Banner Health’s 401(k) Plan offers eligible employees the opportunity to set aside money in a pre-tax retirement plan without a waiting period. Participants in the 401(k) Plan are eligible for matching dollars from Banner Health after one year of employment and those dollars are vested immediately.
Contributions can be directed to either the regular 401(k) using pre-tax dollars, the Roth 401(k) using after-tax dollars, or some combination of the two up to IRS annual limits. Please refer to the Banner Retirement Plans Information for further details.
Banner Health Matching Contributions
Banner Health will match every dollar you put into the 401(k) Plan up to 4% of your annual pay, which includes overtime, shift differential, and on-call pay, after your first anniversary of employment.
In order to receive Banner's matching contributions, you must put the first 4 percent of your retirement contributions in the regular 401(k) using pre-tax dollars. Any contributions above that 4 percent, can be directed to either the regular 401(k) using pre-tax dollars, the Roth 401(k) using after-tax dollars, or some combination of the two (up to IRS annual limits).
Summary Plan Description
Detailed information on this benefit such as eligibility, plan coverage, limitations and contact information can be found in the Summary Plan Description (SPD).