Duke University Faculty and Staff Retirement Plan
Important Information about your 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) 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 Date 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
|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 Instl Plus||VBMPX||0.03%|
|Intermediate-Term Bond||Metropolitan West Total Return Bd Plan||MWTSX||0.38%|
|Multisector Bond||PIMCO Income Instl||PIMIX||1.09%|
|Large Value||MFS® Value R6||MEIKX||0.47%|
|Large Value||Vanguard Equity-Income Adm||VEIRX||0.18%|
|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||0.31%|
|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||0.63%|
|Mid-Cap Value||MFS® Mid Cap Value R6||MVCKX||0.68%|
|Mid-Cap Blend||Vanguard Extended Market Index Instl Plus||VEMPX||0.04%|
|Mid-Cap Value||Fidelity® Low-Priced Stock K6||FLKSX||0.50%|
|Mid-Cap Growth||MassMutual Select Mid Cap Growth I||MEFZX||0.71%|
|Foreign Large Blend||Vanguard Total Intl Stock Index I||VTSNX||0.08%|
|Foreign Large Blend||American Funds Europacific Growth R6||RERGX||0.46%|
|Foreign Large Growth||Vanguard International Growth Adm||VWILX||0.32%|
|Foreign Small/Mid Blend||Fidelity® International Small Cap||FISMX||1.19%|
|Small Blend||Goldman Sachs Small Cap Value R6||GSSUX||0.96%|
|Small Value||Fidelity® Small Cap Value||FCPVX||0.66%|
|Small Growth||Janus Henderson Triton N||JGMNX||0.66%|
|Small Growth||Fidelity® Small Cap Growth K6||FOCSX||0.60%|
|Diversified Emerging Mkts||Vanguard Emerging Mkts Stock Idx Instl||VEMIX||0.10%|
|Specialty -Real Estate||Vanguard REIT Index Institutional||VGSNX||0.10%|
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 AIG Retirement Services (VALIC) and TIAA are frozen to new contributions. These annuity accounts did not automatically transfer to the new investment lineup put in place in January 2019. 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 current lineup. 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.
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 Duke HR Benefits Office at (919) 684-5600 or by email at firstname.lastname@example.org.