Employee Contributions
• Contribute from 2 − 75% of pay pretax: up to the IRS maximum ($19,500); additional limits apply to highly
compensated employees as defined by the IRS
• “Catch-up” contributions allowed for employees 50 or older: up to the IRS maximum ($6,500)
• Roll over account balances from a former employer’s qualified plan into the Retirement Savings Plan at any time
Renown’s Investment in Your Future
Renown matches employee contributions immediately at a rate of dollar-for-dollar for the first 3% and
fifty cents on the dollar for the following 2%. This results in a total matching contribution of 4% when
an employee contributes 5% or more to their 401(k) plan. Where else can you get an 80%* return on
your money?
Vesting Schedule
Vesting refers to your right of ownership of the money in your account. You are always 100% vested in
your own contributions and their earnings. You become vested in Renown Health contributions based
on the following schedule:
• Less than 2 years of employment: 0%
• 2 years: 25% • 5 years of employment: 100%
• 3 years: 50%
•
4 years: 75%
Investment Advice
You don’t have to guess which investments are right for you. Renown and Vanguard provide you with
different ways to get investment help:
• Target Date Retirement Funds
• Vanguard’s Managed Account Program
• Financial Engines
• Vanguard Financial Planning 55+
Financial Engines and Vanguard Financial Planning 55+ are available at no charge, while Vanguard’s
Managed Account Program is offered for a nominal monthly fee. Contact Vanguard at 800-523-1188 for
more information on investment advice services.
Five Reasons to Participate in the 401(k):
1. You decide how much you can afford to contribute.
2. Participating reduces your current income taxes.
3. The investment choices that match your retirement goals and risk tolerance.
4. Your contributions and earnings accumulate tax-deferred.
5. Employer matching contributions start as soon as you enroll.
And for added peace of mind, there are plan provisions allowing you access to your funds before retirement,
should the need arise.
* 80% return calculated based on 5% contribution with 4% employer match
19