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Post Employment Health Plan
The Village of Hinsdale’s post employment health plan (PEHP) creates a tax advantaged savings/investment to assist employees in covering retiree health costs. A PEHP is an investment account for the payment of post employment qualified medical expenses. The plan is administered by Nationwide Retirement Solutions. All full-time employees must participate in the plan.
The PEHP is funded by 1% of each employee's pre-tax salary. Of that 1%, $10 each pay period goes into PEHP Section 105. Section 105 can be used to pay for prescriptions, eye care, etc. The balance gets deposited into Section 106, which is used to pay for your insurance premiums after you retire. Employees may access their PEHP account upon retirement to pay for qualified medical expenses.
The following provisions are in place for the PEHP plan:
- 100% of the eligible employee Sick Time Incentive Program will be paid into the fund on the employee’s behalf.
- 100% of the Sick Leave Buyout at Separation will be paid into the fund on the employee’s behalf.
- First day of compensatory time will be converted to dollars and paid into fund on employee’s behalf.
Participating employees will receive quarterly statements from Nationwide. For more information regarding the PEHP plan, please contact Kim Trausch at (630) 789-7024/ktrausch@villageofhinsdale.org OR hr@villageofhinsdale.org