NORTHERN LIGHT HEALTH RETIREMENT PARTNERSHIP 403(B) PLAN Contribution & Employer Match

How EASTERN MAINE HEALTHCARE SYSTEMS D/B/A NORTHERN LIGHT HEALTH Supports Your Retirement Savings

EASTERN MAINE HEALTHCARE SYSTEMS D/B/A NORTHERN LIGHT HEALTH provides retirement savings benefits through NORTHERN LIGHT HEALTH RETIREMENT PARTNERSHIP 403(B) PLAN. Understanding your employer’s contribution structure is essential — it directly affects how quickly your retirement nest egg grows. Below you will find the plan’s average account values and contribution patterns based on publicly filed data.

* Data are from public filings.

Are You Leaving Dollars on the Table?

If you are not contributing enough to capture the maximum employer match, you are literally turning down part of your compensation. For many plans, this can mean thousands of dollars per year in lost employer contributions — money that would compound over decades.

Use the policy details and calculator below to find out exactly how much you need to contribute to capture every dollar of employer matching.

NORTHERN LIGHT HEALTH RETIREMENT PARTNERSHIP 403(B) PLAN Contribution & Match Policy

1. Employee Contribution Rates: Participants may defer up to 84% of their compensation.

2. Employer Match/Contribution Conditions: The employer matches 50% (100% for certain grandfathered participants) on the first 4% of the participant’s eligible compensation; 50% (75% for participants with 15 or more years of service) on the first 5% for employees of Mercy Hospital and Northern Light Home Care and Hospice; matches 25% of the first 4% for Maine Coast Hospital; 50% of the first 7% for Sebasticook Valley Hospital; 100% on the first 1% (2% for those with five or more years of service) for A.R. Gould Hospital; and 100% of the first 2% for Mayo Hospital.

3. Vesting Schedule/Eligibility: Participants are fully vested in their elective deferral account at all times and in employer contributions after three years of vesting service. Employees are eligible to participate immediately upon hire and must complete 1,000 hours of service in the 12 months following their hire date and be 21 years old to receive employer matching contributions.