UNC Fund Notice

The University of North Carolina (UNC) System is committed to periodically reviewing its retirement programs to make sure they continue to help you meet your retirement and financial goals. Among the things considered are the investment options available through the plans and the investment option performance and value. Effective February 1, 2025, employees who participate in The Optional Retirement Plan of the University of North Carolina (“ORP”), the UNC 403(b) Plan, the UNC 457(b) Plan, the Senior Administrative Officer Retirement Program of UNC (“SAORP”), the Senior Athletic Employee Retirement Program of UNC (“SAERP”), and any corresponding UNC Qualified Governmental Excess Benefit Arrangements (“415(m) plans”) will see a reduction in the expense ratio of several trusts and mutual funds offered by Vanguard. These changes also have an impact on the pricing of UNC Target Date Model portfolios. An expense ratio reflects how much of a fund’s assets are used for administrative or other operating expenses. The purpose of this memo is to inform you of these changes. You do not need to take action to take advantage of the lower fees.
 
Click on the link to read more:  UNC Fund Notice Link