The retirement benefit provides incentives for employees to save for their own future and is available to all employees, except lease and independent contractors. The benefit increases with length of service and is portable among Alexian Brothers Health System facilities. The retirement program offers two components: a Cash Balance Plan and a 401(k) Plan.

With the Cash Balance Plan, Alexian Brothers provides employees with an annual contribution that ranges from 1.5 percent to 9 percent toward an account balance based on their prior year earnings and years of credited service. An annual statement provides employees with a summary of their cash balance contributions, interest credits and balances.

With the 401(k) plan, employees can save for retirement on a tax-deferred basis. In addition to their own savings, ranging from 1 percent to 50 percent, Alexian Brothers Health System will match, dollar for dollar, the first 2 percent of pay an employee saves.