Effective April 24, 2015 there will be a new expense ratio classification structure for the CREF Accounts offered through Washington State University (WSU). Prior to this date, there was a single-class fee structure, which will be converting to three separate classes. The good news is WSU’s identified class will result in a decrease in our expense ratio! This change will have no impact on the investment strategies, objectives and risk profiles for the eight CREF Accounts, which will remain the same.
Beginning in February, 2015, TIAA-CREF will be notifying WSU participants about the new CREF classes. You can expect to receive a package of information outlining:
• The class in which Washington State University’s retirement plan(s) will be placed
• The class for any other employer plan(s) in which you may have participated
• The class for any TIAA-CREF individual plans/products (e.g., IRAs) you may own
As information becomes available, it will be posted to the HRS Benefits website. Please be assured that you need to nothing in order to have the reduced rate applied to your CREF accounts. The change will happen automatically. You are encouraged to wait for the packet of information from TIAA-CREF before directing any questions you may have to TIAA-CREF, 1-800-842-2252.
