Updating 403 b custodial agreements

Posted by / 08-Jul-2019 09:15

To help reduce risk as the fund’s target date approaches, the fund’s mix of stocks, bonds and other types of investments is adjusted to a more conservative mix.

As with all mutual funds, the principal value of a lifecycle fund isn’t guaranteed and will fluctuate with market changes.

Again, though, you will not be able to do so until the [email protected] platform is available.

Prior to the launch of the [email protected] platform, you can change your investment selections with TIAA or Fidelity in the same way that you do today by visiting each provider’s site or by calling Customer Service at either Fidelity or TIAA.

The underlying fees charged by the fund can reduce the published returns.

The overall expense ratio of the ORP, 403(b) and Cash Match plans will on average be lower on an aggregated plan basis with the new plan setup.

One of the exciting changes that we are making is that existing employees will be able to select from both the TIAA and Fidelity investment platforms.

In addition, the new TIAA investment platform will include a lineup of many new investment choices, some from TIAA, and others from a wide variety of other mutual fund companies.

All mutual funds have expenses and other fees that can be found in the prospectuses for each fund, available by searching the NYSE tickers on or The new investment choices on the TIAA platform for existing TIAA customers will take effect on January 1, 2018.However, TIAA customers will not be able to add Fidelity as an investment provider, and Fidelity customers will not be able to add TIAA as an investment provider until January 30, 2018. If you are contributing to a fund that will not be included in the new investment fund lineup with TIAA or Fidelity, you may not keep contributing new monies into this fund after January 1, 2018.In summary: (1) We are changing the investment options that are available to employees in the 403(b) and Cash Match Provide Plans so that the investment choices with TIAA and Fidelity in these plans are the same as the investment choices in the ORP; and (2) Permitting employees hired prior to 1/1/2018 to select from investment options with both TIAA and Fidelity.(In the past, employees had to select funds with either TIAA or Fidelity but could not select from both.) If you are a TIAA customer, TIAA will issue a new TIAA contract to you in early December 2017.

updating 403 b custodial agreements-8updating 403 b custodial agreements-49updating 403 b custodial agreements-40

Beginning January 1, 2018, TIAA will be the only record keeper choice available to new employees.

One thought on “updating 403 b custodial agreements”