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.
Yale-New Haven Hospital is a nationally recognized, 1,541-bed, not-for-profit hospital serving as the primary teaching hospital for the Yale School of Medicine. Yale-New Haven was founded as the fourth voluntary hospital in the U.S. in 1826. Today, the hospital's two New Haven-based inpatient campuses include Yale-New Haven Children's Hospital, Yale-New Haven Psychiatric Hospital and Smilow Cancer Hospital. YNHH has a combined medical staff of about 4,500 university and community physicians practicing in more than 100 specialties. YNHH's York Street campus and associated ambulatory sites are Magnet-designated by the American Nurses Credentialing Center.