Retirement Income Account (RIA)

Employee Contributions – Eligibility: Immediate for all paid Employees

All employees may begin contributing to the The University of Pennsylvania Health System 403(b) Retirement Savings Plan immediately upon hire. If you do not elect otherwise, 6% of your eligible pay will be deducted from your paycheck and deposited into your RIA as a pre-tax contribution after 45 days of employment with LG Health. You have the option to start, stop, increase or decrease your contribution percentage or decline participation in the Retirement Income Account at any time by logging on to netbenefits.com/uphs.

• Note: Declining participation during the first 45 days of employment does not prevent you from participating in the RIA in the future. Your 6% pre-tax contribution will be increased each July*, in 1% increments – not to exceed 10% of your pay.

*Applicable to employees hired at least six months prior.

Employer Contributions – Eligibility: Immediate for all paid Employees

In addition to your own contributions, LG Health will make pre-tax employer contributions to your RIA.

Beginning with your first paycheck, LG Health will contribute 2% of your eligible bi-weekly compensation (whether you are actively contributing or not) as an Employer Basic Contribution*. LG Health will also match your contributions, $.50 on every $1 you contribute, up to 6% of your compensation (you must be actively contributing to receive the Employer Matching Contribution).

*May differ per hiring entity.

Other Important Plan Information

You must complete three years of service, working 1,000 hours or more in each calendar year, to become 100% vested in the LG Health Employer Basic and Matching Contributions. You are always 100% vested in your own contributions.

• Hint: Your vested retirement benefits are the portion of your account that you own and are entitled to receive when you separate employment or take distributions.

Employees may contribute the lesser of 75% of eligible compensation, or $23,00 in 2024. Employees age 50 or older may contribute an additional $7,500. Employee contributions may be pre-tax or Roth (after tax); all employer contributions will be deposited pre-tax. Numerous investment options are available, including mutual funds and Vanguard Target Retirement Funds. Loans and hardship withdrawals are available if certain conditions are met.

Quick Links:
2024 Retirement Plan Contribution Limits

Accessing Your Retirement Income Account

To start, stop, increase or decrease contributions to your Retirement Income Account, log onto Fidelity’s website netbenefits.com/uphs or call Fidelity toll-free at 1- 800-343-0860.

Quick Links:
Access Your Retirement Account Online…Your Guide to Fidelity NetBenefits®

Fidelity Counselor Available – At no cost to you

Whatever your retirement goals, Fidelity has the people, guidance and investments to help you find your way. To schedule a one-on-one appointment with George Christiani, our on-site Fidelity Counselor. Click here to schedule an appointment with George or to see his contact information (email and phone). .

Unable to meet in person? Get help when and where you need it! Call 1- 800-343-0860 (not internal number, dial all numbers) for an over-the-phone consultation.

Quick Links:
Retirement Readiness Guide
Fidelity Transition FAQ

Student Loan Forgiveness

Did you know Lancaster General Health is a 501(c)(3) organization? That could benefit you if you are a patient-facing or patient care employee who has outstanding student loan debt. Why? Because you may qualify for the Federal Student Loan Forgiveness program.

To learn more, visit the Federal Student Aid website, which also offers federal refinancing, student loan consolidation, and income driven repayment plans. To discuss this important issue in person, set up an appointment with our dedicated retirement counselor, George Christiani.

Pension Plan

Eligibility

Not all employees are eligible for this retirement benefit. Eligibility in most situations means a date of hire prior to January 1, 2011, by one of the following employers covered under the plan:

• Lancaster General Hospital;
• Horizon Healthcare Services;
• LGMG, LGHP, or Twin Rose;
• Affilia Home Health;
• Lancaster General Medical Group;
• MRI Group, LLP; and/or
• Pennsylvania College of Health Sciences

Plan Information

Pension Plan details are available on netbenefits.com/uphs where you can access a summary of your retirement account(s).

Fidelity Counselor Available – At no cost to you

Whatever your retirement goals, Fidelity has the people, guidance and investments to help you find your way. To schedule a one-on-one appointment with George Christiana, our on-site Fidelity counselor click here!.