Get a head start on your future. A step-by-step guide to the coming University of Dallas Retirement Program changes

Transcription

1 Get a head start on your future. A step-by-step guide to the coming University of Dallas Retirement Program changes

2 Table of Contents Be prepared for the changes ahead 1 Your new investment menu 2 Investment transfer strategy 3 Get retirement plan investment advice 6 Get to know TIAA-CREF 7 Q&A 9 We re here to help Back cover

3 Be prepared for the changes ahead. What to expect... University of Dallas is introducing new investment options. See page 3. University of Dallas is adding new Retirement Choice (RC) and Retirement Choice Plus (RCP) contracts through TIAA-CREF. You will be automatically enrolled in the new TIAA-CREF Retirement Choice (RC) and Retirement Choice Plus (RCP) contracts for all contributions made after October 1, These contracts will continue to provide flexibility, offer a wide range of investment options and allow University of Dallas to meet its regulatory responsibilities. Existing mutual fund investments will automatically be moved to the new mutual funds as described in the mapping strategy on page 4 during the week ending October 30, The default investment for the University of Dallas Retirement Plan is changing to the American Century One Choice Target Date Funds on October 1, Action plan for the changes 1. Be informed Visit for information on the changes, including a current schedule for on-campus events. Review the new investment options, along with replacements for your current investments and determine your investment strategy. Attend a Retirement Information Meeting. Once the change is completed, you can schedule a One-on-One Advice Session with a TIAA-CREF Financial Consultant to get personalized retirement plan advice. Review your beneficiary designation and update if necessary. 2. Take action The changes will be completed on or about October 1, Once you receive your Welcome Kit, you can make investment allocation and beneficiary designation changes. You will receive assistance updating your account when you schedule a One-on-One Advice Session. Retirement plan changes start October 1, Key dates Week of August 17, 2015 August 21 and 28, a.m. and 2 p.m. Enrollment confirmation is sent to you with important information on making the most of your new plan options. You can now access and make changes to your account. On-site Retirement Information Meetings. September 1, a.m. and 4 p.m. October 1, 2015 On or about the week ending October 30, 2015 Plan changes take effect. Any payroll contributions after October 1, 2015, will be directed to the new investment menu. Existing mutual fund account balances will be moved to the new mutual funds as described in the mapping strategy on page 4. Questions? Call or visit 1

4 University of Dallas Defined Contribution Retirement Plan new investment menu Annuity account options are available through annuity contracts issued by TIAA or CREF. These contracts are designed for retirement or other long-term goals, and offer a variety of income options, including lifetime income. Payments from the variable annuity accounts are not guaranteed and will rise or fall based on investment performance. On or about October 1, 2015, you can begin investing in the plan s new investment options. These new choices may offer you flexibility to create a retirement portfolio that s aligned with your investment preferences and goals. You can see details about the new investment options online at Click on Plans and Investments and then select Investment Choices to view the individual investment information. * TIAA Traditional Annuity is a guaranteed insurance contract and not an investment for Federal Securities Law purposes. Any guarantees under annuities issued by TIAA are subject to TIAA s claims-paying ability. GUARANTEED TIAA Traditional Annuity* MONEY MARKET CREF Money Market Account (R2) FIXED INCOME (BONDS) American Funds U.S. Government Securities Fund Class R-4 Ivy Bond Fund Class Y PIMCO Foreign Bond (Unhedged) Fund Class A PIMCO Real Return Fund Class A MULTI-ASSET American Century One Choice 2020 A American Century One Choice 2025 A American Century One Choice 2030 A American Century One Choice 2035 A American Century One Choice 2040 A American Century One Choice 2045 A American Century One Choice 2050 A American Century One Choice 2055 A American Century One Choice In Ret A Putnam Capital Spectrum Fund Class A CREF Social Choice Account (R2) REAL ESTATE TIAA Real Estate Account EQUITIES (STOCKS) American Beacon Small Cap Value Fund Advisor Class American Century Real Estate Fund A Class American Funds New Perspective Fund Class R-3 American Funds New World Fund Class R-1 American Funds Washington Mutual Investors Fund Class R-3 Columbia Mid Cap Index Fund Class A Franklin Small Cap Growth Fund Class A Janus Enterprise Fund Class S Janus Global Real Estate Fund Class A MassMutual Select Growth Opportunities Fund Class R4 MFS International Diversification Fund Class R3 MFS Mid Cap Value Fund Class R3 Oppenheimer International Growth Fund Class A Parnassus Core Equity Fund - Investor Shares TIAA-CREF International Equity Index Fund (Retirement) TIAA-CREF S&P 500 Index Fund (Retirement) TIAA-CREF Small-Cap Blend Index Fund (Retirement) TICKER SYMBOL Guaranteed Annuity TICKER SYMBOL QCMMPX TICKER SYMBOL RGVEX IBOYX PFUAX PRTNX TICKER SYMBOL ARBMX ARWAX ARCMX ARYAX ARDMX AROAX ARFMX AREMX ARTAX PVSAX QCSCPX TICKER SYMBOL QREARX TICKER SYMBOL AASSX AREEX RNPCX RNWCX RWMCX NTIAX FSGRX JGRTX JERAX MMGFX MDIHX MVCHX OIGAX PRBLX TRIEX TRSPX TRBIX 2 Questions? Call or visit

5 How your future contributions will transfer to the new options During the week of August 17, 2015, you will receive a Welcome Kit with information about the new contracts. These contracts will receive all contributions made on or after October 1, Your current contracts will be closed to new contributions. After you receive your Welcome Kit, you may update your allocation of future contributions to any one or combination of the options on the new investment menu. We also encourage you to take a moment to review and update your beneficiary information. If you take no action, any future contributions will be automatically redirected to the replacement funds as listed on the following page. Your existing balances will transfer as detailed on page 5. Check your most recent quarterly account statement to determine how your investments will be affected. Your new contracts will include the same beneficiary information on file for your current contracts. The chart below shows how your beneficiary information will be transferred. Please take note of the new contract abbreviations below when updating your account online. Please note if you have automatic allocation rebalancing occurring annually, you will need to reestablish the automatic rebalancing on your new contracts. It will not automatically carry over. Current contract s beneficiaries University of Dallas Defined Contribution Retirement Plan TIAA-CREF Retirement Annuity (RA) University of Dallas Supplemental Retirement Plan TIAA -CREF Retirement Annuity (RA), TIAA-CREF Supplemental Retirement Annuity (SRA) and TIAA-CREF Group Supplemental Retirement Annuity (GSRA) New contract s beneficiaries TIAA-CREF Retirement Choice Annuity (RC) TIAA-CREF Retirement Choice Plus Annuity (RCP) Most of the major differences between the old and new contracts relate to the TIAA Traditional Annuity. If you re thinking about transferring money out of an old contract, please note the following points: The TIAA Traditional Annuity in the Retirement Choice and Retirement Choice Plus contracts has a guaranteed minimum interest rate* of between 1 and 3 percent, which may be lower than your current guaranteed rate. On the other hand, TIAA Traditional may have a higher crediting rate than the plan s previous contracts. When TIAA Traditional assets are transferred out of an old contract, you risk giving up a favorable crediting rate(s) on older contributions. Questions? Call or visit 3

6 Allocation mapping strategy Current Investment Option Ticker Symbol Replacement Investment Option Ticker Symbol CREF Bond Market Account Variable Annuity Ivy Bond Y IBOYX CREF Equity Index Account Variable Annuity TIAA-CREF S&P 500 Index Retire TRSPX CREF Global Equities Account Variable Annuity American Funds New Perspective R3 RNPCX CREF Growth Account Variable Annuity MassMutual Select Growth Opps R4 MMGFX CREF Inflation-Linked Bond Account Variable Annuity PIMCO Real Return A PRTNX CREF Social Choice Account Variable Annuity Parnassus Core Equity Investor PRBLX CREF Stock Account Variable Annuity TIAA-CREF S&P 500 Index Retire TRSPX TIAA-CREF Equity Index R TIQRX TIAA-CREF S&P 500 Index Retire TRSPX TIAA-CREF Growth & Income Retire TRGIX MassMutual Select Growth Opps R4 MMGFX TIAA-CREF International Eq Retire TRERX MFS International Diversification R3 MDIHX TIAA-CREF Large-Cap Gr Idx Retire TRIRX MassMutual Select Growth Opps R4 MMGFX TIAA-CREF Large-Cap Value Idx Retire TRCVX American Funds Washington Mutual R3 RWMCX TIAA-CREF Large-Cap Value Retire TRLCX American Funds Washington Mutual R3 RWMCX TIAA-CREF Lifecycle 2010 Retirement TCLEX American Century One Choice In Ret A ARTAX TIAA-CREF Lifecycle 2015 Retirement TCLIX American Century One Choice In Ret A ARTAX TIAA-CREF Lifecycle 2020 Retirement TCLTX American Century One Choice 2020 A ARBMX TIAA-CREF Lifecycle 2025 Retirement TCLFX American Century One Choice 2025 A ARWAX TIAA-CREF Lifecycle 2030 Retirement TCLNX American Century One Choice 2030 A ARCMX TIAA-CREF Lifecycle 2035 Retirement TCLRX American Century One Choice 2035 A ARYAX TIAA-CREF Lifecycle 2040 Retirement TCLOX American Century One Choice 2040 A ARDMX TIAA-CREF Lifecycle 2045 Retirement TTFRX American Century One Choice 2045 A AROAX TIAA-CREF Lifecycle 2050 Retirement TLFRX American Century One Choice 2050 A ARFMX TIAA-CREF Lifecycle 2055 Retirement TTRLX American Century One Choice 2055 A AREMX TIAA-CREF Lifecycle Retire Inc Retire TLIRX American Century One Choice In Ret A ARTAX TIAA-CREF Mid-Cap Growth Retire TRGMX Janus Enterprise S JGRTX TIAA-CREF Mid-Cap Value Retire TRVRX MFS Mid Cap Value R3 MVCHX TIAA-CREF Real Estate Sec Retire TRRSX American Century Real Estate A AREEX TIAA-CREF Small-Cap Equity Retire TRSEX TIAA-CREF Small-Cap Blend Idx Retire TRBIX TIAA-CREF Social Choice Eq Retire TRSCX TIAA-CREF S&P 500 Index Retire TRSPX 4 Questions? Call or visit

7 How your existing investments will transfer to the new options On or about October 30, 2015, your existing assets in the current investment options shown below will be directed to the replacement investments listed below. Your existing assets in annuity accounts will remain where they are unless you choose to transfer them to the new investment options. Check your most recent quarterly account statement to determine how your current investments will be affected. Once you receive your TIAA-CREF Welcome Kit you can direct any future contributions to the new investment options. You can also update the investment choices for your current TIAA-CREF assets. Once the transition is completed, on or about the week of October 30, 2015, you can direct your existing assets to other options on the new investment menu. We encourage you to schedule a One-on-One Advice Session with a TIAA-CREF Financial Consultant before transferring assets. Investment transfer strategy Closing Investment Ticker Symbol Replacement Investment Option Ticker Symbol TIAA-CREF Equity Index R TIQRX TIAA-CREF S&P 500 Index Retire TRSPX TIAA-CREF Growth & Income Retire TRGIX MassMutual Select Growth Opps R4 MMGFX TIAA-CREF International Eq Retire TRERX MFS International Diversification R3 MDIHX TIAA-CREF Large-Cap Gr Idx Retire TRIRX MassMutual Select Growth Opps R4 MMGFX TIAA-CREF Large-Cap Value Idx Retire TRCVX American Funds Washington Mutual R3 RWMCX TIAA-CREF Large-Cap Value Retire TRLCX American Funds Washington Mutual R3 RWMCX TIAA-CREF Lifecycle 2010 Retirement TCLEX American Century One Choice In Ret A ARTAX TIAA-CREF Lifecycle 2015 Retirement TCLIX American Century One Choice In Ret A ARTAX TIAA-CREF Lifecycle 2020 Retirement TCLTX American Century One Choice 2020 A ARBMX TIAA-CREF Lifecycle 2025 Retirement TCLFX American Century One Choice 2025 A ARWAX TIAA-CREF Lifecycle 2030 Retirement TCLNX American Century One Choice 2030 A ARCMX TIAA-CREF Lifecycle 2035 Retirement TCLRX American Century One Choice 2035 A ARYAX TIAA-CREF Lifecycle 2040 Retirement TCLOX American Century One Choice 2040 A ARDMX TIAA-CREF Lifecycle 2045 Retirement TTFRX American Century One Choice 2045 A AROAX TIAA-CREF Lifecycle 2050 Retirement TLFRX American Century One Choice 2050 A ARFMX TIAA-CREF Lifecycle 2055 Retirement TTRLX American Century One Choice 2055 A AREMX TIAA-CREF Lifecycle Retire Inc Retire TLIRX American Century One Choice In Ret A ARTAX TIAA-CREF Mid-Cap Growth Retire TRGMX Janus Enterprise S JGRTX TIAA-CREF Mid-Cap Value Retire TRVRX MFS Mid Cap Value R3 MVCHX TIAA-CREF Real Estate Sec Retire TRRSX American Century Real Estate A AREEX TIAA-CREF Small-Cap Equity Retire TRSEX TIAA-CREF Small-Cap Blend Idx Retire TRBIX TIAA-CREF Social Choice Eq Retire TRSCX TIAA-CREF S&P 500 Index Retire TRSPX TIAA-CREF Small-Cap Equity Retire TRSEX TIAA-CREF Small-Cap Blend Idx Retire TRBIX TIAA-CREF Social Choice Eq Retire TRSCX TIAA-CREF S&P 500 Index Retire TRSPX Questions? Call or visit 5

8 Retirement plan investment advice How to access TIAA-CREF advice Online Get quick, convenient answers via the Retirement Advisor online tool. Visit click Log In and select the Advice & Guidance tab. By phone or in person You can receive personalized retirement plan investment advice either over the phone or in person. To schedule your advice session, call , Monday to Friday, 7 a.m. to 9 p.m. or Saturday, 8 a.m. to 5 p.m. (CT). TIAA-CREF s advice is designed to help you answer key questions including: 1. Am I on track to reach my retirement savings goals? We ll help you analyze how your investments are performing, and determine if you re saving enough to help meet your needs. 2. Which combination of retirement plan investments is right for me? Get assistance picking the right investments, based on your plan s investment options, diversifying properly and allocating contributions to balance your need for growth potential with your tolerance for risk. 3. How can I meet my income needs in retirement? Get help determining the amount you ll need to meet your retirement income goals.* You can also schedule online at * Investment advice is not available to foreign participants. IMPORTANT: The projections or other information generated by the Retirement Advisor tool regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results. Results may vary with each use and over time. 6 Questions? Call or visit

9 About TIAA-CREF Providing strong support on the road to retirement no matter where you are today TIAA-CREF s purpose has remained constant since TIAA was established nearly 100 years ago: We re here to help you save for and generate income during retirement. Over the years, we ve regularly introduced enhancements to the ways we deliver on our purpose. As an organization with deep roots in the world of higher education, TIAA-CREF is committed to continuous learning. And when we see opportunities to enhance our retirement plan services, we share them with the institutions we serve. Today, TIAA-CREF is a leader in providing retirement plan services to nonprofits in the academic, cultural, governmental, medical and research fields. We are trusted by 16,000 institutions across the nation. Not sure where to begin? Meet with us to help you take the next step! 1918 TIAA Teachers Insurance and Annuity Association of America created 1952 CREF College Retirement Equities Fund created Get personalized retirement plan advice on the plan s investment options from a TIAA-CREF Financial Consultant. This service is available as part of your retirement program at no additional cost to you. To schedule a session, call , Monday to Friday, 7 a.m. to 7 p.m. (CT). You can also visit Questions? Call or visit 7

10 8 Questions? Call or visit

11 Q&A 1. Why is University of Dallas updating the retirement program? Over the past year, the University of Dallas has undertaken an in-depth review of the university s retirement plan. Through efforts of the Investment Review and Oversight Committee, chaired by Dr. Ruth May (College of Business), the plan s investment funds as well as the recordkeeping services provided by TIAA-CREF, were carefully analyzed for performance, suitability and associated fees. 2. How can I get familiar with my new investment options? A menu of new investment options is included in this guide for your review. You can also visit the dedicated retirement program website at 3. If I m happy with my current investment selections, can I keep them? If your current investment selections are included on the new menu, you can keep them. However, some current investment options will no longer be available. Please check the new investment menu and transfer strategy included in this guide to understand how your investments may be affected. 4. What if I need help making investment choices? You can get help selecting your investments. Get personalized retirement plan advice on the plan s investment options from TIAA-CREF. This service is available as part of your retirement program at no additional cost to you. Online: Get quick, convenient answers via the online tool. Visit click Log In and select the Advice & Guidance tab. One-on-One Advice Sessions: You can receive personalized retirement plan investment advice either over the phone or in person at our local office. To schedule your session, call , Monday to Friday, 7 a.m. to 7 p.m. (CT). Or visit 5. What should I expect from a TIAA-CREF One-on-One Advice Session? Advice sessions last approximately one hour. If possible, bring all your investment account statements, including any retirement investments outside of the retirement program, and your most recent Social Security statement. A TIAA-CREF Financial Consultant can use this information to understand your current financial situation and help you select the appropriate investment options. 6. Will I pay any fees to make investments in the retirement plan? All investment options have expense ratios and other fund-specific fees that can be found in the prospectuses at Some investment options may also have redemption and other fees. 7. Can I transfer my existing balances to the new Retirement Choice contract? Yes. Call TIAA-CREF at , Monday to Friday, 7 a.m. to 9 p.m. or Saturday, 8 a.m. to 5 p.m. (CT), to determine if you can request a transfer to your new contract. Please note that the TIAA Traditional Annuity in the Retirement Choice contract has a different minimum interest rate and liquidity rules than the plan s previous contract types. Questions? Call or visit 9

12 We re here to help. Not sure where to begin? Meet with us to help you take the next step! Get personalized retirement plan advice on the plan s investment options from a TIAA-CREF Financial Consultant. This service is available as part of your retirement program at no additional cost to you. To schedule a session, call , Monday to Friday, 7 a.m. to 7 p.m. (CT), or visit Phone Call , Monday to Friday, 7 a.m. to 9 p.m. or Saturday, 8 a.m. to 5 p.m. (CT). Online Visit udallas to learn about the program s investment choices, make transactions and access retirement planning tools. Distributions from 403(b) plans before age 59½, severance from employment, death or disability may be prohibited, limited and/or subject to substantial tax penalties. Different restrictions may apply to other types of plans. Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not bank deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value. Investment products may be subject to market and other risk factors. See the applicable product literature, or visit for details. You should consider the investment objectives, risks, charges and expenses carefully before investing. Please call or go to for current product and fund prospectuses that contain this and other information. Please read the prospectuses carefully before investing. TIAA-CREF Individual & Institutional Services, LLC, Teachers Personal Investors Services, Inc., and Nuveen Securities, LLC, Members FINRA and SIPC, distribute securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Each is solely responsible for its own financial condition and contractual obligations Teachers Insurance and Annuity Association of America-College Retirement Equities Fund (TIAA-CREF), 730 Third Avenue, New York, NY C _ (07/15)