Last month, this column discussed more about the investment structure and asset classes in the new Lehigh Retirement Savings Program. At that time, a decision had not yet been made regarding the vendor who would administer the plan.
On April 25, Provost Pat Farrell and Vice President for Finance and Administration Peggy Plympton sent the following announcement to all staff and faculty:
"We’re pleased to announce that after a thorough and competitive proposal process, TIAA-CREF has been selected to be the plan administration record keeper for Lehigh’s new Retirement Savings Program.
While the name of our administrator is staying the same, you’re going to see big changes in the plan. There will be a whole slate of new best-in-class funds for you to choose from. And, as an employee, you will have the chance to maximize Lehigh’s contribution through the new matching program.
Rest assured, we’ll be providing more information through printed, online and in-person communications in the coming months to help you gain a thorough understanding of the new program and make the most appropriate decisions for your personal retirement needs.
If all of this is news to you, we suggest familiarizing yourself with the steps leading up to this point by reading a few recent publications:
The Benefits Allocation Review:
The Senior Officers Report
More Articles From This Series:
The academic year is winding down, but don’t lose touch! Be sure to check your email this month for additional information about the new retirement program.