The UUA Board of Trustees made TIAA-CREF the new recordkeeper of the UU Organizations Retirement Plan at its meeting May 20, replacing Fidelity Investments. The decision was made on the recommendation of the UUA Compensation, Benefits, and Pension Committee. Both groups voted unanimously for the new recordkeeper.
The Rev. Richard Nugent, director of the UUA Office of Church Staff Finances, and Joyce Stewart, UUA Retirement Plan director, noted that plan participants will not have to take any action as a result of this change. Retirement investments will be transferred to funds that mirror ones they are already invested in.
Information packets will be sent to all 2,800 plan participants, including many staff of UU congregations. The conversion will be made around November 1.* The change was spurred by a growing commitment by the UUA to genocide-free investing, coupled with its disappointment in Fidelity’s refusal to move out of that area.
*This sentence has been corrected. It originally stated erroneously that the conversion would be complete by June 30. InterConnections apologizes for the error.