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TIAA-CREF offers yearly portfolio rebalancing

To maintain an appropriate risk/reward balance within retirement investment portfolios, TIAA-CREF suggests that employees in its retirement programs rebalance their portfolios periodically. However, plan participants often don’t get around to doing this. So, TIAA-CREF is introducing automatic portfolio rebalancing through its Asset Allocation Services.

To use this service, plan participants first decide on an initial asset allocation mix that best suits their risk tolerance and investment style. They can either maintain their existing portfolios, choose one of TIAA-CREF’s suggested models based on risk tolerance, or create a new asset allocation mix on their own.

Once they make the selection, participants simply elect that TIAA-CREF rebalance their portfolios back toward that target by signing up for automatic portfolio rebalancing through Asset Allocation Services.

The new service is free, and it allows participants to have their portfolios rebalanced once a year, on or around their birth dates. In addition to convenience, this service offers flexibility — participants can change their investment strategy, or even cancel the service, at any time.

“Signing up is easy,” said Jan Rauk, associate director of Benefit Services at Washington State University. Employees may go to http://www.tiaa-cref.org and click on “Secure Access” for their account information, or they may phone the TIAA-CREF Telephone Counseling Center at 800-842-2776.

PERS annual statements mailed out in November
WSU employees on the PERS retirement plans will receive their annual statements via campus mail. Employees will see a new and improved version of the statement, redesigned in response to members’ comments and suggestions.

“This new annual statement highlights retirement plan features, describes retirement rights and benefits, and provides important information for retirement planning,” said Marie Weiss, WSU retirement specialist.

The statements reflect service credit and contributions reported for PERS I and II. All PERS III members receive service credit information in their annual statement, but they should refer to their quarterly defined contribution statements for their account balance information.

The Washington State Department of Retirement Systems (DRS) sends annual statements to all active members through their employers, and WSU distributes these to employees via interdepartmental mail. Inactive members may request annual statements by contacting DRS at 800-547-6657, or via the website at http://www.drs.wa.gov.

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