Announcements & Features:
tiaa-cref fund changes and enhancements
Effective May 20, 2011, TIAA-CREF will transfer allocations in the Vanguard funds to funds in a new lower-cost Vanguard Share Class. The replacement fund investment strategies are similar to those of the current funds; however the new funds are offered at a lower fund management fee. Lower fund management fees charged by the investment company results in more money staying in each individual’s retirement savings account, which gives account balances more earning potential as each participant keeps a higher percentage of the returns generated by the funds in their portfolio.
If you are currently enrolled in Vanguard funds, TIAA-CREF will transfer the funds in your account to the new lower-cost Vanguard Share Class funds automatically; no action is required. TIAA-CREF will send letters about the transfer to individuals impacted by the change, and they will send a confirmation of the transfers once they have taken place. The transfers will also appear on your quarterly statement from TIAA-CREF.
In addition, three new TIAA-CREF funds are being added to the investment choices:
- TIAA-CREF Emerging Markets Equity Fund
- TIAA-CREF Emerging Markets Equity Index Fund
- TIAA Stable Value
TIAA-CREF will send additional information about these new fund choices, which will be available for investment after May 20, 2011.
For more information about these new investment options or to discuss your current investment allocation strategy, call TIAA-CREF at 800-842-2252.
For more information on the U-M Retirement Savings Plan, go to: benefits.umich.edu/plans/retire