DePaul University Human Resources > Benefits > 403(b) Retirement Plan > News & Events

Exciting Changes in 2016

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 your retirement
  • 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 designations.

Find out more about changing your 403(b) plan elections.