October 1, 2015

VANDERBILT UNIVERSITY maintains the Vanderbilt University 403b Retirement Plan (the "Plan").This brochure containsimportant information that can help you make informed investment decisions regarding your participation in the Plan and yourPlan account.

Your Plan administrator has directed Fidelity Investments ("Fidelity"), a Plan service provider, to develop this consolidatedbrochure based upon information provided by each of the following investment providers:

l Fidelity Investments

l TIAA-CREF *

l Variable Annuity Life Insurance Company *

To obtain more up-to-date investment performance or Planinformation, please go to the website or call the telephonenumber shown in each provider’s notice,or go to https://pcs.fidelity.com/public/netbenefits/planfunds/performance/cr?plan=59208&client=713324

*PLEASE NOTE: The frozen provider(s) noted above with an asterisk are subject to specific restrictions regarding futurecontribution elections or investment transactions. Our records show that you may have an account balance with these frozenproviders. Please refer to the providers' notices in this brochure for more information. Also, please be aware that you mayreceive (or may have received) a similar notice consisting of Fidelity information only.

Sincerely,

VANDERBILT UNIVERSITY

Please note that the investment providers above have supplied the information for their individual notices. Fidelity Investments isnot responsible for other providers' content.

Fidelity Investments Institutional Operations Company, Inc., 245 Summer Street, Boston, MA 02210

600016.14.0