When participating employees contribute 1-5% of their base salary, the University will contribute an amount of 1-6% for each percentage contributed, up to a maximum of 8% employer contribution. Employees may make additional contributions through salary reduction.
Participation may begin on the first day of the month after completing one year of service and attaining the age of 21. If a new employee had been employed for the eligibility period at an institution of higher learning immediately prior to employment at Biola, he or she may begin to participate at Biola without the one year waiting period or age limit of 21 years.
To find out more details, please download and review the following plan document: