Healthcare Provider Update: Provides employer-sponsored health plans and a 401(k). Employees using ACA coverage should prepare for significant 2026 premium hikes and evaluate options early Click here to learn more
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What type of retirement savings plan does Surgery Partners offer to its employees?
Surgery Partners offers a 401(k) retirement savings plan to its employees.
Does Surgery Partners match employee contributions to the 401(k) plan?
Yes, Surgery Partners provides a matching contribution to employee contributions made to the 401(k) plan, subject to certain limits.
What is the eligibility requirement to participate in the Surgery Partners 401(k) plan?
Employees of Surgery Partners are generally eligible to participate in the 401(k) plan after completing a specified period of service, typically 30 days.
Can employees of Surgery Partners choose how their 401(k) contributions are invested?
Yes, employees at Surgery Partners can choose from a variety of investment options for their 401(k) contributions.
How much can employees contribute to the Surgery Partners 401(k) plan each year?
Employees can contribute up to the IRS annual limit for 401(k) contributions, which is adjusted periodically. For 2023, the limit is $22,500, with an additional catch-up contribution for those aged 50 and older.
When can employees of Surgery Partners start withdrawing from their 401(k) accounts?
Employees can typically begin withdrawing from their Surgery Partners 401(k) accounts at age 59½ without penalties, subject to plan rules.
Does Surgery Partners allow for loans against the 401(k) plan?
Yes, Surgery Partners allows employees to take loans against their 401(k) balance, subject to specific terms and conditions outlined in the plan.
What happens to my 401(k) balance if I leave Surgery Partners?
If you leave Surgery Partners, you can choose to roll over your 401(k) balance to another retirement account, leave it in the Surgery Partners plan, or cash it out, though cashing out may incur taxes and penalties.
Is there a vesting schedule for the Surgery Partners 401(k) matching contributions?
Yes, Surgery Partners has a vesting schedule for matching contributions, meaning employees must work for a certain period before they fully own the matched funds.
How can employees at Surgery Partners access their 401(k) account information?
Employees can access their Surgery Partners 401(k) account information through the plan’s online portal or by contacting the plan administrator.