Retirement Savings

Page Header

Last updated date: 5/6/2024

The Novant Health Retirement Plus Plan is the simple, rewarding way to save for your future.


Novant Health helps you prepare for retirement with the easy-to-use, tax-advantaged Novant Health Retirement Plus Plan.

Key advantages

Company contributions

Novant Health contributes to your account to help your savings grow faster.

Current tax savings

You’ll pay less in income taxes when you make pre-tax contributions from your paycheck.

Tax-deferred investment growth

Pre-tax contributions let your money grow without being taxed until you withdraw it.

Wide range of investment options

You choose how you want to invest your money.

Eligibility and enrollment

You are immediately eligible upon your date of hire, and you will be automatically enrolled in the Plan at 4% of your eligible pre-tax pay. Your account will be invested in the State Steet Target Retirement Fund based on your date of birth unless you direct otherwise. You may change your contribution rate and investment elections at any time by visiting the Fidelity website or calling 1-800‑343‑0860.



Get started by visiting the Fidelity website to view plan details and access forms and documents.



Log in to your Fidelity account to see your balance and use planning tools and calculators.



Easily change your contribution rate, investment selections, or beneficiary on the Fidelity website.

Your Contributions

You may contribute between 1% and 60% of your eligible pay to your plan account, up to annual IRS limits.

2024 contribution limits

  • $23,000 if you’re under age 50
  • $30,500 if you are age 50 or older this year (which includes an additional $7,500 in catch-up contributions)

These limits include your pre-tax contributions, Roth after-tax contributions, or a combination of both.

Pre-tax vs. Roth after-tax: What’s the difference?

The Novant Health Retirement Plus Plan gives you the flexibility to save for retirement with pre-tax contributions, Roth after-tax contributions, or both.

  • With pre-tax contributions – the money goes into your account before taxes are deducted, so you keep more of your take-home pay.
  • With Roth after-tax contributions – the money goes into your account after taxes are withheld, but both your contributions and any associated earnings can be withdrawn tax-free in retirement.*

*In order for Roth earnings to be withdrawn tax-free, you must be at least 59½ (or the withdrawal follows death or total disability), and at least five years must have elapsed since your first Roth contribution.

Catch up!

If you’ll be 50 or older this year, take advantage of the opportunity to contribute up to an additional $7,500 in catch-up contributions.

Company Contributions

Novant Health helps you reach your retirement goals faster by making valuable company contributions to your account:

  • Company matching contributions – Novant Health matches 100% of your pre-tax and Roth after-tax contribution to the plan, up to 6% of your eligible pay* to support your retirement saving efforts.

*Eligible pay includes your base salary, not including any bonus or commissions.

Here’s how the company match works:

Company match: For every $1.00 you contribute, the company contributes $1.00 and $2.00 goes into your account! (up to 6% of your pay).

Don’t say no to free money!     

Contribute at least 6% to take full advantage of the match — otherwise, you’re leaving free money on the table. Log in to your Fidelity account to increase your contribution rate.


Vesting is another way of saying “how much of the money is yours to keep if you leave the company.”

You are always 100% vested in your own contributions, including any investment gains and losses on the money. You become vested in company contributions after three years of service. A year of service equals 1,000 hours and years of service do not have to be consecutive.

Name a Beneficiary

It’s important to designate a beneficiary to receive the value of your Novant Health Retirement Plus Plan account in the event you die before beginning to receive your benefit. As personal circumstances change, be sure to keep that information up to date. Visit the Fidelity website to add or change your beneficiary.

Withdrawals and Loans

The money in your account is a long-term investment to help you prepare for your financial needs in retirement. However, under certain circumstances, you may be able to access money from your account before reaching retirement age. For more information, visit the Fidelity website or call 1-800‑343‑0860.

Think before you act

  • If you’re considering taking a withdrawal or loan from your plan account, be sure to think about the impact it may have on your future. Taking money from your account now may lead to a smaller savings balance when you retire.
  • Not only are you taking money away from your retirement savings, but the burden of repaying the loan may make it harder to get back on track.
  • If you take a loan, you’ll also lose more money to taxes because the interest payments on your loan are made with money that has already been taxed, and it will be taxed again when withdrawn from your account.
  • If you withdraw pre-tax money from your plan account, in addition to paying current taxes on the money, you may have to pay an additional 10% penalty tax if you are younger than age 59½ (or, age 55 if you have retired or left the company).

Tools & Resources

Take an active role in your retirement planning with these helpful tools and resources.


Retirement calculator

Estimate how much you may need and how much you may have for retirement.


Professional guidance

Consult with a professional financial advisor and receive guidance to help you achieve your goals.


Fidelity website

Access tools and education on your plan website to help you make informed investment decisions.

Before investing, carefully consider the funds’ or investment options’ objectives, risks, charges, and expenses. Call 1-800‑343‑0860 for a prospectus and, if available, a summary prospectus, or an offering circular containing this and other information. Please read them carefully. Investing involves risk, including the risk of loss.