On December 8, Texas Children’s posted the 2017 Pension Plan deposit into the account of eligible employees. To see how much your pension plan has grown, log into your Mercer account. For new users, you may register by clicking on “Get Started.” On the Mercer website, you will also find useful tools to help you view your balance, estimate your future pension plan balance and verify/update your beneficiary information.
This pension plan is designed to provide a foundation for your retirement and is fully funded by Texas Children’s. You are automatically enrolled in the plan on April 1 or October 1 once you reach 21 years of age and have worked 1,000 hours or more during the 12 consecutive months after your initial date of hire. Contributions are vested according to the schedule shown in the image above.
To learn more about Texas Children’s Pension Plan, visit our Benefits website or call 800-752-8230 to speak with a Mercer representative.
Texas Children’s 403(b) Savings Plan
The IRS has increased the retirement contribution limits for 2018. The maximum amount an employee can contribute to their Texas Children’s 403(b) Savings Plan during 2018 is $18,500. Employees turning age 50 or over can contribute an additional $6,000 during 2018.
Texas Children’s matches 50 percent on the first 6 percent of your pre-tax contributions per pay period, to a maximum of $8,250 for 2018. Employer contributions are vested according to the schedule shown in the image above.
If you are not already enrolled in the 403(b) savings plan or not contributing at least 6 percent, you should consider doing so now. To update your contribution elections or to enroll, please visit the Fidelity NetBenefits to access your online account. If you are registering online for the first time, please click on “Register as a new user” in the log in area.
To learn more about Texas Children’s 403(b) Savings Plan, visit our Benefits website or call 800-343-0860 to speak with a Fidelity representative.