JHHSC Retirement Plan (Pension)
Outside of the 403(b) savings plan, another way we help employees build financial security is through the JHHSC Retirement Plan—also known as a "defined benefit pension plan" or "pension" for short. If you are eligible for a pension, you will receive a set monthly payment during your retirement.
How the plan works
The amount you'll receive is calculated based on your years of service and the compensation you received while employed. Your benefit will generally increase with every year you continue to work with the participating employer.
Employees are automatically enrolled once you meet eligibility requirements.
Eligibility
Non-represented (non-union) employees hired prior to January 1, 2016
JHHSC/JHH pays the full cost of this retirement benefit. You become eligible to participate in the pension plan after one year of employment during which you have worked 1,000 hours or more. You become eligible for a pension benefit once you meet the 5-year vesting requirement. The amount of your pension benefit is calculated using a formula based on your JHHSC/JHH years of service and your final average earnings.
Pre-Retirement Death Benefit: A death benefit is available to all vested employees regardless of their marital status. A spouse is automatically the beneficiary. If you are not married or if you are married and you and your spouse want to name another beneficiary, you must complete the Pension Plan Beneficiary Form. You can contact the Pension Office at 443-997-3789 to request this form or download it.
Represented (union) employees
JHH pays the full cost of this retirement benefit. You become eligible to participate in the pension plan after one year of employment during which you have worked 1,000 hours or more. You become eligible for a pension benefit once you meet the 5-year vesting requirement. The amount of your pension benefit is calculated using a formula based on your JHH years of service and your final average earnings.
Pre-Retirement Death Benefit: A death benefit is available to all vested employees regardless of their marital status. A spouse is automatically the beneficiary. If you are not married or if you are married and you and your spouse want to name another beneficiary, you must complete the Pension Plan Beneficiary Form. You can contact the Pension Office at 443-997-3789 to request this form or download it.
Additional information
Looking for forms? Download all pension benefits forms, including beneficiary designation and request for estimate of retirement benefits.