My 403(b) Plan Benefits

Providing a retirement plan that takes into account your financial and physical well-being is important to us. That is why NMC is excited about moving the NMC 403(b) and Money Purchase Pension Plan to a new record keeper, Transamerica on January 1st 2022. These changes will provide valuable new services and what NMC believes will be an improved retirement planning experience. 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

www.transamerica.com/portal/nmcretirement

Access your retirement account information online:

Forms and Flyers:

My Defined Contribution Plan

Defined Contribution Plan:

  • NMC contributes 3% of gross annual pay for all employees who work at least 1,000 hours during a calendar year automatically
  • This plan is a defined contribution plan
  • Please refer to the vesting schedule located in the Employee Benefit Center
  • 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

www.transamerica.com/portal/nmcretirement