Retirement
Children's Mercy helps you financially prepare for retirement via the following plans:
Tax-deferred annuity 403(b) plan
All Children's Mercy team members are eligible to participate in the 403(b) plan upon hire.
- New team members are auto enrolled at 3% (opt out available).
- Pre-tax and Roth after-tax options are available.
- All team members will be eligible for the employer matching contribution on the 1st of the month following 90 days of employment and fully vested after three years of service. To receive the full 3% match, you must make a 6% or greater contribution to your TDA.
- Team members choose how contributions are invested and have a choice of investment options with TIAA (Retirement Plan Administrator).
Children's Mercy 401(a) retirement plan
- The Children's Mercy retirement plan is an employer funded money purchase pension plan.
- Team members age 21 or older are automatically entered into the retirement plan effective the 1st of the month following two years of service. (One year of service is defined as 1,000 worked hours during the 12 month period beginning with date of hire.)
- Children's Mercy contributes a range of 3% - 6% based on your age plus years of service.
- Team member contributions are tax-deferred.
- Team members choose how contributions are invested and have a choice of investment options with TIAA.