As a healthcare professional, you dedicate your skills and expertise to helping your patients live healthier, more fulfilling lives. At TrueCare, we believe in extending that same commitment to your financial well-being. If you’re considering joining our nonprofit organization to do meaningful work and uplift your community, you may be wondering, “Does TrueCare offer employees a 401(k) plan?” While we don’t offer a traditional 401(k), our retirement options are designed with your future in mind, offering similar benefits to help set you up for long-term financial success. 

“At TrueCare, we believe the dedication you show to improving the lives of your patients should be matched by our commitment to your future,” said Becky Sanchez, the Director of Talent Acquisition at TrueCare. “Just like you invest in the health of your community, we invest in the financial well-being of our team, ensuring that together, we’re building a brighter future for everyone,” explained Sanchez. 

Let’s dive into what you can expect from TrueCare’s retirement program and how we’ll help you plan for a bright future!

Does TrueCare Offer Employees a 401(k) Plan?

Technically, we don’t offer a 401(k) plan – instead, we offer a 403(b) plan at TrueCare. Our 403(b) plan is an excellent financial tool that helps you plan for your future by saving a portion of each paycheck and works similarly to a 401(k) plan. 

Upon hire, you are automatically enrolled to have 3% of your paycheck withheld and invested in a 403(b) account, subject to federal law and plan guidelines. You may contribute up to the 2025 federal dollar limit of $23,500. Employees who will be 50 or older by the end of the year may contribute an additional $7,500 in “catch-up” contributions. 

Following your one-year anniversary, we will make discretionary matching contributions in an amount equal to 100%, up to 3% of your eligible compensation. 

“When you join the TrueCare team, you’re not just taking a job; you’re becoming part of a family that values your long-term success,” said Sanchez. “It’s something truly special about joining our organization. We know that by investing in your future, we’re empowering you to give your best to the communities we serve, creating a cycle of care that goes beyond the health center,” she elaborated. 

403(b) vs. 401(k): What’s the Difference?

Still, if you are unfamiliar with nonprofit work, you may be unfamiliar with the difference between these two retirement plans. While both a 403(b) and 401(k) help you save for retirement in similar ways, there are key differences between a 403(b) vs. 401(k) plan: 

• Eligibility: 401(k) plans are offered by for-profit businesses, while 403(b) plans are offered by nonprofit organizations and government entities. 
• Investment Options: 401(k) plans typically offer a wider variety of investment options, while 403(b) plans have more limited options.
• Employer Match: Many 401(k) plans offer employer matching contributions, which is less common with 403(b) plans. However, at TrueCare, we do offer matching options following your one-year anniversary to maximize your retirement savings! 
• Vesting: Employer contributions to 401(k) plans typically vest over time, while employer contributions to 401(b) plans could vest faster. 
• Universal Availability Requirement: 403(b) plans are subject to the “universal availability requirement,” meaning that with few exceptions, all employees must be eligible to participate, regardless of their length of service.

Can You Roll Over a 401(k) to a 403(b)? 

Now that you know the difference, you may have a different concern, especially if you have already contributed to a 401(k) plan and are considering making the exciting switch to a 403(b) by joining our nonprofit organization! 

This concern likely revolves around the question: Can you roll over a 401(k) to a 403(b)? Generally, yes, you can roll over your 401(k) to a 403(b) so you can continue progressing toward retirement! But it is advisable to check to confirm that both plans allow it.

Can a 403(b) Rollover to a 401(k)? 

Another common concern is whether or not you can rollover your 403(b) to a 401(k). After all, you never know where your career will take you, so flexibility is important! So, can a 403(b) be rolled into a 401(k)? Typically, yes, you can roll over a 403(b) into a 401(k) plan.

“We sincerely believe that your commitment to others deserves to be rewarded with the financial security that lets you thrive—not just today, but well into the future,” said Sanchez. “We’re proud to support our employees as they build their careers, knowing that by investing in your future, we’re making a lasting impact on the health of entire communities,” she added. 

Do You Want to Enjoy a Competitive 403(b) Plan? Apply Today for these Benefits and More!

So, does TrueCare offer employees a 401(k) plan? Technically, we offer a 403(b) plan, but it serves the same function as a conventional 401(k) plan. At TrueCare, we’re committed to not only supporting the health of our patients but also ensuring that you, as an invaluable member of our team, have the financial resources to secure a bright future. While our retirement plan may not be a traditional 401(k), rest assured it’s designed to give you the same long-term financial security you deserve. With a focus on your personal growth, work-life balance, and future, TrueCare is the place where you can thrive—both in your career and your financial well-being for years to come. 

If you’re ready to build a meaningful career and secure your financial future, we’d love for you to join our team! Visit our Careers page to explore opportunities and apply today!