REtirement Plan Core Investment Menu Update

Michigan State University reviews the investment options available through the 403(b) Retirement Plan and the 457(b) Deferred Compensation Plan accounts regularly. As a result, the following updates to the core investment menu options will be effective in September 2020:

Fidelity Core Investment Menu

To include lower cost investment funds and to reduce the redundant investment options, the following are the upcoming changes in the Fidelity core investment menu for current contributions:

• The Vanguard Institutional Index Fund – Institutional Shares fund will be replaced by the lower cost share class Vanguard Institutional Index Fund – Institutional Plus Shares fund.
• The Loomis Sayles High Income Fund will be removed, and the account balance and investment election will transfer to the currently offered PIMCO Total Return Fund – Institutional Class fund.
• The Fidelity Low-Priced Stock Fund will be replaced by the Boston Trust SMID Cap Fund.
• The Fidelity Diversified International Fund will be replaced by the American Funds EuroPacific Growth Fund.

If you currently have an account at Fidelity, you will receive a communication in August from Fidelity with more detail about these changes that will take place in September.

TIAA Core Investment Menu

To include lower cost investment funds and to reduce the redundant investment options, the following are the upcoming changes in the TIAA core investment menu for current contributions:

• The Vanguard Institutional Index Fund – Institutional Shares fund will be replaced by the lower cost share class Vanguard Institutional Index Fund – Institutional Plus Shares fund.
• The Vanguard Federal Money Market Investor fund will be added as a complementary money market fund option to the current CREF Money Market Annuity account.
• The Loomis Sayles High Income Fund will be removed, and the account balance and investment election will transfer to the currently offered PIMCO Total Return Fund – Institutional Class fund.
• The Dodge & Cox Global Stock fund will be replaced by the American Funds New Perspective fund.

If you currently have an account at TIAA, you will receive a communication in August from TIAA with more detail about these changes that will take place in September.