Your CRP Benefits

The Contributory Retirement Plan (“CRP”) was established by The University of Chicago (the “University”) to provide eligible employees with a portion of the income they will need during retirement. Participation in CRP is a condition of employment for all eligible employees.

CRP is a Section 403(b) plan that provides benefits through retirement savings accounts. Under CRP, you establish an account into which you and the University contribute a percentage of your pay each pay period. These contributions and their investment earnings make up your retirement savings account from which you can draw retirement income. All amounts held in your retirement savings account are tax-deferred. This means you pay no income taxes on your CRP benefits until you receive them.

If you have questions about your benefits, call the Benefits Office at (773) 702-9634 or send an e-mail to benefits@uchicago.edu.

While this Summary Plan Description summarizes the major provisions of this plan, it does not provide you with every plan detail. The plan documents, which govern this plan, provide full details. If there are any discrepancies between this Summary Plan Description and the legal plan documents, the legal plan documents control.