Nov. 30, 2018 – Last day to request plan-to-plan transfer paperwork. Contact Fidelity at 800-823-0172 to initiate a plan-to-plan transfer.
Dec. 27, 2018 – Last day to redirect future contributions to Fidelity through Retirement Manager at hr.duke.edu/retirementmanager.
Dec. 28, 2018 – Last day to return all paperwork to VALIC for a new loan or withdrawal.
Jan. 7, 2019 – Blackout period begins at 4 p.m. Eastern time for mutual funds transferring from VALIC to Fidelity.
Week of Jan. 14, 2019 – All mutual fund balances at VALIC will begin to transfer to the new investment lineup at Fidelity. Annuity balances will remain at VALIC.
Week of Jan. 27, 2019 – Blackout period ends for mutual funds transferred from VALIC to Fidelity.
If you have an account with VALIC, this is how the transition affects future contributions and account balances.
You must select investments for future contributions from the new investment lineup at Fidelity at fidelity.com/duke.
Future contributions will be directed to your chosen investments in the new investment lineup at Fidelity effective with your January 18, 2019, paycheck (biweekly payroll) or your January 25, 2019, paycheck (monthly payroll).
If you do not make an investment election in the new investment lineup at Fidelity by January 14, 2019, your contributions will be directed to a Vanguard Institutional Target Retirement Fund based on your age.
Starting on January 14, 2019, all mutual fund balances at VALIC will transfer to the new investment lineup at Fidelity, according to the Retirement Redesign Mapping Strategy Guide.
If you do not want your VALIC mutual fund balances to transfer according to the Retirement Redesign Mapping Strategy Guide, you can directly transfer your balances to Fidelity by November 30, 2018. Contact Fidelity at 800-823-0172 to initiate a plan-to-plan transfer. Paperwork must be received by VALIC, in good order, prior to 4 p.m. Eastern time on December 28, 2018, in order to be processed before the blackout period begins.
VALIC annuity account balances will not transfer to Fidelity unless you initiate a transfer request. Contact VALIC to discuss any questions you have about the annuity products. Remember that some annuity products may have penalties or restrictions on transfers.
Note: Annuity and mutual fund options held at VALIC are not eligible for the optional one-time transfer in-kind to BrokerageLink®.
Loans and Hardship Withdrawals
Starting in January 2019, all new loans and hardship withdrawals will be processed through Fidelity. Effective December 28, 2018, there will be no additional loans or hardship withdrawals allowed from your VALIC accounts. In order to process a loan or hardship withdrawal before this deadline, the paperwork must be received, in good order, prior to 4 p.m. Eastern time on December 28, 2018.
Currently, two loan programs are offered through VALIC:
- Outstanding loans through the mutual fund platform at VALIC will transfer to Fidelity the week of January 14, 2019. The transition will not affect the original interest commitment and loan period (e.g., 3 or 5 years) for any loan(s) transferring. The payment frequency will be monthly. A separate loan notification will be provided to VALIC participants in late January with information regarding where to send your loan repayments.
- Outstanding loans through the annuity platform at VALIC will not transfer to Fidelity. You will continue to make loans payments directly to VALIC.