DePaul University announces the
following new and exciting changes to DePaul's 403(b) retirement plan!
- Increased match - Starting Jan. 1, 2016, DePaul's 403(b) matching contribution will increase to 8.5 percent.
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)
- Link to your current Fidelity or TIAA account, and view
your retirement plan balances
- Use interactive tools and calculators to help you plan for
- More flexibility in making election change requests - Prior
to 2016, savings rate changes could only be made once a month. Going forward, 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 Jan. 15, 2016 (by 5 pm CST), and it will be effective on
your Jan. 22, 2016 paycheck.
- Automatic enrollment - Any faculty or staff employee hired
on or after Jan. 1, 2016 will be automatically enrolled in the 403(b) Plan
at a 5 percent savings rate, unless they opt out or make a different savings rate
election within 60 days of hire.
On Jan. 4, 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 DePaul 403(b) 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, 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 directly to make investment fund choices and beneficiary
Find out more about changing your 403(b) plan elections.