One of our organization’s three major goals is to make KSB Hospital the best place for employees to work. I invited Julie Mann to share some insight on our ongoing effort to choose the best Third Party Administrator for your retirement savings plans. Julie and the HR staff have been working hard on this, and I know we all appreciate their expertise.
Julie Mann (VP, Administrative Services)
Listening to the news, you may think Healthcare Reform is the only benefit we need to focus on. However, retirement planning is just as important. If you think about it, Health care and Retirement planning go together. Hopefully you are taking full advantage of participating in KSB’s Retirement Savings Plan (RSP). Remember, if you are contributing and working at least 1000 hours per year, KSB may contribute up to 5% toward your retirement! We know that there has been much change in the banking and retirement vendor world this past year. The one aspect that has remained the same is that KSB’s RSP assets are invested in Vanguard funds, which have some of the lowest-cost funds in the business. Therefore, regardless of the company who processes our contributions, our investment funds have remained the same. Administration has the responsibility of making sure your retirement plan is being administered in your best interests. It is important for you to know that we are currently in the process of evaluating Third Party Administrators to handle our RSP Assets. We are completing the due diligence process to ensure when we choose a vendor, it will be cost effective for both you and KSB. As soon as this process is completed, more communication will be provided. Rest assured we are looking out for your best interests. As always, if you have questions or feel you need more help in retirement planning, you may consult Brad Colby, a Certified Retirement Planner. KSB pays for his services to assist our employees in their retirement planning. Contact HR (extension 5616) to find out how to take full advantage of this benefit!