There are some new changes for employees of the University of Wisconsin system, which involve some recent changes to the 403 (B) program. In short, the number of providers for the plan have gone from 5 vendors (or providers) down to 2. Those two are Fidelity and TIAA. So, effective January 1st 2022, you will now have only 2 choices for your 403(B).
What that means for you depends on a number of factors, and your individual circumstance. The nice part about this is you still have choices. Unlike a traditional 401k plan where you only have one 401k vendor and can only choose from those funds available, with the UW 403B program, you have two vendors and a wide variety of funds and options for your investment. You will see target date funds, or options with Vanguard and a host of other companies, which will give employees a wide range of options. There are additional considerations you may need to look at but should be reviewed on a individual basis.
If you are interested in learning more about these and other changes and what impact it may have on you, feel free to reach out to me or to your own Financial Advisor.