College also revamps investment lineup of retirement plans
Western Michigan University, Kalamazoo, Mich., hired TIAA-CREF as the sole record keeper of its retirements plans and unveiled a new investment option lineup, said a brochure for participants on the retirement plan's website.
TIAA-CREF became sole record keeper effective Nov. 6, having previously shared record-keeping duties for the plans with Fidelity Investments. The previous TIAA-CREF lineup had 57 investment options and a target-date fund lineup managed by Nuveen.
The new lineup, consisting of 17 investment options, three TIAA-CREF annuity options and a target-date fund lineup managed by Vanguard Group, retains only two options from the prior lineup: an active domestic large-cap growth equity fund managed by T. Rowe Price Group and an active domestic core-plus fixed-income fund managed by Western Asset Management.
New to the plan are an active international large-cap growth equity fund managed by Capital Group; an active international value equity fund managed by Artisan Partners (APAM); an active domestic midcap growth equity fund managed by Carillon Tower Advisers; an active domestic large-cap value equity fund managed by MFS Investment Management; an active domestic small-cap growth equity fund managed by T. Rowe Price; an active domestic small-cap value equity fund managed by Victory Capital Management; and an active domestic midcap value equity fund managed by Wells Fargo Asset Management. Also new to the plan are five passive equity funds, a passive real estate fund, passive fixed-income funds and a money market fund managed by Vanguard.
Further information on the plans and their asset sizes could not be immediately learned. University spokesman Tony Proudfoot could not be immediately reached to provide further information.