Retiring from Memorial Health

Plain-English Answers

For the nurses, techs, and staff at Memorial Health University Medical Center: how the HCA 401(k) actually works, what vesting means for your timing, where pre-2018 money might live, and the decisions that deserve attention before your last shift.

Educational information, not individualized advice. Savannah Wealth Group is not affiliated with, endorsed by, or sponsored by Memorial Health, HCA Healthcare, or any of their affiliates.

Your money map

• The HCA 401(k) and its tenure-based match. Memorial has been part of HCA Healthcare since 2018, and per public plan summaries the HCA 401(k) has matched dollar-for-dollar on 3% of pay, with the matched percentage stepping up with years of service — described as reaching as much as 9% for long-tenured employees. Translation: tenure literally raises your free-money line, and your contribution rate should always at least meet your current tier. Confirm your tier in the benefits portal.
  
• Vesting — when the match becomes yours. Your own contributions are always yours; the match typically vests gradually, with public summaries describing full vesting around six years of service. If a job change is on your horizon, the vesting calendar is worth checking before you pick a date — a few months can change what leaves with you.
  
• Pre-2018 Memorial money. If you contributed before the HCA acquisition, balances may exist under legacy Memorial-era plans — merged, frozen, or parked at an old recordkeeper. Ask HR or the benefits line to confirm every account with your name on it, in writing. Money survives acquisitions; the paper trail often doesn’t.
  
• The stock purchase plan. Public materials describe an HCA employee stock purchase plan with discounted shares. A discount is a genuine benefit — with the caution that your paycheck, benefits, and investments already ride on one company. Keep any single stock a modest slice of the whole.
  
• Accounts from past lives. Old 403(b)s from nonprofit stops, 401(k)s from for-profit ones — different rules, different fees, easy to lose. The consolidation decision gets its own section below.
  
  

The timeline

1. Five years out: capture the full match every payday; confirm any legacy benefits in writing; inventory every old account and consolidate deliberately; start a written income plan — what retirement costs per month, and which accounts will pay it.
2. One year out: model Social Security timing rather than defaulting; price the health-coverage bridge to Medicare; plan which tax year final payouts land in; get every one-time election analyzed before paperwork.
3. Ninety days out: confirm plan-withdrawal mechanics and beneficiaries; set up the first year of income before the last paycheck stops; schedule the tax plan for year one — the lowest-income years early in retirement are often the best planning window of a lifetime.

The five decisions that matter most

1. Every match dollar, every year. The employer match outperforms any investment you’ll pick. Set the contribution once, raise it with every evaluation, never leave it unclaimed.
2. What to do with every old account. Leave, roll in, roll to an IRA, or cash out — per account, on purpose. Two doors close permanently if rushed: cashing out costs taxes plus penalties before 59½, and rolling a current 401(k) to an IRA gives up rule-of-55 early access (leave your employer in or after the year you turn 55 and that employer’s 401(k) can generally be tapped penalty-free — confirm your plan’s withdrawal flexibility before relying on it).
3. Social Security, calculated. Sixty-two is permanently smaller; seventy is permanently larger; the right answer is personal math involving health, spousal benefits, and PRN income — which the earnings test can penalize before full retirement age.
4. The bridge to Medicare. Retire before 65 and coverage is the most underpriced line in the plan: spouse’s plan, COBRA, marketplace coverage (where your withdrawal strategy sets your premium), or benefit-carrying part-time work. Price it before picking a date.
5. Let Georgia help. Georgia is kind to retirees: Social Security isn’t taxed by the state, and the retirement income exclusion currently shelters up to $35,000 of retirement income per person at ages 62–64 and up to $65,000 per person at 65 and older — covering income like 401(k) withdrawals and IRA distributions within the limits. Figures change; confirm current numbers with the Georgia Department of Revenue or your tax professional.

Mistakes we see from hospital retirees

• Leaving months before a vesting milestone and forfeiting match dollars a short wait would have kept.
  
  
• Assuming pre-2018 money “rolled over automatically” — and finding the orphan account years later, or not at all.
  
  
• Letting discounted employer stock quietly grow into a concentrated position.
  
  
• Claiming Social Security at 62 by reflex while still working PRN shifts — the earnings test quietly withholds benefits.
  
  
• Retiring at 59 with no priced plan for health coverage until Medicare at 65.

This guide is for educational purposes only and does not constitute individualized investment, tax, or legal advice. Strategies referenced involve eligibility requirements, risks, and tradeoffs and may not be appropriate for your situation. Consult a qualified tax professional or attorney regarding your circumstances. Savannah Wealth Group does not provide tax preparation or legal services.

Savannah Wealth Group is not affiliated with, endorsed by, or sponsored by St. Joseph’s/Candler Health System. Benefit-plan features described are drawn from publicly available sources as of September 2026, may not reflect the provisions applicable to your situation or employee group, and may change at any time; official plan documents govern. Confirm details with your plan administrator, benefits office, or the relevant government agency.

Securities and Advisory Services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Advisor. Fixed insurance products and services are separate from and not offered through Commonwealth Financial Network.