Mount Holyoke College, South Hadley, Mass., is adding two investment options and dropping three others from its approximately $276 million 403(b) plan, said spokeswoman Julia Ferrante in an e-mail.
Effective Nov. 2, the plan is adding Calvert Balanced I, managed by Calvert Investments, and the BlackRock Total Return Fund.
Also effective Nov. 2, the plan is removing two Pacific Investment Management Co. funds— the Total Return Fund and Long-Term U.S. Government Fund. Participants in those funds will be mapped to the BlackRock Total Return Fund.
The plan is also removing the T. Rowe Price Retirement Balanced Fund, from which participants will be mapped to the T. Rowe Price Retirement 2005 Fund, an existing target-date fund.
Following the changes, the plan, administered by Voya, will have 17 investment options in addition to the T. Rowe Price target-date lineup.
The college’s investment committee regularly monitors its core funds and felt the fund changes were “in the best interest of participants,” Ms. Ferrante said. She did not elaborate.
She also declined to provide how much was invested in the removed funds.
