Sherwin Williams Co., Cleveland, removed six collective investment trusts managed by Matrix Trust Co. from the investment options lineup of its 401(k) plan in 2020.
A comparison of the company's 11-K filing with the SEC Wednesday and last year's 11-K filing shows the plan removed Matrix's lineup of TOPS Strategic Allocation portfolios from the 401(k) plan.
The six portfolios — Aggressive Growth, Growth, Balanced, Moderate Growth, Conservative, and Income and Growth — had a total of $64 million in plan assets as of Dec. 31, 2019, according to the prior 11-K filing.
The new 11-K filing did not provide a reason for the removal of the CITs.
As of Dec. 31, the Sherwin-Williams Co. Employee Stock Purchase and Savings Plan had $9.4 billion in assets, according to the new 11-K filing.
Company spokeswoman Julie Young could not be immediately reached for further information.
