Vanguard Target Date Retirement Fund changes
IU-sponsored retirement plan participants should watch their email or home mailbox for a notice from Fidelity about upcoming changes to the Vanguard Target Date Retirement Fund series. The target date funds are the default investment option for all IU-sponsored retirement plans. If you do not make investment elections, your funds are automatically invested in an age-appropriate target date fund.
The Vanguard Target Retirement 2015 Fund is being closed and will be combined with the Vanguard Target Retirement Income Fund on or about July 8, 2022. For current 2015 fund participants:
- The 2015 fund will be closed to new investments and future contributions, including loan payments, and such investment elections will be transferred to the income fund on or about July 6, 2022.
- All existing balances in the 2015 fund will be transferred to the income fund on or about July 8, 2022.
New investment option
The Vanguard Target Retirement 2070 Fund is a new fund that will be added to IU’s investment lineup on July 15, 2022. For participants who have not selected investments and are currently defaulted into the Vanguard Target Retirement 2065 Fund:
- If your birthday is between Jan. 1, 1998, and Dec. 31, 2002, any existing balances and future contributions will remain in the 2065 fund unless you decide to move them.
- If your birthday is on Jan. 1, 2003, or later, all future contributions will automatically be invested in the new 2070 fund beginning July 15, 2022. Any existing balances in the 2065 fund will remain there unless you decide to move them.
These fund changes will take place without any action required from participants. If you wish to make changes to your investments, you can do so any time by logging on to your Fidelity NetBenefits account or by calling Fidelity at 800-343-0860.