Meet with a retirement planning consultant and learn how your the Defined Contribution Retirement Plan can give you the confidence you need for your financial future. Click here to schedule a one-on-one session.
Loyola University Defined Contribution Retirement Plan
With the DCRP, you are able to save and invest for retirement, including a combination of contributions you make and those Loyola contributes on your behalf.
Your contributions are deducted from your paycheck and contributed to your DCRP account. Consider saving at least 5% of your pay (and more if you can). To check and update your savings rate, sign in, go to the Manage tab, and select "Contributions."
Contributions from Loyola
If you are a .53 FTE or higher, after 60 days of employment Loyola will make a contribution to your account equal to 5% of your eligible compensation. Subject to the same requirements, Loyola will also match your contributions, up to a maximum of 5% of your eligible compensation.
Review your Transamerica account
You can use this website to review your Transamerica account, monitor your progress toward retirement, update your savings rate, and choose investment options. Click here to get started or the "Manage Your Transamerica Account" link above.
You choose how to invest
You will decide how the contributions to your DCRP account will be invested. Sign in to choose investments if you'd like to customize your portfolio. You can customize your investing strategy with mutual funds offered through Transamerica, and select TIAA-CREF annuities are also available.
If you'd like to invest in the available TIAA-CREF annuities, sign in to your Transamerica account first to direct a portion of your contributions to TIAA-CREF. (After you sign in, go to the Manage tab and select "Contributions.") Then sign in to your TIAA-CREF account at tiaa-cref.org to choose your TIAA-CREF annuities.
Want to explore additional investments beyond the DCRP fund lineup? Consider a brokerage account. Click here for more information and to learn how to sign up.
Transferring balances: The choice is yours
To help you maintain the investment strategy for your existing assets at Fidelity, TIAA-CREF, or VALIC, Loyola did not transfer that portion of your account to Transamerica. You have the option to transfer those assets to Transamerica if you want to consolidate your savings. For more information, click here to schedule a one-on-one appointment with a Transamerica representative.
Transamerica Retirement Solutions is not affiliated with Fidelity, TIAA-CREF, or VALIC.
Review the fees and expenses you pay, including any charges associated with transferring your account, to see if consolidating your accounts could help reduce your costs. Be sure to consider whether such a transfer changes any features or benefits that may be important to you.