Retirement
My 403(b) Plan Benefits
Providing a retirement plan that takes into account your financial and physical well-being is important to us. NMC partners with Transamerica to provide a 403(b) and Money Purchase Pension Plan. Employees are eligible to participate in the 403(b) upon hire.
Tax Sheltered Annuity 403(b)
NMC Employees
- All new hires will be automatically enrolled at 2% per pay perios unless opt out is elected or a different % per pay period is chosen
- Employees who are automatically enrolled and make no active changes will be automatically increased to 3% per pay period in Year 2 and 4% per pay period in Year3 for a maximum matching contribution
- NMC matches 50% of an employee’s contribution up to 4%. These contributions are 100% vested. NMC matching contributions are subject to annual review & can change
Annual Reports:
Summary of Material Modifications (SMM):
Contact Information
To change fund allocations or your deferral percentage:
800-755-5081
Access your retirement account information online:
Forms and Flyers:
My Defined Contribution Plan
Defined Contribution Plan:
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NMC contributes 3% of gross annual pay for all employees who work at least 1,000 hours during a calendar year automatically
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This plan is a defined contribution plan
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Please refer to the vesting schedule located in the Employee Benefit Center
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Contributions are subject to annual review & subject to IRS maximums
Summary Documents and Other Resources:
Contact Information
Northwestern Medical Center, Inc.
133 Fairfield St.
St. Albans, Vermont 05478
802-524-1056
TransAmerica
800-755-5801