Following are some more questions and answers about changes in MIT's retirement plans.
When will information on the additional investment options be available?
Employees currently have three investment options: the Variable Fund, the Fixed Fund and the Money Market Fund. Additional options will be available in late spring. The Benefits Office will send out information on the new investment options in late March and will sponsor educational seminars on the investment options.
Can my Fixed Fund account balance both increase and decrease?
In the past, the Fixed Fund maintained relatively stable performance by spreading its gains and losses out over five years. As of January 1, 1999, the Fixed Fund is valued monthly based on the actual market performance of its underlying investments. Although members will see more fluctuations in their monthly Fixed Fund account balances, the fund will continue to be a balanced fund with 75 percent of the fund invested in bonds and 25 percent of the fund invested in stocks.ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½
How can I find out how much I have in the 401(k) plan?
The 1998 Retirement Plan Statement of Benefits will be mailed to members of the Plan by early March 1999. After May 1, employees can look forward to receiving 401(k) Plan statements quarterly, instead of annually. Statements of Benefits in the MIT Basic Plan will continue to be distributed annually.
A version of this article appeared in MIT Tech Talk on February 24, 1999.