A direct transfer moves your U-M retirement plan assets between TIAA and Fidelity within the U-M plan. Direct transfers are available to current and former employees at any age, and U-M authorization is not needed. You cannot make a direct transfer to an IRA. In contrast, a rollover is used to move TIAA and Fidelity assets out of the U-M retirement plans to an IRA or another employer’s retirement plan. However, you must first be eligible to take a cash withdrawal to enact a rollover.

Important!

The following steps are critical to transfer assets between TIAA and Fidelity. Please note the steps outlined must be completed correctly or your transfer will be delayed or rejected.  

Contact the investment company (TIAA or Fidelity) you want to receive your assets to start the process and provide verbal instructions over a recorded line. The receiving company will help you with the appropriate steps to complete the transfer.

Moving Assets From TIAA to Fidelity

Do you need to change your payroll contributions from TIAA to Fidelity?

The steps outlined below will transfer accumulations on deposit from TIAA to Fidelity. However, it will not change where your ongoing payroll contributions go. If you currently have your payroll contributions directed to TIAA and want to have future deposits go to Fidelity, you must use Wolverine Access Self-Service Benefits to change them to Fidelity. Otherwise, contributions will continue to be deposited at TIAA, and you may have to make another transfer of assets if your goal is to move all of your assets on deposit from TIAA to Fidelity.

1. For steps to change your paycheck deductions from TIAA to Fidelity, visit hr.umich.edu/retirement-enroll-change.

2. Open your U-M account at Fidelity.

Make sure you have a U-M Retirement Plan account at Fidelity established prior to initiating a direct transfer or your assets will be returned to TIAA.  If you do not have a U-M account at Fidelity, you can open one by calling Fidelity at 800-343-0860.

3. Call Fidelity at (800) 248-4213 to provide verbal instructions over a recorded line; this will start the transfer.

4. Call TIAA at (800) 842-2242 to provide verbal instructions over a recorded line to complete the TIAA transfer form. You must include the following mailing address in your directions to TIAA:

Fidelity Investments
PO Box 770002
Cincinnati, OH 45277-0090

The PO Box 770002 address MUST be used when sending the TIAA transfer form to Fidelity via U.S. mail. There will be delays in your transfer or it will be rejected if you use another address.

After the TIAA telephone consultant prepares the Transfer Form, it will appear in your secure online account at tiaa.org for you to approve electronically. You can also request that the form is mailed to you for you to sign and mail back to TIAA.

5. TIAA transfers your assets to Fidelity.

Once you have completed the TIAA transfer form, TIAA will transfer your U-M Retirement Savings Plan assets to your U-M retirement plan account at Fidelity.

Moving Assets From Fidelity to TIAA

Do you need to change your payroll contributions from Fidelity to TIAA?

The steps outlined below will transfer accumulations on deposit from Fidelity to TIAA. However, it will not change where your ongoing payroll contributions go. If you currently have your payroll contributions directed to Fidelity and want to have future deposits go to TIAA, you will need to use Wolverine Access Self-Service Benefits to change them to TIAA. Otherwise, contributions will continue to be deposited at Fidelity, and you may have to make another transfer of assets if your goal is to move all of your assets on deposit from Fidelity to TIAA.

1. For steps to change your paycheck deductions from Fidelity to TIAA, visit hr.umich.edu/retirement-enroll-change.

2. Open your U-M account at TIAA.

Make sure you have a U-M Retirement plan account at TIAA established prior to initiating a direct transfer or your assets will be returned to Fidelity. If you do not have a U-M account at TIAA, you can open one by calling TIAA at (800) 842-2252.

3. Call TIAA at (800) 842-2252 to complete the TIAA transfer form.

• Provide verbal instructions over a recorded line to complete the TIAA transfer form.

• After the TIAA telephone consultant prepares the transfer form, it will immediately appear in your secure online account at tiaa.org for you to approve electronically. You can also request that the form be mailed to you for you to sign and mail back to TIAA.

• Once you approve the TIAA transfer form in your online account or you have returned the paper form to TIAA, TIAA will send a Letter of Acceptance to Fidelity confirming you have a U-M Retirement Savings Plan account with TIAA, that they will accept your assets from Fidelity, and provide Fidelity with the mailing address to send your assets to TIAA.

4. Fidelity transfers your assets to TIAA. 

Once Fidelity receives the Letter of Acceptance from TIAA and you have completed the TIAA Transfer Form, Fidelity will transfer your U-M Retirement Plan assets to your U-M Retirement Plan account at TIAA.

Record Keeping Numbers

TIAA and Fidelity assign record keeping numbers that identify and distinguish U-M's Basic Retirement Plan, 403(b) SRA and 457(b) plans from each other. You must indicate the plan names and numbers on the forms and through verbal instructions to TIAA and Fidelity when enacting a direct transfer to ensure assets are deposited into the correct plan you intend. The following are the U-M plan types and their record keeping numbers with TIAA and Fidelity: