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% for each percentage contributed. Employees may make additional contributions through salary reduction.
If a new employee has 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.
Various investment options are available through Lincoln Financial Group. To find out more details, please download and review the following plan document: Defined Contribution Retirement Plan—Summary Plan Description.