The Defined Contribution Retirement Program (DCRP) provides eligible members with a tax-sheltered, defined contribution retirement benefit, along with life insurance and disability coverage.
The Defined Contribution Retirement Program is a defined benefit plan where retirement benefit is based on a formula.
Defined Contribution Retirement Program Eligibility
You may be eligible to enroll in the Defined Contribution Retirement Program if you meet the following criteria:
- Employed with the University for 1 year or more
- Annual salary exceeds the maximum compensation limit of $55, 000
Defined Contribution Retirement Program Contributions
- Employee Contribution:
- 5.5% of base salary made on a pretax basis
- Employer Contribution:
- 3% employer match
Defined Contribution Retirement Program Vesting
- Vesting:
- 1 Year or immediate, if applicable
How to Enroll in the Defined Contribution Retirement Program
Eligible employees will be contacted by a member of the Benefits team.
For more information, view the Defined Contribution Retirement Program Fact Sheet (PDF).