Hoffer Plastics Corp., South Elgin, Ill., will add the Neuberger Berman Socially Responsible Trust fund as a large-cap blend option for the company's $42 million 401(k) plan, said Stan Schambach, controller. The plan will freeze the existing large-cap blend option, the Neuberger Berman Focus Trust fund, to new investments on the same date. Mr. Schambach said plan officials decided to switch funds to lower volatility; the socially responsible fund has "a couple hundred holdings," while the Focus Trust fund has about "25 to 40" holdings.
Principal Financial Group is bundled provider for the plan, which offers 17 investment options. Wayne Hummer Investments assisted.