CarMax adds two funds to 401(k) lineup

CarMax Inc., Richmond, Va., added the ING Small Cap Growth Equity Trust fund and Vanguard Developed Markets Index fund as investment options in its 401(k) plan, confirmed spokeswoman Britt D. Farrar.

The 401(k) plan also dropped the Morgan Stanley (MS) Institutional Small Company Growth Fund.

The changes were effective Jan. 2. Ms. Farrar said the changes were a result of the company's regular fiduciary review of the 401(k) plan.

The changes give the plan a total of 10 investment options. The plan also offers a T. Rowe Price target-date fund series.

As of Dec. 31, 2011, the CarMax Inc. Retirement Savings Plan had $218 million in assets, according to the firm's most recent Form 5500 filing.

Janet Breuington, director-benefits, and Katharine Kenny, vice president-investor relations, did not return phone calls by press time.