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Dec. 4, 2017

Reminder: Retirement Program Transition Guide mailing and salary reduction adjustment deadline

With the exciting changes coming to the University of Delaware Retirement Program, there are choices you may wish to take before the updates occur on January 5, 2018. The new tiered investment menu became available on September 1, 2017 to give participants a few months to learn about the new choices before the legacy options are closed to new money in 2018.

Beginning in January 2018, contributions to the legacy options, including all the options at Fidelity Investments, will no longer be permitted. You still have time to update your investment choices for your future contributions.

Key dates to take action:

Week of 12/4/17

A printed copy of the University of Delaware Retirement Program Transition Guide will be mailed to your address on file with the University. This guide explains the updates to the Program, and we encourage you to review this information to help make decisions about your financial future.


If you wish to change your salary deduction prior to January, you must complete and return the Salary Reduction Agreement form no later than December 15, 2017. This will take effect for the final pay in December. After December 15, 2017 you will need to submit changes through the TIAA portal, available January 8, 2018 as the current form will be discontinued.

If you have an account with Fidelity Investments, it’s the last day to request loans and hardship withdrawals from your account at Fidelity.

Week of 1/1/18

Please note beginning in 2018, a maximum of two outstanding loans will be allowed at any time. If you currently have more than one outstanding loan, you will need to pay back those loans before requesting a new loan.

1/5/18 at 4 p.m. ET

The Investment Election Period ends.
If you make no changes to your investments, your future contributions and existing account balances in some situations (listed in your transition guide) will transfer to a target date fund (the Retirement Program’s default fund) that most closely matches the year you turn age 65.

In some instances, your contributions may continue to be invested in one of the four annuity options that are part of the new lineup, or if you contribute to both Fidelity and TIAA, your contributions may be blended. Please refer to the transition guide or contact TIAA for more details.

For more information about these next steps, please review the Transition Guide.


Darcell Griffith
Interim Chief Human Resources Officer

Human Resources

This message has been approved by Darcell Griffith, interim chief human resources officer