Here at Texas Children’s, we are committed to your financial well-being when you retire after your years of valued service to our patients and our organization. That is why our comprehensive Total Rewards program includes two retirement programs to help you save for your future. Here’s how you can take advantage of these retirement benefits today:
Cash Balance Pension Plan (CBPP)
This is a fully funded pension plan provided by Texas Children’s to help you save for your retirement. You are automatically enrolled in the plan on April 1 or October 1 once you reach 21 years old and have worked 1,000 hours or more during the 12 consecutive months after your initial date of hire.
For the calendar year 2015, Texas Children’s has contributed approximately $19M in the CBPP for almost 9,000 active employees. On December 1, we will post the 2015 deposit into your CBPP (for qualified employees as explained above). To see how much your CBPP has grown, log into your account at www.ibenefitcenter.com. On the website, you also will find useful tools to help you view your balance, estimate your future pension balance and verify/update your beneficiary information.
To learn more about the Cash Balance Pension Plan, click here to view the summary plan description or call the Texas Children’s Hospital Pension Plan Support Team at 800-752-8230 between 8 a.m. and 5 p.m., Monday through Friday.
403(b) Savings Plan
If you are not already enrolled in the 403(b) savings plan, you should consider doing so. You do not want to miss out on Texas Children’s 50 percent match of the first 6 percent of your pre-tax per paycheck contribution. You can enroll anytime by contacting Fidelity at 800-343-0860 or online at www.fidelity.com/atwork.
Thank you for exemplifying our core values, especially Leading Tirelessly. At every level, we inspire each other, bettering ourselves, bettering our teammates, bettering our organization, and ultimately, bettering the world.