Financial Retirement Employee Benefits :: Nationwide Children's Hospital

Financial Benefits

Direct Deposit

All employees must enroll in the direct deposit program which enables an employee to electronically deposit their paycheck into a bank account(s) of their choice. A maximum of three banks and four accounts is permitted.

U.S. Savings

Series EE savings bonds are available through payroll deduction.

Employee Assisted Housing

Nationwide Children’s Hospital provides financial assistance for first-time home buyers to purchase a home within Franklin County. This is a collaborative effort between NCH and the Columbus Housing Partnership (CHP).

Retirement Benefits

Pension Plan

Employees become participants in the defined contribution pension plan upon hire. From hire to five years of service, Children’s contributes 4% of pay to investments that the employee designates. After five years, Children’s increases the contribution to 5% of pay. The full cost of the plan is paid by Nationwide Children’s Hospital. A vested service year is earned if an employee is paid 1000 hours in a year. Vesting is a five year graded schedule – 20% after two service years, 40% after three service years, 60% after four service years, and 100% vested after five service years.

Tax-Deferred Annuities (TDA)

Specialized retirement savings programs are available which permit employees to defer a portion of their income from current tax liability. Tax-deferred annuities are portable investments in which earnings can provide additional sources of post-retirement income independent of other retirement benefits. All employees may enroll in a TDA program.

Hospital Match Savings Program

Employees enrolled in a TDA program are eligible to receive a Hospital match on a 50% basis with a maximum Hospital contribution of 1.5% of the employee’s gross earnings. Vesting and eligibility is the same as the pension plan noted above.
 
Nationwide Children's Hospital
700 Children's Drive Columbus, Ohio 43205 614.722.2000