Fund Fees and Expenses

Investment carriers pay for their operations by assessing fees on their investment funds.  The fees are subtracted from the investment returns or earnings of those funds.  The combination of these fees will generally equal a fund’s expense ratio, which is reported as a percent of assets under management.  

There are no sales charges or loads on any TIAA-CREF or Fidelity Investments proprietary funds offered through the U-M plans.  All transaction fees (ex. for taking a loan, cash withdrawals, etc.) have been waived and there are no account maintenance fees.  In addition, U-M does not pay any fees to TIAA-CREF or Fidelity Investments.

All CREF variable annuities, TIAA-CREF mutual funds, and the Fidelity Investment Freedom Index Funds through U-M plans are offered at the lowest-cost share class available.  Twenty-nine Fidelity mutual funds are offered through the Class K shares which have lower fees than the non-Class K share class available to the general public.  In addition, the 14 Vanguard mutual funds available through the TIAA-CREF and Fidelity recordkeeping platforms are offered at the lower-cost Institutional, Admiral, or Investor share classes.  Low fees mean more of your money remains in your account, working toward your financial future, and your retirement account balances have more earning potential.  

The ticker symbols and expense ratios for the U-M designated default investment funds, TIAA-CREF Lifecycle Index and Fidelity Freedom Index, are listed below.  Details about all fund choices are available from each investment company's website.

TIAA-CREF Lifecycle Index Funds (Ticker Symbol) – Expense Ratio

  • TIAA-CREF Lifecycle Index Retirement Income (TRILX) - 0.21%
  • TIAA-CREF Lifecycle Index 2010  (TLTIX) - 0.20%
  • TIAA-CREF Lifecycle Index 2015  (TLFIX) - 0.19%
  • TIAA-CREF Lifecycle Index 2020  (TLWIX) - 0.20%
  • TIAA-CREF Lifecycle Index 2025  (TLQIX) - 0.19%
  • TIAA-CREF Lifecycle Index 2030  (TLHIX) - 0.19%
  • TIAA-CREF Lifecycle Index 2035  (TLYIX) - 0.19%
  • TIAA-CREF Lifecycle Index 2040  (TLZIX) - 0.19%
  • TIAA-CREF Lifecycle Index 2045  (TLXIX) - 0.19%
  • TIAA-CREF Lifecycle Index 2050  (TLLIX) - 0.19%

Fidelity Freedom Index Funds: Class W (Ticker Symbol) – Expense Ratio

  • Fidelity Freedom Index Income: Class W (FIKFX) - 0.19%
  • Fidelity Freedom Index 2010: Class W (FKIFX) - 0.19%
  • Fidelity Freedom Index 2015: Class W (FLIFX) - 0.19%
  • Fidelity Freedom Index 2020: Class W (FPIFX) - 0.19%
  • Fidelity Freedom Index 2025: Class W (FQIFX) - 0.19%
  • Fidelity Freedom Index 2030: Class W (FXIFX) - 0.19%
  • Fidelity Freedom Index 2035: Class W (FIHFX) - 0.19%
  • Fidelity Freedom Index 2040: Class W (FBIFX) - 0.19%
  • Fidelity Freedom Index 2045: Class W (FIOFX) - 0.19%
  • Fidelity Freedom Index 2050: Class W (FIPFX) - 0.19%