Starting May 21, 2018, you will be able to select investments in the new investment lineup at Fidelity. For descriptions of the funds in the new investment lineup, click here
Duke’s Investment Advisory Committee (IAC) selected the new investment lineup. The role of the Investment Advisory Committee is to ensure that you have access to quality investment options at the lowest reasonable cost. The IAC is comprised of key Duke University and Duke University Health System administrators and faculty who work closely with expert consultants who specialize in investment management. The IAC has chosen a group of funds they will continue to regularly monitor to ensure that they remain appropriate investment options for Duke’s plan.
To make the new investment lineup easier to navigate, investments continue to be grouped into three tiers. Funds in Tier 1 and Tier 2 have been specifically selected by the IAC for the Faculty and Staff Retirement Plan based on their suitability for use in a diversified retirement savings portfolio and their competitive expense level. These funds are benchmarked annually to ensure that their performance and cost remain competitive. Funds in Tier 1 and 2 are monitored regularly by the IAC. Tier 3 offers a self-directed brokerage account for investors who wish to use funds that are outside of the monitored options. Investments you select through the Tier 3 brokerage account are not monitored by the IAC.
Tier 1: Target Date Funds for a ready-made portfolio
The Vanguard Retirement Target Date fund series is currently offered across all retirement service providers. The Vanguard Retirement Target Date fund series will continue to be the plan’s Tier 1 funds at Fidelity. These funds are designed for investors expecting to retire around the year indicated in each fund’s name. A Target Date Fund is invested in a portfolio of mutual funds that automatically becomes more conservative as the fund approaches its target retirement date and beyond. Principal invested is not guaranteed. These funds are chosen and monitored by the IAC.
Tier 2: Core Funds - Build your own portfolio
Duke’s IAC, with the assistance of an investment advisory firm, carefully selected the core investment options, which include some existing funds as well as new funds, that reflect all major asset classes and includes short-term investments, bonds, and stocks. Each fund offered is priced at the lowest share class available for the particular fund. The new investment lineup allows you to customize and build a portfolio your way. These funds are chosen and monitored by the IAC.
The TIAA Traditional Annuity will continue to be available for future contributions in January 2019 on TIAA’s platform.
Tier 3: Self-Directed Brokerage Account (BrokerageLink®)
Fidelity BrokerageLink®, , a self-directed brokerage account, gives you access to additional mutual funds for your retirement savings beyond the target date funds and core funds available in Tiers 1 and 2. BrokerageLink® combines the convenience of your workplace retirement plan with the additional flexibility of a brokerage account. Note, though, that the IAC neither evaluates nor monitors the mutual funds available through BrokerageLink®. It is your responsibility to ensure the investments you select are suitable for your situation, including your goals, time horizon, and risk tolerance. Click here to learn more about BrokerageLink.
The investments available through BrokerageLink® are not monitored by the Duke Investment Advisory Committee. It is your responsibility to ensure the investments you select are suitable for your situation, including your goals, time horizon, and risk tolerance.
Additional fees may apply for a brokerage account, including transaction fees and brokerage commissions for some transactions.
|Asset Class||Fund Name||Ticker||Expense Ratio|
|TIER 1: Target Date Funds|
|Target-Date Retirement||Vanguard Instl Trgt Retire Inc Instl||VITRX||0.09%|
|Target-Date 2015||Vanguard Instl Trgt Retire 2015 Instl||VITVX||0.09%|
|Target-Date 2020||Vanguard Instl Trgt Retire 2020 Instl||VITWX||0.09%|
|Target-Date 2025||Vanguard Instl Trgt Retire 2025 Instl||VRIVX||0.09%|
|Target-Date 2030||Vanguard Instl Trgt Retire 2030 Instl||VTTWX||0.09%|
|Target-Date 2035||Vanguard Instl Trgt Retire 2035 Instl||VITFX||0.09%|
|Target-Date 2040||Vanguard Instl Trgt Retire 2040 Instl||VIRSX||0.09%|
|Target-Date 2045||Vanguard Instl Trgt Retire 2045 Instl||VITLX||0.09%|
|Target-Date 2050||Vanguard Instl Trgt Retire 2050 Instl||VTRLX||0.09%|
|Target-Date 2055||Vanguard Instl Trgt Retire 2055 Instl||VIVLX||0.09%|
|Target-Date 2060||Vanguard Instl Trgt Retire 2060 Instl||VILVX||0.09%|
|Target-Date 2065||Vanguard Instl Trgt Retire 2065 Instl||VSXFX||0.09%|
|TIER 2: Core Funds|
|Money Market||Vanguard Federal Money Market Investor||VMFXX||0.11%|
|Stable Value||VALIC Fixed Interest Option||N/A||N/A|
|Stable Value||TIAA Traditional Fixed Account*||N/A||N/A|
|Intermediate-Term Bond||Vanguard Total Bond Market Index I||VBTIX||0.04%|
|Intermediate-Term Bond||Metropolitan West Total Return Bd Plan||MWTSX||0.38%|
|Multisector Bond||PIMCO Income Instl||PIMIX||0.50%|
|Large Value||MFS® Value R6||MEIKX||0.51%|
|Large Value||Vanguard Equity-Income Adm||VEIRX||0.17%|
|Large Blend||Vanguard Institutional Index Instl Pl||VIIIX||0.02%|
|Large Blend||Vanguard FTSE Social Index Instl||VFTNX||0.12%|
|Large Growth||Vanguard PRIMECAP Adm||VPMAX||0.33%|
|Large Growth||Fidelity® Contrafund® K6||FLCNX||0.45%|
|Large Growth||T. Rowe Price Growth Stock I||PRUFX||0.52%|
|Mid-Cap Value||American Century Mid Cap Value R6||AMDVX||0.61%|
|Mid-Cap Value||MFS® Mid Cap Value R6||MVCKX||0.75%|
|Mid-Cap Blend||Vanguard Extended Market Index Instl Plus||VEMPX||0.05%|
|Mid-Cap Blend||Fidelity® Low-Priced Stock K6||FLKSX||0.50%|
|Mid-Cap Growth||MassMutual Select Mid Cap Growth I||MEFZX||0.73%|
|Foreign Large Blend||Vanguard Total Intl Stock Index I||VTSNX||0.09%|
|Foreign Large Blend||American Funds Europacific Growth R6||RERGX||0.50%|
|Foreign Large Growth||Vanguard International Growth Adm||VWILX||0.33%|
|Foreign Small/Mid Blend||Fidelity® International Small Cap||FISMX||1.34%|
|Small Value||Goldman Sachs Small Cap Value R6||GSSUX||0.95%|
|Small Value||Fidelity® Small Cap Value||FCPVX||0.99%|
|Small Growth||Janus Henderson Triton N||JGMNX||0.68%|
|Small Growth||Fidelity® Small Cap Growth K6||FOCSX||0.60%|
|Diversified Emerging Mkts||Vanguard Emerging Mkts Stock Idx Instl||VEMIX||0.11%|
|Real Estate||Vanguard REIT Index Institutional||VGSNX||0.10%|
*TIAA Traditional Fixed Account will continue to be available through TIAA. A new TIAA Traditional Fixed Annuity contract will be added in January 2019.