South Nassau Communities Hospital Retirement Plan

South Nassau Communities Hospital Retirement Plan

The South Nassau Communities Hospital Employee Defined Contribution Retirement Plan provides tax-advantaged retirement savings for employees of Mount Sinai South Nassau in Oceanside, New York. The plan covers over 5,100 participants and operates as part of the Mount Sinai Health System's broader benefits architecture. It includes both an employer basic contribution and a matching contribution tied to voluntary employee deferrals. As a defined contribution retirement plan, the vehicle's investment menu is constructed through its recordkeeper, Transamerica, providing participants with a curated lineup of mutual funds, collective investment trusts, and target-date strategies. While specific allocations are not publicly reported, standard plan design for similarly situated health system DC plans typically spans core equity, fixed income, and stable value options. The plan's fiduciaries operate under ERISA governance, with investment selection subject to committee review. Scale and oversight derive from the plan's integration into the Mount Sinai Health System, which became the sole corporate member of South Nassau Communities Hospital following a 2021 affiliation. The plan covers a workforce of 5,173 employees, though the precise number of investment options and total plan assets remain undisclosed. Administration is handled by Transamerica, a major US retirement plan recordkeeper. Structurally, this plan differs from an endowment or foundation in that it aggregates individual participant accounts rather than managing a single commingled pool. The investment committee's fiduciary duty runs to participants selecting from a menu, not to a single institutional portfolio — shaping governance toward prudent process over absolute return maximization.