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For Institutional Investor Use Only. Not For Distribution To The General Public. COUNTY OF ORANGE 1.62 DEFINED CONTRIBUTION PLAN.

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Presentation on theme: "For Institutional Investor Use Only. Not For Distribution To The General Public. COUNTY OF ORANGE 1.62 DEFINED CONTRIBUTION PLAN."— Presentation transcript:

1 For Institutional Investor Use Only. Not For Distribution To The General Public. COUNTY OF ORANGE 1.62 DEFINED CONTRIBUTION PLAN

2 2 TIAA-CREF is the 1.62 Defined Contribution Plan Administrator Non-Commissioned Representatives Personalized Third-Party Investment Advice Local Office in Newport Beach 1-800-209-3140 National Call Center at 1-800-842-2252 24/7 Online Services Financial Education

3 3 Defined Contribution Plans The County has two 457 Defined Contribution Plans A 457 Plan is governed by Internal Revenue Code This presentation will focus on the 1.62% Defined Contribution Plan Employees hired on or after 5/7/2010 are eligible to elect the 1.62% at 65 Retirement formula Only Employees that elect the 1.62% Retirement formula are eligible to participate in the 1.62% Defined Contribution Plan You can voluntarily set aside a portion of your bi-weekly income on a pre- tax basis It can help you save and invest money for retirement

4 4 Voluntary Contributions Contributions to the 1.62% Defined Contribution Plan are voluntary & are in addition to your (mandatory) OCERS Defined Benefit Pension contributions You may increase or decrease your employee contribution at any time The minimum contribution amount is $1.00 bi-weekly You can contribute 100% of your includible income up to $17,000 combined with the other 457 plan in 2012 Loans and Hardships are not available under the 1.62% Defined Contribution Plan

5 5 Employer Matching Contributions The County will match bi-weekly employee contributions to the plan, up to 2% of base salary per pay period. This amount may change based on changes to the Plans. Employee contributions vest immediately on behalf of the employee Employer matching contributions vest on behalf of the employee after five (5) years of continuous employment with the County

6 6 Maximizing Matching Contributions Employee contributions towards the 1.62% Defined Contribution Plan & the County Voluntary 457 plan (should you choose to participate) are subject to the same collective IRS yearly maximums. Please contact TIAA-CREF to discuss your individual situation or make an appointment to meet with an Individual Consultant from their Newport Beach Office at 1-877-209-3140.

7 7 Managing Your Account Your employee contributions will go into the 1.62 Defined Contribution Plan (457 plan) for you to manage The employer matching contributions will go into a 401(a) plan for you to manage Your 1.62 Defined Contribution Plan’s 457 and your 401(a) accounts will be invested in the TIAA-CREF Age Appropriate Lifecycle Fund unless you make an active investment election To enroll, go online at or call TIAA- CREF toll-free at 1-800-842-2252, Monday-Friday 5:00 a.m. to 7:00 p.m. & Saturday 6:00 a.m. to 3:00 p.m. Pacific

8 8 Resources & Tools Manage Account Online Find overview of retirement and investment education Perform paycheck comparisons Review available funds Set up your account for Automatic Rebalancing Schedule an Individual Consultation with a local TIAA- CREF Representative from their Newport Beach Office TIAA-CREF National Call Center Representatives are Available Mon-Fri 5:00 am – 7:00 pm PST Personalized Third Party Investment Advice Available Review your account balance Transfer between funds Change your contribution Change your allocations 1-800-842-2252

9 9 Benefits Of Participating Employer matching contributions Easy payroll deduction Contributions and any earnings grow on a tax deferred basis Wide variety of investment choices Manage your account on-line 24/7 Non-Commissioned TIAA-CREF Customer Service Representatives are available to assist you Monday-Friday 5:00 am - 7:00 pm (Pacific Standard Time) Access your money when you: – Terminate employment from the County – Retire

10 10 Investment Options Funds to be mapped ING Global Real Estate Fund TIAA-CREF Lifecycle Fund 2050 (TFTIX) TIAA-CREF Lifecycle Fund 2045 (TTFIX) TIAA-CREF Lifecycle Fund 2040 (TCOIX) TIAA-CREF Lifecycle Fund 2035 (TCIIX) TIAA-CREF Lifecycle Fund 2030 (TCRIX) TIAA-CREF Lifecycle Fund 2025 (TCYIX) TIAA-CREF Lifecycle Fund 2020 (TCWIX) TIAA-CREF Lifecycle Fund 2015 (TCNIX) TIAA-CREF Lifecycle Fund 2010 (TCTIX) TIAA-CREF Lifecycle Retire Inc Instl (TLRIX) TIAA-CREF Lifecycle Retirement income Fund (TLIRX) CREF Social Choice Funds to be mapped GUARANTEED Investing involves risk, including possible loss of principal. * TIAA Traditional is a guaranteed insurance contract and not an investment for Federal Securities Law purposes. Guarantees are based on the claims-paying ability of TIAA. ** An investment in the CREF Money Market Account is not a deposit of any bank and is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other U.S. government agency. TIAA-CREF Lifecycle Funds available through the Institutional Class of shares of TIAA-CREF Institutional Mutual Funds. TIAA-CREF Mutual Funds available through the Retirement Class of shares of TIAA-CREF Institutional Mutual Funds. 6 Funds to be mapped MONEY MARKETFIXED INCOMEREAL ESTATEMULTI-ASSETEQUITIES LOWER RISKMEDIUM RISK HIGHER RISK

11 11 Lifecycle Funds Use a Fund of Funds representing different asset classes Choose the Fund with the “End Date” that most closely matches the approximate year you'll begin withdrawals (target retirement date) Funds are Professionally Managed Allocation Mix Adjusted Automatically over the years as the retirement year approaches* Please note that as with all mutual funds, the principal value of a Lifecycle Fund isn’t guaranteed. Also, please note that the target date of a Lifecycle Fund is an approximate date when investors may begin withdrawing from the Fund. * Approximately seven to ten years after a Lifecycle Fund’s target date, the fund may merge into the Lifecycle Retirement Income Fund or a similar fund. TIAA-CREF Lifecycle Funds share the risks associated with the types of securities held by each of the underlying funds in which they invest. In addition to the fees and expenses associated with the Lifecycle Funds, there is exposure to the fees and expenses associated with the underlying mutual funds as well.

12 12 Building Your Own Portfolio New investment menu features a variety of funds from different companies Make your own selections – Choose from a variety of mutual funds and variable annuities Get guidance with Asset Allocation Evaluator Get personalized fund-level advice from noncommissioned consultants 1 1 TIAA CREF compensates the consultants through a salary-plus-incentive program based on client service excellence and financial results. Advisors will only recommend products that help achieve our clients’ goals.

13 13 Investment Advice Personalized Fund-Level Advice – based on your goals – developed through partnership with Ibbotson Associates 1. How much do I need to save now? 2. How should I allocate my portfolio? 3. When can I retire?

14 For Institutional Investor Use Only. Not For Distribution To The General Public. QUESTIONS?

15 15 Investment products are not FDIC insured, may lose value and are not bank guaranteed. You should consider the investment objectives, risks, charges and expenses carefully before investing. Please call 1-800-842-2252 for additional copies, or visit for a current prospectus that contains this and other information. Please read the prospectus carefully before investing. The tax information contained herein is not intended to be used, and cannot be used, by any taxpayer for the purpose of avoiding tax penalties that may be imposed on the taxpayer. It was written to support the promotion of the products and services addressed herein. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor. TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Brokerage Services are provided by TIAA-CREF Brokerage Services, a division of TIAA-CREF Individual & Institutional Services, LLC, members FINRA and SIPC. Retirement Choice TIAA Contract form Series IGRS-01-5-ACC, IGRS-01-60-ACC, and IGRS-01-84-ACC; TIAA Certificate Series IGRS-CERT1-5-ACC, IGRS-CERT1-60-ACC, IGRS-CERT1-84-ACC; CREF Contract form series CIGRS; CREF Certificate series: CIGRS-CERT1. Retirement Choice Plus TIAA Contract form Series IGRSP-01-5-ACC, IGRSP-01-60-ACC, IGRSP-01-84-ACC; TIAA Certificate Series - IGRSP-CERT1-5-ACC, IGRSP-CERT1-60-ACC, IGRSP-CERT1-84-ACC; CREF Contract form series: CIGRSP; CREF Certificate series: CIGRSP-CERT1. ©2010 Teachers Insurance and Annuity Association–College Retirement Equities Fund (TIAA-CREF), 730 Third Avenue, New York, NY 10017

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