NP with pension retirement plan?

Trauma Columnist · Mar 19, 2015

Pensions are few and far between. None of the hospital systems in my area offer pension anymore - its all 401k.

MrChicagoRN, RN · Mar 19, 2015

Agreed. Actual pension plans are becoming rarer in America. We don't know where you live, so no one can throw out too many names, other than to look at the bigger systems and the VA.

A 401K/403B with a matching program is what you will usually find.

Jules A, MSN · Mar 19, 2015

Agreed. Actual pension plans are becoming rarer in America. We don't know where you live, so no one can throw out too many names, other than to look at the bigger systems and the VA.
A 401K/403B with a matching program is what you will usually find.

Nope, VA doesn't either. They have a generous match for their FERS which is more of a 401k/403B but to the best of my knowledge no more pension.

Advanced Practice Columnist / Guide · Mar 19, 2015

Depending on where you live, state employment may still offer a pension (California still does). Large healthcare corporations also still offer them (i.e., Kaiser Permanente).

kellyjnurse · Mar 23, 2015

Thank you for your replies. I just wonder if there are any California state facilities that offer pension besides the correctional facilities?

Advanced Practice Columnist / Guide · Mar 24, 2015

All five University of California Medical Centers (LA, SF, SD, Davis, Irvine) have similar benefits including a pension plan. The pay scale and health insurance options are different for each of the campuses (due to cost of living and market differences). UC campuses hire NP's for both in-patient and out-patient roles.

Advanced Practice Columnist / Guide · Mar 24, 2015

You could also look into county facilities and they do offer an employee pension plan. California has large county facilities that encompass trauma, in-patient and community-based care and I know NP's that work in them such as San Francisco General Hospital, Alameda Health System (Highland Hospital in Oakland is part of this), LA+USC and Harbor-UCLA Medical Center, Santa Clara Valley Medical Center.

Jules A, MSN · Mar 24, 2015

I don't really get the allure of a pension plan especially because in my experience the places that offer one usually pay terrible wages. Why not get a decent paying job, max out your 401k/b or whatever they offer and invest the rest of your money on your own for retirement?

Advanced Practice Columnist / Guide · Mar 24, 2015

I can't speak for all facilities in general but some public institutions that offer pension plans in the SF/Bay Area actually have higher salaries than the private sector. Even a private corporation such as Kaiser Permanente pays NP's (and physicians) better than most places. Employees in such places also have the option of a 403 (b) plan in addition to pension. This is likely a phenomenon that only exist in California and it could be the dirty phrase called "collective bargaining".

Jules A, MSN · Mar 24, 2015

I can't speak for all facilities in general but some public institutions that offer pension plans in the SF/Bay Area actually have higher salaries than the private sector. Even a private corporation such as Kaiser Permanente pays NP's (and physicians) better than most places. Employees in such places also have the option of a 403 (b) plan in addition to pension. This is likely a phenomenon that only exist in California and it could be the dirty phrase called "collective bargaining".

I'd be all over that sweet set up.

kellyjnurse · Mar 26, 2015

Thank you soooo much for all of your replies. It is highly appreciated!!!

Does California Community Colleges offer pension too, you think?