Pension FAQs

Erlanger is partnering with Pension Benefit Information (PBI) to confirm contact information and addresses of all plan participants. If you receive a letter from PBI, please respond using the instructions provided to ensure we have your correct contact information.

As part of our long-term retirement planning strategy, The Board of Directors of Chattanooga-Hamilton County Hospital Authority (the "Authority"), as the Plan Administrator, has decided we will be winding down operations of the Chattanooga-Hamilton County Hospital Authority Pension Retirement Plan and Trust (the "Plan").

The Notice of Intent to Terminate (NOIT) is to inform anyone who is entitled to a pension benefit under the terms of the Plan of their decision to terminate the Plan. The NOIT is the first of many communications that you will receive about the Plan termination.

The Plan termination does NOT change the benefit that you have earned or the monthly benefit you are receiving under the Plan. The Plan’s rules governing benefit commencement also will not change. However, the Plan termination may impact the administration of the plan.

Current retirees: You will continue to receive your monthly benefit in accordance with the terms of the form of annuity you elected at your retirement. At the end of the Plan termination process, you will be notified in writing of the name and address of the newly selected, highly rated insurer who will provide your annuity payments moving forward. Your payments will continue as scheduled and no action is required.

Actively working employees and terminated former employees: The benefit payable to you, as well as the existing Plan rules around benefit commencement, will not change. However, as a result of the termination of the Plan, you have the opportunity to receive your benefit early during the Plan’s distribution window, beginning January 2026 through February 20, 2026. Final election materials will be mailed from Empower on January 9, 2026, with your specific benefit election options available. Election forms must be postmarked by the return date of February 20, 2026.

Current retirees: If you are currently receiving a monthly distribution payment from the Plan, there will be no change to your benefit or payment schedule. You will continue to receive your monthly payments as usual – no action is required on your part.

You will have the opportunity to change or update your address and/or bank account information if you wish to make any changes.

Actively working employees: Your specific benefit election options available to you will be outlined in your final election materials. If the lump sum value of your benefit is less than or equal to $7,000, you will receive a lump sum distribution. If the lump sum value of your benefit is greater than $7,000, you have three election options available to you.

• You will have the option to elect a lump sum distribution of your earned benefit.
  • You can roll your benefit into Erlanger’s defined contribution plan or another retirement plan on a tax-deferred basis.
• You also will have the option to elect a monthly annuity payment.
• You can choose to defer your election to a later date.

Terminated former employees: During the Plan’s termination election window, you have the opportunity to receive your benefit early. You have three election options available to you. More information will be provided in the coming months.

• You will have the option to elect a lump sum depending on your preferences and eligibility, beginning July 1, 2025.
• You also will have the option to elect a monthly annuity payment, depending on your preferences and eligibility, beginning July 1, 2025.
• You can choose to defer your election to a later date.

If you choose to do nothing at the time of the plan termination election window, an annuity will be purchased on your behalf from a reputable licensed insurance company. The terms of this annuity will be consistent with the current Plan provisions, and you will be eligible to commence under the terms of the Plan once you have met retirement eligibility (which depends on your age and applicable plan service).

The Plan termination date is December 31, 2025.

The Notice of Plan Benefits (NOPB) outlining the specific benefits that you are entitled to under the Plan were mailed on October 29, 2025. A Supplemental Notice of Annuity Information was included for retired participants, identifying the list of insurers for annuity contracts.

Final Benefit Election Packages are being mailed on January 9, 2026, where you will elect how to receive your Plan benefit. All distribution options will be explained in your Benefit Election Package.

Election forms must be postmarked by the return date of February 20, 2026.

The Distribution Date (expected payout date) is expected to occur on or near April 1, 2026. However, the actual payout could be earlier or later depending upon your election choice and other administrative factors.

On the Distribution Date, all ongoing benefit payments will be transferred to an insurance company and all immediate single sum payments will be distributed.

As of the expected payout date, the Plan is fully funded, meaning you will receive 100% of the benefit you’ve earned. Once all payments and benefit obligations have been transferred, the Plan’s operations will end.

No. Your pension benefit is protected by law and cannot be taken away, meaning you will receive 100% of the benefit you’ve earned. If you are receiving a monthly payment now, you will continue to receive that benefit in the form you have chosen. If you have not yet commenced your benefit, you will have an opportunity to choose how to receive the benefit that you have earned.

Current retirees: If you are currently receiving a monthly distribution payment from the Plan, there will be no change to your benefit or payment schedule and no action is required on your part.

Actively working employees and terminated former employees: You can sign up for a free, one-on-one session with a financial adviser from SageView to discuss your specific pension benefit and election options.

• In-Person Session (Baroness Hospital): Register Here
• Virtual Zoom Session: Book Appointment
• Participant Help Center: 1-888-804-7243

No, the method that you receive your monthly payment will not change. There will be no change to your benefit or payment schedule, and you will continue to receive your monthly payments as usual. No action is required on your part.

Your payment information will be provided to the selected annuity provider, including deductions and payment method. You will have the opportunity to change or update your address and/or bank account information if you wish to make any changes.

Once the benefit payments and obligations are transferred, the insurance company will be responsible for paying your benefit.

As an additional financial backstop, every state (plus D.C. and Puerto Rico) has an “insurance guarantee association.” The purpose of an insurance guarantee association is to protect policyholders, up to specified limits, in the event the insurance company is financially unable to meet its obligations.

If you have any questions regarding the Plan termination, your benefits under the Plan, or updating your personal information, please contact the Empower Call Center at 800-338-4015, Reference Contract # 17470.