Q & A with Financial Design

TIAA Mailing - Q&A Session

TIAA recently sent retirement plan participants a mailing regarding an updated investment menu. This update includes investments that have been selected to give all participants the ability to create a diversified retirement portfolio at the lowest cost-share possible. As part of its fiduciary responsibility, Heidelberg University must review the investment options including the cost share of each option. With the advice and guidance of both TIAA and Financial Design the new investment menu was developed and all participating retirement plan members received a mailing with the details of the new platform. For most participants, no action is needed and transfers to the new investment options will occur automatically the week of August 5th. For example, if you have an investment in BlackRock High Yield Bond Portfolio (BHYRX), your balance will automatically transfer to Principal High Yield Fund (PHYFX). If you have specific funds that are not able to be automatically transferred and need to take a specific action, your mailing would have included that information. That situation is very rare.