Note: Be sure to check out the HR/Payroll project!
Human Resources Management is pleased to announce a number of enhancements to the Northeastern Retirement Plan effective January 2, 2007. These enhancements include:
- A Core Line-up of Funds from Fidelity and TIAA-CREF
- Expansion of the fund offerings for the Basic and Supplemental Retirement Plans to include all Fidelity and TIAA-CREF funds.
Northeastern’s fund offerings with Fidelity and TIAA-CREF have been strengthened and will now be referred to as our Core Line-up of Funds. This Core Line-up of Funds includes 21 TIAA-CREF Funds and 20 Fidelity funds to ensure that faculty and staff have a diversified group of funds representing appropriate asset classes. The funds have demonstrated favorable performance and low fees and will continue to be monitored by the Northeastern University Investment Committee.
As part of our review, we have replaced the Fidelity Retirement Money Market fund with the Fidelity Institutional Money Market fund. The new Institutional Money Market fund has a lower expense ratio and is currently offering a higher yield. Participants who have a balance in the current Retirement Money Market fund will have their account balances automatically transferred to the new fund as of January 2, 2007.
Expanded Fund Offerings
In addition to the new Core Line-up of Funds, we have expanded the fund offerings to include all the Fidelity and TIAA-CREF funds. These expanded fund offerings are available to participants who want to choose from a substantially larger selection of funds and who are comfortable managing their own portfolio and understand how to research, evaluate and monitor a wide variety of investments with different risk and return characteristics. Participants may choose from any of the Fidelity or TIAA-CREF funds for their Basic Retirement Plan or the Supplemental Retirement Plan.
Information Sessions Planned for January
Information Sessions will be held during January to fully introduce the plan enhancements and the fund offerings. HRM/Benefits staff and representatives from Fidelity and TIAA-CREF will host the following information sessions:
1) Tuesday,
January 16th – 333 Curry Student Ctr., 12-1pm
2) Monday, January 29th – 333 Curry Student Ctr., 12-1pm
Please call the HRM/Benefits hotline at extension 4311 to register for a session or if you have any questions.
In early
January you will receive a complete packet with details about all the
fund offerings as well as information about expanded investment services
which will be introduced. Packets will be distributed through campus mail.
We are delighted to implement these plan enhancements and new fund offerings and urge you to attend one of the upcoming sessions to become familiar with your new choices.