Your path to retirement - Announcing updates to the Tulane University retirement program - TIAA.org
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Your path to retirement Announcing updates to the Tulane University retirement program
Table of contents A message from Tulane University 1 Key dates 2 New services for all participants 3-4 Understanding your investment options 5 Investment lineup 6-8 Overview of retirement plan fees 9-11 What’s happening to your account If you currently have an account with Fidelity 13-16 Additional information for retirees and separated employees 17 Self-directed brokerage option 18 If you currently have an account with TIAA 19 Resources and information to help you Informational events 21 Retirement planning resources 22 We’re here to help 23 Disclosures 24-25
A message from
Tulane University
After carefully reviewing the current retirement plans offered at Tulane, we’re consolidating
the plans to a single retirement source—TIAA. Tulane will be transitioning all current Fidelity
retirement accounts to TIAA in January 2022.
Why the change?
We’re always looking for ways to bring savings and financial security to our Tulane community. The change to TIAA as the
single retirement administrator and recordkeeper will reduce overall plan management costs. And lower plan costs mean
more of your savings can work for you.
While there will always be costs to operate our retirement plans to cover reporting, communications, investment
consulting, and legal advice, this transition allows us to enhance our level of retirement support from TIAA while reducing
costs and removing duplicative services from Fidelity. Importantly, you will now see fees broken out on your new quarterly
statements from TIAA to cover the costs of plan administration.
How does this transition impact those with Fidelity accounts?
The vast majority of Fidelity plan members should not experience any impact other than now going to the TIAA
platform to access and manage your account. In most cases, your balances and future contributions in the plans
will remain in, and continue to be directed to, your same investment options.
• See pages 6-7 for the investment options at TIAA.
• See pages 13-16 for investment changes if you are currently a Fidelity investor.
• See page 19 for investment changes if you are currently a TIAA investor.
What new and enhanced services will be offered with TIAA?
A faster, simplified online experience. A new online platform will replace the existing retirement plan enrollment
site to make plan changes faster and easier. As part of the enhancements, you will have the option to set up
automatic contribution increases to your Tulane University Tax-Deferral Plan to help build your savings faster.
Help finding relief from student loan debt. TIAA has joined forces with Savi, a social impact technology company,
to offer eligible Tulane employees the opportunity to take advantage of loan forgiveness programs and determine
optimal repayment plans.
What’s next?
It’s our goal to provide you with education and support as you plan for retirement. If you have questions, please see
the schedule of webinars on page 21, or call TIAA at 800-842-2252. TIAA Financial Coaches are available to assist
you weekdays, 7 a.m. to 9 p.m. (CT).
Questions? Call 800-842-2252 or visit TIAA.org/tulane 1
Key dates
When Who What
Get ready Fidelity Review your account and decide if you want to make changes, such as re-directing
Now–January 12, 2022 participants balances or obtaining a distribution.
Quiet period for
service enhancements
Fidelity
and TIAA
You cannot make changes to your contribution rate or enroll in the plan due to
service enhancements at TIAA during this time.
at TIAA begins participants
December 15, 2021, You may still access your TIAA account, transfer funds, update beneficiaries and
review investment performance.
at 3 p.m. (CT)
You may still access your Fidelity account, transfer funds, update beneficiaries and
review investment performance (until the blackout period starts).
New account Fidelity Fidelity participants who do not already have an account at TIAA will be enrolled in
enrollment participants a new TIAA Retirement Choice (RC) and/or Retirement Choice Plus (RCP) account
January 4, 2022 in the Tulane University retirement plan(s):
• Tulane University Faculty & Administrative Retirement Plan
• Tulane University Staff Retirement Plan
• Tulane University Tax-Deferral Plan
• Tulane University 457(b) Deferred Compensation Plan
If you have an existing self-directed brokerage account, a new one will be opened at TIAA.
TIAA will send an enrollment confirmation and welcome kit with instructions for
accessing and managing your new account.
Your new account at TIAA will show a zero balance until your first contribution is sent in
January or after your account balances transfer from Fidelity.
Future contributions Fidelity All future contributions to the Tulane University retirement plans will be directed to
to new accounts participants your TIAA account and into the investment options outlined on page 14.
Payrolls beginning
on or after
January 7, 2022
Fidelity blackout
period begins
Fidelity
participants
You cannot make changes to your existing Fidelity account, including investments,
withdrawals, obtain a distribution or transfer funds.
January 12, 2022,
at 3 p.m. (CT) Scheduled contributions continue and balances remain invested.
No impact to new TIAA accounts.
Quiet period ends Fidelity You can now access the new online services at TIAA (online enrollment and salary
January 14, 2022 and TIAA deferral and self-directed auto increase).
participants
Fidelity balances
transfer to TIAA
Fidelity
participants
You will not have full access to your transferred balances in your new TIAA account
until the blackout period has ended.
January 19, 2022
Your account will remain fully invested.
You will receive a confirmation from TIAA when the transfer is complete.
Blackout period ends Fidelity Blackout period is expected to end by this date.
for transferred balances participants
Week of You can now access and update your new account at TIAA, including balances
transferred from Fidelity, and review and update your beneficiaries at TIAA.org.
January 31, 2022
Important note: The date of the transfer/the end of the blackout period depends on the accurate, timely transfer of data
and assets from Fidelity to TIAA. If this does not occur, the end of the blackout period could be delayed.
2 Questions? Call 800-842-2252 or visit TIAA.org/tulane
New services for all participants
Enhanced online enrollment and salary deferral
Beginning January 14, 2022, a new online platform will replace the existing retirement plan enrollment
site so changes can be made faster and easier. You will be directed to TIAA.org to complete the electronic
agreement to start or update your contributions.
You will have the option to contribute up to the maximum amount allowed under the annual IRS limit. The new
platform will be available at hr.tulane.edu/benefits/retirement.
Please continue to use HCM Self-Service to update your 2021 contributions until December 15, 2021.
Self-directed auto increase for the Tulane University Tax-Deferral Plan
As part of the enhancements, you will have the option to set up automatic contribution increases to your Tulane
University Tax-Deferral Plan to help build your savings faster.
Log in to your TIAA account any time after January 14, 2022, and select Change your contributions under the
Actions menu. You can choose when your contributions should increase, the increase percentage, and the date
auto increase should start.
Note: You can change or stop the automatic increase option at any time, and you can always change your
contribution rates or your investments.
Active Tulane employees will receive additional information in January 2022 on how to access these
new services.
continued
Questions? Call 800-842-2252 or visit TIAA.org/tulane 3
New services for all participants (continued)
Finding relief from student loan debt
The savings can be As an employee who works in public service, you may be eligible for Public Service
significant Loan Forgiveness (PSLF). PSLF is a federal program that can provide financial relief
People are saving an by: 1) immediately lowering your monthly student loan payments and 2) potentially
average of $1,880 per year forgiving the balance of your loan tax free after 10 years of payments. TIAA has
through lower monthly joined forces with Savi, a social impact tech company, to offer a service that can
help you successfully take advantage of programs like PSLF. After completing a free
payments.1 That gives you
assessment, you’ll be able to determine:
money for other financial
goals, whether it’s building 1. The optimal repayment plan and your estimated monthly savings
up an emergency fund, 2. W hether you qualify for a forgiveness plan, how much could be forgiven
saving more for retirement and when
or paying off other debts. Additional information regarding this service can be found at tulane.bysavi.com.
Retirement plan loans changes
Beginning January 3, 2022, there will be a change to how retirement plan loans are offered in the Tulane University
Tax-Deferral Plan. When you take out a new loan, you will be:
• Offered a fixed rate of interest, and the loan will be funded directly from your retirement account. The loan amount will
be deducted from your account, and payments, including interest, will be credited back to your account.
• Charged a one-time origination fee. The fee is $25 for general purpose loans and $25 for primary residence loans.
• Allowed a maximum of three outstanding loans at any one time. Former employees are not eligible to request new loans.
Summary of new loan features at TIAA
Loan features TIAA loans
Eligibility Active employees
Number of outstanding loans 32
General purpose: $25
Loan origination fee
Primary residence: $25
Account funding the loan Eligible accumulations in your retirement account 3
Maximum loan amount $50,0004
Interest rate Wall Street Journal Prime Rate +1%
Online application Yes
Collateral No
General purpose: 1-5 years
Loan terms
Primary residence: up to 10 years
Loan disbursement Check or electronic funds transfer
Loan repayment ACH bank transfer
Loan payoff Certified check or online single deduction
1
Between January 1 and December 31, 2019, based on Savi’s internal measurements, Savi users saw average projected savings of $1,880 per year.
2
An institution has the right to further restrict the allowable number of outstanding loans.
3
Includes balances in annuities and mutual funds, excluding TIAA Traditional non-liquid assets.
4
Other restrictions and calculations may affect the amount available.
4 Questions? Call 800-842-2252 or visit TIAA.org/tulane
Understanding your investment options
Tulane’s new investment lineup includes four types of investment options. You can read an overview of each below and
see the full lineup on pages 6-7. With careful consideration, you can choose options that help put your savings to work
today and provide income once you retire. If you want to learn more about your options or discuss which might be
right for you, schedule an individual investment advice session with a TIAA Financial Coach.
Target-date funds Core mutual funds
If you prefer a simple, one-fund approach to If you prefer to choose your own investments
retirement investing Core mutual funds include a range of investment
A target-date fund is a diversified investment in a single options selected by Tulane to help you build a
fund. You are generally in a fund according to the year diversified portfolio. A mutual fund pools assets from
in which you turn age 65. It’s invested for potential many individuals to invest in stocks, bonds, money
growth in your early years, then gradually transitions market instruments and similar investments.
to more conservative investments as you approach
age 65. These funds, which Tulane has selected as the
investment default for the retirement program, are
considered “best practice” by some retirement experts
due to their automatic rebalancing feature.
Annuities Self-directed brokerage
If you want retirement income guaranteed If you’re an experienced investor
to last your lifetime A self-directed brokerage account gives you access to
Annuities are financial investment options that thousands of mutual funds beyond your investment
guarantee to pay you (or you and a spouse or partner) lineup. This account is for sophisticated investors who
income for life. want to have a great deal of control over their investments
A guaranteed (fixed) annuity pays a minimum and take on active management of their portfolios.
guaranteed interest rate based on the claims-paying Tulane neither selects nor monitors funds available
ability of the issuing company. Its value won’t rise and through a brokerage account, and TIAA doesn’t offer
fall with the stock market, and it can help provide investment advice on brokerage investments.
steady monthly income for the rest of your life.
A variable annuity offers potential for growth to help
keep pace with rising costs. Its value will rise and fall.
While it can provide retirement income guaranteed to
last your lifetime, the actual amount of income will vary.
Questions? Call 800-842-2252 or visit TIAA.org/tulane 5
Investment lineup
As part of the transition to a single recordkeeper, the Tulane University Investment Committee and Aon, an independent
financial consultant, conducted a thorough review of Tulane’s retirement plans—including the investments offered
across both providers (Fidelity and TIAA). Through this exercise, new investment options were added to the investment
lineup at TIAA to provide options to meet the diversified needs of Tulane retirement plan participants. For more detailed
information on each option, visit TIAA.org and enter the ticker symbol in the site’s search feature.
Plan
Gross Net
Revenue servicing
Birth years Investment option Ticker expense expense
sharing % fee/
ratio1 % ratio1 %
(credit) %
T. Rowe Price Retirement I
Before 1943 TRPFX 0.340 0.340 0.000 0.000
2005 I
T. Rowe Price Retirement I
1943 – 1947 TRPAX 0.340 0.340 0.000 0.000
2010 I
T. Rowe Price Retirement I
1948 – 1952 TRFGX 0.360 0.360 0.000 0.000
2015 I
T. Rowe Price Retirement I
1953 – 1957 TRBRX 0.370 0.370 0.000 0.000
2020 I
T. Rowe Price Retirement I
1958 – 1962 TRPHX 0.390 0.390 0.000 0.000
2025 I
T. Rowe Price Retirement I
1963 – 1967 TRPCX 0.410 0.410 0.000 0.000
2030 I
T. Rowe
Price T. Rowe Price Retirement I
1968 – 1972 TRPJX 0.420 0.420 0.000 0.000
target-date 2035 I
funds
T. Rowe Price Retirement I
1973 – 1977 TRPDX 0.430 0.430 0.000 0.000
2040 I
T. Rowe Price Retirement I
1978 – 1982 TRPKX 0.440 0.440 0.000 0.000
2045 I
T. Rowe Price Retirement I
1983 – 1987 TRPMX 0.450 0.450 0.000 0.000
2050 I
T. Rowe Price Retirement I
1988 – 1992 TRPNX 0.460 0.460 0.000 0.000
2055 I
T. Rowe Price Retirement I
1993 – 1997 TRPLX 0.460 0.460 0.000 0.000
2060 I
T. Rowe Price Retirement I
1998 – present TRFKX 0.460 0.460 0.000 0.000
2065 I
6 Questions? Call 800-842-2252 or visit TIAA.org/tulane
Plan
Gross Net
Revenue servicing
Investment option Ticker expense expense
sharing % fee/
ratio1 % ratio1 %
(credit) %
CREF Social Choice Account R2
QCSCPX 0.245 0.245 0.200 (0.200)
(variable annuity)
DFA U.S. Targeted Value Portfolio
DFFVX 0.330 0.330 0.000 0.000
Institutional
Dodge & Cox Global Stock Fund DODWX 0.620 0.620 0.100 (0.100)
Dodge & Cox Stock DODGX 0.520 0.520 0.100 (0.100)
Jackson Square SMID-Cap Growth Fund IS 2
DCGTX 0.850 0.870 0.000 0.000
Oakmark International Institutional 2
OANIX 0.800 0.780 0.000 0.000
PIMCO Inflation Response Multi-Asset Fund
PIRMX 0.930 0.730 0.000 0.000
Institutional2
PIMCO Total Return Institutional PTTRX 0.470 0.470 0.000 0.000
T. Rowe Price Large-Cap Growth I TRLGX 0.560 0.560 0.000 0.000
TIAA Real Estate Account (variable annuity) QREARX 0.865 0.865 0.240 (0.240)
Core
investment TIAA Traditional Annuity 3
N/A N/A N/A 0.150 (0.150)
options (guaranteed annuity)
Vanguard Emerging Markets Stock Index
VEMIX 0.100 0.100 0.000 0.000
Fund Institutional
Vanguard Extended Market
VIEIX 0.050 0.050 0.000 0.000
Index Institutional
Vanguard Federal Money Market
VMFXX 0.110 0.110 0.000 0.000
Fund Investor
Vanguard Institutional Index
VINIX 0.035 0.035 0.000 0.000
Fund Institutional
Vanguard Real Estate Index Admiral VGSLX 0.120 0.120 0.000 0.000
Vanguard Total Bond Market Index
VBTIX 0.035 0.035 0.000 0.000
Fund Institutional
Vanguard Total International Stock Index
VTSNX 0.080 0.080 0.000 0.000
Fund Institutional
Brokerage
TIAA Brokerage Account see page 18
service
See Disclosures beginning on page 24 for important details on Investment, insurance and
annuity products.
continued
1
Gross and net expense ratios as of October 28, 2021.
2
A contractual or voluntary fee waiver may apply. See fund prospectus for details.
3
Any guarantees under annuities issued by TIAA are subject to TIAA’s claims-paying ability.
Questions? Call 800-842-2252 or visit TIAA.org/tulane 7
Investment lineup (continued)
Legacy annuities and credits
The following table includes retirement plan annuities that are options within your legacy Retirement Annuity (RA),
Group Retirement Annuity (GRA), Supplemental Retirement Annuity (SRA) and Group Supplemental Retirement
Annuity (GSRA) contracts. These annuities will continue to offer plan services expense offsets.
Gross Net Plan
Revenue
Account Ticker expense expense servicing fee/
sharing %
ratio1 % ratio1 % (credit) %
CREF Bond Market R2 (variable annuity) QCBMPX 0.260 0.260 0.200 (0.200)
CREF Equity Index R2 (variable annuity) QCEQPX 0.220 0.220 0.200 (0.200)
CREF Inflation-Linked Bond R2
QCILPX 0.230 0.230 0.200 (0.200)
(variable annuity)
CREF Global Equities R2 (variable annuity) QCGLPX 0.265 0.265 0.200 (0.200)
CREF Growth R2 (variable annuity) QCGRPX 0.235 0.235 0.200 (0.200)
CREF Money Market R2 (variable annuity) QCMMPX 0.235 0.235 0.200 (0.200)
CREF Social Choice R2 (variable annuity) QCSCPX 0.245 0.245 0.200 (0.200)
CREF Stock R2 (variable annuity) QCSTPX 0.290 0.290 0.200 (0.200)
TIAA Real Estate Account (variable annuity) QREARX 0.865 0.865 0.240 (0.240)
TIAA Traditional Annuity (guaranteed annuity)
2
N/A N/A N/A 0.150 (0.150)
See Disclosures beginning on page 24 for important details on Investment, insurance and
annuity products.
1
Gross and net expense ratios as of October 28, 2021.
2
Any guarantees under annuities issued by TIAA are subject to TIAA’s claims-paying ability.
8 Questions? Call 800-842-2252 or visit TIAA.org/tulaneOverview of retirement plan fees
With the changes to TIAA as the single recordkeeper and the new
investment lineup, Tulane will be able to reduce overall retirement Terms to know:
plan management costs to operate the plans. There will also be
changes in how the plans’ administration cost will be assessed, and
everyone will now see these fees on quarterly statements. Revenue sharing
When making decisions about your retirement account, it is important to In some cases, an
know there are fees associated with many of the retirement plan services and investment provider
investments. As part of this transition, the approach for assessing the plans’ may pay a portion of an
recordkeeping and administrative costs is changing. investment’s expense
ratio to TIAA, the
How fees are structured—some background recordkeeper, as a means
Participants in the plans have always paid for three categories of plan-related costs: of offsetting the cost of
plan administration.
• Recordkeeping and administrative—Recordkeeping fees are paid to the
This practice is called
plans’ recordkeepers, previously Fidelity and TIAA—going forward, TIAA
“revenue sharing.” TIAA
only. Administrative fees are paid to the plans’ investment consultant,
Traditional Annuity,
auditors, accountants, legal counsel and other administrative resources.
the TIAA Real Estate
• Fund management expenses (expense ratios)—Investment expenses are Account and all CREF
paid to fund managers and taken out of individual investments in which Annuity accounts do not
participants are invested. have revenue sharing.
• Personalized participant services—Refer to a number of optional plan
features (such as loans, self-directed brokerage) that you pay for only if you
use them. Plan services
expense offset
Update on your retirement plans’ recordkeeping and This is a reduction to
investment management fees the recordkeeping
fee that TIAA and
Effective January 3, 2022, the recordkeeping and administrative fees will be
Tulane agreed to for
assessed as a fixed, per-participant fee. The annual administrative fee covers
recordkeeping services.
services such as recordkeeping, legal, accounting, investment advisory, and
other plan and participant services. As a result, you will see a recordkeeping fee
reported on your quarterly statements identified as “TIAA Plan Servicing Fee.”
The plan administration fees are: Gross expense ratio
Includes all of an
Your total servicing
If you have an account in the following plans ... investment’s expenses.
fee will be ...
Tulane University Faculty & Administrative Retirement Plan $31/year ($7.75/quarter)
Net expense ratio
Tulane University Staff Retirement Plan $21/year ($5.25/quarter)
Takes into account any
Tulane University Tax-Deferral Plan $26/year ($6.50/quarter)
investment fee waivers and
expense reductions, giving
Please note, if you have a balance in more than one plan, you will be charged the
an indication of what is
fee for each plan.
currently being charged.
continued
Questions? Call 800-842-2252 or visit TIAA.org/tulane 9Overview of retirement plan fees (continued)
How the plan servicing fee will be applied to your TIAA contracts each quarter
If you are a former Fidelity participant
If you only have a Retirement The quarterly plan servicing fee will be deducted directly from your account.
Choice (RC) and/or Retirement For any revenue sharing investments you are invested in, those revenue
Choice Plus (RCP) account(s) sharing/plan services expense offset amounts will be credited back to you at
the end of each quarter.1,2
If you invest up to 90% through TIAA The quarterly plan servicing fee will be deducted directly from your balances
Brokerage and have a balance in RC that have been directed to your RC and/or RCP account(s).1
and/or RCP account(s)
If you are TIAA participant
If you only have an RC and/or RCP The quarterly plan servicing fee will be deducted directly from your account.
account(s) For any revenue sharing investments you are invested in, those revenue
sharing/plan services expense offset amounts will be credited back to you at
the end of each quarter.1,2
If you only have legacy contract(s) The quarterly plan servicing fee will be deducted from the plan services
expense offsets generated by the investments in your legacy account(s).
If the offsets generated by your investments in your legacy account(s) is equal
to or less than the quarterly plan servicing fee, no offset amounts will be
credited back to your legacy account(s).2
If you have both an RC and/or RCP The quarterly plan servicing fee will first be deducted from your RC and/or
account(s) and existing legacy contract(s) RCP account(s). If any unpaid balance remains, TIAA will collect the
remaining fee from the revenue sharing generated by the investments in
your legacy account(s).2
If the plan services expense offsets generated by your investments in your
legacy account(s) is equal to or less than the unpaid balance of the plan
servicing fee, no offsets will be credited back to your legacy account(s).2
If there are any offset amounts remaining after paying the unpaid balance of
the plan servicing fee, they will be credited back to your legacy account(s) in
the form of a plan servicing credit.
If you invest up to 90% through TIAA The quarterly plan servicing fee will be deducted directly from your balances
Brokerage and have a balance in RC that have been directed to your RC and/or RCP account(s).1
and/or RCP account(s)
1
I f, after looking to the balances in your RC/RCP contracts and any revenue sharing generated by the investments in those contracts there
remains an unpaid balance of the quarterly plan servicing fee, the unpaid balance will be waived and will not be assessed against your
account in any subsequent quarterly cycle.
2
egacy contracts include Retirement Annuity (RA), Supplemental Retirement Annuity (SRA) and Group Supplemental Retirement Annuity
L
(GSRA) contracts.
10 Questions? Call 800-842-2252 or visit TIAA.org/tulaneFor all participants: The plan servicing fee depends on the type of account
Retirement Choice (RC) contracts are the current contract type for the Tulane University Faculty & Administrative Retirement
Plan, Tulane University Staff Retirement Plan and Tulane University Tax-Deferral Plan (for University contributions).
Retirement Choice Plus (RCP) contracts are the current contract type for the Tulane University Staff Retirement Plan and
Tulane University 457(b) Deferred Compensation Plan (for employee contributions).
For TIAA participants only:
Legacy contracts include the following contracts for contributions prior to July 10, 2015.
Plan Legacy contract type
Tulane University Faculty & Administrative Retirement Plan Retirement Annuity (RA)
Tulane University Staff Retirement Plan Group Retirement Annuity (GRA)
Tulane University Tax-Deferral Plan Retirement Annuity (RA)
Group Retirement Annuity (GRA)
Supplemental Retirement Annuity (SRA)
Group Supplemental Retirement Annuity (GSRA)
Investment-specific services
Each of the plans’ investment options has a fee for investment management and associated services. Plan participants
generally pay for these costs through what is called an expense ratio. Expense ratios are displayed as a percentage of assets.
For example, an expense ratio of 0.50% means a plan participant would pay $5 annually for every $1,000 in assets. Taking
the expense ratio into consideration helps you to compare investment fees so you can make informed investment decisions.
You can find the expense ratios, as well as investment-specific purchase, withdrawal and redemption fees and expenses, at
TIAA.org/tulane or in the prospectus at TIAA.org/performance.
See Disclosures beginning on page 24 for important details on Fees and expenses.
Questions? Call 800-842-2252 or visit TIAA.org/tulane 11What’s happening
to your account
12If you currently have an account with Fidelity
You will have a new account with TIAA
On January 4, 2022, a new Retirement Choice (RC) and/or Retirement Choice Plus (RCP) account will be set
up for you with TIAA. Beneficiary information associated with your Fidelity account will transfer to your new
TIAA account if you invest solely with Fidelity. Please note: If you have accounts at both Fidelity and TIAA, your
investment instructions and beneficiary designation will apply as follows:
If you currently have ... Then ...
an account at both Fidelity and a RC and/or RCP your TIAA account will replace your Fidelity investment
account at TIAA. instructions and beneficiary designations.
accounts at both Fidelity and TIAA, and your TIAA your Fidelity investment instructions and beneficiary
account is a legacy account.1 will carry over to TIAA.
Please note: If you are new to TIAA, your TIAA account will show a zero balance until it receives the first payroll
contribution in January or after your balances transfer from Fidelity.
Your future contributions and Fidelity plan balances will move to TIAA
Starting with payrolls on or after January 7, 2022, any ongoing retirement plan contributions will be directed to your
account at TIAA and to the investment options shown on pages 14-15.
On January 19, 2022, investment account balances you have with Fidelity are expected to transfer to your new
account at TIAA and will be directed to the investment options shown on pages 14-15. If you want to continue
investing in the one Fidelity fund that is not available on the TIAA investment lineup, you can open a brokerage
account once your new account is set up with TIAA.
Do you currently have a brokerage account with Fidelity?
If so, a new brokerage account will be automatically set up for you with TIAA, and your balances will transfer
in kind (if available). Any future contributions will also be directed to the new brokerage account, if applicable.
Once the transfer is complete, you may allocate directly to brokerage-specific investments. See page 18 for more
information about the TIAA Brokerage service.
Please note: If you are currently directing your future contributions to the Fidelity BrokerageLink® option, your
allocations will be directed to the TIAA Brokerage Money Market fund until you make a brokerage fund selection.
Please remember, you must meet the initial investment minimums before allocating to another brokerage
investment option.
There will be a blackout period with restrictions on your Fidelity plan balances
There will be a blackout period to facilitate the transfer of existing investment balances from Fidelity to TIAA.
During this time, you won’t be able to change your investment choices, make withdrawals or transfer funds.
The blackout period is expected to begin January 12, 2022, at 3 p.m. (CT), and is expected to end the week
of January 31, 2022. Any scheduled payroll contributions to the plans will continue to be deducted from your
paycheck during the blackout period. Please review the enclosed Blackout Notice for more information.
continued
1
egacy accounts at TIAA include Group Retirement Annuity (GRA), Group Supplemental Retirement Annuity (GSRA), Retirement Annuity (RA)
L
and/or Supplemental Retirement Annuity (SRA) contracts.
Questions? Call 800-842-2252 or visit TIAA.org/tulane 13If you currently have an account with Fidelity
(continued)
If you currently receive retirement plan distributions
If you currently receive income or distribution payments from Fidelity, you will receive additional communications
if any actions are required.
Transfer chart for Fidelity account investments
How account balances will transfer
In-kind transfer
Tulane University, with a recommendation from Aon, selected investment options that are similar to those in the prior lineup
at Fidelity. On January 19, 2022, any account balances you have with Fidelity in the investments listed below are expected
to transfer in kind to your new TIAA account and the investment options as shown below. An in-kind balance transfer means
your holdings will not be sold and repurchased; your holdings will simply transfer from Fidelity to your new account with
TIAA, and remain fully invested during this period. You can change the way your existing balance is allocated once the
blackout period has ended.
Current investment on Fidelity platform Ticker Same investment on TIAA platform Ticker
DFA U.S. Targeted Value Portfolio Institutional DFFVX DFA U.S. Targeted Value Portfolio Institutional DFFVX
Dodge & Cox Stock DODGX Dodge & Cox Stock DODGX
PIMCO Inflation Response Multi-Asset Fund PIMCO Inflation Response Multi-Asset Fund
PIRMX PIRMX
Institutional Institutional
PIMCO Total Return PTTRX PIMCO Total Return PTTRX
Vanguard Emerging Markets Stock Index VEMIX Vanguard Emerging Markets Stock Index VEMIX
Vanguard Extended Market Index VIEIX Vanguard Extended Market Index VIEIX
Vanguard Federal Money Market VFMXX Vanguard Federal Money Market VFMXX
Vanguard Institutional Index VINIX Vanguard Institutional Index VINIX
Vanguard Real Estate Index VGSLX Vanguard Real Estate Index VGSLX
Vanguard Total Bond Market Index VBTIX Vanguard Total Bond Market Index VBTIX
Vanguard Total International Stock Index VTSNX Vanguard Total International Stock Index VTSNX
14 Questions? Call 800-842-2252 or visit TIAA.org/tulaneShare class change
Some of the Fidelity investment options will be directed to a lower-cost share class of the same fund, which can
lower investment expenses. There is no investment strategy difference between different share classes of the same
fund. Investing in a lower-cost share class means that less of your money goes toward fees. As a result, you keep
more of the potential return generated by an investment. While returns cannot be guaranteed, paying lower fees
may help you reach your retirement goals faster.
New share class investment on
Current investment on Fidelity platform Ticker Ticker
TIAA platform
Jackson Square SMID-Cap Growth
JSMTX Jackson Square SMID-Cap Growth Fund IS DCGTX
Fund Institutional
Oakmark International Investor OAKIX Oakmark International Institutional OANIX
T. Rowe Price Retirement 2005 TRRFX T. Rowe Price Retirement I 2005 I TRPFX
T. Rowe Price Retirement 2010 TRRAX T. Rowe Price Retirement I 2010 I TRPAX
T. Rowe Price Retirement 2015 TRRGX T. Rowe Price Retirement I 2015 I TRFGX
T. Rowe Price Retirement 2020 TRRBX T. Rowe Price Retirement I 2020 I TRBRX
T. Rowe Price Retirement 2025 TRRHX T. Rowe Price Retirement I 2025 I TRPHX
T. Rowe Price Retirement 2030 TRRCX T. Rowe Price Retirement I 2030 I TRPCX
T. Rowe Price Retirement 2035 TRRJX T. Rowe Price Retirement I 2035 I TRPJX
T. Rowe Price Retirement 2040 TRRDX T. Rowe Price Retirement I 2040 I TRPDX
T. Rowe Price Retirement 2045 TRRKX T. Rowe Price Retirement I 2045 I TRPKX
T. Rowe Price Retirement 2050 TRRMX T. Rowe Price Retirement I 2050 I TRPMX
T. Rowe Price Retirement 2055 TRRNX T. Rowe Price Retirement I 2055 I TRPNX
T. Rowe Price Retirement 2060 TRRLX T. Rowe Price Retirement I 2060 I TRPLX
Fund-to-fund transfer
Account balances from the funds listed below will be applied to a new investment option on the TIAA investment lineup
as of 3 p.m. (CT) on the date the balances are received in accurate and complete order. Your account in the funds below
will not be invested in the replacement funds for at least one business day. Upon completion of the transfer, you will
typically receive two confirmations: One from Fidelity showing the transfer of your balance out of your account; and a
second from TIAA, showing the balance applied to your TIAA account. You can change the way your existing balance is
allocated once the blackout period has ended.
Replacement investment
Current investment on Fidelity platform Ticker Ticker
on TIAA platform
Artisan Global Value Institutional APHGX Dodge & Cox Global Stock DODWX
Fidelity Growth Company K6 FGKFX T. Rowe Price Large-Cap Growth I TRLGX
See Disclosures beginning on page 24 for important details on Investment, insurance and
annuity products.
continued
Questions? Call 800-842-2252 or visit TIAA.org/tulane 15If you currently have an account with
Fidelity (continued)
What do I need to consider?
• Decide if you want to choose different investments.
Beginning January 4, 2022, you can change the way future contributions are directed. Once the
blackout period ends (expected to be the week of January 31, 2022), you can make changes to the
transferred balances in your new TIAA account.
• Check your beneficiary designation.
It’s important to check your beneficiary information to make sure it’s up to date.
• Attend an informational webinar.
Learn more about the retirement program changes. See page 21 for a schedule.
• Get retirement advice.
Receive retirement plan investment advice at no additional cost to you. See page 22 for details.
What happens if I do nothing?
In most cases, your future contributions and existing balances will be directed to the same investment options you
currently have, but in your TIAA account. Your beneficiary designation will remain in effect if you currently have a
plan account solely with Fidelity.
16 Questions? Call 800-842-2252 or visit TIAA.org/tulaneAdditional information for retirees and
separated employees
As a participant in the Tulane University retirement program, it is important that you stay informed about all the
investment and service updates. Whether you invest with Fidelity or TIAA, be sure to review the information that applies
to your retirement account.
As with active employees, account balances for retirees and separated employees with balances at Fidelity will also
transfer to TIAA. Please see pages 13-16 for details on how your balances will transfer.
Distribution information
If you currently receive income or distribution payments from Fidelity, the plans will continue to offer the same
retirement income options, and you will receive a separate communication if any action is required on your part.
Advantages of staying in the plans
Investment oversight
Tulane provides ongoing oversight of investments offered through the plans (except the brokerage
option).1 This oversight entails a regular review of the investment menu and making changes as
appropriate based on the plans’ investment criteria.
Lower-cost investments
Most investments in the plans are offered at the lowest-cost share classes available. While there is
no strategy difference between different share classes of the same fund, investing in a lower-cost
share class means that less of your money goes toward investment fees. As a result, you keep more
of the potential return generated by an investment. While lower fees do not necessarily result in
higher returns, paying lower fees may help you reach your retirement goals faster.
Help when you need it
When you have questions or need information, TIAA Financial Coaches are available to assist you.
One-on-one virtual counseling sessions offer retirement planning information, help and resources
at no additional cost to you. Please call 800-732-8353, weekdays, 7 a.m. to 7 p.m. (CT), to
schedule an appointment.
To access your TIAA account for the first time
1. Go to TIAA.org/tulane and select Log in.
2. Select Register for online access and follow the instructions to access your account.
3. You will have the option to update beneficiary information and investment choices.
If you prefer to make beneficiary or investment changes over the phone, have questions or would like
information about updating your account, call TIAA at 800-842-2252, weekdays, 7 a.m. to 9 p.m. (CT).
1
Important note: Funds available through the self-directed brokerage option are not monitored by Tulane University. These investments are
made outside of the plans. Tulane is not responsible for monitoring investment performance or fees of any of the mutual funds accessed through
the self-directed brokerage option. Investments in funds available through this option may be extremely risky, and you should only consider this
option if you are a sophisticated investor. Tulane has no responsibility to ensure the investments you select through the brokerage option are
sound or are appropriate for you.
Questions? Call 800-842-2252 or visit TIAA.org/tulane 17Self-directed brokerage option
If you are an experienced investor who wants more Monitoring your self-directed brokerage
investment choices, you can open a self-directed investments and account
brokerage account through the Tulane University
retirement program. Establishing a self-directed Funds available through the self-directed brokerage option
brokerage account can allow you to independently are not monitored by Tulane. These investments are made
research and select from a wide range of mutual outside of the Tulane retirement plans. Tulane is not
funds across several asset classes outside of the plans’ responsible for monitoring investment performance or fees
investment lineup. It also includes many of the funds no of any of the mutual funds accessed through the self-directed
longer available through the Tulane University retirement brokerage option. Investments in funds available through this
plans’ lineup for Fidelity participants. You can view the option may be extremely risky, and you should only consider
list of mutual funds by going to the dedicated website at this option if you are a sophisticated investor. Tulane has
TIAA.org/brokerage. no responsibility to ensure that the investments you select
through the brokerage option are sound or appropriate for
The self-directed brokerage option will be available in the
you. In addition, TIAA doesn’t offer investment advice for
new accounts and existing accounts on the TIAA platform,
balances in these accounts.
and you can transfer and/or allocate up to 90% of any
available balance to your self-directed account. It is important to consider whether or not you have the time
and experience necessary to manage your own investments
Brokerage costs in the self-directed brokerage account.
If you choose to invest through the self-directed brokerage
account option, there may be commissions on transactions
(trading) and other account-related fees. Visit TIAA.org/ Before investing in a self-directed
SDA_CAA for a complete list of commissions and fees. In brokerage account
addition, there are specific fund fees and expenses that may Learn more about a self-directed brokerage
apply. These are described in each fund’s prospectus. account by contacting TIAA at 800-927-3059,
Please note: Transaction fees associated with the weekdays, 7 a.m. to 6 p.m. (CT).
self-directed brokerage account option will be waived
in 2022 for all Tulane University retirement plan
participants and will resume in 2023.
If you currently invest in the self-directed brokerage account option at Fidelity, a new TIAA self-directed
brokerage account will be automatically set up for you and your balances will transfer in kind (if available).
With the in-kind transfer, your holdings will not be sold and repurchased; your holdings that transfer from
Fidelity to TIAA will remain fully invested during the transfer period.
See Disclosures beginning on page 24 for important details on Brokerage services.
18 Questions? Call 800-842-2252 or visit TIAA.org/tulaneIf you currently have an account with TIAA
New investment options available
The new investment options listed below were added to the lineup on November 22, 2021.
New investment option Ticker
DFA U.S. Targeted Value Portfolio Institutional DFFVX
Dodge & Cox Stock DODGX
Jackson Square SMID-Cap Growth Fund IS DCGTX
Oakmark International Institutional OANIX
PIMCO Inflation Response Multi-Asset Fund Institutional PIRMX
PIMCO Total Return PTTRX
T. Rowe Price Large-Cap Growth I TRLGX
T. Rowe Price Retirement I 2065 I TRFKX
Vanguard Real Estate Index VGSLX
What do I need to consider?
• Decide if you want to choose different investments.
You can change the way future contributions and existing balances are directed.
• Access new services.
Review pages 3-11 for important information on new services available to the retirement plans beginning
January 14, 2022.
• Check your beneficiary designation.
You will want to ensure this important information is accurate.
• Attend an informational webinar.
Learn more about the retirement program changes. See page 21 for a schedule of sessions.
• Get retirement advice.
Receive retirement plan investment advice at no additional cost to you. See page 22 for details.
What happens if I do nothing?
While there are no changes to your account, you can now take advantage of the new services and investments added to
the retirement plans. See pages 3-11 for more details.
See Disclosures beginning on page 24 for important details on Investment, insurance and
annuity products.
Questions? Call 800-842-2252 or visit TIAA.org/tulane 19Resources and
information to
help you
20Informational events
Learn more and get answers to your questions
These online events can help you learn about the upcoming retirement program changes. TIAA will be available to
answer your questions. You will also have an opportunity to schedule a one-on-one investment advice session with
a TIAA Financial Coach. Additional information will be communicated in 2022 for any in-person seminars offered
on site at Tulane University.
Webinars
Date Time (CT) Location
9 a.m. – 10 a.m.
February 7, 2022
12 p.m. – 1 p.m. To join the meeting at the scheduled start time
or add the meeting to your calendar, go to
10 a.m. – 11 a.m.
February 8, 2022 TIAA.org/tulane/plan-changes and select
2 p.m. – 3 p.m. Informational events. Choose the event you
8 a.m. – 9 a.m. wish to attend and complete the registration
February 9, 2022 information. Once registered, you will be
1 p.m. – 2 p.m.
provided the information to add the event to
9 a.m. – 10 a.m. your calendar.
February 10, 2022
1 p.m. – 2 p.m.
On-demand presentation
A recording of the presentation will also be available to accommodate your schedule. Starting February 8, 2022, go to
TIAA.org/tulane/plan-changes and select Informational events.
Questions? Call 800-842-2252 or visit TIAA.org/tulane 21Retirement planning resources
Get personalized investment advice on your Tulane University retirement plan investment
options from a TIAA Financial Coach.
One-on-one meetings
Whether you’re just starting out or close to retirement, have had a recent life change or just want to make sure
you’re on track, you can meet online, by phone or virtually to discuss your financial goals and how to plan for
them. This service is available to you at no additional cost.
Schedule an investment advice session by visiting TIAA.org/schedulenow, or call 800-732-8353, weekdays,
7 a.m. to 7 p.m. (CT).
Online tools
Visit TIAA.org/tools for convenient resources that can help you on the path to retirement. You supply the
information, and the tools do the rest.
Create your own retirement Discover your retirement Track all of your accounts
action plan income needs in one place
Explore the Retirement Advisor Try out the Retirement Income Use the 360° Financial View to:
tool: Illustrator to: • Consolidate your information
• Receive a custom retirement plan • Find out how much of your from more than 11,000 financial
in five steps current income you may need institutions in one place
to replace in order to cover • Track your spending
• Receive savings and investment
retirement expenses
recommendations • Set up email alerts
• Explore your retirement income
options • Create a budget that works for you
• See your estimated monthly
retirement income and learn how
to maximize it
See Disclosures beginning on page 24 for important details on Advice (legal, tax, investment).
22 Questions? Call 800-842-2252 or visit TIAA.org/tulaneWe’re here to help
Not sure where to begin? Let us help you take the next step!
Manage your account Schedule an investment advice session
Online Online
Visit TIAA.org/tulane and Log in. If you’re new Visit TIAA.org/schedulenow.
to TIAA, select Log in, then Register for online
access. Follow the on-screen directions to access
your account.
Phone Phone
Call TIAA at 800-842-2252, weekdays, Call 800-732-8353, weekdays,
7 a.m. to 9 p.m. (CT). 7 a.m. to 7 p.m. (CT).
Take your planning with you using the TIAA mobile app.
Questions? Call 800-842-2252 or visit TIAA.org/tulane 23Disclosures Advice (legal, tax, investment) The TIAA group of companies does not provide legal or tax advice. Please consult your legal or tax advisor. Advice provided by our Field Consulting Group is obtained using an advice methodology from Morningstar Investment Management, LLC. Advice services provided by our Individual Advisory Services Group are provided by Advice & Planning Services, a division of TIAA-CREF Individual & Institutional Services, LLC, a registered investment adviser. Individual Advisory Services may not be available to all participants. Advisory services through Individual Advisory Services are a fee-for- services charge to the employee. Advice is provided on your employer-sponsored retirement plans administered by TIAA. TIAA does not monitor your retirement assets on an ongoing basis, nor does TIAA update your information on the Retirement Advisor tool to reflect changes in your personal circumstances. You should periodically monitor your retirement strategy as your needs and personal circumstances change. Results are not guaranteed and do not reflect actual returns on any investment. The TIAA Retirement Advisor is not a substitute for tax, legal or comprehensive financial planning advice. The TIAA Retirement Advisor is a brokerage service provided by TIAA-CREF Individual & Institutional Services, LLC, a registered broker-dealer, Member FINRA, SIPC. The projections or other information generated by TIAA’s online tools regarding the likelihood of various investment outcomes, investment allocations and retirement income are hypothetical in nature, do not reflect actual results and are not guarantees of future results. Results may vary with each use and over time. Brokerage services The brokerage account option is available to participants who maintain both a legitimate U.S. residential address and a legitimate U.S. mailing address. Certain securities may not be suitable for all investors. Securities are subject to investment risk, including possible loss of the principal amount invested. By opening a brokerage account, you will be charged a commission only on applicable transactions and other account-related fees in accordance with the TIAA Commission and Fee Schedule. Please visit TIAA.org/SDA_CAA. Other fees and expenses apply to a continued investment in the funds and are described in the funds’ current prospectuses. Some securities may not be suitable for all investors. TIAA Brokerage, a division of TIAA-CREF Individual and Institutional Services, LLC, Member FINRA and SIPC, distributes securities. Brokerage accounts are carried by Pershing, LLC, a subsidiary of The Bank of New York Mellon Corporation, Member FINRA, NYSE, SIPC. Distributions and withdrawals Subject to plan terms, employer contributions invested in custodial accounts (mutual funds) and elective deferrals may not be paid to a participant before the participant has a severance of employment, dies, becomes disabled, attains age 59½ or experiences a hardship. Employer contributions invested in annuity contracts may generally be distributed upon severance of employment or upon occurrence of a stated event in the plan. Fees and expenses Plan servicing fees can be deducted from investment options in Retirement Choice and Retirement Choice Plus contracts. However, plan servicing fees cannot be deducted from annuities in Retirement Annuity, Group Retirement Annuity, Supplemental Retirement Annuity and Group Supplemental Retirement Annuity contracts. Investment, insurance and annuity products Investment products may be subject to market and other risk factors. See the applicable product literature, or visit TIAA.org and enter a ticker symbol in the site’s search feature for details. Some investment options may have redemption and other fees. See the fund’s prospectus for details. TIAA Traditional Annuity is a guaranteed insurance contract and not an investment for federal securities law purposes. Any guarantees under annuities issued by Teachers Insurance and Annuity Association of America (TIAA) are subject to its claims-paying ability. Interest credited includes a guaranteed rate plus additional amounts as may be established by the TIAA Board of Trustees. Such additional amounts, when declared, remain in effect for the “declaration year,” which begins each March 1 for accumulating annuities and January 1 for payout annuities. Additional amounts are not guaranteed for periods other than the period for which they were declared. You could lose money by investing in the CREF Money Market Account. Because the accumulation unit value of the Account will fluctuate, the value of your investment may increase or decrease. An investment in the Account is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Account’s sponsor has no legal obligation to provide support to the Account, and you should not expect that the sponsor will provide financial support to the Account at any time. You could lose money by investing in the Money Market Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time. 24 Questions? Call 800-842-2252 or visit TIAA.org/tulane
This material is for informational or educational purposes only and does not constitute fiduciary investment advice under ERISA, a securities
recommendation under all securities laws, or an insurance product recommendation under state insurance laws or regulations. This material
does not take into account any specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment
decisions should be made based on the investor’s own objectives and circumstances.
Investment, insurance, and annuity products are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal
government agency, are not a condition to any banking service or activity, and may lose value.
You should consider the investment objectives, risks, charges, and expenses carefully before investing. Please call
877-518-9161 or go to TIAA.org/tulane for current product and fund prospectuses that contain this and other
information. Please read the prospectuses carefully before investing.
TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distributes securities products. Annuity contracts and certificates are issued
by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Each is solely
responsible for its own financial condition and contractual obligations.
©2021 Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, 730 Third Avenue, New York, NY 10017
Questions? Call 800-842-2252 or visit TIAA.org/tulane 25MT1538913 1879542 1604300-TG (12/21)
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