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 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 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 net 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) – Net Expense Ratio

  • Lifecycle Index Retirement Income (TRILX) - 0.10%
  • Lifecycle Index 2010  (TLTIX) - 0.10%
  • Lifecycle Index 2015  (TLFIX) - 0.10%
  • Lifecycle Index 2020  (TLWIX) - 0.10%
  • Lifecycle Index 2025  (TLQIX) - 0.10%
  • Lifecycle Index 2030  (TLHIX) - 0.10%
  • Lifecycle Index 2035  (TLYIX) - 0.10%
  • Lifecycle Index 2040  (TLZIX) - 0.10%
  • Lifecycle Index 2045  (TLXIX) - 0.10%
  • Lifecycle Index 2050  (TLLIX) - 0.10%
  • Lifecycle Index 2055  (TTIIX) - 0.10%
  • Lifecycle Index 2060  (TVIIX) - 0.10%

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

  • Freedom Index Income: Class W (FFGZX) - 0.10%
  • Freedom Index 2010: Class W (FFWTX) - 0.10%
  • Freedom Index 2015: Class W (FIWFX) - 0.10%
  • Freedom Index 2020: Class W (FIWTX) - 0.10%
  • Freedom Index 2025: Class W (FFEDX) - 0.10%
  • Freedom Index 2030: Class W (FFEGX) - 0.10%
  • Freedom Index 2035: Class W (FFEZX) - 0.10%
  • Freedom Index 2040: Class W (FFIZX) - 0.10%
  • Freedom Index 2045: Class W (FFOLX) - 0.10%
  • Freedom Index 2050: Class W (FFOPX) - 0.10%
  • Freedom Index 2055: Class W (FFLDX) - 0.10%
  • Freedom Index 2060: Class W (FFLEX) - 0.10%