Effective July 1, 2025, employees can make contributions on a pre-tax basis, a Roth (after-tax) basis, or a combination of the two. Please see the table below for additional details on the taxability of the different types of 403(b) contributions.
Are contributions taxed when made?
|
No
|
Yes
|
No
|
Are contributions taxed when paid?
|
Yes
|
No
|
Yes
|
Are earnings taxed when paid?
|
Yes
|
No
|
Yes
|
DePaul Match Contribution
Faculty and staff who are eligible to make salary deferrals are also eligible to receive the university matching contribution of 10% upon meeting the following criteria:
- Completion of one year of cumulative full-time 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.
Union employees may contribute to the Plan but are not eligible for university matching contributions.
For full-time faculty and staff with previous experience at another institution of higher education, the one year of service may be waived. See
How to Enroll & Make Changes for further information on prior service credit.
Vesting
University match contributions and employee deferrals are fully and immediately vested. That is, 100% of university contributions, employee deferrals and related earnings are fully owned by the participant, and none are forfeited should the employee terminate employment.
Enroll or Change Your Elections
If you are a new employee, review the
Enrollment Guide for details on making your 403(b) Plan elections. If you are a current employee who has not yet enrolled, or if you have already enrolled in the 403(b) and want to change your elections, review
How to Enroll & Make Changes for instructions.
Investments
You may direct your employee contributions, university matching contributions and related earnings to any fund offered by Fidelity Investments. (TIAA investment options are only available to participants who had TIAA accounts as of 10/1/2017.) If you do not select an investment, your contributions will be invested in the appropriate Vanguard Target Retirement Fund, based on your date of birth.
Beneficiaries
It is important to review your beneficiaries to ensure your desired elections are in place. Beneficiary designations are completed separately for Fidelity and TIAA account balances by contacting the respective retirement provider directly. If you are married and do not make a valid designation, the default beneficiary is your spouse. If you are not married, the default beneficiary is your estate. Additional details regarding changing your beneficiaries can be found on
How to Enroll & Make Changes.
Loans and Withdrawals
As an active employee, you may be able to borrow or withdraw from your 403(b) account accumulations.
New loans are only available from Fidelity. Balances eligible for loans include employee contributions and related earnings. Loans are regulated by the IRS rules and guidelines. Contact Fidelity to obtain details on available amounts or to request a loan or withdrawal.
For in-service withdrawals and distributions, you must meet the following requirements: age 59 1/2, phased retirement, financial hardship, rollover contributions, or contributions prior to 1989. Please see the
Summary Plan Description for more details.
Terminated, Phased Retirement, and Permanently and Totally Disabled employees may request a full distribution of available accumulations by contacting Fidelity or TIAA directly.