Retirement
This coverage is based on length of service and average salary in the highest 3 years . The program uses currently 2 % per year of qualified service at the average for the highest 3 years . It takes 4 years of service to become vested .
Effective July 1 , 2012 , Davis Behavioral Health contributes the following percentage of your wages to the noncontributory plan of the Utah Retirement System :
Tier 2 16.69 % ( Employees hired on or after 7 / 1 / 11 ) Tier 1 18.47 % ( Employees hired prior to 7 / 1 / 11 )
A great value to employees is that the service credit is transferable to another member that uses the URS system and this continues .
401 ( k ), 457 Plans and Roth IRA
At this time Davis Behavioral Health will match up to 2.0 % into a 401 ( k ) for the merit employees each pay period based on their individual earnings . Employees may also contribute to a 457 plan or Roth IRA , but no matches are available .
The annual percentage may change as funding is available . All employees that are eligible are encouraged to participate at whatever level they feel is appropriate .
For more information on these programs and the URS IRAs , please contact HR or visit the URS website , www . urs . org
Davis Behavioral Health
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