2013 Fund Mapping F.A.Q.
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There have been several questions regarding the mapping process as described in our announcement dated October 19, 2012 and the announcements sent from TIAA-CREF and Fidelity. The following are the responses to questions that we have received and they may be helpful to you in understanding this process:
           
  1. What are the changes?
  2. Why are these changes necessary?
  3. What are the core funds?
  4. Do I need to enroll in the new funds during Open Enrollment?
  5. Why was Vanguard dropped from the core funds?
  6. What is the brokerage link?
  7. If I enroll in funds in the Fidelity brokerage link, are there additional fees?
  8. If I am currently not a Fidelity participant but would like to enroll with Fidelity brokerage link, what do I do?
  9. Do I have to rollover my Vanguard, Scudder or Dreyfus funds to TIAA-CREF or Fidelity?
  10. If I currently have my SRA with Vanguard, Scudder or Dreyfus, what happens if I do not do anything?
  11. What are the deadlines to make changes?
  12. Where can I find the Wesleyan, TIAA-CREF and Fidelity announcements detailing this process?
  13. How do I make an appointment with a TIAA-CREF or Fidelity representative?
   
           
           
  1. What are the changes?
    Effective January 3, 2013, the fund menu will be downsized to a core lineup and your funds will be mapped over to the core funds if you are not already enrolled in these funds. Future contributions to Vanguard, Scudder and Dreyfus will be frozen. You do have the option, though, to enroll in the brokerage link and continue with most funds. These funds will not be monitored by the Retirement Plan Investment Committee.
             
  2. Why are these changes necessary?
    Due to new regulations of 403(b) plans, the Retirement Plan Investment Committee was formed and is responsible for selecting investment providers and vehicles and periodically monitoring the investment options of the Plans. To responsibly monitor the funds, the number of funds available had to be downsized. The goal is to offer a diverse choice of low-cost funds. The Committee will not and cannot guarantee performance or relative performance of the funds. You, as the participant will continue to make your own investment choices from the funds that are offered.
             
  3. What are the core funds?
    Please go to 2013 Core Lineup Funds for a listing of the core funds available on January 3, 2013.
             
  4. Do I need to enroll in the new funds during Open Enrollment?
    No. The fund changes are effective January 3, 2013. You can make the changes anytime until then. If you do not change your funds to the core funds, your TIAA-CREF and Fidelity funds will automatically be mapped over to these funds.
             
  5. Why was Vanguard dropped from the core funds?
    The Retirement Plan Investment Committee is required to monitor all the funds offered to plan participants. In order to do so and meet our fiduciary responsibilities, the fund menu needed to be downsized. Vanguard was frozen but all the Vanguard funds will be available through the Fidelity brokerage link.
             
  6. What is the brokerage link?
    The brokerage link through Fidelity offers mutual fund investment options that will not be directly
available under the Wesleyan Plan core lineup. These funds will not be monitored by the Retirement Plan Investment Committee. This option becomes available November 30, 2012. Please contact Fidelity at 800-343-0860 if you decide to open a Brokerage Link Account.
             
  7. If I enroll in funds in the Fidelity brokerage link, are there additional fees?
    No
             
  8. If I am currently not a Fidelity participant but would like to enroll with Fidelity brokerage link, what do I do?
    If you want to sign up for the brokerage link, please call Fidelity at 800-343-0860 any time after November 30, 2012.
             
  9. Do I have to rollover my Vanguard, Scudder or Dreyfus funds to TIAA-CREF or Fidelity?
    No. You can keep your current balance in these accounts but future contributions will be frozen. The Retirement Plan Investment Committee will not monitor these funds. If you would like your funds to be monitored, you can roll them over into one or more of the core funds. This is not automatic, you must request this rollover.
             
  10. If I currently have my SRA with Vanguard, Scudder or Dreyfus, what happens if I do not do anything?
    As of January 3, 2013, any contributions to Vanguard, Scudder or Dreyfus will be stopped. Unless you enroll in an SRA with TIAA-CREF or Fidelity, no SRA deductions will be taken from your paycheck. If you would like to enroll, please contact retirementplaninvest@wesleyan.edu for an application.
             
  11. What are the deadlines to make changes?
    If your current funds are included in the core lineup, you do not have to do anything. If you want to make changes, you can do so at any time until January 3, 2013. If your funds are not included in the core lineup, and you do not do anything, they will be mapped over to core funds. Any time after January 3, 2013, though, can still change funds to different core funds or enroll in the brokerage link for future contributions. Please also see the Fidelity announcement regarding deadlines for transferring your current Fidelity fund to the brokerage link.
             
  12. Where can I find the Wesleyan, TIAA-CREF and Fidelity announcements detailing this process?
    Please see the 2013 Options for Wesleyan Retirement Savings Plans.
             
  13. How do I make an appointment with a TIAA-CREF or Fidelity representative?
    We strongly recommend that you see a representative if you have any questions about the funds. You can make on campus appointments by calling the following numbers:
             
      TIAA-CREF 800-732-8353   Fidelity 800-642-7131