New York City Deferred Compensation Plan has restructured its $1.8...

New York City Deferred Compensation Plan has restructured its $1.8 billion portfolio of passively managed indexed equities in order to diversify, said Lou Porpora, contracts supervisor for the $3.5 billion fund. Vanguard Group, which previously managed the entire index portfolio in a Standard & Poor’s 500 index strategy, has been reduced to $600 million from $1.8 billion. The remaining $1.2 billion was divided between Barclays Global Investors and State Street Global Advisors, with each getting around $600 million to invest in S&P 500 index funds, Mr. Porpora said.