Lakeland, Fla., added a real estate investment trust fund managed by Vanguard Group to the investment lineup of its 401(a) and 457 plans, said Cherie Watson-Matthews, the city’s pension benefits specialist, in an e-mail.
The Vanguard REIT index fund is a new addition to the lineup and does not replace any other fund. The lineup did not previously include a REIT fund. The 401(a) plan and 457 plan have identical investment lineups and now have 32 investment options.
The plans have a combined $73 million in assets.