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.
401(k) Retirement Plan
Plan 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.
Contributions:
NVRH contributes to your 401k Retirement Plan in 2 ways:
- NVRH makes an automatic 3% contribution to every employee’s 401k Retirement Plan. This contribution is called the “Employer Safe Harbor Non-Elective Contribution”.
- NVRH also makes a 1.5% match when an employee contributes at least 2% of their own salary to their 401k Retirement Plan.
An employee will receive a total of 4.5% from NVRH when they make a pre-tax contribution of at least 2% to their own 401k Retirement account.
All employees initially are automatically enrolled at a 2% contribution level. There is also an automatic annual increase service which increases your own contribution annually. You can turn off this service at any time.
Roth: (post-tax) deferrals are allowed.
Vesting: 100% immediate on all types of contributions.
Individual Contribution Limit (plan year limit) Effective 2025: $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 2024. Starting in 2025, employees ages 60 to 63 will have a higher catch-up contribution limit—$11,250, instead of $7,500.
Rollovers from Other Qualified Plans:
Rollovers are allowed from 401k to 403b and vice-versa.
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
Betty Ann Gwatkin ext. 7416
Chief Human Resources Officer
Heather Spinney ext. 7312
Director of Talent Acquisition
Forms and Plan Documents
NVRH has partnered with SmartConnect™, an exclusive, no-cost program created specifically to connect Medicare-eligible working adults to the world of Medicare benefits. Whether an employee plans to continue working or is transitioning to retirement, we tailor solutions designed around their needs. Our agents provide an unfiltered view of the entire range of options and prices available to the employee.
SmartConnect Contact Information
For more information or to get started, please click on the following link: https://gps.smartmatch.com/nvrh
Video – Medicare 101
