Corecivic Inc., Brentwood, Tenn., added the BlackRock LifePath series of target-date funds and two other funds to the investment options lineup of its 401(k) plan in 2019.
The passive target-date funds managed by BlackRock had a total of $73 million in assets in the plan as of Dec. 31, according to an 11-K filing with the SEC on Tuesday.
The company's investment committee selected the funds in October to replace the existing target-date funds managed by J.P. Morgan Asset Management, the filing said. Participants in the J.P. Morgan funds were automatically mapped to their corresponding target-date fund. The filing did not provide a specific reason for the replacement.
Also in October, the investment committee added the Putnam Equity Income Fund, an active domestic large-cap value equity fund managed by Putnam Investments, and the Western Asset Core Bond Fund, an active domestic core fixed-income fund managed by Western Asset Management.
The funds did not replace any other funds and each had less than $1 million in assets in the plan as of Dec. 31, according to the filing.
As of Dec. 31, the Corecivic 401(k) Plan had $376 million in assets, according to the filing. As of that same date, the plan had 15 individual investment options, a common stock fund and the BlackRock target-date fund lineup.
Corecivic officials could not be immediately reached for further information.
