IBEW Local 728 is switching its $73 million money purchase plan to member-directed from trustee-directed and hiring CIGNA as its semibundled provider, said James Weldon, business manager. The plan will have a core fund mirroring the current asset allocation and 14 other investment options, including five CIGNA lifecycle funds. Other managers are Janus; Fidelity; Morgan Stanley; Wellington; TimesSquare Capital; Cadence; and Wentworth, Hauser & Violich.
Members will be able to direct their investments once they have completed an education program, Mr. Weldon said. Internet access will be available in a few weeks, he added.
