Retirement
Eligibility
Regular Full Time, Part Time and Per Diem employees are eligible on the first of the month after 30 days of service with NVRH.
NVRH 401(k) Retirement Plan
Plan Eligibility: First of the month after 30 days of service with NVRH.
Contributions: All employees receive a 3% “non-elective safe harbor contribution” from NVRH to their 401(k) plan on a biweekly basis. If an employee makes a minimum 2% pre-tax, or post-tax (Roth) contribution to their 401(k), NVRH will match an additional 1.5%. The total contribution from NVRH is 4.5% with employee minimum participation of 2%.
Vesting is 100% immediate on all types of contributions.
Rollovers from other qualified plans are allowed from other 401(k) and 403(b) plans and vice-versa.
Participant Loans are allowed, with a minimum of $1,000.
In-service withdrawals are allowed at age 59 1/2.
Hardship withdrawals are allowed for:
- Purchase of principal residence
- Prevent foreclosure of principal residences
- Repair damage to principal residence that qualifies for casualty deduction
- Payment of medical expenses
- Funeral Expenses
Roth: (post-tax) deferrals are allowed.
Individual Contribution Limit (plan year limit) Effective 2026: $23,500.
Catch-Up Contributions (plan year limits): The catch-up contribution limit for employees ages 50 and older remains at $7,500, the same amount as in 2025. Starting in 2026, employees ages 60 to 63 will have a higher catch-up contribution limit—$11,250, instead of $7,500.
High earners aged 50 and over are required to make catch-up contributions to the 401(k) on a Roth (after-tax dollars) basis. If prior years wages exceed $145,000, you must make all catch-up contributions as Roth contributions.
Save for an Emergency with Waysaver
Waysaver is the new emergency savings program from T. Rowe Price to help you build emergency savings and prepare for unexpected costs. For more information please click on the flyer button below:
Helpful Resources
T. Rowe Price Retirement
Website: www.rps.troweprice.com
Telephone: 1-800-922-9945 (business days between 7a-10p EST)
Mobile Solution: www.troweprice/mobilesolution
Questions can be directed to
RON YORK
Independent. Registered Investment Advisor
ryork@Pinnacle-Pension.com
Business: (888) 747-7680
Office: (857) 302-4110
Mobile: (617)-794-6696
Chris Allsop ext. 7415
Director, Human Resources & Benefits
Heather Spinney ext. 7312
Director of Talent Acquisition