Chicago Regional Council of Carpenters added and removed investment options from the lineup of its supplemental retirement plan, said Kristina M. Guastaferri, plan administrator, in an e-mail.
The plan’s board of trustees wanted to “implement new investments options with advantageous share class pricing coupled with solid historical returns,” Ms. Guastaferri said regarding the reason for the changes, which took effect earlier this month.
The plan now consists of 16 investment options, 11 of which are new, in addition to a series of Vanguard target-date funds. The Vanguard target-date funds were part of the previous fund lineup.
The new options are:
- Six Vanguard Group funds — selected value equity, small-cap equity index, midcap equity index, developed markets equity index, total bond market index and balanced index;
- LSV Value Equity Fund, managed by LSV Asset Management;
- Wells Fargo Enterprise Fund, a midcap growth equity fund;
- Janus Research Fund, a large-cap growth equity fund managed by Janus Capital Management;
- Baird Intermediate Bond Fund, managed by Baird Advisors ; and
- Prudential Jennison Small Company Fund, managed by Prudential Financial
A total of eight options were removed the plan, including two Vanguard funds — the Explorer Fund, a small-cap growth equity fund and the dividend growth equity fund. The other removed funds are Goldman Sachs Mid Cap Value Fund, managed by Goldman Sachs Asset Management; BlackRock Equity Dividend Fund; Morgan Stanley Institutional Fund Trust Mid Cap Growth Portfolio, managed by Morgan Stanley Investment Management; T. Rowe Price New America Growth Fund; Pacific Investment Management Co.’s Total Return Fund; and George Putnam Balanced Fund, managed by Putnam Investments.
Previous investment options that remain available under the new lineup are the Vanguard Institutional Index Fund; Dodge & Cox Balanced Fund; Columbia Small-Cap Value Fund II; Hartford International Opportunities Fund; and a Putnam stable value fund.
As of March 30, the plan had $468 million in assets, Ms. Guastaferri said.
John Hancock Retirement Plan Services replaced Mercer as record keeper in October. Minor changes were made to the lineup at that time.
