Retirement

Retirement Plan
All Community Medical Centers' employees are eligible to enroll in Community's retirement plan, after working 1,000 hours in 12 months immediately preceding semi-annual enrollment. Employees will contribute 2% after-tax and Community will contribute 4%. Community assumes the investment risk on an employee’s behalf so their account balance will never drop. Upon retirement, employees have the money they contributed, the money Community contributed and the interest earned. Employees become vested after three years if they work at least 1,000 hours in each calendar year. Employees also may take their account balance with them if they leave Community before retiring.

Supplemental Savings Programs
All employees are eligible to participate in a 403(b) Tax Sheltered Annuity Plan (TSA) immediately upon hire and they may contribute in two ways; pre-tax option and/or after-tax through a Roth option. Contribution limits are set by the Federal Government annually. There are catch-up provisions for those who are 50 years or older or have at least 15 years of continuous service with Community.