CU Retirement Plan Transition Guide arms participants with knowledge, to-dos
Employees who participate in any of CU's Retirement Plans now have a comprehensive resource to guide them through Plan changes effective this July, as well as what they can do in the coming weeks.
Soon, all Plan participants will receive a Transition Guide in the mail—but if they did not, you can direct them to digital versions of the guide at www.cu.edu/nestegg. The Transition Guide walks participants through the changes underway, including transfers of current Plan balances into the new Plan fund menus and how future Plan contributions will be invested in those menus. Supplemental documents detail new investment lineup options as well as the Plan blackout period, which applies only to those who currently invest with Fidelity and Vanguard.
NEW PLAN ACCOUNTS AVAILABLE JUNE 15
Starting Monday, June 15, most* Plan participants can access their new retirement accounts through TIAA-CREF—the new service provider for CU's Retirement Plans. Any balances an employee has in an existing CU Plan account that can be automatically transferred will flow directly into a new account in July, and his/her future contributions will be redirected here as well. You can see whether your balances will automatically transfer by reviewing page 6 of the Transition Guide and/or reviewing the guide's investment menu inserts.
Note: Employees will be issued a new account for each type of CU Retirement Plan they have (e.g., CU 401(a) Retirement Plan; CU 403(b) Voluntary Retirement Plan; and the CU Student Employee Retirement Plan).
*Plan participants hired in May 2015 will be issued new accounts on July 7.
Share these instructions with Plan participants, including Student Employee Retirement Plan (SERP) participants, to help them access their new account(s):
- New to TIAA-CREF? Set up online access to the your account(s) at www.tiaa-cref.org/cu. Select "Register for Access," and set up a user ID and password.
If you already have a TIAA-CREF account, use your existing credentials to log in to www.tiaa-cref.org/cu. Starting June 15, you’ll see the new investment lineup.
- Review and, if necessary, update your account beneficiary.
- View and/or change the strategy for how your future contributions will be invested in the new fund lineup. The Transition Guide (page 5) can help you understand how your future contributions will be treated.
- The deadline to make changes to how your future contributions will be allocated before the transition is 2 p.m. (MT) July 17, if you are paid biweekly or 2 p.m. (MT) July 31, if you are paid monthly.
Note: You may also make changes after the transition is complete, but any changes to allocation strategies for future contributions will take effect with the next applicable pay date.