ITT Industries, White Plains, N.Y., added four options to its $1.1 billion 401(k) plan - the Putnam New Horizon Fund, an aggressive growth fund; the American New Perspective Fund, a global equity fund managed by Capital Research and Management; a long-term corporate bond fund from Vanguard; and a value equity fund from Sanford C. Bernstein. The fund now has eight options.
Plans to change options had been in the works since ITT split into three separate companies in 1995, said Jerry Bloom, director of employee benefits. Hewitt was the consultant. ITT also is improving education for its plan with a new video done by J.P. Morgan, which manages its equity index fund.