1. What happens to my existing investment options?
Throughout 2018, all existing investment options will remain available, unless notified otherwise. If your investment elections are not directed to the new investment lineup at Fidelity by the end of the year, your future contributions (both payroll deductions and Duke's contributions), beginning in January 2019, will be directed to the Plan's default option at Fidelity, a Vanguard Institutional Target Retirement Institutional Fund.
2. What happens to my existing balances?
In January 2019, all mutual fund balances at TIAA held in funds that are in the new investment lineup will transfer in-kind to Fidelity. All mutual fund balances at TIAA that are not in the new investment lineup will be transferred (or "mapped") to a fund in the new investment lineup according to the investment option mapping strategy. If you do not want your TIAA mutual fund balances to transfer according to the investment option mapping strategy, you can request a change to your balance at TIAA by December 2018 or transfer balances to Fidelity.
All balances in the annuity options at TIAA will not transfer to Fidelity, unless you initiate a Plan-to-Plan transfer. Additional contributions will not be allowed to the frozen annuity options effective January 2019 with the exception of the TIAA Traditional Annuity.
3. Which annuity balances will remain at TIAA?
TIAA annuity investments that will not move unless you initiate a transfer request include:
- CREF Equity Index Account
- CREF Global Equities Account
- CREF Growth Account
- CREF Stock Account
- TIAA Real Estate Account
- CREF Bond Market Account
- CREF Inflation?Linked Bond Account
- CREF Money Market Account
- CREF Social Choice Account
- TIAA Traditional Annuity
4. What will happen to my contributions?
Beginning in January 2019, all contributions (both payroll deductions and Duke's contributions) will be directed to Fidelity. If you do not select investment options from the new investment lineup at Fidelity, your contributions will be directed to the Plan's default option at Fidelity, a Vanguard Institutional Target Retirement Institutional Fund.
Your contribution amount will not change, unless you make a change prior to December 2018 through Retirement Manager. Beginning in January, changes to your contribution amounts will be made through NetBenefits.
5. What will happen to the loan I have at TIAA?
A new loan program will be available with Fidelity in 2019. Additional information will be provided later this year. If you have a loan with TIAA, you should continue to repay your loan as you do now. Loans at TIAA will remain at TIAA. Specific information will be provided at a later date in 2018.