Rollins College Retirement Plan
Transition Infosessions
January 2020
Agenda
HOW DID WE GET HERE?
WHAT’S NEXT?HOW DOES THIS IMPACT YOU?
MEET VOYA
Matt Hawks*AVP, HR and Risk Management
Sharon Agee Instructor of Accounting, CLA
Sharon CarnahanExecutive Director, CDC & Student Research Center and Professor of Psychology
Steve BookerAVP & Director, Financial Aid
Halil KiymazProfessor, Crummer
Ed Kania*Vice President and Treasurer
Maria MartinezRetired Staff Representative
Deborah ProsserDirector, Olin Library
J. Clay Singleton Retired Faculty Representative
Jay ZajanProperty Accountant, Finance
Lauren Mickler*Asst. Director Benefits & Wellbeing
*Ex-Officio
Rick Harris*Principal,Cerity Partners
Jennifer Addleman* Director, Benefits & Wellbeing
Retirement Plan Advisory Committee
How did we get here?November 2018
• Fiduciary best practice• Performance• Survey• Request for Information
(RFI)
REVIEW OF CURRENT PLAN RECORDKEEPER
July 2019
• 7 proposals• 3 finalists (AIG, TIAA,
Voya)• Voya site visit • Unanimous choice - Voya
RFP FOR PLAN RECORDKEEPER
December 2019
• Implementation kick off• Plan analysis• Communications strategy • Information sessions
IMPLEMENTATION OF NEW RECORDKEEPER
• Open investment platform to accommodate Rollins fund line up
• Minimize conflict of interest• Reasonable fees and expenses• Exceptional plan sponsor administrative services • Excellent service and education provided to plan
participants• Strong record keeping and compliance practices
RFP KEY CRITERIA
How will this change impact you?What’s staying
the same?Rollins Retirement Plan
and Plan rules
Oversight by Rollins Retirement Plan Advisory Committee
Rollins contributions (7% + 4.5% match)
Rollins Retirement Plan funds
Expectation of high quality education and service
Monthly opportunity for one-on-ones
What’s changing?
Plan recordkeeper to Voya
Upgraded model portfolios
New participant web portal with enhanced features
New customer service phone number
Enhanced on-site advisor services
Reduced Plan fees
What funds are available in the Plan?DOMESTIC EQUITY
Large Cap Value Vanguard Value IndexVanguard Windsor II
Large Cap Blend Vanguard Total Stock Market IndexOppenheimer (Invesco) Main Street I
Large Cap Growth Vanguard Growth Index T. Rowe Price Growth Stock
Small Cap Value Vanguard Small Cap Value IndexAmerican Beacon Small Cap Value - Inst
Small Cap Blend Vanguard Small Cap Index DFA U.S. Small Cap
Small Cap Growth Vanguard Small Cap Growth IndexClearBridget Small Cap Growth
INTERNATIONAL EQUITY
Foreign Large Blend
Vanguard Developed Markets IndexFederated International Leaders R6
Diversified Emerging Markets
Vanguard Emerging Markets Stock Index Driehaus Emerging Markets Growth
ALTERNATIVES
Global Real Estate DFA Global Real Estate Sec I
FIXED INCOME
Long Term Bond Vanguard Long-Term Treasury Delaware Extended Duration Bond
Short Term Bond Wells Fargo Short Duration Gov BondPrudential (PGIM) Short-Term Corp Bond
Inflation Protected Bond Vanguard Inflation Protected Securities
CASH EQUIVALENT
Stable Value Standard Stable Asset Fund II
ESG/SRI
Large Cap Blend Parnassus Equity Income – Inst
Short Term Bond Calvert Short Duration Income
SELF-DIRECTED OPTION
Schwab Self-Directed Brokerage Account
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The Rollins College Retirement Plan Transition
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Our Mission – Simple and Clear
To make a secure financial future possible –one person, one family, one institution at a time
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Digital solutions- Data includes retirement plan sponsored business as of 12/31/2018, 7.1% vs. 9.0%
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1 Centers for Disease Control and Prevention, Prevalence of Disabilities and Health Care Access by Disability Status and Type Among Adults – United States, Morb. Mortal Weekly Report, 2016. 2 U.S. Department of Health and Human Services. Caregiver Resources & Long-Term Care, 2017. 3 U.S. Census Bureau data and respondents’ self-identification, 2016. 4 National Alliance for Caregiving and AARP: Caregiving in the U.S., 2015 5 Transamerica Institute’s Inaugural Study of Caregivers, September 2017. 5 Age Wave/Merrill Lynch. The Journey of Caregiving: Honor, Responsibility and Financial Complexity. (2017). 6 Transamerica Institute’s Inaugural Study of Caregivers, September 2017. 7 Family Caregiver Alliance: Caregiver Statistics: Work and Caregiving, 2016.
21% of caregivershave taken a loan, hardship and/or early withdrawal from retirement accounts.5
Family caregivers spend up to32 hoursper week coordinating care.5
105 millionpeople have friends and family with disabilities3
Only 56% of caregiversspeak to their supervisors abouttheir responsibilities4
9 out of 10 caregiversreceive little or no financial support7
1 in 5 Americans– nearly 66 million - assist with caregiving2
an estimated 61.4 million people — report having a disability1
Americans
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Behavioral finance research
Data security and usage
Alignment of interests
52 yearsExperience
1,508Higher Education plans
27 yearsAverage higher education client tenure
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Your Voya Team
Kellie DesrosiersStrategic Relationship Manager
Eddie CorbettOn-site Education Advisor
Keista RansomOn-site Education Team
Maria WilderOn-site Education Team
Vern and Val VoyaFox Day Consultants
Participant ServicesCall Center
Customer Care SpecialistsAccount Consolidation Team
Cheryl Fetzner, Rollover Specialist
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Eddie CorbettLocal On-site Advisor
Winter Park Office
Personal service throughout the year
Group Education Meetings and Ability to Schedule One-on-One Meetings
on Campus and at our Local Office
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Tools at your fingertipsCustom Retirement Plan Web site and Toll-Free Line
• Plan updates and important messages
• Schedule advisor appointments
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Tools at your fingertips
• Estimated Income in Retirement• Social Security Benefits modeling
Important: The illustrations or other information generated by the calculators are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. This information does not serve, either directly or indirectly, as legal, financial or tax advice and you should always consult a qualified professional legal, financial and/or tax advisor when making decisions related to your individual situation.
Transactional Mobile Web Site
• In-Plan Advice – Online and Toll-Free Access• Healthcare in Retirement Expense Modeling
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Milestones
STRATEGY & IMPLEMENTATIONLINE
ONGOING SUPPORT & EDUCATIONLINE
• Monthly on-site advisor meetings• Voya Learn: online on-demand training sessions• Text messaging• eStatements
• Call Center available for general questions: April• Transamerica assets transfer: May• Call Center available for plan questions: May• Website tools available: May• On-site advisor support: May
DECISION & ANNOUNCEMENTLINE
TRANSITION & GO LIVELINE
• Committee decision: December• Notification to Voya & Transamerica: December• Announcement to faculty, staff, retirees &
terminated employees: December
• Implementation kick-off: December• Information sessions: January 27/28• Benefits Expo: February 6• Transition Newsletter: April• On-site meetings: April
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We are excited about our new partnership!
Fiat Lux