5.7.6 Retirement Benefits​​

​Retirement benefits for employees are provided by the archdiocesan Lay Employees Pension Plan, tax-deferred 403(b) retirement plans, and Social S​ecurity.

5.7.6.1 Lay Employees Pension Plan

Employees who regularly and customarily work at least 20 hours a week are eligible for participation in the Lay Employees Pension Plan. To be covered, the employee must have completed one year of service and be aged 25 or older. Employees do not contribute to the plan and contributions are set from time to time by the archdiocese and approved by the Finance Council for the archdiocese. Employees are vested in their pension accounts after five years of service. For questions, refer to the Lay Employee​s Pension Plan booklet (HR intranet; username and password re​quired) and Lay Employees Pension Plan Beneficiary Designation​ (HR intranet; username and password re​quired). For more information, contact Pension Services at 866-907-5472.​​​​​​

5.7.6.2 Tax-Deferred 403(b) Retirement Plans

Employees may elect to participate voluntarily in a 403(b) or 403(b)(7) supplemental retirement plan. The funds are a pretax deduction​ set up through the location, with prior permission of the archdiocese. Substantial federal reporting requirements apply. Federal or state taxes are not withheld from this money at the time the deductions are made.

Questions regarding payroll deductions for Archdiocesan Catholic Center (ACC) and cemetery and mortuary personnel should be addressed to the payroll manager at the ACC​. Parish and school employees should address questions to their location's payroll practitioner. Questions regarding enrollment, funds, statements, and account balances should be addressed to the plan sponsor.

5.7.6.3 Social Security and Medicare

All archdiocesan employees are covered by federal Social Security and Medicare. The wage deductions for Social Security and Medicare taxes are matched by the location. The total contribution by the employee and the location is credited to Social Security and Medicare benefits that may be available when the employee is eligible to retire or applies for Medicare. Federal disability and survivor's benefits are also financed through Social Security deductions.​