Product: Defined Contribution, 457 Program, MERS IRA, Health Care Savings Program
Contacts: PDA participants with money invested in one of the three funds being removed
Date Sent: 5/3/2021
MERS’ investment menus are deliberately streamlined so that users can build a diverse portfolio, while making selections based on asset class and risk tolerance. Following a recent review by the MERS Investment Committee, we will be simplifying the investment menu even further for our participant directed accounts including, DC, 457, HCSP and IRA.
Effective June 24, 2021, the following three target risk portfolios will be removed and assets will automatically be invested proportionately to achieve an identical asset allocation in the MERS Global Equity Portfolio and MERS Diversified Bond Portfolio:
On Monday, May 3, a letter was mailed to participants with money invested in one of the three funds being removed indicating that they will be directly impacted.
Sample: A copy of the letter can be found here.