Retirement

UPMC Cash Balance Plan

This is an employer-sponsored pension plan. There is nothing you need to do to participate in this plan. You will begin participating in the plan on either Jan. 1 or July 1 after you have attained age 21 and completed 1,000 hours of service. Your benefit under this plan is based on “Retirement Credits,” which are based on your age, service, and eligible earnings.

Depending on where you work and your age and service, your retirement credits can range from 2.5% to 6% of eligible pay. You will be fully vested in the Cash Balance Plan after you have earned five years of service (three years as of Jan. 1, 2008) in which you have been paid for at least 1,000 hours in each of those years.

Your account is credited daily with interest based on the prevailing 30-year U.S. Treasury bond rate. This interest is compounded quarterly.

Staff members can find out more details about the Cash Balance Plan, check their Cash Balance account, and update beneficiary information as necessary by entering My HUB, clicking on the Human Resources tab, and then selecting My Retirement under My Benefits. You will be linked directly to the Your Benefits Resources website.

Benefits described may not be applicable to all staff. Some business units have unique benefit programs, certain job classifications may affect benefit eligibility, and contract terms determine benefits for physicians and members of collective bargaining units.

Retirement homepage