As Wake Forest University transitions the Plan to Fidelity, most key features of your retirement plan will remain unchanged to help ensure a smooth and seamless experience for you. The following items outline what will stay the same during the transition so you can feel confident that your existing elections, contributions, and eligibility will remain unchanged.

What’s Staying the Same During the Transition?

Eligibility to Participate in the Plan
There will be no change to the eligibility requirements to participate in the Plan.

Employer Contribution
The employer contribution that Wake Forest University contributes to your account will not change as a result of the transition.

What’s New...

With the move to Fidelity, you'll gain access to enhanced tools, resources, and support designed to help you make the most of your retirement savings.

Percentage Contribution Elections
The amount of pretax and/or Roth contributions deducted from your pay in effect as of January 4, 2027, will continue and transfer to Fidelity. Important: Employee contributions will be made as a percentage of your pay. If you currently contribute a specific flat dollar amount, you should contact TIAA and change your employee contribution amount to a percentage by 4:00 p.m. ET on January 4, 2027. If you don’t take action, your dollar contribution will be updated automatically to an equivalent percentage contribution rate.

If you are enrolled in TIAA’s automax feature, please see below for additional information.

Maximize My Contributions

Fidelity’s Maximize My Contributions (“Maximizer”) service, which is similar to TIAA’s automax feature, takes the guesswork out of managing your contribution elections within your retirement plan, helping you to accelerate your savings and stay on track. Maximize My Contributions uses the information you provide, the annual IRS contribution limits, and details provided by your employer to adjust your contributions for you.

  • Elections carry over and automatically adjust each year. Fidelity updates your contribution amounts based on annual IRS limits, including catch-up contributions, if you are eligible.
  • The Maximizer spreads your contributions evenly throughout the year so that you’ll reach the applicable IRS contribution limit. You’ll receive a confirmation notification from Fidelity when this occurs.
  • You’re in control of how much you contribute and where your contributions go. You can review and modify your election at any time.

You can change your contribution election in Fidelity’s Maximize My Contributions service at any time on the Fidelity NetBenefits® contributions page. If you are currently enrolled in TIAA’s automax feature, you will be automatically enrolled in Fidelity’s Maximize My Contributions service and your salary deferral will continue.

NetBenefits® Website: NetBenefits.com/AtWork
On the NetBenefits website, you get access to Fidelity’s comprehensive website dedicated to retirement planning. Manage your account, make investment choices, and find interactive tools to help you better prepare to meet your retirement savings goals.

The NetBenefits Mobile App
You can get instant access to balances, investments, educational resources, and more.

Action May Be Required for the Following:
As part of the upcoming transition to Fidelity, there are several important steps that may require your attention. The information below outlines key changes related to outstanding loans, beneficiary designations, and systematic withdrawal payments. Please review these details carefully to help ensure a smooth transition and to avoid any disruptions to your account or repayment activities.

Loans
If you have a retirement plan loan balance at TIAA that is transferring to Fidelity, you will receive a letter from Fidelity. For loans that are transferring from TIAA to Fidelity, the bank information on file with TIAA will also transfer. We encourage you to review, or add, your banking information once the transition is complete. This transition will not affect the terms or length of your loan(s).

Beneficiary Designations
To ensure your beneficiary designation transfers to the Plan at Fidelity, please verify that your designation with TIAA includes the beneficiary’s full name and either their date of birth or Social Security number. With Fidelity’s Online Beneficiaries Service, you can designate your beneficiaries, receive instant online confirmation, and check your beneficiary information virtually any time. Once the transition is complete, log on to Fidelity NetBenefits®  or call Fidelity to confirm that your beneficiary information is correct.