COMPARISON OF PLAN PROVIDERS UT RETIREMENT PLANS …
COMPARISON OF PLAN PROVIDERS UT RETIREMENT PLANS (ARP, 403(b))
Plan Providers
AIG VALIC
Fidelity
How do the Fixed Annuities compare among the providers?
AIG VALIC Fixed Account
New York Life GIA
Current Interest Rate earned on new contributions to Fixed Annuities
2.25%
2.90%
Guaranteed Minimum Interest Rate
1.00%
1.00%
Independent Credit Ratings on the Fixed Annuities
AM Best
A (3rd of 16)
A++ (1st of 16)
Fitch
A+ (5th of 19)
AAA (1st of 19)
Moody's
A2 (6th of 21)
Aaa (1st of 21)
Standard & Poor's
A+ (5th of 22)
AA+ (2nd of 22)
TIAA
TIAA Traditional Annuity 3.50% 1.00%
A++ (1st of 16) AAA (1st of 19) Aa1 (2nd of 21) AA+ (2nd of 22)
Voya
Voya Fixed Plus III 2.75% 1.00%
Not Rated* A (6th of 19) A2 (6th of 21) A (6th of 22)
How do the Variable Funds compare among the providers?
Actively Managed Mutual Funds - offered by each provider
Multiple Fund Managers
Index Funds - offered by each provider
Fidelity
Target Date Funds - offered by each provider
TIAA Lifecycle Index
Variable Annuities - offered by one provider
NA
Multiple Fund Managers Multiple Fund Managers Multiple Fund Managers
Fidelity Fidelity Freedom Index
NA
Vanguard TIAA Lifecycle Index CREF Stock, CREF Social Choice, TIAA Real Estate
Fidelity TIAA Lifecycle Index
NA
If I do not select a fund, what is the Default Option?
The Target Date Funds (specific to the age of the participant) are the Default Option
TIAA Lifecycle Index
Fidelity Freedom Index TIAA Lifecycle Index
TIAA Lifecycle Index
How much does each Provider charge in Record Keeping Fees?
Annual Record Keeping Fee - calculated as a percent of the Participant's assets in the Plan**
0.65%
Plan Administration Fee (audit, consulting, legal)
0.03%
0.37% 0.03%
0.08% 0.03%
0.20% 0.03%
*Voya has decided to discontinue its A.M. Best rating. The 2018 sale of Voya's individual annuity business and Voya's decision to cease new individual life insurance sales has diminished the company's need to maintain the ratings from A.M. Best. This discontinuance was based on Voya's business decision and does not reflect any concerns from A.M. Best about Voya's creditworthiness or its ability to meet its ongoing obligations. Prior to this decision, A.M. Best had affirmed its previous strong ratings of Voya.
** Record Keeping fee amounts are divided by 4 and charged quarterly to participant acccounts.
"The information contained herein has been obtained from sources that are believed to be reliable. However, Cammack does not independently verify the accuracy of this information and makes no representations as to its accuracy or completeness."
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