Every day, you commit yourself to caring for the health of our patients and their families — and through that commitment you strengthen the communities we serve. We want you to feel the same pride for your own financial well-being as you have for the quality care you deliver and the support you provide to others.
Atrium Health Floyd 401(k) Retirement Savings Plan and 401(k) Roth Savings Plan
Eligibility
Atrium Health Floyd’s 401(k) savings plan and 401(k) Roth savings plan provide convenient ways to save money for retirement.
All teammates who are at least 18 years old are eligible to defer compensation immediately.
Teammates who are at least 18 years old, have completed 90 days of service are eligible for Atrium Health Floyd’s matching contribution.
Contributions — Atrium Health Floyd teammates may choose to make before-tax or after-tax contributions from one percent of eligible pay up to the annual federal limits. Teammates decide a contribution percentage, and Atrium Health Floyd matches it according to these guidelines:
New teammates may contribute immediately to the Atrium Health Floyd 401(k) plan. However, to receive an Atrium Health Floyd match, you must meet eligibility requirements.
Enroll in 401(k)
Learn more on the Transamerica website at https://www.transamerica.com/portal/.
TransAmerica Retirement Solutions (TRS)
888-676-5512
Cannon Financial Planning services:
(Schedule a financial wellness coaching session or access financial wellness resources)
Atrium Health Floyd, partners with Cannon Financial Strategists, to offer all Atrium Health Floyd employees confidential, unbiased and independent financial advice. Cannon advisors are on campus periodically throughout the year with the objective of evaluating your retirement plan and implementing any necessary changes. Cannon advisors’ advice includes, but isn’t limited to:
Includes contributions from both teammates and Atrium Health Floyd. Funds from the HSA are used to pay for eligible healthcare expenses. This includes prescription medications, vision and dental expenses, office visits, deductibles and co-insurance. HSA contributions and earnings are not taxed when the dollars are deposited or when the teammate takes them out for healthcare-related expenses. Teammates have investment options, similar to the 401K plan, once the account balance reaches $1,000.
Atrium Health Floyd will help you fund your retirement by contributing dollars to your 401K and HSA accounts.
| Teammate: | HSA |
| Pretax contributions | $4,150 Teammate Only | $8,300 Family (Includes teammate and Atrium Health Floyd contribution) |
| After-tax contributions | Yes |
| Catch-Up | $1,000 (at age 55+ in for 2023) |
| Earnings | Not taxed if used for qualified health expenses |
| Atrium Health Floyd: | HSA |
| Company Contributions |
Seed contributions: $500 Teammate Only; $1,000 Family LiveWELL Incentives up to $175 Teammate Only; $350 Family |
| Vesting | Immediate 100% |
This refers to withdrawing money from your account and can be requested upon retirement, when you leave Atrium Health Floyd or become disabled. The plan document and IRS rules govern when you or your beneficiaries must begin receiving a distribution.
