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VCU Optional Retirement Plan (ORP) - Plan # 73048
This site has been designed to give you a general description of the main features of the VCU Optional Retirement Plan (ORP). Please see the Plan Basics section below for more information.
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 |
|||
|
FID FREEDOM 2005 K6
Inception Date 11/06/2003 |
Blended Investments |
Balanced/Hybrid |
-7.56% |
1.04% |
2.38% |
3.81% |
4.32% |
0.22% |
3.17% |
02/28/2023 |
|
FID FREEDOM 2010 K6
Inception Date 10/17/1996 |
Blended Investments |
Balanced/Hybrid |
-8.05% |
1.98% |
2.87% |
4.58% |
5.86% |
0.13% |
3.31% |
02/28/2023 |
|
FID FREEDOM 2015 K6
Inception Date 11/06/2003 |
Blended Investments |
Balanced/Hybrid |
-8.60% |
2.87% |
3.32% |
5.16% |
5.35% |
0.13% |
3.52% |
02/28/2023 |
|
FID FREEDOM 2020 K6
Inception Date 10/17/1996 |
Blended Investments |
Balanced/Hybrid |
-9.16% |
3.68% |
3.73% |
5.66% |
6.32% |
0.02% |
3.70% |
02/28/2023 |
|
FID FREEDOM 2025 K6
Inception Date 11/06/2003 |
Blended Investments |
Balanced/Hybrid |
-9.16% |
4.45% |
4.13% |
6.30% |
6.03% |
0.09% |
3.77% |
02/28/2023 |
|
FID FREEDOM 2030 K6
Inception Date 10/17/1996 |
Blended Investments |
Balanced/Hybrid |
-8.86% |
5.59% |
4.67% |
7.07% |
6.67% |
0.09% |
3.78% |
02/28/2023 |
|
FID FREEDOM 2035 K6
Inception Date 11/06/2003 |
Blended Investments |
Balanced/Hybrid |
-8.48% |
7.50% |
5.48% |
7.96% |
6.80% |
0.09% |
3.83% |
02/28/2023 |
|
FID FREEDOM 2040 K6
Inception Date 09/06/2000 |
Blended Investments |
Balanced/Hybrid |
-8.16% |
8.78% |
6.06% |
8.31% |
4.70% |
0.12% |
3.73% |
02/28/2023 |
|
FID FREEDOM 2045 K6
Inception Date 06/01/2006 |
Blended Investments |
Balanced/Hybrid |
-8.06% |
8.81% |
6.06% |
8.35% |
6.29% |
0.14% |
3.84% |
02/28/2023 |
|
FID FREEDOM 2050 K6
Inception Date 06/01/2006 |
Blended Investments |
Balanced/Hybrid |
-8.01% |
8.82% |
6.08% |
8.37% |
6.18% |
0.22% |
3.79% |
02/28/2023 |
|
FID FREEDOM 2055 K6
Inception Date 06/01/2011 |
Blended Investments |
Balanced/Hybrid |
-8.02% |
8.81% |
6.07% |
8.43% |
7.82% |
0.21% |
3.77% |
02/28/2023 |
|
FID FREEDOM 2060 K6
Inception Date 08/05/2014 |
Blended Investments |
Balanced/Hybrid |
-8.04% |
8.81% |
6.08% |
-- |
7.47% |
0.13% |
3.82% |
02/28/2023 |
|
FID FREEDOM 2065 K6
Inception Date 06/28/2019 |
Blended Investments |
Balanced/Hybrid |
-8.07% |
8.77% |
-- |
-- |
7.23% |
0.19% |
3.76% |
02/28/2023 |
|
FID FREEDOM INC K6
Inception Date 10/17/1996 |
Blended Investments |
Balanced/Hybrid |
-7.33% |
0.51% |
2.10% |
3.01% |
4.31% |
0.31% |
3.14% |
02/28/2023 |
METLIFE FIXED-NEW
Inception Date 09/30/2001 |
Bond/Stable Value Inv |
Stable Value |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
METLIFE FIXED-OLD
Inception Date 09/30/2001 |
Bond/Stable Value Inv |
Stable Value |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
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 500 INDEX
Inception Date 02/17/1988 |
Stock Investments |
Large Blend |
-7.71% |
12.14% |
9.81% |
12.24% |
10.31% |
-2.29% |
3.85% |
02/28/2023 |
|
FID EXTD MKT IDX
Inception Date 11/05/1997 |
Stock Investments |
Mid Blend |
-10.77% |
9.20% |
6.81% |
9.72% |
7.98% |
1.91% |
0.97% |
02/28/2023 |
|
FID TOTAL INTL IDX
Inception Date 06/07/2016 |
Stock Investments |
Intl/Global |
-7.36% |
5.21% |
1.75% |
-- |
5.12% |
1.69% |
3.25% |
02/28/2023 |
|
FID INFL PR BD IDX
Inception Date 05/16/2012 |
Bond/Stable Value Inv |
Bond |
-10.51% |
0.21% |
2.50% |
1.16% |
1.34% |
-0.60% |
3.33% |
02/28/2023 |
|
FID US BOND IDX
Inception Date 03/08/1990 |
Bond/Stable Value Inv |
Bond |
-9.68% |
-3.77% |
0.51% |
1.08% |
5.08% |
-0.10% |
3.50% |
02/28/2023 |
When and Why:
Additional investment options for the investor who prefers a more hands-on approach to retirement planning and is willing to take on more risk.
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 |
|||
|
MFS VALUE R6
Inception Date 01/02/1996 |
Stock Investments |
Large Value |
-0.83% |
10.83% |
7.45% |
10.33% |
9.95% |
-4.28% |
-4.77% |
02/28/2023 |
|
FID CONTRAFUND K6
Inception Date 05/25/2017 |
Stock Investments |
Large Growth |
-12.21% |
9.10% |
8.37% |
-- |
10.91% |
-0.66% |
7.93% |
02/28/2023 |
|
FID LOW PRICED STK K
Inception Date 12/27/1989 |
Stock Investments |
Mid Value |
0.16% |
14.94% |
8.27% |
10.33% |
12.98% |
-0.21% |
-1.95% |
02/28/2023 |
|
ABF SM CAP VAL R5
Inception Date 12/31/1998 |
Stock Investments |
Small Value |
2.08% |
16.50% |
7.47% |
9.39% |
9.99% |
1.94% |
-2.14% |
02/28/2023 |
|
MM SM CAP GRTH EQ I
Inception Date 05/03/1999 |
Stock Investments |
Small Growth |
-9.94% |
9.81% |
9.35% |
11.66% |
8.73% |
-0.12% |
0.32% |
02/28/2023 |
|
FID DIVERSFD INTL K6
Inception Date 05/25/2017 |
Stock Investments |
Intl/Global |
-8.10% |
5.63% |
3.82% |
-- |
4.74% |
1.90% |
5.03% |
02/28/2023 |
|
FID WORLDWIDE
Inception Date 05/30/1990 |
Stock Investments |
Intl/Global |
-11.51% |
8.39% |
7.22% |
9.49% |
8.07% |
-0.94% |
3.22% |
02/28/2023 |
|
DFA EMRG MKT CORE EQ
Inception Date 04/05/2005 |
Stock Investments |
Intl/Glbl - Emerg Mkt |
-12.02% |
5.08% |
-0.10% |
2.49% |
6.40% |
0.18% |
3.53% |
02/28/2023 |
|
FID REAL ESTATE INVS
Inception Date 11/17/1986 |
Stock Investments |
Specialty |
-9.72% |
3.60% |
6.81% |
6.51% |
9.40% |
-0.81% |
-2.09% |
02/28/2023 |
|
PGIM TOTAL RTN BD R6
Inception Date 01/10/1995 |
Bond/Stable Value Inv |
Bond |
-10.04% |
-3.94% |
0.80% |
1.89% |
5.09% |
0.94% |
3.43% |
02/28/2023 |
|
FID GOVT MMKT K6
Inception Date 02/05/1990 7 day yield % as of 02/28/2023: 4.39 ** 7 day restated yield % as of 02/28/2023: 4.35 *** |
Short-Term Investments |
N/A |
2.12% |
0.73% |
1.18% |
0.66% |
2.57% |
1.01% |
0.98% |
02/28/2023 |
Learn the plan basics - including eligibility - of each retirement savings plan offered by your employer.
Salaried faculty members and eligible non-faculty professionals or administrators may elect to participate in the VCU Optional Retirement Plan (ORP).
For individuals who joined the plan and have an ORP or VRS balance prior to July 1, 2010, VCU will contribute an amount equal to 10.4% of their salary to the VCU ORP.
Employees hired on or after July 1, 2010, with no previous ORP or VRS account, contribute 5% of their salary and VCU will contribute an amount equal to 8.5% of their salary into the VCU ORP.
You have 60 days from your date of hire in a faculty position to enroll in the VCU ORP. If you do not enroll in the VCU ORP within 60 days, you will be enrolled in the Virginia Retirement System (VRS) and will no longer be eligible to participate in the VCU ORP. Your enrollment responsibility is to choose your vendor and investment options.
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.
Fidelity's Online Beneficiaries Service, available through NetBenefits® offers a straightforward, convenient process that takes just minutes.
Go to 'Profile' in the navigation bar at the top of your NetBenefits® page and click on the 'Summary tab' and then 'Beneficiaries'.
You are generally allowed to withdraw money from your plan when you leave employment with the Commonwealth of Virginia, retire, or become permanently disabled. Withdrawals may be subject to income taxes and, if they occur prior to you becoming age 59½, a 10% early withdrawal tax penalty.
If you are requesting a distribution from the VCU ORP, you are required to submit a VRS-65D form and return the completed form to the VCU Benefits Office.
For more information, call the Fidelity Retirement Services Center at 800-343-0860.
Note: The taxable portion of your withdrawal that is eligible for rollover into an individual retirement account (IRA) or another employer's retirement plan is subject to 20% mandatory federal income tax withholding, unless it is directly rolled over to an IRA or another employer plan. (You may owe more or less when you file your income taxes.) If you are under age 59½, the taxable portion of your withdrawal is also subject to a 10% early withdrawal penalty, unless you qualify for an exception to this rule. The plan document and current tax laws and regulations will govern in case of a discrepancy. Be sure you understand the tax consequences and your plan's rules for distributions before you initiate a distribution. You may want to consult your tax advisor about your situation.
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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