In order to continue to meet financial and investment interests of members in the Self-Managed plan, SURS notified members of updates to the plan:
New Investment Option:
The Fidelity Freedom K 2055 Fund has been added as an investment option effective June 20, 2012. This fund strives for the best total return based on a target retirement date.
Share Class Changes:
Effective at market close on June 20, 2012, the share class of five investment options will change, resulting in a changes to the Fund Codes, Ticker Symbols, and Expense Ratios. The new share class will offer the same investment strategy and risk but the overall expenses will be lower.
More information about the new Freedom K 2055 fund and the new share class can be found in the Changes to the SURS SMP Plan communication that was sent to all Self-Managed Plan members.
Reduction in Disability Rates:
Effective July 1, 2012, 7.2% of the 7.6% state contribution to your SURS Self-Managed Plan will be allocated as the contribution to your retirement account and 0.40% will go to the disability reserve. This will amount to an increase of 0.10% towards your designated TIAA-CREF and/or Fidelity Account. More information about this rate reduction can be found in the SMP Employer Contribution Allocation communication sent to all Self-Managed Plan members.
