Sounds like a great deal! Incidentally, I believe TIAA-CREF actually started out in the academic field, offering pensions to teachers, then branched out from there. As an academic, Jim has had his 403(b) with them since he got out of grad school, and more recently, they've begun their own line of mutual funds available to the public and offer other finanicial services. It's a really good company that's always highly rated, both for solid returns and low expenses.