December 2018 Fidelity Share Class Change
Last Fall, investments in the Fidelity Contrafund and Growth Company Commingled Pools were moved from Class 1 shares to Class 2 shares to take advantage of lower investment costs, saving participants an estimated $1.1 million annually.
Ohio DC continues to see asset growth in these two commingled pools, and participants are once again eligible for a lower cost share class with the same investment strategy. The annual expense ratio on these investment options will move from 0.38% to 0.35%. Participants invested in the Fidelity Contrafund Commingled Pool and Fidelity Growth Company Commingled Pool will move from Class 2 shares to Class 3 shares resulting in over $750,000 in additional annual savings. Both investment options will move from Class 2 shares to Class 3 shares on Friday, December 14. No action is required by you. This change will happen automatically. Participants affected will receive a letter confirming this change.
To help process the required fund exchanges, participants invested in these funds should make any of their own planned exchange requests before 4 p.m. ET on December 13.