It is never too early or too late to start planning and saving for your future. DePaul University offers a 403(b) retirement plan to help you save for retirement. Login to Fidelity NetBenefits.
The 403(b) retirement plan provides eligible faculty and staff with the opportunity to accumulate tax-deferred retirement funds. In accordance with plan provisions, eligible employees may make tax-deferred contributions and receive tax-deferred university contributions for the purpose of investing these funds in a variety of investment vehicles offered by the plan’s investment fund sponsors. Earnings on the contributions are also tax deferred.
CARES Act Provisions for 403(b) Plans
In response to the current national emergency, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed with provisions related to 403(b) plan hardships, withdrawals, and loans.
For employees who participate in DePaul’s 403(b) Retirement Plan, our fund sponsors (Fidelity Investments and TIAA) have launched modified procedures and enhanced resources such as:
- Improved procedures for handling notaries and other paperwork electronically (contact Fidelity or TIAA for specific questions).
- Materials, webinars, resources available on their respective sites for dealing with market volatility and changes due to CARES Act.
- Relief on Minimum Required Distributions for those who are already receiving payments (can defer 2020 distribution) under CARES Act.
- Postponed minimum age for Required Minimum Distributions beginning in 2020 – change from age 70.5 to 72 under SECURE Act.
Fidelity Resources:
TIAA Resources:
Retirement Planning Webinars
Fidelity offers a range of resources for DePaul employees to manage their retirement goals, including the following on-demand webinars:
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Navigating Market Volatility: This webinar answers questions such as: Should I change how I’m invested in something less risky? Should I move to cash? Why should I put more into my retirement savings plan? Click here to watch the webinar.
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Manage Unexpected Events and Expenses: This webinar answers questions such as: How to assess spending and take control of my budget? What to consider to withdraw money from a workplace savings plan? How can Fidelity support me? Click here to watch the webinar.
Plan participants can also schedule
one-on-one individual sessions.
Learn about plan changes regarding fee allocations and investment options.
Access your retirement account through the Fidelity NetBenefits portal.
ALEX is an easy-to-use online tool to help find the best benefit plans.
Automatic Increase Program
The DePaul University 403(b) Retirement Plan has implemented an
Automatic Increase Program, designed to promote a higher savings rate among our participants, and in line with best practices in the retirement plan industry. Click here for
FAQs about the Automatic Increase Program.
Plan Notices and Fee Disclosures
Investments
Please note, effective October 1, 2017, any new hires or participants without a current TIAA account in the 403(b) Plan, will be able to select investments on the Fidelity platform only. See the
notice about plan changes.
Fidelity Investment Information
Visit
http://mv.participantdisclosure.com(Password: 62919) for information and resources to help you make informed investment decisions, including more detailed information on the Plan’s investment options.
The 403(b) retirement plan provides eligible faculty and staff with the opportunity to accumulate tax-deferred retirement funds. In accordance with plan provisions, eligible employees may make tax-deferred contributions and receive tax-deferred university contributions for the purpose of investing these funds in a variety of investment vehicles offered by the plan’s investment fund sponsors. Earnings on the contributions are also tax deferred.