Retirement Transition Changes for Vanguard Participants
If you currently have assets with Vanguard, this page will give you details on what will happen during and after the transition to Fidelity with your account(s). We have organized the information below by the type of retirement plan you have.
Faculty Retirement Plan
All balances will transfer to Fidelity during the transition. You may make choices for your transferring balances during the Early Choice Window. If you do not make an election, review the Mapping Guide for details on how your investments will transfer.
Optional Retirement Plan
ORP account balances held at Vanguard will not automatically move to Fidelity as part of the transition. If you would like to move your ORP assets at Vanguard to Fidelity, you can do so after the transition is over. For assistance, contact Fidelity at 800-343-0860.
If you are contributing to the ORP at the time of the transition and after, your future contributions will start being contributed to Fidelity beginning with your April 8, 2020 paycheck.
457 Deferred Compensation Plan
All Vanguard account balances in the 457 Plan will move to Fidelity during the transition. Any future contributions made to the 457 Plan on and after April 8, 2020, will be contributed to Fidelity too.
If you have a beneficiary on file at Vanguard, that information will not transfer to Fidelity during the transition. You can always choose a beneficiary after the transition with Fidelity, but you can also do so during the Early Choice Window starting February 3 and ending on March 17, 2020. Read the beneficiary fact sheet (pdf) for more information.
If you still have assets at Vanguard or other vendors after the transition, you will continue to receive a quarterly statement Vanguard.
Call Fidelity at 800-343-0860 for help or investment advice. To make an appointment with a Fidelity representative, call the Fidelity reservation line at 800-642-7131, go online to NetBenefits.com/UMN.
You can contact Total Compensation by calling 4-UOHR (612-624-8647 or 800-756-2363) and select option 1 or you can send an email to firstname.lastname@example.org.
For questions about your current account, contact Vanguard.