Vanguard Institutional Index Fund Institutional Plus Shares.pdf

This is a product specification document for the Vanguard Institutional Index Fund Institutional Plus Shares, which serves as one of the 27 approved investment options available to participants in New Jersey's defined contribution retirement programs (NJSEDCP and NJDCRP). The document details the fund's characteristics, performance metrics, and investment profile as it would be offered under the administrative services contract. The selected administrative services vendor will be responsible for managing this investment option among the comprehensive suite of available investments for the state's 163,987 retirement plan participants across approximately 1,814 participant locations.

The Vanguard Institutional Index Fund Institutional Plus Shares represents a passive index-based investment vehicle that would be integrated into the recordkeeping and investment administration platform maintained by the winning contractor. As one component of the 27-option investment menu, this fund contributes to the diversified investment choices available to plan participants. The administrative services vendor must ensure accurate fund valuation, performance tracking, participant transaction processing, and compliance reporting for this and all other available investment options. Revenue sharing arrangements with investment providers, including Vanguard, will be rebated to participants as required under the contract terms, with the selected vendor responsible for managing all fund-related administrative requirements across both the 457(b) and 401(a) plans.