St. Louis-based BJC HealthCare said it is eliminating its pension plan as part of a move to implement a unified benefits package for all employees following its 2024 merger.
As of July 1, no new participants have been able to enroll in the plan, a BJC spokesperson said in a statement shared with Becker’s Aug. 25. Current participants may continue to contribute and accrue benefits until 2030, when the plan will be frozen.
The change is tied to BJC’s merger with Kansas City, Mo.-based St. Luke’s Health System, with the goal of moving to a single benefits package for all 47,000 employees by 2026.
“This thorough process included a comprehensive market analysis to ensure our benefits package remains highly competitive with peer organizations within the healthcare industry and beyond,” the spokesperson said. “BJC is proud to be recognized as one of Forbes’ Best Large Employers and Newsweek’s America’s Greatest Workplaces, and we understand the important role benefits play in earning that recognition.”
