Stanford Contributory Retirement Plan Investment Redesign

Are you currently investing in TIAA? If so, effective October 2, 2017, the Stanford Contributory Retirement Plan (SCRP) is streamlining its investment options and administration.

Currently, there are four types of investment options offered in SCRP. As part of Stanford’s continuing effort to simplify employee investment decisions, we are updating the TIAA offerings available through the SCRP. These changes offer more choice in managing retirement accounts by providing improved liquidity and the potential for a higher crediting rate.

If you are investing in TIAA, below is a summary of what's changing:

What's Changing (effective October 2, 2017)

Annuity Contracts

The CREF Money Market and CREF Stock Fund will no longer be available to invest future contributions.
The TIAA Traditional Annuity will remain open for future contributions, however, new Retirement Choice (RC) and Retirement Choice Plus (RCP) contracts will replace the Retirement Annuity (RA) and Supplemental Retirement Annuity (SRA) contracts currently in place.
The TIAA Traditional Annuity RA/SRA contracts will no longer accept contributions after October 2, 2017. Existing balances in TIAA Traditional RA/SRA are not affected.
Employees who wish to contribute to the new TIAA Traditional RC/RCP group contract will have to make an affirmative election as an investment option. Those who do not make an election and are currently deferring in the CREF Money Market, CREF Stock or TIAA Traditional RA/SRA, will have their contributions default into the Vanguard Target Retirement Funds.

Account Administration

Along with the investment menu changes, we are taking steps to streamline the plans’ administrative processes. Assets currently invested in the Vanguard Target Retirement Funds on TIAA’s recordkeeping platform will automatically transition to My Retirement Savings, Fidelity’s recordkeeping platform. Employees don’t need to take any action.

Learn More

Retirement plan investments are an important component in building a successful financial strategy. Below you'll find the many resources available to help you understand what's changing:

audience at seminar or town hall meeting

Town Hall Sessions

Stanford Retirement Savings staff will present the SCRP investment changes and answer questions at town hall sessions in May and September 2017.

SCRP Transition Guide

This guide was published and sent to all SCRP participants affected by the change. It provides details about what's changing and when, and any action you may need to take.