Benefits Plans - Retirement Savings Plans: new investment funds

TIAA-CREF Funds Affected

The TIAA-CREF mutual funds will be transitioned from the current Retirement Class to the Institutional Class on the evening of September 10, 2010.  The chart lists the expense ratio under the current Retirement Class and the new reduced fee under the Institutional Class.  The Institutional Class of funds charges 25 basis point (¼ of a percent) less in management fees and expenses than the Retirement Class. 

The CREF variable annuities (CREF Stock, CREF Social Choice, etc.), TIAA Traditional, and TIAA Real Estate funds are not being affected by this change in share class.

For answers to frequently asked questions about the new TIAA-CREF funds, refer to the FAQs on the TIAA-CREF site for University of Michigan participants at http://enroll.tiaa-cref.org/umich/.

Indexed Mutual Funds

Current
Retirement Class

New
Institutional Class

Fund Name

Ticker Symbol

Expense Ratio %

Ticker Symbol

Expense Ratio %

TIAA-CREF Equity Index Fund

TIQRX

0.34

TIEIX

0.09

TIAA-CREF International Equity Index Fund

TRIEX

0.41

TCIEX

0.16

TIAA-CREF Large-Cap Growth Index Fund

TRIRX

0.34

TILIX

0.09

TIAA-CREF Large-Cap Value Index Fund

TRCVX

0.34

TILVX

0.09

TIAA-CREF Small-Cap Blend Index Fund

TRBIX

0.40

TISBX

0.15

TIAA-CREF 500 Index Fund

TRSPX

0.34

TISPX

0.09

 

Remaining Mutual Funds

Current
Retirement Class

New
Institutional Class

Fund Name

Ticker Symbol

Expense Ratio %

Ticker Symbol

Expense Ratio %

TIAA-CREF Bond Fund

TIDRX

0.60

TIBDX

0.35

TIAA-CREF Bond Plus Fund

TCBRX

0.60

TIBFX

0.35

TIAA-CREF Growth & Income Fund

TRGIX

0.77

TIGRX

0.52

TIAA-CREF High-Yield Fund

TIHRX

0.65

TIHYX

0.40

TIAA-CREF Inflation Link Bond Fund

TIKRX

0.59

TIILX

0.34

TIAA-CREF International Equity Fund

TRERX

0.84

TIIEX

0.59

TIAA-CREF Large-Cap Growth Fund

TILRX

0.77

TILGX

0.52

TIAA-CREF Large-Cap Value Fund

TRLCX

0.77

TRLIX

0.52

TIAA-CREF Managed Allocation Fund

TITRX

0.68

TIMIX

0.43

TIAA-CREF Mid-Cap Growth Fund

TRGMX

0.79

TRPWX

0.54

TIAA-CREF Mid-Cap Value Fund

TRVRX

0.81

TIMVX

0.56

TIAA-CREF Money Market Fund

TIEXX

0.40

TCIXX

0.15

TIAA-CREF Real Estate Securities Fund

TRRSX

0.84

TIREX

0.59

TIAA-CREF Small-Cap Equity Fund

TRSEX

0.84

TISEX

0.59

TIAA-CREF Short Term Bond Fund

TISRX

0.55

TISIX

0.30

TIAA-CREF Social Choice Equity Fund

TRSCX

0.47

TISCX

0.22

Transition of Lifecycle Funds to Lifecycle Index Funds

TIAA-CREF Lifecycle Funds will be transitioned to the Lifecycle Index Funds, which are also being offered under the Institutional Class.  The portfolios of the Lifecycle Index Funds consist of index mutual funds, which use a passive investment strategy that aims to replicate the movements of a specific benchmark that are held constant, regardless of market conditions.  Using underlying index funds within the Lifecycle Index portfolios is a lower cost option to meet your retirement goals than the current family of Lifecycle Funds.

Current - Retirement Class

New - Institutional Class

Fund Name

Ticker Symbol

Expense Ratio %

Fund Name

Ticker Symbol

Expense Ratio %

TIAA-CREF Lifecycle 2010 Fund

TCLEX

0.65

TIAA-CREF Lifecycle Index 2010 Fund

TLTIX

0.20

TIAA-CREF Lifecycle 2015 Fund

TCLIX

0.67

TIAA-CREF Lifecycle Index 2015 Fund

TLFIX

0.19

TIAA-CREF Lifecycle 2020 Fund

TCLTX

0.67

TIAA-CREF Lifecycle Index 2020 Fund

TLWIX

0.20

TIAA-CREF Lifecycle 2025 Fund

TCLFX

0.69

TIAA-CREF Lifecycle Index 2025 Fund

TLQIX

0.19

TIAA-CREF Lifecycle 2030 Fund

TCLNX

0.71

TIAA-CREF Lifecycle Index 2030 Fund

TLHIX

0.19

TIAA-CREF Lifecycle 2035 Fund

TCLRX

0.72

TIAA-CREF Lifecycle Index 2035 Fund

TLYIX

0.19

TIAA-CREF Lifecycle 2040 Fund

TCLOX

0.72

TIAA-CREF Lifecycle Index 2040 Fund

TLZIX

0.19

TIAA-CREF Lifecycle 2045 Fund

TTFRX

0.72

TIAA-CREF Lifecycle Index 2045 Fund

TLXIX

0.19

TIAA-CREF Lifecycle 2050 Fund

TLFRX

0.71

TIAA-CREF Lifecycle Index 2050 Fund

TLLIX

0.19

TIAA-CREF Lifecycle Retirement Income Fund

TLIRX

0.65

TIAA-CREF Lifecycle Index Retirement Income Fund

TRILX

0.21

 

Next: Fidelity Funds Affected

Return to New Funds Home

Limitations
The University of Michigan in its sole discretion may modify, amend, or terminate the benefits provided with respect to any individual receiving benefits, including active employees, retirees, and their dependents. Although the university has elected to provide these benefits this year, no individual has a vested right to any of the benefits provided. Nothing in these materials gives any individual the right to continued benefits beyond the time the university modifies, amends, or terminates the benefit. Anyone seeking or accepting any of the benefits provided will be deemed to have accepted the terms of the benefits programs and the university's right to modify, amend or terminate them.