TIAA is the single recordkeeper for the UNC System Retirement Plans

This page was last updated Jan. 25, 2024
More information will be added as it becomes available.

Earlier this year, we communicated that the UNC System was exploring a move from two recordkeepers (TIAA and Fidelity) to a single retirement plan recordkeeper for UNC Retirement Plans. The System completed the RFP process and has awarded the contract to manage all participant retirement plan assets to TIAA. This includes the UNC Optional Retirement Program, UNC System 403(b) Plan and the UNC System 457(b) Plan. 

Please read this message from the UNC System for more details. The affected plans include:

  • UNC Optional Retirement Program (ORP)
  • UNC 403(b) Plan
  • UNC 457(b) Plan
  • UNC Senior Administrative Officer Retirement Program
  • UNC Senior Athletic Employee Retirement Program

Benefits-eligible employees hired on or after Sept. 1, 2023, may only enroll in TIAA.

Participants in the UNC Retirement Plans (both TIAA and Fidelity) received a letter from the UNC System with more details about this upcoming change. 

What’s Next

TIAA will be the recordkeeper for all five UNC Retirement Plans beginning in the spring of 2024 (and beginning Sept. 1, 2023, for new employees). If you have a balance in one or more of the UNC Retirement Plans or are receiving benefits from someone who did, what’s next will depend on who is currently managing your plan assets.

  • If TIAA is your current recordkeeper: You will not need to take any action. Since TIAA is already your recordkeeper, your investments will continue as is, but will be transferred to a new type of contract with TIAA.
  • If Fidelity is your current recordkeeper: You will need to review the transition guide and insert from TIAA which highlights details about the fund lineup available through TIAA, the fund mapping process, key dates, and the decision-support resources available to you. Note: The TIAA investment lineup is similar to the Fidelity lineup with a few exceptions. You can view the investment options at TIAA.org/unc/

All participants with a balance in the plan(s) will receive more information about the changes, including a transition guide from TIAA. Carefully review the guide for details on key dates, specific action steps, and resources available to you.

Key Dates

Dates (2024) What you need to know

Week ending

Feb. 23

You will be enrolled in a new Retirement Choice and/or Retirement Choice Plus plan account(s)
with TIAA; no action is required by you.
Payroll contributions received on or after February 23 will be applied to your new TIAA account(s).
Enrollment confirmation(s) will be sent by U.S. mail, unless you have set preferences with TIAA to receive information electronically.
Week of March 4 Your existing mutual fund balances with TIAA (if applicable) will transfer to your new account(s)
and the updated investment lineup.
March 25 A blackout period is expected to begin for Fidelity participants. If you currently have a retirement
plan balance with Fidelity, you will not be able to access or change your Fidelity investment choices, take or change loans, make withdrawals, or transfer funds during the blackout period.
Week of April 1 If you have a retirement account with Fidelity, your balances in the UNC Retirement Programs will
transfer to your TIAA account.
Week of April 15 The blackout period is expected to end for Fidelity participants. You can access and update your
entire retirement account at TIAA, including balances transferred from Fidelity.

Educational Sessions

The Benefits Office is working with TIAA to schedule virtual and in-person sessions in February 2024 for participants to learn more about the transition and to get answers to their questions. Save the date for the following upcoming sessions, and review this flyer for more details.

Webinars

You can attend a one-hour virtual session to learn about the changes and enhancements to the plans. Visit the URL listed below for registration information. Sessions will be recorded for those who cannot attend or who would like to review later and will be accessible through the same link.

UNC Charlotte In-person Presentations with Q&A

  • Wednesday, Feb. 14, 2 p.m., Cone University Center, McKnight Hall
  • Thursday, Feb. 22, 10 a.m. Cone University Center, Room 210

1:1 Meetings with a TIAA Representatives

Visit TIAA.org/schedulenow-unc to schedule a 1:1 advice session with TIAA. 

Resources and UNC System Messages
Transition Guide
Transition Guide Insert
Blackout Notice

TIAA Website

UNC System Retirement Benefits Website

UNC System Message - Retirement Plan RFP Employee Email 040423
UNC System Message - Retirement Plan RFP Award Notice 08-2023
UNC System Message - Recordkeeper Letter to TIAA and Fidelity participants
UNC System Message- Retirement Plan Split Contribution Memo 11152023