A benefit of partnership

LMP employees in three regions get extra retirement contribution

TUESDAY, MAY 10, 2011

Union Coalition-represented employees in Northern California, Southern California and Colorado who have a tax-deferred retirement savings plan recently got a little extra cash in their account, thanks to hard work and dedication—and a partnership benefit in the 2010 National Agreement.

Under the agreement, eligible employees in all Kaiser Permanente regions can earn an additional employer contribution to their retirement savings account equal to 1 percent of their annual earnings.

To have qualified for the 2010 1 percent employer contribution, employees must have at least one year of employment at KP. In addition, their region must have met its 2010 financial performance target under the Performance-Based Contribution program.

The retirement savings accounts are managed by The Vanguard Group. Eligible employees who do not already have such an account will have one opened for them and will be notified by Vanguard. This program is separate from the Performance Sharing Program and the Defined Contribution Match program—all of which enable Union Coalition-represented workers to share in their region’s success.

To enroll or get more information about the tax-deferred savings accounts, visit the Vanguard Group’s enrollment website or call 800.523.1188.