August 25, 2016

New fund available in retirement plan

In last week’s MyVUMC, we profiled the Retirement Plan Oversight Committee, which is the group that keeps watch over the Vanderbilt University Medical Center 403(b) Retirement Plan. That committee periodically reviews the retirement plan to make sure it continues to help you meet your retirement and financial goals.

After a recent review, the committee has decided to replace the Delaware SMID Cap Growth Fund Institutional Class with the Jackson Square SMID-Cap Growth Fund Institutional Class as the small/mid-cap investment option in its retirement plans. This investment option will be accessible to you starting Sept. 30.

“We are committed to making sure our retirement program stays on top of updates in the financial markets,” said Traci K. Nordberg, chief human resources officer. “This new option continues to offer you the ability to invest in best-in-class mutual funds from a number of investment companies.”

The committee took this action after being informed by AonHewitt, the committee’s outside advisor, the fund management team of Delaware SMID Cap Growth Fund Institutional Class would no longer be managing this investment and would be starting the Jackson Square SMID-Cap Growth Fund Institutional Class. In addition, the investment strategy of Delaware SMID Cap Growth Fund Institutional Class was changing.

Starting next week, you will receive either an email or letter from Fidelity outlining the new investment option and the timing of the switch.

No action required

If you currently participate in the Delaware SMID Cap Growth Fund Institutional Class, Fidelity will automatically move your existing balances to Jackson Square SMID-Cap Growth Fund Institutional Class once the old fund is removed. If you currently do not have the fund in your selected investment options, there is nothing you need to do.

However, if you would like to request changes to your account, select the new fund, obtain additional information, or find answers to questions, log on to Fidelity NetBenefits® at www.netbenefits.com/vumc or call 800-343-0860, Monday through Friday, between 7:30 a.m. and midnight  Central time.