Tennessee 401(k) and 457 Deferred Compensation Program, Nashville, added the ING Fixed Account fund and Nationwide Bank Account fund as investment options, according to a letter to participants on the website of David H. Lillard Jr., state treasurer, who oversees the plans.
The program also dropped the ING Fixed Plus Account fund, Regions Bank Interest Bearing Account and Fidelity Money Market funds as investment options.
The changes are effective June 6.
As of Sept. 30, 2011, the 401(k) plan had $1.2 billion in assets and the 457 plan had $190 million in assets, according to the P&I Research Center. The plans share 29 investment options. Great-West Retirement Services is record keeper for the plans.
A phone call to Kaci Lantz, plan manager, was not returned by press time, and Blake Fontenay, spokesman for Mr. Lillard, could not provide further information by press time.