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Union College 403(b) Plan
When and Why:
Depending on your plan, there are two options to consider: Target Date Funds which are based on an anticipated retirement date and Target Allocation Funds that are based on a risk tolerance and time horizon.
Note: The performance data featured represents past performance, which is no guarantee of future results. Investment return and principal value of an investment will fluctuate, therefore you may have a gain or loss when you sell your shares. Current performance may be higher or lower than the performance data quoted. Click on an investment to view quarter end returns, risk, fees and expenses. 1,2,3,4.
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 |
|||
FID FDM IDX 2010 IPR
Inception Date 10/02/2009 |
Blended Investments* |
N/A |
7.04% |
0.06% |
3.59% |
4.09% |
5.42% |
0.88% |
3.98% |
06/30/2024 |
FID FDM IDX 2015 IPR
Inception Date 10/02/2009 |
Blended Investments* |
N/A |
8.12% |
0.29% |
4.34% |
4.73% |
5.97% |
0.96% |
4.77% |
06/30/2024 |
FID FDM IDX 2020 IPR
Inception Date 10/02/2009 |
Blended Investments* |
N/A |
9.22% |
0.52% |
5.06% |
5.27% |
6.60% |
1.07% |
5.51% |
06/30/2024 |
FID FDM IDX 2025 IPR
Inception Date 10/02/2009 |
Blended Investments* |
N/A |
10.16% |
0.91% |
5.72% |
5.77% |
7.30% |
1.20% |
6.22% |
06/30/2024 |
FID FDM IDX 2030 IPR
Inception Date 10/02/2009 |
Blended Investments* |
N/A |
11.32% |
1.48% |
6.58% |
6.55% |
8.01% |
1.35% |
6.85% |
06/30/2024 |
FID FDM IDX 2035 IPR
Inception Date 10/02/2009 |
Blended Investments* |
N/A |
13.25% |
2.40% |
7.99% |
7.52% |
8.90% |
1.58% |
8.04% |
06/30/2024 |
FID FDM IDX 2040 IPR
Inception Date 10/02/2009 |
Blended Investments* |
N/A |
15.41% |
3.42% |
9.21% |
8.14% |
9.37% |
1.89% |
9.53% |
06/30/2024 |
FID FDM IDX 2045 IPR
Inception Date 10/02/2009 |
Blended Investments* |
N/A |
16.22% |
3.76% |
9.42% |
8.24% |
9.49% |
2.03% |
10.11% |
06/30/2024 |
FID FDM IDX 2050 IPR
Inception Date 10/02/2009 |
Blended Investments* |
N/A |
16.20% |
3.77% |
9.43% |
8.24% |
9.52% |
2.03% |
10.10% |
06/30/2024 |
FID FDM IDX 2055 IPR
Inception Date 06/01/2011 |
Blended Investments* |
N/A |
16.17% |
3.77% |
9.43% |
8.24% |
8.65% |
2.01% |
10.12% |
06/30/2024 |
FID FDM IDX 2060 IPR
Inception Date 08/05/2014 |
Blended Investments* |
N/A |
16.20% |
3.76% |
9.42% |
-- |
8.56% |
2.07% |
10.07% |
06/30/2024 |
FID FDM IDX 2065 IPR
Inception Date 06/28/2019 |
Blended Investments* |
N/A |
16.17% |
3.75% |
9.43% |
-- |
9.43% |
1.96% |
10.13% |
06/30/2024 |
FID FDM IDX INC IPR
Inception Date 10/02/2009 |
Blended Investments* |
N/A |
6.14% |
-0.08% |
2.58% |
2.97% |
3.49% |
0.80% |
3.33% |
06/30/2024 |
When and Why:
Do you have time and interest in choosing your own investments and managing your portfolio's diversification on an ongoing basis?
Each investment option is managed to achieve specific objectives, including a certain balance of risk and potential returns. For more information on any investment option listed below, simply click on its name.
Note: The performance data featured represents past performance, which is no guarantee of future results. Investment return and principal value of an investment will fluctuate, therefore you may have a gain or loss when you sell your shares. Current performance may be higher or lower than the performance data quoted. Click on an investment to view quarter end returns, risk, fees and expenses. 1,2,3,4.
You may lose money by investing in a money market fund. Not all money market funds operate the same way and depending on the fund, you may be subject to certain operating policies and risks not applicable to other money market funds. Please click on the name of the fund below for risks specific to that fund.
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 |
|||
FID TOTAL MKT IDX
Inception Date 11/05/1997 |
Stock Investments |
Large Cap |
23.25% |
7.93% |
14.06% |
12.09% |
8.78% |
3.24% |
14.50% |
06/30/2024 |
FID EXTD MKT IDX
Inception Date 11/05/1997 |
Stock Investments |
Mid-Cap |
14.95% |
-2.46% |
8.69% |
8.26% |
8.26% |
-3.42% |
9.43% |
06/30/2024 |
FID SM CAP IDX
Inception Date 09/08/2011 |
Stock Investments |
Small Cap |
10.17% |
-2.47% |
7.04% |
7.16% |
10.44% |
-3.25% |
12.37% |
06/30/2024 |
FID EMRG MKTS IDX
Inception Date 09/08/2011 |
Stock Investments |
International |
11.33% |
-5.41% |
2.72% |
2.74% |
2.68% |
4.77% |
6.57% |
06/30/2024 |
FID INTL INDEX
Inception Date 11/05/1997 |
Stock Investments |
International |
11.37% |
3.07% |
6.65% |
4.47% |
5.19% |
-0.27% |
7.11% |
06/30/2024 |
FID REAL ESTATE IDX
Inception Date 09/08/2011 |
Stock Investments |
Specialty |
4.79% |
-2.49% |
1.08% |
4.26% |
6.34% |
-1.92% |
3.59% |
06/30/2024 |
FID INFL PR BD IDX
Inception Date 05/16/2012 |
Bond Investments |
Income |
2.67% |
-1.37% |
2.01% |
1.87% |
1.53% |
1.02% |
1.89% |
06/30/2024 |
FID INTM TR BD IDX
Inception Date 12/20/2005 |
Bond Investments |
Income |
1.60% |
-3.56% |
-0.72% |
1.08% |
3.10% |
0.10% |
0.80% |
06/30/2024 |
FID LT TR BD IDX
Inception Date 12/20/2005 |
Bond Investments |
Income |
-5.67% |
-10.54% |
-4.29% |
0.55% |
3.35% |
-1.67% |
-2.98% |
06/30/2024 |
FID ST TR BD IDX
Inception Date 12/20/2005 |
Bond Investments |
Income |
4.09% |
-0.46% |
0.68% |
1.07% |
2.10% |
0.87% |
1.76% |
06/30/2024 |
FID US BOND IDX
Inception Date 03/08/1990 |
Bond Investments |
Income |
2.68% |
-3.03% |
-0.22% |
1.33% |
5.00% |
0.16% |
0.84% |
06/30/2024 |
FID GOVT MMKT
Inception Date 02/05/1990 7 day yield % as of 06/30/2024: 4.97 ** |
Short-Term Investments |
N/A |
5.09% |
2.85% |
1.92% |
1.26% |
2.64% |
1.24% |
2.86% |
06/30/2024 |
A self-directed brokerage account allows you to make investments beyond those offered in your workplace retirement savings plan.
For more information or to open a self-directed brokerage account, first enroll in your Fidelity workplace retirement savings plan. Then visit www.netbenefits.com > Quick Links > BrokerageLink where you can open an account or review additional information, including the commission schedule for applicable fees and risks.
BrokerageLink includes investments beyond those in your plan's lineup. You should compare investments and share classes that are available in your plan's lineup with those available through BrokerageLink, and determine the available investment and share class that is appropriate for your situation. The plan fiduciary neither evaluates nor monitors the investments available through BrokerageLink. It is your responsibility to ensure that the investments you select are suitable for your situation, including your goals, time horizon, and risk tolerance.
Learn the plan basics - including eligibility - of each retirement savings plan offered by your employer.
You are immediately eligible to participate in the Union College 403(b) Plan and may enroll at any time.
Enroll in your Plan through Retirement@Work. Simply click here to be redirected to myapps.union.edu. Sign in using your Union College credentials and click on the Retirement@Work tile. You will be able to elect your contribution percentage and choose your retirement plan provider(s).
Your enrollment becomes effective once you indicate how much you'd like to contribute, also known as the deferral. You will generally begin to see your contributions deducted from your paycheck in the next pay period, or as soon as administratively possible.
Through automatic payroll deduction, you may contribute a dollar amount or percentage up to 100% of your eligible pay on a pretax or Roth 403(b) basis, up to the annual IRS dollar limits.
After you have completed 12 months of employment at the College with at least 1,000 service hours, and you are at least 21 years old, you will be enrolled for Employer Contributions on the earliest of the following dates: January 1, April 1, July 1, or October 1. Currently the Union College contribution is 11% of your base compensation. You are not required to make pretax savings contributions or Roth contributions to be eligible for a share of the Employer Contributions.
A Roth contribution to your retirement savings plan allows you to make after-tax contributions and take any associated earnings completely tax free at retirement - as long as the distribution is a qualified one. A qualified distribution, in this case, is one that is taken at least five tax years after your first Roth 403(b) contribution and after you have attained age 59˝, or become disabled or die. Through automatic payroll deduction, you can contribute between 1% and 100% of your eligible pay as designated Roth contributions, up to the annual IRS dollar limits.
You are always 100% vested in your own contributions to the Union College 403(b) Plan.
Employees are 100% vested in Union College's contributions and any earnings on them after 3 years of continuous service.
Your beneficiary or beneficiaries will inherit your account in the event of your death. You should consider identifying a beneficiary when you enroll in your plan, and updating the information if you experience a life-changing event such as a marriage, divorce, birth of a child, or death in the family. The form is located under the Forms & Documents tab on the Tools and Resources page.
Withdrawals from the Plan are generally permitted when you terminate your employment, retire, reach age 59˝, become permanently disabled, have severe financial hardship, as defined by your plan.
Although your plan account is intended for the future, you may borrow from your account for any reason. Generally, plan rules allow you to borrow up to 50% of your vested account balance.
The minimum loan amount is $1,000, and a loan must not exceed $50,000. Any outstanding loan balances from the previous 12 months may reduce the amount you have available to borrow. You then pay the money back into your account, plus interest, through ACH deductions from your bank account.
You may have three loans outstanding at a time. The cost to initiate a Fidelity loan is $75, and there is a quarterly maintenance fee of $6.25. The Fidelity initiation and maintenance fees are deducted directly from your plan account.
Note: If you fail to repay your loan (based on the original terms of the loan), it will be considered in "default" and treated as a distribution, making it subject to income tax and possibly to a 10% early withdrawal tax penalty. Defaulted loans may also impact your eligibility to request additional loans.
If you have retirement savings in another employer's plan or in an IRA, consolidating accounts may help make it easier to manage your savings but there are several options. Be sure to consider all your available options and the applicable fees and features of each before moving your retirement assets.
If you're not sure about the best option for you, talk to a Fidelity representative today. They can explain each option in greater detail so you can make the best choice for your specific needs.
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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