DREXEL UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN Contribution & Employer Match

How DREXEL UNIVERSITY Supports Your Retirement Savings

DREXEL UNIVERSITY provides retirement savings benefits through DREXEL UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN. Understanding your employer’s contribution structure is essential — it directly affects how quickly your retirement nest egg grows. Below you will find the plan’s average account values and contribution patterns based on publicly filed data.

DREXEL UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for DREXEL UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN is $108,154.00

DREXEL UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for DREXEL UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN is $2,424.00. If you contribute an amount exceeding this, you have saved more than your colleagues. Congratulations! Keep up the good work. Otherwise, you might want to consider contributing more to ensure a better retirement future.
155,171.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 2,424.00 in DREXEL UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in DREXEL UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN

An employer match is one of the most valuable benefits in any 401(k) plan — it is essentially free money added to your retirement savings. Your employer contributes additional funds based on a percentage of your own contributions. Missing out on the full match is one of the most common and costly retirement mistakes employees make.

DREXEL UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN Total Employer Contribution and Match Rate

In 2024, DREXEL UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN allocates $36,454,666.00 to match its employees’ contributions, providing an employer match rate of 107.67% of their contributions

DREXEL UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in DREXEL UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN is approximately $2,134.00
Investing in this additonal $2,134.00 for 20 years would give you extra $136,638.00, assuming a 10% annual return.

* Data are from public filings.

Are You Leaving Dollars on the Table?

If you are not contributing enough to capture the maximum employer match, you are literally turning down part of your compensation. For many plans, this can mean thousands of dollars per year in lost employer contributions — money that would compound over decades.

Use the policy details and calculator below to find out exactly how much you need to contribute to capture every dollar of employer matching.

DREXEL UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN Contribution & Match Policy

DREXEL UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN Plan Policies

DREXEL UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN Contribution, Match and Other Plan Policies

  • Employee Contributions – Participant contributions are made by a participant on a pre-tax basis and/or on an after-tax Roth basis as described in the Plan document.
  • Contributions may only be made with respect to compensation that is compensation within the meaning of Section 415(c)(3) of the Internal Revenue Code of 1986, as amended (the Code).
  • All eligible employees who do not enroll in the Plan within 31 days of their date of hire are automatically enrolled at a rate of 2% of their eligible compensation with the default investment at TIAA as of the next available payroll.
  • Contribution changes, including stopping future participation, can be made at any time by participants.
  • Catch-Up Contributions – All participants who are eligible to make participant contributions under the Plan and who have attained age 50 before the close of the Plan Year shall be eligible to make catch-up contributions in accordance with and subject to the limitations of the Code.
  • Basic Contributions – Provided that a Basic Employee is contributing at least one percent (1%) of compensation (determined on either a payroll period basis or a Plan Year basis, as applicable to the Basic Employee’s employment classification), and is eligible to receive employer contributions, the University contributes a Basic Contribution to the Plan equal to (a) 3% of compensation for a participant under the age of 50, or (b) 5% of compensation for a participant age 50 or older.
  • Matching Contributions – For a Basic Employee who is eligible to receive employer contributions, the University contributes a matching contribution to the Plan that is equal to 100% of the Basic Employee’s contributions for the payroll period up to 6% of compensation for the payroll period.
  • Vesting – A participant shall have a 100% non-forfeitable interest in his or her account under the Plan.

2025 IRS 401(k) Contribution Limits

The IRS sets annual limits on how much you and your employer can contribute to a 401(k) plan. Knowing these limits helps you maximize tax-advantaged savings. Here are the current limits:

 20242025
Employee elective deferrals (pretax + Roth)$23,000$23,500
Employee + employer contributions combined$69,000$70,000
Catch-up contributions (age 50+)$7,500$7,500
Enhanced catch-up (ages 60–63, SECURE 2.0)N/A$11,250

The power of maxing out: If you contribute the full $23,500 annually for 20 years at a 10% average annual return, you would accumulate approximately $1,505,256. If you can maximize the combined employee+employer limit of $70,000 per year, that grows to roughly $4,480,385 over the same period — more than triple.

Use the 401(k) Savings Calculator to model your specific contribution scenario and see how your savings can grow over time.

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