Retirement 403(b) Plan

Faculty and Staff are encouraged to log into the Transamerica Portal to make changes to their Transamerica accounts.  Via the portal, you can:

• Adjust the percentage you are contributing
• Enroll or Disenroll in the Auto Increase option
• Change the percentage going to your TIAA Cref account (this can only be done via the portal)
• Select your Funding Options

When Do Contribution Changes Take Effect?

• After submitting a change to the Transamerica portal, you will see a confirmation page with the effective date.
• Changes may take up to one to two full pay cycles to take effect. Confirmation of change dates will not align with biweekly or monthly payroll deadlines.
• If you’re unsure whether your change will apply to your next biweekly or monthly paycheck, refer to the Payroll Calendar linked below.

Contact the Retirement Center administered by Transamerica at 773.508.2770 or visit Transamerica.

Automatic Enrollment

• New or newly eligible employees are automatically enrolled after 60 days by default
• Default contribution: 1%
• Default investment: Vanguard Target Date Fund
• Employees are required to log into the Transamerica Portal to OPT OUT of the automatic Save program

Automatic Increase Program

• Employees contributing between 1%–4% will automatically increase by 1% annually until reaching 5%
• Increases occur each January
• You may opt out by contacting Transamerica by December 1

• 18 Transamerica funds
• 3 remaining TIAA-CREF funds (and appear under new account names):
• CREF Total Global Stock Account (Formerly Stock Account)
• CREF Responsible Balanced Account (Formerly Social Choice)
• CREF S&P 500 Index Account (Formerly Equity Index)
• Default investment: Vanguard Target Date Funds

You can change investment elections at any time by logging into Transamerica or calling the Retirement Center.

TIAA Annuities (Optional)

To invest a portion of your contributions with TIAA:

1. Log in to Transamerica → Account Overview → Contributions
2. Allocate a percentage to TIAA
3. Log in to your TIAA account to manage annuities

Fee Disclosures

Each year, participants in Loyola’s Defined Contribution Retirement Plan (DCRP) receive a fee disclosure and schedule of fees and expenses for the retirement plan’s investment options. This includes current and legacy investments held with Fidelity, TIAA, and Corebridge Financial (formerly AIG/VALIC).

To receive these communications by email instead of U.S. mail, please update your email address on the Transamerica website. After logging in, select e-Documents from the home menu, then choose Manage Email Alerts to subscribe or unsubscribe.

Plan Documents

• Summary Annual Reports (SARS)
• Summary Plan Description (SPD)

Employees should regularly review:

• Beneficiary designations
• Contact information
• E-document preferences

Log in to Transamerica → Profile / E-document

Managed Advice 

Participants may enroll in Managed Advice through Transamerica and Morningstar.

• Personalized asset allocation guidance
• Fee: up to 0.45% annually
• Cancel anytime

Loyola’s partnership with Transamerica Retirement Solutions (TRS) provides eligible employees with an opportunity to enroll in, and make elective contributions to the Defined Retirement Contribution Plan (DCRP). In addition, plan participants can schedule an one-on-one meeting with a TRS representative to discuss financial planning strategies.

• Please visit the Transamerica Scheduler website in order to schedule an appointment. If you cannot attend a scheduled meeting, please cancel your appointment by either contacting the Retirement Call Center at 773.508.2770 or by visiting the Transamerica Scheduler website. TRS will create a waitlist for canceled appointments in order to provide an opportunity for fellow plan participants to meet with a TRS representative.
• Chris Clinton RPC Contact

• Access Transamerica Portal
• Change Contributions or Investments: Log in → Account Overview → Contributions → View/Update Contributions
• Pay & Holiday Calendar (2025–2026): Payroll Calendar (PDF)
• Schedule a Meeting with Transamerica

Transamerica Retirement Center

• 773.508.2770 | 800.755.5801
• Transamerica Portal

Other Carriers (legacy accounts)

• Fidelity: 800.642.7131
• TIAA: 800.842.2252
• Corebridge: 800.448.2542

The deemed Roth catch-up rule allows for a participant whose FICA wages in the prior calendar year from the employer sponsoring the Plan were more than $150,000, to continue making age-based catch‑up contributions and be made as Roth contributions even if prior contributions were made on a pre-tax basis. If your intent is not to make Roth age-based catch-up contributions, you may elect to cease your contributions once you reach the standard IRS contribution limit.

If you were hired before September 1, 2018, your 403(b) base and matching contributions are always fully vested. If you were hired on or after September 1, 2018, you are always fully vested in your contributions. University contributions are 50% vested between the first and second anniversary of employment with Loyola, and become 100% vested after the second anniversary of employment. 

Your contributions and any earnings will remain invested in your selected funds with your carrier(s) until you elect to begin distributions. To request a distribution or for more information, please contact the carrier or investment fund manager(s) directly via the contact information below. 

Before taking distributions, consider consulting a financial or tax professional.

*Loyola University Employees' Retirement Plan (LUERP): Frozen 401(a) defined benefit plan: 312.915.6175 or online. For staff employees hired on or before March 1, 2003, you may have been a participant with frozen defined retirement benefits under the Loyola University Employees’ Retirement Plan (LUERP).