403b Age and University Matching Contributions

October 2008 issue

In order for DePaul to contribute to an employee's 403(b) retirement plan, one of the criteria is that the employee must be 26 years of age. (http://hr.depaul.edu/Benefits/403/index.html) How is DePaul able to discriminate, solely on the basis of age, against its full time employees when it comes to matching retirement fund contributions? Any clarification on this issue would be greatly appreciated. Thank you!

Response

Source: Staff Council

Response: On October 9, 2008 Human Resources sent out the benefits enrollment email that also offered the news that the 403b age requirement has been lowered to 21. The email stated: 403b Plan Participants between the ages of 21 and 26, who meet the service requirement, are eligible for the employer match beginning January 1, 2009.

The 2009 Enrollment Guide and Benefits Overview can be accessed through the Benefits Enrollment page of the HR website, http://hr.depaul.edu, and describes actions you need to take regarding your benefit elections for next year.