Michigan State University, East Lansing, added two investment options and removed an existing option from the lineups of its defined contribution plans, said university spokesman Jason Cody in an e-mail.
The university added the Dodge & Cox Global Stock Fund and Loomis Sayles High Income Fund to both the 403(b) and 457(b) lineups provided by TIAA-CREF and Fidelity Investments.
The Loomis Sayles fund replaces the Harbor High-Yield Bond Fund, managed by Harbor Funds. Mr. Cody did not disclose the reason for the fund’s removal, but said MSU’s retirement investment advisory committee along with its consultant, Aon Hewitt Investment Consulting, regularly review the plans’ investment choices for performance, fees and management.
The university administers a 403(b) plan and a 457 deferred compensation plan, which had a total of more than $4.2 billion in assets as of Dec. 31, 2013, the most recent data available.