Retirement Plan Committee keeps watch over fund performance

March 19, 2013  


Purdue's Retirement Plan Committee regularly reviews the investment funds offered in Purdue's retirement plan lineup to assure that the funds are performing up to plan standards.

The committee was started at the recommendation of the Retirement Plan Review Task Force of 2009.

Led by Jim Almond, senior vice president and assistant treasurer, the committee is charged with the following responsibilities:

* Recommend the overall number and types of fund options to be offered to participants (including the default option for participants who fail to make investment elections).

* Review performance of each investment option.

* Review and monitor the costs associated with the plans.

All changes to Purdue's fund lineup must be approved by the committee before going into effect. This includes share class changes, which take place when Purdue retirement program assets in a particular fund reach a level that qualifies the retirement program to offer shares with a lower expense ratio for the fund. The committee also determines when an underperforming fund should be replaced by another with similar investment goals. In such cases, the committee is charged with selecting the replacement fund.

When lineup changes are made, Fidelity is responsible for communicating them to faculty, staff and retirees participating in Purdue's plans. The next fund lineup communication from Fidelity is planned for mid-March.

The Retirement Plan Committee now has a Web page that provides information about the committee's responsibilities, a listing of positions that serve on the committee, a link to the Defined Contribution Retirement Plan Policy and more.

The page is at www.purdue.edu/hr/Benefits/retirementPlanCommittee.html. To contact the committee, send an email to RetirementPlanCommittee@purdue.edu.

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