Self-Managed Plan FAQ

How do I change Providers for the SMP plan?
What fees does SURS charge for being the SMP service agent?
How do I move balances within my SURS account?
Why must I use a form for some changes and not for others?
What is the process and usual time frame for my money to be sent from my employer to the Provider?
Is the employer match retroactive if I make my SMP election within the allotted time period?
Why is the fund selection limited?
What are the ticker symbols for the SMP investment options?
When do I get a statement?
How can I get copies of investment returns and expense ratios?
What information is available on the websites?
How do I access my account information once I get to the website if I have not received or have lost my PIN or password?
Could you explain the information in the SMP Performance section of the website?

How do I change Providers for the SMP plan?
First, you must decide if you are moving money from the existing account, changing future allocations, or both.

Monies from an existing account in the SMP are moved to another Provider by completing either a Fidelity to TIAA-CREF or TIAA-CREF to Fidelity Transfer Form, which is only available from SURS. The form is completed with the desired changes and forwarded to the FROM Provider (the Provider you are transferring money from).

Future Provider allocations (the percentage of money sent to each Provider) can be changed either on the SURS website or by calling and speaking to a SURS Benefits Counselor.

In the event you wish to do both, call SURS to change the future allocation and request a Provider-to-Provider Transfer Form.

What fees does SURS charge for being the SMP service agent?
SURS does not charge SMP participants fees for administering the Plan. SURS administrative expenses are paid by the State. The only fees paid by SMP participants are the expense charges for the investment options. The expense ratio of each investment option is listed on the quarterly performance sheet mailed with the Unified Statement.

How do I move balances within my SURS account?
Changes to the percentage you allocate to each Provider can be made by calling 800-ASK-SURS or via the Member Website. Changes to accumulated balances between Providers requires a Provider-to-Provider Transfer Form, which you can get by calling 800-ASK-SURS. Changes to fund allocations AND accumulated balances within a Provider may be done by contacting that Provider.

Why must I use a form for some changes and not for others?
The Providers are separate businesses and do not have integrated systems. A paper form is required to move funds from one Provider to another because a signed form is required to "withdraw" funds from a Provider. The paper form is also the means by which the Providers communicate.

Establishing an asset allocation with each Provider via telephone or website only indicates how future contributions will be divided among the investment choices. It does not move the current accumulations. Moving the current accumulations does not change how future contributions will be allocated.

What is the process and usual time frame for my money to be sent from my employer to the Provider?

1. A payroll tape with detailed payroll information for each employee,
2. A hardcopy printout of the payroll information, and
3. Money to post to your account.

After SURS receives all three components of the payroll and they are in agreement, the payroll can be reconciled. SURS wires the money to member accounts in two working days.

Delays may result if different pieces of payroll information are received on different dates. In an attempt to speed up the process, SURS recently sent a request to have employers electronically transfer the payroll money rather than send checks through the mail. This could reduce transfer time for some schools by as much as a week.

Is the employer match retroactive if I make my SMP election within the allotted time period?
No, the employer match is not retroactive. When the initial SMP balance transfer is sent, all prior employer match money is forfeited. The balance transfer consists only of employee contributions and interest.

Why is the fund selection limited?
Funds were selected for the SMP using the philosophy that they should be appropriate for an individual's primary retirement account. This philosophy will tend to exclude funds that generate highly volatile returns (i.e., precious metal funds) or those that have very low rates of return (i.e., money market funds). The intent is to offer funds that have moderate rates of return and volatility levels.

What are the ticker symbols for the SMP investment options?
Ticker symbols for each mutual fund are given below. Note that TIAA-CREF´s variable annuity investment options do not have ticker symbols.

When do I get a statement?
Statements are mailed quarterly. You should receive a statement from each of the investment Providers you have selected and a unified statement from SURS that combines all of your information. If you would like more current account information, please contact your Service Provider.

How can I get copies of investment returns and expense ratios?
Fund returns are provided quarterly in the unified statement mailing sent by SURS and on the SURS website. For more frequent information, returns are available on each Provider´s website.

What information is available on the websites?
SURS has a Member Website that allows you to view information specific to your account. You can see your current asset allocations, Unified Statements, and beneficiaries. SURS is always updating and adding information.

Additionally, each of the Providers has informative brochures available that explain their websites. The information available at each Provider´s website is slightly different. Some common information available on each website includes fund performance and account information. Click here for Provider contact information.

How do I access my account information once I get to the website if I have not received or have lost my PIN or password?
If you have never received or have lost your PIN or password, simply call SURS at 800-ASK-SURS.

Could you explain the information in the SMP Performance section of the website?
Click here for information relating to benchmarks and their interpretation.