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Important investment change information

We’re updating the plan’s investment options. While this is important to know, no action is required.

What's happening

On or around June 20, 2025, we will implement the following changes to the plan’s investment lineup:

  • Updating Savings Plus Target Date Funds: Assets currently in a Savings Plus target date fund will transition to a State Street target date fund for the same retirement year.
  • Removing the Savings Plus Target Date 2020 Fund.
  • Closing the Short Term Investment Fund: Assets currently in this fund will be moved to a target date fund that aligns with the year you reach the retirement age of 62. Note: The Short Term Investment Fund - Cash is not impacted and will continue to be an investment option.
  • Adding the State Street Target Date 2070 Fund: A new target date fund will be introduced for participants turning age 62 near the year 2070.

Why it's happening

  • Regular review and adjustment: We regularly review and adjust our fund lineup to ensure that we provide you with the best possible investment options. This proactive approach helps us stay aligned with market trends and participant needs.
  • Fee reduction for greater growth potential: A key benefit of these changes is the overall reduction of fees in the underlying investments. Lower fees mean that more of your contributions are invested for potential growth, enhancing your retirement savings over time.
  • Alignment with best practices: These updates are part of our commitment to align with industry best practices and fiduciary standards. We strive to provide you with high-quality, cost-effective investment options that support your long-term financial well-being.

What this means for you

No action required: You do not need to take any action. These changes will happen automatically and will not impact your current investment objectives or financial goals.

Routinely review investment strategy: It is always a good idea to regularly review your investment strategy to ensure that it aligns with your retirement planning goals.

Frequently asked questions
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If you have assets in the Savings Plus Target Fund on or around June 20, 2025, they will be moved according to the table below:

Current funds Receiving fund
Savings Plus Target Date Fund 2065 State Street Target Retirement 2065
Savings Plus Target Date Fund 2060 State Street Target Retirement 2060
Savings Plus Target Date Fund 2055 State Street Target Retirement 2055
Savings Plus Target Date Fund 2050 State Street Target Retirement 2050
Savings Plus Target Date Fund 2045 State Street Target Retirement 2045
Savings Plus Target Date Fund 2040 State Street Target Retirement 2040
Savings Plus Target Date Fund 2035 State Street Target Retirement 2035
Savings Plus Target Date Fund 2030 State Street Target Retirement 2030
Savings Plus Target Date Fund 2025 State Street Target Retirement 2025
Savings Plus Target Date Fund 2020 State Street Target Retirement Income
Savings Plus Target Date Income Fund State Street Target Retirement Income

If you have assets in the Short Term Investment Fund on or around June 20, 2025, they will be moved according to the table below:

Fund elimination Birth year range Receiving fund
Short Term Investment Fund 2006+ State Street Target Retirement 2070
Short Term Investment Fund 2001-2005 State Street Target Retirement 2065
Short Term Investment Fund 1996-2000 State Street Target Retirement 2060
Short Term Investment Fund 1991-1995 State Street Target Retirement 2055
Short Term Investment Fund 1986-1990 State Street Target Retirement 2050
Short Term Investment Fund 1981-1985 State Street Target Retirement 2045
Short Term Investment Fund 1976-1980 State Street Target Retirement 2040
Short Term Investment Fund 1971-1975 State Street Target Retirement 2035
Short Term Investment Fund 1966-1970 State Street Target Retirement 2030
Short Term Investment Fund 1961-1965 State Street Target Retirement 2025
Short Term Investment Fund 1960 < = State Street Target Retirement — Income
You don't need to take any action. The fund mapping process will automatically transfer your investments from one fund to another of a similar type. If you're invested in a fund that's being closed or removed from the Plan, your money will be moved to the corresponding investment option.
You don't need to take any action. The fund mapping process will automatically transfer your contribution investment elections to the corresponding investment option.
The Plan's investment structure was reviewed to reassess the number and types of options available, with a focus on offering lower-cost investments when possible. Changes were made to provide cost savings and/or improved performance for participants.
The change aims to improve overall investment options, ensure alignment with your strategies, and reduce investment fees, allowing more of your money to be invested. Your assets in the current target date funds or the Short Term Investment Fund (STIF) will be automatically moved to the new target date funds. Assets in other funds will remain unchanged.

We're closing the Short-Term Investment Fund as part of our regular review to ensure you have the best investment options available. If you have money in this fund, you can easily move your assets to any other investment option. If you don't take any action before the fund mapping, your assets will be automatically redirected to a fully diversified, age-appropriate target date fund.

Even after your assets have been moved, you'll still have the flexibility to invest in any of the other plan options whenever you like.
This process is automatic, and there are no fees associated with this change.
If you’re not satisfied with the new target date funds, you can choose different funds within the plan. Review available investment options
While this change offers an opportunity to potentially enhance your investment strategy, it's important to ensure that your investments align with your retirement goals, and make adjustments as your situation or goals evolve. Ultimately, the impact of this change will depend on the performance of the new target date funds.

No, these changes are part of our regular review process. We continuously strive to provide you with the best possible investment options that align with industry best practices and fiduciary standards. This proactive approach ensures that your long-term retirement goals are well-supported, regardless of market conditions.

For more insights on investing during volatile market conditions, please refer to these resources.

Avoiding emotional Investing
What to do during a down market
If you have questions or need assistance, contact the Savings Plus Solutions Center or schedule an appointment with the Retirement Resource Group®.
Questions? Contact us
If you have questions or need further information, please schedule an appointment with a Retirement Specialist or call the Solutions Center at 1-855-616-4776.

Target Date Funds invest in a wide variety of underlying funds to help reduce investment risk. So, in addition to the expenses of the Target Date Funds, you pay a proportionate share of the expenses of the underlying funds. Like other funds, Target Date Funds are subject to market risk and loss. Loss of principal can occur at any time, including before, at or after the target date. There is no guarantee that target date funds will provide enough income for retirement.