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.
As previously announced, beginning in January 2020, Fidelity Investments will become the service provider for the IU retirement plans. This site describes the changes and enhancements that are coming to the plans, as well as key dates, actions you may need to take, and information on how to connect with Fidelity to receive investment and retirement planning advice. For additional information, you can also visit Fidelity’s dedicated transition site. To get started, visit the links under Step 1: Learn About the Transition below.
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.
What Will Stay the Same?
There will be no changes to these plans:
- Public Employees’ Retiremnt Fund (PERF)
- IU 18/20 Plan
- IU Replacement Retirement Plan
- IU Phased Retirement Plan
Key aspects of IU’s retirement plans will remain the same:
- IU’s contributions to your retirement plan accounts
- Number and types of retirement plans
- Your payroll contributions
- Vesting requirements
- If you have a loan, there will be no change to your loan repayments
STEP 1: Learn About the Transition
STEP 2: Meet with Fidelity
One-on-one consultations are also available over the phone. To speak to a Fidelity Retirement Planner call 800-328-6608.
STEP 3: Select Your New Investments
On-site education seminars, webinars, and an expanded calendar of individual financial consultations with Fidelity representatives will be offered at every IU campus. Visit the links below for details:
- Seminars (PDF)
- Webinars (PDF)
- Schedule a one-on-one appointment with a Retirement Planner at getguidance.fidelity.com; by calling 800-642-7131; or by texting MeetAtIU to 343-898.
- Call 800-328-6608 to speak to a Retirement Planner over the phone.
- For general questions, call Fidelity Customer Service at 800-343-0860.