Brandeis retirement plan transition underway

Faculty and staff encouraged to review their portfolios

All Brandeis faculty and staff should be aware of important changes to the Brandeis University Retirement Plan. While the employer contributions and vesting schedule are not changing, the university is offering a streamlined and simplified investment lineup, designed to offer employees choice, simplicity and value.

A detailed Fund Change Transition Guide was sent to all participants’ homes in April. The guide provides complete details about these changes, including a comprehensive fund mapping guide to show where retirement money will be moved if employees don’t take action by the deadline. 

Misplaced the Guide? Don’t worry – it’s available online

In the meantime, here’s is a brief recap of the three new investment tiers:

  • Tier 1: Lifecycle Funds (through Fidelity Investments). Also referred to as Target Date Funds, Lifecycle Funds are designed to meet the needs of many types of investors—especially those who would rather spend their spare time doing things other than managing their investments. 
  • Tier 2: Core Funds (through Fidelity Investments). These 17 investment fund options are designed for people who want to take a more hands-on approach and select their own investment mix from a choice of individual investment options.
  • Tier 3: Annuities (through TIAA-CREF). These annuity options can be a valuable component of a well-diversified retirement portfolio, both before and during retirement. Unlike mutual funds, an annuity offers the opportunity to receive the assurance of lifetime income in retirement.

All employees should decide which investment approach is best for their personal situations. 

The new fund options were available beginning April 24. On June 3, all existing funds that are no longer part of the new lineup will be closed to new money. If an employee does not make an active election to choose alternative investment options, all future contributions will be redirected. In most cases, future contributions will be directed into a Lifecycle Fund based on your current age.

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