SUNY 403(b) Authorized Investment Providers

SUNY 403(b) Authorized Investment Providers

The SUNY Voluntary 403(b) Savings Plan currently offers employees a choice of four different Investment Providers offering annuity* investment products (TIAA, Voya, and VALIC) and one Investment Provider offering 403(b)(7) mutual fund** investment products (Fidelity). 

Participants in the SUNY Voluntary 403(b) Savings Program may invest with any one or a combination of the currently Authorized Investment Providers, subject to IRS limits.

In order to enroll in the SUNY Voluntary Savings 403(b) Program, you will need to complete a Salary Reduction Agreement form and return it to your campus Benefits or Payroll Office. 

You will also need to complete an enrollment application form from the Investment Provider(s) you wish to work with.  Please contact the Investment Provider listed below directly to enroll or with any specific questions about their products or services.
 

Please visit here for summaries of fund investment performance.  Click here for information about fees, and contact your investment provider(s) for more information.

*  A variable annuity contract is a hybrid investment containing both securities and insurance features. The securities feature of variable annuities provides investors with the opportunity to participate in potential capital appreciation and income through investments in the securities markets. These securities features will, however, subject the investor to market risks. The insurance features of variable annuities permit employees to “annuitize” their contracts, electing to receive a lifetime income option so that they are guaranteed a stream of income payments that they cannot outlive, much as with a pension from ERS or TRS. In exchange for this lifetime income option, however, variable annuities have an extra set of fees, known as Mortality and Expense (M&E) charges that given them higher annual operating expenses than mutual funds. Many annuities are actually funded by underlying mutual funds, which are “wrapped” into an annuity product to give employees access to a broader range of funds while still preserving the lifetime income option protection that annuities afford.

**  A mutual fund is a financial intermediary that allows a group of investors with predetermined investment objectives to pool their money together. By pooling money together in a mutual fund, investors can purchase stocks or bonds with much lower trading costs than if they could achieve on their own. Mutual funds have fund managers who are responsible for investing the pooled money into specific securities (usually stocks or bonds). When employees invest in mutual funds they are buying shares of these funds, becoming a shareholder of funds in which they invest. Mutual funds are very cost efficient and a very easy way for employees to invest in since they do not have to figure out which stocks or bonds to buy. Mutual funds also allow an individual investor to achieve much greater diversification than they ever could through the purchase of individual stocks or bonds.

 

For further information and/or assistance, please contact the Benefits Office at your State-Operated College or Community College campus.