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Transferring Existing Assets Between Providers

You may transfer assets between Providers at any time. You should use the Providers’ forms to effect such a transfer. These transfers do not require authorization from the Plan Administrator.

You must establish an account with the Provider to whom you are transferring assets. You will find Provider Account Applications on this web site (AIG Retirement, Lincoln or TIAA-CREF). Or you can contact the Providers directly for an application. Submit your completed application directly to the new Provider.

Special Note: If you are also going to remit future contributions to your new Provider, then submit the completed Provider Application to your Campus Benefits Administrator to ensure that the payroll system is updated to reflect your choice of Provider for prospective contributions.

You should consult with a representative of the Providers, from, and to which you are transferring funds, to be certain you understand any fees and restrictions that may be applicable to such a transaction, as well as the economic impact they can have on your long-term accumulation of assets under the plan.

“Grandfathered” assets for lump sum payment (participants younger than age 55): You should remind your current Provider to send information about your “old money” (lump sum rules) to your new Provider when they transfer your funds. While the Providers have agreed to do this, their systems may not send the information automatically; hence the suggestion to remind them about this; ensuring that you do not lose any payment flexibility in the future.

Transfers between Providers do not affect current contributions: Your decision to transfer current assets between Providers does not automatically change the Provider to which future contributions are remitted.