Wake Forest transitioning to new retirement plan recordkeeper

This messages is shared on behalf of Mary Lucal, Vice President and Chief Human Resource Officer

Dear Faculty, Staff, and Retirees,

Wake Forest is committed to providing you with the tools and resources necessary for a secure retirement. Following an evaluation of our retirement plan administration, we are excited to announce that the University is transitioning its retirement plan recordkeeper from TIAA to Fidelity, effective January 2027. While this update introduces a new service provider, it is important to note that Wake Forest is not changing the amount of its contribution to your retirement.

The decision to move to Fidelity for recordkeeping services followed a comprehensive review in 2025 by the Retirement Plan Committee, which is made up of faculty and staff representatives and supported by WFU’s independent advisor, CAPTRUST. The evaluation confirmed that Fidelity offers rigorous data protection, lower administrative costs, and a commitment to excellent customer service. Fidelity also consistently leads the industry in client satisfaction, providing state-of-the-art technology and engagement tools for a superior user experience. This led to a clear consensus among Committee members. “After a comprehensive and disciplined evaluation, we voted unanimously for Fidelity, who surpassed the other vendors, including the incumbent,” says Michelle Steward, Committee member and Associate Professor, School of Business. 

Stephanie Carter-Atkins, Executive Director, Residence Life and Housing, adds, “I was struck by how intuitive Fidelity’s website and app felt. The ease of navigation and the clarity around where my money is invested far exceeded my previous experiences.”

We recognize that your retirement savings are a top priority, and that this change is an important one. In April, the Office of Human Resources will share additional communications, including a dedicated webpage, FAQs, and a place to submit your questions. Later in the year we will introduce a transition guide and offer a schedule of information sessions — both in-person and virtual, group and one-to-one — to support you through this change. No immediate action is required on your part.

Providing these resources honors the faculty, staff, and retirees who contribute so much to the University’s mission. We are committed to supporting you through this important transition.

Sincerely,

Mary Lucal
Vice President and CHRO