| How is
my ability to have an IRA impacted by my participation in the pension plan? |
Your ability to make pre-tax contributions to an IRA is
reduced or eliminated because you are a participant in
an employer-provided retirement plan, regardless if you
are or are not vested in the plan. |
| Are contingent
or temporary employees eligible for the new retirement program? |
Anyone who
is considered an "employee" of Trinity Health, no matter how much they work, what
age they are, or what they are called (e.g. contingent, on call, part-time, temporary,
etc.), are eligible for the pension and savings plans. However, if they don't
work enough hours to get vested, they won't receive a benefit from the plans other
than their voluntary contributions to the Retirement Savings Plan. |
| Is there
anyone who is not eligible to participate in the Pension Plan? |
All active
employees are eligible to participate in the Pension Plan unless they are covered
under a collective bargaining agreement which does not include participation in
the plan or are excluded per the plan document.
Exceptions include:
- employees who, prior to January 1, 1996, elected not to be active participants,
- members of the Sisters of Holy Cross, the Sisters of Mercy Regional Community
of Detroit, and Sisters of St. Felix,
- leased employees or independent contractors
Note: Election to participate by certain Religious Personnel
is made at time of hire.
|
| How long
do new hires have to wait to begin participating in the Pension Plan? |
All eligible new hires become a
participant in the Pension Plan beginning their date of hire. There is no waiting
period. |
