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Univera Health Plan Retirement Program Summary

Retirement Program

The Company offers a Defined Contribution benefit to assist you in saving for your retirement needs. Our current plan offering is as follows:

401(k) Plan

The plan is an ERISA qualified plan that offers the ability of pre-tax deductions and company matching contributions. Highlights of the plan include:

  • Immediate participation is available to defer up to 50% of your pay, subject to the IRS maximum (18,000 for 2016). Catch up contribution are also available to those 50 and older.
  • Auto Enrollment @ 4% of pay.
  • Company per payroll match of 100% on the first 4 % of pay (no match provided on the catch-up contributions).
  • During the first quarter of each year, the Company will also contribute an additional 4% of your prior year’s plan pay (up to the IRS limit) for those that were employed on December 31st of the prior year.
  • The Company contribution, as well as any Company matching contributions are vested after 3 years of service.
  • Current record keeping through Fidelity Investments (NEBA Administers the 401(k). A list of current investments offerings is available on the Fidelity Investments website, as well as the company Intranet.
The Company reserves the right to change, revise, or terminate any pay practices, policies or benefits, in whole or part, without any advance notice and at any time. In addition, nothing contained herein shall be construed to create an employment contract.