Plan Overview

403(b) Plan

Below are the important features about the 403(b) Plan. This overview is intended to be a summary of the plan provisions. In the event that a conflict exists between the information contained within this website and the plan document, the plan document provisions prevail.

View Plan Highlights (link to highlights PDF)

Eligibility

You are eligible to participate in the 403(b) Retirement Plan immediately upon your date of hire. 
NKCH will establish an account for you in the NKCH 403(b) Plan.  Your contributions to the Plan will not start until you make an election to defer online or through Voya's Call Center.

  1. You can choose the amount you want to contribute. Pre-tax or Roth Contributions available.
  2. You can stop and start at any time.
  3. You can change your investment elections at any time.

Matching Contributions

If you are making voluntary contributions to the 403b) Plan, NKCH will match 50% up to 4% of your contributions, which is equivalent to 2% of your annual salary. This matching contribution is funded per pay period. 

The Hospital Contribution

In addition to the monthly matching contribution, if you have worked 12 consecutive months, NKCH will contribute 2% of your salary to your account regardless if you contribute to the plan or not. These dollars are put into the 403(b) account annually. You must work 1,000 hours in a calendar year (Plan Year) and you are employed on December 31st of that year (starting 12/31/2024) to receive eligible matching contributions.

Vesting

You are fully vested in your contributions and the matching contributions to the 403(b), for the Hospital Contribution, you will be vested 50% after completing 1 year of service and 100% vested after completing 2 years of service.