Corning Inc., Corning, N.Y., overhauled the investment options lineup of its two 401(k) plans.
Among the changes is the addition of a lineup of 12 target-date collective investment trusts managed by Vanguard Group, according to two 11-K filings with the SEC on Tuesday.
The company's previous 11-K filings with data as of Dec. 31, 2018, did not show any target-date funds available for participants.
The new 11-K filings also shows the addition of the Vanguard Institutional Total Stock Market Index Trust and Vanguard Institutional Total International Stock Market Index Trust to the plan lineup. Only the Vanguard Federal Money Market Fund, Vanguard Institutional Total Bond Market Index Trust and Corning Common Stock Fund remain from the prior 11-K filings' lineup notices.
Investment options in last year's 11-K filings that no longer appear in the new filing's lineup include five other Vanguard index funds, a passive domestic fixed-income fund managed by State Street Global Advisors, and a passive international equity fund managed by BlackRock.
Also no longer in the plan are the Dodge & Cox International Stock Fund, an active international equity fund; the Fidelity Contrafund, an active domestic large-cap growth equity fund managed by Fidelity Investments; the PGIM Jennison U.S. Small-Cap Equity Fund, an active domestic small-cap equity fund managed by PGIM Investments and subadvised by Jennison Associates; and the T. Rowe Price Large-Cap Growth Fund, an active domestic large-cap growth equity fund managed by T. Rowe Price Group.
The filings did not provide a reason for the changes, how much in assets in the plan are in each fund or trust, or when the changes were instituted.
As of Dec. 31, the Corning Inc. Investment Plan had $3.4 billion in assets and the Corning Inc. Investment Plan for Unionized Employees had $425 million in assets, according to the new 11-K filings.
Spokeswoman Gabrielle Bailey could not immediately provide further information.