If you have problems reading this, visit http://www.miami.edu/communications/messages/2011-2012/bf_08_17_11.html.

August 17, 2011


Dear Colleagues:

This summer the University made changes to the investment structure and administration of the UM 403(b) plans. The transition to Fidelity as the 403(b) plan administrator was a significant change. While the process went smoothly for most, some of our people experienced difficulties. I want to thank you for your patience and understanding during this process.  

The changes were prompted by new federal law and, as a whole, offer substantial improvements. A team of UM faculty, staff, and trustees came together as the University’s 403(b) Investment Committee. They determined the four-tier investment structure and selected funds with a strong record of returns and lower fees. The committee will continue to monitor these funds to ensure that UM offers investment options that meet the needs of our employees. 

The change in the 403(b) investments required employees to take a closer look at retirement savings options. While some employees made investment changes, others allowed their investments to automatically move to the new structure. Now is a good time to review your investment allocations and confirm that investments—past and future—match elections that you made. 

Fidelity’s UM-dedicated website is the main resource for managing your retirement plan. At plan.fidelity.com/UM you can enroll and make payroll contribution and investment changes at any time. You can also take advantage of retirement planning tools and resources. If you are investing in TIAA-CREF annuities, certain transactions are managed at www.tiaacref.org/uofmiami

  • To enroll or make changes to 403(b) investments and payroll contributions, click here
  • For information on navigating the new websites, click here

Fidelity and TIAA-CREF representatives are available for on-campus and phone one-on-one consultations.

  • To schedule an appointment with a Fidelity representative, visit www.fidelity.com/atwork/reservations, or call Fidelity at 1-800-642-7131. To schedule a consultation with a TIAA-CREF representative, call 1-800-732-8353. 
  • For a schedule of webcasts on managing your 403(b) in the new structure and the Fidelity Brokerage Link account, click here.

The University’s retirement program is a valuable part of your overall benefits. Be sure to take advantage of the resources that are available to help you manage your investments over time. As always, if you have questions or concerns, you may email me directly at umbenefits@miami.edu.


Joe Natoli
Senior Vice President for Business and Finance
and Chief Financial Officer