AIG Valic and AUL No Longer Approved Investment Companies for the IU Tax Deferred Annuity Plan
Due to new regulatory compliance requirements and the need to be as efficient as possible in administering Indiana University retirement plans, AIG Valic and AUL will no longer be approved investment companies for the IU Tax Deferred Annuity Plan (TDA Plan) effective June 1, 2009. The investment companies approved to receive contributions for the TDA Plan as of June 1, 2009, will be Fidelity and TIAA-CREF. These companies offer over 200 annuity and mutual fund investment choices, including domestic and international money market, bond, equity, specialty and mixed funds. In addition, TIAA-CREF and Fidelity are available to provide professional investment counseling by appointment.
What Do You Have to Do?
You must choose one or both of these approved investment companies to receive your contributions to the TDA Plan and choose the investment funds in which you want your retirement funds invested. Most of this process can be completed electronically on OneStart Self Service or you can print and return the required forms. For step-by-step instructions just click on the first attachment above titled “Instructions for TDA Vendor and Fund Selections”. Be sure to take action as soon as possible because it takes up to thirty days to process your request and implement your new directions.
How Can You Get Assistance in Making These Decisions?
Individual investment counseling is available from licensed professionals at both Fidelity and TIAA-CREF. At www.indiana.edu/~uhrs/benefits/retirement-counseling.htm you will find information on how to sign-up for a session on-line or how to make an appointment by phone.
Investment fund information is also available at the following websites.
For TIAA-CREF go to
http://enroll.tiaa-cref.org/indiana/setup_home.html
For Fidelity go to
http://personal.fidelity.com/products/funds/content/FidelityMutualFunds/browse_funds.shtml.cvsr
or
https://www.mysavingsatwork.com/atwork/1080912163747/1082986687661.htm
What Happens if You Do Not Choose a New Investment Company(ies) and Investment Fund Options?
If you do not take action at least thirty days prior to your June contribution to the TDA Plan, your June contribution and contributions thereafter will be defaulted to TIAA-CREF’s age-appropriate LifeCycle Fund©.
What Happens to the Money You Already Have Invested with AIG Valic and AUL?
Your existing investments remain at AIG Valic and AUL unless you elect to transfer those assets to TIAA-CREF or Fidelity. TDA Plan rules still apply to money that remains at AIG Valic and AUL, and those rules remain the same except that loans will no longer be allowed from account balances invested with AIG Valic and AUL. If you want to take out a loan you will have to move your existing assets to Fidelity or TIAA-CREF.
If you have any questions or need assistance, you may contact Michelle White at 812/856-4100 or mbwhite@indiana.edu.
Cristy S. Wheeler
University Director, Retirement Program Services
Indiana University
