Investments

OPERS and STRS Investment Information

The following information relates to the Alternative Retirement Plan (ARP), Supplemental Retirement Plans (403(b) and 457(b)) and Executive Retirement Continuation Plan (RCP/415(m)). OPERS investments and STRS investments can be found on their respective websites.

The university offers an array of retirement options, overseen by the Retirement Oversight Committee (ROC), to help you meet your financial goals. While OPERS and STRS manage investment offerings for the state retirement plans, the ROC makes recommendations to the chief human resources officer on administrative and investment decisions for university-sponsored plans.

You may also review University-Sponsored Retirement Plans: Understanding Your Investment Choices that was presented during our virtual retirement fair.

Investment Options

You have a range of investments available to you within the plans. The investment options are separated into three tiers to help you choose a strategy that works best for you.

The investments in Tiers 1 and 2 were carefully chosen by the ROC and are regularly monitored for their ongoing viability. Neither Ohio State nor the ROC monitors the investment options offered in Tier 3.

Things you should know:

  • You can choose funds in as many or as few tiers as you wish.
    • You could invest in a single target date fund or create your own diversified investment portfolio from the core investment options or through a self-directed brokerage account.
  • You may change your investment elections/tiers at any time.
  • Except for the fixed annuity options, the investment options available in Tiers 1 and 2 are the same across each of the providers and plans.
  • You are responsible for selecting and monitoring your investments in Tier 3.

Tier 1, Do It for Me Investment Options

Purpose

To provide a simple path for participants who don’t have the time, interest, or knowledge to make their own asset allocation decisions. For more information on how target date funds operate, please visit Vanguard’s Target-Date Fund Glide Path.

Target Investor

Ideally suited for participants who:

  • Feel ill equipped to make asset allocation decisions.
  • Desire to select from a series of professionally managed asset allocation funds that reflect varying levels of risk.

Considerations

  • The funds in Tier 1 were carefully chosen and are regularly monitored for their ongoing viability by the Retirement Oversight Committee (ROC).
  • The “target date” is the year stated in the fund name and assumes retirement at age 65.
  • As individuals get closer to their retirement age, the asset allocation becomes more conservative to preserve wealth.
  • These funds have a “all-in-one” strategy.
Tier 1 Investment Options and Fee Analysis (as of 3/31/24)
Fund Name Vehicle Type Ticker Symbol Total Expense Ratio
Vanguard Target Retirement Income Fund – Investor Mutual Fund VTINX 0.08%
Vanguard Target Retirement 2020 Fund – Investor Mutual Fund VTWNX 0.08%
Vanguard Target Retirement 2025 Fund – Investor Mutual Fund VTTVX 0.08%
Vanguard Target Retirement 2030 Fund – Investor Mutual Fund VTHRX 0.08%
Vanguard Target Retirement 2035 Fund – Investor Mutual Fund VTTHX 0.08%
Vanguard Target Retirement 2040 Fund – Investor Mutual Fund VFORX 0.08%
Vanguard Target Retirement 2045 Fund – Investor Mutual Fund VTIVX 0.08%
Vanguard Target Retirement 2050 Fund – Investor Mutual Fund VFIFX 0.08%
Vanguard Target Retirement 2055 Fund – Investor Mutual Fund VFFVX 0.08%
Vanguard Target Retirement 2060 Fund – Investor Mutual Fund VTTSX 0.08%
Vanguard Target Retirement 2065 Fund – Investor Mutual Fund VLXVX 0.08%
Vanguard Target Retirement 2070 Fund – Investor Mutual Fund VSVNX 0.08%

Tier 2, Build Your Own Investment Options

Purpose

To provide a diversified set of investment options across the major asset classes that allow participants to create portfolios that span the risk/return spectrum.

Target Investor

Ideally suited for participants who:

  • Are comfortable creating their own portfolios and making their own asset allocation decisions.
  • Seek to prevent investment loss in their portfolio.

Considerations

  • The funds in Tier 2 were carefully chosen and are regularly monitored for their ongoing viability by the Retirement Oversight Committee (ROC).
  • Funds leverage economies of scale afforded by the size of Ohio State’s defined contribution plans to reduce costs for investors.
Tier 2 Investment Options and Fee Analysis (as of 3/31/24)
Fund Name Intends to Mirror Vehicle Type Ticker Symbol Total Expense Ratio
Vanguard Cash Reserves Federal Money Market Fund Admiral – Mutual Fund VMRXX 0.100%
Vanguard Total Bond Market Index Fund – Institutional – Mutual Fund VBTIX 0.035%
Vanguard Institutional Index – Institutional Plus S&P 500 Index Mutual Fund VIIIX 0.020%
Vanguard Extended Market Index Fund – Institutional S&P Completion Index Mutual Fund VIEIX 0.050%
Vanguard Total International Stock Index Fund – Institutional MSCI ACWI ex-U.S. IMI Index Mutual Fund VTSNX 0.090%
Corebridge – Fixed Interest Option – Fixed Annuity N/A –
Fidelity – New York Life Guaranteed Interest Account – Fixed Annuity N/A –
TIAA – TIAA Traditional – Fixed Annuity N/A –
Voya – Voya Fixed Plus III – Fixed Annuity N/A –
*Unlike other financial products, guaranteed fixed annuities do not have an expense ratio; fees are deducted automatically from the gross crediting rate to arrive at the net crediting rate.

Tier 3, Experienced Investor Investment Options

Purpose

To provide participants with additional opportunities to invest in a wide range of mutual funds outside of the Plans’ investment lineup.

Target Investor

Ideally suited for participants who:

  • Are comfortable creating their own portfolios and making their own asset allocation decisions.
  • Seek more concentrated holdings (e.g., sector funds).

Considerations

  • The ROC neither monitors the investments nor negotiates the total expense ratios in Tier 3.
  • You may incur additional fees, including annual account maintenance fees or transaction costs for trades.

A self-directed brokerage account offers expanded choice and flexibility, but it also comes with additional responsibility and risk. You may also incur additional fees, including an annual account maintenance fee or transaction fees for trades. Additionally, the total expense ratio may be higher in some cases.

Tier 3 Investment Providers and Fee Analysis
Provider Self-Directed Brokerage Account Brokerage account maintenance fee
Corebridge Financial Schwab Personal Choice Retirement Account (PCRA) $50
Fidelity BrokerageLink –
TIAA TIAA Brokerage –
Voya Schwab Personal Choice Retirement Account (PCRA) $50

Investment Performance Reports

When selecting investments, it is helpful to review and understand how the funds have performed historically.

You may also want to review the benchmark descriptions which describe what the investment returns are compared to in order to measure performance.

Please contact your provider for information on the performance of the investment options available through Tier 3.