Duke University Faculty and Staff Retirement Plan

Your Investment Options in the Plan

Duke has an Investment Advisory Committee (IAC) whose role is to ensure that you have access to quality investment options at a reasonable cost. The IAC is comprised of key Duke University and Duke University Health System administrators who work closely with expert consultants who specialize in investment advisory services. The IAC has chosen a group of funds to regularly monitor and ensure that they remain appropriate investment options for Duke's plan. Your investment options are grouped in tiers to make it easier to navigate your investments. Funds in Tier 1 and Tier 2 have been specifically chosen 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. Funds available through BrokerageLink® (Tier 3) and frozen annuity accounts are not monitored by the IAC.

Tier 1: Vanguard Target Date Funds for a ready-made portfolio

This tier offers a way to make a single choice for your retirement needs. 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. For more information about the Vanguard Target Retirement Funds, visit Target Date Funds.

Tier 2: Core Funds - Build your own portfolio

This tier includes funds from various asset classes that have been chosen by the IAC based on their suitability for inclusion in a customized retirement portfolio. You can build your own diversified portfolio from these core funds. Contact Fidelity at 800-343-0860 if you need assistance selecting funds.

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. 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. Additional fees may apply for a brokerage account, including transaction fees and brokerage commissions for some transactions. For additional information about BrokerageLink, visit Self-Directed Brokerage Account (BrokerageLink®).

List of Investments available in the Plan

*Expense Ratio as of 9/12/2022

For more information about fees and performance for the investments available in the Plan, please see the Investment Performance and Participant Fee Disclosure Information.

Frozen Annuity Accounts

Certain annuity products at Corebridge Financial (AIG/VALIC) and TIAA are frozen to new contributions effective January 2019. These annuity accounts could not automatically transfer to the new investment lineup due to restrictions in the annuity contract. However, individuals invested in these frozen annuity accounts can transfer their balances at any time, subject to any restrictions described in the annuity contract, and invest those assets in an investment option available under the Plan's current lineup. The IAC neither evaluates nor monitors the frozen annuity account investment options. You should review the fees and historical performance of these annuities and compare them to the investment options available under the current lineup because the cumulative effect of fees and expenses can substantially reduce the growth of your retirement savings. To learn more about the frozen annuities, their performance and fees, and how to transfer balances to Fidelity, please see the Investment Performance and Participant Fee Disclosure Information.

Need Assistance?

Duke is committed to providing you with ongoing support to help you better understand the services, fees, expenses and provisions associated with your Plan. If you have any questions about this information, please contact the Human Resources Information Center at (919) 684-5600 or by email at hr@duke.edu.