Consolidated Communications Holdings Inc., Mattoon, Ill., added four investment options to its 401(k) plan lineup during 2018, confirmed Vivian Schott, vice president of compensation and benefits.
The plan added the T. Rowe Price Overseas Stock fund, an active international equity fund managed by T. Rowe Price Group, and the Janus Enterprise fund, an active domestic midcap growth equity fund managed by Janus Henderson Investors, according to the company's 11-K filing with the SEC on June 21. The funds had $14 million and $9 million, respectively, in assets in the plan as of Dec. 31, according to the filing.
The plan also added the Northern Small Cap Value fund, an active domestic small-cap value equity fund managed by Northern Trust Asset Management, and the Vanguard Total International Stock Index fund, a passive international equity fund managed by Vanguard Group. Each fund has less than $1 million in assets in the plan as of Dec. 31.
Also during 2018, the plan removed the Goldman Sachs Growth Opportunities Institutional fund, an active domestic large-cap growth equity fund, and the Goldman Sachs Small Cap Value fund, an active domestic small-cap value equity fund, both managed by Goldman Sachs Asset Management. The funds had $10 million and $6 million, respectively, in assets in the plan as of Dec. 31, 2017, according to the company's previous 11-K filing.
Also removed was the Harbor International Fund, an active international equity fund managed by Harbor Capital Advisors and subadvised by Marathon Asset Management. The fund had $17 million in assets in the plan as of Dec. 31, 2017.
"Consolidated Communications recently merged the two FairPoint 401(k) plans into the company plan with one record keeper," Ms. Schott said. With this change, we reviewed all funds, expanded investment choices and implemented new-hire auto enrollment. With the combined plan exceeding $900 million, the company now has lower asset fees, reduced record keeping costs and improved fee transparency."
As of Dec. 31, the Consolidated Communications Inc. 401(k) Plan had $828 million in assets. As of that same date, the plan had 18 investment options, a common stock fund and a target-date fund lineup managed by T. Rowe Price Group.