Retirement

What does retirement look like for you? Whether you’re planning to travel, spend more time with family, or pursue new interests, saving now can help you prepare for the future.

Washington Health offers both 403(b) and 457(b) pre-tax retirement savings plans through convenient payroll deductions, making it easy to save toward your retirement goals. Learn more by reviewing the plan highlights below.

Employer Matching Contributions 403(b) Plan
403(b) Tax Deferred Savings Program Plan Highlights
457(b) Deferred Compensation Plan Highlights

Who Is Eligible for the 403(b) and 457(b)?

Eligible benefited employees may participate in Washington Health’s 403(b) and 457(b) retirement savings plans.

Employees who contribute to the 403(b) plan and work at least 1,000 hours per year in a benefited position are eligible for the employer matching contribution. Washington Health matches contributions dollar for dollar up to 1.5% of annual compensation, subject to the plan provisions.

How Do I Enroll?

You may enroll in the 403(b) or 457(b) plan at any time.

Corebridge Financial Advisors are available in the hospital cafeteria on Tuesdays, Wednesdays, and Thursdays, or you may contact them directly to schedule an appointment. See the Plan Contacts section of your Benefits Guide for advisor contact information.

Contact

Increase Your Retirement Savings with a 403(b)

  • Washington Health will match dollar for dollar, up to a maximum of 1.5% of your annual compensation
  • Vesting is 20% per year, with full vesting after five (5) years of participation or five (5) years in a benefit status
  • Contribute using convenient payroll deductions up to the IRS limit of $24,500 per year
  • Change the amount of your contributions or stop your payroll contributions at any time
  • Decide how to invest your 403(b) or allow the plan to choose for you
  • The 403(b) contribution limit for employees age 50 or older is $32,500 per year
  • The 403(b) contribution limit for employees age 60-63 is $36,000 per year
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