Washington State Investment Board, Olympia, later this year will evaluate the investment options for its $1.6 billion 457 plan, said Gary Bruebaker, chief investment officer. Fidelity, which manages four of the funds 11 investment options, accounts for two-thirds of the assets: a $353 million equity income fund; a $444 million retirement growth fund; a $239 million growth fund; and a $27 million overseas fund. Calvert manages a $32 million socially responsible balanced fund, and BGI runs a $47 million index fund tracking the Wilshire 5000 index. Internally managed investment options are: long-, mid- and short-term balanced funds, for which BGI runs the equity portions; an intermediate bond fund; and a savings pool invested in bonds and cash.
The board wont start looking at the plan until after a new asset allocation is adopted for its retirement plans, which total $45.5 billion, now slated for May. Any changes to the plans investment options should be completed by September, Mr. Bruebaker said.