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Self-Directed Brokerage Option (SDBO) Availability

Miami has implemented a self-directed brokerage account option so that financially savvy participants can invest in a wider array of mutual funds to more customize their portfolio.


Consider your risk tolerance when selecting investments. If you prefer to work with a financial professional, you may wish to meet with a financial advisor to suggest a portfolio based on the options available in the ARP/403(b) retirement Plan. This retirement plan investment advice is available at no additional cost to you through each of the approved vendors (Corebridge (AIG), Equitable, Voya, TIAA).

Miami University recommends that you exercise caution and consider seeking professional guidance when investing through a brokerage account and keep in mind that there are risks associated with investing in securities, including possible loss of principal.

Self-Directed Brokerage Option

The self-directed brokerage option is available to ARP and 403(b) plan participants. With this option, the Miami University Retirement Plan investment menu is organized into three tiers:

Tier 1 (already existing) will provide a Lifecycle or Target-Date Fund (based on your current age and your estimated retirement age).

A lifecycle or target-date fund is a“fund of funds,” primarily invested in shares of other mutual funds. The fund’s asset allocation is are adjusted from more aggressive to more conservative over time as the target retirement date approaches. The principal value of a lifecycle fund isn’t guaranteed at any time and will fluctuate with market changes. The target date represents an approximate date when investors may plan to begin withdrawing from the fund. However, you are not required to withdraw the funds at the target date. Also, please note that the lifecycle fund is selected for you based on your projected retirement date (assuming a retirement age of 65). After the target date has been reached, some of your money may be merged into a fund with a more stable asset allocation.

Tier 2 (already existing and includes the funds in Tier 1) will offer a core investment lineup (both passive and actively managed mutual fund choices across all major asset classes and will include recognized major mutual fund providers).

The core investment menu offers a wide range of investment options. These options cover the major asset classes including equities, fixed income, guaranteed, money market, multi-asset, and real estate.

Tier 3 is a Self-Directed Brokerage Account option. This option is for an experienced or sophisticated investor that will allow him/her to choose preferred investment fund choices through a brokerage window (note -there may be additional and/or higher fees associated with this option).

For investors with specialized investing needs, more choice can mean more opportunities to direct retirement investments across markets and asset classes outside of the Plan’s core lineup. With the brokerage account, participants can independently research and select from thousands of mutual funds.

It’s important to understand that Miami University will not monitor the performance of the funds offered through the brokerage account, and your ARP/403(b) vendor will not offer investment advice for brokerage assets. Plan participants will bear the risk of investing through the brokerage account.
The choice is yours. You can choose to invest in one or more of the investment tiers and can update your selections at any time.

Summary Table of Vendor Self-Directed Brokerage Account Option (SDBO)

Summary Table of Vendor Self-Directed Brokerage Account Option (SDBO)
Corebridge (formerly AIG) Equitable (formerly AXA) TIAA Voya
Name of SDBO Provider / Product Schwab Personal Choice Retirement Account (PCRA) TD Ameritrade TIAA TD Ameritrade
Price for participant (not including transaction fees) $50 annual $125 annual ($50) initial $0 $50 annual
Enrollment Corebridge Customer Service (other paperwork) Equitable Customer Service (other paperwork) TIAA Website TIAA Brokerage Line Voya Website
Phone Numbers 800-448-2542 866-766-4015 800-927-3059 800-584-6001

Schedule an Appointment with an Advisor

To learn more, you are encouraged to schedule an appointment with an advisor:

Equitable (formerly AXA)



Retirement@Work Customer Service844-567-9090

Corebridge Financial

Luke Scott, 614-436-4551 (office) | 614-395-7742 (cell),

Voya Financial Advisors


Online Scheduling for Matt Carter 

Derek Stiles, 937-353-5472800-451-4702 x4025472,

Jeff Rankin, CFS,< 937-353-5492800-451-4702 x4025492,

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