401(k) with Fidelity Investments

Eligibility for the SGMC 401k Retirement Plan begins on the first of the month following 30 days of employment. SGMC will match up to 50% of your first 4% contributed.

457(b) with Fidelity Investments

Employees of SGMC are immediately eligible to participate in the 457(b) Retirement Plan with Fidelity Investments. To participate, an employee must be at least 18 years of age and benefit eligible. For additional plan and enrollment information, please contact the Benefits area in Human Resources.

SGMC Retirement Plan

Defined Benefit:

The South Georgia Medical Center Retirement Plan is a Defined Benefit Plan. This means that all contributions to the plan are at the employer’s expense. Employees do not contribute any funds to this account. (Also known as a Pension)

Normal Retirement Date:

In 2009, the SGMC Retirement Plan was frozen. This means that participants in the plan are vested for the benefit amount they accrued during employment until 2009, which will be available at Normal Retirement Date (NRD). There are no new or future enrollments in the plan. The early retirement Rules of 87 and 97 still apply.

Please see table below:

If your Year of Birth is: Your Social Security Retirement age is:
Prior to 1938 65
1938 to 1954 66
After 1954 67

The Rule of 87:

If your age plus years of service equal 87, and you are between the ages of 60 and 65, you can retire with your vested benefit immediately. You will also be eligible to keep your health and dental insurance at the employee premium rate until your 65th birthday.

The Rule of 97:

If your age plus years of service equal 97 (No age requirement), you can retire with your accrued monthly pension benfit.

Early Retirement:

If you are within 10 years of your normal retirement date and you have completed at least 15 years of service, you can elect early retirement at a reduced benefit amount.

For more information on the South Georgia Medical Center Retirement Plan, please see the official Plan Document.
Name Size Description
401k Plan Document.pdf (4510367) Money Purchase Retirement Plan Download
Retirement Plan 2015 Restated.pdf (4252869) SGMC Retirement Plan (Restated 2015) Download

Have questions or need help setting up your benefits? Don't hesitate to reach out to us!