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. Login to your 403(b) account.
Upcoming Change for DePaul's 403(b) Retirement Plan
What Is Changing?
Effective on or around July 1, 2021, Fidelity Investments® will become the single service provider for receiving contributions and providing plan services for the DePaul University 403(b) Retirement Plan. This means that all future contributions to the Plan will be made to accounts at Fidelity, including employee pre-tax deferrals as well as the University matching contributions.
Additionally, all eligible custodial mutual funds will move from TIAA to Fidelity. All annuity holdings participants currently have with TIAA will be retained by TIAA.
What Do I Need To Do?
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Fidelity participants - No action is required during this transition. As a current Fidelity participant, your balance in the Plan will remain at Fidelity and you will continue to manage your account as you do now. However, this is a good time to review your investment elections and retirement goals to ensure you are on track. Some investment options will be changing in order to provide lower expenses to all participants. An overview of any fund changes will be mailed to you in April outlining any changes that may take place in your account.
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TIAA participants - No action is required for your mutual fund holdings to be transferred to Fidelity. All participants who do not already have an account with Fidelity will need to complete a beneficiary designation and an investment election. If you have no investment election on file at Fidelity, your balance will be invested in the appropriate Target Retirement Fund based on your year of birth until you make an affirmative election. You will receive a detailed fund change notice at your mailing address of record in mid-May 2021. This document will contain more detailed information about which holdings at TIAA will transfer to Fidelity and which will remain with TIAA.
How Can I Learn More?
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Visit
www.myfidelitysite.com/depaul for detailed information about the change and resources to answer many of the questions you may have.
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Attend a virtual meeting in April or May hosted by DePaul to learn more about the process and find answers to questions about how the transition will occur. Click here to register.
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Schedule a
complimentary one-on-one meeting with representatives from Fidelity and TIAA to discuss how the change may or may not impact your retirement savings strategy.
We encourage all participants to learn more about this change and take any steps necessary to support their individual retirement goals.
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.