Vermont Municipal Employees Retirement System, Montpelier, will begin offering its new 401(a) plan on July 1.
The system, which already has a $167 million defined benefit plan, will give employees the option of switching to the new plan at the time, said James Douglas, state treasurer.
Fidelity is bundled provider.
The new plan will offer 15 options. The funds are: Fidelity managed income; PIMCO Total Return; Fidelity Puritan; Fidelity Equity Income; Fidelity Low-Priced Stock; Fidelity Spartan U.S. index; Domini social responsibility; Fidelity Fund; Fidelity Blue Chip Growth; Fidelity Aggressive Growth; MSDW emerging growth; Fidelity Diversified International; Fidelity Dividend Growth; Fidelity Government Income; and Fidelity Freedom.