Retirement investment advisory committee

The Michigan State University Board of Trustees approved the creation of the Retirement Investment Advisory Committee (RIAC), which began in 2007, to review the retirement investments and vendors that were available in the MSU retirement plans. RIAC is an advisory committee that reviews investment issues specific to the retirement plans offered by MSU, is supported by MSU Human Resources (HR) and makes recommendations to the Vice President of Finance and Treasurer (VPFT). RIAC's recommendations are non-binding, and the Committee has no authority to make any changes on its own. The VPFT 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 for a number of variables, including performance, fees, management and others in a Watch List process. RIAC reviews the recommendations by the investment consultant, and if changes are warranted, makes a change recommendation to the VPFT. If the recommendation is accepted by the VPFT, HR will implement the approved changes.

For questions about RIAC, please email Human Resources at SolutionsCenter@hr.msu.edu or call 517-343-4434 (toll-free 800-353-4434). 

Plan Changes made in 2012

  • 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 MSU administration approved the recommendation and directed HR to implement the changes effective January 2012.  More detail about the changes can be found at MSU Retirement Plan Consolidation.