February 04, 2013 -
As part of our ongoing fiduciary responsibility, the MERS Investment Menu is continually monitored for issues such as performance, overlap and for the optimal number of fund options.
In conducting this regular review, we determined that six funds either underperformed on a long-term basis, or overlapped with existing funds in the investment lineup.
Effective April 1, any assets in the six closing funds will be transferred to a replacement fund. No action is required, and the changes only apply to the MERS Defined Contribution Plan, MERS Hybrid Plan, MERS Health Care Savings Program, and MERS 457 Program. MERS Defined Benefit Plan members are unaffected by these changes.
Also on April 1, two new funds, the MERS Emerging Market Fund and the MERS Global Equity Fund,will be added to the Expanded Funds tier of the investment lineup.
We have included notice of the change in the current edition of the Active Outlook newsletter, and we will also send notice of the change to affected participants by mail.