For more stories like this, sign up for the PLANSPONSOR NEWSDash daily newsletter.
Products December 30, 2011
University of Delaware Announces Investment Option Changes
December 30, 2011 (PLANSPONSOR.com) – The University of Delaware has partnered with Fidelity Investments to offer 403(b) and 457 plan investment options with lower overall fund expenses.
Reported by
Rebecca Moore
The University introduced a new share class called Fidelity Class K Shares and a new series of Fidelity target-date retirement mutual funds called Fidelity Freedom K Funds. The Class K Shares offer the same investment strategy and risk as the current, share class, but the overall expenses will be lower.
Fidelity Freedom K Funds have the same management team, investment objectives and will invest in the same underlying funds as the Fidelity Freedom Funds, but since they are designed as Fidelity’s institutional target-date series of mutual funds, Fidelity Freedom K Funds have lower expense ratios than the corresponding target-date Fidelity Freedom Funds.
The investment option changes will be effective as of market close on January 11, 2012.You Might Also Like:
TIAA Retirement Solutions CEO Steps Down
Kourtney Gibson left the company on September 30, and her successor has yet to be named.
ERISA 403(b) Employer Contributions More Than Doubled From 2009 to 2023
Plan costs declined by 23 basis points over the same period.
Senate Asked by IRI to Pass 403(b) Investments Bill
The Retirement Fairness for Charities and Educational Institutions Act would give 403(b) participants access to investments in collective investment trusts....
