Retirement investment advisory committee
In 2007, the Michigan State University Board of Trustees approved the creation of the Retirement Investment Advisory Committee (RIAC), to review retirement investments and vendors available in the MSU retirement plans. RIAC is supported by MSU Human Resources and makes recommendations to the Senior Vice President, CFO and Treasurer. RIAC's recommendations are non-binding, and the committee has no authority to make any changes on its own. The Senior Vice President decides to accept or decline RIAC's recommendations, and is the Named Fiduciary to the MSU retirement plans.
RIAC meets on a quarterly basis to review the new core investment menu offered in the MSU retirement plans. The committee monitors the investments related to performance, fees, management, etc. RIAC reviews recommendations from a investment consultant, and if changes are warranted, makes recommendations to the Senior Vice President. If accepted, MSU HR will implement the changes.
For questions about RIAC, contact MSU HR at SolutionsCenter@hr.msu.edu or 517-343-4434 (toll-free 800-353-4434).
2012 Plan Changes
After a comprehensive review with the assistance of an independent investment consultant, RIAC recommended to consolidate MSU’s six retirement vendors to two and streamline the 550+ investment options down to a new core menu of about 20 investments. The recommendation was reviewed with a number of faculty and support staff committees, and then with the entire campus community in April 2011. With the feedback from the review process, the recommendation was approved and implemented effective January 2012. Learn more about these changes.