Changes and Enhancements to IU Retirement Plans

The information on this site applies to the IU Retirement Plan, IU Retirement & Savings Plan, Tax Deferred Account (TDA), 457(b) Plan, and IU SERP.

How the Transition Will Work

Visit the Transition Details page for important resources and information for current TIAA and Fidelity participants

Transition Details

What Changes are Coming?

In the fall of 2018, Indiana University initiated a comprehensive review of the IU retirement plans to ensure that they continue to meet industry best standards in a changing environment. The review was conducted by the university’s Retirement Investment Committee, which is comprised of administrative staff and faculty representatives who are tasked with the responsibility of overseeing the IU retirement plans for the exclusive benefit of participants. As part of this review, the committee issued a formal request for proposal (RFP) to evaluate administrative recordkeeping services for the plans. After an exhaustive review and evaluation of the responses, we are pleased to announce that the process is complete.

The following changes are being introduced, effective January 1, 2020:

  • Fidelity will be the sole recordkeeper for the IU retirement plans.
  • New reduced fees under the IU retirement plans will be more transparent.
  • A new streamlined investment menu will be offered. A self-directed brokerage window will also be available for investors who want access to additional options.
  • Rollovers from other plans or IRAs will be permitted into the TDA and 457(b) Plan.
  • Roth contributions will be permitted to the TDA and 457(b) Plan.

How the Transition Will Work

Retirement plan participants will have the opportunity to select their future investment elections from the new investment menu during Fidelity’s Early Choice Window from November 11 – December 17, 2019 at 4 p.m. ET. Choices made during this window will be applicable to transferring balances and future contributions beginning on January 1, 2020. If no election is made during this window, current investments and future payroll contributions will be invested in a Vanguard Institutional Target Retirement Date Fund based upon the date closest to when you reach age 65.

Visit the Transition Details page for detailed information and resources for current TIAA and Fidelity participants.

Key Dates & Actions to Take

Review the full timeline in the Transition Guide (PDF).

September – October 2019

  • Review Fidelity’s Transition Website for important information regarding the transition, key dates, and actions you need to take.
  • Review the Transition Details page to learn how the transition will affect your current investments with TIAA and Fidelity.
  • Review the new streamlined investment menu.
  • Review the Fidelity Transition Guide (PDF). This guide from Fidelity will explain the enhancements in detail, outline key dates, and help you understand what actions (if any) you need to take.
  • Review email communications from IU and Fidelity. Updates and information on the transition will be sent to your IU email address, so be sure to review all communications from IU and Fidelity thoroughly.

October – December 2019

Meet with a Fidelity representative for an individual financial consultation and assistance. On-site education seminars, webinars, and an expanded calendar of individual financial consultations with representatives from Fidelity will be offered at every IU campus. Information will also be available during Open Enrollment presentations at each IU campus. Visit Fidelity’s meeting page to learn more.

November 11 – December 17, 2019 at 4 p.m. ET

Early Choice Election Window. Retirement plan participants will be able to select their future investment elections from the new investment menu during Fidelity’s Early Choice Window. The investment choices you make during this time will be effective for your current account balances, as well as for future payroll contributions beginning in January 2020. If no election is made during this window, current investments and future payroll contributions will be invested in the Vanguard Institutional Target Retirement Date Fund, based upon the date closest to when you reach age 65.

To make your Early Choice Election, call Fidelity at 800-343-0860 or log on to NetBenefits® at NetBenefits.com/Indiana and follow the instructions in the Early Choice Window Instructions (PDF).

December 23, 2019 at 4 p.m. ET

Blackout Period Begins
(for accounts currently at TIAA only)

During the Blackout Period you cannot change your investments, request a loan or distribution, or check your account balance. The blackout period is necessary to provide for an accurate transition of your current account with TIAA to your account at Fidelity.

All assets at TIAA are subject to the blackout period, even those that will not be transferred to Fidelity.

December 31, 2019 at 4 p.m. ET

For existing Fidelity accounts only: Your existing mutual fund investments will transfer into the options you selected during the Early Choice Election Window, or will default into a Vanguard Institutional Target Retirement Date fund (based on the date closest to when you turn age 65).

Friday, January 3, 2020 at 4 p.m. ET

For accounts currently at TIAA only: Your existing mutual fund account balance will be valued at the close of business. Your existing TIAA-CREF annuity contracts will not be transferred to Fidelity unless you voluntarily choose to move them to the new investment menu.

Monday, January 6, 2020

For accounts currently at TIAA only: Your applicable mutual fund account balance is scheduled to transfer to the new investment options at Fidelity based on your choices selected during the Early Choice Election Window or will default into a Vanguard Institutional Target Retirement Date fund (based on the date closest to when you turn age 65).

Week of January 19, 2020

Blackout Period Ends
(for accounts currently at TIAA only)

The blackout period is expected to end during this week, and the Fidelity Retirement Service Center and NetBenefits website will open for all Plan services. You will be notified when the blackout period has ended and you can:

  • Visit NetBenefits.com/Indiana to set up your username and password. On NetBenefits you can review your account balances, change your investments, request changes to your account, request a loan or distribution, and more.
  • Assign your beneficiaries. Remember, your beneficiary designation will NOT transfer from TIAA to Fidelity.

No Longer at IU?

If you are a Retiree, former employee, or a beneficiary and have an account balance in an IU retirement plan, the upcoming enhancements may affect you even if you are now retired or no longer employed by IU. Learn more about your options and actions you need to take.

Where Can I Get Help?

On-site education seminars, webinars, and an expanded calendar of individual financial consultations with Fidelity representatives will be offered at every IU campus. Visit Fidelity’s meeting page to learn more.