The Archdiocese of Chicago's established a retirement plan for all full-time lay employees effective January 1, 1967.  The plan was frozen on June 30, 2007.  Benefits accrued through the date of the freeze are payable to employees who have met the vesting requirements.  Benefits are payable after retirement or other termination of employment, as early as age 55 on a reduced basis, with the full benefit payable at age 65.

The benefit accrual was based on calendar year earnings during benefit eligible employment.  For active members as of June 1, 2001, the career-average benefit formula was updated to reflect 1997-2001 average pay for all years of employment prior to January 1, 2002 (1997 - 2000 pay for members terminating between June 1, 2001 and December 31, 2001)

For active members as of December 31, 1993, the career-average benefit formula was updated to reflect 1988-1992 average pay for all years of employment prior to January 1, 1993. The normal retirement benefit is 1.375% of career earnings after January 1, 1993. Prior to January 1, 1994, the normal retirement benefit was 1.375% of career earnings after January 1, 1982. Prior to January 1, 1982, the benefit was 1.25% of career earnings.

For all members, effective January 1, 2006, the annual cost-of-living adjustment was limited to 1.5% for all future years.