Saving money is one of the most essential steps to building a secure, stress–free future. While there are many expenses you can predict – like your retirement and children’s education – you also need to be prepared for the unexpected. This is why The Christ Hospital offers various savings vehicles for you to consider, all of which can help create financial security for your future.


When you retire, if you’re eligible you may have income available through several different sources:


We have several resources available that can assist you with a better understanding of your retirement options.

403(b) Retirement Savings Plan

Talk to a Financial Professional

If you are interested in choosing your investments to your 403(b), but you don’t know what to do or where to start, Principal Financial is available to assist you by calling 800-247-8000, ext. 2493

One on One Medicare Plan Assistance

The Christ Hospital partners with Chris Mihin of Horan Associates to help you navigate Medicare Plans and make the best decisions for you and your spouse as your prepare to retire or turn 65. These free sessions are designed to walk you through all available Medicare Plans A, B, C, and D, as well as Advantage and Supplement Insurance Information. To set-up an appointment, call 513-794-2960


Chris Mihin

One on One Social Security and Retirement Planning

The Christ Hospital partners with Michael Hermes, CFA, CFP® of Horan Associates to help you navigate your upcoming retirement and social security options. As a fiduciary and National Social Security Advisor, Michael will work closely with you and your spouse as you prepare for your upcoming retirement. These sessions are designed to help you maximize your social security benefits and estimate your monthly income in retirement. In addition, you will cover different retirement strategies including paycheck recreation and tax minimization. To set-up an appointment, call 513-587-2701 or 513-745-2165.

Michael Hermes

403(b) Retirement Savings Plan


All employees are eligible for the 403(b) Retirement Savings Plan. New hires are automatically enrolled in the Plan at a 2% of pay contribution level. Once enrolled, the initial 2% of pay contribution level automatically escalates by 2% each year in the future, up to a maximum of 6% of pay. You can, however, elect to opt out of the automatic enrollment or make changes to the amount you save – at any time.

Your Contributions (per pay)

You can contribute up to 75% of your eligible pay in pre-tax contributions to your account each year (up to the annual IRS limits). After-tax contributions (Roth) and eligible rollovers from another qualified plan are also permitted. And, if you are at least age 50 any time during the year, you can make an additional contribution up to the annual IRS limits. Your contribution can either be in pre-tax or Roth contributions to your account.

Matching Contributions (per pay)

As an incentive to save, The Christ Hospital matches your contributions to help your account grow, matching 50% on up to 6% of your contributions. If you contribute 6% of your pay to your account, you’ll receive a 3% matching contribution from The Christ Hospital, from your bi-weekly earnings. You become 100% vested in the company’s matching contributions after three years of service, including prior service with The Christ Hospital.

403b Resources

401(a) Retirement Savings Plan – former Health Alliance employees


If you were employed at Health Alliance and participated in a 401(k) Plan through them, your account was transferred to a 401(a) after the split with The Christ Hospital. This account still is earning interest, and you should be receiving quarterly statements from Principal with your account balance included. However, you are not able to make additional contributions to this account. Once you retire or leave The Christ Hospital, you will be able to roll these funds into an Individual Retirement Account (IRA) or another investment vehicle.



Applicable for employees with a hire date of January 1, 2013 or prior.

Preserved (frozen) Benefit

The Pension Plan is another part of your overall monthly retirement benefits. Effective December 31, 2013, the Pension Plan was preserved as The Christ Hospital moved to a common 403(b) Retirement Savings Plan. Any benefit you earned from the Pension Plan on that date will be protected and preserved, paid out to you or your beneficiary at the time of your retirement. The amount of your benefit will be calculated based on your age, pay and years of service with The Christ Hospital and is entirely paid for by The Christ Hospital – it costs you nothing. This only applies to employees hired prior to January 1, 2013. If you were hired after January 1, 2013 you are not eligible for the pension benefit.

Calculating Your Earned Pension Plan Benefit

Your benefit as of the preserved and protected date of December 31, 2013, will be calculated and using a formula based on:

  • Your Final Average Earnings: The highest five calendar years of earnings during the 10-year period ending on the earlier of your termination date or December 31, 2013. If you do not have five calendar years of earnings prior to this date, your Final Average Earnings will be determined by averaging your earnings from your date of hire through December 31, 2013. Your earnings for each plan year are generally based on your base hourly pay rate as of January 15 of such year, multiplied by 2,080.
  • Your Years of Credited Service: One year of service is credited for each calendar year in which you completed at least 1,800 paid hours of service (prorated).
  • Social Security Covered Compensation: Average of the Social Security Taxable Wage Bases for the 35-year period ending in the year in which you reach your Social Security normal retirement age.

For Employees of Fort Hamilton-Hughes, Jewish Hospital of Cincinnati and the St. Luke Hospitals

The formula used to calculate your earned Pension Plan benefit, as well as how some of these terms are defined, will be different for you. Please see the detailed descriptions in the 2014 Retirement Program Guide.

When You Own – or are vested in your Pension

You become fully vested in (or own) your preserved Pension Plan benefit after five years of service with The Christ Hospital or at age 65. You earn a year of vesting service for each calendar year in which you complete 1,000 paid hours of service.

Retiring and Receiving Your Pension

You can retire at the normal retirement age (age 65) and receive your full preserved Pension Plan benefit. You can also retire as early as age 55 with five years of service, but your benefit will be reduced to account for the longer period of time you’ll spend in retirement.

Payment of your Pension will begin upon communicating to Mercer of your intent to retire and notifying of your last date of employment and after your election forms and all of the required documents are submitted. There are various forms of monthly payment options available to receive your benefit at retirement. You will make your benefit selection with your required document completion.

Transition Credits

The Christ Hospital will provide transition credits – ranging from 1.5% to 2.5% of pay – for plan years 2014 to 2018 to Pension Plan participants whose age plus years of service equal at least 55 as of December 31, 2013. The amount of the transition credit is determined by your age plus years of service as of December 31 of each subsequent year.

***1 Year of Service = a calendar year in which you worked a minimum of 1,000 hours***

Age + years of service equals55-6465-7575+
Percentage of pay contributed by The Christ Hospital: 1.5%2.0%2.5%

You are eligible for the transition credit if you are employed on the last day of the year (December 31), were eligible for the Pension Plan as of January 1, 2014, and have completed at least 1,000 hours of service during the year. Eligible participants will be 100% vested in their transition credits after three years of service, including any prior service with The Christ Hospital. Transition Credits will be deposited by the end of March, following the end of the plan year. For example, for the plan year that ended December 31, 2014, Transition Credits will be deposited in March 2015. The final Transition Credits will be paid to eligible employees in March 2019, for plan year ending December 31, 2018.

Retirement Planning Process

If you are thinking of retiring from The Christ Hospital – 4 months prior to your last day of work, please contact the benefits department with the indication of what your last day of work will be, for guidance on the steps and information you may need to prepare for your future retirement. You will be provided with a helpful retirement guide, including important phone numbers and timelines to assist you in your planning. You may reach the Total Value team at 513-263-1500 or by email at