The University of Chicago Pension Plan for Staff Employees Overview

General Information

The University of Chicago Pension Plan for Staff Employees (SEPP) is a tax-qualified 401(a) defined benefit pension plan. It provides eligible employees with retirement benefits based on final average earnings and years of participation, funded by the University. Effective July 1, 2016, the plan closed to new hires and most enrolled employees ceased accruing additional benefits, though existing benefits remain. A small group of Teamsters Local 743 members continue to accrue benefits.