Retirement Plan Enhancements
Steps to Take

During the Early Choice Election Window (November 11 – December 17, 2019), all participants have the opportunity to decide how their existing IU retirement plan mutual fund balances and future contributions will be allocated to the new investment menu in January 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.

Remember, TIAA and Fidelity mutual funds will automatically move to the new investment menu based on Early Choice Election Window selections. TIAA and/or CREF annuities, however, will remain at TIAA unless the participant choose to move them. This can be done at any time—there is no rush, time limit, or requirement to move these annuities.

Unsure of where to start or how to have your questions answered? Review the scenarios below to learn about steps that you need to take, if any, and to see resources that are applicable to you.

Download this information as a chart here: Action Steps & Resources Chart (PDF).

I have a general question

I have a general question for Fidelity or TIAA

For general questions, contact Fidelity and/or TIAA’s customer service centers at the following numbers:

I didn’t receive a Transition Brochure in the mail

All of the documents in the mailer are available for download at the links below.

Resources:

I am interested in attending a webinar

Review the schedule of webinars.

Resources:

I wish to speak to a Fidelity Retirement Planner for a 1:1 consultation

  • Use the online scheduling tool or call 800-642-7131 to make an in-person appointment. Many appointments are booked, so look at a wide range of dates and locations.
  • Unable to find an in-person appointment or need evening options? Retirement Planners are available for phone-based consultations between 8am and 9pm ET, Monday–Friday, by calling 800-328-6608.

Resources:
Schedule an in-person 1:1 consultation using the Online Scheduling Tool or by calling 800-642-7131. Call a Retirement Planner (1:1 consultation over the phone) at 800-328-6608.

I’m ready to make my new investment elections for my transferring mutual fund balances and future contributions in January 2020

Download and follow the step-by-step Early Choice Election Window Instructions to register or login to your NetBenefits® account and make your Early Choice Elections.

Resources:

My existing investments are at Fidelity

Note: all current Fidelity participants are invested in mutual funds, which will all transition to the new investment menu in January.

I am invested in Fidelity mutual funds and wish to move to the new investment menu

  • Select your new investments during the Early Choice Election Window (November 11- December 17, 2019) to direct how your current retirement plan assets and future payroll contributions will be invested. Step-by-step instructions are available for download.
  • If no election is made during the Early Choice Election Window, your existing mutual funds and future payroll contributions will be invested in a Vanguard Institutional Target Retirement Date Fund based on the date closest to when you turn 65.
  • All contributions (yours and IU’s) after December 17, 2019, will be directed to your new investment choices with Fidelity.
  • Your existing mutual fund balances will transfer into the new investment options you selected at the close of business on December 31, 2019.

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I am invested in Fidelity mutual funds, and wish to keep my existing funds, but do not have a BrokerageLink® account

  • Keep your existing Fidelity mutual funds by opening a Fidelity BrokerageLink® account by December 9, 2019.
  • Log on to NetBenefits.com/Indiana and select BrokerageLink® from the Quick Links drop-down menu next to the plan(s) you wish to transfer to the BrokerageLink® and follow the steps to open an account.
  • Your existing mutual funds will transfer in-kind to your BrokerageLink® account on December 31, 2019.

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I have a Fidelity BrokerageLink® account and wish to keep my existing Fidelity mutual funds

Do nothing. Your Fidelity mutual funds will transfer in-kind without having to open an account, and any funds that are currently in your BrokerageLink® account will remain without unchanged.

I have a Fidelity BrokerageLink® account but prefer to move into the new investment menu

  • Call Fidelity to have your BrokerageLink® account closed before December 9, 2019.
  • Then, be sure to select your future investment choices during the Early Choice Election Window (November 11 – December 17, 2019) by following the step-by-step instructions.
  • If no election is made during the Early Choice Window, and you close your BrokerageLink® account before December 9, 2019, your current assets and future payroll contributions will be invested in a Vanguard Institutional Target Retirement Date Fund based on the date closest to when you turn 65.
  • Your existing mutual fund investments will transfer into the new investment options you selected at the close of business on December 31, 2019 and will be invested as of January 2, 2020.

Resources

My existing investments are at TIAA

Note: if you have TIAA annuity accounts, those will NOT automatically transfer. See the information for TIAA annuities in the section below.

I am invested in TIAA mutual funds and wish to move my mutual funds to the new investment menu

  • Select your future investment choices during the Early Choice Election Window (November 11- December 17, 2019) by following the step-by-step instructions.
  • If no election is made, your current investments and future payroll contributions will be invested in the Vanguard Institutional Target Retirement Date Fund based on the date closest to when you turn 65.
  • All contributions (yours and IU’s) after December 23, 2019, will be directed to your new investment choices with Fidelity.
  • Your mutual fund account balance will be valued at the close of business on Friday, January 3, 2020, and transferred to your selected investment options at Fidelity on Monday, January 6, 2020.

Resources

I am invested in TIAA annuities and wish to keep my annuity accounts at TIAA

For Current Assets Invested in TIAA Annuities:

  • Current assets in TIAA annuities will remain at TIAA unless you voluntarily choose to move them.
  • To keep those annuity accounts at TIAA, you do not need to take any action. Simply leave them as they are and they will not move.

For Current Assets Invested in TIAA Mutual Funds:

  • If you want to keep your TIAA mutual funds at TIAA, you need to move your mutual fund assets into a TIAA annuity account before December 23, 2019. It is suggested you consult TIAA to understand what options are best and any account restrictions before you make a decision that is irrevocable.

For Future Contributions:

  • Future contributions, however, will be directed to the new investment menu at Fidelity beginning December 23, 2019 even if you leave your previous balances at TIAA. You can select your future investment choices during the Early Choice Election Window (November 11- December 17, 2019) by following the step-by-step instructions.
  • If no election is made, all future payroll contributions will be invested in the Vanguard Institutional Target Retirement Date Fund based on the date closest to when you turn 65.
  • All contributions (yours and IU’s) after December 23, 2019, will be directed to your new investment choices with Fidelity.

Resources

I am invested in TIAA annuities and wish to move to the new investment menu

Current Assets Invested in TIAA Annuities:

  • Contact TIAA to discuss any ramifications of withdrawing your funds, including any withdrawal restrictions you may face.
  • To move your annuity balances, you have several options:
    • For annuities that are liquid, you can move those balances into TIAA mutual funds before December 23, 2019. By doing so, all of those assets in mutual funds will automatically move to the new investment menu at Fidelity in January.
    • If you want additional time to consider your options, that is okay. There is no rush or time limit to move these annuities. You can contact Fidelity to begin the process of transferring your annuities at any time now or in the future. There are paper forms you will need to complete, but Fidelity can help you complete them.

Future Contributions:

  • You can select your future investment choices (for future contributions) during the Early Choice Election Window (November 11- December 17, 2019) by following the step-by-step instructions.
  • If no election is made, any current TIAA mutual fund investments and future payroll contributions will be invested in the Vanguard Institutional Target Retirement Date Fund based on the date closest to when you turn 65.
  • All contributions (yours and IU’s) after December 23, 2019, will be directed to your new investment choices with Fidelity.

Resources

I am invested in TIAA mutual funds and wish to invest in funds outside of the new IU investment menu

  • Not all TIAA mutual funds are available in Fidelity BrokerageLink®, but there are over 10,000 mutual funds to choose from. Review the BrokerageLink® Fund Options by following the Fund Options Evaluator Tool link to determine if any are right for you.
  • Open a Fidelity BrokerageLink® account by logging on to NetBenefits.com/Indiana and selecting BrokerageLink® from the Quick Links drop-down menu next to the plan name and follow the steps to open an account(s).
  • Existing mutual funds at TIAA cannot go straight to BrokerageLink®. They must move into the new investment menu until the Blackout Period is lifted (week of January 19, 2020). Because of this, you will need to select where your funds will be invested during the Early Choice Election Window (November 11- December 17, 2019) by following the step-by-step instructions.
  • If no election is made, your current investments and future payroll contributions will be invested in the Vanguard Institutional Target Retirement Date Fund based on the date closest to when you turn 65.
  • Beginning January 2, 2020, you may direct future contributions (yours and IU’s) directly to your BrokerageLink® account.
  • Your currnet mutual fund balances will be valued at the close of business on Friday, January 3, 2020, and transferred to your selected investment options at Fidelity on Monday, January 6, 2020.
  • When the blackout period is lifted (week of January 19, 2020), you can transfer your current mutual fund balances from the new investment menu into your BrokerageLink® account as well.

Resources

I'm having trouble with NetBenefits

NetBenefits does not recognize my personal information or a NetBenefits account has not been set up for me.

Contact IU Human Resources.

Resources:

  • Call 812-856-1234 or email

I am receiving an error message during or after I make my new investment elections in NetBenefits.

  • First try logging out and clearing your cache. Then try to make your election again.
  • Be sure you are following the Early Choice Election Window Instructions carefully. These instructions were updated recently to provide more thorough step-by-step directions.
  • If you are still receiving an error, contact Fidelity at 800-343-0860.

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I'm a retiree or former employee

I am a retiree or former employee

You have the following options for your vested account balances:

  • Leave your retirement savings in the IU retirement plans to take advantage of the new investment menu (follow the instructions below for current Fidelity and/or TIAA participants).
  • Rollover all or a portion of your vested balances into an Individual Retirement Account (IRA) or another employer’s retirement plan (if allowed by your new employer).
  • Request a taxable distribution of all or a portion of your vested account balance. To get started contact your retirement investment vendor directly (TIAA or Fidelity).

Resources

I am receiving RMD/SWP payments from TIAA

  • If 100% of your money is in mutual funds at TIAA and moving to Fidelity, then your RMD, SWP, EFT info will move to Fidelity and no action is required. Payments scheduled to go out during the blackout period will be advanced and sent by TIAA prior to the blackout. Subsequent payments will remain on the regular schedule and be disbursed by Fidelity.
  • If you have annuities, then your RMD/SWP payments at TIAA will remain at TIAA and continue as usual redeeming from your annuity balances. Payments scheduled to go out during the blackout period will be advanced and sent by TIAA prior to the blackout. Subsequent payments will remain on the regular schedule and disbursed by TIAA.

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I am receiving RMD/SWP payments from Fidelity

If you are receiving RMD or SWP payments from Fidelity, they will continue as normal. The blackout period will not impact these payments.

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