Searches and Hires

University of Dayton moves to single record keeper, revamps lineups for 403(b) plans

University of Dayton, Dayton, Ohio, overhauled its investment options lineup after consolidating both it 403(b) plans to TIAA-CREF as its single record keeper, said Troy Washington, vice president for human resources, in an email.

The changes are effective April 25. Currently, the Tax-Deferred Annuity Plan has Fidelity Investments, Lincoln Financial Group and TIAA-CREF as record keepers, and the Defined Contribution Retirement Plan already has TIAA-CREF as a single record keeper. Mr. Washington said a search process took place last year to move to a single record keeper to lower participant fees and consolidate the fund lineup. Fidelity was a part of that process, he said.

Both plans now have the same investment options lineup. The new lineup has 29 investment options, a target-date fund series managed by TIAA's Nuveen and a self-directed brokerage account. New to the plans are: a global fixed-income fund managed by AllianceBernstein (AB); a global equity fund managed by Capital Group; active domestic large-cap equity funds managed by MML Investment Advisers and T. Rowe Price Group; passive domestic large-cap and midcap equity funds managed by Vanguard Group; an active domestic midcap equity fund managed by Carillon Tower Advisers; and an active domestic small-cap equity fund managed by Janus Henderson Investors.

The two plans had a combined $709 million in assets as of Dec. 31.