Participation can start immediately upon employment for employees who are at least 21 years of age. After one year of service when 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.
If a new employee had been employed for the eligibility period at an institution of higher learning immediately prior to employment at Biola, that service time will be bridged and the employee will be eligible for the Biola contribution.
To find out more details, please download and review the following plan document: