YNHH cash account pension continues to earn 3.8% percent
YNHH cash account pension continues to earn 3.8% percent Each November 30, an employee's Cash Account Pension Plan account balance is updated by an annual pay credit, plus an interest credit, which is entirely funded by Yale-New Haven Hospital.
The annual interest rate credited as of November 30, 2012, was 3.8 percent. As of December 1, 2012, the interest rate continues to be 3.8 percent for the coming plan year. The annual pay credit is a percentage of covered pay for the plan year ending on November 30 and is based on an employee's completed years of benefit service. As years of benefit service increase, so does the employee's pay credit percentage for future credits, as follows:
|Yrs of benefit service
||Pay credit %
Employees are fully vested after three years of service. For more information, call the Benefits Office, 688-2401, or visit the HR on the Intranet.