URS Corp., San Francisco, will drop the Janus Aspen International Growth and INVESCO Small Company Growth funds as investment options in its $600 million 401(k) plan, said Jeff Belfiore, retirement manager.
Plan officials were concerned about performance of the Janus fund, Mr. Belfiore said, as well as management changes at Janus Capital and the firm being named in a complaint by New York Attorney General Eliot Spitzer. The INVESCO fund, which had been on watch for six months, was dropped for performance, Mr. Belfiore said. Participants invested in these funds will be advised to redirect their money into similar existing funds.
American Express is the bundled provider. Mercer Investment Consulting assisted.