[Bnc-faculty-all-list] Info on Change in Retirement from TIAA/CREF to Fidelity

[David B. Janes]

BNC Colleagues,

As you likely have already heard, as of 1/1/11, Purdue's retirement 
contribution (and our mandatory 4% contribution) will be managed by 
Fidelity, rather than TIAA/CREF.  At yesterday's Univ. Senate meeting, 
we received some general information -- I have summarized a few 
highlights in the attached document. Overall, the change is intended to 
provide i) a broader range of investment choices, ii) lower fees and 
iii) more objective investment advice (including an on-campus Fidelity 
office).

PU plans to start mailing out information packets next week, so please 
watch your snail mail.  There will be action required on your part to 
specify your investment choices (unless you want the default investment 
options, which are target date investment funds (e.g. Vangard 2025)).


John and Ron, please forward to TIAA/CREF eligible staff.

Thanks,

Dave

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