Morningstar Retirement Manager

Saving for your retirement is easy – but it can be hard to know if your investment selections and savings rate decisions will lead to meeting your retirement goals. To help you feel more in control of your financial future, the SUNY Retirement Programs provide services from the investment professionals at Morningstar Investment Management LLC to offer advice and guidance personalized just for you.

Manage My Plan Manually (Online Advice) – Provides objective online investment advice at no charge from the investment options available under the Plans.  There is no charge for this service.  Features include:

  • Research and reports about the Plan’s investment options.
  • Tools to help you set retirement goals and recommended an asset mix.
  • Specific, independent, objective and professional investment advice to help you create a diversified portfolio.
  • Personalized investment option recommendations that factor in your unique financial situation and savings objectives.

Have Morningstar Manage My Plan (Managed Accounts) – For an additional fee, provides participants with a personalized retirement strategy, discretionary asset management, and ongoing oversight to help them meet their retirement goals. Features include:

  • Active account management by Morningstar for those who lack the time or desire to actively manage their account.
  • Morningstar, in turn, assumes responsibility for monitoring your account on a quarterly basis and executes appropriate transactions on your behalf.
  • Participants who select this service would be charged an annual fee of 0.40% (0.20% to Voya, 0.20% to Morningstar Investment Management LLC).

For more information about Morningstar Retirement Manager, log in to your account and click Get Investment Advice at the top of the page. Then follow the easy prompts to see how your retirement strategy ranks and if Morningstar Investment Management LLC advice services could be right for you.


Not FDIC/NCUA/NCUSIF Insured I Not a Deposit of a Bank/Credit Union I May Lose Value I Not Bank/Credit Union Guaranteed I Not Insured by Any Federal Government Agency

Variable annuities are intended as long-term investments designed for retirement purposes. Withdrawals from an annuity may be subject to an early withdrawal fee and, if taken prior to age 59½, an IRS 10% premature distribution penalty tax will apply, unless an IRS exception applies. Money taken from the annuity will be taxed as ordinary income in the year the money is distributed. Account values fluctuate with market conditions, and when surrendered the principal may be worth more or less than its original amount invested. An annuity does not provide any additional tax deferral benefit, as tax deferral is provided by the plan. Annuities may be subject to additional fees and expenses to which other tax-qualified funding vehicles may not be subject. However, an annuity does provide other features and benefits, such as lifetime income payments and death benefits.

For 403(b)(1) fixed or variable annuities, employee deferrals (including earnings) may generally be distributed only upon your: attainment of age 59½, severance from employment, death, disability, or hardship. Note: Hardship withdrawals are limited to employee deferrals made after 12/31/88. Exceptions to the distribution rules: No Internal Revenue Code withdrawal restrictions apply to ‘88 cash value (employee deferrals (including earnings) as of 12/31/88) and employer contributions (including earnings). However, employer contributions made to an annuity contract issued after December 31, 2008 may not be paid or made available before a distributable event occurs. Such amounts may be distributed to a participant or if applicable, the beneficiary: upon the participant’s severance from employment or upon the occurrence of an event, such as after a fixed number of years, the attainment of a stated age, or disability.

Insurance products, annuities and retirement plan funding issued by (third party administrative services may also be provided by) Voya Retirement Insurance and Annuity Company (“VRIAC”), Windsor, CT. VRIAC is solely responsible for its own financial condition and contractual obligations. Plan administrative services provided by VRIAC or Voya Institutional Plan Services LLC (“VIPS”). VIPS does not engage in the sale or solicitation of securities. All companies are members of the Voya® family of companies. Securities distributed by Voya Financial Partners LLC (member SIPC)or third parties with which it has a selling agreement. Custodial account agreements or trust agreements are provided by Voya Institutional Trust Company. All products and services may not be available in all states.