Physician Careers -Northern California

Northern California Physician “Benefits Overview”
Retirement

Plan 2: Permanente Contribution Plan

	Corporate contributions

	Participation begins automatically on the first day of the month following completion of 1,000 hours of Pension Service within an employment year

	A defined contribution plan (Money Purchase Pension Plan)

	TPMG contributes an amount equal to 5% of your base (plus bonus) compensation up to the Social Security Wage Base ($102,000 in 2008) and 10% of the base (plus incentive bonus) compensation in excess of that amount up to $230,000 (IRS compensation limit in 2008)

	Account balance will be fully vested after five years of employment service

	Graded five year vesting as follows:
	Less than one year of employment service After One year After Two years After Three years After Four years After Five years	'''''''0% Vested '''10% Vested '''30% Vested '''50% Vested '''70% Vested 100% Vested

	Self-directed investment options, (choose among 18 investment options and 10 Target Date Funds)

	Loans available; no In-Service withdrawals

	Distribution Options:
	Lump Sum distribution Installments Defer to future date, but no later than age 70½ if retired

	Annuities