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Retirement plan core investment menu updates

Michigan State University reviews the investment options available through the 403(b) Retirement Plan and the 457(b) Deferred Compensation Plan accounts to make sure we continue to help MSU employees meet their financial goals and investment objectives. As a result, we have the following update to the core investment menu options that will be effective in July 2017.

Fidelity and TIAA Core Investment Menus

The Vanguard Institutional Target Retirement Date Fund series, which is on both the Fidelity and TIAA core investment menus and is the default investment option for retirement accounts at MSU, will be updated this summer. The following are the highlights:

  • The Vanguard Institutional Target Retirement 2010 Fund has reached a target asset allocation matching the Vanguard Institutional Target Retirement Income Fund, and the two funds will be merging in late July. The 2010 fund will then be closed to new investments and future contributions.
  • Also, Vanguard is introducing the new Vanguard Institutional Target Retirement 2065 Fund to the series in late July. This fund is designed for the individual who will be age 65 around 2065.

Participants of the MSU 403(b) Retirement Plan and the MSU 457(b) Deferred Compensation Plan will receive communications with more detail from their retirement vendor (Fidelity or TIAA) before the effective dates of these changes.