We recognize that many PRNs received lower than normal hours in 2020 due to COVID-19 scheduling policies. As a result, in recognition of their valuable service and dedication, we are reducing the 2020 hours requirement for PRNs from 1,000 to 800 hours for the 401(k) Plan annual match and vesting service.
For eligible PRN colleagues who participate in the 401(k) Plan and who were employed in a PRN status on Dec. 31, 2020, this means:
- A year of vesting service will be granted if their annual eligible hours totaled at least 800.
- An annual 401(k) Plan match will be deposited to their account in February 2021 if their annual eligible hours totaled at least 800.
In addition, an Employee Retirement Assistance Contribution will be deposited in accounts of eligible PRN colleagues if their annual eligible hours totaled at least 1,280 (reduced from 1,600), they were employed on Jan. 1, 2020, and they were still employed in a PRN status on Dec. 31, 2020.
These changes apply to all PRNs - regardless of location or labor union representation - because it is the right thing to do.
Note that this only affects the 2020 annual match for PRNs, and that the 1,000 hours requirement will remain for full-time and part-time colleagues.
Participants can access their 401(k) Plan account by going to www.HCARewards.com and selecting BConnected or by calling (800) 566-4114.
