Loyola University Employees' Retirement Plan (LUERP)

You may visit the LUERP Pension Estimator tool at any time to determine the estimated value of your retirement account. 

Important Notice: Loyola University of Chicago, as the Plan Administrator of LUERP, has decided to terminate the Plan effective December 31, 2026. This change will have no impact on the value of your accrued benefit under the Plan and requires no action by you at this time. This change does not impact any other retirement plans or benefits.

If you currently receive a monthly annuity: Your benefit payment will not change. The gross amount, and timing of your monthly annuity payment will stay the same.

If you have not commenced your benefit: You will keep your usual options for benefit commencement and forms of payment, as described in the SPD, as well as having a special limited opportunity in 2027 to elect a lump sum or annuity.

 

Your Loyola retirement benefits are an important part of your total compensation today and a key to your financial security for the future. LUERP and other qualified pension plans offered by your employer, together with Social Security and your personal savings, are intended to provide you with income during retirement. 

LUERP was established in 1949 and has since been amended many times to provide greater benefits, offer additional payment options, create more flexibility for participants, and comply with new legislation. The plan was most recently amended effective January 1, 2008. The current plan provisions are reflected on this site.

• The plan provides retirement benefits to approximately 6,000 regular full and part-time employees at seven Jesuit institutions that have met the plan's eligibility, participation, and vesting requirements. LUERP is a frozen 401(a) qualified defined benefit plan which entitles vested participants to a monthly benefit at age 65 for the remainder of their life.

The plan uses one of two formulas to determine the participant's monthly benefit amount.

• The formulas factor in the number of years of benefit service worked at a participating employer and the participant's final average earnings up to the freeze date. Whichever formula results in a larger benefit equals the participant's monthly benefit at age 65 retirement.
• More information may be found in the Summary Plan Description (SPD). The SPD is a document that is intended to explain the LUERP Plan in terms that are easy to understand.

Your benefit may be distributed to you after you are no longer employed by any of the LUERP participating employers.

You may visit the LUERP Pension Estimator tool at any time to determine the estimated value of your retirement account. 

Facts	Resources	Financials
Employer Freeze Date Information	LUERP Pension Estimator	Annual Financial Statements (see below)
LUERP Facts at a Glance	LUERP Beneficiary Form	Annual Funding Notice LUERP (Active Participants) Annual Funding Notice LUERP (Retirees)
LUERP Retirement Checklist	Summary Plan Description	Annual Report (5500) (see below)

Please note: The LUERP froze in 2004. If you were hired in 2003 you may not be eligible for this benefit because a one year "waiting period" was required in order to become a participant. All eligibility, participation, and benefit accruals ceased as of the Plan Freeze date. 

For questions regarding LUERP, you may contact: 

Jannel Cheers, LUERP/DB Coordinator
Phone: (312) 915-7209 / jcheers@luc.edu 

VACANT, LUERP/DB Manager
Phone: (312) 915-7925 / luerp@luc.edu