- New default investment option: Iowa State RetireOnTrack. This new service automatically manages your investments, making it easier for you to stay on track with your retirement goals, and includes the option for guaranteed income payments for life when you retire. Participation in Iowa State RetireOnTrack is optional — you continue to have the freedom to make your own, or different, investment decisions. However, the Iowa State RetireOnTrack moderate portfolio will become the default option for Iowa State TIAA participants who do not make a different investment election during the transition.
- New investment options, with lower fees. Some of the current investment options will be replaced. The new investment lineup will offer carefully selected options you can use to create your own investment strategy. Several options come with reduced costs. With reduced fees, the overall cost of participation in the retirement program is less — a benefit in helping you reach your savings goals.
- New self-directed brokerage option. This new feature allows you to invest a portion of your balance in a self-directed brokerage account, giving you access to thousands of mutual funds. If you’re an experienced investor seeking more investment choices, the brokerage account may appeal to you. This option also may appeal to you if you have specific investment preferences outside the core investment funds.
This is the perfect time to make the most of your retirement benefits. The new enhancements provide an opportunity for you to revisit your retirement plan goals to see how the plan changes may benefit you. Look for more information coming from TIAA in early March, including a detailed transition guide that contains valuable information such as key dates, specific action steps, upcoming information sessions, and other available resources.
Be on the lookout for more detailed information from ISU and TIAA in the weeks ahead
