The Voluntary Investment Program (VIP) and the UW Retirement Plan (UWRP) are retirement savings plans that offer multiple "fund sponsors" (investment companies) and an array of funds within each company.
The UWRP/VIP Fund Review Committee is a standing committee created by amendment to both the UWRP and VIP plan documents and approved by the UW Board of Regents. The committee’s structure and authority is outlined in Section 8.3 of the UW Retirement Plan document and Section 5.4 of the Voluntary Investment Program document. The language in each section is identical, and one committee serves both programs. The membership of the committee is designed to include representatives of plan participants, in particular the UW Retirement Plan. In addition, the committee identifies faculty and staff with appropriate expertise in a range of areas such as finance, tax law, and economics.
The purpose of the committee is to review and share with the campus community information about the following:
The committee is advisory to the Executive Vice President. All questions, comments, and suggestions from participants should be made in writing (via letter or email) so that a record of committee business can be kept on file. All input to the committee will be acknowledged and shared with the entire committee. Please contact
Kathleen Dwyer
Director of Benefits
University of Washington Benefits & Work/Life Office
Attention: UWRP/VIP Fund Review Committee
Box 355660
benefits@u.washington.edu
Membership and terms of appointment are defined in Section 8.3 of the UWRP plan document and Section 5.4 of the VIP plan document.
See current committee members . Also see appointment schedule and term lengths.
The UWRP and VIP are retirement savings plans that offer multiple "fund sponsors" (investment companies) and an array of funds within each company.
Actions to add fund sponsors or alter funds offered as investment options have in the past been accomplished via appointment of a presidential task force to review campus needs and make recommendations to the UW president.
With the support of the Faculty Council on Retirement, Insurance and Benefits, the Professional Staff Association, the Association of UW Librarians, and UW Human Resources’ Benefits & Work/Life, a Fund Review Committee was proposed. This standing committee was developed as a mechanism to provide routine review of the funds and fund sponsors and collect statistics about performance, changes in the defined purpose of funds, customer service, etc. In addition the committee can serve as a place to which the campus community can direct individual input regarding addition or termination of funds or fund sponsors.
The committee is advisory to the Executive Vice President. The committee may recommend to the Executive Vice President:
Fund Review Committee members shall not participate in the formulation or rendering of Fund Review Committee advice where it reasonably appears that their participation could be influenced by financial or other considerations that are in conflict with their Fund Review Committee obligations to only consider the best interests of the University of Washington. Where a member is uncertain about this rule, the member should consult the Director of Benefits, who will seek the advice of the Attorney General as appropriate.
The committee is advisory to the Executive Vice President. See UWRP/VIP Fund Review Committee Actions for recent actions taken.
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