145 employees reported this benefit
University of Chicago employees have access to several retirement plans.
This information about the Retirement Plan benefit at University of Chicago is the result of research by Glassdoor editorial staff, and was not provided directly by a representative of University of Chicago. The description here may not reflect the current University of Chicago Retirement Plan benefit.
after 1 year employee can apply for that.
Solid plan with matching after 1 year.
Pension plan was just removed as an option in a cost-cutting move. Employee retirement plan persists, but will be unable to meet needed retirement income levels, even when maxed out.
I do not have any complaints about retirement plan at the University of Chicago. I think it is one of the best among academic organizations at least in Chicago
Was better with a pension but still very good.
i dont have much experience with this, but there is tiaacref that manages the retirement funds
Only 401K- they stopped paying into their pension
University pays into the fund by matching your contribution. Decent matching percentage.
excellent contribution matching system in 403(b)
For academic employees, the University deducts 5% of salary for retirement savings (mandatory), and adds 8% on top of that (employer match). However, since the employee 5% contribution is mandatory, it does not deduct from the $18,000 (in 2016) limit on 401k and 403b contributions, so you can add that much more to the savings. For 403b options, there is a pension/annuity/something TIAA-CREF option, but the investment option is Vanguard mutual funds, which are the best company with lowest expense ratios, which pioneered index funds - truly the best choice in the industry.