The Los Angeles Unified School District started a 457 plan on Nov. 1 and will include mutual fund revenue-sharing information and education materials from bundled provider AIG VALIC, said David Holmquist, benefits manager.
The new plan has 18 investment options divided into three tiers plus a mutual fund window, said Susan Rodriguez, director of benefits administration. Tier one contains a set of five lifecycle funds managed by T. Rowe Price. Tier two has core index funds: Dreyfus Bond Market Index and S&P 500 Index; and Vanguard Extended Market Index and Developing Market Index. Tier three has core active funds: American Funds Growth Fund of America and EuroPacific Growth; AIG VALIC Fixed Account Plus; a Dreyfus money market fund; PIMCO Total Return; Davis NY Venture; Vanguard Growth and Income; Janus Mid Cap Value Investor; and Turner Midcap Growth Equity.