CSU retirement plans are currently with Corebridge, TIAA or Fidelity. Each of these companies keeps records of your investments – they are called recordkeepers — even if you have CSU retirement investments with various companies. When the plans transition to Fidelity this June, Fidelity will be the only company that keeps records about your retirement investments.

In addition to keeping records, these companies also perform what’s called administrative services. Those include verifying and distributing your money into the investments you choose, for example. 

Choosing one company to serve as the sole recordkeeper is a best practice; with the decision to make Fidelity the sole recordkeeper of CSU retirement accounts, the university was able to negotiate certain benefits, including a low fee structure. as part of its contract with Fidelity.

Collectively, CSU retirement plan participants will save millions of dollars in fees each year under the new structure.

The university does not receive any fees you pay.

Below are charts explaining how fees will change as part of this transition, include examples of recordkeeping fees, which will vary by each investment fund.


Administrative Fees

  • Administrative fees are paid to the company that is the retirement plan service provider to manage your plan and keep records of your investments. Previously, those companies were TIAA, Corebridge and Fidelity.
  • CSU has negotiated a fixed fee with Fidelity for each participant. Previously, you may have been charged for each type of CSU retirement investment you had; if you had investments in both a DCP and a 403(b), you were charged two separate fees.
  • We are in the process of determining how many accounts will transfer to Fidelity from Corebridge and TIAA. Then Fidelty fees will be shared equitably across participants.
  • You will pay one fixed fee if you are enrolled in the DCP, 403(b) or both under this model.
  • Currently you pay a fee for each account under Fidelity, TIAA or Corebridge.

Annuities and fees

I have an annuity that will not transfer. Will the fees for my accounts with Corebridge and TIAA change after the transition?

If you do not request that your annuities move to Fidelity, the fees charged to you by Corebridge and TIAA could change over time. The lowest investment fee option is with the new investment line-up selected by the University’s Retirement Investment Committee and the administration fees that will be paid to Fidelity.

See the annuity information page for more information about annuities that may not transfer without a specific request.


Investment Fees

  • You currently pay investment fees to TIAA, Corebridge or Fidelty to manage your retirement fund.
  • These fees are based on a percentage of assets you have in an investment fund. These are disclosed in the fund prospectus.
  • Fees are deducted from your investment balance through an indirect charge against your account.
  • Your net total return is your return after these fees have been deducted.
  • The new core fund line-up selected by the CSU Retirement Investment Committee chose best in class funds with competitive performance and investment fees.

Below are examples of how fees will change under the new structure. Because investment fees are based on a percentage of assets, these are examples only but show a comparison of current investment fees to investment fees after the transition.