Currently, participants in these plans can choose among Corebridge Financial (formerly AIG/VALIC) or TIAA, or both of these options. After June, Fidelity will be the sole company providing services to the university.

These changes do not impact:

• PERA retirement investments.
• Investments in any annuity or fixed income products that are restricted from being moved automatically. You may choose to move accounts in variable annuity funds after the transition in June. If you’d like to understand your options regarding investments that are not automatically moved, a Fidelity Investment consultant can help you.

The goal of these changes is to respond to employee feedback and improve the investment options available to employees, reduce administrative and fund-specific fees, elevate retirement education, and make the entire process easier for employees to navigate.

These changes are summarized in this video by Joseph DiVerdi, chair of the committee that recommended these changes, and FAQs: hr.colostate.edu/retirement-plans-review.

The changes are part of a multi-year effort to optimize retirement fund options involving a committee with representation from across the University and a consultant. The process included asking companies interested in administering the university’s retirement funds to submit their qualifications, as well as engaging with retirement plan participants through information-gathering sessions and a survey.

Under the new model with Fidelity, employees can choose from a menu of high-quality investments selected by the university’s retirement investment committee, emphasizing quality over quantity of funds available for these investments.

Updates will be sent to impacted employees throughout the spring and summer, including information about a series of in-person and online sessions, investment workshops and opportunities to meet with a Fidelity investment counselor.

“This is the culmination of countless hours of work by a committee of dedicated individuals who believe that our employees should benefit from a retirement plan structure that follows best practices and maximizes their opportunities to invest well for their retirement,” said Teri Suhr, chief total rewards officer for Human Resources.

“We understand that many of our employees, former employees and retirees have close relationships with their retirement plan advisors at TIAA and Corebridge, and that anytime there are changes to their retirement planning efforts, it can raise questions. That’s why there is an entire team of individuals devoted to making sure this transfer goes smoothly and, more importantly, taking the time to provide everyone with impacted accounts multiple opportunities to attend informational sessions, investment education sessions and one-on-one counseling to talk through their individual circumstances. It’s important to watch your email now through June as we share updates and progress about the transfer, as well as information about how you can educate yourself about your retirement investments and these changes.”

All current, retired and former employees whose funds will move received an email on Feb. 6.

More information will be shared frequently this spring and summer with individuals who hold funds that will transfer to the new model. Current employees will receive updates to their CSU email accounts; retired and former employees will receive updates to their email address on file with their current investment company (Fidelity, TIAA or Corebridge) and with CSU’s Division of Human Resources. If you are concerned that you’re not receiving emails about the change, please contact Human Resources.