University of Washington Human Resources

TIAA was chosen by the UW for its commitment to lifetime income and a secure retirement for all, its strong reputation in higher education and its ability to provide plan education, excellent customer service, personalized financial advice and modern digital tools. This change will also reduce the amount you pay as a plan participant, meaning more money goes into your savings.

By offering only TIAA as an investment provider on the plans, the UW will be able to offer:

• Consistent participant service across all groups.
• Technology platform enhancements driven by TIAA’s partnership with Accenture.
• Stronger compliance support to keep pace with changing federal laws.
• Simplified plan administration and oversight.

Your investments will stay the same. The UW sets the investment menu, and those same funds will continue to be available after TIAA becomes the recordkeeper. You can view the current UW investment offerings on Fidelity’s site. TIAA’s role is to provide account access and track participant information. When your investments transfer from Fidelity to TIAA, they will remain continuously invested, with no out-of-market period.

Brokerage investments will transfer in much the same way as other investments, with no out-of-market time. There are some current options that may be unavailable on TIAA’s brokerage platform. If you are invested in brokerage, you will receive separate communication later this fall with additional details and options available to you.

Other changes that will be effective in January 2026 include:

• Offering loans on UWRP for the first time.
• Expanding withdrawal options in both UWRP and VIP.
• Eliminating the optional two-year waiting period for new participants.
• Making 10% UWRP contributions at age 50 mandatory.

All participants with a balance in the UW Retirement Plan (UWRP) and/or Voluntary Investment Program (VIP) were issued new TIAA accounts the week of October 20, 2025, even if you already had an account(s) at TIAA. If you have balances in both plans, you were issued one account per plan. TIAA sent you a Welcome Kit with additional information.

Welcome Kits contain information about each new TIAA account created. If you were issued two accounts, you were sent two separate kits. You can find the following information in each kit:

• Confirmation that you have been issued a new TIAA account
• Account number
• Asset allocations on file from Fidelity.
  • The investments you are currently investing in.
  • These are the investments your balances will transfer into when they come to TIAA (no change)
• Beneficiary designations on file from Fidelity, now on your new TIAA account.
• Instructions on how to access your TIAA account online
• TIAA resources and information on events to learn more

Welcome Kits are issued as accounts are created, and most should be received by the first week of November. You can expect to receive your kit from TIAA directly to your home address on file.

All Welcome Kits were issued the week of October 20. If you were issued two accounts, you were sent two separate kits. Please note the following:

• Welcome Kits have been sent via direct mail to new TIAA participants and to existing TIAA participants with direct mail as their communication preference. USPS has been experiencing mail delivery delays. You can register for online access at tiaa.org/create to access the Welcome Package in the Statements and Documents section of your online account.
• Participants with eDelivery as their communication preference at TIAA received their Welcome Kit(s) via email and the Welcome Package can be accessed in the Statements and Documents section of your online account. You will also receive your kit(s) via direct mail with an estimated mail date of November 6.

If you are a new TIAA participant, you will register for online access to your new account(s) at tiaa.org/create. If you already had a TIAA account(s), you won’t need to register for online access again; you can access all your accounts with your existing login credentials.

Your current beneficiary designation(s) at Fidelity will be applied to your new account(s). If you have accounts at both Fidelity and TIAA, your Fidelity beneficiary designation(s) will be applied to your new TIAA account(s). If you only have TIAA accounts, your current beneficiary designation(s) with TIAA will be applied to your new account(s). Be sure to review your designations and make any necessary updates once your new account(s) has been issued.

Now that you have been issued your new TIAA account(s), you can:

• Register at tiaa.org/create for online access to your new account(s). With this access, you will be able to:
  • Verify or update your beneficiaries
  • Update your future investment elections to begin in January 2026
  • Choose eDelivery for communications from TIAA
• Download the TIAA mobile app from the App Store or Google Play for account access on the go.
• If you prefer to speak with a consultant for help with your account, call TIAA at 800-842-2252.

Your previous TIAA account was an agreement between you and TIAA. Your new TIAA account allows the UW more flexibility to enhance the retirement program and explore opportunities that may benefit you and other participants over time. Your retirement savings remain fully yours—this is simply an administrative update to how the plan is structured.

If you already had a TIAA UWRP account prior to October 2025, you may see the following contract types when you log in to view your plan balances:

UWRP:

• Retirement Annuity (RA)

VIP:

• Retirement Annuity (RA)
• Supplemental Retirement Annuity (SRA)
• Group Supplemental Retirement Annuity (GRSA)

If you had a balance in either UWRP or VIP, you were issued a new account in the plan with a balance during the week of October 20, 2025. New accounts were created if you had a balance at TIAA and/or Fidelity. The new contract types that you will see are:

UWRP:

• Retirement Choice (RC)

VIP:

• Retirement Choice Plus (RCP)

Visit tiaa.org/comparison for more information on the differences among the types of accounts or call 800-842-2252 to speak with a TIAA financial consultant.

Yes, you may transfer balances in your existing accounts to the investments in your new account(s) starting in January. However, there are certain things you should consider before doing so. Any money you move out of an existing account cannot be moved back into it. The pros and cons are different for every plan participant. To learn more about liquidity rules and the differences between TIAA account types, please visit tiaa.org/comparison or call TIAA at 800-842-2252.

Your contribution amount will remain the same with the transition from Fidelity to TIAA. However, please note the following:

• Starting January 2026, there will no longer be a two-year optional period for UWRP contributions and UW matching. Employees currently in their two-year optional period will see UWRP contributions begin with the January 9 paycheck in accordance with their age-based contribution rate.
• If you are a UWRP participant aged 50 or older and you’re currently contributing 7.5%, your contribution amount and your UW match will both increase to 10% beginning with the January 9 paycheck.
• All other participants’ contribution rates will remain the same.

The blackout period will begin on December 31, 2025, at 1 p.m. PT and is expected to end the week of January 26, 2026. The blackout period only applies to the UWRP and VIP accounts at Fidelity; you can continue to access any non-UW accounts you may have at Fidelity and your TIAA accounts. Your balances will remain fully invested.
During this time, you won’t be able to:

• Modify your UWRP and VIP Fidelity accounts
• Obtain a loan, distribution or hardship withdrawal from your Fidelity account
• Make loan payments

Your balances will not be visible at Fidelity or TIAA during the blackout period while the transfer of retirement plan assets is completed. After the blackout period ends, your balances will appear in your new TIAA account(s).

Starting January 2026, TIAA will take over all existing loans from Fidelity. If you currently have an outstanding loan(s) with Fidelity, payments cannot be processed during the blackout period. You will need to set up a one-time manual payment for this missed January payment once the blackout period has ended to prevent your loan from defaulting. You’ll also need to reestablish recurring loan repayments with TIAA after the blackout period has ended.

Loan features starting January 2026

The VIP will continue to offer loans. In addition, the UWRP will begin offering retirement plan loans through TIAA starting January 1, 2026. Both loan programs have the following features:

• A fixed rate of interest; loans will be funded directly from your retirement account
• A one-time origination fee:
  • $75 for general purpose loans
  • $75 for primary residence loans
  • $25 for annual loan maintenance fee
• A maximum of two outstanding loans at any one time between both plans.

If you have an existing loan

If you currently have an outstanding loan(s) with Fidelity, an additional communication with instructions from TIAA will be mailed to your home address on file on November 24, 2025.

Your current payments from Fidelity will end December 31, 2025, and you’ll need to update your payment/bank information with TIAA after the blackout period ends to restart your payments. You’ll be mailed separate communications with instructions from TIAA to your home address on file on November 24, 2025.

TIAA’s digital experience makes it easy to view and manage your UW Retirement Plan (UWRP) and Voluntary Investment Program (VIP) accounts in one place. The platform features stronger cybersecurity, simpler navigation, and personalized tools for tracking your progress toward retirement goals. In 2025, TIAA is also moving to a passwordless sign-in process to make account access more secure and convenient.

Learn more in TIAA’s digital transformation overview (PDF).

You were issued a new TIAA brokerage account(s) during the week of October 20, 2025. Beginning January 9, 2026, your current Fidelity brokerage account balance(s) will be automatically transferred to your new TIAA brokerage account(s). The balances will be transferred in-kind to the same investments, if available, with no out-of-market time.

If you have a brokerage account, you must access your new TIAA brokerage account(s) at tiaa.org to make your brokerage investment selections for your contributions that will begin in January. If you make no brokerage investment choices, your contributions withing your brokerage account will be directed to the Federated Hermes Trust for U.S. Treasury Obligations Cash II Fund (TTIXX) beginning in January.

Please note: Any investment choices you select will become effective with the first paycheck in January and will not impact how your balances are transferred from Fidelity.

If you are invested in brokerage, a separate communication with additional details was mailed on October 10 from TIAA to your home mailing address on record with Fidelity.

You might find it easier to manage your retirement money by working with one provider. That said, transferring balances can sometimes trigger costs. Consider 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 financial needs. You should seek the guidance of your financial professional and tax advisor before consolidating balances.

If you have additional questions, please visit tiaa.org/schedulenow or call TIAA at 800-732-8353, weekdays, 5 a.m. to 5 p.m. PT, to schedule a meeting.

No. Only your UWRP and VIP retirement plan accounts are affected by this transition.

No. This is not an option. However, TIAA offers the same investments that you currently have at Fidelity. By moving to TIAA, you’ll be able to choose from these same investments while taking advantage of all that TIAA has to offer, including overall lower costs.

Your existing Fidelity balances will be directed to your new TIAA account(s) and the same investment options you currently have during the week of January 9, 2026. All balance transfers will occur in kind, meaning your holdings will not be sold or repurchased; they will simply transfer from your current Fidelity account(s) to your new TIAA account(s). Your balances will remain fully invested during this period.

Starting in January 2026, all payroll contributions will be directed to your new TIAA account(s). If you make no changes to your future investment options before the first contribution in January, your contributions will be directed to the same investment options you had at Fidelity as of the issuance of your new account(s), which you can verify by calling TIAA or logging in to your account at tiaa.org. This is also reflected in your Welcome Kit materials.

If you have a Fidelity brokerage account, you will need to choose your investments for contributions beginning in January, or they will be directed to the default fund. A separate communication with additional details was mailed on October 10 from TIAA to your home mailing address on record with Fidelity.

Any balances in these accounts will remain there, although no new contributions, rollovers or transfers may be made to these accounts. You can continue to transfer balances among the available investment options.

You may choose to transfer these balances to your new account(s) in January. A decision to transfer is permanent, and money cannot be transferred back to the legacy accounts (Retirement Annuity, Supplemental Retirement Annuity and Group Supplemental Retirement Annuity accounts). To discuss these options further, call TIAA at 800-842-2252 to speak with a financial consultant.