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APPROVAL OF THE OPTIONAL RETIREMENT PLAN
 
 
 
 
 
 
 
 
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APPROVAL OF THE OPTIONAL RETIREMENT PLAN

The following resolution was adopted:

  • WHEREAS, the Teachers Insurance Annuity Association and the College Retirement Equities Fund (TIAA/CREF) and the Virginia Retirement System (VRS) are the providers of retirement plans available to the University of Virginia faculty; and
  • WHEREAS, the TIAA/CREF plan is a defined contribution plan and the VRS is a defined benefit plan; and
  • WHEREAS, the Commonwealth of Virginia has identified five companies, in addition to TIAA/CREF, as potential defined contribution retirement plan carriers; and
  • WHEREAS, it is recommended that all five additional carriers be added to the University of Virginia's retirement plan offerings;
  • NOW THEREFORE BE IT RESOLVED that Fidelity Investments Institutional Services, Great-West Life Assurance Company, Metropolitan Life Insurance Company/Metlife Resources, T. Rowe Price and Associates, and Variable Annuity Life Insurance Company (VALIC), be and they are hereby added to the University of Virginia retirement plan effective June 1, 1991.