What pension/medical retirement benefits to you get? - page 2

Please tell me what pension/medical retirement benefits you get from your hospital employment?? We are ready to start union RN contract negoitiations at our hospital and we know this is a big... Read More

  1. by   lindalee
    Pension, medical benefits??? Not at my hospital. I have always contributed to my 401K and also into a 403B but with the market where it is, I should have played more and saved less. I don't mind so much saving for retirement but by keeping our salaries so low, they have limited our ability to contribute adequate amounts to retire. That is a major problem in my opinion. After all someone making 100K a year can save more than someone making $50K and for sure we are worth more that we are paid. (Think about the difference of 10% of 100,000 (10,000) and 50,000 (5,000) savings. Obviously few of us can maximally fund retirement accounts. With costs of living so very high if we are to fund our own retirements we need an income adequate to allow saving without doing without owning homes, and an occasional vacation. I still think people view this as a woman's' profession and compensate it accordingly. Most nurses I know are single parents and are unable to own homes, take nice vacations and do things they might enjoy--much less trying to fund retirement. I am sure the administrators have adequate retirement benefits.
  2. by   OC_An Khe
    Pension at my facility is small, almost non existent. Currently negotiating to increase 403b employer contribution and early retirement med insurance coverage.
    One thing I agree with from previous post, Need to look out for your own retirement and not depend upon employer.
  3. by   ohbet
    Iv been working here along time,so I have a pension fund,I also invest in something called "Defered Compensation",which is mutal fund,tax defered plan,nothing matched by employer,which has really took a beating the last two years,but Ill fall back on the pension fund and if that fails,then Ill fall back on my hope of an after life.
  4. by   ohbet
    Iv been working here along time,so I have a pension fund,I also invest in something called "Defered Compensation",which is mutal fund,tax defered plan,nothing matched by employer,which has really took a beating the last two years,but Ill fall back on the pension fund and if that fails,then Ill fall back on my hope of an after life.
  5. by   -jt
    <We need to improve our upcoming contract, please help to give us some language or ideas to add that are working in your jobs.>

    1. Pensions: Take a self-guided tour of the NYSNA Pension Plan.
    http://www.rnbenefits.org/NYSNA/Pens...ion%20plan.htm

    2. Retiree health/medical benefit:

    Staten Island Hospital/NYSNA: "In an effort to retain its more experienced nurses, the hospital has agreed to provide nurses with up to $4,000 per year to pay for health care coverage after they retire".

    Columbia Presybeterian/NYSNA: "Retiree health - Recognizing that health care coverage is an important issue for veteran registered nurses, this contract will provide retiring RNs with up to $2,500 each year tax free to cover the cost of purchasing health insurance".

    Westchester Medical Center/NYSNA: "Retirement Health - Westchester Med nurses will be eligible for the state-sponsored plan that will provide them with health benefits into their retirement once they've worked at the medical center for five years."

    St Vincents/NYSNA: "Retirement - The hospital will offer nurses with 20 years of service an option to retire at age 60 with no reduction in retirement benefits. It will also provide nurses who retire after Dec. 31, 2004 with $2,500 per year to buy health insurance. Nurses will be eligible to receive this cash supplement until they become eligible for Medicare".

    Mt Sinai/NYSNA: "Retirement health coverage - Registered nurses' jobs are physically demanding and regularly place them at risk of exposure to disease. Many RNs would retire earlier than age 65, but can't afford health insurance. This contract would make health coverage available to retiring nurses age 62 with 10 years service, and would be available even after they become eligible for Medicare."

    St Catherine's/NYSNA: "Retiree health - Starting in January 2003, nurses between the ages of 60 and 65 with 20 years of service will receive $2,500 per year to purchase health insurance until they are eligible for Medicare".

close