Office Depot Inc., Boca Raton, Fla., is adding the T. Rowe Price Retirement Target-Date series as its new qualified default investment alternative in its 401(k) plan, confirmed spokeswoman Rebecca Rakitin.
The previous QDIA, Manning & Napier Pro-Blend Extended Fund, will remain in the 401(k) plan's lineup. Participants in the Manning & Napier fund who were automatically mapped to that fund as the default option will be mapped to the new default option.
Plan change notices will be sent to participants in late February, wrote Ms. Rakitin in an e-mail.
The new target-date fund series gives the plan a total of 20 investment options.
As of Dec. 31, 2011, the Office Depot Inc. Retirement Savings Plan had $378 million in assets according to the company's most recent Form 5500 filing.