July 16, 2012

DIVISION OF HUMAN RESOURCES
 
IN THIS EDITION
Emory’s Temporary Tobacco Use Zones End on August 1
New Emory Voicemail and Fax System
Important Message about Your Retirement Plan
Medical Plans for 2013
All About Health, July/August 2012
Back to School with Emory WorkLife
Emory Employee Health Offices Relocating
Follow the Emory WorkLife Resource Center on Twitter!
Get Savings All Summer Long With Sparkfly!



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Important Message about Your Retirement Plan

Emory’s 403(b) Retirement Plan is a valuable benefit for our faculty and staff.  Because the retirement plan plays a key role in your ability to retire with financial security, it is important to be informed about the investments you choose.

In the next two weeks, if you are eligible to participate in Emory’s retirement plan, you will receive an important email about the investment options in the retirement plan, and the fees associated with the plan.  While this email will come from Fidelity Investments, it will contain detailed information about the investment options offered by all of Emory’s vendors: Fidelity, TIAA-CREF and Vanguard.  It will include:
•        An overview of factors to consider when making investment decisions
•        The different investment options available to you
•        Performance history
•        Fees and expenses
•        Glossary of terms

Why will you be receiving this information?
Under new retirement plan regulations, the federal government requires that all employers provide participants with detailed information about their retirement plans in a new standard format.  Each of the vendors already provides the same information for the funds they offer in the fund prospectuses and on their websites. For simplicity, Emory has arranged with Fidelity to provide the required standard information for all three vendors.

The material that you will receive will be somewhat lengthy and technical.  This material is provided for informational purposes only and does not represent any changes from the investment decisions that you have already made.  The federal government requires that this level of detail be provided to you so that you are well informed about your investments, have good information about the various investment options available to you, and have the opportunity to make changes if you choose to.
 
It is important to note that there are no changes being made to the investments or the fee structures of any of Emory’s retirement vendors.  All investments in Emory’s retirement plans, or in any 403(b) plan offered by any employer, have fees that are included.  These fees are used for administration of participants’ retirement accounts and managing the investments.  Most of the time, the fees are imbedded in the investment returns of the funds themselves.
 
You may be aware that Emory Investment Management (EIM) professionals select and evaluate the funds that are offered in our retirement plan.  Together with Emory’s management, EIM acts in the best interest of faculty and staff in selecting reputable vendors with reasonable fees and solid investment options.

What should you do with the information?
The document you will receive will provide you with a comparison of all three vendors and their investment options in one place.  You should take the time to review the material carefully.  This is an opportunity for you to take a look at your current retirement investment selections and compare the fees and expense ratios of all the investment options available.  Keep in mind that fees do differ with each vendor and with each fund.

Although no action will be required, based on your review, you may decide to make changes to your 403(b) or 403(b) Roth.  You may also wish to discuss the information with your vendor or financial advisor. 

Additional resources and information are available on the Benefits web site. If you have any questions, please contact the Benefits office.

 

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