Reduced fees for TIAA-CREF mutual funds effective June 17

1:47 p.m., May 10, 2011--The University of Delaware is pleased to announce a reduction in management fees and expenses for several TIAA-CREF mutual funds available to participants in the 403(b) and 457(b) retirement plans. These lower fees will allow employees to keep more money in their accounts and can help individuals reach their retirement goals more effectively. The lower fees will become effective on June 17, and mutual fund participants will see this activity reflected on their June 30 quarterly statements.

The lower fees are the result of a new Institutional Share Class created by TIAA-CREF. No action is required by participants to effect this change, and existing mutual fund balances will be automatically reallocated from the current Retirement Share Class funds to the corresponding Institutional Share Class funds. The fund name, investment strategy and underlying investments are the same for each share class of a particular mutual fund. However, each share class of TIAA-CREF mutual funds has a unique ticker symbol and is registered separately. All TIAA-CREF mutual fund shares will migrate to the new Institutional Share Class funds, although balances will remain 100 percent invested throughout this transition. Also, future contributions to the funds will be directed automatically to the new Institutional Share Class of the funds that were previously selected. 

FYI Stories

June 6: UDid It! Picnic

All UD faculty and staff members are invited to attend the annual UDid It! employee appreciation picnic, set from 11 a.m.-1:30 p.m., Monday, June 6, on The Green.

2FA protects you

If you are using two-factor authentication (2FA), even if a hacker has your password, your information is probably safe.

• 2FA protects you
• Police training
• Traffic alert
• Library photo ID

TIAA-CREF will be notifying University of Delaware participants of this change and the specific transactions on participant accounts. In addition, as noted above, mutual fund participants will see this activity reflected on their June 30 quarterly statements. Please note that TIAA-CREF’s annuity investment options are not changing.

For more information on the new share class and fee reductions, please see the Office of Human Resources website. Also, TIAA-CREF representatives will be available at the May 17 Benefits/Wellness Fair, scheduled from 9:30 a.m. – 3 p.m. in the Trabant University Center. 

Employees also may log in to the secure section of the TIAA-CREF website or call the Automated Telephone Service at 800-842-2252, available 24 hours a day, seven days a week.