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Boston University 457(b) Savings Plan
A 457(b) plan that allows eligible employees to defer compensation to the future, lowering current taxable income and offering potential tax-deferred growth.
The Boston University 457(b) Savings Plan is a non-qualified Plan under Section 457(b) of the Internal Revenue Code.
Choose from the tiers of investments below. Tiers are distinct categories designed to simplify your investment choices. At any time, you may use investments from any and all tiers.
Investing Style: Diversified portfolio within a single fund that shifts its emphasis to more conservative investments as the year of retirement nears.
Target-date funds are designed for participants who prefer a single-fund solution that includes a mix of stocks, bonds, and short-term assets. Each of the funds creates a diversified portfolio within one fund, based on your expected retirement year (the "target date" of the fund).
Through the Plans' fund lineup, you can invest in the Vanguard Target Retirement Funds. The Vanguard Target Retirement Funds are an asset mix of stocks, bonds and other investments that automatically becomes more conservative as the fund approaches its target retirement date and beyond. Principal invested is not guaranteed.
INVESTMENTS | ASSET CLASS | CATEGORY | AVERAGE ANNUAL TOTAL RETURNS | CUMULATIVE RETURNS | ||||||
---|---|---|---|---|---|---|---|---|---|---|
1 Yr |
3 Yr |
5 Yr |
10 Yr |
Life |
3 Mon |
YTD |
As of Date |
|||
VANG TARGET RET 2020
Inception Date 06/07/2006 |
Blended Investments* |
N/A |
10.42% |
1.98% |
5.60% |
5.63% |
5.99% |
2.83% |
0.41% |
03/31/2024 |
VANG TARGET RET 2025
Inception Date 10/27/2003 |
Blended Investments* |
N/A |
12.95% |
2.68% |
6.55% |
6.31% |
6.64% |
3.81% |
1.03% |
03/31/2024 |
VANG TARGET RET 2030
Inception Date 06/07/2006 |
Blended Investments* |
N/A |
14.81% |
3.35% |
7.37% |
6.88% |
6.74% |
4.57% |
1.41% |
03/31/2024 |
VANG TARGET RET 2035
Inception Date 10/27/2003 |
Blended Investments* |
N/A |
16.37% |
4.02% |
8.17% |
7.43% |
7.50% |
5.24% |
1.90% |
03/31/2024 |
VANG TARGET RET 2040
Inception Date 06/07/2006 |
Blended Investments* |
N/A |
17.94% |
4.69% |
8.96% |
7.95% |
7.46% |
5.85% |
2.34% |
03/31/2024 |
VANG TARGET RET 2045
Inception Date 10/27/2003 |
Blended Investments* |
N/A |
19.45% |
5.34% |
9.74% |
8.40% |
8.20% |
6.45% |
2.78% |
03/31/2024 |
VANG TARGET RET 2050
Inception Date 06/07/2006 |
Blended Investments* |
N/A |
20.42% |
5.68% |
9.99% |
8.53% |
7.81% |
6.86% |
3.08% |
03/31/2024 |
VANG TARGET RET 2055
Inception Date 08/18/2010 |
Blended Investments* |
N/A |
20.43% |
5.69% |
9.98% |
8.51% |
10.12% |
6.88% |
3.09% |
03/31/2024 |
VANG TARGET RET 2060
Inception Date 01/19/2012 |
Blended Investments* |
N/A |
20.44% |
5.70% |
9.99% |
8.51% |
9.91% |
6.87% |
3.09% |
03/31/2024 |
VANG TARGET RET 2065
Inception Date 07/12/2017 |
Blended Investments* |
N/A |
20.41% |
5.72% |
9.98% |
-- |
9.19% |
6.88% |
3.11% |
03/31/2024 |
VANG TARGET RET 2070
Inception Date 06/28/2022 |
Blended Investments* |
N/A |
20.51% |
-- |
-- |
-- |
16.01% |
6.88% |
3.08% |
03/31/2024 |
VANG TARGET RET INC
Inception Date 10/27/2003 |
Blended Investments* |
N/A |
8.47% |
1.23% |
4.14% |
4.14% |
4.91% |
2.09% |
-0.07% |
03/31/2024 |
Investing Style: A broad selection of equity index funds designed to mirror a market index or benchmark.
Passively managed funds - commonly known as "index funds" - seek to approximate their benchmark's performance, rather than beat their benchmarks. Because the objective is to simply mirror the holdings and return of an index, less research is needed, transactions occur less frequently, and expenses tend to be lower than those of actively managed funds.
Ultimately, index funds are designed to provide exposure to a broad selection of securities at a relatively low cost. While these funds typically perform very similarly to the index they track, you should be aware that index funds cannot be expected to meet or beat the index's performance.
A benchmark is what the investment's returns are compared to in order to measure performance.
INVESTMENTS | ASSET CLASS | CATEGORY | AVERAGE ANNUAL TOTAL RETURNS | CUMULATIVE RETURNS | ||||||
---|---|---|---|---|---|---|---|---|---|---|
1 Yr |
3 Yr |
5 Yr |
10 Yr |
Life |
3 Mon |
YTD |
As of Date |
|||
VANG TOT STK MKT IP
Inception Date 04/27/1992 |
Stock Investments |
N/A |
29.38% |
9.65% |
14.27% |
12.28% |
10.35% |
10.01% |
4.90% |
03/31/2024 |
VANG FTSE SOC IDX IS
Inception Date 01/14/2003 |
Stock Investments |
Large Cap |
32.22% |
10.35% |
15.23% |
13.33% |
6.98% |
10.19% |
4.84% |
03/31/2024 |
VANG TOT INTL STK IS
Inception Date 04/29/1996 |
Stock Investments |
International |
13.00% |
1.91% |
6.19% |
4.48% |
4.89% |
4.32% |
1.86% |
03/31/2024 |
Investing Style: A broad selection of funds that seek to preserve savings and generate income or produce returns that exceed the inflation rate.
The New York Life Guaranteed Fixed Interest Account is a guaranteed fixed-return annuity designed to provide you with a high level of principal stability. In addition, it lets you convert your balance to a guaranteed stream of income when you retire (Any guarantees are subject to the claims paying ability of the issuer).
The remaining funds in Tier 3 focus on income generation and inflation protection for investors who want to produce a growing income distribution while leaving the principal alone or returns that exceed the inflation rate so investors can build future purchasing power and wealth.
Unlike the managers of index funds, the managers of actively managed funds do not attempt to mirror the holdings and performance of an index. These fund managers have flexibility to actively seek out investments that they believe will beat, or exceed, the performance of an index. Since actively managed strategies often involve a great deal of research and because transactions within these funds tend to occur more frequently, actively managed investment options often have higher expense ratios than index funds.
You could lose money by investing in a money market fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund's sponsor has no legal obligation to provide financial support to money market funds and you should not expect that the sponsor will provide financial support to the fund at any time.
INVESTMENTS | ASSET CLASS | CATEGORY | AVERAGE ANNUAL TOTAL RETURNS | CUMULATIVE RETURNS | ||||||
---|---|---|---|---|---|---|---|---|---|---|
1 Yr |
3 Yr |
5 Yr |
10 Yr |
Life |
3 Mon |
YTD |
As of Date |
|||
PIM INFL RESP MA IS
Inception Date 08/31/2011 |
Blended Investments* |
N/A |
7.39% |
5.06% |
6.08% |
4.05% |
3.24% |
2.31% |
0.56% |
03/31/2024 |
NYL GUAR INT ACCOUNT
|
Bond Investments |
Stable Value |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
LOOMIS CORE PL BD Y
Inception Date 11/07/1973 |
Bond Investments |
Income |
1.86% |
-2.09% |
1.17% |
1.97% |
6.47% |
-0.33% |
-2.76% |
03/31/2024 |
VANG INFL PROT INST
Inception Date 06/29/2000 |
Bond Investments |
Income |
0.26% |
-0.66% |
2.39% |
2.15% |
4.54% |
-0.06% |
-1.55% |
03/31/2024 |
VANG CR FED MM ADM
Inception Date 10/03/1989 7 day yield % as of 03/31/2024: 5.29 ** |
Short-Term Investments |
Other |
5.33% |
2.65% |
2.04% |
1.46% |
2.98% |
1.32% |
1.76% |
03/31/2024 |
Learn the plan basics - including eligibility - of each retirement savings plan offered by your employer.
By law, participation in a 457(b) Plan must be limited to a select group of highly compensated employees within an organization. To meet this requirement, the University has determined you are eligible to participate in the 457(b) Savings Plan if your current annual base salary or your total gross earnings from the prior calendar year is equal to at least $180,000. This earnings threshold for eligibility may be adjusted each year by Boston University.
Eligibility to participate in the 457(b) Savings Plan is determined on an ongoing basis. If you become eligible mid-year, you may begin participating in the month following your eligibility. If you lose eligibility mid-year, your contributions will stop in the month you lose eligibility.
If you are eligible for the 457(b) Savings Plan, then there is no waiting period. Your contribution becomes effective on the first of the month following your enrollment.
To enroll in the Plan, log on to your account at the top left hand corner of this page. If you do not have a NetBenefits username and password click on "Register" at the top of the page and then follow the prompts to create one. Once you have created one or if you already have a username and password choose the "BU 457B PLAN" from the home page.
Next select the Contributions Tab. On the next page select the "Deferral Election" link. On the Deferral Election page you will be able to enter a monthly dollar amount to contribute to the Plan. Follow the instructions to confirm your contribution. The minimum election is $100 per month with a maximum election of $22,500 in a month. Elections can be made in $1.00 increments. Once you have completed your deferral election follow these steps to select your investment elections.
Step 1: In the "Next Steps" box at the bottom of the page, choose the link "View and update your investment elections."
Step 2: On the Investment Elections page, follow the instructions to select your investments.
See the additional information on this page or call Fidelity at 1-800-343-0860 if you have questions or need assistance with enrollment in the Plan.
You are always 100% vested in your own contributions to the Boston University 457(b) Savings Plan.
Beneficiary information currently on file at Fidelity for your Boston University Retirement Plan and the Boston University Supplemental Retirement and Savings Plan will not automatically transfer to the 457(b) Savings Plan. You must make elections for all of your Plans, and your designations can be different or the same for each of your Plans.
Beneficiary designations for the 457(b) Savings Plan can be made on Fidelity's website, NetBenefits®. Log into your account at at the top of left hand side of this page, choose the "Profile" link at the top right of the homepage and then choose "Beneficiaries".
Beneficiary designations for the Boston University Retirement Plan and the Boston University Supplemental Retirement and Savings Plan are completed by form. Your 457(b) Savings Plan designations can also be completed by form, if you wish. Call Fidelity at 800-343-0860 for help with your beneficiary designations or to request a beneficiary form.
If you separate from service you must choose from the options listed below within 120 days of your separation date. If you do not complete your election within the 120 days you will receive a lump sum distribution.
If you reach age 73* and are still actively working you are not required to take a Required Minimum Distribution (RMD). The Plan rules require that RMDs begin at the later of age 73* or separation from service. In the event of your death, any remaining account balance will be distributed to your beneficiary according to the plan's rules.
Any assets distributed from your 457(b) plan will be taxable as ordinary income according to the federal tax tables. Distributions will be taxed as wages in the year in which you receive them. You also have the opportunity to withhold additional amounts if needed. Federal income tax will not be withheld at the rate in effect at the time of withdrawal if an eligible plan-to-plan transfer is made to another employer's 457(b) plan that accepts the transfer. Be sure you understand the federal and state tax consequences of any distribution before you initiate one. You may want to consult your tax advisor regarding your situation.
*The change in the RMDs age requirement from 72 to 73 applies only to individuals who turn 72 on or after January 1, 2023. After you reach age 73, the IRS generally requires you to withdraw an RMD annually from your tax-advantaged retirement accounts (excluding Roth IRAs, and Roth accounts in employer retirement plan accounts starting in 2024). Please speak with your tax advisor regarding the impact of this change on future RMDs.
Online, on the phone, or in person, you have access to your account the way you want it. Log in online to NetBenefits® virtually 24/7 or call Fidelity at 1-800-343-0860 to speak with a representative or use the automated voice response system.
Fidelity financial professionals provide complimentary one-on-one consultations for participants in your plan. You can also contact Fidelity for a statement of your account by calling 1-800-343-0860 or visiting NetBenefits®.
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Before investing, consider the investment objectives, risks, charges and expenses of the fund or annuity and its investment options. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
** The current yield of the money market mutual fund listed above reflects the current earnings of the fund, while the total return refers to a specific past holding period.
*** The yield without applicable waivers or reimbursements, whenever Fidelity is subsidizing all or a portion of the fund's expenses as of the current reporting period. Absent such waivers or reimbursements, the returns would have been lower. Waivers and/or reimbursements may be discontinued any time.
Investing involves risk, including risk of loss.
Footnotes 1, 2, 3 and 4 below pertain to the performance tables located on the Investment Options tab:
1 Stock markets are volatile and can fluctuate significantly in response to company, industry, political, regulatory, market, or economic developments. Investing in stock involves risks, including the loss of principal.
2 Total returns are historical and include change in share price and reinvestment of dividends and capital gains, if any. These figures do not include the effect of sales charges, if any, as these fees are waived for contributions made through your retirement plan. If sales charges were included, returns would have been lower. Life of fund figures are from the inception date to the period shown. For unitized funds, the inception date shown may be that of the fund's underlying investment option. For non-mutual fund pools and trusts whose strategies may be offered to multiple clients, and whose returns may be based on a composite, the inception date shown may be the beginning date of the composite's returns.
3In general, the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk, liquidity risk, call risk, and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so holding them until maturity to avoid losses caused by price volatility is not possible.
4Target Date Funds are an asset mix of stocks, bonds and other investments that automatically becomes more conservative as the fund approaches its target retirement date and beyond. Principal invested is not guaranteed.
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