December 18, 2009
e-newsletter of the Church Benefits Board
CBB announces lower basis points, more investor savings for 2010
The Church Benefits Board is pleased to announce that the retirement funds invested in the Cooperative Baptist Fellowship’s 403(b) have grown to the point of qualifying for a higher level of institutional pricing, resulting in a reduction of expenses charged by the funds. This growth means expense savings as much as 40 basis points within mutual fund investments in the coming year.
This saving is a direct result of the open architecture design of the CBF 403(b) plan design created and administered by the CBB. As participation in institutional mutual funds like Vanguard and others increases, the cost-savings achieved will help participant investors make the most out of their retirement funds. Click here for more information about the fund changes.
New IRS Regulations for 2010
CBB has mailed each employer a notice regarding IRS changes for 2010. In most cases, CBB (or other retirement plan provider) has taken the new regulations into account for participating employers.
Plans that use CBB as their sole provider will see minimal impact from this new regulation. To access the information on the new IRS regulations for 2010, click here.
December 15, 2009
CBB announces Retirement Investment Option Changes Effective January 4, 2010
The Church Benefit Board regularly monitors the Cooperative Baptist Fellowship's 403(b) plan investment options. After a recent review, the decision was made to exchange the plan’s Vanguard investments funds. These changes outlined below will take place on or about January 4, 2010.
Investment Options to be exchanged
Four investment options will be added. The following investment options will be available in the plan January 4, 2010:
FUND TICKER CATEGORY
Vanguard 500 Index Signal VIFSX Large Cap Blend
Vanguard Balanced Index Signal VBASX Moderate
Vanguard Short-Term Investment Grade Admiral VFSUX Short-Term Bond
Vanguard Windsor II Admiral VWNAX Large Cap Value
Investment Options to be removed. Assets invested in these funds will be automatically transferred to the corresponding replacement funds added above.
FUND TICKER CATEGORY
Vanguard 500 Index Investor VFINX Large Cap Blend
Vanguard Balance Index VBINX Moderate
Vanguard Short-Term investment-Grade VFSTX Short-Term Bond
Vanguard Windsor II VWNFX Larger Cap Value
We believe that for many reasons these changes will improve the investment line-up of the plan for the benefit of our participants. However, we wish to emphasize that past history is no guarantee of future performance.
Do I need to take action?
You are not required to take any action. However, if you want to make some changes to your account or invest in the new options, you may:
• change your investment directives to ensure that future contributions are invested in the investment option of your choice
• transfer any balance in one investment option to another option of your choice
These changes can be made using either:
• INFOLINE at (800) 858-5420
• Personal Savings Center website at http://retirement.standard.com.