Important information and changes to the Princeton ...
[Pages:16]Important information and changes to the Princeton University Retirement Plans
Table of contents
Overview of changes............................................................ 4 What to expect for
TIAA participants............................................................ 5 Vanguard participants..................................................... 6 Retirees......................................................................... 8 Investment options.............................................................. 9 Retirement plan investment advice..................................... 13 Frequently asked questions.................................................14 Account information............................................................16
A message from Princeton University
Helping you plan and save for your financial future is very important to us. That's why we're pleased to offer enhancements to the Princeton University Retirement Plans. By consolidating our recordkeeping with one recordkeeper, TIAA, we can:
? Offer the same investment options you have today (including Vanguard funds) while reducing your investment fees.
? Provide all your University Retirement Plan account information in one online location.
? Reduce paperwork and time needed to transfer dollars between investments, take out loans or make withdrawals.
? Offer automatic rebalancing, which rebalances your retirement plan portfolio periodically to keep your investment mix in line with your original goals.
Please review the important dates and information on the following pages and consider any actions you may want to take as you balance your needs today with the need to save and invest for tomorrow.
Princeton University Office of Human Resources
Questions? Call 800-842-2252 or visit princeton 3
Overview of changes
One source for managing your account
You'll be able to conveniently view all of your investment options and make transactions through TIAA. There will be one website, one participant services phone number and one consolidated statement each quarter. From the TIAA website, you'll access your retirement account information, as well as review and select investment options from both Vanguard and TIAA.
Lower investment costs help you save
All TIAA and Vanguard investments will remain as investment options available through the Retirement Plans. The investment fees on most Vanguard funds will be reduced. While the TIAA investments are already at the lowest-cost share class available, the consolidation of plan services through TIAA allows for most of the Vanguard funds to also move to a lower-cost share class.
Expanded retirement information and advice services
Whether you're just starting your career or already retired, you'll have access to helpful resources, such as online communities for women and retirees, financial calculators and the 360? Financial View, an online tool that helps you budget and manage your finances by tracking income, bills, financial accounts and net worth.
Personalized advice is also available on all of the Plans' investment options at no additional cost to you.
Investing insight
What's the benefit of a lower-cost share class? Investing in a lower-cost share class of a fund means you pay less for investment fees and a higher percentage of any potential return stays invested. For example, a reduction of 0.10% in mutual fund fees would result in annual savings of $10 each year for every $10,000 invested. If your account is worth $100,000, you would save approximately $100 a year in mutual fund fees. While returns can't be guaranteed, paying lower fees can help your savings add up over time.
4 Princeton University
What to expect if you currently invest with TIAA
No action is required at this time
While no action is required on your part, you should regularly review your account information and consider whether you'd like to make any investment or beneficiary changes.
A new benefit to TIAA participants
You will now be able to view and easily invest in Vanguard funds through TIAA.
Date to note:
Date June 20, 2016
Event
You will be able to view all of the Plans' investments (including Vanguard funds) through your TIAA account.
Questions? Call 800-842-2252 or visit princeton 5
What to expect if you currently invest with Vanguard
No action is required at this time
All Vanguard funds will automatically transfer to the Princeton University Retirement Plans on TIAA's recordkeeping platform. Your current investment strategy, investment elections and beneficiary information will not change. Once the transfer is complete, you will receive a confirmation by mail from TIAA. See the Investment Transfer Strategy insert for additional details.
While no action is required on your part, you should regularly review your account information and consider whether you'd like to make any investment or beneficiary changes.
A new benefit--reduced investment costs
By consolidating all plan administration to a single recordkeeper, TIAA, the same Vanguard funds will continue to be offered, but most will be at a new, lower-cost share class. If you are invested in any of these funds, your current assets and future contributions will be automatically directed to the lower-cost share class of the same Vanguard fund.
Restrictions during the "Blackout Period"*
There will be a brief period of time during which your Vanguard funds will move to the recordkeeping platform through TIAA and you will not be able to make changes to your Vanguard account. This occurs from approximately July 8 through July 25. You will not be able to change your investments, make withdrawals or transfer funds during this time; however, scheduled payroll contributions will continue and your assets will remain invested. See the enclosed Important Notice for additional information on the Blackout Period.
If you currently have accounts with both Vanguard and TIAA, the Blackout Period will only affect your Vanguard account.
What happens if I currently invest in both Vanguard and TIAA? After the transition, your Vanguard investments will reside on the recordkeeping platform through TIAA. Your future contributions will not change. During the transfer period (Blackout Period), you will not have access to your Vanguard investments or account. Your beneficiary information will default to the information you have on file for your TIAA account. You may log in to your existing TIAA account to update your beneficiary at any time.
*Important note: The start and end of the Blackout Period depend on the accurate, timely transfer of assets and data from Vanguard to TIAA. If this does not occur, these dates may be delayed.
6 Princeton University
Dates to note:
Date July 5, 2016
July 8, 2016 (4 p.m. ET)
July 13, 2016
July 15, 2016
July 25, 2016
Event
You now have access to your TIAA account and a "Welcome Kit" will be mailed to you. It includes important information on TIAA and how to access your TIAA account (account access information is also provided on the back cover of this guide).
The Blackout Period is expected to begin. Refer to the Investment Transfer Strategy insert and review the enclosed Important Notice for more information.
If you plan to make changes to your account, such as setting up systematic distributions, you should plan ahead and make any changes before or after the Blackout Period.
All future contributions (both yours and any from Princeton University) will be directed to the same Vanguard funds now available to you through your new account with TIAA.
Vanguard assets will be transferred in-kind and reregistered as they move to TIAA. Your account will remain fully invested through this transfer process. A confirmation statement will be mailed to you from TIAA containing details of the transfer once completed.
The Blackout Period for Vanguard assets is expected to end on or before this date. You can access your TIAA account to change investments and allocations, as well as review your beneficiary information at princeton.
Investing insight
360? Financial View online tool
Use the 360? Financial View online tool to help manage your entire financial life. You can view all of your financial assets, whether from another employer's retirement plan, a personal brokerage account, an IRA, a 529 college savings plan or your bank and credit accounts. You can get a complete picture of your finances, monitor your savings progress, track spending, set up email alerts or manage a budget. Visit princeton, select Log In, go to My Account and select 360? Financial View.
Questions? Call 800-842-2252 or visit princeton 7
What to expect if you are a retiree
As a participant in the Plans, it's important that you stay informed on all the investment and service updates. Whether you invest in TIAA and/or the Vanguard investment options, be sure to review the information that applies to your retirement account(s).
Distribution information
If you currently receive income or distribution payments from Vanguard or TIAA, there should be no change or interruption to your payments or payment schedule as administration of the Plans moves to TIAA. The Plans will continue to offer the same retirement income options.
Advantages of staying in the Plans Investment oversight
Princeton University provides ongoing oversight of all investments offered through the Plans. You can be assured that all investments are reviewed on a regular basis and changes are made, when needed, based on the Plans' investment criteria.
$ Low-cost fees Most Vanguard and TIAA investments are offered at the lowest available share class (lowest cost). Minimizing investment expenses helps keep more of your current savings invested and working for you. Help when you need it When you have questions or need information, TIAA financial consultants are available to assist you. One-on-one consultations may be scheduled so you can get the retirement planning information, help and resources you need at no additional cost to you. Call 800-732-8353 weekdays from 8 a.m. to 8 p.m. (ET) to schedule a consultation.
8 Princeton University
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