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The following summarizes the administrative updates to your Vanderbilt University
403(b) Retirement Plan. Please review carefully to understand all the updates in process and any action you may need to take.
Vanderbilt University and Medical Center are pleased to introduce a new simplified structure to help faculty and staff members build a diversified retirement savings portfolio in the Vanderbilt University 403(b) Retirement Plan (the "403(b) Plan"). Beginning in April 2015, you'll have the option to invest your contributions in a streamlined selection of funds or set up a self-directed brokerage account to invest in your choice of additional mutual funds. Fidelity Investments will become the sole provider of administrative services, meaning that no matter how many funds you choose, you'll get one statement and have one place to go to manage your account and get retirement planning guidance.
The transition to Fidelity and new investment lineup will take several months to implement. This site will be updated throughout the transition and will provide you with the latest information, key dates, and action steps to take. This site is available virtually 24/7 and is a valuable resource for you. Now is a great time to take a closer look at the benefits your Plan offers.
The new investment lineup is available at Fidelity. Participants with an existing account at Fidelity may contribute to and make exchanges into the new investment lineup.
The investment election window is available to make a selection in the new investment lineup.
Fidelity becomes the exclusive administrative service provider.
All future contributions are directed to the new investment lineup at Fidelity and invested according to your investment selection provided during the investment election window.
Mutual fund account balances at Fidelity, TIAA-CREF and Vanguard are transferred to the new lineup.
Transition to Fidelity and the new investment lineup is complete. All services are live at Fidelity with full access to your account.
1. Choose your investments in the new investment lineup for future contributions.
2. Designate your beneficiaries.
3. Schedule a one-on-one consultation.
Before investing in any mutual fund, please carefully consider the investment objectives, risks, charges, and expenses. For this and other information, call Fidelity at 1-800-343-0860 or visit www.fidelity.com for a free prospectus or a summary prospectus (if available). Read it carefully before you invest.
Although consultations are provided one-on-one, it is educational in nature, is not individualized and is not intended to serve as the primary or sole basis for your investment or tax-planning decisions.
TIAA-CREF, VALIC, Vanguard and Fidelity Investments are independent entities and are not legally affiliated.
Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917
708378.2.1
Date | What's happening | What this means to you |
---|---|---|
February through April | Onsite one-on-one appointments and educational seminars available | You can meet one-on-one with a Fidelity Planning and Guidance Consultant to review your investment choices. You can also attend a group seminar to get an overview of the 403(b) Plan updates and action steps. |
February 2, 2015 through March 31, 2015 | The investment election window opens to make an investment selection for future contributions. |
Participants with an existing account at Fidelity may contribute to and make exchanges into the new investment lineup. You can now make an investment selection at Fidelity for future contributions to be directed to the new investment lineup. Any investment selections for future contributions at Fidelity that are not included in the new investment lineup will be reallocated according to the target date fund aligned closest to the year you turn 65. The target date funds 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 it approaches 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 target dates. |
March 9, 2015 | Open a BrokerageLink® account by this date in order to take advantage of the balance transfer-in-kind for eligible balances held at Fidelity or Vanguard. | Fidelity BrokerageLink® accounts must be established by this date for eligible balances held at Fidelity and Vanguard to be transferred in-kind. |
April 2015 | All future contributions will be directed to the new investment lineup at Fidelity. | If you have an investment selection in the new investment lineup at Fidelity, your contributions will be directed accordingly. If no investment selection is provided, your future contributions will be invested in the target date fund closest to the year you turn 65. |
3 p.m. Central time on April 2, 2015 | Blackout period begins for Participants with balances transferring from TIAA-CREF. |
This is the last day TIAA-CREF will accept changes to your current investments and process any transactions in your 403(b) Plan account. |
3 p.m. Central time on April 8, 2015 | Blackout period begins for Participants with balances transferring from Vanguard. |
This is the last day Vanguard will accept changes to your current investments and process any transactions in your 403(b) Plan account. |
April 13, 2015 |
Mutual fund account balances held at TIAA-CREF or Vanguard will be liquidated at the close of the market (usually 3 p.m. Central time). Account balances held at Fidelity will be transferred to the new investment lineup or will transfer in-kind to a Fidelity BrokerageLink® account. |
If you have mutual fund balances at TIAA-CREF or Vanguard they will be liquidated on this date. Fidelity account balances will transfer to the new investment lineup according to the Investment Option Mapping Appendix under the Resources section on the home tab, unless a BrokerageLink® account was established for the one-time transfer in-kind. |
April 14, 2015 |
Mutual fund balances at TIAA-CREF or Vanguard will transfer to Fidelity and will be invested in the new investment lineup. Updates to your elective deferral contribution can be made at any time online in NetBenefits®. |
Mutual fund balances at TIAA-CREF or Vanguard will transfer according to the Investment Option Mapping Appendix in the Resources section on the home tab. Vanguard balances may transfer in-kind to Fidelity BrokerageLink if a self-directed brokerage account was established. |
Before investing in any mutual fund, please carefully consider the investment objectives, risks, charges, and expenses. For this and other information, call Fidelity at 1-800-343-0860 or visit www.fidelity.com for a free prospectus or a summary prospectus (if available). Read it carefully before you invest.
Although consultations are provided one-on-one, it is educational in nature, is not individualized and is not intended to serve as the primary or sole basis for your investment or tax-planning decisions.
Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917
Vanderbilt is pleased to introduce a new investment lineup to help the faculty and staff members build a diversified retirement savings portfolio in the Vanderbilt University 403(b) Retirement Plan.
The new investment lineup will be available through Fidelity and will provide three tiers of investment choices so you can easily create an investment mix to help you meet your specific savings goals and investing needs. You can choose among the following tiers of investments:
Tier 1: Vanguard Target Date Funds - for investors who prefer an easier, less involved approach by investing through a single fund and the added benefit of professional management to monitor and adjust investments over time.
Tier 2: Core Investment Options - for investors who want to divide contributions among a group of funds, such as some offered by Vanguard, carefully selected and continuously monitored by Vanderbilt's Retirement Plan Oversight Committee.
Tier 3: Self-directed Brokerage Option - for very engaged, hands-on investors who want expanded mutual fund investment options and are comfortable managing your portfolios. If you would like to keep your money invested in the same mutual funds they are in today, but those funds are not included in the core lineup, you may be able to do so using a self-directed brokerage account. A self-directed brokerage account may entail greater risk and is not appropriate for everyone. Additional fees may apply to a BrokerageLink® account.
Review the Transition Guide and the Investment Options Guide under the Resources section on the home tab for more details.
Fund Name | Ticker Symbol | |
Tier 1: Target Date Funds |
Vanguard Target Retirement Income Investor Shares Vanguard Target Retirement 2010 Fund Investor Shares Vanguard Target Retirement 2015 Fund Investor Shares Vanguard Target Retirement 2020 Fund Investor Shares Vanguard Target Retirement 2025 Fund Investor Shares Vanguard Target Retirement 2030 Fund Investor Shares Vanguard Target Retirement 2035 Fund Investor Shares Vanguard Target Retirement 2040 Fund Investor Shares Vanguard Target Retirement 2045 Fund Investor Shares Vanguard Target Retirement 2050 Fund Investor Shares Vanguard Target Retirement 2055 Fund Investor Shares Vanguard Target Retirement 2060 Fund Investor Shares |
VTINX VTENX VTXVX VTWNX VTTVX VTHRX VTTHX VFORX VTIVX VFIFX VFFVX VTTSX |
Tier 2: Core Funds |
Delaware Smid Cap Growth Fund Institutional Class DFA U.S. Targeted Value Portfolio Institutional Class Dodge & Cox Global Stock Fund Harding Loevner International Equity Portfolio Institutional Class Loomis Sayles Core Plus Bond Fund Class Y Principal Fixed Account Vanguard Dividend Growth Fund Investor Shares Vanguard FTSE Social Index Fund Institutional Shares Vanguard Institutional Index Fund Institutional Shares Vanguard Prime Money Market Fund Institutional Shares Vanguard Small-Cap Index Fund Institutional Shares Vanguard Total Bond Market Index Fund Institutional Shares Vanguard Total International Stock Index Fund Institutional Shares |
DFDIX DFFVX DODWX HLMIX NERYX N/A VDIGX VFTNX VINIX VMRXX VSCIX VBTIX VTSNX |
Tier 3: Self-Directed Brokerage Option | Fidelity BrokerageLink® | N/A |
Before investing in any mutual fund, please carefully consider the investment objectives, risks, charges, and expenses. For this and other information, call Fidelity at 1-800-343-0860 or visit www.fidelity.com for a free prospectus or a summary prospectus (if available). Read it carefully before you invest.
Although consultations are provided one-on-one, it is educational in nature, is not individualized and is not intended to serve as the primary or sole basis for your investment or tax-planning decisions.
Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917
You can select your investment options for future contributions to the 403(b) Plan during the investment election window between February 2 and March 31, 2015. If no investment selections are made or investments selections are not directed to the new investment lineup, your future contributions will be invested in the target date fund aligned closest to the year you turn 65.
Current Provider | Your Existing Account Balances | Your Future Contributions |
Fidelity Investments |
At 3 p.m. Central time on April 13, 2015, all account balances in the current investment lineup at Fidelity will be transferred the corresponding fund in the new investment lineup, according to the Investment Option Mapping Appendix in the Resources section on the home tab. If you would like your eligible mutual funds at Fidelity to be transferred in-kind to the same
If you do not want your fund balances to transfer according to the Investment Option Mapping Appendix, you must make a change to your investment options at Fidelity prior to 3 p.m. Central time on April 13, 2014. |
Any investment selections for future contributions at Fidelity as of 3 p.m. Central time on March 31, 2015, that are not included in the new investment lineup will be reallocated according to the target date fund aligned closest to the year you turn 65. Participants with an existing Fidelity account may have contributions directed to the new investment lineup at Fidelity beginning February 2, 2015. |
TIAA-CREF |
At the close of the market, generally 3 p.m. Central time, on April 13, 2015, all mutual fund account balances held at TIAA-CREF will be liquidated and transferred to the corresponding fund in the new investment lineup, according to the Investment Option Mapping Appendix under the Resources section on the home tab. |
Beginning in April 2015, all future contributions will be directed to the new investment lineup. Any investment selections for future contributions at Fidelity as of 3 p.m. Central time on March 31, 2015, that are not included in the new investment lineup will be reallocated according to the target date fund aligned closest to the year you turn 65. |
VALIC |
Your current balances will remain at VALIC. However, you may initiate an individual transfer of your assets into the new investment lineup. |
Beginning in April 2015, all future contributions will be directed to the new investment lineup. Any investment selections for future contributions at Fidelity as of 3 p.m. Central time on March 31, 2015, that are not included in the new investment lineup will be reallocated according to the target date fund aligned closest to the year you turn 65. |
Vanguard |
At the close of the market, generally 3 p.m. Central time, on April 13, 2015, all Vanguard account balances will be liquidated and transferred to the corresponding mutual fund in the new investment lineup, according to Investment Option Mapping Appendix under the Resources section on the home tab. If you would like your eligible mutual funds at Vanguard to be transferred in-kind to the same fund(s) within Fidelity BrokerageLink, you should set up a BrokerageLink account by March 9, 2015. Refer to the Transition Guide, schedule a one-on-one consultation, or call Fidelity. |
Beginning in April 2015, all future contributions will be directed to the new investment lineup. Any investment selections for future contributions at Fidelity as of 3 p.m. Central time on March 31, 2015, that are not included in the new investment lineup will be reallocated according to the target date fund aligned closest to the year you turn 65. |
Before investing in any mutual fund, please carefully consider the investment objectives, risks, charges, and expenses. For this and other information, call Fidelity at 1-800-343-0860 or visit www.fidelity.com for a free prospectus or a summary prospectus (if available). Read it carefully before you invest.
Although consultations are provided one-on-one, it is educational in nature, is not individualized and is not intended to serve as the primary or sole basis for your investment or tax-planning decisions.
Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917
Here are some frequently asked questions and answers to help with the upcoming 403(b) Plan updates. Faculty and Staff members may also access them online. Click here.
At Vanderbilt, we know that saving for retirement is important, and our 403(b) retirement plan is one way Vanderbilt supports you in doing that. We are committed to making sure our retirement program keeps up with changes in the financial markets and meet all legal requirements. After an extensive review of how our plan operates, how employees save, and new federal regulations for retirement plan sponsors, we are taking steps to help make the plan work even better for you beginning in April 2015. These updates will provide you with more streamlined investment choices, helping to simplify your retirement planning and decision making.
The plan currently offers 350+ investment options which may make it hard for our broad employee population to make good investment decisions. This new structure has been designed to offer you a wide array of investment options, chosen by Vanderbilt's Retirement Plan Oversight Committee, from leading investment managers, while providing a simplified method for making decisions and categorizing the plan’s investment options. The investments offered in tiers 1 and 2 will be monitored and reviewed on a quarterly basis by committee.
The new investment lineup will be available February 2, 2015, to begin making your investment selections and contributions directed to Fidelity may be invested in the new lineup at this time. If your contributions are not currently directed to Fidelity, your future contributions will be directed to the new lineup in April 2015. All mutual funds balances not in the new lineup at Fidelity, TIAA-CREF, or Vanguard will be transferred to the new lineup on April 13, 2015.
While your 403(b) investment options are being replaced with the new investment lineup, your mutual fund balances will be moved directly from those investments to ones chosen by Vanderbilt. Your money stays invested-or "in the market"-throughout the transition, except when funds are being moved from TIAA-CREF and Vanguard on April 13 and April 14, 2015. Mutual fund balances at Fidelity will transfer directly into the new investment options after the close of the market on April 13, 2015 and will remain "in the market" throughout the transition.
Mapping refers to the process by which assets are transferred from one fund to another. If you have a current mutual fund balance or investment election in a TIAA-CREF, Vanguard or Fidelity investment option that will no longer be part of the core lineup, your balance will be automatically transferred (or "mapped") beginning April 13, 2015, to a new fund in the new investment lineup.
1. Choose your investments to direct your future contributions to the new investment lineup. Your investment selection(s) will apply to future contributions beginning in April 2015. However, participants directing contributions to Fidelity may direct contributions to the new lineup beginning February 2, 2015.
2. Designate your beneficiaries. If you already have a beneficiary designation on file with Fidelity, it will remain unchanged. Your beneficiary designations at TIAA-CREF, VALIC or Vanguard for your current 403(b) Plan will not transfer to Fidelity. This means you'll need to designate new beneficiaries for your 403(b) Plan account at Fidelity. With Fidelity's Online Beneficiaries Service, you can designate your beneficiaries, receive instant online confirmation, and check your beneficiary information virtually any time.
3. Schedule a one-on-one consultation. Fidelity Planning and Guidance Consultants will be available on campus and can assist with the 403(b) Plan updates and help you make important decisions. To schedule an appointment, click here or call Fidelity at 1-800-642-7131.
We encourage you to take an active role with your account and choose investment options that best suit your goals, time horizon, and risk tolerance. If no investment selection is provided, your future contributions will be invested in a target date fund aligned closest to the year you turn 65. Account balances held at Fidelity and Vanguard and any mutual fund balances held at TIAA-CREF will be transferred to the new investment lineup according to the Investment Option Mapping Appendix.
Account balances held at Fidelity and Vanguard and any mutual fund balances held at TIAA-CREF will be transferred to the new investment lineup according to the Investment Option Mapping Appendix April 13, 2015. Annuities held at TIAA-CREF or VALIC will remain at TIAA-CREF or VALIC unless you initiate an individual transfer of assets (also known as a contract exchange). Upon retiring, you'll have a number of retirement plan distribution choices available to meet your investment and income needs. At that time you'll want to review these options and speak with a consultant to help you design a retirement income strategy that can help maximize your retirement savings and plan for other goals.
If you are under age 50, the IRS contribution limit is $18,000 for 2015. If you will be at least age 50 during 2015, you may defer an additional $6,000 as catch-up contributions in 2015.
Yes. This will affect all participants (current and former employees, beneficiaries, alternate payees, etc.) that have assets in the plan and all participants will receive communication detailing the transition and what they can expect.
Current beneficiary designations on file at TIAA-CREF, VALIC and Vanguard are not being transferred to Fidelity. You will need to designate your beneficiaries at Fidelity beginning February 2, 2015. Simply log on to Fidelity NetBenefits® and click on "Beneficiaries" in the About You section of Your Profile. If you do not have access to the Internet or you prefer to complete your beneficiary information by paper form, please call 1-800-343-0860.
Current contributions will continue to be directed to your selected provider. If you are not already directing contributions to Fidelity, your contributions will be directed to the new investment lineup beginning with the first paycheck in April 2015. Beginning in April, contributions will no longer be sent to TIAA-CREF, VALIC or Vanguard.
The new investment lineup will be available through Fidelity and will provide three tiers of investment choices so you can easily create an investment mix to suit your investment style and preferences. You can choose among the following tiers of investments:
Tier 1: Target Date Funds
These funds offer an all-in-one approach to simple investing. The Vanguard Target Retirement Funds 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 you get closer to retirement.
The funds are subject to the volatility of the financial markets, including the volatility of equity and fixed income investments in the United States and abroad, and may be subject to risks associated with investing in high-yield, small-cap, commodity-related, and foreign securities. Principal invested is not guaranteed at any time, including at or after the funds' target dates.
Tier 2: Core Investment Options
If you have some investment experience, yet want a carefully selected menu of choices that are monitored by Vanderbilt, these investment options may be the best alternative for you. Tier 2 investments include mutual funds across several asset classes, such as domestic and international equities, fixed and guaranteed income investments. It's up to you to decide how much risk you want in your portfolio and how to allocate your assets among the menu of core funds. As a general rule, you should periodically evaluate and rebalance your investments and retirement portfolio based on your retirement goals, risk tolerance, and time horizon.
Tier 3: Self-directed Brokerage Option
Fidelity BrokerageLink®, a self-directed brokerage account combines the convenience of your 403(b) Plan with the additional flexibility of an individual brokerage account. It gives you expanded mutual fund investment choices and the opportunity to more actively manage your retirement contributions.
If you are an investor who is willing to take on the potential for more risk and you are comfortable managing your portfolio, it could be appropriate for you. However, if you do not feel comfortable actively managing a portfolio of options beyond those offered through your plan's standard investment options, then a self-directed brokerage account may not be appropriate for you. Remember, it is always your responsibility to ensure that the options you select are consistent with your particular situation, including your goals, retirement time horizon, and risk tolerance.
For a complete description of the investment options, please refer to the Investment Options Guide under the Resources section on the home tab.
Beginning February 2, 2015, you may log on to Fidelity NetBenefits® at www.netbenefits.com/vanderbilt or call Fidelity at 1-800-343-0860, Monday through Friday from 7 a.m. to 11 p.m., Central time to speak with a representative.
You can establish your investment elections for future contributions on Fidelity NetBenefits® at www.netbenefits.com/vanderbilt or through a Fidelity representative. You will have the option to direct all or a portion of your contributions to your Fidelity BrokerageLink® account or to any other Plan investment option. You can continue to make changes to your current investment elections by contacting your current provider.
You will continue to use the Retirement Plan Election form through March 31, 2015. Beginning in April 2015, you will be able to make changes to your voluntary contributions through Fidelity NetBenefits®.
Yes, participants can invest funds in one, two, or all three tiers. A Fidelity BrokerageLink® account will need to be established for Tier 3. Most who invest in tier 1, target date funds, invest 100%, but, yes, you can invest in all three tiers.
No, the law prevents stocks and ETFs from being offered in a 403(b) plan.
Yes, the design of the Plan has not changed; Roth contributions will now be available through the Fidelity recordkeeping system.
You have a couple of options regarding your current account balance. You can review the mapping strategy and reallocate your assets with your existing investment provider to options that will map to the lineup of your choice or you can reallocate your existing balance after it has been mapped to any of the new investment options offered after April 14, 2015.
Beginning February 2, 2015, Fidelity representatives will increase their presence on campus for one-on-one guidance sessions. The number of onsite meetings is being increased to ensure you have the help you need to understand the new investment options, review your current retirement investment strategy, and establish your new elections at Fidelity.
In February and March, Fidelity will host group meetings, during which you will be able to ask questions and learn more information about the new structure. Additionally, you will continue to have access to your TIAA-CREF, VALIC and Vanguard representatives during the transition. Visit vu.edu/savingmadesimple to view the schedule of upcoming information sessions or to schedule a one-on-one session.
There are no costs associated for balances transferred to the new lineup. However, annuity investments may impose a redemption fee should you request an individual transfer to the new investment lineup. Check with your provider before making before initiating an individual transfer.
The mutual fund investments that are being affected as a result of this change will not result in any fees being charged against your account if mapped into the new core lineup. A short-term trading fee will not be charged as part of this transition. If you request a change before this transition without satisfying the required holding period, you may incur a short-term trading fee. Additional fees may apply if investments are placed in a BrokerageLink® account.
All investment options have expense ratios and other administrative or fund-specific fees that can be found in the prospectuses located on each investment providers website. Some investment options may also have redemption fees. Under the new structure, you will be able to clearly differentiate the administrative fee and the investment fee.
Fees related to each registered investment option are expressed in the form of an expense ratio and are disclosed in the fund's prospectus.
There are no fees to set up a BrokerageLink® account during February or March of 2015 and there are no ongoing fees to have a BrokerageLink® account. However, mutual funds available in the BrokerageLink® account are subject to the same types of expense and management fees associated with funds in Tier 1 and Tier 2 and some funds in the BrokerageLink® account may have short-term redemption fees associated with shares held less than the stated holding period. Please refer to the fund's prospectus for complete information on the expense ratio or any short-term redemption fees associated with a particular fund by logging on to www.netbenefits.com/vanderbilt. Also, some non-Fidelity funds may charge a transaction fee. Please refer to the fact sheet and commission schedule within the BrokerageLink® kit for a complete listing of brokerage fees.
A typical meeting with Fidelity, either in person or over the phone, will take about 45 minutes and will provide education on the upcoming changes, an understanding of what you can do with your existing Vanderbilt retirement account, and help determining if you are on track for retirement.
Yes. You can bring anyone you choose to the one-on-one guidance session.
It is best to bring all your investment account statements, including investments outside of the Vanderbilt Retirement Plan, as well as your current retirement account statement(s) and your most recent Social Security statement if available.
This change in administrative structure does not create a distributable event. Distributions from the plan are generally permitted when you reach age 59 ½, terminate your employment, or retire. Keep in mind that distributions are subject to income taxes and possibly early withdrawal penalties. You should consult your tax advisor on this subject. Please refer to the Retirement Plan Summary Plan Description for full details regarding eligible distributions.
Yes, there will be a temporary period - called a "blackout period" - when participants will not be able to make a transaction (e.g. distribution, transfers, etc.) with TIAA-CREF and Vanguard to allow for the account transfers to occur.
The blackout period for participants with balances transferring from TIAA-CREF begins at 3 p.m. Central time on April 2, 2015. This is the last day TIAA-CREF will process any transactions in your 403(b) Plan account.
The blackout period for participants with balances transferring from Vanguard begins at 3 p.m. Central time on April 8, 2015. This is the last day Vanguard will process any transactions in your 403(b) Plan account. There is no blackout period for participants who only use Fidelity.
The blackout period is expected to end the week of April 26, 2015 for both TIAA-CREF and Vanguard. At that time, participants who are eligible to take a distribution may do so through Fidelity NetBenefits®.
Distributions from accounts that remain with TIAA-CREF and VALIC will continue to be processed through the current provider. You will continue to contact them directly to obtain the paperwork for these requests. You will also continue to submit those paper forms to Vanderbilt Benefit Administration for approval.
This change in administrative structure does not change when you can take a distribution or what distribution options are available. Please refer to the Retirement Plan Summary Plan Description for full details regarding distributions.
Yes, the design of the Plan has not changed; loans will now be available through the Fidelity recordkeeping system. You will be able to have one outstanding loan at any particular time through Fidelity.
This change in administrative structure does not impact any current outstanding loans. These loans will remain at TIAA-CREF or VALIC and there will be no change in how you repay these loans.
Your current balances in the 403(b) Plan may be transferred to the new investment lineup in April 2015. How your existing balances will be affected by this transition depends on which current service provider holds your balances. Balances held at Fidelity, Vanguard and mutual fund balances held at TIAA-CREF will be transferred to the new investment lineup according to the Investment Option Mapping Appendix. Balances at VALIC and annuity balances at TIAA-CREF will not transfer unless you initiate an individual transfer of your assets into the new investment lineup.
You may direct to transfer in-kind all of your eligible Fidelity and Vanguard balances into the same fund(s) in a self-directed brokerage account. An in-kind balance transfer means your holdings will not be bought or sold; your holdings will simply transfer to your BrokerageLink account. This is a one-time transfer in-kind available for Fidelity and Vanguard eligible mutual funds only and will apply to all Plan balances. Mutual funds with institutional share classes are not offered in BrokerageLink and are not eligible for a transfer in-kind. As part of the transfer to BrokerageLink, the institutional share class may be liquidated and reinvested in the retail share class within BrokerageLink. For details, refer to the Transition Guide section titled Additional Considerations with Self-Directed Brokerage, schedule a one-on-one appointment, or call Fidelity to speak with a representative.
If you have mutual fund investments with Fidelity, Vanguard, and/or TIAA-CREF, these will be mapped to the new investment lineup at Fidelity.
If you have annuity investments with TIAA-CREF and /or VALIC these will remain with TIAA-CREF and/or VALIC unless you take action and request that they be transferred. We strongly advise that you meet with a TIAA-CREF or VALIC representative prior to making the transfer request to review any fees or restrictions that may apply.
Your TIAA-CREF and/or VALIC annuity account balances will remain with TIAA-CREF and/or VALIC. You will continue to receive an account statement for any balance remaining. If you currently have contributions directed to TIAA-CREF and/or VALIC annuities, your future contributions will be directed to the new investment lineup according to the investment election that you make. If no investment election is provided, your future contributions will be invested in a target date fund aligned closest to the year you turn 65.
Before investing in any mutual fund, please carefully consider the investment objectives, risks, charges, and expenses. For this and other information, call Fidelity at 1-800-343-0860 or visit www.fidelity.com for a free prospectus or a summary prospectus (if available). Read it carefully before you invest.
Although consultations are provided one-on-one, it is educational in nature, is not individualized and is not intended to serve as the primary or sole basis for your investment or tax-planning decisions.
Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917
Fidelity will present Plan transition workshops.
Fidelity Planning and Guidance Consultants will continue to be available for one-on-one in person consultations or by phone. To view a schedule of available appointments or to schedule your appointment, click here or call Fidelity at 1-800-642-7131. During the one-on-one consultation, you learn more about Plan updates and how they will affect you, get help making an investment choice from the new investment lineup or initiate an individual transfer of assets (also known as a contract exchange). We recommend you discuss your current annuity investments with a TIAA-CREF or VALIC representative before making final decisions regarding an individual transfer of assets for an annuity.
Simply follow the step-by step instructions. If you are a current Fidelity customer and already have a username and a password, you can use them to access your Plan accounts in Fidelity NetBenefits®.
You can do both on the Your Profile tab to ensure you receive important transition updates the way you prefer.
Your beneficiary designation will not transfer from TIAA-CREF, VALIC or Vanguard, so you will need to designate your beneficiary online for each Plan account. Simply click "Beneficiaries" in the About You section of Your Profile. If you do not have access to the Internet or prefer to complete your beneficiary information using a paper form, please contact Fidelity at 1-800- 343-0860.
In Fidelity NetBenefits®, you can change your investment options.
Get details on all your investments, including account statements, current prices and historical performance. Fidelity also provides many tools and calculators to help you create a successful savings and retirement strategy
Before investing in any mutual fund, please carefully consider the investment objectives, risks, charges, and expenses. For this and other information, call Fidelity at 1-800-343-0860 or visit www.fidelity.com for a free prospectus or a summary prospectus (if available). Read it carefully before you invest.
Although consultations are provided one-on-one, it is educational in nature, is not individualized and is not intended to serve as the primary or sole basis for your investment or tax-planning decisions.
Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917