Retirement
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Enhancing your financial wellbeing: Updates to the RWJBarnabas Health Retirement Savings Plan beginning July 1, 2025
At RWJBarnabas Health, we believe that Wellbeing starts with you because when you thrive, so do those we serve. We understand that planning for your future is important, and today, we’re making that easier for you. Beginning July 1, 2025, we’re updating our Retirement Savings Plans, 401(k)/403(b), as another step in our one system, one family journey to provide a more consistent wellbeing experience across our system.
We’re excited about these Retirement Savings Plan enhancements because they demonstrate our continued commitment to your financial wellbeing. We believe it’s our responsibility to help you build a more secure financial future because building and sustaining a healthier New Jersey starts with you—our incredible employees. Thank you for all the work you do in service of our mission.
Employees who are covered by a collective bargaining agreement should check with their local human resources teams or union leadership to understand how these changes may apply.
Video Overview of the Changes
Click here to watch a 10-minute recorded presentation outlining these exciting new enhancements.
What’s Changing: Plan Mergers
As our employees have moved across our health system, many have moved in and out of various 401(k) and 403(b) Plans over time which has been confusing. To improve your experience in planning for your future, beginning July 1, 2025, we are pleased to announce that we will be merging our existing site-specific 401k and 403b Retirement Savings Plans into one, RWJBarnabas Health 401(k) Plan, and one, RWJBarnabas Health 403(b) Plan.
With the move to a harmonized 401(k) plan, your balance will be transferred to the new plan at the same investments and contributions you currently hold in your existing 401(k) Plan or 403(b) Plan. To review your current plan, investments and contribution amount, contact Fidelity either online at www.netbenefits.com/rwjbarnabashealth or by calling 800.513.5015.
What’s Changing: Employer Contributions
i. RWJBarnabas Health is proud to provide an employer-matching contribution of 50% of the first 6% you contribute to your 401(k) Plan. This means if you contribute 6% of your paycheck, RWJBarnabas Health will add 3% more. Or, if you contribute 4% of your paycheck, RWJBarnabas Health will add 2% more.
ii. Additionally, RWJBarnabas Health may offer a non-elective contribution on an annual basis. This contribution will range from 0-6% of annual compensation excluding overtime and bonus pay, depending on our system financial results. This contribution is non-elective, meaning that regardless of whether you contribute to your Retirement Savings Plan, you will receive this contribution annually. The first annual payment is targeted for early 2026 based on 2025 financial information.
What’s Not Changing
RWJBarnabas Health is proud to continue to partner with Fidelity as our trusted retirement plan service provider. At any time, you can contact the Fidelity Retirement Service Center at 800.513.5015 with questions.
What’s Next
In early May, Fidelity will provide additional information including how your current Plan balance will be transferred into the merged Plan. You will receive this information at your home address, so please be on the lookout. There will also be opportunities in May and June to attend information sessions and schedule one-on-one sessions. We’re committed to getting you the information you need and your questions answered.
In addition to the upcoming sessions, you can contact the Fidelity Retirement Service Center by calling 800.513.5015.
Questions?
Fidelity
Website: NetBenefits
Call: 800-513-5015
Monday – Friday from 8:30am to 12am
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