Increase Your Retirement Savings With a 401(k)

• Eligible participants are allowed to make elective deferrals into the plan subject to the plan rules and IRS limits.
• HIMSS matches 100% of the first 1% of employee contributions and 50% of the next 5% of employee contributions annually. Match contributions have a two-year cliff vest.
• New hires will automatically be enrolled in the plan at 6% (the amount needed to receive the full employer matching contribution) unless they opt out of the plan or make a different contribution election that is more or less than the auto-enrollment contribution of 6%. Employees can elect a 0% contribution.
• HIMSS also has the discretion to make a non-elective contribution into your 401(k) account on an annual basis. Eligibility to receive any non-elective contributions begins after 90-days of employment, employees must have worked 1,000 hours in the plan year and must be employed on December 31 in the same plan year that a contribution is made. The non-elective contribution has a 3-year graded vesting schedule.
• Age 50 or older? Make an additional “catch-up” contribution up to the IRS catch-up contribution limit to save even more.
• See the Healthcare Information and Management Systems Society 401(k) Plan Summary Plan Description located on the Empower site and on HERO for further details.