St. John's University Retirement Plan, New York, is rolling out a new investment lineup on the Fidelity Investments platform on Dec. 9, according to a transition brochure posted on the university's website.
The 403(b) plan is consolidating to 16 core investment options in addition to a series of target-date funds and a brokerage option, from more than 100 proprietary Fidelity fund options. The target-date funds are also transitioning to T. Rowe Price from Fidelity.
The new lineup consists of nine managers, including four existing Fidelity options and five new Vanguard Group funds. The other managers are Pacific Investment Management Co., Franklin Templeton Investments, Diamond Hill Capital Management, Eaton Vance Management, American Funds and Oppenheimer Funds.
The defined contribution plan had $750 million in assets as of Dec. 31, according to its most recent Form 5500 filing. TIAA-CREF is also a provider for the plan. The changes affect only the Fidelity platform.
Andrea Yenco, executive director, compensation and employee benefits, could not be reached by press time for additional information.