Rochester Regional Health
Welcome to the Rochester Regional Health Resource Page
On this website you'll find resources to help you navigate your benefits and answer any questions you might have. If you'd like to connect, we are here to help for more specific questions/ challenges you're facing. Be sure to bookmark this page as updates will be available as they become relevant. Also, by using the form at the bottom of this page, you are able to make suggestions to us to better serve you, as well suggest topics that you'd like to hear about at the next seminar! We hope that this website is useful and you find it to be helpful.
What about my Pension/Defined Benefit Plan?
We realize that there are a lot of questions surrounding these tremendous benefits!
What does the word Roth mean?
The word Roth is indicative of "post-tax" savings. The plan within Rochester Regional Health allows for both Traditional (pre-tax) and Roth (after-tax) savings. Usually after this question comes "which is better?" and that answer is complicated. They are both extremely important. Which is "more important" or which should be "emphasized" is different for everyone and could change from year to year. Please refer to the chart below for a high-level comparison between traditional & Roth savings.
1. Pre-Tax Contributions
1. After-Tax Contributions
|2. Tax-Deferred Growth||2. Tax-Free Growth|
|3. Taxed Distributions||3. Tax-Free Distributions|
How should I be invested?
How you should be invested is also something so personal to you. Some things to consider when choosing your contribution amount:
- Risk Tolerance - Market fluctuations will happen. How would you react if you saw a market pull-back reflected in your account?
- Time Horizon - How long until you are expecting to retire or begin using the money you're saving?
- Other Assets - How will other assets/incomes effect your retirement income picture?
- Income & Lifestyle - Not just right now, but how do you picture your life style in retirement? Let's plan for that!
Many times, you employers retirement account is a small part of your financial picture. As an added benefit to Rochester Regional Health employees, you have access to building an Asset-Map. To start the process, we encourage you to utilize this platform. Go ahead and watch the quick video below, and then start your own.