August > Retirement Corner
Important Information About Your UT Retirement Investment Options
As part of our ongoing commitment to offering a high quality retirement program, the Office of Employee Benefits in partnership with the UTRetirement Program Providers and our outside investment consultant regularly monitors each offered investment option according to the criteria established in the UT Investment Policy Statement. The criteria includes but is not limited to) overall performance, objective, fees, fund management, and fit within the line-up. The goal is to maintain an array of investments to help you diversify your account according to your individual retirement planning needs, while offering an appropriate number that can be effectively monitored as part of our due diligence responsibilities.
During the latest investment fund review each retirement Provider was given the opportunity and challenge to upgrade the current investment funds offered through the UT Retirement Program. The goal of the process was to reduce redundancies in funds where the investment strategies and objectives of the funds were the same; eliminate funds that were not performing well on a long-term basis; and eliminate the funds with non-competitive fees.
This process will lead to a stream-lined fund offering that will provide you an array of high quality funds across the risk spectrum while making it easier for you to select the investment options that best fit your individual situation. The stream-lined fund line-up will be available to you starting in November 2011.
What does this mean for you?
If you are currently invested in any of the funds that will no longer be available, your current assets will remain in the those funds, but your future contributions will be directed to the remaining funds most closely aligned to the investment objectives of the discontinued fund. If you wish to transfer your existing account balance to another fund that will be available through the UT Retirement Program or select a different fund for future contributions, you may do so.
You will receive a letter from your UTRetirement Program Provider in September 2011 that will contain details about the investment options, instructions on how to make any changes you wish to make, and information on how to contact your retirement provider for questions and assistance.
UTRetirement Program Investment Fund Options https://www.utsystem.edu/oebFund/funds.aspx