Georgetown (Ky.) College is rolling out a new investment lineup for its 403(b) plan on Jan. 1 with TIAA-CREF as sole record keeper, according to a transition guide posted on the school's retirement plan website.
TIAA-CREF and Fidelity Investments were both providers for the plan. Fidelity plan assets will be mapped to the new investment lineup on TIAA-CREF's platform on Feb. 24.
The new lineup features two annuity funds from TIAA-CREF, a global real estate fund managed by Prudential and a series of American Century Investments target-date funds. The fixed-income options are managed by American Century, BlackRock, Lord Abbett, Franklin Templeton, Vanguard Group and Western Asset Management Co..
For equity options, there are four Vanguard funds, two each from Invesco and T. Rowe Price, and one each from TIAA-CREF, American Funds, Goldman Sachs Asset Management, MFS Investment Management, Oakmark, Principal Financial Group and Wells Fargo.
The previous fund lineup was largely made up of proprietary funds from both providers. Participants may keep their existing assets in TIAA-CREF options that are no longer available on the new lineup, but future contributions can be made to only the new fund lineup.
The 403(b) plan had about $43 million in assets, as of Dec. 31, according to its most recent Form 5500 filing.
Tracie Shapiro, director of human resources, did not return a telephone call for additional information by press time.