Moon Township, PA, (March 16, 2011)
Brenda Maravich (left) and Laurie Clemens
– Heritage Valley Health System was awarded the 2011 Plan Sponsor of the Year Award for the Nonprofit/403(b) workplace segment by PLANSPONSOR Magazine. Heritage Valley received the award based on its high participation rate, 82%, among employees in the 403(b) retirement plan, its extensive education campaign to inform and share the benefits of retirement savings with employees, and the 5.8% average deferral rate, or amount which each employee contributes from their paycheck to their 403(b) plan account, which is above the national average.
“Involvement from the human resources staff, Health System management and the retirement plan advisors, Retirement Resources, in educating employees about the importance of retirement savings was critical to our success,” said Laurie Clemens, director of human resources, Heritage Valley Health System. “With their hard work over the last four years we’ve been able to significantly grow participation in the retirement plan from 53% to 82%.”
Each year, the editors of PLANSPONSOR magazine honor employers that demonstrate leadership in providing a more secure retirement for workers. Strong investment performance, rigorous corporate governance, and an enduring commitment to participant education are the hallmarks of distinction of PLANSPONSOR’s Plan Sponsor of the Year awards.
“It is an honor to be recognized on the national level for the retirement plan that we offer to our employees,” added Brenda Maravich, manager of human resources at Heritage Valley. “The doctors, nurses, clinical technicians and all other healthcare employees are very dedicated to providing care for patients. Heritage Valley, as an organization, feels its part of our mission to help them attain a secure retirement savings.”
The Plan Sponsors of the Year will be recognized at PLANSPONSOR’s annual Awards for Excellence dinner in New York City on March 24, and also will be featured in the March issue of PLANSPONSOR magazine.