Benefits Plans - Retirement Savings Plans: new investment funds

Fidelity Investments Funds Affected

(Update June 1, 2011. The Index Funds were originally released as Class K, however Fidelity Investments change the name of the funds to Class W in May 2011.)

The 12 Fidelity Freedom Funds listed below will be transitioned to the Fidelity Freedom Index Funds W Class on the evening of September 8, 2010. The Freedom Index Funds will have the same investment objectives and similar investment strategies as the existing Freedom Funds, with the main difference being that Freedom Index will invest primarily in underlying index funds. 

The chart lists the expense ratio or fee in basis points of the less expensive Freedom Index Funds W Class compared to the current family of Freedom Funds.  The Freedom Index Class W is the share class with the lowest fees Fidelity offers for the Freedom Funds.

For answers to frequently asked questions about Fidelity funds, please refer to Fidelity FAQ.

Current – Retail Class

New - W Class

Fund Name

Ticker Symbol

Expense Ratio %

Fund Name

Ticker Symbol

Expense Ratio %

Fidelity Freedom Income Fund

FFFAX

0.48

Fidelity Freedom Index Income Fund: Class W

FIKFX

0.19

Fidelity Freedom 2000 Fund

FFFBX

0.49

Fidelity Freedom Index 2000 Fund: Class W

FGIFX

0.19

Fidelity Freedom 2005 Fund

FFFVX

0.63

Fidelity Freedom Index 2005 Fund: Class W

FJIFX

0.19

Fidelity Freedom 2010 Fund

FFFCX

0.64

Fidelity Freedom Index 2010 Fund: Class W

FKIFX

0.19

Fidelity Freedom 2015 Fund

FFVFX

0.67

Fidelity Freedom Index 2015 Fund: Class W

FLIFX

0.19

Fidelity Freedom 2020 Fund

FFFDX

0.72

Fidelity Freedom Index 2020 Fund: Class W

FPIFX

0.19

Fidelity Freedom 2025 Fund

FFTWX

0.74

Fidelity Freedom Index 2025 Fund: Class W

FQIFX

0.19

Fidelity Freedom 2030 Fund

FFFEX

0.76

Fidelity Freedom Index 2030 Fund: Class W

FXIFX

0.19

Fidelity Freedom 2035 Fund

FFTHX

0.78

Fidelity Freedom Index 2035 Fund: Class W

FIHFX

0.19

Fidelity Freedom 2040 Fund

FFFFX

0.79

Fidelity Freedom Index 2040 Fund: Class W

FBIFX

0.19

Fidelity Freedom 2045 Fund

FFFGX

0.80

Fidelity Freedom Index 2045 Fund: Class W

FIOFX

0.19

Fidelity Freedom 2050 Fund

FFFHX

0.82

Fidelity Freedom Index 2050 Fund: Class W

FIPFX

0.19

 

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Limitations
The University of Michigan in its sole discretion may modify, amend, or terminate the benefits provided with respect to any individual receiving benefits, including active employees, retirees, and their dependents. Although the university has elected to provide these benefits this year, no individual has a vested right to any of the benefits provided. Nothing in these materials gives any individual the right to continued benefits beyond the time the university modifies, amends, or terminates the benefit. Anyone seeking or accepting any of the benefits provided will be deemed to have accepted the terms of the benefits programs and the university's right to modify, amend or terminate them.