January, 2011: Fidelity and TIAA-CREF Quarterly Statements (dated 12/31/2010) will be mailed to the home addresses of all current participants. Keep these documents as a reference when you are meeting with your financial advisor and/or deciding which funds you want to invest your current and future contributions.
February 15, 2011: Watch your mail for Fidelity and TIAA-CREF Transition Brochures which will be sent to all participants who currently have a balance in either the Tufts University 401(a) Basic and/or 403(b) Voluntary Retirement Plans.
March 1, 2011: The new investment Core Fund lineup will be available to all participants, including the Fidelity BrokerageLink account. You can change your current and/or future investment fund allocations online directly at www.fidelity.com/atwork or www.tiaa-cref.org. You will have until 4:00 p.m. on April 28, 2011, to change your investment allocations for future contributions utilizing the Fidelity Lifecycle funds, the Core Funds, and/or BrokerageLink.
April 28, 2011: As of 4:00 p.m., all future investment allocations and exchanges for current balances will be limited to the Core Fund lineup, Fidelity Lifecycle Funds, or a Fidelity BrokerageLink account.
No future contributions or exchanges will be allowed into non-core funds unless you have set up a BrokerageLink account.
Future investment allocations to non-core TIAA-CREF funds will be redirected to the current Plan default, an appropriate target date Fidelity Lifecycle Funds.
April 28 – July 28, 2011: Some of the Fidelity funds in the current line-up have short-term redemption fees if purchased and sold within a 90 day period; most funds do not. During this time, a 90-day waiting period will take place in order to avoid short-term trading fees. If you choose to trade during this period, please contact Fidelity to determine if your trade will be subject to a fee. Participants will maintain complete control over their accounts during this time.
July 14, 2011: You can set up a Fidelity BrokerageLink account at any time, however; it takes approximately two weeks to set up this account. In order to meet the July 28 th deadline, your request must be submitted to Fidelity by no later than July 14, 2011, in order to ensure that your assets outside of the Core Fund lineup can be transferred in-kind to the Fidelity BrokerageLink account. If you request a BrokerageLink account to be set up after July 14, 2011, all current balances in non-core funds at Fidelity will be liquidated and redirected to the current Plan default (Fidelity Lifecycle Fund). Then, once your BrokerageLink account is created, you will be able to purchase any of the non-core Fidelity funds previously offered in the Tufts University Retirement Plans.
July 27, 2011: If you currently have Fidelity K Share ‘institutional’ class funds that are not part of the Core Fund line-up, those K Share class funds will not available in the Fidelity BrokerageLink account. Therefore, at this time, all K Share class funds outside of the Core Funds will be converted to the ‘retail’ version of the fund before the conversion to the Fidelity BrokerageLink account or an age-appropriate target date Fidelity Lifecycle fund.
July 28, 2011:
CURRENT BALANCES AT FIDELITY: On July 28, 2011, any current balances at Fidelity which are invested in funds outside of the Core Fund lineup or the Fidelity Lifecycle funds, will be liquidated and invested in the Plan default (Fidelity Lifecycle Fund), unless a Fidelity BrokerageLink account has been created.
CURRENT BALANCES AT TIAA-CREF: On July 28, 2011, any current fund balances at TIAA-CREF outside of the Core Fund lineup will be maintained; no future contributions or exchanges can be made to those funds, however the balances will remain invested as originally directed.
July 29, 2011, and thereafter: All future contributions must be directed to a Fidelity Lifecycle Fund, the Core Fund lineup, or a Fidelity BrokerageLink account.