The CalSTRS VIP 403(b) program helps to take the guesswork out of supplemental retirement planning. Enhanced fund offerings and lower program fees make CalSTRS Voluntary Investment Program a more attractive way to save than ever. Plan administrators have added 10 new "lifecycle" funds to the mutual fund lineup. Best of all, VIP's low fees have gotten even lower. The cost of recordkeeping and advice services has been cut nearly in half, leaving more of your hard-earned money where it belongs, in your account, accruing interest.

For those of you who are already enrolled in VIP, the savings have already started. CalSTRS has reduced administrative fees by over 42 percent this year. If you invest $1,000 with VIP, you now pay $5.20 per year instead of $9.00 per year to cover plan expenses. You also have access to online investment tools or may have a one-time personalized investment evaluation by CitiStreet Financial Advisors that shows you what your investments could provide in the future, based on your risk tolerance -- all free of charge. For an additional cost, you can choose to enroll in the Professional Account Manager Service and have your VIP account managed for you on an ongoing basis.

For those of you who have not yet started saving keep in mind that for most retiring career educators, a CalSTRS pension will only replace about 65 percent of your current earnings. Supplemental investments like the CalSTRS VIP 403(b) program can help you take your financial future into your own hands.

Managing VIP investments has never been easier because the core investment choices have been restructured to better reflect your needs and preferences. VIP now offers several "lifecycle" funds under the Vanguard Target Retirement Funds umbrella. These 10 distinct funds consider investment styles based on your retirement goals and automatically adjust for your risk tolerance as you approach retirement. These funds are offered in five-year increments, with target retirement dates as soon as 2010 and as far off as 2050.

To make changes to your account call the toll free number or log on to your account. It's easy to get started with VIP; just download the enrollment packet which directs you through the process, or contact a VIP customer service rep at 800-699-4032.