Pension

I worked for many years at a hospital in Northeastern Ohio and became vested in their pension plan. It was done through the hospital association in the state and it is still there and growing although I have moved all around the country since and am currently out here in California. I get letters from this pension plan from time to time as long as I tell them my new address. However, sometimes I've forgotten, but I think they find me through the state board of nursing. I worked with many nurses who stayed on as employees in order to get vested in the plan. It used to be 10 years, but was later dropped to 5 years. My mother retired from this hospital and receives her pension from them on a regular basis including health care coverage.

Did you have some specific questions about this kind of pension plan?

Yes, my hospital has a pension plan in addition to a 401k.

I once worked for a hospital that had a pension plan. I became vested after working there for 5 years. I had wanted to leave after about 4 years, but would have received nothing if I hadn't stayed that last year. That's why I prefer the 403B plans that are yours to keep immediately (or almost immediately).

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