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The DePaul University 403(b) Plan will move to a single service provider in July
2021. All new contributions to the Plan will be directed to accounts with Fidelity
Investments.
What do I need to do?
There is no action required from you during this transition. However, there are some items to consider:
Future Contributions: All plan contributions will be directed to Fidelity Investments after the July 16, 2021 pay period. If no investment elections are on file, your contributions will be directed to a target date fund based on your date of birth. See page 3.
Be aware of what investments will transfer. As a current TIAA Plan participant, depending on which investments you hold in your account, some of your investments may move to an account at Fidelity and others will remain with TIAA.
All mutual fund investments in TIAA accounts will be transferred to Fidelity. All annuity options will remain at TIAA. Please review the How will my money transfer? section of this guide beginning on page 2 to determine which of your current holdings will transfer and which will not.
If you currently invest in TIAA annuity options and would like to move your full account balance to Fidelity, you may request a manual transfer of your account in July.
If you prefer to keep your balance fully with TIAA, you will need to transfer any mutual fund balances to annuity options prior to July 16, 2021. Please note, if you are an active employee, your new contributions to the Plan after your July16, 2021 payroll will still be directed to Fidelity even if you make changes to your account to prevent existing balances from transferring.
Designate your beneficiary at Fidelity. Beneficiary information on file with TIAA will not transfer to Fidelity so it is important for you to establish your beneficiaries at Fidelity. With Fidelity’s Online Beneficiaries Service, you can designate your beneficiaries, receive instant online confirmation, and check your beneficiary information virtually any time. Log on to netbenefits.com/DePaul or call Fidelity at 800-343-0860 before or after the transfer to designate your beneficiary.
Key dates*
Last contribution madeto TIAA accounts Blackout period begins Asset transfer TIAA blackout period ends, Fidelity account available July 15, 2021
Final payroll
contributions to TIAA accounts will be made. After this pay period, all new contributions will be made to accounts at Fidelity.
July 16, 2021 at 3 p.m. CT
Plan accounts at TIAA will enter a blackout period during which no transactions or changes to your account can be made.
July 21, 2021 at 3 p.m. CT
Your mutual fund account balance at TIAA is valued for the transfer to Fidelity.
July 22, 2021
Your TIAA mutual fund account balance is scheduled to transfer to Fidelity. See the How will my
money transfer?
section on page 2.
Week of July 26, 2021
Blackout period ends in TIAA accounts.
Week of August 8, 2021
Your account at Fidelity is now available for all transactions. The Fidelity Retirement Service Center and Fidelity NetBenefits® website will open
for all services.
*The timing of the plan changes and transition period, including any asset reallocations, described within this brochure depends on a variety of factors, which may include: the timing and accuracy of the transfer of data, receipt of instructions, and receipt of assets. Changes in any of these factors may result in changes to the timing of the delivery of services, the transition period, and/or the dates on which, and thus the prices at which, assets in your account are sold and/or reinvested.
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How will my money transfer?
Before investing in any investment option, consider the investment objectives, risks, charges, and expenses. Contact Fidelity for a mutual fund or variable annuity prospectus or, if available, a summary prospectus containing this information. Read it carefully.
As a current TIAA Plan participant, depending on the investment options in which you are currently invested, some of your investments will move to an account at Fidelity and others will remain with TIAA.
For investments that will move to Fidelity, depending on the mutual funds in which you are currently invested, some of your investments may change. Some investments will be sold and reinvested in new investment options. Others will transfer to the same investment option (called a reregistration, or in-kind transfer). Different investment options may have different transfer methods, and some options may be out of the market for a day or more, while others will remain fully invested during the transition. Changes could occur during the transition period that could result in changes to the asset transfer strategy described here.
Information about each investment option’s risk, as well as its strategy and goal can be found in the Investment Options Guide on the Key Dates and Details Tab of the transition website at myfidelitysite.com/DePaul. When the transition is complete, you can also find investment information after logging in to your account on Fidelity NetBenefits at
netbenefits.com/DePaul. Please review all investment information before making any investment choices. Investments that are not changing
Balances in the current investment options listed on the left of the chart below will not transfer and will continue to be available in the Plan at TIAA. For active employees, future contribution elections in annuity options at TIAA will be directed to a target date fund at Fidelity unless you make alternate elections within your Fidelity account prior to July 21, 2021.
Balances invested in the options on the right side of the chart as of July 21, 2021 will transfer to the same fund at Fidelity.
Annuity investments that will remain in
your account at TIAA Investments that will transfer in-kind to Fidelity
CREF Money Market R2 CREF Bond Market R2 CREF Inflation-Linked Bond R2 CREF Social Choice R2 CREF Stock R2 CREF Equity Index R2 CREF Growth R2 CREF Global Equities R2 TIAA Real Estate TIAA Traditional
BNY Mellon Small/Mid Cap Growth Fund Class Y Harbor Capital Appreciation Fund Retirement Class Loomis Sayles Core Plus Bond Fund Class N MFS International Intrinsic Value Fund Class R6 MFS Value Fund Class R6
Vanguard Federal Money Market Fund Investor Shares1
Vanguard Growth Index Fund Institutional Shares
Vanguard Institutional Target Retirement Date Funds Institutional Shares (all years)
Vanguard Institutional Target Retirement Income Fund Institutional Shares Vanguard Real Estate Index Fund Institutional Shares
Vanguard Small-Cap Growth Index Fund Institutional Shares Vanguard Total International Stock Index Fund Institutional Shares Wells Fargo Emerging Markets Equity Fund - Class R6
1You could lose money by investing in a money market fund. Although the fund seeks to preserve the value of your
investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund’s sponsor has no legal obligation to provide financial support to money market funds and you should not expect that the sponsor will provide financial support to the fund at any time.
3 Investment options that are changing
When the market closes at 3 p.m. CT on July 21, 2021, the investment option on the left side of the chart offered through the DePaul Retirement Plan will no longer be available.
As a result, current account balances in these investments will be liquidated and transferred to the new option on the right of the chart at Fidelity on July 22, 2021. Once the blackout period has ended during the week of August 8, 2021, all services will be available, including the ability to make investment changes within your account.
EXISTING INVESTMENT OPTION NEW INVESTMENT OPTION
Vanguard Total Bond Market Index Fund Institutional Shares ► Fidelity US Bond Index Fund Vanguard Institutional Index Fund Institutional Shares ► Fidelity 500 Index Fund
Vanguard Short-Term Federal Fund Admiral Shares ► Fidelity® Short-Term Treasury Bond Index Fund
Investment options that are moving to a new share class
Investment options on the left side of the chart offered through the DePaul Retirement Plan at TIAA will continue to be available at Fidelity but will transfer to a different share class on July 22, 2021.
EXISTING INVESTMENT OPTION NEW SHARE CLASS AT FIDELITY
Vanguard Inflation-Protected Securities Fund Admiral
Shares ► Vanguard Inflation-Protected Securities Fund Institutional Shares
Vanguard Small Cap Value Index Fund Admiral Shares ► Vanguard Small-Cap Value Index Fund Institutional Shares
TIAA Brokerage assets will transfer to Fidelity BrokerageLink®
Assets in the TIAA self-directed brokerage option will transfer to the Fidelity BrokerageLink. If you currently hold brokerage assets in your TIAA account, you will receive a separate communication with the details specific to your brokerage account transfer. The packet will include a Participant Acknowledgement Form to complete and return to Fidelity to enable trading within your BrokerageLink® account.
Future contributions to your Fidelity account
Beginning July 10, you many log in to netbenefits.com/DePaul or contact Fidelity at 800-343-0860 to make your future contribution elections from the new investment lineup if you prefer an investment other than a target date fund. If no elections are on file, new contributions to your account beginning with your July 26, 2021 pay period will be directed to a target date fund based on your date of birth on file at Fidelity Investments. Please use the chart below to determine the target date fund to which your future contributions will be directed.
Year of birth Target Date Fund Name
1947 and before Vanguard Institutional Target Retirement Income Fund Institutional Shares 1948-1952 Vanguard Institutional Target Retirement 2015 Fund Institutional Shares 1953-1957 Vanguard Institutional Target Retirement 2020 Fund Institutional Shares 1958-1962 Vanguard Institutional Target Retirement 2025 Fund Institutional Shares 1963-1967 Vanguard Institutional Target Retirement 2030 Fund Institutional Shares 1968-1972 Vanguard Institutional Target Retirement 2035 Fund Institutional Shares 1973-1977 Vanguard Institutional Target Retirement 2040 Fund Institutional Shares 1978-1982 Vanguard Institutional Target Retirement 2045 Fund Institutional Shares 1983-1987 Vanguard Institutional Target Retirement 2050 Fund Institutional Shares 1988-1992 Vanguard Institutional Target Retirement 2055 Fund Institutional Shares 1993-1997 Vanguard Institutional Target Retirement 2060 Fund Institutional Shares 1998 and after Vanguard Institutional Target Retirement 2065 Fund Institutional Shares
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Your Plan’s Investment Lineup at Fidelity
“Help me manage my investments”
Tier 1: Target Date Funds
The Vanguard Institutional Target Retirement Date Funds Institutional Shares are designed for investors expecting to retire around the year indicated in each fund’s name. The funds are managed to gradually become more
conservative over time as they approach the target date. The investment risk of each target retirement fund changes over time as the fund's asset allocation changes. The funds are subject to the volatility of the financial markets, including that of equity and fixed income investments in the U.S. and abroad, and may be subject to risks associated with investing in high-yield, small-cap, and foreign securities. The principal amount invested is not guaranteed at any time, including at or after the funds’ target dates.
INVESTMENT OPTION TICKER SYMBOL
Tier 1- Target Date funds
Vanguard Institutional Target Retirement Income Fund Institutional Shares VITRX Vanguard Institutional Target Retirement 2015 Fund Institutional Shares VITVX Vanguard Institutional Target Retirement 2020 Fund Institutional Shares VITWX Vanguard Institutional Target Retirement 2025 Fund Institutional Shares VRIVX Vanguard Institutional Target Retirement 2030 Fund Institutional Shares VTTWX Vanguard Institutional Target Retirement 2035 Fund Institutional Shares VITFX Vanguard Institutional Target Retirement 2040 Fund Institutional Shares VIRSX Vanguard Institutional Target Retirement 2045 Fund Institutional Shares VITLX Vanguard Institutional Target Retirement 2050 Fund Institutional Shares VTRLX Vanguard Institutional Target Retirement 2055 Fund Institutional Shares VIVLX Vanguard Institutional Target Retirement 2060 Fund Institutional Shares VILVX Vanguard Institutional Target Retirement 2065 Fund Institutional Shares VSXFX
“I’ll manage on my own”
Tier 2: Core ArrayWith this approach you determine and maintain the mix of investments in your Plan account using passive and actively managed funds.
Tier 2 is comprised of passively managed funds — commonly known as “index funds”. Index funds seek to match their benchmark’s performance, rather than beat their benchmark. Because the objective is to simply mirror the holdings and return of a particular index, passively managed funds tend to have lower turnover and lower expenses compared with actively managed funds. Ultimately, index funds are designed to provide exposure to a broad selection of securities at a relatively low cost. While these funds typically perform very similarly to the index they track, you should be aware that index funds cannot be expected to meet or beat the index’s performance.
ASSET CLASS INVESTMENT OPTION TICKER SYMBOL
Tier 2- Core Array
Short Term Blend Fidelity Short Term Treasury Bond Index Fund FUMBX
Diversified Bond Fidelity® US Bond Index Fund FXNAX
Large Cap Blend Fidelity® 500 Index Fund FXAIX
Mid Cap Blend Fidelity® Extended Market Index Fund FSMAX
Diversified
5 Tier 3: Extended Array
The extended array contains additional index fund options along with actively managed funds which seek to beat, or exceed, their benchmarks. Each fund’s manager has flexibility to actively seek out investments that they believe will beat, or exceed, the performance of a particular index. Since actively managed strategies often involve a great deal of research, they tend to have higher turnover and higher expenses compared with passively managed funds.
ASSET CLASS INVESTMENT OPTION TICKER SYMBOL
Tier 3: Extended Array
Money Market Vanguard Federal Money Market Fund Investor Shares1 VSGDX
Stable Value NY Life Guaranteed Interest Account NA
Bond Vanguard Inflation-Protected Securities Fund Institutional Shares VIPIX
Bond Loomis Sayles Core Plus Bond Fund Class N NERNX
Large Cap Value MFS Value Fund Class R6 MEIKX
Small Cap Value Vanguard Small-Cap Value Index Fund Institutional Shares VSIIX
Large Cap Growth Fidelity® Growth Company K6 FGKFX
Large Cap Growth Harbor Capital Appreciation Fund Retirement Class HNACX
Large Cap Growth Vanguard Growth Index Fund Institutional Shares VIGIX
Mid Cap Growth BNY Mellon Small/Mid Cap Growth Fund Class Y DBMYX
Small Cap Growth Vanguard Small-Cap Growth Index Fund Institutional Shares VSGIX
Diversified International Equity DFA International Value Portfolio Institutional Class DFIVX
Diversified International Equity MFS International Intrinsic Value Fund Class R6 MINJX
Emerging Markets Wells Fargo Emerging Markets Equity Fund - Class R6 EMGDX
Specialty Vanguard Real Estate Index Fund Institutional Shares VGSNX
Tier 4: Self-Directed Brokerage Account
Fidelity BrokerageLink® provides you with an opportunity to invest in a broad range of mutual funds beyond the investments offered directly through the Plan.
BrokerageLink includes investments beyond those in your plan's lineup. You should compare investments and share classes that are available in your plan's lineup with those available through BrokerageLink, and determine the available investment and share class that is appropriate for your situation. The plan fiduciary neither evaluates nor monitors the investments available through BrokerageLink. It is your responsibility to ensure that the investments you select are suitable for your situation, including your goals, time horizon, and risk tolerance.
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Other transition details
Beneficiary Designations
Your beneficiary designation on file with TIAA will not transfer to Fidelity.
With Fidelity’s Online Beneficiaries Service, you can designate your beneficiaries, receive instant online confirmation, and check your beneficiary information virtually any time. Once the transition is complete, log on to NetBenefits at www.netbenefits.com/DePaul or call Fidelity at 1-800-343-0860 to request a form to complete and return to designate your beneficiary.
Scheduled Ongoing Payments at TIAA
If you are currently receiving ongoing payments or minimum required distributions from your TIAA account, those arrangements will remain with TIAA and not transfer to Fidelity. Depending on which investments you hold, and how your account balances transfer, you may want to evaluate how your current installment payments will be affected.
If all or a portion of your balance transfers to Fidelity and you wish to receive ongoing
payments from that account as well, please contact the Fidelity Retirement Service Center at 1-800-343-0860.
Loans
Any outstanding loan balances in your account at TIAA will continue to be repaid to your account at TIAA.
New loans will only be available through your Fidelity account after July 1, 2021.
Account Statements
If you have balances that remain with TIAA you will continue to receive statements from TIAA for those assets.
Your first statement for assets at Fidelity will be available online in October. Account
statements from Fidelity will not be automatically mailed to your home; they will be available after logging in to NetBenefits at netbenefits.com/DePaul. To change your mail preferences and request that statements be mailed to your home address, call Fidelity at 1-800-343-0860 or log on to NetBenefits and select Profile, then Preferences.
Important notice regarding your TIAA Plan account transition to Fidelity
To ensure that all information is transferred accurately from your current DePaul University 403(b) Plan account at TIAA to your new Plan account at Fidelity, there will be a period of time when you will be unable to direct or diversify investments in your individual accounts or obtain a loan or distribution from the Plan.
This time, during which you will be unable to exercise your rights otherwise available under the Plan, is called a “blackout period.” The blackout period will begin at 3 p.m., Central Time on July 16, 2021. The blackout in TIAA accounts is expected to end during the week of July 25, 2021 and during the week of August 8 in your new Fidelity account. During this time, you can determine whether the blackout period has started or ended by contacting TIAA or Fidelity.
Because you will be unable to direct or diversify your Plan balance during the blackout period, it is very important that you review and consider the appropriateness of your current investments. For your long-term retirement security, you should give careful consideration to the importance of a well-balanced and diversified investment portfolio, taking into account all your assets, income and investments.
Whether or not you are planning retirement in the near future, we encourage you to carefully consider how this blackout period may affect your retirement planning and your overall financial plan. If you have any questions concerning this notice, you should contact the Fidelity Retirement Service Center at 800-343-0860.
7 Investing involves risk, including risk of loss.
This document provides only a summary of the main features of the DePaul University 403(b) Plan, and the Plan document will govern in the event of any discrepancies.
You are not permitted to make a direct exchange from NY Life Guaranteed Interest Account to Vanguard Federal Money Market Fund Investor Shares or Fidelity BrokerageLink® (considered “competing funds”). Before exchanging from NY Life Guaranteed Interest
Account, you must first exchange to a “noncompeting” fund for 90 days. While these requirements may seem restrictive, they are typically imposed by issuers such as insurance companies, banks, or other approved financial institutions, as a condition for issuing investment contracts to retirement plans.
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