Retirement Plans

Employee Self Service

Use remote access to log in to Employee Self Service and review and/or change your benefits information.

REMOTE ACCESS

New Hanover Regional Medical Center's retirement options are designed to build a solid foundation for the future. The decisions you make about your retirement are some of the most important decisions you will ever make. 

403(b) 

Under this program, you elect to have a percentage or flat amount of your annual salary deposited into your account each pay period on a pre-tax basis. You are not taxed on the money until you withdraw it, presumably at retirement when you may be in a lower tax bracket. Because your savings are tax-deferred, you do not pay state and federal taxes on your contributions until you actually receive money from your account. AIG Retirement Services is our sole retirement provider for the 403(b) plan. 

All employees are eligible for a 6% match. This means that if you contribute up to 6% of your salary into your 403B, Novant Health with match you dollar for dollar up to 6%. That’s free money! Employees are eligible for the match after 1 year of service with at least 1,000 hours worked, and vested after 3 years of service with at least 1,000 hours worked in each year.  

2021 Novant Health NHRMC Summary Plan Description

Online
AIG Retirement Services

Over the phone 800.448.2542 Mon-Fri, 8 a.m - 9 p.m.

How to Enroll

  • Enroll online by going to this link - Enroll in your retirement plan, access code for the 403(b) plan is 45944301
  • If you prefer to enroll over-the-phone or a virtual meeting with a VALIC/AIG representative please select day/time: schedule 1-on-1 phone appointments
  • Call a VALIC/AIG financial advisor directly at 910-667-5294

AIG Retirement Services holds monthly seminars for all employees; check CapsLive for details.

How Much You Can Contribute

IRS regulations govern how much you will be able to contribute to the 403(b). The current limit is $19,500, but this limit can change annually. For current limits, please contact AIG Retirement Services or the Benefits Team at 910.667.6000.

The catch-up contribution limit for employees ages 50 and over who participate in 403(b), most plans and the federal government’s Thrift Savings Plan is $6,500. You can begin your participation through designated payroll deductions at any time and our dedicated financial advisors will help you evaluate your options when it comes to saving for retirement. You are always 100% vested in amounts you contribute to the 403(b) plan.

Withdrawals

You will typically file for this benefit when you retire from NHRMC. However, if you leave NHRMC before you are ready to retire, you can withdraw the vested value of your account at that time minus applicable taxes, or you may roll over your account into an Individual Retirement Account (IRA) or another employer's qualified retirement savings plan. Withdrawals prior to age 59½ that are not rolled over into another qualified plan are subject to a 10% tax penalty for early withdrawal in addition to regular state and federal income taxes.

Hardship Withdrawals

Before you submit a Hardship Withdrawal, check it carefully and make sure it is complete, including your signature. Documentation supporting the reason for distribution and the amount of the immediate and heavy financial need must be submitted with your request. 

The IRS allows hardship withdrawals for the following reasons: 

  • Medical expenses for you, your spouse or dependents
  • Expenses directly related to the purchase of your principal residence, excluding mortgage payments
  • Tuition-related educational fees, room and board for post-secondary education for the next 12 months for you, your spouse or dependents
  • Amounts required to prevent eviction from or foreclosure on your principal residence
  • Funeral expenses for your deceased parent, spouse, children or dependents
  • Repairs for uninsured or underinsured damage to your home due to theft, fire, storm or other casualty

Hardship Loan Application

The Plan Administrator reviews and signs AIG Retirement Services paperwork, including loans, hardship withdrawals and distribution after your employment has ended at NHRMC.

  • If you are married, your spouse’s signature must be notarized. Most employers and banks have notaries on staff. We have three notaries on staff in HR.
  • Once the Plan Administrator signs the form, your application will be faxed to AIG Retirement Services for processing.
  • Checks are sent to your home address of record by regular mail [unless you choose to pay for the check to be sent overnight.]
  • Checks are sent in 3-10 business days. Banking regulations require a minimum of three (3) banking days.

Medicare

Click here to access the official U.S. government Medicare handbook with important information about the following:

  • What's new
  • Medicare costs
  • What Medicare covers
  • Health and prescription drug plans
  • Your Medicare rights
  • Signing up to get future handbook electronically

Links and Resources