401(k) Retirement Savings Plan
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Voya Financial is the recordkeeper for the RCAB 401(k) Retirement Savings Plan. Participants can contact Voya for information about their accounts online at rcab.voya.com or 855-817-1664. Learn more about your account with Voya.
All W-2 lay employees and priests are eligible to contribute their own funds to the 401(k) Plan through payroll deductions, including those marked as Not Benefit Eligible (starting in August 2024). Employees who are Not Benefit Eligible are not eligible for an employer match or subject to auto-enrollment.
Benefit-eligible lay employees hired, rehired or changing to benefit-eligible at locations participating in the RCAB 401(k) Plan are automatically enrolled in the 401(k) Plan with a 4% pre-tax deferral if no election is made within 45 days from the date of hire, rehire date or date of change to benefit-eligible (Automatic Enrollment and Automatic Escalation Flyer).For more information on benefit eligibility, please visit catholicbenefits.org/at-a-glance.
Basic information regarding the Plan is available in English, Spanish, and Portuguese.A chart of Plan Highlights is available in English, Spanish, and Portuguese.
A chart of Plan Highlights for Priests is available in English, Spanish, and Portuguese.
Click Here to view the Important Plan Information and Default Investment Notice.
The 401(k) Plan’s employer matching contribution for eligible lay employees and priests is 100% of the first 3% contributed plus 50% of the next 2% contributed, for a maximum of 4% for employees who contribute at least 5% of their eligible wages.
Participants are initially invested in the American Funds Target Date fund based on the participant’s age. For details on all of the available investment options, including historical performance, expenses, fund fact sheets and more, go to catholicbenefits.org/investment-options or log on to your account at rcab.voya.com. To view options from your online account, click Accounts from the top menu, select an account on the left, click Go to Account, select Investments & Research, and then select the Fund Information tab.
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News
- Starting in August 2024, all W-2 lay employees and priests will be eligible to contribute their own funds to the 401(k) Plan through payroll deductions, including those marked as Not Benefit Eligible. Employees listed as Not Benefit Eligible are not eligible for an employer match or auto-enrollment. The Benefits Department and Voya will send communications to affected employees in mid-July.
- Effective 8/19/2024, automatic enrollments will be at 4% pre-tax (currently 3% pre-tax).
- Effective 8/19/2024, the RCAB 401(k) Retirement Savings Plan is adding Automatic Contribution Rate Escalation ("Auto Escalate") to the Plan. This new feature will increase Contribution Rates by 1% annually, to a maximum of 5% of eligible compensation, without any action required by the participant. Specific information was mailed to affected participants in July 2024.
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UPDATED Annual Safe Harbor and Automatic Enrollment Notices for the Roman Catholic Archdiocese of Boston 401(k) Plan for Plan Year 2024 are now available!
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Related Links
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