Thinking About Retirement?
Retirement isn’t just the end of a career—it’s the beginning of a new adventure. Whether you’re dreaming of travel, time with loved ones, or simply the joy of slowing down, we want to support you every step of the way.
As you reflect on your journey with us, know that your contributions have made a lasting impact. We’re here to help you plan your next steps and celebrate all that you’ve accomplished.
Next Steps for Employees Looking to Retire
1. Notify your supervisor and complete the Resignation Form through MyHR. Instructions on how to complete this process can be found here
2. Salem Health recommends that you reach out to an outside benefit or retirement consultant to review and fully understand all of the benefit options that are available to you, including what is offered through Salem Health.
3. If you have worked for Salem Health for at least 10 years, you are eligible to receive a Retirement gift. To confirm eligibility, please complete the online form. You will receive additional communication if you meet the criteria.
4. Following separation from employment or movement to a non-benefit eligible position, OptumHealth will mail to your mailing address on file benefit continuation forms and instructions on how to elect continuation of benefits (COBRA). Your current benefits will remain in effect through the end of the month in which separation or movement to non-benefit-eligible status occurs.
5. For questions regarding your PTO (accrual/use/payout) please review the PTO Policy
6. For questions regarding your final check, please review the Termination of Employment Policy
Commonly asked questions
A: Your current benefits will remain in effect through the end of the month in which separation or movement to non-benefit-eligible status occurs.
A: For questions regarding your PTO (accrual/use/payout) please review the PTO Policy
A: For questions regarding your final check, please review the Termination of Employment Policy
A: COBRA provides eligible employees, their covered spouse/domestic partner, and dependents who experience a loss of benefits the right to continue coverage under the group plan for a limited period of time, under specific circumstances. More information can be found here. If you have questions about COBRA, coverage or monthly premium costs prior to receiving your OptumHealth information please contact Benefits Resource Center at 866-468-7272.
A: Salem Health recommends that you reach out to an outside benefit or retirement consultant to review and fully understand all of the benefit options.
– SHIBA: an Oregon state program that offers free counseling to those who are ready to sign up for Medicare. 800-722-4134
– Fidelity: A representatives can meet with you one on one (virtually or in-person) who can provide financial planning guidance. 800-343-0860
– Medicare 800-633-4227
– Social Security Administration 800-772-1213
A: Benefit-eligible positions at Salem Health are eligible to receive Employer Matching contributions and Experience contributions to their 401(k) accounts. For more information, please visit the 401(k) Retirement Plan page.
A: Salem Health announces all available retirement programs through the intranet when they launch. Currently, Salem Health offers a 401(k) and a Roth IRA to all benefit-eligible employees. For additional retirement savings options, we recommend consulting with an external financial or retirement advisor.
A: Salem Health does not require a minimum number of years worked to retire. However, we recommend speaking with an external benefits or retirement consultant to fully understand your individual retirement readiness.
A: To view your retirement account balances, please log in to www.netbenefits.com/SalemHealth.
A: All current Salem Health benefits remain active through the end of the month in which you retire.
Example: If an employee retires on March 2, their benefits will remain active until March 31.
A: Final paychecks are typically mailed to the address on file with Human Resources. They are subject to withholdings based on the employee’s most recent W-4 elections, in accordance with applicable state and federal laws.
Questions?
Please submit a ticket in AskHR
Important Update on retiree benefits for those who are not yet Medicare eligible:
During the market review, our benefits design partner confirmed it is no longer standard for companies to provide retiree benefit plans, now that sufficient alternative options are available in the market. As such, we have sunset retiree medical, dental, and vision and EAP as of December 31, 2022. COBRA coverage continues to be available to all benefit eligible employees departing from Salem Health.
What do I do next?
1. Salem Health recommends that you reach out to an outside benefit or retirement consultant to review and fully understand all of the benefit options that are available to you, including what is offered through Salem Health.
SHIBA, an Oregon state program that offers free counseling to those who are ready to sign up for Medicare. 800-722-4134
Social Security Administration 800-772-1213
Medicare 800-633-4227
Fidelity Representatives – can meet with you one on one (virtually or in-person) who can provide financial planning guidance. 800-343-0860
2. Notify your supervisor and complete the Resignation Form through MyHR. For instructions on completing this process, CLICK HERE
3. If you have worked for Salem Health for at least 10 years, you are eligible to receive a Retirement gift. To confirm eligibility, please CLICK HERE and complete the online form. You will receive additional communication if you meet criteria.
4. If you plan to change to an approved Unscheduled position (U Status), your supervisor will not need to complete the Termination of Employment Form. Your supervisor will enter a status change into Manager Space. Please reference to Paid Time Off Policy regarding this status change as this can affect PTO payout and 401(k) contributions, if applicable.
5. Following separation from employment or movement to a non-benefit eligible position, OptumHealth will mail to your mailing address on file benefit continuation forms and instructions on how to elect continuation of benefits (COBRA). Your current benefits will remain in effect through the end of the month in which separation or movement to non-benefit eligible status occurs.
If you have questions about COBRA, coverage or monthly premium costs prior to receiving your OptumHealth information please contact Benefits Resource Center at 866-468-7272.
6. PTO Accrual, Use, and Payout – Please review the PTO policy.
To confirm eligibility for a Retirement Gift please click here and complete the online form.