Retirement
On this page:
Retirement Plan Enhancement Announcement
Overview
Wright State University will implement changes to its retirement plan vendor options for participants in the Alternative Retirement Plan (ARP), 403(b), and 457(b) plans, effective December 1, 2025. As part of this update, the number of available retirement plan vendors will be reduced. This change is designed to provide significant benefits to employees by lowering investment expenses and reducing fees charged to participants.
Key enhancements include a shift from an annuity-based platform to an open architecture mutual fund platform, offering greater scale and a more cost-effective model.
Why This Change is Happening
The driving factor for the change was legal guidance provided to the Ohio Inter-University Council (IUC) clarifying that State of Ohio law places fiduciary responsibilities on state universities for retirement plans they offer. These fiduciary duties require employers to take a more active role in oversight of retirement plan options.
Based on that guidance and fiduciary best practices, Wright State joined other IUC institutions to select an independent advisor to guide us through a process to meet the recommendations presented. After an IUC led RFP process, Cammack Retirement Group (merged with CAPTRUST in 2021), was selected to conduct a full review of our ARP, 403(b) and 457(b) retirement plans to meet our fiduciary responsibilities and best serve employees. The review set out to:
- Simplify the ability for employees to review and compare retirement plan vendor options and fees by:
- Establishing an appropriate amount of investment options available from each ARP, 403(b) and 457(b) plan vendor, and
- Reducing the number of vendors offering ARP, 403(b), and 457(b) plans.
- Negotiate improved (lower) investment expenses and fees charged to employees participating in the ARP, 403(b), and 457(b) plans, where possible.
- Establish an ongoing process to monitor fees and expenses charged to employees and monitor the performance of investment options.
- Establish a Retirement Plan Oversight Committee to partner with CAPTRUST to better position the university for fiduciary compliance.
In forming the Retirement Plan Oversight Committee, and aligning with best practice recommendations from IUC Advisor CAPTRUST, the university sought faculty and staff members with focused expertise in investments and retirement plan administration, and related experience in serving on similar committees for employers.
The Retirement Plan Oversight Committee members include:
- Burhan Kawosa, Vice President, Finance, Planning and Analysis
- Matt Ingram, Senior Lecturer, Finance and Financial Services, Raj Soin College of Business
- Emily Hamman, Vice President and Chief Human Resources Officer
- Monica Mack, Director of Benefits
- Sean Culley, Vice President of Legal Affairs & General Counsel
- Jessica Routley, Director of Internal Audit
- Elizabeth Ferris, Wright State University Board of Trustees
Continuing Approved Vendors
As part of this review and selection process guided by the IUC, CAPTRUST and the Ohio Revised Code, current ARP retirement plan vendors were provided the opportunity to submit proposals to continue to be a vendor at Wright State. Four current retirement plan vendors were selected to continue to provide ARP, 403(b), and 457(b) plan services at Wright State, and employees must choose from among these four continuing vendors starting December 1, 2025:
- Corebridge
- Fidelity
- TIAA
- Voya
Ohio Deferred Compensation will continue as an approved vendor; however, it will offer only the 457(b) plan.
These continuing vendors currently provide retirement plan services to 95% of ARP participants, 77% of 403(b) participants, and 100% of 457(b) participants.
If you currently have an ARP or 403(b) account with Equitable, please review the following key updates:
- Your existing account balance(s) with Equitable may remain invested there, or you may choose to transfer them to one of the four continuing vendors.
- Starting November 1, 2025 (for TIAA) or December 1, 2025 (for Corebride, Fidelity, and Voya), all new retirement plan contributions must be directed to one of the four continuing vendors. Equitable will no longer be an option for new contributions after this date.
- If a new vendor is not selected by November 28, 2025, Fidelity will be the default vendor for new contributions starting December 1, 2025.
Support from Continuing Vendors
Beginning in October and November (dates vary by vendor), the continuing retirement plan vendors will provide support to current ARP, 403(b), and 457(b) participants through the following:
- Distribution of transition guides
- Vendor-hosted information sessions
- Individual meetings with vendor representatives
These resources are designed to help employees to understand their retirement plan options, select appropriate investment choices and learn how to transition to one of the four continuing vendors (if applicable)
The State Teachers Retirement System (STRS), Ohio Public Employee Retirement System (OPERS) and Ohio Deferred Compensation are not impacted by this change.
Expanding 457(b) Retirement Plan to all Continuing Approved Vendors
Beginning January 1, 2026, the 457(b) retirement plan will be expanded to include all continuing approved vendors (Fidelity, Corebridge, TIAA, Voya, and Ohio Deferred Comp). This means employees will be able to contribute to the 457(b) plan through any of the continuing approved vendors, offering more flexibility and choice in managing retirement savings.
Adding Roth 403(b) and 457(b) Retirement Plans
Beginning January 1, 2026, both the existing 403(b) and 457(b) plans will include the option to make Roth after-tax contributions, in addition to the current pre-tax contribution option. All continuing approved vendors (Fidelity, Corebridge, TIAA, and Voya) will be offering the Roth option, providing consistent access to this feature regardless the selected vendor. This new option gives provides greater flexibility in planning for retirement, allowing participants to choose whether to pay taxes now (Roth), later (pre-tax), or to use a combination of both strategies.
Town Hall Meetings
CAPTRUST, the university’s retirement plan consultant, will facilitate a series of town hall meetings to discuss upcoming retirement plan changes and enhancements. These sessions are designed to help employees understand the transition.
|
Date |
Time |
Location |
|---|---|---|
|
October 2, 2025 |
9 a.m. |
120 Medical Sciences |
|
October 2, 2025 |
11 a.m. |
Unable to attend, watch the pre-recorded session here. (recording password: bPrbMgg3) |
|
October 3, 2025 |
9 a.m. & 11 a.m. |
120 Medical Sciences |
|
October 3, 2025 |
1 p.m. |
Unable to attend, watch the pre-recorded session here. (recording password: bPrbMgg3) |
Timelines and Resources for Continuing Vendors
Compare the following vendors using the Comparison of Plan Vendors PDF document.
corebridge
| Date/Time | Event |
|---|---|
| Week of October 6 | Individual meetings with Corebridge representative |
| October 8, 2 p.m. | Virtual vendor meeting (presented by Corebridge) |
| October 9, 10 a.m. | Virtual vendor meeting (presented by Corebridge) |
| Week of November 10 | Corebridge will provide a transition guide to all Corebridge participants |
| November 28 | Final contribution to old investment platform |
| December 12 | First bi-weekly payroll with contributions going to the new investment lineup |
| December 31 | First month payroll with contributions going to the new investment lineup |
Corebridge Representative:
Carrie W. Cummings, JD
Financial Advisor
Phone: (937) 542-2936
Email: carrie.cummings@corebridgefinancial.com
Click to Schedule Meeting
Website
Fidelity
| Date/Time | Event |
|---|---|
| Pending | Virtual vendor meeting (presented by Fidelity) |
| Week of November 10 | Fidelity will provide a transition guide to all Fidelity participants |
| Week of November 17 | Individual meetings with Fidelity representative |
| November 28 | Final contribution to old investment platform |
| December 12 | First bi-weekly payroll with contributions going to the new investment lineup |
| December 31 | First month payroll with contributions going to the new investment lineup |
Fidelity Representative:
Don Harvey
Financial Advisor
Phone: (513) 760-8472
Email: don.harvey@fmr.com
Website
TIAA
| Date/Time | Event |
|---|---|
| First week of October | TIAA will provide a transition guide to all TIAA participants |
| Week of October 6 | Virtual vendor meeting (presented by TIAA) |
| Week of October 13 | Individual meetings with TIAA representative |
| October 31 | Final contribution to old investment platform |
| November 14 |
First bi-weekly payroll with contributions going to the new investment lineup |
| November 30 |
First month payroll with contributions going to the new investment lineup |
TIAA Representative:
Kristy Breidenbach
Phone (980) 249-2742
Email: Kristy.Breidenbach@tiaa.org
Website
Voya
| Date/Time | Event |
|---|---|
| Pending | Virtual vendor meeting (presented by Voya) |
| Week of November 10 | Voya will provide a transition guide to all Voya participants |
| Week of November 17 | Individual meetings with Voya representative |
| November 28 | Final contribution to old investment platform |
| December 12 | First bi-weekly payroll with contributions going to the new investment lineup |
| December 31 | First month payroll with contributions going to the new investment lineup |
Voya Representatives:
Brian W. Link, CRPC®
Phone: 937-353-5490
Email:brianlink@voyafa.com
Schedule a Meeting
Laurel M. Link
Phone: 937-353-5491
Email: laurellink@voyafa.com
Schedule a Meeting
Frequently Asked Questions
-
What is changing?
Beginning December 1, 2025, the number of vendors offering the Alternative Retirement Plan (ARP) and voluntary 403(b) and 457(b) plans will be reduced from five to four. The continuing vendors will be:
- Corebridge
- Fidelity
- TIAA
- Voya
-
What else is new?
All four continuing vendors (Corebridge, Fidelity, TIAA, and Voya) will offer ARP, 403(b) and 457(b) plans.
Starting January 1, 2026, all four continuing vendors (Corebridge, Fidelity, TIAA, and Voya) will also offer post-tax retirement options: Roth 403(b) and Roth 457(b).
Additionally, a new and enhanced lower-cost investment menu will be introduced, with availability for selection during October, November, and December 2025 (timing will vary by vendor).
-
Who is impacted?
These changes affect all employees who participate in the Alternative Retirement Plan (ARP), voluntary 403(b), or 457(b) retirement plans.
-
Who is not impacted?
Participants in the State Teachers Retirement System (STRS) or Ohio Public Employees Retirement System (OPERS) are not affected by these changes.
-
Why is the University making this change?
Legal guidance provided to the Ohio Inter-University Council (IUC) clarifying that State of Ohio law places fiduciary responsibilities on state universities for retirement plans they offer. These fiduciary duties require employers to take a more active role in oversight of retirement plan options. To meet these obligations and follow best practices, Wright State University joined other institutions in the Ohio Inter-University Council (IUC) to select an independent advisor to guide us through a process to meet the recommendations presented. After an IUC led RFP process, Cammack Retirement Group (merged with CAPTRUST in 2021), was selected to conduct a full review of our ARP, 403(b) and 457(b) retirement plans to meet our fiduciary responsibilities and best serve employees. The review aimed to:
- Simplify how employees compare vendor options and fees
- Reduce the number of retirement plan vendors
- Negotiate lower investment fees where possible
- Implement ongoing monitoring of plan performance and fees
- Create a Retirement Plan Oversight Committee to ensure continued compliance
-
Do I need to do anything at this point in time?
If you currently have an ARP or 403(b) account with Equitable:
- You will no longer be able to make contributions to Equitable after November 28, 2025.
- Future contributions will be redirected to Fidelity by default, unless you choose to open a new account with Corebridge, Fidelity, TIAA, or Voya.
Your existing Equitable account balance can remain where it is, or you may transfer it to your new ARP or 403(b) vendor. To transfer your balance, you must request in-service transfer paperwork from your new vendor. Transfers can be completed anytime during your employment.
If you have an ARP, 403(b), or 457(b) account with Corebridge, Fidelity, TIAA, or Voya:
No action is required at this time. In October - November 2025 (timing varies by vendor), a transition guide will be mailed to you (from your vendor) with details about investment menu updates, webinars, individual meetings, and next steps.
-
I’m an Equitable ARP participant, how do I open an account with one of the four continuing vendors?
To open a new ARP account, contact a representative from one of the four continuing vendors: Corebridge, Fidelity, TIAA, or Voya.
Once your new ARP account is open, you’ll need to complete the ARP Vendor Change Form and submit it to
Human Resources between October 15 and November 28, 2025 via:
- Fax: 937-775-3040
- Secure File Share: monica.mack@wright.edu
TIAA Future contributions to your new vendor will begin based on your vendor and pay frequency:
Pay Cycle TIAA Corebridge Fidelity Voya Bi-weekly 11/14/2025 12/12/2025 12/12/2025 12/12/2025 Monthly 11/28/2025 12/31/2025 12/31/2025 12/31/2025 Final contributions to Equitable will occur on November 28, 2025. If you do not open an account with one of the continuing vendors, your future contributions will be directed to Fidelity by default.
-
I’m an Equitable 403(b) participant, how do I open an account with one of the four continuing vendors?
To open a new 403(b) account, contact a representative from one of the four continuing vendors: Corebridge, Fidelity, TIAA, or Voya.
After the account is opened, log in to the Retirement Manger website to direct your future contributions to your new vendor. Be sure to select the correct effective date, based on your vendor and pay frequency:
Pay Cycle TIAA Corebridge Fidelity Voya Bi-weekly 11/14/2025 12/12/2025 12/12/2025 12/12/2025 Monthly 11/28/2025 12/31/2025 12/31/2025 12/31/2025 As a reminder, final contribution to Equitable will occur on November 28, 2025. Future contributions will be directed to Fidelity by default unless you open an account with Corebridge, Fidelity, TIAA, or Voya.
-
Will I be able to keep my current investments?
If your current investment funds are no longer available, you should contact your vendor representative to allocate your funds within the new investment lineup.
If you do not select new investments, your future contributions will be directed to the age-appropriate Vanguard Target Date Fund. Fidelity mutual fund balances will also map to the Vanguard Target Date Funds unless they are moved to a new investment option or to the brokerage window (where existing Fidelity mutual funds may be found). Existing annuity balances at Corebridge, Voya and TIAA will remain invested as they are. However, no future contributions can be made to the annuity investments (except for TIAA Traditional, CREF Stock and CREF Social Choice which are available on TIAA’s new investment menu.) To ensure your portfolio aligns with your financial goals and risk tolerance, it's recommended that you actively review your investments with your vendor representative or a financial advisor.
-
Can I invest outside of the Wright State investment lineup?
Although the majority of employees will benefit from implementing a best practice approach that provides an investment lineup with appropriate oversight, the university also recognizes that some employees may still want access to a much larger selection of investment options. For employees who are sophisticated investors or those who utilize outside investment advisors, a self-directed brokerage account option will be available, providing access to over 9,000 mutual fund options.
-
How will the changes affect contribution amount, limits, and eligibility?
There will not be no impact.
Retirement Plans
Employees of Wright State University are required to participate in a university-provided retirement plan.
- Alternative Retirement Plan (ARP) - Full-time (75-100% FTE) employees are eligible to elect, within the first 120 days of employment, participation in the state system or in an Alternative Retirement Plan (ARP). Part-time employees (less than 75% FTE, support staff, and adjuncts) contribute to the applicable state retirement system.
- Ohio Public Employees Retirement System (OPERS) - New full-time classified and unclassified staff members are eligible to participate in one of the plans provided by the Ohio Public Employees Retirement System (OPERS) or participate with an approved Alternative Retirement Plan vendor. New part-time unclassified and classified staff members (who have not previously made a retirement plan election) are given a choice of participation in one of the plans provided by OPERS.
- State Teachers Retirement System of Ohio (STRS) - New full-time faculty members are eligible to participate in one of the plans provided by the State Teachers Retirement System of Ohio (STRS) or participate with an approved Alternative Retirement Plan vendor. New part-time faculty members (who have not previously made a retirement plan election) are given a choice of participation in one of the plans provided by STRS.
Forms
120/180 Day Retirement Calculator
To calculate your 120-day deadline to choose between OPERS/STRS and ARP (Alternative Retirement Plan) and/or your 180-day deadline to select one of OPERS/STRS plans, use the 120/180 Day Retirement Calculator (XLSX).
Social Security Fairness Act
The Social Security Fairness Act, HR 82, concerning the Windfall Elimination Provision and Government Pension Offset, was signed into law on January 5, 2025. Upon implementation, the Social Security Fairness Act eliminates the reduction of Social Security benefits while entitled to public pensions from work not covered by Social Security.
The Social Security Administration is evaluating how to implement the Act and developed a Social Security Fairness Act website. This site will be updated as more information becomes available.
