Pension

Daytonite, BSN, RN · Dec 2, 2005

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?

Trauma Columnist · Dec 2, 2005

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

llg, PhD, RN · Dec 2, 2005

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).

llg

zacarias, ASN, RN · Dec 9, 2005

my hospital has a pension plan in addition to a standard 403b retirement plan

OC_An Khe · Dec 9, 2005

defined beenefit retirement plan and a match to a 403b.