Streamlining Investment Options in the Georgetown University Retirement Plans

Changes to the fund lineup for Defined Contribution, Voluntary Contribution and Deferred Compensation Retirement Plans

Over the course of the past year, the Office of Faculty and Staff Benefits has provided ongoing updates related to upcoming changes in the investment options available to participants in the University's retirement plans.

Options will continue to include stocks, bonds and stable value funds within each provider’s investment lineup that will allow you to easily create an investment mix to help you meet your retirement goals, investing style and/or preferences.

Key goals of these changes include:

  • Simplifying investment choices for retirement savings to facilitate decision-making with the assurance that options are considered “best in class”
  • Providing lower investment costs wherever possible
  • Continuing to provide options through TIAA, Fidelity and Vanguard
  • Eliminating duplicative funds within asset categories
  • Adding new funds to the core lineup that are not currently offered
  • Providing ongoing flexibility to move among investment options as your circumstances change

We have worked with each of the retirement plan vendors (TIAA, Fidelity Investments and Vanguard) to assemble a Transition Guide that thoroughly outlines the changes. Transition Guide

You can view the Transition Guide here. 

We ask that you carefully review the information contained in the guide and direct any of your investment-related questions to the appropriate retirement plan vendor. Please note the effective date of these changes will be Tuesday, January 9, 2018. No action is required if you are satisfied with the investments to which your funds will transfer.

Information Meetings with Charles DeSantis
If you would like to attend a meeting to learn more about these changes, but missed the information meetings, you can view the presentation here.

investment company contacts

TIAA 800-842-2252 
http://TIAA.org/Georgetown  
Monday to Friday, 8am – 10pm, Saturdays, 9am – 6pm
Want to schedule an advice conversation? Call 800-732-8353
One-on-one appointments with TIAA on campus are available on the following dates:

  • Friday, January 5
  • Thursday, January 11
  • Friday, January 19
  • Thusday, February 8
  • Friday, February 16
  • Friday, March 9

Fidelity Investments 800-343-0860 
http://netbenefits.com/Georgetown
Monday to Friday, 8am – midnight
Want to schedule a consultation? Call 800-642-7131
One-on-one appointments with Fidelity on campus are available on the following dates:

  • Wednesday, January 17
  • Wednesday, January 31
  • Monday, February 5
  • Friday, February 9
  • Friday, March 2

Vanguard 800-523-1188
http://georgetown.vanguard-education.com/ekit
Monday to Friday, 8am - midnight
Want to speak with a Participant Services associate? Call 800-523-1188
One-on-one appointments with Vanguard on campus are available on the following dates:

  • Monday, January 8 (Law Center)
  • Friday, January 12
  • Friday, February 2 (Law Center)

frequently Asked Questions

I received notice of changes being made the Georgetown University’s retirement plan fund lineup. How do I know if this affects me?

The easiest way to determine if any of your investments will be affected is to call your investment company (TIAA, Fidelity and/or Vanguard). They will be able to advise you of any impacts.

Why are these changes being made?

Georgetown University is making these changes following an extensive review by the University’s Investment Advisory Committee, in conjunction with investment advisor Cammack Retirement Group.  Key goals of the changes include:

  • Simplifying investment choices for retirement savings to facilitate decision-making with the assurance that options are considered “best in class”
  • Providing lower investment costs wherever possible
  • Continuing to provide options through TIAA, Fidelity and Vanguard
  • Eliminating duplicative funds within asset categories
  • Adding new funds to the core lineup that are not currently offered

I have forgotten which company I invest with, how do I figure that out?

If you are a current employee, you can log in to GMS and view a recent payslip. You’ll see the company name listed under Pre Tax Deductions if you are currently contributing.

I selected an investment company, but never specified any investment funds. Where’s my money going?

If you joined the 403(b) retirement plan in the last ten years and didn’t specify any investment funds, your payroll contributions have been directed into a target-date, or lifecycle, retirement fund with the investment company you selected.

What is a Target Date, or Lifecycle, Fund?

These types of funds invest in a selection of equity, fixed income and direct real estate funds providing diversified portfolios to suit the objectives of investors with different investment horizons based on anticipated date of retirement.

Which Target Date Funds are changing?

The current target-date retirement funds offered by Vanguard will not be changing. Those in Fidelity will transition from the Fidelity Freedom Fund to the Fidelity Freedom Index Institutional Premium Class. TIAA will transition from TIAA-CREF Lifecycle Institutional Class to TIAA-CREF Lifecycle Index Institutional Class. In both cases, this will result in lower fees for participants.

I don’t participate in the retirement plan, why did I get this notice?

Information regarding these changes to the retirement plan has been sent to all who are eligible to participate in the University’s retirement plans, including the Defined Contribution Retirement Plan, the Voluntary Retirement Contribution Plan, and the 457(b) Deferred Compensation Retirement Plan, regardless of whether or not they are currently participate.

Do I have to take any action?

Your funds will automatically transfer to replacement funds as outlined in the Transition Guide unless you decide to change your elections. Although this is a great time to review your current investments and allocation instructions, no action is required if you are satisfied with the investments to which your funds will transfer.

What if I don’t want my funds to transfer to the designated replacement funds?

Contact your investment company and specify alternative replacement funds. Please note that the mapping of replacement funds for current assets and future contributions take effect after market close on January 8, 2018.

Can I make changes to my investment funds after January 8?

Yes, you can make changes to your investment lineup at any time. Simply log in to your investment company’s website or call them.