Tax-sheltered annuity 403(b) plan
You can make payroll contributions up to the maximum IRS amounts.
As a perk, Nationwide Children's Hospital will also provide a match to the contributions you make, which will be added to your defined contribution plan (for details, review the defined contribution plan section).
Defined contribution plan
If you are employed for fewer than 5 years of benefit service (benefit service requires 1,000 hours of service), Nationwide Children's Hospital will make an employer retirement contribution as follows: 4% of your salary up to the Social Security wage base and 8% of your salary above the Social Security wage base.
If you are employed for more than 5 years of benefit service (benefit service requires 1,000 hours of service), Nationwide Children's Hospital will contribute 5% of your salary up to the Social Security wage base and 10% of your salary above the Social Security wage base.
Nationwide Children's Hospital will match the contributions you make to the tax-sheltered annuity 403(b) plan by contributing an amount equal to 50% of the salary deferrals made to the 403(b) plan up to a maximum of 3% of your compensation.
When are Nationwide Children’s Hospital contributions to both the Defined Contribution and the Match Savings plan made?
Nationwide Children’s Hospital contributions are processed 3 times per year and are based upon when an employee reaches 1,000 hours paid in a payroll calendar year.
- 1st review is based upon hours and compensation paid through June (pay 13). These contributions are deposited mid to late September.
- 2nd review is based upon hours and compensation paid through September (pay 20 or 21). These contributions are deposited mid to late December.
- 3rd review is based upon hours and compensation paid through December (pay 26). These contributions are deposited mid to late March of the next year.
To obtain your specific Social Security wage base, contact your HR Service Center at 614-355-4111.