Retirement Plans

Employee Self Service

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


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) and 457(b)

Under these programs, 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 both the 403(b) and 457(b) plans.  

You may increase or decrease your contributions throughout the year. Manage your account using the three "Os":

AIG Retirement Services

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

On-site Representatives
Call 910.815.5294 for an appointment.

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 401(k), 403(b), most 457 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.


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.

Pension - NHRMC Only

New Hanover Regional Medical Center provides a pension plan for employees of the hospital. You become eligible to participate in the pension plan on January 1, after having worked a minimum of 1,000 hours the prior calendar year. You are 100% vested in your accrued pension benefit once you complete five years of service in which you work 1,000 hours each calendar year.

Your pension benefit is calculated using a formula based on several factors including:
  • Your credited years of vested service with NHRMC
  • Your final average compensation
  • Your age when you commence benefits
Normal retirement age is 65. However, vested retirees may choose to begin receiving their pension benefit anytime after age 55. If payment begins before your normal retirement age of 65, your pension benefit is adjusted to reflect receipt of monies over a longer period of time.

Vested retirees, age 55 or older, may elect to receive their benefit in a variety of monthly annuity options or in a lump sum benefit. Regardless of your age, if you are vested when you leave NHRMC's employment, you are eligible to receive a lump sum pension benefit.

You do not need to apply for a pension application. You will receive a pension application at your home address about six weeks after your last day worked. You then have 90 days from receipt to request the lump sum benefit by completing and returning the application and copies of other required documents (i.e. ID's and marriage license) to the HR Benefits Team. If you terminate employment before you are vested, you will not receive any benefits from this plan.

Pension Estimates

Pension estimates are prepared and mailed to active pension-eligible employees every 12-24 months, around October. These statements are intended for informational and planning purposes at typical retirement ages, but do not represent an actual pension calculation.


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