If you take no action to transfer balances by December 2018 then your balances will be transferred to funds in the new investment lineup according to the investment option mapping strategy. There are three scenarios that will occur during Duke’s mapping to the new investment lineup on the Fidelity platform:
- Mapping to the Same Fund – If the same fund that is currently offered at Fidelity, TIAA, VALIC or Vanguard is available in the new investment lineup at Fidelity then account balances will be transferred in-kind to the same fund on the Fidelity platform. Opening a self-directed brokerage account is not necessary for this mapping scenario.
- Mapping to a Similar Fund - If the same fund is not available but a similar or comparable fund is available, the fund will be mapped to the comparable fund in the new investment lineup at Fidelity.
- Mapping to a Default Fund – If the same or similar fund is not available, then the fund balance will be mapped to the appropriate age-based Vanguard Target Retirement Date Fund at Fidelity (based on the year the employee turns age 65).
- Funds that are not available in the new investment lineup may be available in the self-directed brokerage account. To arrange a transfer to the self-directed brokerage account please contact Fidelity at 800-823-0172.
- To ensure that all information is transferred accurately for your 403(b) Plan, there will be a period of time in January 2019 when you will be unable to direct or change investments in your individual account, obtain a loan or obtain a new distribution, if eligible, from the Plan. This time during which you will be unable to exercise your rights in the Plan is called a “blackout period”. A typical blackout period is 7-14 business days. Additional information will be provided close to the transition of assets to Fidelity.