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ORP/403(b) Changes FAQs

ORP/403(b) Enhancements - Fall 2017

What is changing at this time?

The Optional Retirement Plan’s and Voluntary 403(b) Plan’s investment lineups will be enhanced, resulting in new funds added and a change of some share classes. The changes are detailed in a September 27, 2017, mailing sent to your home.

Who administers the ORP and 403(b) Plan?

The Arizona Board of Regents is the plan administrator for the Optional Retirement Plan and Voluntary 403(b) Plan. These plans are offered at the three Arizona universities and the Arizona Board of Regents.

Why are the changes occurring?

The Arizona University System is always evaluating the retirement plans it offers to ensure the best options are available.  The enhancements to the Voluntary 403(b) Plan and the Optional Retirement Plan will result in more consistency in the funds offered across vendors for both of the plans, provide additional opportunities to diversify and lower fees. 

Will the investment providers be changing?

No. There is no change to the providers, Fidelity Investments and TIAA. The current changes will only affect the funds available in the Optional Retirement Plan and Voluntary 403(b) Plan. 

Why are the share classes changing?

Changing share classes reduces your overall expenses.  However, the funds continue to offer you the same investment strategy and risk.

How do I know if I participate in the Voluntary 403(b) Plan or the Optional Retirement Plan?

To determine if you are currently contributing to the Voluntary 403(b) Plan or the Optional Retirement Plan, visit UAccess Employee and select Employee/Manager Self Service > Benefits > Benefits Summary. The summary will include a contribution amount for the Voluntary 403(b) Plan and the Optional Retirement Plan if you are contributing.

Will I have to take action?

No. You do not need to do anything. The changes outlined in the document that you will receive will occur with no action required from you. 

When can I invest in the new investment options?

The new investment options will be available when the market closes (generally 1:00 p.m. Mountain time) on October 27, 2017.

How do I invest in the new investment options?

If you would like to request changes to your account with Fidelity Investments you can log on to

NetBenefits® at www.netbenefits.com/aus or call 1-800-343-0860 Monday through Friday, between 5 a.m. and 9 p.m. Mountain time.

If you would like to request changes to your account with TIAA or move assets into the new investment

options, you can access your account online at www.tiaa.org/arizona or call 800-842-2252, weekdays from 5 a.m. to 7 p.m., or Saturday, 6 a.m. to 3 p.m. Mountain time.

You may also meet with a representative from Fidelity Investments or TIAA.  See the Frequently Asked Question below to learn how.

Will there be additional changes to the retirement plans in the future?

Additional information on any future changes will be provided in Spring 2018.

Can I meet with a representative from Fidelity Investments or TIAA to learn more?

Representatives from Fidelity Investments and TIAA are available to help with any questions. 

Fidelity Investments – Damond Petersen (866)588-2612

TIAA – Mark Largent (866)548-3705 ext. 453249 or Donn Fitch (480) 350-3209

To schedule an appointment with Fidelity, call 1-800-343-0860 or click here (link is external).  

To schedule an appointment with TIAA-CREF, call (800) 732-8353 or click here (link is external). 


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