QUESTION
Do Health and Hospitals (H+H) or the city contribute to the pension plan for residents and fellows?
0:57:55
·
47 sec
Health and Hospitals (H+H) or the city do contribute to the pension plan for residents and fellows at the specified rates.
- John Ulberg confirms contributions are made to the pension plan for residents and fellows.
- The pension plan is seen as attractive, encouraging residents to remain permanently.
- The plan aims to retain talented residents within the organization.
Lynn Schulman
0:57:55
According to OLR and OMB's numbers provided to the union, They're budgeting approximately $292,000,000 over 5 years as the pension cost for the resident physician BOGEN unit.
0:58:06
Residents are only voluntarily enrolled in the pension plan, and it takes 5 years to vest in the city pension.
0:58:12
While most residency programs are 3 to 4 years long, does H and H or the city pay into the city pension plan for residents and fellows at the rates, OMB, OLR, a budgeting for.
John Ulberg
0:58:24
Yes.
0:58:24
I I would say that that we do.
0:58:26
And and certainly, you know, many of those residents, I think it's it's it's attractive to have a pension, and we would like many of those residents to stay on with us with a permanent job.
0:58:36
So the answer to that is yes.
Lynn Schulman
0:58:40
Okay.
0:58:40
And last year, Doctor.