Virginia Tech University, Blacksburg, is overhauling the investment options lineup of its 457(b) and 403(b) plans.
The changes will occur on Sept. 25, according to a brochure from the university's retirement plans website.
Participants with record keepers Fidelity Investments and TIAA-CREF will share a common four-tier structure for their lineups: an allocation tier (consisting of a target-date fund lineups managed by Fidelity and Nuveen, respectively), an active tier, a passive tier and a self-directed brokerage option.
For Fidelity participants, the passive tier will consist of 15 index funds managed by Fidelity, while TIAA participants' passive tier will feature 15 index funds managed by Vanguard Group.
Fidelity participants' active tier will include American Beacon Small Cap Value Fund, replacing Fidelity Small Cap Value Fund; Vanguard Explorer Fund Admiral Shares, replacing Fidelity Small Cap Growth Fund and Invesco Small Cap Growth Fund; Dodge & Cox International Stock Fund, replacing American Beacon International Equity Fund and Fidelity International Value Fund; Fidelity Contrafund, replacing American Funds The Growth Fund of America; Fidelity Extended Market Index Fund, replacing DWS Small Cap Core Fund - Class Institutional; and Vanguard Treasury Money Market Fund Investor Class, replacing Fidelity Conservative Income Bond Fund Investor Class and Fidelity Treasury Only Money Market Fund.
It will also include T. Rowe Price Mid-Cap Growth Fund, replacing Fidelity Growth Strategies Fund; Fidelity Select Construction & Housing Portfolio; Fidelity Stock Selector Mid Cap Fund; T. Rowe Price Mid-Cap Growth Fund; Cohen & Steers Realty Shares Fund, replacing Fidelity Real Estate Income Fund and Fidelity Real Estate Investment Portfolio; and JPMorgan Mid Cap Value Fund, replacing Artisan Mid Cap Value Fund Investor Class, Fidelity Leveraged Company Stock Fund, Fidelity Low-Priced Stock Fund, Fidelity Mid Cap Value Fund, Fidelity Value Fund and Fidelity Value Strategies Fund.
Vanguard Treasury Money Market Fund will replace Fidelity Government Cash Reserves Fund, Fidelity Government Money Market Fund, Fidelity Government Money Market Fund Premium Class and Fidelity Treasury Money Market Fund; while MFS Value Fund and The Hartford Equity Income Fund will replace American Century Investments Focused Large Cap Value Fund, Fidelity Blue Chip Value Fund, Fidelity Equity Dividend Income Fund, Fidelity Equity-Income Fund, Fidelity Large Cap Value Enhanced Index Fund, Fidelity Stock Selector Large Cap Value Fund and Fidelity Value Discovery Fund.
TIAA participants' active tier will include a variety of new funds, including Dodge & Cox International Stock Fund, JPMorgan Core Plus Bond, Vanguard Institutional Index Fund Institutional Shares, Vanguard Emerging Markets Stock Index Fund Institutional Shares and T. Rowe Price Mid-Cap Growth Fund. Most of the funds will replace TIAA-CREF funds managed by Nuveen.