Since a group of Savannah physicians founded it in 1996, SouthCoast Health has grown into one of the region's largest independent medical groups: about 120 physicians and medical professionals across 18 locations, from Eisenhower Drive to Statesboro. Thirty years in, many of the people who built it are starting to think about their own next chapter. Whether you've spent a decade at a front desk in Pooler or a career in the exam room, here's how retirement from SouthCoast works, what to check before you choose a date, and the handful of decisions that deserve more than a signature.
Educational information, not individualized advice. Savannah Wealth Group is not affiliated with, endorsed by, or sponsored by SouthCoast Health, SouthCoast Medical Group, LLC, Privia Health, or Voya Financial.
Start with what you actually have
For most SouthCoast employees, the core retirement benefit is a 401(k). Per public filings, it's the SouthCoast Medical Group, LLC Profit Sharing 401(k) Plan, and SouthCoast's job postings describe it as a 401(k) with an employer contribution. Public plan data also points to features like automatic enrollment, a default investment for people who never pick one, and a self-directed brokerage window, with Voya listed as the recordkeeper. Treat all of that as orientation, not gospel: plans change, and your own account and plan documents are what count.
Two words in that plan name deserve your attention: profit sharing. A profit-sharing 401(k) lets the employer contribute beyond any match, usually at its discretion, and plans commonly attach conditions to that money, such as a minimum number of hours worked in the year or being on the payroll on the last day of the plan year. Employer contributions may also vest over a schedule, while the money you contributed yourself is always yours. The details live in the plan's summary plan description (SPD), which SouthCoast makes available to employees through its benefits resources. Read it before you circle a date. It's the rulebook.
Why your last day matters more than you think
At a lot of workplaces, a retirement date is a feeling. At an employer with a profit-sharing plan, it's also a number. Answer these before you pick one:
- Am I fully vested? If some of your employer money is still vesting, a few more months could change what leaves with you. Your vested balance shows on your plan statement.
- Does this year's employer contribution depend on my being here? If the plan requires you to be employed on a certain date, or to work a certain number of hours, leaving in November instead of January could mean walking away from a full year's contribution.
- When will my final paychecks land? A PTO payout counts as ordinary income in the year it's paid. Stacked on top of a full year of salary, it can be taxed at a higher rate than the same money would be a few weeks later, in January.
- When does my health coverage end? Coverage commonly ends on your last day or at the end of that month. Confirm SouthCoast's rule with HR before you set the date, not after.
Five decisions that deserve more than a signature
1. What to do with your 401(k)
You generally have four choices: leave it in the plan, roll it to an IRA, roll it into a new employer's plan, or cash it out. Cashing out is almost always the most expensive option, with ordinary income tax on the whole amount plus a 10% penalty if you're under 59½. The other three each involve tradeoffs in fees, investment choices, and flexibility.
One detail matters for anyone retiring in their mid-to-late fifties. Under the IRS "rule of 55," if you leave your employer in or after the calendar year you turn 55, withdrawals from that employer's 401(k) generally escape the 10% penalty. Roll the money to an IRA and that early access is gone for good. If you might need the money before 59½, don't rush the rollover, and check the SPD to see whether the plan allows partial withdrawals rather than only a lump sum.
2. When to claim Social Security
Claiming at 62 permanently reduces your benefit, by about 30% for anyone born in 1960 or later, whose full retirement age is 67. Waiting past full retirement age adds about 8% a year until 70. For married couples, the higher earner's decision also sets the survivor's income, because the surviving spouse keeps the larger of the two checks.
If you plan to pick up PRN shifts, know the earnings test. Claim before full retirement age and keep working, and Social Security withholds $1 of benefits for every $2 you earn above $24,480 (the 2026 limit). Your benefit is recalculated later to credit those months, but in the meantime the withholding can upend a budget.
3. How you'll cover health care until 65
The irony isn't lost on anyone in medicine: retire before 65, and your own health coverage becomes one of the biggest line items in your plan. The usual bridges are COBRA (generally up to 18 months, at full cost), a working spouse's plan, a marketplace plan, or part-time work that carries benefits. Marketplace premium help depends on your income, so how you draw from your accounts in those years can change what you pay.
At 65, enroll in Medicare on time. Your initial window is a seven-month period around your 65th birthday, and missing it without other qualifying coverage can mean late-enrollment penalties that last for life.
4. How to make Georgia's tax rules work for you
Georgia is kind to retirees. The state doesn't tax Social Security, and for 2026 its retirement income exclusion shelters up to $35,000 of retirement income per person at ages 62 to 64 and up to $65,000 per person at 65 and older, covering income such as 401(k) and IRA withdrawals. A law signed in 2026 raises the exclusion for those 65 and older to $70,000 beginning in 2027.
Now add the years between your last paycheck and your first required minimum distribution, which starts at 73, or at 75 if you were born in 1960 or later. Many retirees get a stretch of unusually low-tax years that can be used for Roth conversions and other planning. Confirm current figures with the Georgia Department of Revenue or your tax professional before you build a plan around them.
5. What to do about the accounts you left behind
Medical careers move around, and each stop can leave an account behind: a 403(b) from a nonprofit hospital, a 401(k) from a private practice. SouthCoast's own plan shows the pattern. Its most recent public filing indicates that roughly a third of its accounts belong to people who no longer work there.
Leaving money in a former employer's plan can be perfectly reasonable, but it should be a decision rather than a default. Start by listing every retirement account you've ever had, along with its fees and investment options. Then decide where each one belongs.
For physicians and providers: more moving parts
If you're one of SouthCoast's physicians or advanced practice providers, retirement usually comes with more paperwork and more at stake.
- Your agreements come first. Employment agreements, any ownership documents, and any agreements tied to Privia Medical Group–Georgia, which SouthCoast joined in 2019, typically set notice periods, buyout terms, and restrictive covenants. Have your attorney read them before you announce a date.
- Your last working years are prime saving years. For 2026, the 401(k) limit is $24,500, plus an $8,000 catch-up at age 50 or older, or $11,250 if you're 60 to 63. New for 2026: if your prior-year wages from the plan's sponsor topped $150,000, catch-up contributions must go in as Roth. Make sure your elections follow the new rule.
- Expect a tax spike, and plan around it. A final year that stacks salary, bonuses, any buyout proceeds, and deferred payments can be the highest-income year of a career. Timing those payments, bunching charitable gifts (a donor-advised fund is one common tool), and saving Roth conversions for the quieter years that follow can make a meaningful difference.
- Ask about tail coverage. If your malpractice coverage is claims-made, find out how retirement is handled before you set a date. Terms vary.
- Consider a glide path. Part-time schedules, locums, or PRN work can ease the transition and smooth your income. Keep the Social Security earnings test and the plan rules above in mind.
- Look beyond the 401(k). Some medical groups offer additional arrangements, such as cash balance plans or deferred compensation. If you take part in anything like that, each has its own distribution rules and deadlines.
A simple countdown
Five years out: Capture every dollar of employer contribution you're eligible for. Learn your vesting status. List every retirement account you own. Sketch a written income plan: what you'll spend each month, and which accounts will pay for it.
One year out: Model your Social Security options instead of defaulting to a birthday. Price your health coverage bridge. Check possible dates against the plan's contribution and vesting rules. Physicians: have your agreements reviewed.
Ninety days out: Confirm beneficiaries and distribution paperwork. Set up your first year of retirement income before the last paycheck arrives. Book a tax-planning conversation for year one; the low-income years right after retirement are often the best planning window you'll get.
Talk it through before you decide
If you're weighing retirement from SouthCoast, whether next year or ten years from now, bring your latest 401(k) statement (or just your questions) to a free, no-pressure conversation at our Savannah or Statesboro office, or by video. We'll walk through your situation in plain English, and we coordinate with your CPA and attorney rather than replacing them.
Schedule online: calendly.com/savannah-wealth-group/consultation · (912) 999-1805 · rob@savannahwealthgroup.com
Savannah — 7393 Hodgson Memorial Dr, Suite 201, Savannah, GA 31406
Statesboro — 502 Gentilly Road, Statesboro, GA 30458
This article is for educational purposes only and does not constitute individualized investment, tax, or legal advice. Strategies referenced (including Roth conversions, charitable planning, and Social Security claiming) 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 SouthCoast Health, SouthCoast Medical Group, LLC, Privia Health, or Voya Financial. Benefit-plan features described are drawn from publicly available sources as of September 2026, may not reflect the provisions applicable to you, and may change at any time; official plan documents govern. Confirm details with SouthCoast's benefits team, your plan administrator, or the relevant government agency.
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