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Target Retirement Funds
Target retirement funds are used as your default investment option. They are for investors seeking automatic asset allocation — just choose one fund geared to the year you anticipate retiring or withdrawing money from your account to ensure a well diversified investment mix for years to come.
These funds offer instant diversification by providing a mix of stocks, bonds, and cash equivalents. Each fund adjusts the mix of stocks, bonds, and cash equivalents over time, becoming more conservative as the fund nears its target retirement date.
Core Investment Options
You may also choose to invest in core investment funds which allow you to choose how your funds are invested. These investment options include index funds and actively managed fund options and cover stocks, bonds, and cash equivalents.
Before investing, carefully review all investment information. More information on each investment option, including fund fact sheets, is available by logging in to your retirement investment account or by calling 800-748-6128.
The Self-Directed Brokerage Account (SDBA)
The SDBA is a brokerage account that gives you access to most individual stocks, bonds, certificates of deposit (CDs), exchange-traded funds (ETFs), and more than 10,000 different mutual funds (all for an additional fee and at your own risk). Log into your retirement investment account online for details and an SDBA application if you wish to take advantage of this option.
Changing your investment elections
To change the way your current or future contributions are allocated among the various investment options, log into your retirement investment account online or call Voya Finanical® at 800-748-6128.
Trading restrictions and redemption fees
Frequent trading and attempting to time the market is discouraged. Before you can transfer money from the Stable Value Fund into the State Street Yield Enhanced STIF, or the SDBA, you must first transfer the money into another core investment option and keep it there for 90 days. Once the 90-day period is over, you may transfer the money into any fund or the SDBA. Some funds may enforce trading restrictions and/or redemption fees, including those in the SDBA. You should always read the fund fact sheets carefully before investing. You can find fund fact sheets when you log into your retirement investment account.
As of this printing, the following funds impose trading restrictions: American Funds imposes trading restrictions on its EuroPacific Growth Fund. If an investor transfers $5,000 or more out of the fund, he or she must wait a period of 30 days before transferring $5,000 or more back into the fund. Transfers of less than $5,000 into the fund during the 30-day period will be accepted.
All Pension Plus plan participants pay a fee of $9.50 per quarter which covers the costs of administering the plan. The fee is charged at the beginning of each quarter and shown on your account statement. In addition, there are fees associated with each investment offering. You can find the current fees online (access your retirement investment account). You will also receive a report on these fees with your account statement.
* Advisory Services provided by Voya Financial Advisors, Inc., member SIPC (VFA). For more information, please read the Voya Financial Advisors Disclosure Statement, Advisory Services Agreement and your plan's Fact Sheet. These documents may be viewed online by accessing the advisory services link(s) through your plan's web site. You may also request these from a Voya Investment Advisor Representative by calling your plan's information line at 800-748-6128. Financial Engines Advisors LLC acts as a sub advisor for Voya Financial Advisors, Inc. Financial Engines Advisors®, LLC (FEA) is a federally registered investment advisor and wholly owned subsidiary of Financial Engines, Inc. Neither VFA nor FEA provides tax or legal advice. If you need tax advice, consult your accountant or if you need legal advice consult your lawyer. Voya Financial Advisors does not guarantee results and past performance is no guarantee of future results.
** A charge of 2.5 basis points per month on an account balance of $10,000 equals $2.50 per month, (0.00025 times $10,000).