Featured Article
What to Keep in Mind When Interest Rates Rise
June 2021
Dear MMBB Member,
MMBB regularly reviews its investment options to ensure they continue to help you meet your retirement and financial goals. With this in mind, MMBB will change or modify fund options from time to time.
MMBB is making four such changes as outlined below. These changes will take place after the market closes on June 30, 2021 (generally 4:00 p.m. Eastern time).
MMBB is changing the default investment option from the Balanced Fund to the Target Date Fund associated with each member’s expected retirement year. This change applies to FUTURE contributions for members who, as of June 30, 2021 at 4:00 PM ET, have NEVER made an investment direction election. If your future contributions are directed to the Balanced Fund via default (i.e., you never made an investment election), you can opt out of this change and continue to have future contributions go to the Balanced Fund. If you wish to do this you MUST make an investment direction election that is 100 percent Balanced Fund prior to 4:00 PM ET on June 30, 2021.
The default option for undesignated FUTURE contributions.
Previous Default Option |
→ |
Future Default Option |
Balanced Fund Investment Management Fees: 0.37% |
→ |
Target Date Fund Investment Management Fees: 0.09% |
Your current assets in and future contributions to the U.S. Blended Equity Fund will be transferred to the U.S. Equity Index Fund after market close on June 30, 2021 (see the chart below). While both funds invest in the broad U.S. equity market, the U.S. Blended Equity Fund is actively managed. The U.S. Equity Index Fund is passively managed at a significantly lower investment management fee.
The transfer of balances will appear as a fund transfer on your account history and quarterly statement.
Previous Investment Option |
→ |
Future Investment Option |
U.S. Blended Equity Fund Investment Management Fees: 0.47% |
→ |
U.S. Equity Index Fund Investment Management Fees: 0.02% |
If you invest in the U.S. Blended Equity Fund and do not want your balance transferred to the U.S. Equity Index Fund, please visit www.mmbbaccounts.org or call 1-877-626-4032 before June 30, 2021 to make an election to an alternate MMBB fund option.
Your balances will remain in the renamed fund, which will continue to invest in the broad, developed international equity markets. However, the fund will use a passive investment approach at a significantly lower investment management fee, rather than a combined active and passive approach.
Current Investment Option |
→ |
Future Investment Option |
International Blended Equity Fund Investment Management Fees: 0.50% |
→ |
International Equity Index Fund Investment Management Fees: 0.04% |
If you do not want to invest in the International Equity Index Fund, please visit www.mmbbaccounts.org or call 1-877-626-4032 before June 30, 2021 to make an election to an alternate MMBB fund option.
There will be no change to the investment management of the underlying assets and no action is required.
For more information about any of the MMBB investment options, visit www.mmbb.org, click Personal Finance and go to Investment Options. You can also contact the MMBB Service Center at 1-800-986-6222.
The MMBB Service Team
Back to Financial Resource Center
Thank you for joining the MMBB mailing list. You will begin to receive information soon.
Translations of any materials into languages other than English are intended solely as a convenience to the non-English-reading public. We have attempted to provide an accurate translation of the original material in English, but due to the nuances in translating to a foreign language, slight differences may exist.
Las traducciones de cualquier material a idiomas que no sean el inglés son para la conveniencia de aquellos que no leen inglés. Hemos intentado proporcionar una traducción precisa del material original en inglés, pero debido a las diferencias de la traducción a un idioma extranjero, pueden existir ligeras diferencias.
MMBB Financial Services is pleased to unveil our new website experience.
Watch a guided tutorial of our enhanced site to introduce you to important new features designed to help you live your life with financial confidence.
You will be linking to another website not owned or operated by MMBB. MMBB is not responsible for the availability or content of this website and does not represent either the linked website or you, should you enter into a transaction. The inclusion of any hyperlink does not imply any endorsement, investigation, verification or monitoring by MMBB of any information in any hyperlinked site. We encourage you to review their privacy and security policies which may differ from MMBB.
If you “Proceed”, the link will open in a new window.