Voya has announced changes that will impact the State of Michigan 401(k) and 457 Plans (the Plans). Effective July 31, 2017, three funds will be removed as investment options under the Plans and new funds will be added to the line-up.
Transfers out of the closing funds must be complete by market close on July 28th or balances will automatically transfer to an alternative fund in the plan.
Also effective July 31, 2017, the name of the RidgeWorth Ceredex Small Cap Equity Fund will become Virtus Ceredex Small-Cap Value Equity Fund. This is a name change only.
All of these fund changes are part of the core plan options under the Plans. Mainstay utilizes the Brokerage Link option available to State of Michigan plan participants. To discuss these changes to the State of Michigan 401(k) and 457 plan, do not hesitate to contact us toll-free at 1-866-444-6246.