Skip Navigation
Tuesday, December 11, 2018

Administrative and Policy Change Log

Here you will see a list of Admin and Policy changes.

26

Posting Date: November 26, 2018

Action required: No

What: Effective January 1, 2019, the default fund for HCSP is changing to an age-appropriate Retirement Strategies fund.

Key Date(s): January 1, 2019

Impacted audiences: All new hires with the MERS Health Care Savings Program

Key information:

Effective January 1, 2019, the default fund for HCSP is changing to an age-appropriate Retirement Strategies fund. There are several reasons for this change:

  • Our data indicates that participants rarely move out of the default fund, which does not change or rebalance as the participant moves closer to retirement age. The Retirement Strategies fund will automatically adjust participants' investment allocations over time – moving them to more age-appropriate funds as retirement nears.

  • Retirement Strategies funds have lower investment fees – this means more of participants' money is being invested, increasing their overall account balance at separation of employment.

All new hires on or after January 1 will be defaulted into this fund.

For more information, contact: MERS Service Center – 800.767.MERS (6377)

MERS Facebook MERS TwitterMERS LinkedInMERS Youtube

Disclaimer
The information contained in this Web site is being made available as a public service. The information is not intended to constitute legal or investment advice, or to replace official versions of that information. Benefit Estimates or Service Credit Purchase estimates requested through this Web site are not official descriptions of any benefits, and do not represent a promise by MERS to provide any benefit(s) to any person(s). No one can detrimentally rely upon the information provided in, or requested through this Web site. MERS reserves the right to correct any errors, and presents this information without warranties, express or implied, regarding the information?s accuracy, timeliness or completeness. If you believe the information is inaccurate, out-of-date, or incomplete, or if you have problems accessing or reading the information, please call MERS at 800.767.MERS (6377).