MY_investment_optionsIn My Investment Options, you’ll learn about the providers who offer the investment fund options for the plan, what your investment fund options are, how those investment funds are performing, fees that you pay when you invest and factors to consider in determining the right investment mix for you.

Choosing an Investment Option Is Now Easier Than Ever
MaineSaves moved to a new, consolidated investment fund lineup, effective May 1, 2019. Learn more here.

 

 

 

 

 

Comparing Local Providers

When you enroll in MaineSaves, one of the first things you’ll do is choose a provider so you can decide where to invest your savings. There are three providers for the plan⎯AIG Retirement Services (formerly known as VALIC), MassMutual, and Voya⎯but you can invest with only one provider at a time. How do you know which one to choose? Here are four factors to consider.

 

1. Fund Options

Each of the providers offers the same variable return investments along with a proprietary Fixed Account fund. In addition, each provider has a Self-Directed Account (SDA), which offers you investment alternatives beyond the plan’s core funds. For more detail about any of the core funds, see the Fund Fact Sheets or the fund prospectuses (available on the provider website). To help guide your decisions, view the Fund Performance Chart, which shows a summary of past performance for all the fund options.

2. Fees

All of the providers charge fees to manage your investments and administer the plan. Fees can reduce the return on your investment over time. They can also vary widely from one investment to another. So, it’s a good idea to understand how much you’re paying in fees when you choose to invest in any fund. View the “Fee Information” section of the Fund Performance Chart to learn more about the fees you pay and how they’re determined, and to see the actual amount you pay for each fund.

3. Services

Each provider offers certain services to the plan. For example, each provider has local representatives who are available to help you enroll in the plan and answer your questions about participating in the plan. These local representatives may also visit State locations from time to time to hold live meetings about the plan. Each provider also has a website where you can see the actual performance of your individual account, perform account transactions (such as changing your investment options) and make use of education and tools to help you use the plan to your best advantage. So, look through the websites to see which you find most helpful:

4. Fixed Account Fund Returns

The Fixed Account is a conservative fund that guarantees a certain return on your investment, much like a bank account. Each provider offers one. If the Fixed Account will be one of your investment choices, you should compare the rates from each of the providers, as shown in the Fund Performance Chart.

What Are My Investment Options?

The MaineSaves investment fund lineup has been reorganized to make it easy for everyone to choose an investment mix based on your comfort level as an investor. Here are the three broad groups of funds:

  • Target Date Funds
  • Core Funds
    • Capital Preservation Funds
    • Bond Funds
    • U.S. Large Cap Stock Funds
    • U.S. Mid-Cap Stock Funds
    • U.S. Small Cap Stock Funds
    • Global Stock Funds
    • International Stock Funds
  • Self-Directed Account

Each provider offers the same variable return investments along with a proprietary Fixed Account fund. Learn more about the new fund lineup here.

Dig a Little Deeper

Read up on the asset classes (types of investments) offered in MaineSaves. They say one of the keys to long-term success as an investor is picking the right asset classes for your investment mix. For more information about the asset categories offered in MaineSaves, view the List of Investment Funds and Asset Classes.

Check how the funds are performing. View the Fund Performance Chart to see the current list of funds in order of risk, from lowest to highest, along with their performance and associated fees.

Read the Fund Fact Sheets to learn about the funds’ objectives and strategies. A Fund Fact Sheet provides a concise summary of a fund’s investment objective and strategy, principal risks, performance history, and fees. (Note: Although each provider offers the same variable return funds, the names may be slightly different.)

Here are the latest fact sheets for each investment option in the plan, organized by provider:

To learn more about each fund, read the prospectus (available on the provider’s website).

Fund Performance

The Fund Performance Chart shows the investment options’ rates of return for these timeframes: 3 months, 1 year, 5 years, 10 years/inception date. The Fund Performance Chart also shows the fees associated with investing in each option.

View the Fund Performance Chart. Need help understanding it? Review our Terms to Know.

The Advisory Council that governs MaineSaves meets periodically during the year to review fund performance and plan operations. If you would like a copy of the most recent meeting materials, please contact the Office of Employee Health & Benefits.

But what about the old funds?
The Fund Performance Chart above reflects returns for the new fund lineup and is intended for you to use when making future decisions. To view performance returns on your existing balance before May 1, 2019, look at the statement sent to you by your provider.

Understanding Fee Charges

As you choose your investment fund options, don’t forget to consider how much you’re paying in fees. Over time, even small differences in fees can substantially reduce the growth of your retirement savings.

View the “Fee Information” section of the Fund Performance Chart to learn more about the fees you pay, understand how they’re determined, and see the amount you pay in fees for each fund.