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Retirement Plan Enhancements

IU is taking steps to enhance the Indiana University retirement plans for participants. To ensure that the IU retirement plans are continuing to meet industry best standards in a changing environment, the university has engaged Aon Hewitt Consulting (Aon) to assist it in conducting a comprehensive review of the service providers and investment offerings under the IU retirement plans. The goals of this review are to improve the services offered to participants under the plans, ensure that the best investment options are available for IU employees and retirees, and secure the most competitive administrative and investment fees under the plans available.

IU intends to issue a request for proposal (RFP) for IU retirement plan service providers in the coming weeks. Both TIAA and Fidelity will be invited to participate in this RFP. It is expected that any changes made to service providers and/or investment options as a result of the RFP will not be effective earlier than January 1, 2020.

Resources

Why Undertake This Review

IU is undertaking this review to improve the IU retirement plans for the benefit of retired and active participants by:

  • ensuring participant fees and expenses are competitive
  • simplifying investment choices for retirement savings
  • providing access to best in class investment options
  • adding additional investment flexibility
  • enhancing retirement planning guidance and tools

What Won’t Change

This review does not include the design of the IU retirement plans.  None of the following will be changing:  

  • terms of eligibility
  • level of employer contributions
  • vesting requirements for employer contributions
  • PERF
  • 18/20, the IU Supplemental Early Retirement Plan (IUSERP), or the IU Replacement Retirement Plan

What May Change

At the conclusion of this review, the IU retirement plans may change in one or more of the following ways:  

  • new service provider or providers
  • reduced administrative and investment fees
  • different or additional best in class investment options  
  • new or modified administrative and recordkeeping fee allocation methods
  • addition of new options to retirement plans, which may include:
    • Roth contributions
    • self-directed brokerage window
    • rollover options to supplemental plans
    • additional retirement planning guidance and tools

Learn More

Employees are encouraged to attend an information session or webinar to learn more about the RFP process and enhancements to the IU retirement plans.

October
October 22, 2018
10:00 a.m. & 2:00 p.m.
Retirement RFP Information Session Poplars W100
October 23, 2018
10:00 a.m. & 2:00 p.m.
Retirement RFP Information Session Campus Center–Room 409
October 26, 2018
12:30 p.m.
Retirement RFP Webinar Connection Information
October 29, 2018
9:30 a.m. & 1:30 p.m. (CST)
IU Northwest Open Enrollment Information Session* Savannah Center–Bergland Auditorium
October 30, 2018
10:00 a.m. & 1:00 p.m.
IU South Bend Open Enrollment Information Session* Student Activity Center–Room 225
November
November 1, 2018
12:00 p.m.
IUPUI Health & Benefits Fair Campus Center
Room 305
November 2, 2018
2:00 p.m.
IU Kokomo Open Enrollment Information Session* Kelley Student Center–KC 130
November 5, 2018
10:00 a.m. & 1:00 p.m.
IU Southeast Open Enrollment Information Session* University Center North–Room 127
November 6, 2018
10:00 a.m. & 1:00 p.m.
IU East Open Enrollment Information Session* Whitewater Hall Community Room
November 7, 2018
12:30 p.m.
IU Bloomington Health & Benefits Fair IMU–Oak Room

*Not a dedicated session on the Retirement RFP process. Hear about Open Enrollment changes and the RFP Process in the same session.