Sodexo chooses SSgA target-date family as default option in 401(k) plan
By Rob Kozlowski | March 1, 2013 2:02 pm
Sodexo Inc., Gaithersburg, Md., added a State Street Global Advisors target-date fund family as investment options in its 401(k) plan, according to employee materials posted on the 401(k) plan's website.
The family will be the new default option. The plan is dropping its Conservative and Aggressive Strategic Balanced Funds as a result, and investments in those funds will be automatically mapped to one of the 11 SSgA target-date fund options the plan is now offering.
The plan's Moderate Strategic Balanced Fund, the plan's previous default investment option, will remain as one of the plan's 19 investment options.
The Sodexo 401(k) Employees' Retirement Savings Plan and Trust had $101 million in assets as of Dec. 31, 2011, according to the company's most recent Form 5500 filing.
A phone call to Peri Bridger, senior vice president and chief human resources officer, was not returned by press time.