Huntington Bancshares Inc., Columbus, Ohio, restructured the investment options lineup of its 401(k) plan, according to a newsletter for employees on the company's website.
The new investment options lineup, which went into effect on Nov. 8, consists of four tiers: asset allocation funds, actively managed funds, passively managed funds and company stock.
The plan has added a Vanguard Group target-date fund lineup and the Vanguard Wellington fund as a fixed-allocation fund for the asset allocation tier. The plan is removing the Huntington Conservative, Balanced and Growth Allocation funds effective Dec. 31, and participants invested in those funds will be automatically mapped to the Vanguard Wellington fund.
For the passively managed tier, the plan added three Vanguard index funds: the Inflation-Protected Securities fund, Total Bond Market index fund and Total International Stock index fund. The fourth fund, Vanguard Institutional index fund, was previously offered to participants.
The actively managed tier will consist of 19 investment options, all of which are currently being offered.
As of Dec. 31, the Huntington Investment and Tax Savings Plan had $423 million in assets, according to its most recent 11-K filing.
Phone calls to Keith Sanders, senior executive vice president and chief human resources officer, and Maureen Brown, spokeswoman, were not returned by press time.