TCU RETIREMENT PLAN UPDATEShr.tcu.edu/wp-content/uploads/TCU-Retirement-Transition-Guide.pdf · the best possible retirement plans for your long-term investment needs. Having opportunities

TCU RETIREMENT PLAN UPDATESLearn about upcoming enhancements.

Table of contents

The Texas Christian University (TCU) Retirement Plan Enhancement GuideInvesting for retirement is one of your most important financial goals. At TCU, we are dedicated to offering you the best possible retirement plans for your long-term investment needs. Having opportunities to plan and invest will make it easier for you to help reach your retirement goals.

While no action is required on your part, this guide provides an overview of upcoming enhancements to the TCU Retirement Plan. Please be sure to read it carefully.

A new chapter is about to start 1

Your new TIAA investment options 2

Understanding retirement plan fees 3

For TIAA participants 4

For Voya Participants 5-6

For the Pension Fund of the Christian Church participants 6

Transfer chart for TIAA participants 7-8

Transfer chart for Voya participants 9

Target-date fund birth chart 10

Retirement plan investment advice 11

Q&A 12-13

We are here to help Back cover

TCU Retirement Plan Questions? Call 800-842-2252 or visit TIAA.org/tcu | 1

A new chapter is about to startHelping you plan and save for the future is important to us here at TCU. That is why we are pleased to announce the following updates to the TCU Retirement Plan.

• New TIAA investment options. The new TIAA investments, carefully selected by TCU under guidance of CAPTRUST,1 the plan’s independent advisor, may provide the ability to create a diversified retirement portfolio.

• Consolidated plan services with TIAA. After a thorough and careful review of our retirement plan providers, TCU selected TIAA to deliver comprehensive retirement services. This decision was based on a desire to improve the overall participant experience at a reasonable cost. As a result of this change, contributions and balances currently with Voya will be transferred to TIAA. TCU will continue to maintain the Pension Fund of the Christian Church option in the retirement plan.

• Lower fees. TCU has negotiated lower fees and selected investment options with a lower overall cost.

• You can continue to receive personalized advice on the plan’s investment options. This service is available as part of your retirement plan at no additional cost to you. Investment advice from TIAA is available online, by phone or through a one-on-one advice session.

• Blackout period for Voya balances. To facilitate a smooth transfer of current investment balances to TIAA, a brief “blackout period” will take place. During this time, you will not be able to change your investment choices, affect loans, make withdrawals or transfer funds. The blackout period applies to balances currently invested at Voya. Please review the enclosed Blackout Notice for additional details. Any scheduled payroll contributions will continue to be deducted from your paycheck during the blackout period.

No longer employed by TCU? You are receiving this guide because you have investments in the TCU Retirement Plan. Even though you are not actively contributing and actions may not be required, you should review this information carefully to learn how your account could be affected.

Retirement plan updates start June 2019Key dates EventsMay 2019 On-site seminars begin. Dates and times will be shared by TCU as soon as possible.

June 11, 2019 Plan enhancements and new TIAA investment options take effect. TIAA mutual fund balances will transfer to the new investment options.

June 12, 2019 Voya participants without a TIAA account will be enrolled in a TIAA account and receive a confirmation kit with important information on making the most of their participation with TIAA.

June 18, 2019 at 3 p.m. (CT) Blackout period expected to begin for Voya participants. See accompanying notice for details.

June 21, 2019 First biweekly payroll contribution using the new investment options at TIAA.

June 26, 2019 On or about this date, account balances transfer from Voya to TIAA.

June 30, 2019 First monthly payroll contribution using the new investment options at TIAA.

July 11, 2019 Transition expected to end and blackout period for Voya participants expected to end. You can now access and update your entire retirement account at TIAA, including balances transferred from Voya.

Important note: The date of the transfer and/or the end of the blackout period depends on the accurate, timely transfer of data and assets from Voya to TIAA. If this does not occur, the transfer and/or blackout period could be delayed.

1 TIAA and CAPTRUST, or any of their affiliates or subsidiaries, are not affiliated with or in any way related to each other. TIAA acts as a recordkeeper for the plan and, in that capacity, is not a fiduciary to the plan. TIAA is not responsible for the advice and education provided by CAPTRUST. TIAA may also provide advice and education to plan participants. When TIAA provides advice on how to allocate investments, it takes fiduciary responsibility for that advice. CAPTRUST is not responsible for the advice and education provided by TIAA.

2 | TCU Retirement Plan Questions? Call 800-842-2252 or visit TIAA.org/tcu

Your new TIAA investment options

To learn more about the new TIAA investment options, go to TIAA.org and enter the ticker symbol in the site’s search feature. Starting June 11, 2019, you can also view details about the new TIAA investment options online at TIAA.org/tcu. Click on Investment Options and then select View All Investments to view the individual investment information.

Guaranteed Ticker SymbolTIAA Traditional Annuity (Guaranteed Annuity)1 N/A

Money Market Ticker SymbolCREF Money Market Account R2 (Variable Annuity)2 QCMMPXVanguard Federal Money Market Investor VMFXXFixed Income (Bonds) Ticker SymbolPGIM Total Return Bond R6 PTRQX

Vanguard Total Bond Market Index Admiral VBTLX

Multi-Asset Ticker SymbolCREF Social Choice Account R2 (Variable Annuity) QCSCPX

Vanguard Target Retirement 2015 Investor VTXVX

Vanguard Target Retirement 2020 Investor VTWNX

Vanguard Target Retirement 2025 Investor VTTVX

Vanguard Target Retirement 2030 Investor VTHRX

Vanguard Target Retirement 2035 Investor VTTHX

Vanguard Target Retirement 2040 Investor VFORX

Vanguard Target Retirement 2045 Investor VTIVX

Vanguard Target Retirement 2050 Investor VFIFX

Vanguard Target Retirement 2055 Investor VFFVX

Vanguard Target Retirement 2060 Investor VTTSX

Vanguard Target Retirement 2065 Investor VLXVX

Vanguard Target Retirement Income Investor VTINX

Real Estate Ticker SymbolTIAA Real Estate Account (Variable Annuity) QREARX

Equities (Stocks) Ticker Symbol

American Funds EuroPacific Growth R6 RERGXCarillon Eagle Small-Cap Growth R6 HSRUXCREF Stock Account R2 (Variable Annuity)3 QCSTPXGoldman Sachs Small-Cap Value R64 GSSUXJohn Hancock Disciplined Value R64 JDVWXMFS Mid-Cap Growth R6 OTCKXMFS Mid-Cap Value R6 MVCKXMainStay Large-Cap Growth R6 MLRSXVanguard 500 Index Admiral VFIAXVanguard Mid-Cap Index Admiral VIMAXVanguard Small-Cap Index Admiral VSMAXVanguard Total International Stock Index Admiral VTIAXTIAA Brokerage5

1 TIAA Traditional Annuity is a guaranteed insurance contract and not an investment for federal securities law purposes. Any guarantees under annuities issued by Teachers Insurance and Annuity Association of America (TIAA) are subject to its claims-paying ability. Interest credited includes a guaranteed rate plus additional amounts as may be established by the TIAA Board of Trustees. Such additional amounts, when declared, remain in effect for the “declaration year,” which begins each March 1 for accumulating annuities and January 1 for payout annuities. Additional amounts are not guaranteed for periods other than the period for which they were declared.

2 Future contributions to the CREF Money Market Account R2 are not available under the Texas Christian University 457(b) Deferred Compensation Plan or the Texas Christian University DC Retirement Plan.

3 CREF Stock Account R2 is not available under the Texas Christian University 457(b) Deferred Compensation Plan or the Texas Christian University DC Retirement Plan.

4 A contractual fee waiver applies. See the prospectus for the fee waiver expiration date.5 The brokerage account option is available to participants who maintain both a legitimate U.S. residential address and a legitimate U.S. mailing

address. Certain securities may not be suitable for all investors. Securities are subject to investment risk, including possible loss of the principal amount invested. By opening a brokerage account, you will be charged a commission only on applicable transactions and other account-related fees in accordance with the TIAA Commission and Fee Schedule. Please visit TIAA.org/SDA_CAA. Other fees and expenses apply to a continued investment in the funds and are described in the fund’s current prospectuses. The brokerage account option is not available under the Texas Christian University 457(f) Deferred Compensation Plan.

Investment products may be subject to market and other risk factors. See the applicable product literature, or visit TIAA.org and enter a ticker symbol in the site’s search feature for details. Annuity account options are available through annuity contracts issued by TIAA or CREF. These contracts are designed for retirement or other long-term goals and offer a variety of income options, including lifetime income. Payments from the variable annuity accounts are not guaranteed and will rise or fall based on investment performance.


Understanding retirement plan fees

When making decisions about your TCU Retirement Plan account, it’s important to know there are fees associated with many of the plan’s services and investments. Some fees may be paid by your employer; others may be paid by you based on the services and investments you choose.

General administrative services Your plan charges an annual administrative fee to cover services such as recordkeeping, legal, accounting, investment advisory, and other plan and participant services.1 These fees will be assessed based on the revenue the TCU Retirement Plans already generate, thus no additional fees will be assessed.

Investment-specific services Each of the plan’s investment options has a fee for investment management and associated services. Plan participants generally pay for these costs through what is called an expense ratio. Expense ratios are displayed as a percentage of assets. For example, an expense ratio of 0.50% means a plan participant pays $5 annually for every $1,000 in assets. Taking the expense ratio into consideration helps you to compare investment fees.

In some cases, investment providers share in the cost of plan administration. This practice is called “revenue sharing.” An investment manager, distribution company or transfer agent may pay a portion of a mutual fund’s expense ratio from their revenues to a plan recordkeeper, such as TIAA, for keeping track of the ownership of the mutual fund’s shares and other shareholder services. Any revenue shared by an investment provider is included as part of each investment’s expense ratio (it is not in addition to the published expense ratios).

For information on investment-specific expenses and fees, you can find the expenses and other fees and expenses at TIAA.org/tcu starting June 11, 2019, or in the prospectuses at TIAA.org/performance.

Brokerage fee TIAA Brokerage customers are charged a commission on all transactions and other account-related fees in accordance with the TIAA Commission and Fee Schedule. Please visit TIAA.org/SDA_CAA for a complete list of commissions and fees. Other fees and expenses apply to a continued investment in the funds and are described in the fund’s current prospectuses.

Loan issuance fee TIAA is paid $75 for each new general purpose Retirement Plan Loan initiated and $125 for each residential loan initiated. The full loan amount is deducted from your account, and the initiation fee is reduced from the proceeds of the loan check. In addition, there is an annual maintenance fee of $25 for each active loan, which is deducted from your account on a periodic basis.

All things considered Fees are important, but they are just one factor in how you make your decisions. In addition to fees and expenses, you should be sure your investment choices reflect your personal risk tolerance, the time frame until your retirement, and the appropriate asset allocation to suit your investment needs.

1 Please note: Plan servicing fees can be deducted from investment options in Retirement Choice (RC) and Retirement Choice Plus (RCP) contracts. However, plan servicing fees cannot be deducted from Retirement Annuity (RA), Group Retirement Annuity (GRA), Supplemental Retirement Annuity (SRA) and Group Supplemental Retirement Annuity (GSRA) contracts.


For TIAA participantsHow your future contributions and current account balances will be affected

On June 11, 2019, your mutual fund balance will be transferred to the new TIAA investment options, as shown on pages 7-8.

Starting with the June 21, 2019, biweekly payroll and the June 30, 2019, monthly payroll, your future contributions will be directed to the new TIAA investment options, as shown on pages 7-8. Please note: Processing of contributions from the June 30, 2019, monthly payroll could be delayed and will occur once the transition is over.

Any legacy annuity balance you have with TIAA will not transfer to the new TIAA investment options, and no new contributions, rollovers or transfers may be made to these legacy annuities. You can continue to transfer balances among the available annuity options.

Changes to the retirement plan’s investment lineupTCU is taking this opportunity to change the investment options available through the plan. The new TIAA investments, carefully selected by TCU for its employees, may provide the ability to create a diversified retirement portfolio that matches your investment goals and preferences. See page 2 for the new fund lineup.

In addition, TCU will change the plan’s default investment option. The new default option is an updated target-date fund. Each target-date fund provides a diversified retirement portfolio in a single fund. See pages 10 and 12 for more information.

Choosing different investmentsYou can change the way future contributions and existing balances are invested starting on June 11, 2019.

Action steps Review your investments. Once the new TIAA investment options are effective, you can update your

investment choices for future contributions and transferred balances.

Attend a seminar. On-site seminars begin May 2019. Dates and times will be shared by TCU as soon as possible.

Get advice. Has it been awhile since you reviewed your investment mix? You are eligible to receive retirement plan investment advice at no additional cost to you. It is all about helping you retire on your terms.


For Voya participantsEnrollment

You will be enrolled in a new TIAA account on June 12, 2019, and sent an enrollment confirmation. Your beneficiary designation will be set to “Estate.” You can, however, update your beneficiary at TIAA once your new account is established on June 11, 2019.

How your future contributions and current account balances will be affected

Starting with the June 21, 2019, biweekly payroll and the June 30, 2019, monthly payroll, your future contributions will be directed to your new account and the new fund lineup, as shown on page 9. Please note: Processing of contributions from the June 30, 2019, monthly payroll could be delayed and will occur once the transition is over.

On or about June 26, 2019, your current account balance with Voya is scheduled to be transferred to your new TIAA account and the new fund lineup, as shown on page 9.

Changes to the retirement plan’s investment lineup

TCU is taking this opportunity to change the investment options available through the plan. The new TIAA investments, carefully selected by TCU for its employees, may provide the ability to create a diversified retirement portfolio that matches your investment goals and preferences. See page 2 for the new fund lineup.

In addition, TCU will change the plan’s default investment option. The new default option is an updated target-date fund. Each target-date fund provides a diversified retirement portfolio in a single fund. See pages 10 and 12 for more information.

Choosing different investments

You can change the way future contributions and existing balances are invested once your new account is issued on June 11, 2019.

Blackout period

To help ensure the smooth transfer of your account balance from Voya, there will be a brief blackout period. During this time, you will not be able to perform transactions (e.g., change investments, make withdrawals, take a loan, transfer funds, etc.). The blackout period is expected to begin at Voya on or around June 18, 2019 at 3 p.m. (CT).

Please note: The date of the plan changes, transfer and the end of the blackout period depend on the accurate, timely transfer of data from Voya to TIAA. If this does not occur, the transfer and end of the blackout period could be delayed. Payroll contributions to the TCU Retirement Plan will continue to be withheld during the blackout period. See the enclosed Blackout Notice for more details.

continued


For Voya participants continuedHow your account balance will transfer

Most balances will move from Voya to the TIAA platform following a fund-to-fund transfer process. This process directs balances and contributions to a replacement fund on the TIAA menu as shown in the charts on pages 9-10. Account balances that transfer from Voya following a fund-to-fund transfer process will be applied to the new TIAA investment options as of 4 p.m. (ET) on the date the balances are received in accurate and complete order. Your account will not be invested in the new funds for at least one business day. You will receive two confirmations: one from Voya showing the transfer out of your account, and a second from TIAA showing the balances applied to your new account.

However, any balances directed to a Vanguard target-date fund, as shown on page 9, will be transferred first to the Vanguard Federal Money Market Investor Fund (VMFXX). Once information is received from Voya, TIAA will then transfer the balances from the Vanguard Federal Money Market Investor Fund to an age-appropriate Vanguard target-date fund. Under this process, you will receive three confirmations: one from Voya showing the transfer out of your account, one from TIAA for the transfer to the Vanguard Federal Money Market Investor Fund, and another one from TIAA for the transfer to the age-appropriate target-date fund.

Please note: The date of the plan changes and transfer depends on the accurate, timely transfer of data from Voya to TIAA. If this does not occur, the end of the blackout period could be delayed.

For the Pension Fund of the Christian Church participantsThe upcoming changes to the TCU Retirement Plan do not impact accounts with the Pension Fund of the Christian Church. If you have an account with the Pension Fund of the Christian Church, you can continue accessing it as you do today.

Action steps Review your investments. Once your new account is issued, you can update your investment choices

for future contributions and transferred balances.

Name your beneficiary.1 Your beneficiary designation will be set to “Estate.” Naming a beneficiary is an important aspect of managing your retirement account. Please complete this task at your earliest convenience.

Attend a seminar. Dates and times will be shared by TCU as soon as possible.

Get advice. Has it been awhile since you reviewed your investment mix? You are eligible to receive retirement plan investment advice at no additional cost to you. It is all about helping you retire on your terms.

1 For married participants: Under many retirement plans, spouses are entitled to receive at least 50% of the participant’s retirement plan death benefits. If you would like to direct less than 50% to your spouse, you and your spouse will need to complete a spousal waiver form for each affected contract. If such a spousal consent is not executed, your spouse will be entitled to receive at least 50% of your preretirement survivor benefits (or more if required under your employer’s plan), regardless of your beneficiary designation.


Transfer chart for TIAA participants

403(b) and 457(b) plans: The chart below and on the following page shows how TCU will transfer TIAA participants’ future contributions and current mutual fund account balances in the following plans:

• Texas Christian University Defined Contribution Retirement Plan

• Texas Christian University Tax-Deferred Annuity Plan

• Texas Christian University 457(b) Deferred Compensation Plan

• Texas Christian University DC Retirement Plan

Current option Ticker Replacement option Ticker

American Funds EuroPacific Growth R4 REREX American Funds EuroPacific Growth R6 RERGX

American Funds New Perspective R4 RNPEX Age-appropriate Vanguard target-date fund

Various – See the target-date fund birth date chart

on page 10 for more information.

Carillon Eagle Small-Cap Growth I HSIIX Carillon Eagle Small-Cap Growth R6 HSRUXColumbia Mid-Cap Index Institutional NMPAX Vanguard Mid-Cap Index Admiral VIMAXColumbia Small-Cap Index Institutional NMSCX Vanguard Small-Cap Index Admiral VSMAXCREF Growth Account R2 (variable annuity)1 QCGRPX MainStay Large-Cap Growth R6 MLRSX

CREF Inflation-Linked Bond Account R2 (variable annuity)1 QCILPX PGIM Total Return Bond R6 PTRQX

CREF Money Market Account R2 (variable annuity)1 QCMMPX Vanguard Federal Money Market Investor VMFXX

Dodge & Cox Income DODIX PGIM Total Return Bond R6 PTRQX

Goldman Sachs Small-Cap Value Institutional GSSIX Goldman Sachs Small-Cap Value R6 GSSUX

MainStay Large-Cap Growth I MLAIX MainStay Large-Cap Growth R6 MLRSX

MFS Mid-Cap Value R4 MVCJX MFS Mid-Cap Value R6 MVCKX

Oakmark Equity & Income I OAKBX Age-appropriate Vanguard target-date fund



PGIM Global Real Estate Z PURZX Age-appropriate Vanguard target-date fund



PGIM Jennison Mid-Cap Growth Z PEGZX MFS Mid-Cap Growth R6 OTCKXT. Rowe Price Equity Income PRFDX John Hancock Disciplined Value R6 JDVWXT. Rowe Price Equity Index 500 PREIX Vanguard 500 Index Admiral VFIAXT. Rowe Price U.S. Bond Enhanced Index PBDIX PGIM Total Return Bond R6 PTRQXTIAA-CREF Growth & Income Premier TRPGX MainStay Large-Cap Growth R6 MLRSXTIAA-CREF High-Yield Premier TIHPX PGIM Total Return Bond R6 PTRQXTIAA-CREF Large-Cap Growth Index Institutional TILIX MainStay Large-Cap Growth R6 MLRSX

TIAA-CREF Short-Term Bond Premier TSTPX Vanguard Federal Money Market Investor VMFXX

continued

1 Future contributions currently directed to this variable annuity will be redirected as shown in the chart above. Existing balances will transfer in the Texas Christian University DC Retirement Plan and the Texas Christian University 457(b) Deferred Compensation Plan. Existing balances will not transfer in the Texas Christian University Defined Contribution Retirement Plan or the Texas Christian University Tax-Deferred Annuity Plan.


Transfer chart for TIAA participants continued


TIAA-CREF Social Choice Equity Premier TRPSX Vanguard 500 Index Admiral VFIAX

Wells Fargo Target 2010 R6 WFOAX Vanguard Target Retirement Income Investor VTINX

Wells Fargo Target 2015 R6 WFSCX Vanguard Target Retirement 2015 Investor VTXVX

Wells Fargo Target 2020 R6 WFOBX Vanguard Target Retirement 2020 Investor VTWNX

Wells Fargo Target 2025 R6 WFTYX Vanguard Target Retirement 2025 Investor VTTVX

Wells Fargo Target 2030 R6 WFOOX Vanguard Target Retirement 2030 Investor VTHRX

Wells Fargo Target 2035 R6 WFQRX Vanguard Target Retirement 2035 Investor VTTHX

Wells Fargo Target 2040 R6 WFOSX Vanguard Target Retirement 2040 Investor VFORX

Wells Fargo Target 2045 R6 WFQPX Vanguard Target Retirement 2045 Investor VTIVX

Wells Fargo Target 2050 R6 WFQFX Vanguard Target Retirement 2050 Investor VFIFX

Wells Fargo Target 2055 R6 WFQUX Vanguard Target Retirement 2055 Investor VFFVX

Wells Fargo Target 2060 R6 WFUFX Vanguard Target Retirement 2060 Investor VTTSX

Wells Fargo Target Today R6 WOTDX Vanguard Target Retirement Income Investor VTINX

TCU has instructed TIAA to transfer any account balances in any investment option not listed above to the target-date fund that corresponds to the year you turn age 65.

continued


The chart below shows how TCU will transfer Voya participants’ future contributions and current account balances to the new TIAA investment options.


American Funds EuroPacific Growth R4 REREX American Funds EuroPacific Growth R6 RERGX

BlackRock Multi-Asset Income lnstitutional BIICX Age-appropriate Vanguard target-date fund



Carillon Eagle Small-Cap Growth A HRSCX Carillon Eagle Small-Cap Growth R6 HSRUX

Ivy Mid-Cap Growth Y WMGYX MFS Mid-Cap Growth R6 OTCKX

MainStay Large-Cap Growth R1 MLRRX MainStay Large-Cap Growth R6 MLRSX

Parnassus Core Equity Investor PRBLX Vanguard 500 Index Admiral VFIAX

PGIM Global Real Estate Z PURZX Age-appropriate Vanguard target-date fund



PIMCO Income Administrative PIINX PGIM Total Return Bond R6 PTRQX

Putnam Equity Income A PEYAX John Hancock Disciplined Value R6 JDVWX

Temple Global Bond Advisor TGBAX PGIM Total Return Bond R6 PTRQX

Victory Sycamore Established Value A VETAX MFS Mid-Cap Value R6 MVCKX

Virtus Ceredex Small-Cap Value Equity I SCETX Vanguard Small-Cap Index Admiral VSMAX

Virtus Seix Total Return Bond I SAMFX PGIM Total Return Bond R6 PTRQX

Voya Fixed Plus Account III N/A TIAA Traditional Annuity (Guaranteed Annuity) N/A

Voya International Index I IIIIX Vanguard Total International Stock Index Admiral VTIAX

Voya Russell Mid-Cap Index I IIRMX Vanguard Mid-Cap Index Admiral VIMAX

Voya Russell Small-Cap Index I IIRSX Vanguard Small-Cap Index Admiral VSMAX

Voya U.S. Stock Index I INGIX Vanguard 500 Index Admiral VFIAX

VY® BlackRock Inflation-Protected Bond I IBRIX PGIM Total Return Bond R6 PTRQX

Wells Fargo Target 2010 Administrator WFLGX Vanguard Target Retirement Income Investor VTINX

Wells Fargo Target 2015 Administrator WFFFX Vanguard Target Retirement 2015 Investor VTXVX

Wells Fargo Target 2020 Administrator WFLPX Vanguard Target Retirement 2020 Investor VTWNX

Wells Fargo Target 2025 Administrator WFTRX Vanguard Target Retirement 2025 Investor VTTVX

Wells Fargo Target 2030 Administrator WFLIX Vanguard Target Retirement 2030 Investor VTHRX

Wells Fargo Target 2035 Administrator WFQWX Vanguard Target Retirement 2035 Investor VTTHX

Wells Fargo Target 2040 Administrator WFLWX Vanguard Target Retirement 2040 Investor VFORX

Wells Fargo Target 2045 Administrator WFQYX Vanguard Target Retirement 2045 Investor VTIVX

Wells Fargo Target 2050 Administrator WFQDX Vanguard Target Retirement 2050 Investor VFIFX

Wells Fargo Target Today Administrator WFLOX Vanguard Target Retirement Income Investor VTINX

TCU has instructed TIAA to transfer any account balances in any investment option not listed above to the target-date fund that corresponds to the year you turn age 65.

Transfer chart for Voya participants


These are the plan’s new default investment options selected by TCU.

Birth year New investment option Ticker

Before 1948 Vanguard Target Retirement Income Investor VTINX

1948 – 1952 Vanguard Target Retirement 2015 Investor VTXVX

1953 – 1957 Vanguard Target Retirement 2020 Investor VTWNX

1958 – 1962 Vanguard Target Retirement 2025 Investor VTTVX

1963 – 1967 Vanguard Target Retirement 2030 Investor VTHRX

1968 – 1972 Vanguard Target Retirement 2035 Investor VTTHX

1973 – 1977 Vanguard Target Retirement 2040 Investor VFORX

1978 – 1982 Vanguard Target Retirement 2045 Investor VTIVX

1983 – 1987 Vanguard Target Retirement 2050 Investor VFIFX

1988 – 1992 Vanguard Target Retirement 2055 Investor VFFVX

1993 – 1997 Vanguard Target Retirement 2060 Investor VTTSX

1998 or later Vanguard Target Retirement 2065 Investor VLXVX

Target-date fund birth chart


IMPORTANT: The projections or other information generated by the Retirement Advisor tool regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results. Results may vary with each use and over time.

Retirement plan investment advice

As a participant in the TCU Retirement Plan, you have access to personalized retirement plan advice on the plan’s investment options from a TIAA financial consultant. Advice sessions will also be available in Spanish.

TIAA’s advice is designed to help you answer key questions, including:1. Am I on track to reach my retirement savings goals?We will help you analyze how your investments are performing and determine if you are saving enough to help meet your needs.

2. Which combination of retirement plan investments is right for me?Get assistance picking the right investments based on your plan’s investment options, diversifying properly and allocating contributions to balance your need for growth potential with your tolerance for risk.

3. How can I meet my income needs in retirement?Get help determining the amount you will need to meet your retirement income goals.

How to access adviceOnlineGet quick, convenient answers via the Retirement Advisor online tool. Visit TIAA.org/retirementadvisor and log in to your account.

By phone or in personReceive personalized retirement plan investment advice either over the phone or in person.

Schedule your advice session by calling 800-732-8353, weekdays, 7 a.m. to 7 p.m. (CT).

You can also schedule online at TIAA.org/schedulenow.


Q&A

1. Why is TCU updating the TCU Retirement Plan?TCU is committed to providing you with competitive retirement benefits and recently conducted a review of the retirement plan. The resulting updates are intended to give you the new TIAA investments, generally lower fees, more streamlined communications, and services and tools you need to pursue your retirement savings goals.

2. How can I learn about the new TIAA investment options?A list of the new TIAA investment options is included in this guide on page 2. Starting June 11, 2019, you can also visit the dedicated retirement plan website at TIAA.org/tcu for additional information.

3. What if I would like help making investment choices?You can get personalized advice on the plan’s investment options from a TIAA financial consultant. This service is available as part of your retirement program at no additional cost to you.

To schedule an advice session with TIAA, call 800-732-8353, weekdays, 7 a.m. to 7 p.m. (CT). You can also schedule online at TIAA.org/schedulenow.

4. What should I expect from an advice session?You can expect a thorough review of your account and an action plan for moving forward. Advice sessions last approximately forty-five minutes. Bring all your investment account statements, including any retirement investments outside of the retirement plan and your most recent Social Security statement, if available. A TIAA financial consultant will use this information to understand your current financial situation and develop an action plan. You may bring anyone you like to your session with you.

5. What happens to my current outstanding loan, systematic withdrawal or required minimum distribution at Voya?You will receive separate communications if you need to take any action.

6. Will loans continue to be available?Yes, the TCU Retirement Plan lets participants borrow against their retirement account, with a maximum of two outstanding loans at a time.

However, starting June 11, 2019, the current collateralized loan offering will be replaced by the standard TIAA loan offering on any new loans going forward. If you currently have a collateralized loan, there will be no change to your loan.

7. Will I pay any fees to invest in the TCU Retirement Plan with TIAA?All investment options have expenses and other fees that can be found in the prospectuses at TIAA.org/tcu starting June 11, 2019, or by entering the investment’s ticker symbol into the search feature at TIAA.org. Some investment options may also have redemption and other fees.

8. How do target-date funds1 work?Each target-date fund consists of underlying mutual funds that invest in a broad range of asset classes. The allocations and risk level depend on how many years remain until the fund’s target date. To help reduce risk as the fund’s target date approaches, the fund’s mix of stocks, bonds and other types of investments is adjusted to a more conservative mix.

9. What else should I know about target-date funds?As with all mutual funds, the principal value of a target-date fund is not guaranteed at any time and will fluctuate with market changes. The target date indicates when investors may plan to start making withdrawals. However, you are not required to withdraw your money at the target date. A TIAA financial consultant can help you decide whether a target-date fund is right for you.

1 Target-date funds share the risks associated with the types of securities held by each of the underlying funds in which they invest. In addition to the fees and expenses associated with the target-date funds, there is exposure to the fees and expenses associated with the underlying mutual funds.

continued


10. Does it make sense to consolidate my external retirement accounts?Some individuals might find it easier to manage their retirement money by working with only one provider. That said, transferring balances can sometimes trigger costs. Before consolidating outside retirement balances, contact TIAA or check with your employee benefits office to see if you can transfer those balances directly to your TIAA retirement account. You should carefully consider all your options. For instance, you may be able to leave money with a prior provider, roll over money to an IRA, or cash out all or part of the account value. Weigh the advantages and disadvantages of each option carefully, including investment options and services, fees and expenses, withdrawal options, required minimum distributions, tax treatment and your particular financial needs. You should seek the guidance of your financial professional and tax advisor before consolidating balances.

11. Can I move money from an existing TIAA account to a new one?Yes, but it is a move you will want to weigh carefully. You may move money out of your existing TIAA contracts to the new contracts, subject to any restrictions that apply to the investments. However, any money that you move out of your existing contract(s) cannot be moved back into them. Money in the TIAA Traditional Annuity deserves special attention. For instance, money moved out of TIAA Traditional in the existing contracts will no longer receive the 3% minimum guaranteed rate. In short, the pros and cons are different for every participant. To learn more about TIAA Traditional, liquidity rules, and the differences between RC and RCP contracts, please see the contract comparison chart at TIAA.org/contractcomparison or contact TIAA at 800-842-2252.

12. What are annuities?There are different types of annuities, but they are typically designed to give you the opportunity to grow your money while you are working and provide you with the option to receive income for life when you retire. In fact, annuities are the only retirement products that can guarantee to pay you (or you and a spouse or partner) income for life.

Guaranteed annuities (also known as fixed annuities): Earn a minimum guaranteed interest rate on your contributions, plus the potential for additional amounts of interest. In retirement, guaranteed annuities can offer you income for life that will never fall below a certain guaranteed level and provide income that is guaranteed to last for your lifetime.1

Variable annuities: Invest in a variety of asset classes, and account values will fluctuate based on the performance of the investments in the accounts. It is possible to lose money in variable annuities. In retirement, variable annuities can provide an income stream that is guaranteed to last for your lifetime, but the actual amount will rise or fall based on investment performance.

13. What else should I know about TIAA Traditional and the TCU Retirement Plan?If you have contributed (or are currently contributing) to the TIAA Traditional annuity, that portion of your account balance may be subject to different withdrawal and transfer provisions, depending on whether those contributions were invested before or after June 2012. To review how this could impact your account, call TIAA at 800-842-2252, weekdays, 7 a.m. to 9 p.m., and Saturday, 8 a.m. to 5 p.m. (CT). For more information on TIAA Traditional, visit TIAA.org/traditional.

Q&A continued

1 Guarantees are based on the claims-paying ability of the issuing company.

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This material is for informational or educational purposes only and does not constitute investment advice under ERISA. This material does not take into account any specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on the investor’s own objectives and circumstances. Distributions from 403(b) plans before age 59½, severance from employment, death or disability may be prohibited, limited and/or subject to substantial tax penalties. Different restrictions may apply to other types of plans. The TIAA group of companies does not provide legal or tax advice. Please consult your legal or tax advisor. Investment, insurance, and annuity products are not FDIC insured, are not bank guaranteed, are not bank deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value. You should consider the investment objectives, risks, charges, and expenses carefully before investing. Please call 877-518-9161 or go to TIAA.org/tcu for current product and fund prospectuses that contain this and other information. Please read the prospectuses carefully before investing. TIAA-CREF Individual & Institutional Services, LLC, Teachers Personal Investors Services, Inc., and Nuveen Securities, LLC, Members FINRA and SIPC, distribute securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Each is solely responsible for its own financial condition and contractual obligations. TIAA Brokerage, a division of TIAA-CREF Individual & Institutional Services, LLC, Member FINRA/SIPC, distributes securities. Brokerage accounts are carried by Pershing, LLC, a subsidiary of The Bank of New York Mellon Corporation, Member FINRA, NYSE, SIPC. ©2019 Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, 730 Third Avenue, New York, NY 10017

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