Solutia Inc., St. Louis, the chemical division spun off from Monsanto last September, is streamlining its $1.5 billion 401(k) plan, moving to six options from 11, said Henry Ehrenreich, director of treasury.
When the new plan is rolled out next April, it will have four ``mixed'' funds, built off the underlying funds and targeted to specific levels of risk; a Solutia stock fund; and the option of building an individual portfolio.
Employees who build their own portfolios will be able to put their assets into five individual investment funds - indexed U.S. equity, growth equity, international equity, a balanced fund and fixed income.
Employees who choose the mixed funds will not be allowed to mix and match. Under the current plan, employees have the same choices - plus a growth and income fund - but they can mix and match freely.