Product: Defined Contribution, Hybrid, 457, Health Care Savings Program, IRA
Contacts: All participants who have assets in an Index fund or are allocated to a fund
Date Sent: 1/10/2024
Description: Effective 1/30/2024, the Index fund provider (for the MERS Defined Contribution Plan – (including the DC portion of Hybrid), 457 Program, Health Care Savings Program and IRA) will transition to BNY Investment Management. As a result of this transition, there will be a reduction in operating expenses for many of the funds offered and participants will see this reduction on the Q1 fund performance sheet associated with that fund. Notice to participants who have assets in this fund, or are allocated to any of these funds, was mailed the week on 1/10/24.
A sample of the mailing can be viewed here.