USA Health Care Management

1. Defined Contribution Plan - Matching Retirement Plan

USA Health provides a defined contribution plan which enables employees to use pre-tax income to contribute to their retirement. Participation is voluntary. The plan currently matches employee contributions dollar for dollar up to 5% of earnings, up to an annual employer contribution allowed by the IRC Section 401(a)(17) of $17,250. This plan allows eligible employees to invest in fixed and variable annuities and mutual funds in a tax-deferred account.

Eligible employees will be fully vested in the employer matching contributions when completing 3 years of service. A year of service for vesting purposes, as a vesting computation period (Plan Year), is when an employee completes 1,000 hours of service (the 3 years of service need not be consecutive).  

Employees may reduce their state and federal taxable income by contributing up to $23,000 ($30,500 if over age 50) annually.

2. Deferred Compensation Plan - 457(b)

The HCM 457(b) Deferred Compensation retirement plan allows eligible employees to defer receipt of a portion of their salary until some later date, usually at retirement or termination of employment. Contributions are made on a pre-tax basis and accumulate tax-free until withdrawal. Eligible employees can also contribute post-tax contributions to the Roth 457(b). Employees may make pre-tax contributions to the 457(b) and post-tax contributions to the Roth 457(b) subject to the combined limit set by Section 402(g) of the IRS Code. Contributions to 457(b) plans may be made instead of, or in addition to, any 403(b) contributions. Eligible employees may participate in both 403(b) and 457(b) plans in the same year, contributing up to $22,500 ($30,000 if over age 50) annually to each plan.  (Currently only available through TIAA)

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Website: www.tiaa.org/usahm
Phone: (800) 842-2776