Chevron Corp., San Ramon, Calif., is adding three investment options and dropping two others to its 401(k) plan, according to a newsletter on the company's website.
The plan is adding three funds managed by Vanguard Group: an emerging markets stock index fund, a REIT index fund and a small-cap equity index fund.
The plan is dropping the Artisan Small Cap Value Fund and the Vanguard Balanced Index Fund.
Participants invested in the Artisan fund will be mapped to the Vanguard small-cap equity index fund.
Participants in the Vanguard Balanced Index Fund will be mapped to whichever Vanguard target-date fund is closest to year when the participant would reach age 65.
The changes give the plan a total of 20 investment options, plus the Vanguard target-date fund lineup and a brokerage option.
As of Dec. 31, 2012, the Chevron Employee Savings Investment Plan had $16.8 billion in assets, according to the company's most recent 11-K filing.
Tom Toy, manager, reporting and control, declined to provide any comment.
