Ruby Tuesday Inc., Maryville, Tenn., is adding three new investment options to its 401(k) plan, said Heidi Chandler, benefits administrator.
The additions are effective March 5. The plan is adding the Goldman Sachs Small Cap Value fund. The fund, managed by Goldman Sachs Asset Management, replaces a similar domestic small-cap value equity fund managed by Wells Fargo, from which participants will be mapped to the new fund.
Also, the plan is adding the J.P. Morgan U.S. Equity Fund. The fund, managed by J.P. Morgan Asset Management, invests at least 80% of assets in domestic large-cap and midcap equities and up to 20% in international equities and replaces the American Funds Fundamental Investors fund, from which participants will be mapped to the new fund.
Finally, the plan is adding the Prudential Total Return Bond Fund, which replaces the PIMCO Total Return Fund, from which participants will be mapped to the new fund. The new fund is managed by Prudential Fixed Income.
Ms. Chandler said the changes were a result of a recent investment committee meeting, but she did not go into detail on the reasons for the changes.
The Ruby Tuesday Inc. Salary Deferral Plan had $37 million in assets as of Dec. 31, 2013, according to the company’s most recent Form 5500 filing.
In the same Form 5500 filing, the plan reported the Wells Fargo Advantage Small Cap Value Fund had $3.8 million in assets and the American Funds Fundamental Investors fund had $2.6 million in assets as of Dec. 31, 2013. The PIMCO Total Return Fund, managed by Pacific Investment Management Co., had less than 5% of the plan’s total assets and an exact asset amount was not given.