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UVA Optional Retirement Plan (ORP)
This site has been designed to give you a general description of the main features of the UVA Retirement Plans. Please see the Plan Basics section below for more information regarding the UVA Optional Retirement Plan.
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.
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 |
|||
|
VANG FTSE SOC IDX IS
Inception Date 01/14/2003 |
Stock Investments |
Large Cap |
16.71% |
8.61% |
11.16% |
13.24% |
6.38% |
8.14% |
16.99% |
08/31/2023 |
|
FID FREEDOM 2005 K
Inception Date 11/06/2003 |
Blended Investments |
N/A |
2.27% |
-0.03% |
2.57% |
3.91% |
4.33% |
0.74% |
2.52% |
08/31/2023 |
|
FID FREEDOM 2010 K
Inception Date 10/17/1996 |
Blended Investments |
N/A |
3.29% |
0.70% |
3.12% |
4.66% |
5.86% |
1.14% |
3.36% |
08/31/2023 |
|
FID FREEDOM 2015 K
Inception Date 11/06/2003 |
Blended Investments |
N/A |
4.42% |
1.43% |
3.64% |
5.29% |
5.38% |
1.68% |
3.99% |
08/31/2023 |
|
FID FREEDOM 2020 K
Inception Date 10/17/1996 |
Blended Investments |
N/A |
5.53% |
2.12% |
4.14% |
5.81% |
6.35% |
2.17% |
4.80% |
08/31/2023 |
|
FID FREEDOM 2025 K
Inception Date 11/06/2003 |
Blended Investments |
N/A |
6.57% |
2.79% |
4.59% |
6.37% |
6.10% |
2.68% |
5.40% |
08/31/2023 |
|
FID FREEDOM 2030 K
Inception Date 10/17/1996 |
Blended Investments |
N/A |
7.92% |
3.77% |
5.17% |
7.16% |
6.73% |
3.17% |
6.16% |
08/31/2023 |
|
FID FREEDOM 2035 K
Inception Date 11/06/2003 |
Blended Investments |
N/A |
10.39% |
5.53% |
6.16% |
8.05% |
6.94% |
4.19% |
7.61% |
08/31/2023 |
|
FID FREEDOM 2040 K
Inception Date 09/06/2000 |
Blended Investments |
N/A |
12.56% |
6.87% |
6.91% |
8.51% |
4.92% |
5.15% |
9.05% |
08/31/2023 |
|
FID FREEDOM 2045 K
Inception Date 06/01/2006 |
Blended Investments |
N/A |
12.89% |
6.96% |
6.98% |
8.54% |
6.55% |
5.32% |
9.35% |
08/31/2023 |
|
FID FREEDOM 2050 K
Inception Date 06/01/2006 |
Blended Investments |
N/A |
12.96% |
6.98% |
6.98% |
8.55% |
6.43% |
5.35% |
9.36% |
08/31/2023 |
|
FID FREEDOM 2055 K
Inception Date 06/01/2011 |
Blended Investments |
N/A |
12.91% |
6.98% |
6.98% |
8.58% |
8.12% |
5.32% |
9.33% |
08/31/2023 |
|
FID FREEDOM 2060 K
Inception Date 08/05/2014 |
Blended Investments |
N/A |
12.91% |
6.98% |
6.97% |
-- |
7.88% |
5.28% |
9.25% |
08/31/2023 |
|
FID FREEDOM 2065 K
Inception Date 06/28/2019 |
Blended Investments |
N/A |
12.97% |
7.01% |
-- |
-- |
8.27% |
5.40% |
9.36% |
08/31/2023 |
|
FID FREEDOM INC K
Inception Date 10/17/1996 |
Blended Investments |
N/A |
2.19% |
-0.37% |
2.33% |
3.22% |
4.31% |
0.69% |
2.43% |
08/31/2023 |
|
VANG TARGET RET 2020
Inception Date 06/07/2006 |
Blended Investments |
N/A |
5.51% |
1.94% |
4.15% |
5.88% |
5.73% |
2.41% |
4.97% |
08/31/2023 |
|
VANG TARGET RET 2025
Inception Date 10/27/2003 |
Blended Investments |
N/A |
7.18% |
2.72% |
4.71% |
6.51% |
6.36% |
3.25% |
6.06% |
08/31/2023 |
|
VANG TARGET RET 2030
Inception Date 06/07/2006 |
Blended Investments |
N/A |
8.44% |
3.55% |
5.21% |
7.06% |
6.35% |
3.86% |
6.82% |
08/31/2023 |
|
VANG TARGET RET 2035
Inception Date 10/27/2003 |
Blended Investments |
N/A |
9.48% |
4.42% |
5.72% |
7.62% |
7.14% |
4.39% |
7.55% |
08/31/2023 |
|
VANG TARGET RET 2040
Inception Date 06/07/2006 |
Blended Investments |
N/A |
10.62% |
5.32% |
6.22% |
8.13% |
7.00% |
4.95% |
8.26% |
08/31/2023 |
|
VANG TARGET RET 2045
Inception Date 10/27/2003 |
Blended Investments |
N/A |
11.75% |
6.20% |
6.76% |
8.50% |
7.78% |
5.51% |
9.03% |
08/31/2023 |
|
VANG TARGET RET 2050
Inception Date 06/07/2006 |
Blended Investments |
N/A |
12.35% |
6.43% |
6.89% |
8.57% |
7.28% |
5.80% |
9.42% |
08/31/2023 |
|
VANG TARGET RET 2055
Inception Date 08/18/2010 |
Blended Investments |
N/A |
12.33% |
6.42% |
6.88% |
8.55% |
9.51% |
5.80% |
9.41% |
08/31/2023 |
|
VANG TARGET RET 2060
Inception Date 01/19/2012 |
Blended Investments |
N/A |
12.33% |
6.42% |
6.88% |
8.55% |
9.22% |
5.79% |
9.43% |
08/31/2023 |
|
VANG TARGET RET 2065
Inception Date 07/12/2017 |
Blended Investments |
N/A |
12.35% |
6.45% |
6.88% |
-- |
7.83% |
5.78% |
9.39% |
08/31/2023 |
|
VANG TARGET RET 2070
Inception Date 06/28/2022 |
Blended Investments |
N/A |
12.34% |
-- |
-- |
-- |
11.92% |
5.80% |
9.44% |
08/31/2023 |
|
VANG TARGET RET INC
Inception Date 10/27/2003 |
Blended Investments |
N/A |
3.85% |
0.45% |
3.16% |
4.06% |
4.71% |
1.60% |
3.91% |
08/31/2023 |
|
VANG TOT BD MK IS PL
Inception Date 12/11/1986 |
Bond/Stable Value Inv |
Income |
-1.00% |
-4.37% |
0.55% |
1.48% |
5.08% |
-0.98% |
0.00% |
08/31/2023 |
When and Why:
Investors may choose from a range of fund choices that reflect different styles and goals.
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 |
|||
|
VANG TOT STK MKT IP
Inception Date 04/27/1992 |
Stock Investments |
N/A |
14.72% |
9.72% |
10.18% |
12.17% |
9.98% |
8.53% |
12.96% |
08/31/2023 |
|
VANG MIDCAP IDX INST
Inception Date 05/21/1998 |
Stock Investments |
Mid-Cap |
6.73% |
8.45% |
7.47% |
10.09% |
9.66% |
8.23% |
3.67% |
08/31/2023 |
|
VANG SM CAP IDX INST
Inception Date 10/03/1960 |
Stock Investments |
Small Cap |
7.84% |
9.83% |
5.51% |
9.23% |
10.47% |
9.89% |
3.74% |
08/31/2023 |
|
VAN EM MKT ST IDX IS
Inception Date 05/04/1994 |
Stock Investments |
International |
1.76% |
-0.05% |
2.20% |
3.45% |
5.75% |
4.20% |
3.27% |
08/31/2023 |
|
VANG DEV MKT IDX IS
Inception Date 08/17/1999 |
Stock Investments |
International |
16.05% |
5.98% |
4.14% |
5.19% |
4.29% |
3.46% |
7.65% |
08/31/2023 |
|
VAN REAL EST IDX IS
Inception Date 05/13/1996 |
Stock Investments |
Specialty |
-7.13% |
4.04% |
3.48% |
6.68% |
9.01% |
4.25% |
-4.06% |
08/31/2023 |
NYL GUAR INT ACCOUNT
|
Bond/Stable Value Inv |
Stable Value |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
VANG HI YLD CORP ADM
Inception Date 12/27/1978 |
Bond/Stable Value Inv |
Income |
6.58% |
1.17% |
3.21% |
4.27% |
7.78% |
2.51% |
4.63% |
08/31/2023 |
|
VANG INFL PROT INST
Inception Date 06/29/2000 |
Bond/Stable Value Inv |
Income |
-3.86% |
-1.56% |
2.21% |
2.03% |
4.54% |
-1.20% |
0.15% |
08/31/2023 |
|
VANG ST BOND IDX IS
Inception Date 03/01/1994 |
Bond/Stable Value Inv |
Income |
1.10% |
-1.52% |
1.14% |
1.15% |
3.51% |
-0.08% |
1.39% |
08/31/2023 |
|
VANG VMMR-FED MMKT
Inception Date 07/13/1981 7 day yield % as of 08/31/2023: 5.28 ** |
Short-Term Investments |
N/A |
4.36% |
1.60% |
1.62% |
1.03% |
3.89% |
1.30% |
3.61% |
08/31/2023 |
When and Why:
Investors may choose from a range of fund choices that reflect different styles and goals.
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 CONTRAFUND K6
Inception Date 05/25/2017 |
Stock Investments |
Large Cap |
23.40% |
5.92% |
10.72% |
-- |
13.46% |
9.35% |
23.93% |
08/31/2023 |
|
VANG PRIMECAP ADM
Inception Date 11/01/1984 |
Stock Investments |
Large Cap |
22.66% |
12.02% |
10.11% |
14.13% |
13.53% |
10.49% |
16.80% |
08/31/2023 |
|
FID LOW PRICED STK K
Inception Date 12/27/1989 |
Stock Investments |
Mid-Cap |
10.93% |
13.24% |
8.25% |
9.32% |
12.88% |
7.49% |
3.33% |
08/31/2023 |
|
FID DIVERSFD INTL K6
Inception Date 05/25/2017 |
Stock Investments |
International |
16.50% |
2.36% |
5.21% |
-- |
5.31% |
2.19% |
7.76% |
08/31/2023 |
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 have 60 days from your hire date to enroll in the ORP. If you do not choose a program, you will be automatically enrolled in the Virginia Retirement System (VRS).
When you are ready to get started, click the "Enroll Now" button above or call 800-343-0860.
State legislation passed on March 15, 2010, has created two plans for ORP members. House Bill 1189 and Senate Bill 232 are referred to as Plan 2 and the current provisions as Plan 1. The provisions for Plans 1 and 2 will be effective July 1, 2010.
Plan 1
Eligibility: All current UVA employees participating in the ORP are in Plan 1 and this legislation does not affect them. Employees hired on or before March 15, 2010 are in Plan 1. Employees whose contracts are executed between March 16, 2010 and June 30, 2010 and begin employment before July 1, 2010 will be in Plan 1.
Contribution: The University will continue to contribute 10.4% of salary to the ORP for employees in Plan 1.
Plan 2
Eligibility: Employees whose contracts are executed between March 16, 2010 and June 30, 2010 and start work on or after July 1, 2010 will be in Plan 2. Employees whose contracts are executed after July 1, 2010, and forward, are in Plan 2 regardless of start date. In addition, "rehired employees" will be eligible for Plan 2. Rehired employees are those who take a refund of the funds in their member contribution account or ORP account from a previous position and return to covered employment with no service credit.
Contribution: The University will contribute 8.9% of salary to the ORP for employees in Plan 2. Employees in Plan 2 are required to make a 5% member contribution.
When you are "vested" in your savings, it effectively means the money is yours to keep. For employees hired or rehired prior to July 1, 2014, you are immediately 100% vested in all contributions to your plan, as well as any earnings on them. For employees hired or rehired on or after July 1, 2014, you are immediately 100% vested in your employee contributions and 100% vested in any employer contributions after 2 years of continuous employment.
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.
To designate your beneficiary(ies), please complete a Beneficiary Designation Form.
Withdrawals from the Plan are generally permitted when you terminate your employment, retire, or reach age 59˝.
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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