Beginning 1/1/09, the Vermont State 403(b) Investment Program is the sole investment provider of the CCSU Tax-Sheltered Annuity Plan (otherwise known as the 403(b) Plan). The Vermont State 403(b) Investment Program is overseen by the Vermont State Teachers Retirement System (VSTRS), and will be administered through Great West Retirement.

As the exclusive provider of our 403(b) Plan, The VSTRS 403(b) Program was able to meet the requirements of our Plan and provide the necessary services to ensure compliance with the new IRS Code regulations. In addition, the VSTRS 403(b) Program provides the following:

• Optional Investment Advisory Services to our employees, allowing the employee to select the level of service s/he desires.
• Optional access to a self-directed brokerage account, allowing employees to select from numerous (over 1,000) mutual funds.
• Extremely low and transparent administrative fees that are possible as a result of the size of the participant group. (Rates we would be unable to negotiate on our own due to our limited size.)
• Guaranteed level of service, including on-site consultation services and live phone consultations.
• Investment fund line-up regularly monitored and reviewed by the Vermont State Teachers’ Retirement Board.

Click here for more information related to this program, or view the Great -West Retirement Services® Presentation.

Content

• Investment Options
• Fees
• Investment Guidance/Advice
• Forms
• Transfers
• Contact Information

What investment options are available?

The Vermont State Teachers’ Retirement Board (VSTRB) conducted a thorough search of investment options to include in the 403(b) Program. In selecting the investment options, VSTRB sought to provide participants with a broad variety of asset classes with the lowest possible fees. Below is the resulting combination of index funds and target date allocation funds. A link to additional information related to these funds has been provided below. For a summary of fund performance and fees as of 10/31/08, please click here:

T Rowe Price (Profile Series)

• T Rowe Price Retirement Income Fund
• T Rowe Price Retirement 2010 Fund
• T Rowe Price Retirement 2020 Fund
• T Rowe Price Retirement 2030 Fund
• T Rowe Price Retirement 2040 Fund

Vanguard (Index Funds)

• Vanguard International Stock Index Fund
• Vanguard Small Cap Index Fund
• Vanguard Mid Cap Index Fund
• Vanguard Institutional Index Fund (Large Cap)
• Vanguard Total Bond Market Index Fund

Great West (Fixed Account)

• Great West Portfolio Fund

In addition to the funds listed above, the VSTRS 403(b) Program also provides access to an optional Self-Directed Brokerage Account (SDBA) offered through Charles Schwab, allowing employees to select from numerous mutual funds for an additional fee or fees.

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What fees will be charged to participants?

Click here to see the charts outlining the fees related the services provided under the program.

Will assistance be available to help me make my investment selection(s)?

For assistance with investment selections under the VSTRS 403(b) Program, Great-West, in collaboration with Advised Assets Group, provides Reality Investing® to provide you with the level of assistance necessary to meet your needs. With Reality Investing®, employees have three optional investment advisory services available as follows:

• Investment Guidance (Reality Investing Guidance) – This service is free of charge and is geared towards the “Do-It-Myself” investor.

• Investment Advice (Reality Investing Advice) – The fee for this service is paid by the participant in accordance with the fee schedule outlined herein. This service is geared toward the “Help-Me-Do-It” investor.

• Managed Account Service (Reality Investing Managed Account) – The fee for this service is paid by the participant in accordance with the fee schedule outlined herein. This service is geared toward the “Do-It-For-Me” investor.

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Forms:

Below are links to the required and optional forms available for participation:

• Salary Reduction Agreement - REQUIRED – This form must be completed and returned to the Payroll Office in order to participate in the 403(b) Plan. Please be sure to complete ALL sections of the form and return with your Participant Enrollment Form (below).
• Participant Enrollment Form - REQUIRED – This form must be completed and returned to the Payroll Office in order to participate in the 403(b) Plan. Please be sure to complete ALL sections of the form and return with your Salary Reduction Agreement (above).
• Beneficiary Designation Form - OPTIONAL – This form is only needed if you have more than two primary beneficiaries or more than two secondary beneficiaries. If needed, please be sure to complete and return to the Payroll Office with your Salary Reduction Agreement and Participant Enrollment Form.
• Incoming Transfer/Direct Rollover form - OPTIONAL – This form will need to be completed and submitted directly to Great-West Retirement Services® if you choose to transfer your existing 403(b) Plan money into the VT State 403(b) Investment Program.
• Voluntary 403(b) Participant Suitability Profile - OPTIONAL – This form only needs to be completed if you schedule a one-on-one meeting with the Great-West Retirement Services®’ local representative. If a meeting is scheduled, please be sure to bring this completed form with you to the meeting.

What happens to the money held with my previous provider?

If you hold a 403(b) account with another provider, you may choose to keep your money with your previous provider or transfer your money to the VT State 403(b) Investment Program. Before transferring your money, please be sure to check with your current provider about any transfer restrictions and/or surrender penalties. If you wish to transfer your money from your current provider to the VSTRS 403(b) Program, you will need to complete an Incoming Transfer/Direct Rollover form. This form should be directly submitted to Great West Retirement Services. Your previous provider may also have a required form for you to complete. Please be sure to contact your previous provider for the necessary form(s).

Who do I contact for more information related to the VT State 403(b) Investment Program?

For additional information about the VSTRS 403(b) Program and their investment options, please contact Great-West Retirement Services® as follows. If you schedule a one-on-one meeting with our local representative, please bring a completed Voluntary 403(b) Participant Suitability Profile to the meeting, which will be used to help council you on investment allocations:

Local Representative:

Jonathan Smith

Phone: (802) 893-7473

E-mail: jonathan.smith@gwrs.com

Corporate Office:

Great-West Retirement Services®

P.O. Box 173764

Denver, CO 80217-3764

Phone #: 1-800-457-1028

Fax #: 1-866-745-5766

Website: www.gwrs.com

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Last updated: Sep 17 at 2:22 pm