Loyola University, Chicago, is overhauling the lineup of its 403(b) plan, said a transition guide posted on the plan's website.
The defined contribution plan had approximately $650 million in assets as of Dec. 31, 2013, according to its most recent Form 5500 filing.
The changes follow the hiring of Transamerica Retirement Solutions as the plan's sole record keeper. Starting this month, all new employer and employee contributions will be directed to Transamerica, which replaces Fidelity Investments, TIAA-CREF and VALIC.
The new investment lineup consists of 19 stand-alone investment options, all but one of which are new.
- A Vanguard Group money market fund, short-term bond fund, U.S. large-cap blend stock fund, world/foreign stock fund and real estate stock fund;
- A Dimensional Fund Advisors domestic small-cap value stock fund and emerging markets stock fund;
- Metropolitan West Total Return Bond Fund, managed by Metropolitan West Asset Management;
- BlackRock High Yield Bond Fund;
- MFS Value, managed by MFS Investment Management;
- TIAA-CREF Social Choice Equity Institutional;
- T. Rowe Price Growth Stock;
- Fidelity Spartan Extended Market Index Advantage, an existing fund option managed by Fidelity Investments;
- ClearBridge Small Cap Growth I, managed by Clearbridge Investments; and
- Oakmark International I.
There is also a target-date fund lineup managed by Vanguard Group, in addition to a brokerage window and four previously offered annuity options from TIAA-CREF.
Deborah Meister, director of benefits, compensation and human resources information system, and Steve Christensen, spokesman for the university, could not be reached for additional information by press time.