Searches and Hires

Arizona State Retirement DC plan replaces 5 funds with Fidelity options

Arizona State Retirement System, Phoenix, added five passive investment options managed by Fidelity Investments to the lineup of its $16 million Supplemental Salary Deferral Plan, according to a brochure posted on that plan's website.

The plan added the Fidelity U.S. Bond Index Premium Fund, Fidelity Mid Cap Index Premium Fund, Fidelity Small Cap Index Premium Fund, Fidelity Global ex U.S. Index Premium Fund and Fidelity 500 Index Institutional Fund, effective June 18.

They replace similar funds, all managed by Vanguard Group, from which participants were mapped to the new funds. A reason for the switch was not provided.

David Cannella, retirement system spokesman, could not be immediately reached to provide further information.