Lowe’s Cos. Inc., North Wilkesboro, N.C., added seven employee investment options, bringing the total to 12 funds in its employee savings and investment plan.
Funds added were: Vanguard LIFEStrategy; MFS Capital Opportunity; American Century Value; Franklin Balance Sheet Investment; SAFECO Growth Class A; American Century International Growth; and MetLife stable value.
MetLife previously had a smaller portion of the stable value fund, managing only the employer match portion, with INVESCO handling the employee match in its Stable Value Retirement Fund. While trustees were pleased with INVESCO, they decided to move the entire option to MetLife to save on fees, said Edgar M. Spears, vice president of benefits and payroll. MetLife will now manage $68 million in a series of actively managed separate account GICs, up from $47 million. The plan has a total of 30,000 participants and $235 million in assets.
