The Cooperative Bank Employees Retirement Association, Norwood, Mass., added three lifestyle investment options to its 401(k) plan to be run by five managers used by the association's defined benefit plan. The three funds will bring to seven the options offered by the $115 million defined contribution plan. The lifestyle funds vary in their stock/bond ratios; a conservative 30/70, a middle-of-the-road 50/50 mix and a more aggressive 70/30 blend, said Francis Maloney, president.
Managers brought over to the 401(k) plan are: MFS Asset Management for global fixed income; Templeton Investment Counsel for non-U.S. equities; Axe-Houghton for domestic small-cap equity; Ark Asset Management for domestic large-cap stock; and Standish Ayer & Wood for U.S. fixed income. New England Pension Consultants assisted.