Ascension Healthcare Legacy Pension Plan
Ascension HealthcareLegacy Pension PlanPlan SummaryRevision Date: January 1, 2019
For Information About Your BenefitsThere are several resources available in addition to this Summary if you have questions about yourAscension Healthcare Legacy Pension Plan benefits.Access Online Ascension Pension ServicesOnline services for any frozen pension benefits you may have at your Employer, including yourAscension Healthcare Legacy Pension Plan benefits, are available through Benefit Connect atwww.ascension.org/pensioninfo. This website is available 24/7 and offers many online tools,including, for example, an online estimator for calculating your pension benefits (based on differentretirement ages and forms of payment). You can also request a retirement application, change yourBeneficiary, send specific questions to Ascension Pension Services via the Message Center and more! When you first visit www.ascension.org/pensioninfo, follow the prompts to enter this logininformation:‒‒‒‒‒ Your Social Security Number (SSN) with no dashesYour date of birthYour ZIP codeYour year of hire (if you have more than one hire date, any year during which you werehired will work)Your email address and your phone numberOnce you enter your login information, you will receive two access codes via email. Follow theemail instructions to create your personal login and then log in to the site. After you arelogged in for the first time, you may want to log out and then log back in a second time.During the second login, if you prefer to not receive an access code each time you visit thesite, check “remember this device.”Remember that www.ascension.org/pensioninfo only provides information and services for yourfrozen pension benefits. For information about your Ascension Healthcare Retirement SavingsProgram benefits, go online to the associate portal at www.myascension.org or to Transamerica’swebsite at www.transamerica.com/portal/ascension/. You may also call 877-346-7284 and follow theprompts to speak to a Transamerica representative.Contact Ascension Pension Services Call 877-346-7284 and follow the prompts to speak with an Ascension Pension Servicesrepresentative Email pensionservices@ascension.org Send correspondence to Ascension Pension Services at one of the following addresses:4600 Edmundson RoadSt. Louis, MO 63134orPO Box 45998St. Louis, MO 63145-5998Revised January 1, 2019Ascension Healthcare Legacy Pension Plan Summary1
ContentsFOR INFORMATION ABOUT YOUR BENEFITS . 1CONTENTS . 2SECTION 1: INTRODUCTION . 5THIS DOCUMENT IS A SUMMARY .5SECTION 2: PARTICIPATION AND VESTING . 6PARTICIPATION .6Current Employees .6New Employees .6Pre-Conversion Vested Terminated Employees.7VESTING SERVICE .7BREAKS IN SERVICE .8SECTION 3: YOUR PLAN BENEFITS . 9PLAN BENEFIT FOR CURRENT EMPLOYEES .9Amount of Benefit .9Converting Your Pension Earned as of Your Employer’s Transition Effective Date .9Pension Benefits from the Transition Effective Date to the Freeze Date .10PLAN BENEFIT FOR NEW EMPLOYEES .12Amount of Benefit .13Pension Benefits from Your Hire Date to the Applicable Freeze Date .13MINIMUM LUMP SUM BENEFIT .14PLAN BENEFIT FOR PRE-CONVERSION VESTED TERMINATED EMPLOYEES.14OTHER BENEFITS .15Match Account .15Employee Contributions .15A CLOSER LOOK AT CREDITED SERVICE, EARNINGS AND AGE ADJUSTMENTS .16Credited Service After Your Employer’s Transition Effective Date up to the Applicable Freeze Date .16Credited Service Before Your Employer’s Transition Effective Date .16Highest Average Earnings (HAE) .16Age Adjustment Factor .17SECTION 4: RECEIVING YOUR BENEFITS . 18IF YOU RETIRE .18Retirement at Age 55 and Fully Vested .18Normal Retirement (Age 65).18Retirement After Age 65 .18IF YOU TERMINATE EMPLOYMENT BEFORE AGE 55 .19IF YOU ARE A PRE-CONVERSION VESTED TERMINATED EMPLOYEE .19IF YOU HAVE A MATCH ACCOUNT AND/OR EMPLOYEE CONTRIBUTIONS .19SECTION 5: NAMING A BENEFICIARY . 20SECTION 6: CHOOSING A FORM OF PAYMENT . 21Married Participants .21Single Participants.21Revised January 1, 2019Ascension Healthcare Legacy Pension Plan Summary2
FORMS OF PAYMENT FOR CURRENT AND NEW EMPLOYEES .21Lump-Sum Payment.21Monthly Payment Options .21Comparison of Payment Forms for Current Employees .22Distribution of Other Benefits (Current Employees) .23Comparison of Payment Forms for New Employees .23FORMS OF PAYMENT FOR PRE-CONVERSION VESTED TERMINATED EMPLOYEES.24Comparison of Payment Forms for Pre-Conversion Vested Terminated Employees .25Distribution of Other Benefits (Pre-Conversion Vested Terminated Employees) .25DISTRIBUTION OF SMALL BENEFITS .26TAX HIGHLIGHTS .26Lump-Sum Payments .26Monthly Benefits .27ELIGIBLE ROLLOVER DISTRIBUTIONS .27OTHER PAYMENT RULES .27Payment Schedule .27Required Minimum Distributions .28Benefits to Minors and Incompetents .28Mistakes in Benefit Payments .28SECTION 7: PRE-RETIREMENT DEATH BENEFITS . 29PRE-RETIREMENT DEATH BENEFITS FOR CURRENT AND NEW EMPLOYEES .29Married Participants .29Single Participants.30PRE-RETIREMENT DEATH BENEFITS FOR PRE-CONVERSION VESTED TERMINATED EMPLOYEES.30Married Participants .30Single Participants.31SECTION 8: SPECIAL SITUATIONS . 32IF YOU TERMINATE EMPLOYMENT AND ARE LATER REHIRED AFTER RECEIVING ANY PLAN BENEFITS .32IF YOU TERMINATE EMPLOYMENT AND ARE LATER REHIRED BEFORE RECEIVING ANY PLAN BENEFITS .33IF YOU TRANSFER EMPLOYMENT .33IF YOU WERE CONSIDERED “DISABLED” ON OR BEFORE THE APPLICABLE FREEZE DATE.33Determining Your Benefit.34Receiving Your Plan Benefit Following Disability .34Recovery and Return to Work .34LEAVES OF ABSENCE .34Leaves of Absence (Other Than for Military Service) .34Uniformed Services Rights (Leaves of Absence Due to Military Service) .35SECTION 9: ADMINISTRATIVE PROVISIONS . 36CLAIM PROCEDURES .36Submitting a Claim .36The Initial Determination .36Appealing a Claim .36PLAN AMENDMENT AND TERMINATION .37QUALIFIED DOMESTIC RELATIONS ORDERS .37PLAN ADMINISTRATOR .37PLAN FIDUCIARIES .37PLAN FUNDING .38LIMITATIONS ON LITIGATION.38SECTION 10: PLAN INFORMATION . 39Revised January 1, 2019Ascension Healthcare Legacy Pension Plan Summary3
APPENDIX I: GLOSSARY . 40APPENDIX II: ADDENDA PROVISIONS – COMPONENT PLANS WITHOUT A POST-TRANSITION EFFECTIVE DATE . 47APPENDIX III: ADDENDA PROVISIONS – COMPONENT PLANS WITH A POST-TRANSITION EFFECTIVE DATE . 49APPENDIX IV: SPECIAL PROVISIONS . 51Revised January 1, 2019Ascension Healthcare Legacy Pension Plan Summary4
Section 1: IntroductionThe Ascension Healthcare Legacy Pension Plan (“Plan” or “Pension Plan”) resulted from the merger ofseveral Component Plans into the St. John Health Pension Plan. See the definition of “Component Plans”in the Glossary provided in Appendix I for the specific names of the Component Plans. The merged planwas renamed the Ascension Healthcare Legacy Pension Plan effective January 1, 2018.Benefit accruals and eligibility under the Plan were frozen as ofthe Freeze Date(s) listed for your Component Plan in Appendix II orAppendix III. As a result, you stopped accruing additional pensionbenefits, including Credited Service, as of the applicable FreezeDate.You will not lose any benefits that you have earned through theapplicable Freeze Date if you are Vested in the Plan. And, if youwere not Vested on the applicable Freeze Date, you may continueto earn Vesting Service.Although you will not earn future benefits in the Plan, the lumpsum value of your benefit will increase as your age increases and itwill remain in the Plan until you are eligible for distribution.See the Glossary forDefinitions of TermsMany terms that are defined inthe official Plan document arealso used throughout thisSummary. Other terms that arenot defined in the official Plandocument are used solely forpurposes of this Summary. Allof these terms, which arecapitalized, are defined in theGlossary provided in Appendix I.Also note that “you” refers tothe Participant and “day” or“days” refers to calendarday(s).This Document is a SummaryThis Summary is intended to serve as a summary of the Pension Plan. You should refer to the officialPlan document for details. If there are any discrepancies between the information in this Summary andthe official Plan document, the terms of the Plan document will prevail. The information in thisSummary is intended to be current as of January 1, 2019.This Summary does not constitute a contract of employment or a guarantee of benefits or futureemployment. In addition, your participation in the Plan should not be construed as an employmentcontract.An oral representation regarding the Plan will not be binding on the Plan, even if an oral representationis made by an authorized Plan representative.The Plan is a church plan. Ascension Healthcare, the Employers and the Plan Administrator arecontrolled by or associated with the Roman Catholic Church.It is important that you understand that the Plan is well funded. Ascension Healthcare works regularlywith attorneys, actuaries, investment consultants, investment managers and other experts tomaintain the funded status of the Plan. All Plan assets are held in a Trust Fund that is separate fromthe general assets of Ascension Healthcare and the Employers and can be used only to pay benefitsand expenses of the Plan. However, as a church plan, the Plan is not subject to the EmployeeRetirement Income Security Act of 1974 (“ERISA”) or Pension Benefit Guaranty Corporation (“PBGC”)rules. This means that in the unlikely event that the Plan terminates without sufficient assets to paythe value of your Vested benefit, the PBGC will not provide any portion of your benefit.Revised January 1, 2019Ascension Healthcare Legacy Pension Plan Summary5
Section 2: Participation and VestingParticipationThe Plan is frozen. This means, among other things, that no new individuals are eligible to becomeParticipants in the Plan after the applicable Freeze Date(s).The Freeze Date(s) that apply to your Component Plan areImportant Dateslisted in Appendix II or Appendix III, as applicable. InFreeze Date(s)general, you are a Participant in the Plan if you were anThe date(s) after which Employees of anEmployee who had met the eligibility requirements of theEmployer no longer earn benefits in thePlan prior to your Component Plan’s Freeze Date(s) and hadPension Plan. If you were hired on oraccrued a benefit.after the applicable Freeze Date, you areWhether you are a Participant in the Plan (and how yourAccrued Benefit under the Plan is determined) depends onmany factors, including, but not limited to: The date you were hired; The date you terminate employment; Your Employer’s Transition Effective Date andwhether your date of hire was before, on or afteryour Employer’s Transition Effective Date, and/or Whether your Participating Institution adopted aPost-Transition Effective Date.Current EmployeesYou are eligible for a Pension Plan benefit as a CurrentEmployee if: You were employed by an Employer on the daybefore your Employer’s Transition Effective Date andremained employed on or after the TransitionEffective Date; ornot eligible to participate in this Plan.Transition Effective DateThe date your Employer elected toconvert benefits to a new pension plandesign, including changing the benefitformula so that it defines a Lump SumBenefit payable at age 55 instead of alifetime benefit commencing at age 65.Post-Transition Effective DateIf applicable, a date after the TransitionEffective Date but before the FreezeDate(s) adopted by a specific Employerunder the applicable Component Plan.Employees hired after an Employer’sPost-Transition Effective Date were noteligible to participate in this Plan.Instead, they became eligible foremployer contributions under theAscension Healthcare RetirementSavings Program.For the specific dates applicable to yourComponent Plan, see Appendix II andAppendix III, as applicable.You were not employed on the Transition EffectiveDate, have credited service under any Component Plan (or any defined benefit plan of any entitythat is part of the Ascension Healthcare retirement program) and, as of any rehire date, havenot yet lost credited service under the break-in-service rules under that defined benefit plan.New EmployeesIf your Employer elected this Plan for Employees hired on or after the Employer’s Transition EffectiveDate, you are eligible for a Plan benefit as a New Employee if you were employed by your Employer onor after its Transition Effective Date but before the applicable Freeze Date. To determine whether yourEmployer elected this Plan for New Employees, please see Appendix II and Appendix III, as applicable.Revised January 1, 2019Ascension Healthcare Legacy Pension Plan Summary6
Note: Some Employers adopted a Post-Transition Effective Date under the applicable Component Plan. Ifthis applies to you, and you were hired by your Employer after the Post-Transition Effective Date, youwill receive employer contributions under the Ascension Healthcare Retirement Savings Program, notunder this Plan.Pre-Conversion Vested Terminated EmployeesIf you terminated employment with your Employer before its Transition Effective Date and you wereVested, you are eligible for a Plan benefit as a Pre-Conversion Vested Terminated Employee.Note: If a Pre-Conversion Vested Terminated Employee is reemployed by an Employer on or after theEmployer’s Transition Effective Date, he or she will be re-classified as a Current Employee.Ascension Healthcare Retirement Savings ProgramIf you are not eligible for a benefit under the Pension Plan, any employer contributions made onyour behalf will instead be made to the Ascension Healthcare Retirement Savings Program.If you are eligible for a benefit under this Plan and were still employed as of the applicableFreeze Date, any employer contributions made on your behalf to the Ascension HealthcareRetirement Savings Program will begin after the applicable Freeze Date.See For Information About Your Benefits at the beginning of this Summary to learn how to accessinformation about your Ascension Healthcare Retirement Savings Program benefit.Vesting ServiceVesting refers to your ownership, or your nonforfeitable right to receive, the benefits you earn as aParticipant in the Plan.You earn 1 year of Vesting Service for each calendar year in which you are credited with at least1,000 Hours of Service with an Employer or an Associated Entity.Note: All Hours of Service related to a single payroll period will be credited only to the calendar year thatincludes the pay date related to that payroll period, even if some or all of the hours were actuallyworked in the prior calendar year.Participants can continue earning Vesting Service after the applicable Freeze Date.If you were not Vested on the applicable Freeze Date, you will become Vested in your Accrued Benefit,provided you are an actively-employed Participant: After earning 5 years of Vesting Service, When you reach age 65, At the time of your death, or As otherwise specified in the Plan.You may also be entitled to Vesting Service for your period of employment prior to the date yourEmployer adopted the applicable Component Plan or for your period of employment with an employerthat was acquired by your Employer. This Vesting Service will be calculated in accordance with theconditions set forth at the time your Employer adopted the applicable Component Plan.Revised January 1, 2019Ascension Healthcare Legacy Pension Plan Summary7
If you are not Vested upon your Termination of Employment, you are not entitled to a benefit under thePension Plan.Disabled Participants who did not meet the Vesting requirements of the Plan as of the applicable FreezeDate automatically became Vested in their benefits earned as of the applicable Freeze Date.Breaks in ServiceThe term “Break in Service” means any calendar year in which you are not credited with more than500 Hours of Service, regardless of whether you are actively employed or have terminated employment.However, no Break in Service will occur in any Plan Year, regardless of the number of Hours of Servicethat you earned, if you are credited with any Vesting Service for that Plan Year. Also, an Employee orParticipant who has terminated employment will not incur a Break in Service in the first Plan Year thathe or she fails to be credited with more than 500 Hours of Service solely because of maternity orpaternity absence or absence under the Family and Medical Leave Act of 1993.If you have 5 or more consecutive Breaks in Service at a time when you are not Vested, your years ofVesting Service and Credited Service are forfeited.Breaks in Service before your Employer’s Transition Effective Date are determined according to theprovisions of the Component Plan in effect before that date.Revised January 1, 2019Ascension Healthcare Legacy Pension Plan Summary8
Section 3: Your Plan BenefitsThe amount of your Pension Plan benefit at retirement and the formula used to calculate your AccruedBenefit depend on whether you are a Current Employee, New Employee or Pre-Conversion VestedTerminated Employee.Your Accrued Benefit is the benefit you have earned under the Pension Plan as of a specific date. NoEmployee earned any additional Accrued Benefit attributable to Credited Service or Earnings after theapplicable Freeze Date.Plan Benefit for Current EmployeesIf you are a Current Employee, the Pension Plan provides a Lump Sum Benefit based on: Your Opening Balance, Your years of Credited Service through the applicable Freeze Date, Your Highest Average Earnings (HAE), which is the average of your highest 5 consecutivecalendar years of Earnings during your last 10 years of employment, up to the applicable FreezeDate, and Your age at the time you request a distribution.Benefits are payable as early as age 55, provided you have terminated employment with all AssociatedEntities.Amount of BenefitAt retirement, your Pension Plan benefit equals the greater of the Accrued Benefit as described in thissection or the minimum lump sum benefit as determined according to the Minimum Lump Sum Benefitsection on page 14. At retirement, your Accrued Benefit takes into account: The lump-sum value of the Accrued Benefit you earned under your Component Plan through theday before your Employer’s Transition Effective Date, updated thereafter as your Earnings mayhave increased before the applicable Freeze Date, and Any benefit you earned between your Employer’s Transition Effective Date and the applicableFreeze Date under the lump-sum formula.Your benefit will be adjusted for increases in your age.If you were a Participant in the Catholic Health Partners Pension Plan, you may also be eligible for anAccount Based Benefit (more commonly known as a Match Account). See Other Benefits later in thisSection 3 for details on these benefits.Converting Your Pension Earned as of Your Employer’s Transition Effective DateYour full Accrued Benefit as of the day before your Employer’s Transition Effective Date (that is, theannual lifetime benefit payable at age 65), was determined based upon the pension benefit formula andyour Credited Service and Highest Average Earnings (HAE) on the day before your Employer’s TransitionEffective Date.Revised January 1, 2019Ascension Healthcare Legacy Pension Plan Summary9
Your Accrued Benefit as of the day before your Employer’s Transition Effective Date was converted froma monthly benefit payable at age 65 to a lump-sum am
Ascension Healthcare Legacy Pension Plan benefits, are available through Benefit Connect at Online services for any frozen pension benefits you may have at your Employer, including your; Access Online Ascension Pension Services; Revised January 1, 2019 Ascension Healthcare Legacy Pension Plan Summary 2 .
Ascension Healthcare Pension Plan benefits, are available through Benefit Connect at Online services for any frozen pension benefits you may have at Ascension, including your Access Online Ascension Pension Services St. Louis, MO 63145-5998 PO Box 45998; or St. Louis, MO 63134
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