It is specifically determined by dividing the number of shares into the market value of the entire portfolio. Fidelity does however, charge an annual fee, which is assessed in December. There are five major types of mutual funds, each with different investment objectives. A summary of these fund categories is presented below. Types of mutual funds Allocating Fidelity funds Fidelity Investments requires that participants complete a new application even if the individual has contributed to Fidelity while at another employer.
Fidelity distributes quarterly statements of fund deposits and current balances to all participants.
Summary TIAA and CREF are companion organizations that provide investment opportunities to employees of academic institutions and certain other tax- exempt educational and research organizations. TIAA-CREF provides participants with quarterly and annual statements of account transactions and fund balances. TIAA provides annuities and other services. An annuity provides for the withdrawal of accumulated retirement plan funds in fixed payment amounts for an individual's lifetime or for a specified number of years. Employee and the University contributions which are allocated to TIAA purchase a contractual, or guaranteed, amount of future retirement income to participants.