Mount Sinai’s physician-in-training program offers residents and fellows an annual stipend, housing allowance, insurance, health care benefits, retirement savings savings plans, education and training benefits and many more generous advantages. Our compensation policy has been created with this goal in mind to ensure they have all of the resources they require to do their work at its highest levels.
At Columbia University Medical Center, our patient population is one of the most diverse medical groups in the nation and physicians enjoy unparalleled collaboration across specialization areas thanks to Columbia’s academic affiliation, providing unparalleled collaboration opportunities among colleagues. In short, Columbia offers us an ideal setting in which to provide lifesaving healthcare while training the next generation of healthcare providers and advancing medicine.
Our distinguished programs attract an elite team of doctors dedicated to making an impactful difference for both patients and communities. You’ll work alongside forward-thinking physicians from around the globe as you collaborate on complex cases, share research findings and advance their careers.
Your annual housing stipend can be invested voluntarily in the Mount Sinai Health System 403(b) Retirement Plan on an opt-in basis. This Plan supports both participant-directed accounts as well as default investment accounts.
As amounts in the Plan are not guaranteed at any given time and investments may lose value, you should carefully consider all available investment options before contributing to it. Read through its Summary Plan Description for additional guidance, or consult your tax advisor if any doubts arise about your plan choices.
The plaintiff estimates that her class consists of 47-51 beneficiaries of the Sinai pension plan who have had or will have their benefits reduced due to estimated Social Security benefit deduction (Paper No. 24). Defendants contend that Ms. Dameron’s claim is contrary to the interests of many in her proposed class as it would require Sinai to expend additional funds on benefits that already accrue to its employees. The defendants further assert that, should Ms. Dameron receive the relief she is seeking, Sinai Hospital Pension Plan would need to cover additional benefits for its retirees which would reduce available funds for pay increases and general improvements in current employee compensation packages.
Plaintiff alleges that Mount Sinai breached its fiduciary duties by failing to select low-cost mutual fund options for the Plan and that its actions amount to mismanagement and self-dealing on its part. She contends that the defendants used only a Voya stable value fund, which charges higher fees than competing funds. She further alleges that the defendants failed to adequately research the market to assess whether comparable funds could be found at lower costs, and did not inform employees about using proprietary funds in their plan. She further asserted that the plan violates ERISA because it fails to offer benefits required by Congress and ERISA, including using proprietary funds which have not been disclosed as having an effect on retiree’s total returns of retirement accounts.