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
|Asset Class||Fund Name||Ticker||Expense Ratio*|
|TIER 1: Target Date Funds|
|Target-Date Retirement||Vanguard Target Retirement Income Fund||VTINX||0.08%|
|Target-Date 2020||Vanguard Target Retirement 2020 Fund||VTWNX||0.08%|
|Target-Date 2025||Vanguard Target Retirement 2025 Fund||VTTVX||0.08%|
|Target-Date 2030||Vanguard Target Retirement 2030 Fund||VTHRX||0.08%|
|Target-Date 2035||Vanguard Target Retirement 2035 Fund||VTTHX||0.08%|
|Target-Date 2040||Vanguard Target Retirement 2040 Fund||VFORX||0.08%|
|Target-Date 2045||Vanguard Target Retirement 2045 Fund||VTIVX||0.08%|
|Target-Date 2050||Vanguard Target Retirement 2050 Fund||VFIFX||0.08%|
|Target-Date 2055||Vanguard Target Retirement 2055 Fund||VFFVX||0.08%|
|Target-Date 2060||Vanguard Target Retirement 2060 Fund||VTTSX||0.08%|
|Target-Date 2065||Vanguard Target Retirement 2065 Fund||VLXVX||0.08%|
|Target-Date 2070||Vanguard Target Retirement 2070 Fund||VSVNX||0.08%|
|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||0.37%|
|Multisector Bond||PIMCO Income Instl||PIMIX||0.62%|
|Large Value||MFS® Value R6||MEIKX||0.44%|
|Large Value||Vanguard Equity-Income Adm||VEIRX||0.19%|
|Large Blend||Vanguard Institutional Index Instl Plus||VIIIX||0.02%|
|Large Blend||Vanguard FTSE Social Index Instl||VFTNX||0.12%|
|Large Blend||Vanguard PRIMECAP Adm||VPMAX||0.31%|
|Large Growth||Fidelity® Contrafund® K6||FLCNX||0.45%|
|Large Growth||JP Morgan Large Cap Growth Fund Class R6||JLGMX||0.51%|
|Mid-Cap Value||American Century Mid Cap Value R6||AMDVX||0.63%|
|Mid-Cap Value||MFS® Mid Cap Value R6||MVCKX||0.63%|
|Mid-Cap Value||Fidelity® Low-Priced Stock K6||FLKSX||0.50%|
|Mid-Cap Blend||Vanguard Extended Market Index Instl Plus||VEMPX||0.04%|
|Mid-Cap Growth||MassMutual Mid Cap Growth I||MEFZX||0.66%|
|Foreign Large Blend||Vanguard Total Intl Stock Index Instl||VTSNX||0.08%|
|Foreign Large Blend||American Funds Europacific Growth R6||RERGX||0.47%|
|Foreign Large Growth||Vanguard International Growth Adm||VWILX||0.34%|
|Foreign Small/Mid Blend||Fidelity® International Small Cap||FISMX||1.02%|
|Small Value||Fidelity® Small Cap Value||FCPVX||0.99%|
|Small Growth||Fidelity® Small Cap Growth K6||FOCSX||0.60%|
|Diversified Emerging Markets||Vanguard Emerging Mkts Stock Idx Instl||VEMIX||0.10%|
|Specialty -Real Estate||Vanguard REIT Index Institutional||VGSNX||0.10%|
*Expense Ratio as of 12/31/2022
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.
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 email@example.com.