Dartmouth College, Hanover, N.H., is overhauling the investment options in its defined contribution plans, the college announced in a brochure for participants on its website.
The new investment option lineup consists of four tiers: a target-date fund lineup managed by Vanguard Group, a tier consisting of nine index funds, also all managed by Vanguard, a tier consisting of seven actively managed investment options, and a tier consisting of five variable annuities all managed by TIAA-CREF.
The active funds are an international large-cap growth equity fund managed by Capital Group, a domestic large-cap value equity fund managed by MFS Investment Management, a domestic large-cap growth equity fund managed by T. Rowe Price Group, a domestic intermediate-term fixed-income fund managed by PGIM Fixed Income, an inflation-protected fixed-income fund and money market fund managed by Vanguard, and a balanced fund managed by Walden Asset Management.
The record keepers for the plan are Fidelity Investments and TIAA.
Previously, the Fidelity lineup consisted of 187 investment options, the vast majority of which were managed by Fidelity, and a target-date fund lineup managed by Fidelity.
The TIAA lineup previously consisted of 16 investment options, all managed by TIAA except for a domestic fixed-income fund managed by Calvert Research and Management and a TIAA lifecycle fund series.
Calvert is the plan’s third record keeper, and account balances in Calvert’s menu will be moved to Fidelity on May 26.
Further information on which plans are affected, asset sizes of the plans, and the reasons for the changes, were not immediately available.
Scot R. Bemis, chief human resources officer, declined to comment and referred questions to the university’s public affairs office, which could not be immediately reached.