Lehigh Valley Health Network Retirement Plan

Lehigh Valley Health Network Retirement Plan

The Lehigh Valley Health Network Retirement Plan operates as the defined contribution retirement vehicle for employees of Lehigh Valley Health Network (LVHN). LVHN itself merged with Philadelphia-based Jefferson Health on August 1, 2024, creating an integrated health system with a combined balance sheet reported at $14 billion. The retirement plan's oversight falls under the LVHN finance function, where Senior Vice President and Treasurer John Brodsky holds responsibility for treasury operations including retirement assets. Controller Dave Jones and CEO Brian A. Nester form part of the broader leadership context within which the plan's governance sits. The plan provides 401(k) and 403(b) savings options to LVHN employees, with employer matching contributions forming part of the total compensation package. Recordkeeping and plan administration are handled through Corebridge Financial, as evidenced by the plan's dedicated participant portal hosted on the Corebridge domain. While the specific asset allocation is not publicly disclosed, the plan is characterized as pursuing a diversified strategy. The retirement plan's assets are distinct from LVHN's operating and investment portfolios, which include commercial real estate holdings such as the Westgate Professional Center and a captive insurance entity, the Lehigh Valley Health Network Risk Retention Group. Aside from the retirement plan's direct holdings, LVHN maintains a broader institutional footprint in the Lehigh Valley. The network is an active member of the Lehigh Valley Business Coalition on Healthcare and the Greater Lehigh Valley Chamber of Commerce, reflecting its role as a regional economic anchor. The merger with Jefferson Health in mid-2024 substantially altered the organizational scale, though the integration's impact on retirement plan governance or investment policy has not been publicly detailed. The plan's named fiduciary or investment committee membership beyond the treasurer's oversight remains undisclosed. Structurally, the plan is a single-sponsor defined contribution plan, not a pension fund in the traditional defined-benefit sense despite its Altss classification as a pension fund. Its governance is embedded within the health system's corporate treasury, rather than a standalone investment office — a common architecture for hospital-affiliated retirement plans of this scale. The post-merger entity now spans multiple states and employee populations, which may over time prompt consolidation or harmonization of retirement plan structures across the combined Jefferson-LVHN system.