| What is the Trinity
Health 401(k)/403(b) Retirement Savings Plan? |
It is a Retirement Savings
Plan that allows employees to build additional retirement income with pre-tax
contributions and Trinity Health employer matching contributions. |
| I can hardly pay
my bills, how will contributing to the Retirement Savings Plan benefit me now? |
You should start saving whatever amount you can now. You
can start small (as low as $5, expressed as a percent
of your compensation or a flat dollar amount). As your
compensation increases, consider putting a portion or
all of the increase in the Retirement Savings Plan. This
is an immediate tax savings because your contributions
are coming out of your paycheck on a pre-tax basis. |
| What if I don't earn
enough to contribute to the Retirement Savings Plan? |
The Retirement Savings
plan can be an integral part of your total retirement savings. No matter what
your compensation is, you have the opportunity to save on a tax-deferred basis
and are rewarded for saving with Trinity Health's employer matching contribution. |
| Is there any difference
between the 401(k) and 403(b) Retirement Savings Plans? |
There is no difference in the savings opportunity
or payment options between a 401(k) and 403(b) plans. The 401(k) plans are in
Trinity Health taxable corporations that cannot offer a 403(b) due to legal restrictions. |
