do nurses get employer sponsored pensionplan?

  1. 0
    Pardon my ignorance but about a decade ago, as far as i know the hospitals are not offering employer sponsored pension plan to nurses. Yeah, you can participate in 401K or the IRA but it's the employee who has to make contributions to his/her retirement.

    I just went for an interview with an insurance company and i was surprised to hear that they are offering a pension plan where they make 100% of the contibutions for the employees retirement. Is this the norm now where all/most nurses get this type of pension plan? Do you have it in hospitals or is this only common in the managed care industry or non-hospital setting?
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  3. 23 Comments so far...

  4. 0
    I've never seen one in any hospital I have ever been in. They may match 4-6% in 401K but that is the best I've seen. Gonna be a bunch of broke retired nurses, me included!
  5. 1
    Yes some hospitals offer a defined benefit pension. My hospital offers 1% of the average of your highest three year pay for each year you worked for them. We pay nothing for this pension. The last hospital announced the dropping of their pension plan 3 days after obtaining Magnet certification.
    Altra likes this.
  6. 0
    We have a 403B plan that we pay into and our company has also a profit sharing plan that is 100% employer contribution. The profit sharing plan is optional, you have to sign up for it and believe or not some don't!
  7. 0
    Quote from lily1289
    Pardon my ignorance but about a decade ago, as far as i know the hospitals are not offering employer sponsored pension plan to nurses. Yeah, you can participate in 401K or the IRA but it's the employee who has to make contributions to his/her retirement.

    I just went for an interview with an insurance company and i was surprised to hear that they are offering a pension plan where they make 100% of the contibutions for the employees retirement. Is this the norm now where all/most nurses get this type of pension plan? Do you have it in hospitals or is this only common in the managed care industry or non-hospital setting?
    They are rare, but they exist. My union contract has one but the hospitals have been trying to get rid of it every time a contract is renewed.
  8. 0
    we have a 403 b and a pension plan. 3 years to be vested for the 403 and five years to be vested for the pension. i imagine it is facility specific
  9. 0
    Quote from FLArn
    We have a 403B plan that we pay into and our company has also a profit sharing plan that is 100% employer contribution. The profit sharing plan is optional, you have to sign up for it and believe or not some don't!
    Maybe they learned from the Enron employee's, when you invest in the company you work for , you run the risk that if they go out of business you lose your investment as well as your job . Although profit sharing sounds good , it does have this major downside .
  10. 0
    How is there a downside? I contribute nothing, the company puts in 100%. I am free to invest my money however I please. The profit sharing is extra for me. I am not counting it in my retirement plan. When I get ready to retire, it is extra if I get it and no loss if I don't.
  11. 0
    Ours is like some others mentioned where the employers will match up to 4%
  12. 1
    In addition to the 401K/403B, Every hospital I've worked at has also had non-contributory pension plans.

    All non-profits, all non-union. All fully vested.
    Altra likes this.


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