Fund and Share Class Changes
Effective Market Close on March 11, 2022
In a continual effort to assist you in meeting your retirement goals, the Colorado Retirement Association Board of Directors worked with Innovest Portfolio Solutions LLC to make the following changes to the investment options available in the CRA 401(a) and 457(b) Plans.
Style & Objective
|Fidelity 500 Index (FXAIX)||Yes||Lowering Fees from 0.02% to 0.015%|
|Fidelity Mid Cap Index (FSMDX)||Yes||Lowering Fees from 0.04% to 0.025%|
|Fidelity Small Cap Index (FSSNX)||Yes||Lowering Fees from 0.04% to 0.025%|
|Yes||Lowering Fees from 0.65% to 0.50%1|
1 Fidelity lowered the fees from 0.78% to 0.65% on FLPSX in the fourth quarter of 2021.
While not completely identical, both Fidelity and Vanguard seek to track similar indices as closely as possible, so each fund will generally provide performance similar to the index they follow. These similar approaches present a unique opportunity to reduce fund expenses while not materially changing the investment style.
What Should You Do?
- No action is required. Effective Market Close on March 11, 2022, your current account balance in and all future contributions to the “Old Investment Option” will be automatically transferred to the corresponding “New Investment Option,” as shown above.
- Contact CRA at 800.352.0313 or online at www.cra‐online.org to check your account balance or redirect your current account balances and future contributions into any of the investment options available within the Plan.
Information for this notice was provided by CRA’s Investment Advisor, Innovest Portfolio Solutions.
Innovest is a Registered Investment Adviser registered with the US Securities and Exchange Commission. Unless explicitly stated to the contrary, the material herein is not intended to provide and should not be relied on for investment advice. Under no circumstances are we ever providing tax, accounting or legal advice. Past performance is no guarantee of future results. Investing involves the risk of loss. This document may contain returns and valuations from outside sources. While the information contained herein is believed to be true and accurate, Innovest assumes no responsibility for the accuracy of these valuations or return methodologies.