ARC).
Retirement Savings Plan 403(b)/401(k)
This part of your Retirement benefit is a tax-deferred way for you to save for retirement and reduce your current taxes, while receiving additional matching contributions from OhioHealth.
You are eligible to begin contributions to the Retirement Savings Plan on your hire date, and eligible for matching contributions from OhioHealth once you start making contributions.
When you begin contributions, a Retirement Savings Plan account is set up for you. You choose how much to save through payroll deductions .
You can also save using after-tax Roth contributions — and they are eligible for the OhioHealth matching contribution, just like your before-tax contributions. When you withdrawal eligible Roth money from your account after age 59½, your Roth contributions and and earnings on that money are not subject to income taxes.
OhioHealth helps you save
OhioHealth will make a matching contribution equal to 50¢ for every $1 you contribute, up to:
- 2% of your annual pay on a before-tax basis if you have less than 20 years of Retirement plan service
- 3% of your annual pay on a before-tax basis if you have 20 or more years of Retirement plan service
The OhioHealth matching contribution is deposited into your account each pay period. At the end of each calendar year, we’ll perform a calculation to look at your total contributions, and your total match. If necessary, we’ll make an additional “true-up” matching contribution to ensure you receive the maximum match for which you are eligible.
Invest to grow
You have a variety of options for investing your and OhioHealth’s contributions to grow your account. Find out more on the Fidelity website.
Matching Contribution ownership (“vesting”)
You become vested in (own) your matching contribution if you received a matching contribution for 2017 or prior years. Otherwise, you become vested in your matching contribution after completing three calendar years of service for which you are paid for 1,000 or more hours.
OhioHealth Annual Retirement Contribution (ARC)
This part of your Retirement benefit is paid for by OhioHealth, at no cost to you. Like a savings account, it grows steadily each year through OhioHealth contributions and investment returns.
You automatically become eligible for the Annual Retirement Contribution (ARC) on January 1 after you meet the following requirements:
- You started to work for a participating OhioHealth entity on or after January 1, 2012;
- You are at least age 20½; and
- You have completed at least six months of service.
OhioHealth saves on your behalf
OhioHealth makes an Annual Retirement Contribution to your account for each calendar year for which you are paid for 1,000 or more hours. You must be employed by OhioHealth on December 31 of that year to receive the contribution.
The contribution is a percentage of your pay based on your age and your years of service, as of December 31 each year.
|Your age + years of service on December 31||OhioHealth Annual Retirement Contribution (ARC)|
|Less than 40||2%|
|80 or more||5%|
The OhioHealth Annual Retirement Contribution (ARC) is deposited into your Retirement Savings Plan account on an annual basis in the first quarter of the following year — typically in March.
Contribution ownership (“vesting”)
You become vested in (own) the OhioHealth Annual Retirement Contributions (ARC) after completing three calendar years of service for which you are paid for 1,000 or more hours.
Planning for retirement?
‘Getting Ready to Retire’ education sessions support your retirement planning process and help make your transition into retirement a successful one. This program is held throughout the year for our associates who have reached retirement age/eligibility. In the session, you will learn about:
- The process of retiring at OhioHealth
- Your payment options under the OhioHealth Retirement plans
- How and when to file for your Social Security benefits
- Your investments before and after retirement
A schedule of sessions can be found on the Benefits page on eSource under Retirement.
How to make the most of this benefit
- Use Fidelity’s calculators to help decide how much to save for your future
- Change your contributions at any time on the Fidelity website
- Research or change your investment options for your Retirement Savings Plan account
- Schedule a one-on-one consultation with a Fidelity Retirement Planner either in person or over the phone