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Annual retirement plan participant fee disclosure to be distributed Oct. 12

Oct. 12, 2016, 8:00 AM

(iStockphoto)
(iStockphoto)

On Oct. 12, Fidelity began sending the government-required retirement plan participant fee disclosure to employees who are eligible to participate in the Vanderbilt University 403(b) Retirement Plan. Even if you don’t participate in the plan, but are eligible, you will receive a notice. Former employees with accounts also will receive the notice, unless their balances were transferred to the Vanderbilt University Medical Center 403(b) Retirement Plan at the time of VUMC’s legal separation from VU.

You do not need to take any action. The disclosure is for your information only.

Depending on which investment company holds your assets, you may receive one or two disclosures:

  • Participants who only have balances with Vanderbilt’s current administrative services provider, Fidelity Investments, will receive one notice containing information on current investment options. A link to this notice will be emailed to participants who have valid addresses on file, or mailed to participants who don’t have valid addresses on file.
  • Participants who have balances with Fidelity and VALIC or TIAA will receive both the Fidelity-only notice as well as a separate notice that contains information on investment options with all three providers. A link to the Fidelity-only notice will be emailed to participants who have valid addresses on file, or mailed to participants who don’t have valid addresses on file. The combined notice that contains Fidelity, VALIC and TIAA information will only be mailed.

The documents also will be posted on the HR website and on Fidelity NetBenefits®.

Even though the communication is from Fidelity, the disclosure includes information about all investment companies and funds in the Vanderbilt Retirement Plan, including TIAA-CREF and VALIC. You will receive the entire document, including funds you may not be invested in.

The disclosure includes the following plan-related information:

  • general information,
  • administrative expenses,
  • individual expenses, and
  • investment information.

The disclosure is intended to help you make informed investment decisions by providing a complete and accurate picture of your plan’s investment options, fees and expenses. You do not need to take any action, but you can use the document as a resource for managing your account.

For additional information, visit NetBenefits or the HR fee disclosure page.

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