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403(b) Retirement Plan

Exciting Changes Coming in 2016

Effective in January 2016, DePaul University announces the following new and exciting changes to DePaul's 403(b) Retirement Plan! 

  • Increased Match - Starting January 1, 2016, DePaul's 403(b) Matching Contribution will increase to 8.5%.  If you are match eligible (see criteria below), you will automatically receive the increased matching contribution.

  • New 403(b) Retirement Savings Website - DePaul has launched an enhanced 403(b) Savings Plan website, which allows faculty and staff to:
    • Enroll or change your savings rate
    • Elect your Retirement Provider (Fidelity and/or TIAA-CREF)
    • Link to your current Fidelity or TIAA-CREF account, and view your Plan balances
    • Use interactive tools and calculators to help you plan for your retirement

On January 4th, a comprehensive User Guide was mailed to all faculty and staff.  For full details on the election process and the new website, please see the User Guide.

You are not required to re-enroll if you are already contributing.  If you wish to change your savings rate or your allocation to Fidelity/TIAA-CREF, you will need to register through the new website in order to access the election page.  If you are already enrolled in the Plan, you can access the election page by logging into Campus Connect and following this path: Self-Service > Benefits > 403(b) Contributions.  Employees will continue to contact Fidelity and TIAA-CREF directly to make investment fund choices and beneficiary designations. 

  • More Flexibility In Making Election Change Requests: Prior to 2016, savings rate changes could only be made once a month.  Going forward in 2016, elections may be made bi-weekly, up until the Friday prior to a paycheck.  For example, you may make your contribution election as late as January 15, 2016 (by 5p.m. CT), and it will be effective on your January 22, 2016 paycheck.
  • Automatic Enrollment - Any faculty or staff employee hired on or after January 1, 2016 will be automatically enrolled in the 403(b) Plan at a 5% savings rate, unless you opt out or make a different savings rate election within 60 days of your hire.

Click here to enroll or find more information about changing your 403(b) Plan elections.

403(b) Retirement Plan Provisions

Employee Contributions

Employees may defer part of their salary into the 403(b) Plan through pretax payroll deductions, up to the limits outlined below:

Annual Contribution Limits for 2016:

  • General Employee Contribution $18,000
  • 15-Year Service Rule Catch-up Contribution $3,000
  • Age 50 Catch-up Contribution $6,000

These earnings are tax-deferred, which means they are not subject to state or federal income taxes at the time of the payroll deduction.  Earnings on the money contributed are also tax-deferred.  Accumulations in the plan, including earnings on contributions are tax-deferred until withdrawn from the plan.

403(b) Retirement Plan Information

DePaul Matching Contributions
Faculty and Staff who are eligible to make salary deferrals are also eligible to receive an 8.5% University matching contribution upon meeting the following criteria:

  • Completion of one year of service (including 1,000 hours of work or the equivalent course load),
  • Attainment of age 21, and
  • Salary Deferral of at least 5% to the Plan.

For full-time faculty and staff with previous experience at another institution of higher education, the one year of service may be able to be waived.  Union Employees may contribute to the Plan, but are not eligible for University matching contributions.

University matching contributions and employee deferrals are fully and immediately vested.  That is, 100% of the University contributions and related earnings are fully owned by the participant and none are forfeited should the employee terminate employment.

Investment of Contributions
A plan participant may direct his or her own contributions, University matching contributions, and related earnings to any fund offered by the two investment companies chosen by the University – Fidelity Investments and TIAA-CREF.

Individual Counseling Sessions:
Fidelity and TIAA-CREF provide DePaul University faculty and staff with individual consultation sessions to assist you with retirement planning on a confidential basis.  Below are the schedules of sessions available:

Fidelity’s Individual Counseling Session Schedule
TIAA-CREF’s Individual Counseling Session Schedule

Contact Information
: or (800) 343-0860
Representatives are available by phone Mon-Fri 7am-11pm CT.

TIAA-CREF: or (800) 842-2776
Representatives are available by phone Mon-Fri 7am-9pm, Sat 8am-5pm CT.

Archived 403(b) Plan Info 

403(b) Retirement Plan Updates

Fund Changes Effective October 2015
Fund Changes Effective April 2015

Fund Changes Effective December 2014

Fund Changes Effective August 2014

Fund Changes Effective January 2014
Fund Changes Effective April 2013
Fund Changes Effective June 2012

In February 2010, DePaul introduced new core investment options for the DePaul University 403(b) Retirement Plan. Please click here to read the insert included in the January 5, 2010 Newsline. An Investment Options Kit was mailed to faculty and staff members’ homes in late January 2010.

For Details on the Investment Options Kit please see the following Links:

Cover Letter from DePaul - Overview of New Investment Options - Investor Guide - Fidelity Mapping Details

Participant Fee Disclosures
On an annual basis the office of Human Resources (HR) provides all employees with the required notices regarding fees and expenses in the DePaul University 403(b) Retirement Plan.  These notices are intended to enable participants to better understand their current investment costs and provide an opportunity to review the merits of each of our plan vendors, Fidelity Investments and TIAA-CREF.  Please click on the links below to review the documents.

November 2015 announcement email from HR
Fidelity notice as of 9/30/2015

TIAA-CREF notice as of 9/30/2015

November 2014 announcement email from HR
Fidelity notice as of 9/30/2014
TIAA-CREF notice as of 9/30/2014

November 2013 announcement email from HR
Fidelity Notice as of 9/30/2013
TIAA-CREF Notice as of 9/30/2013

August 2012 announcement email from HR
Fidelity Notice as of 12/31/2011
as of 12/31/2011