WFU Transitioning Retirement Plan Recordkeeper to Fidelity
Following an evaluation of the University’s retirement plan administration, we are excited to announce that the University is transitioning its retirement plan recordkeeper from TIAA to Fidelity, effective January 2027.
The 403(b) Retirement Plan offers multiple ways to plan for your financial future. You have access to a menu of investments, consisting of best-in-class mutual funds and annuity options. Additionally, a self-directed brokerage account provides access to thousands of mutual funds not included in this investment menu.
If you are looking for information about retiring from the University, please visit Prospective Retirees.
Retirement Plan Recordkeeper
- TIAA
- Fidelity, effective January 2027, read more at this link.
University Contributions
- 5% of eligible compensation, if greater than two, but less than or equal to five years of service.
- 7.5% of regular salary, if greater than five, but less than or equal to 10 years of service.
- 10% of regular salary, if greater than 10 years of service.
Your Contributions
Set aside money on a pre- or post-tax (Roth) basis immediately upon employment.
CAPTRUST
For personalized advice on retirement planning, budgeting, or managing debt, Wake Forest faculty and staff are encouraged to meet with CAPTRUST, the University’s independent fiduciary advisor. As the fiduciary, CAPTRUST’s focus is entirely on providing unbiased guidance that puts your best interests first. Whether you have questions about your investment strategy or college savings, their financial experts are available to help you optimize your benefits.
Consultations can be held virtually or in person:
- Virtual Option: To schedule a virtual appointment with a CAPTRUST Financial Advisor, call 800.967.9948 or visit CAPTRUST at Work.
- In-person Option: You can schedule an in-person appointment with CAPTRUST’s Senior Financial Advisor, Matt Leggett. Matt is also available for virtual appointments.
Plus, there are a number of resources available on the CAPTRUST website:
- Helpful articles on a range of topics
- Financial calculators to help you check your progress
- Short, informative videos from CAPTRUST subject matter experts
- Registration links for upcoming webinars
- Recordings of prior webinars
Resources
Enrolling or Making Changes
Upon your employment, you are automatically enrolled in the Wake Forest University 403(b) Retirement Plan, enabling you to contribute on a pre-tax basis. You will be enrolled with a default contribution amount of 5 percent of your eligible compensation, and you will receive information about how your contributions are invested from the University’s Retirement Service Administrator. Please note that adjunct faculty are excluded from the auto-enrollment process but may enroll in the Plan at any time.
New Hires between March 1, 2026, and Nov. 18, 2026, should contact TIAA at 800.842.2252 to opt out of Auto Enrollment. No contributions are made if you opt out within 30 days of your hire date or within 30 days of when onboarding tasks are complete in Workday. If you opt out after 30 days, the update applies to the next payroll and any existing contributions remain in your Retirement Plan account.
To enroll at a later date or make changes to your Retirement Plan Account:
- If you have questions about enrolling, changing your salary deferrals, updating your beneficiaries, or how you are investing your funds, contact CAPTRUST at 800.967.9948. They will work directly with you and TIAA.
- If you have questions about prior service credit criteria, contact the WFU-HR Benefits team at benefits@wfu.edu.
- You may change contributions in each pay cycle by visiting the TIAA website, selecting Manage My Contributions, and following the instructions on your screen. Refer to the Payroll Deferral Deadlines in the Resources section of this page for more information.
Roth In-Plan Conversion (RIPC)
An RIPC option is now available to faculty and staff in the 403(b) WFU Retirement Plan. This option allows a plan participant to convert their eligible pre-tax voluntary contributions and earnings to a designated Roth source. The amount converted is treated as taxable income in the year of the conversion. To learn more, download this flyer from TIAA and/or the Summary of Material Modification (2025).
2026 Benefits Guidebook
The 2026 Benefits Guidebook for Faculty and Staff outlines benefits specific to the Jan. 1 through Dec. 31, 2026, plan year. The information included in the guidebook is intended as a benefit summary only.
Wake Forest University Human Resources
2598 Reynolda Rd, Winston-Salem, NC 27106 | P.O. Box 7424
AskHR@wfu.edu | P (336) 758-4700 | F (336) 758-6127
Se habla español.