Maximize Your TIAA Program 3.0

Many large organizations, like universities and hospitals, have long provided their employees with a TIAA Benefits Trust 403(b) retirement plan—but may not be aware of a major record keeping administrative problem they face in maintaining and growing that program.

Legacy participants in the plan, prior to 2008, are considered individuals for record keeping and program administration, whereas post-2008 participant decisions are administered as a group plan. This disjointed governance leads to inefficient, time consuming, and expensive administration costs for an organization, and hindered growth potential for individual and group participant outcomes alike.

We are a preferred TIAA retirement consulting firm that specializes in non-profit plan administration

We have been provided with a unique solution that can streamline record keeper administration for plan sponsors who face this challenge. TIAA has given Sapers & Wallack access to their internal barcode system for individual plan decisions, so we can now offer a bulk cross-plan transfer that can unify legacy and group plan participant programs to create a more efficient and better performing TIAA Benefits Trust 3.0 program.

Take a look at our graphic that shows the various types of contracts TIAA record keeps for participants and distribution rules for TIAA Traditional.

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The switch to this unified and updated program has been shown to yield:

  • Streamlined program administration
  • Significant record keeper cost-saving for an organization
  • Potentially better participant outcomes for legacy and group plan participants

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Listen to Scott Tuxbury discuss the situation and solution in our short podcast.


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