Benefits Plans - Retirement Savings Plans: new investment funds

Vanguard Fund Lineup by Asset Class

Fourteen funds from the Vanguard family will become available through TIAA-CREF and Fidelity Investments.  Vanguard was chosen because it offers extremely low-cost mutual funds and is one of the most common retirement plan investment carriers in higher education, along with TIAA-CREF and Fidelity.  It provides yet another option for you to save for retirement using funds with very low fees.

The 14 available funds encompass the major asset classes of domestic and international stock, bond, money market, and real estate funds.  The fund choices allow you to assemble a broadly-diversified portfolio of funds that are cost-effective due to their low expenses.  The funds have varying degrees of risk and reward that can meet the investment needs of both conservative and aggressive investors.

The Vanguard funds will initially be offered under the Investor Class.  The share class is eligible to be transitioned to the Admiral Class, which has even lower management fees and expenses, if sufficient participation and asset accumulations occur.  Please note the Vanguard Emerging Markets Stock Index Fund is only available through TIAA-CREF as Fidelity does not carry this fund on their record keeping platform.

Since your account is still with TIAA-CREF and/or Fidelity, you do not open a separate account with Vanguard.  Any customer service or other inquiries related to the Vanguard funds are also handled directly through TIAA-CREF and/or Fidelity.

Information on Vanguard funds may be found by logging into the secure TIAA-CREF and Fidelity Investments websites in September.

Fund Name

Asset Class

Ticker Symbol

Expense Ratio %

Vanguard Prime Money Market Fund

Money Market

VMMXX

0.25

Vanguard Inflation Protected Securities Fund

Bond

VIPSX

0.25

Vanguard Intermediate Term Treasury Fund

Bond

VFITX

0.25

Vanguard Long Term Treasury Fund

Bond

VUSTX

0.25

Vanguard Short Term Treasury Fund

Bond

VFISX

0.22

Vanguard Total Bond Market Index

Bond

VBMFX

0.22

Vanguard 500 Index Fund

Stock: Domestic

VFINX

0.18

Vanguard Total Stock Market Index Fund

Stock: Domestic

VTSMX

0.18

Vanguard Emerging Markets Stock Index Fund1

Stock: International

VEIEX

0.40

Vanguard  European Stock Index Fund

Stock: International

VEURX

0.27

Vanguard Pacific Stock Index Fund

Stock: International

VPACX

0.27

Vanguard Total International Stock Index

Stock: International

VGTSX

0.32

Vanguard Balanced Index Fund

Balanced

VBINX

0.25

Vanguard REIT Index Fund

Sector

VGSIX

0.26

1 The Vanguard Emerging Markets Stock Index Fund is only available through TIAA-CREF at this time.

How Do I Select Vanguard Funds?

You choose the Vanguard funds through your account on-line through the TIAA-CREF or Fidelity secure websites or by calling their national call centers to make allocation changes or transfers assets.

 

TIAA-CREF
Telephone Counseling Center
1-800-842-2776
M - F, 8:00 a.m. to 11:00 p.m., Eastern time
http://www.tiaa-cref.org

Fidelity Investments
Fidelity Retirement Specialists
1-800-343-0860
M - F, 8:00 a.m. to midnight, Eastern time
http://www.fidelity.com

While you may select Vanguard through your TIAA-CREF and/or Fidelity accounts, any Vanguard funds you select will be record kept by TIAA-CREF and/or Fidelity Investments.  Your quarterly statements from TIAA-CREF and/or Fidelity will reflect any balances and transactions with the Vanguard funds as part of a consolidated statement.

Since your account is still with TIAA-CREF and/or Fidelity, you do not open a separate account with Vanguard.  Any customer service or other inquiries related to the Vanguard funds are also handled directly through TIAA-CREF and/or Fidelity.

 

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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.