What are the changes?

Beginning May 10, 2017, you will have access to a new, tiered fund line-up:

• A range of investment options: Choose from a wide selection of investment options, organized in tiers to help make it easy for you to find a mix that will help you meet your investment goals.
• Self-Directed Brokerage: Both Fidelity and TIAA will offer brokerage account options that will provide you with an opportunity to invest in a broad range of investment options beyond those offered directly through the Plan.

How will the changes go into effect?

• On May 10, 2017, you will gain access to new funds: Review the Transition Brochure that was mailed to your home for information on the new funds. Information regarding each investment option’s risk, as well as its strategy and objective, including a prospectus or fact sheet, if available, can be obtained by going to tiaa.org/uasys or NetBenefits.com/uark. Information sessions will take place to give you more information on the transition.
• On October 2, 2017, if a participant has not chosen investment options from the new line up, his or her current account balances, payroll contributions and future investment elections will be mapped to what the University of Arkansas believes most closely aligns with the investment objectives and risks as your current investment choices.
  
  Also on October 2, 2017, the Community Colleges and Fort Smith will gain access to Fidelity Investments.
• The dates shown are based on the timing and accuracy of a variety of factors, including the transfer of data, receipt of instructions, and receipt of assets. Changes in any of these factors may result in changes to the dates and timing, including the dates on which, and thus the prices at which, assets in your account are sold and/or reinvested.

What's not changing?

Fidelity and TIAA will continue to be the service providers for the UA System 403(b)/ 457(b) Retirement Plan. You will continue to have access to:

• TIAA and Fidelity will continue as the retirement plan investment providers. Enrollment with one or both of these investment providers will not change.
• The plan design and rules of the plan all remain unchanged.
• Vesting, contributions, eligibility, base and matching employer contributions, loan guidelines and distribution rules all remain the same.
• Current payroll contributions remain the same.
• Options to select funds, move accumulations and make changes in funds selections continue without change.
• Access to on-line, call center and in-person support from Fidelity and TIAA will continue without change.

What do I need to do?

Investment Options to Consider

The new investment lineup will be available on May 10, 2017. There will be four types of investment options within each provider's investment lineup so you can easily create an investment mix to help you meet your retirement goals and investing style and needs. You do not need to choose from just one category; you may invest using any or all of these categories.

To see how your funds will transfer, click here. Please refer to the Investment Options guide for a complete description of each investment option. You may also research investment options by clicking Investment Research and using the ticker symbol or going to tiaa.org/uasys.

Tier 1: Target Date Funds

Target date funds are mutual funds that automatically reset the asset mix of stocks, bonds, and cash equivalents in their portfolios based on an anticipated retirement date. Their returns are not guaranteed, but depend on how the market performs.

Through the UA System 403(b)/ 457(b) Retirement Plan core fund line up, you have access to the Vanguard Target Retirement Date Funds. These are designed for investors expecting to retire around the year indicated in each fund's name. The funds are managed to gradually become more conservative over time as they approach the target date. The investment risk of each target date fund changes over time as its asset allocation changes. The funds are subject to the volatility of the financial markets, including that of equity and fixed-income investments in the U.S. and abroad, and may be subject to risks associated with investing in high-yield, small-cap, and foreign securities. Principal invested is not guaranteed at any time, including at or after the funds' target dates.

Simply find your date-of-birth range on page 9 of the transition brochure that was mailed to your home to determine into which Vanguard Target Retirement Fund your contributions and existing balances could be directed.

Tier 2: Passive Funds

Passively managed funds (also called index funds) are designed to mirror a market index or benchmark. These funds generally have lower fees than funds that are "actively managed," that is, funds that try to outperform - or beat - market returns, rather than just track them.

Indexes are unmanaged. It is not possible to invest directly in an index.

Tier 3: Actively Managed Funds

Actively managed funds try to outperform comparable market indices or benchmarks. These funds are actively managed by a fund manager or team of managers who select the investments they think will deliver the best combination of risk and return. Actively managed funds often have higher fees than passively managed funds due to the level of involvement the fund manager has in maintaining the portfolio. These actively managed funds give you a great degree of flexibility and the ability to rebalance and manage the portfolio over time and as your situation changes.

The cost of actively managed funds may be higher than passively managed funds.

Tier 4: Self-Directed Brokerage Account

A self-directed brokerage account combines the convenience of your retirement plan with the additional flexibility of an individual brokerage account. It gives you expanded mutual fund investment choices and the opportunity to manage your retirement contributions.

A self-directed brokerage account includes investments beyond those in your plan's lineup. The Retirement Committee neither evaluates nor monitors the investments available through a self-directed brokerage account. It is your responsibility to ensure that the investments you select are suitable for your situation, including your goals, time horizon, and risk tolerance. Contact your investment provider for a fact sheet and/or commission schedule for applicable fees and risks.

Employees of the Community Colleges and Fort Smith, you will have access to Fidelity and the funds offered through Fidelity beginning October 2, 2017.

What's Changing?

What are the changes?

Beginning May 10, 2017, participants will have access to a new, tiered fund line-up.

• New funds from Vanguard, Eagle, Goldman Sachs, Mass Mutual, JPMorgan and others will be available in the core lineup through both Fidelity and TIAA.
• The current investment selection options with Fidelity and TIAA will be available through October 2, 2017. At that time, many options will no longer be available in the University's core offering.
• Most of those current TIAA and Fidelity investment options as well as hundreds more will be available through a self-directed brokerage account with TIAA and/or Fidelity.

How will the changes go into effect?

There will be two phases of the plan changes.

• On May 10, 2017, you will gain access to new funds: Most of those current TIAA and Fidelity investment options as well as hundreds more will be available through a self-directed brokerage account with TIAA and/or Fidelity.
• October 2017: The current fund line up will no longer be available, and the "new" line up will go into effect. Several of the funds through TIAA will "freeze," meaning if a participant has a current balance in that fund it will remain there unless the participant takes action.
  
  If a participant has not chosen investment options from the new line up, his or her current account balances, payroll contributions and future investment elections will be mapped to what the University of Arkansas believes most closely aligns with the investment objectives and risks as your current investment choices.
  
  The dates shown are based on the timing and accuracy of a variety of factors, including the transfer of data, receipt of instructions, and receipt of assets. Changes in any of these factors may result in changes to the dates and timing, including the dates on which, and thus the prices at which, assets in your account are sold and/or reinvested.

Why are these changes taking place?

Our philosophy of offering modern, flexible and market-based benefits continues to be a priority.

• We believe the changes will result in lower costs to participants which can lead to improved retirement savings in their accounts.
• The changes should/ are intended to make selecting investment choices easier.
• The University has improved its ability to monitor and review the performance of the funds by decreasing the number of funds available.

Next Steps

Review the Transition Brochure that was mailed to your home and contact Fidelity at 800-343-0860 or
TIAA at 800-842-2252 with questions.

Review the mapping strategy document when it is mailed to your home in late August to see how your current funds may be affected.

What's Changing?

What is staying the same?

TIAA will continue to be one of the investment providers for the UA System 403(b)/ 457(b) retirement plan

• TIAA will continue as one of the retirement plan investment providers. Enrollment through TIAA will not change.
• The plan design and rules of the plan all remain unchanged.
• Vesting, contributions, eligibility, base and matching employer contributions, loan guidelines and distribution rules all remain the same.
• Current payroll contributions remain the same.
• Options to select funds, move accumulations and make changes in funds selections continue without change.
• Access to on-line, call center and in-person support from TIAA will continue without change.

What are the changes?

Beginning May 10, 2017, participants will have access to a new, tiered fund line-up.

• New funds from Vanguard, Principal, JPMorgan and others will be available in the core lineup through TIAA.
• Most of those current TIAA selections options as well as hundreds more will be available through a self-directed brokerage account with TIAA.

Beginning October 2, 2017, VALIC will freeze as an investment provider and Fidelity Investments will become a new option.

• Most of the current investment options with TIAA will no longer be available in the University's core offering after October 2, 2017.
• Balances accrued in VALIC accounts will remain at VALIC unless you move them through a transfer of assets.
• Loans through VALIC will remain the same, and if you have a loan, you will continue to repay these loans through VALIC.
• You will have the option to direct their future contributions to Fidelity or TIAA. If you are currently investing through VALIC and do not make an election, your contributions will be directed to Fidelity and invested in the Vanguard Target Retirement Date Fund.
• Fidelity will offer a similar tiered fund line up as TIAA with a few differences. The transition brochure that will be mailed to your home will have more information regarding the funds available to them.
• Fidelity will also offer a brokerage account service that will allow participants to access hundreds of additional options.

How will the changes go into effect?

There will be two phases of the plan changes.

• On May 10, 2017 you will gain access to new funds through TIAA: A transition brochure will be mailed out next week which will include information on the new funds. Information regarding each investment option's risk, as well as its strategy and objective, including a prospectus or fact sheet, if available, can be obtained by going to www.tiaa.org/uasys or www.NetBenefits.com/UArk. Information sessions will take place to give your participants more information on the transition.
• October 2, 2017 - TIAA Participants: If a TIAA participant has not chosen investment options from the new line up, his or her current account balances, payroll contributions and future investment elections will be mapped to the investment option that the University of Arkansas believes most closely aligns with his or her current investment choices. Look for information regarding this on www.NetBenefits.com/UArk. A copy of this will also be mailed to participants in late August.
• October 2, 2017 – VALIC Participants: If no election is made, new contributions beginning on October 2, 2017 will be directed to Fidelity Investments and invested in the Vanguard Target Retirement Date fund.

• The dates shown are based on the timing and accuracy of a variety of factors, including the transfer of data, receipt of instructions, and receipt of assets. Changes in any of these factors may result in changes to the dates and timing, including the dates on which, and thus the prices at which, assets in your account are sold and/or reinvested.

Why are these changes taking place?

Our philosophy of offering modern, flexible and market-based benefits continues to be a priority.

• The changes will result in lower costs to participants which can lead to improved retirement savings in their accounts.
• The changes will make selecting investment choices easier.
• The University has improved its ability to monitor and review the performance of the funds by decreasing the number of funds available.

Next Steps

Review the Transition Brochure that was mailed to your home and contact Fidelity at 800-343-0860 or
TIAA at 800-842-2252 with questions.

Review the mapping strategy document when it is mailed to your home in late August to see how your current funds may be affected.

What's Changing?

What is staying the same?

TIAA will continue to be one of the investment providers for the UA System 403(b)/ 457(b) retirement plan.

• TIAA will continue as one of the retirement plan investment providers. Enrollment through TIAA will not change.
• The plan design and rules of the plan all remain unchanged.
• Vesting, contributions, eligibility, base and matching employer contributions, loan guidelines and distribution rules all remain the same.
• Current payroll contributions remain the same.
• Options to select funds, move accumulations and make changes in funds selections continue without change.
• Access to on-line, call center and in-person support from TIAA will continue without change.

What are the changes?

Beginning May 10, 2017, participants will have access to a new, tiered fund line-up.

• New funds from Vanguard, Principal, JPMorgan and others will be available in the core lineup through TIAA.
• Most of those current TIAA selections options as well as hundreds more will be available through a self-directed brokerage account with TIAA.

Beginning October 2, 2017, Fidelity Investments will become a new option.

• Most of the current investment options with TIAA will no longer be available in the University's core offering after October 2, 2017.
• Participants will have the option to direct their future contributions to Fidelity or TIAA. Fidelity will offer a similar tiered fund line up as TIAA with a few differences. The transition brochure that will be mailed to your home will have more information regarding the funds available to them.
• Fidelity will also offer a brokerage account service that will allow you to access hundreds of additional options.

• The dates shown are based on the timing and accuracy of a variety of factors, including the transfer of data, receipt of instructions, and receipt of assets. Changes in any of these factors may result in changes to the dates and timing, including the dates on which, and thus the prices at which, assets in your account are sold and/or reinvested.

How will the changes go into effect?

There will be two phases of the plan changes.

• On May 10, 2017 you will gain access to new funds through TIAA: A transition brochure will be mailed out next week which will include information on the new funds. Information regarding each investment option's risk, as well as its strategy and objective, including a prospectus or fact sheet, if available, can be obtained by going to www.tiaa.org/uasys or www.NetBenefits.com/uark. Information sessions will take place to give you more information on the transition.
• October 2, 2017 - TIAA Participants: If you have not chosen investment options from the new line up, his or her current account balances, payroll contributions and future investment elections will be mapped to what the University of Arkansas believes most closely aligns with the investment objectives and risks as your current investment choices. Look for information regarding this on www.NetBenefits.com/UArk. A copy of this will also be mailed to participants in late August.
• October 2, 2017 – Fidelity will become an investment provider: You may begin to direct contributions to Fidelity Investments. A listing of available funds will be available in the transition brochure or by going to NetBenefits.com/UArk.

Why are these changes taking place?

Our philosophy of offering modern, flexible and market-based benefits continues to be a priority.

• The changes will result in lower costs to participants which can lead to improved retirement savings in their accounts.
• The changes will make selecting investment choices easier.
• The University has improved its ability to monitor and review the performance of the funds by decreasing the number of funds available.

Next Steps

Review the Transition Brochure that was mailed to your home and contact Fidelity at 800-343-0860 or
TIAA at 800-842-2252 with questions.

Review the mapping strategy document when it is mailed to your home in late August to see how your current funds may be affected.

Below is a list of informational sessions as of August 31, 2017. We are currently scheduling more times and locations. Please check back often to see when Fidelity and TIAA may be visiting your campus.

If you would prefer to view the presentation online, please click here.