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We have some good news from TIAA-CREF. Every year funds are set aside to cover the administrative and recordkeeping cost of running the UCAR Retirement Plan. Over the last year, that cost was lower than expected. As a result, the UCAR Retirement Plan will distribute this money in the form of revenue credits to your retirement account by the end of March 2013.
The credit, called a Plan Servicing Credit, will be applied proportionally across your current investment options record kept by TIAA-CREF. You will receive a confirmation statement describing the credit by the end of March. It will also appear on your quarterly statement in April 2013.
Should you have any questions, please contact either Laurie Carr, x8702 or Bob Roesch, x8704.