Defined Contribution Retirement Plan

PLAN INFORMATION
Loyola University of Chicago offers this plan as part of workplace benefits. Now is a great time to understand what is offered - think about taking advantage of any opportunities to save and invest for the future. 
Learn what plans allow eligible employees to do.
Loyola's DCRP provides a contribution equal to 5% of salary into your plan account. Additionally, the employer will match employee contributions, up to a maximum of 5%. For example, if you contribute 5% of your salary, Loyola will also contribute an additional 5%. Starting the pay period in which you attain 60 days of employment in an eligible position, you will be automatically enrolled in the plan and receive matching contributions. This means that amounts will be taken from your pay and contributed to the plan. These automatic contributions will be 1% of your eligible pay each pay period, and will increase by 1% each year on July 1, until they reach a maximum of 5% of salary. However, you can increase or decrease your contribution amount, or even choose not to contribute to the plan. Loyola will match employee contributions, up to a maximum of 5%. For example, if you contribute 5% of your salary, your employer will also contribute an additional 5%.
Benefits-eligible faculty and staff are eligible for participation in the Loyola University Chicago 403(b) Defined Contribution Retirement Plan (DCRP). Starting the pay period in which you attain 60 days of employment in an eligible position, you will be automatically enrolled in the plan.
Contributions to this account will be 100% vested immediately.
EXPLORE OPTIONS
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