Ascension is a non-profit healthcare organization that provides care to individuals across the United States. Ascension offers a pension plan to its employees to help them save money for retirement. The plan is funded by both the employer and the employee, with the employer contributing a set amount each year and the employee making additional contributions through payroll deductions.
The pension plan offered by Ascension is a defined benefit plan, which means that the amount of retirement income an employee receives is based on a formula that takes into account the employee's years of service and salary. The plan is designed to provide employees with a reliable source of retirement income that will last for the rest of their lives. Ascension also offers a 401(k) plan to its employees, which allows them to save additional money for retirement through pre-tax contributions.