News Headlines Article

Rethinking Retirement Plans for Healthcare Workers
Health Leaders Media

As hospitals and health systems try to protect their margins against declining reimbursements and soft patient volumes, many are looking at redesigning their traditional defined benefit pension plan as a way to cut costs. By offering a defined contribution plan instead—typically a 401(k) or 403(b)—hospitals can reduce their overall contribution to their retirement package and make their financial obligation predictable because it will no longer be vulnerable to market fluctuations.