Product: Defined Contribution, Hybrid, 457

Contacts: All participants who have assets in the Stable Value Fund or are allocated to the fund

Date Sent: 1/10/2024

Format: Mailing

Description: Effective 1/30/2024, the Stable Value Fund provider (for the MERS Defined Contribution Plan – including the DC portion of Hybrid – and the 457 Program) will transition to Voya. This change will result in a decrease to the annual operating expense from 0.85% to 0.63% as of 2/1. A notice was mailed to participants who have assets in this fund or are allocated to this fund on 1/10.

A sample of the mailing can be viewed here.