Illinois State Employees' Deferred Compensation Plan, Springfield, added active equity options from Lord Abbett and William Blair to its $3 billion participant-directed 457 plan, according to William R. Atwood, executive director of the Illinois State Board of Investment, Chicago, the plan’s fiduciary.
Lord Abbett will manage a U.S. large-cap core separate account, while William Blair will offer its International Small Cap Growth mutual fund.
Dropped as an option was the Legg Mason Capital Management Value Trust Fund for performance reasons, Mr. Atwood said. The active U.S. large-cap core equity portfolio had $109 million in assets as of Dec. 31. Mary Athridge, Legg Mason spokeswoman, couldn’t be reached for comment.
The plan had 15 investment options before the changes.
An RFP for the options was issued in January. Consultant Marquette Associates assisted.