All annuity investment options at Corebridge and TIAA will no longer be available in the ORP effective December 2, 2024. This means that no new contributions will be allowed to be invested in the annuity options, however your ORP annuity account balances will remain. This may affect how your future contributions may be invested and how you manage your account balances.

Annuity Balances: All ORP annuity account balances held at Corebridge and TIAA will not transfer to Fidelity automatically. This means your annuity account balances will remain and you will continue to manage the annuity assets separately from your account at Fidelity. The balances held in the following annuities at TIAA will not transfer to Fidelity:

CREF Core Bond R3 

CREF Equity Index R3

CREF Inflation-Linked Bond R3

CREF Global Equities R3

CREF Growth R3

CREF Money Market R3^

CREF Social Choice R3

CREF Stock R3

TIAA Real Estate

TIAA Traditional

• Participants can individually elect to move annuity account balances to Fidelity by initiating a Contract Exchange.
• Participants can choose to move all, or a portion of their annuity account balances once the blackout period has ended at Fidelity.
• A Contract Exchange needs to be initiated with your specific provider, Corebridge or TIAA.
• Note, online transactions for annuity account balances at Corebridge and TIAA may be restricted during the blackout period.

New Contributions: All ORP contributions directed to the annuity options listed in the table below will be invested according to the new investment option with Fidelity.

• Investment allocations for contributions directed to all other annuity options not listed in the table below will be invested in the ORP default investment option as described in the Default investment option section of the Transition Guide.
• If you have investment allocations on file at both Corebridge and TIAA, your elections with TIAA will supersede the elections with Corebridge.

⁺You could lose money by investing in a money market fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund’s sponsor is not required to reimburse the fund for losses, and you should not expect that the sponsor will provide financial support to the fund at any time, including during periods of market stress.

You are not permitted to make a direct exchange from New York Life Guaranteed Interest Account to Vanguard Federal Money Market Fund Investor Shares (considered “competing funds”). Before exchanging from New York Life Guaranteed Interest Account, you must first exchange to a “noncompeting” fund for 90 days. While these requirements may seem restrictive, they are typically imposed by issuers such as insurance companies, banks, or other approved financial institutions, as a condition for issuing investment contracts to retirement plans.

^>CREF Money Market R3 is not an SEC-registered money market mutual fund and is not subject to the SEC’s requirements regarding the maturity, quality, and diversification of a money market fund’s underlying investments. There is no guarantee that this product will maintain a stable value, and the value of a share may vary.