Retiring from St. Joseph’s/Candler

Your Future

For the nurses, techs, and staff who've built careers across the St. Joseph's and Candler campuses: how your retirement benefits work, what to do with accounts left at other hospitals, 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 St. Joseph's/Candler Health System.

Your money map

• The 401(k) and its match. Per the system’s published careers materials, SJ/C matches 50% of what you contribute up to 6% of pay — contribute 6% and the system adds roughly 3% — with matching beginning after one year of service, plus a possible discretionary contribution in strong financial years. The match is the highest-yielding dollar in your plan; capture all of it before optimizing anything else.
• A possible legacy pension. Public benefit listings reference pension-type benefits alongside the 401(k) — often the fingerprint of an older, closed plan. If you’ve been with the system for decades, ask HR in writing whether any legacy or frozen benefit exists for you. Pension elections at retirement are one-time and irreversible; knowing early is worth real money.
• The PTO conversion. The published option to cash out PTO twice a year at 75% of value becomes a tax-timing tool in your final working years — a large final-year payout stacked on a full salary can land in a higher bracket than the same dollars taken across the retirement line.
• The nonprofit advantage. SJ/C’s not-for-profit status generally makes employment there count toward Public Service Loan Forgiveness on federal student loans, and the system publicizes loan-planning support. If loans are part of your household, coordinate that strategy with your retirement saving — they draw from the same paycheck.
• Accounts from past lives. Most healthcare careers leave a trail — a 403(b) at one system, a 401(k) at another. They don’t manage themselves; 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

• Cashing out small accounts between jobs — taxes plus a 10% penalty before 59½, and the compounding never comes back.
  
  
• Never asking whether a legacy pension exists — then facing a one-time election with a deadline and no analysis.
  
  
• Taking the full PTO payout in the highest-earning year of a career, when waiting months would have changed the bracket.
  
  
• 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.