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December 26, 2012 12:00 AM

TASC 401(k) changes target-date fund provider

Rob Kozlowski
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    TASC Inc. Savings Plan, Chantilly, Va., is switching its target-date fund lineup for its 401(k) plan to ING Solution Portfolios, managed by ING U.S Retirement Solutions, from BlackRock LifePath funds, according to a posting on the plan's website.

    All assets in the BlackRock LifePath funds will automatically map to the ING funds at 4 p.m. EST on Dec. 31.

    The change is partially the result of fees. According to the TASC employee newsletter, investing in the ING target-date funds lowers the management fee to 30 basis points from 35 basis points.

    The 401(k) plan has 13 investment options and 10 target-date funds. The asset size of the plan could not be learned by press time.

    TASC spokeswoman Christine Nyirjesy Bragale did not have further information by press time.

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