Colorado Retirement Association, Littleton, is adding three index funds managed by Fidelity Investments to the investment options lineup of its 401(a) and 457 plans, said Tim Mullen, the association's executive director.
The Fidelity 500 Index Fund, Fidelity Mid Cap Index Fund and Fidelity Small Cap Index Fund will replace similar index funds managed by Vanguard Group.
Mr. Mullen said fee savings were a strong consideration in the change. A chart on the association's website shows the fees lowered to a range of 0.015% to 0.025% from a range of 0.02% to 0.04%.
How much each of the funds has in assets in the plan was not available.
Mr. Mullen said the 401(a) and 457 plans have combined assets of between $2.2 billion and $2.3 billion.
Colorado Retirement Association was formerly known as Colorado County Officials & Employees Retirement Association.
