Changes to Duke Retirement Plans’ investment line-up with Fidelity Investments - July 2023
Changes to the investment lineup at Fidelity will be made to the Duke Faculty and Staff Retirement Plan, the Duke Commissioned Police Officers Supplemental Retirement Plan, and the Duke 457(b) Deferred Compensation Plan. Effective on or around July 21, 2023, the JP Morgan Large Cap Growth Fund Class R6 will be added to the plans. The Janus Henderson Triton Fund, the Goldman Sachs Small Cap Value Fund Class R6, and the T. Rowe Price Growth Stock Fund I Class will be replaced. Click here for more information.
Vanguard 2070 Target Retirement Fund - December 2022
The Vanguard Target Retirement 2070 Fund will be added to the investment lineup for the Plan, effective on or around December 15, 2022. This fund will be the default investment option for employees born in 2003 or later, who do not actively designate an investment election. Click here for more information.
Vanguard 2015 Fund Merger - July 2022
The Vanguard Target Retirement 2015 Fund will combine with Vanguard Target Retirement Income Fund on or about July 8, 2022, as described in the 2015 fund's prospectus, because the 2015 fund has reached a target asset allocation that matches the Income fund.
Vanguard Announces Fund Merger - February 2022
Vanguard has announced the merger of the Vanguard Institutional Target Retirement Funds into the Vanguard Investor Target Retirement Funds (TRFs). This change will be effective on or around February 11, 2022. Vanguard expects to lower the expense ratio to 0.08% (currently it is 0.09% for the Institutional funds). Please review the following:
- Vanguard notice
- Vanguard's press release
- Fidelity notice and Qualified Default Investment Alternative notice – This notice includes the expense ratio as of 1/31/2021 of the investor share class; however, the expense ratio is expected to be reduced on or around February 11, 2022.