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403(b) Plan Highlights for Priests

Your financial health and well-being are important to the Archdiocese of Chicago. That’s why we offer you the Defined Contribution 403(b) Retirement Plan (the “Plan”) to help you pursue a rewarding financial future.

This plan highlights provides a general overview of the Plan. If you have questions, or would like to take advantage of personalized retirement planning guidance, be sure to contact our retirement counselor, Julia Calderon. You can call to schedule an appointment at 312-244-0941312-244-0941, or send an email to

Enrollment and Eligibility

You are immediately eligible to enroll. If you do not make an affirmative election, you will be automatically enrolled at a $20 deferral amount per pay period and your contributions will be invested in a Vanguard Institutional Target Date Fund Footnote. Vanguard Institutional Target Date Funds are registered mutual funds. End footnote. You may change your contribution rate or investment elections at any time.

Your Contributions

  • You may make pre-tax or Roth contributions. To help you determine if Roth contributions are appropriate for you, use the Roth contribution calculator.
  • In 2020, federal tax law allows you to make a combined contribution of pre-tax and Roth contributions to your retirement plan up to $19,500.
  • If you will be at least 50 years old in 2020, you are also eligible to make an additional pre-tax catch-up contribution of up to $6,500 per year.
  • You may change your contribution amount any time.

Employer's Contributions

The Archdiocese will match 50% of your contributions  up to an annual limit of $2,600.


Contribution Accelerator

The Plan’s contribution accelerator feature offers you an easy way to increase your contribution amount over time. Here’s how it works:

  • You are automatically enrolled in this feature unless you opt out.
  • Your contribution amount will increase by $15 per payroll period for four years and $20 or lesser amount in the fifth year to result in maximum $100 deferral per payroll period.
  • You can opt out of this feature at any time.



"Vesting" refers to your ownership of the money in your account. You are immediately vested in your own contributions as well as the employer match.


Access Your Money

You may be able to access money in your retirement program account through a loan, in-service withdrawal or hardship withdrawal.


Investment Options

View investment options


Auto Rebalancing

Your retirement plan offers auto rebalancing, an optional easy-to-use rebalancing feature. It ensures that the investment allocations you choose stay consistent until you, not market conditions or money managers, make a change. Rebalancing dates will appear on your retirement statement.


Plan Features—Ways to help you save

Targeted InvestingTarget-Date Funds—Investments that change as you do

An investment option that provides a diversified portfolio and then automatically re-allocates as you get closer to your estimated retirement date.

View your Target-Date Fund options

The target-date is the approximate date when investors plan to retire and may begin withdrawing their money. The asset allocation of the target-date funds will become more conservative as the target-date approaches by lessening the equity exposure and increasing the exposure in fixed income type investments. The principal value of an investment in a target-date fund is not guaranteed at any time, including the target-date. There is no guarantee that the fund will provide adequate retirement income.

A target-date fund should not be selected based solely on age or retirement date. Participants should carefully consider the investment objectives, risks, charges and expenses of any Fund before investing. Funds are not guaranteed investments and the stated asset allocation may be subject to change. It is possible to lose money by investing in securities, including losses near and following retirement.

Increase ContributionsContribution Accelerator—Simple, consistent, automatic saving

Help build your account balance faster by increasing your contributions each year. Use this feature and see how much automatic increases can help your savings grow.

Use the Contribution Accelerator

Types of ContributionsYou have two ways to save

In addition to traditional pre-tax contributions, you can make Roth after-tax contributions to your account.

Learn more about Roth after-tax contributions

Archdiocese of Chicago 403(b) Retirement Plans for Priests and Laity Plan Resources & Quick Actions


Get all plan communications, forms and documents here.

Go to documents


Get contact info for your plan counselors and administrators.

View contacts


Register to review your account details.

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View account details, customized planning tools and more.

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