Our partnership with Empower Retirement Plan Services has been designed to make retirement planning more convenient for you by streamlining your retirement plan benefits, with a dedicated phone number, website and committed retirement team at your service.
You can manage your Atrium Health Retirement accounts online 24/7.
For questions about your 401(k) Retirement accounts contact Empower Retirement Services at 866-247-0970.
Teammates who are at least 18 years of age and work at least 16 hours per week are eligible to participate in the 401(k) plan after three months of service. PRNs are eligible to receive Basic and Performance-Based contributions.
Contributions: Teammates have the potential to receive 7 - 8% in Atrium Health contributions.
|401(k) Contributions||Contributions||Your Contribution||Atrium and Your Contribution|
(regardless of whether you save through the plan)
|Performance-Based||1 to 2%
(based on years of service and regardless of whether you save through the plan
|Total Annual Contribution||7-8%||6% or more||13-14%|
Matching: (Teammates have the potential to receive up to 4%)
Performance-Based: (Teammates have the potential to receive 1-2%)
|If you have||Based on System Performance, your account receives:|
|Less than 10 yrs||1% of pay contribution|
|10-19 yrs||1.5% of pay contribution|
|20 or more yrs||2% of pay contribution|
Eligibility for Basic and Performance-Based contributions: You must complete 1,000 hours of service in a designated 12-month period to meet eligibility for Basic and Performance-Based contributions. You will become a participant on the last day of the month during which the 12-month period is completed. To receive Basic or Performance-Based contributions for a calendar year, you must complete 1,000 hours of service and terminate employment on or after normal retirement date or because of death or permanent disability.
This retirement savings option allows you to contribute pretax dollars.
This retirement savings option allows you to contribute Roth after-tax dollars.
This retirement savings option allows you to contribute additional pretax or Roth after-tax dollars if you are age 50 or older in the current calendar year.
Vesting means the value of retirement plan contributions and earnings that belong to you.
You will be 100% vested in basic contributions made by Atrium Health after three years of credited service.
You may borrow from your account and pay yourself back through payroll deductions on an after-tax basis with interest. You may have only one loan outstanding at any one time.
Hardship withdrawals are available for emergencies as defined by the plan.
Limited to the following:
In-service withdrawals are available for teammates age 59 1/2 years or older.
This refers to withdrawing money from your account and can be requested upon retirement, when you leave Atrium Health or become disabled. The plan document and IRS rules govern when you or your beneficiaries must begin receiving a distribution.