403 (b) Retirement Plan with Transamerica
All regular full and regular part-time employees who are at least 18 years of age are eligible to participate in the Plan. Excluded from participation are Temporary On Call Employees, PRN Employees, Temporary Relief Employees and Temporary i.e. Interim Employees.
When is my entry date?
Eligible employees are able to make elective deferrals after their first pay period by enrolling with Transamerica via the online enrollment process.
When is my entry date for receiving employer contributions?
PHS contributes 3% of salary for eligible employees after 90 days of employment. In addition, after 90 days Piedmont will match regular employee contributions up to 3% of compensation in the period the contribution is made. If no contribution is made in a given period, no matching funds will be deposited.
How much can I save? Your 2020 contribution opportunities
Basic salary deferral limit: $19,500 in 2020.
Age 50+ Catch-up: If you are age 50 or older, you may be eligible to defer up to an additional $6,500 in 2020.
Click on the following link for your 2020 IRS Pension Limits:
Your contributions are 100% vested immediately. Vesting of the Employer Contributions begins each calendar year and is credited based on 1000 hours of work in a plan year (January to December).
You will be fully vested in the PHS contributions to the retirement program after completing five years of service.
|Years of Service||Vesting Percentage|
|Less than 2 years||0%|
|5 years or more||100%|
Enroll in and manage your Retirement Plan
Enroll in the plan or check your balance anytime, day or night, by going online at piedmonths.trsretire.com or
For retirement counseling services contact:
The Piedmont Healthcare Services HR Department can be reached at firstname.lastname@example.org
919-537-7483 – Office
919-537-9201 – FAX