The Paychex 401(k) Incentive Retirement Plan added the Glenmede Small Cap Equity Fund and dropped the T. Rowe Price Small-Cap Value Fund from its investment lineup last year, said the latest 11-K filed by Paychex Inc., Rochester, N.Y., on June 20.
The T. Rowe Price fund had about $34 million in plan assets as of Dec. 31, 2014. The Glenmede Investment Management fund had $29.1 million in assets at the end of 2015.
The Paychex 401(k) plan had $881.9 million in assets as of Dec. 31.
The 11-K filing also said the plan dropped the Fidelity U.S. Government Reserves Fund last year. It had $37.7 million in assets at the end of 2014. The plan also added the Fidelity Government Money Market Fund, managed by Fidelity Investments last year. It had $38.1 million in assets by year-end 2015, according to the 11-k statement.
The 11-K did provide reasons for the changes, or when the actions took place.
Officials from Paychex did not provide additional information by press time.
