Geisinger-Lewistown Hospital Defined Contribution Plan (also called a 403b or Tax Sheltered Annuity (TSA) Plan) provides for employer and voluntary employee contributions. Geisinger-Lewistown Hospital employees may make voluntary employee contributions. The plan’s Employer contributions only apply to Non-Bargaining and United Steelworkers’ bargaining unit employees. Voluntary contributions can be made immediately upon hire and are fully vested. To be eligible for the employer paid contribution you must be age 21, be employed one year, work 1000 hours in a plan year (January 1 through December 31), and be employed on the last day of the plan year. Employer contributions are fully vested after three plan years of participation.
Employees covered by the Service Employees International Union (SEIU) bargaining unit are covered by that union’s defined benefit pension plan. The Hospital contributes to the plan on behalf of the employees. SEIU employees may make voluntary contributions through the Geisinger-Lewistown Hospital Defined Contribution Plan, but because they are covered by the union plan, are ineligible for the employer component of that plan.
Geisinger-Family Health Associates 401(k) Plan:
This defined contribution plan provides an employer paid benefit to employees of Geisinger-Family Health Associates. It also allows for voluntary employee contributions with a 50% employer paid match on the first 6% of salary. Participation begins the pay following the date of hire.
Health Enterprises, Inc. 401(k) Plan:
Health Enterprises, Inc. employees are immediately eligible to participate in this program that is employee paid through payroll deductions. There also is a employer paid contribution for qualifying employees. To qualify for the employer payment, an employee must be age 21, be employed one year, and be employed at least 1000 hrs during a plan year (January 1. through December 31). Employee contributions are immediately vested and employer paid contributions are fully vested after three years. Contributions are tax-sheltered until retirement.
The Foundation matches the employee’s contributions to the Social Security program.