Fort Worth, Texas, overhauled the investment lineup of its $161 million 457 deferred compensation plan, said Margaret Wise, human resources assistant director.
The changes became effective last month, following the hiring of TIAA-CREF as the plan's bundled provider.
The new lineup features 17 new investment options, along with TIAA-CREF's lifecycle funds and a self-directed brokerage account.
The new options include four passive Vanguard Group funds — S&P 500, midcap equity, small-cap equity and fixed income; two American Funds equity funds — new economy and small-cap world fund; and two Dimensional Fund Advisors equity options — emerging markets small cap and real estate securities.
The other new equity managers are Goldman Sachs Asset Management, Harbor Funds, Invesco, Scout Investments, and TIAA-CREF.
The other new fixed-income managers are BlackRock, Metropolitan West Asset Management and Franklin Templeton Investments.
The plan is removing more than 70 investment options previously offered by the two prior providers, ICMA-RC and Nationwide Retirement Solutions.
The underlying investment strategy of the plan's stable value option is not changing, according to the transition guide. Wells Fargo Stable Value Fund C, which replaced Galliard Stable Value Fund C, is entirely invested in the same underlying fund, Wells Fargo Stable Return Fund G.
