International Brotherhood of Electrical Workers Local 357, Las Vegas, will switch its $150 million money purchase plan from trustee directed to employee directed, effective Sept. 1, said Jack Peterson, vice president of consultant Zenith Administrators.
The plan will have 13 new investment options provided by new bundled service provider MassMutual Retirement Services, including a balanced fund comprising 50% indexed equities and 50% core fixed income, mirroring the asset allocation of the trustee-directed plan, Mr. Peterson said.
The Marco Consulting Group assisted.
