Vermont State Employees' Retirement System, Montpelier, will add eight investment options in its $171 million 457 plan, said David Minot, state director of finance and investments. The new options will be the T. Rowe Price Retirement Income, 2010, 2020, 2030 and 2040 funds; Calvert Income and Vanguard Mid-Cap Index funds; and the American Funds Growth Fund of America.
Six mutual fund options will be dropped: AIM Constellation Institutional, Fidelity Magellan, Janus Enterprise, Morgan Stanley Small Company Growth, Seligman Frontier Fund and T. Rowe Price International Stock Fund. Also, three Great-West lifestyle portfolios will no longer be offered.
Mr. Minot said the system wanted to lower fees and improve performance. Participants can make changes before Nov. 29, when their money will be automatically mapped to the new options, Mr. Minot said.
