The Marin General Hospital retirement plan is primarily structured as a 403(b) Retirement Plan. This type of plan is a tax-deferred retirement savings plan available to employees of certain tax-exempt organizations, including hospitals.
Understanding the Marin General Hospital 403(b) Retirement Plan
The Marin General Hospital 403(b) Retirement Plan, also referred to as the "Plan," offers eligible participants a straightforward method to save for their retirement. It functions similarly to a 401(k) plan but is specifically designed for non-profit organizations.
Key Features and Benefits
Participating in the Marin General Hospital 403(b) Retirement Plan provides several advantages for long-term financial planning:
| Feature | Description |
|---|---|
| Plan Type | 403(b) Retirement Plan |
| Contributions | Made through "Salary Deferrals," directly from your paycheck. |
| Tax Benefit | Contributions and earnings grow on a tax-deferred basis, meaning taxes are typically paid only upon withdrawal in retirement. |
| Ease of Use | Automating savings through payroll deductions offers a convenient and consistent way to build retirement funds. |
| Eligibility | Available to eligible participants, providing a crucial benefit for employees of Marin General Hospital (MarinHealth Medical Center). |
How to Participate
If you are an eligible participant, you can make contributions directly from your paycheck into the Plan. These contributions, known as Salary Deferrals, offer an easy and efficient way to build your retirement savings on a tax-deferred basis. This means your money has the potential to grow over time without being taxed until you withdraw it in retirement, which can be a significant advantage for long-term wealth accumulation.
Further Information
For detailed information regarding eligibility, contribution limits, investment options, and specific plan documents, eligible participants should refer to official plan resources.
You can often find more specific details and documentation regarding the MarinHealth Medical Center 403(b) Retirement Plan through official plan administrators or by accessing resources such as the plan document available online: MarinHealth Medical Center 403(b) Retirement Plan.
