The University of Colorado routinely reviews its retirement programs to ensure it provides competitive retirement benefits. A recent review successfully initiated a reduction of administration fees for the CU retirement plans administered by TIAA effective for 2025.

This reduction is part of CU’s ongoing commitment to provide the best possible benefits to help maximize employee’s retirement savings. 

The university has three retirement options administered by TIAA: the mandatory 401(a) and Student Employee Retirement Plan (SERP), and the voluntary 403(b) plan.

Plan administration fees

Plan fees cover TIAA’s recordkeeping services such as statements, customer service support and online tools. Administrative services are also covered under fees, such as the plan’s investment consultants, auditors, accountants and legal counsel services.   

Plan administration fees are assessed on a quarterly basis and charged based on the balance on the last day of the previous quarter. Below, please find the 2024 fees and the negotiated 2025 fees.

Plan fees cover TIAA’s administrative costs such as accounting, recordkeeping and legal services.

Investment-specific fees

Investment-specific retirement fees are charged for investment management and associated services and are assessed via an expense ratio — a percentage of total assets based on the plan owner’s chosen investments. For example, an expense ratio of 0.05% would charge $5 for every $1,000 invested in a fund with that expense ratio.

Additionally, a small number of funds engage in revenue sharing, whereby those funds cover a share of TIAA’s recordkeeping administration fees. Plan holders invested in such funds will see a “Plan Servicing Credit” on their quarterly statements, assuming they paid the dollar-per-participant fee as outlined above.

The calculation of investment fees, and application of the reduced fees, is dependent upon several factors:

• Account balances that precede July 15, 2015 are “frozen” with the fee rates that applied as of July 15, 2015.
• Account balances dated after July 15, 2015 will have current expense ratio amounts applied based on the funds that money is invested in.

The expense ratio tables for each fund type can be found on TIAA’s investments page and in the TIAA participant letters for the 401(a) and 403(b) plans and for SERP account holders.