[Bnc-faculty-all-list] Info on Change in Retirement from TIAA/CREF to Fidelity, ON BEHALF OF DAVID JANES

[Starewich, Deborah S.]

From: "David B. Janes" <janes at ecn.purdue.edu>
Date: Tue, 14 Sep 2010 15:50:57 -0400
To: BNC Faculty <Bnc-faculty-all-list at ecn.purdue.edu>, John Weaver
<jrweaver at purdue.edu>, Ron Reger <rreger at purdue.edu>
Cc: Monica Allain <mallain at purdue.edu>, "janes at ecn.purdue.edu"
<janes at ecn.purdue.edu>
Subject: Info on Change in Retirement from TIAA/CREF to Fidelity

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)).


Thanks,

Dave


PLEASE NOTE THAT THIS DOES NOT INCLUDE EMPLOYEES ON PERF

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