Montana Public Employee Retirement Administration, Helena, added the Neuberger Berman High Income Bond Fund to the lineup of its roughly $140 million 401(a) plan, recently released board meeting minutes show.
A search was launched earlier this year for the plan's first high-yield fixed-income manager. An RFP was not issued.
The fund already is offered to participants in MPERA's approximately $436 million 457 plan.
Investment consultant Buck Consultants assisted.
Patricia Davis, member services bureau chief, could not immediately be reached for additional information.