State of Illinois Employees' Deferred Compensation Plan, Springfield, hired consultant Iron Capital Advisors to assist in a search for three investment options for its $2 billion plan, said William Atwood, executive director of the Chicago-based Illinois State Board of Investment, a fiduciary to the plan. Two of the options - a lifestyle fund and active domestic large-cap value - would be new. The third, core equity, already is available to participants through the Fidelity Fund; Fidelity can rebid, Mr. Atwood said. The board expects to select funds in March.
The moves will raise the plan's investment options to 14. Fidelity manages one other option for the plan, the balanced Fidelity Puritan Fund. T. Rowe Price, the record keeper, manages two of the investment options.