CVS Health Corp., Woonsocket, R.I., hired Vanguard Group as record keeper of its 401(k) plan, the company disclosed in an 11-K filing with the SEC.
Vanguard Group replaced Conduent effective Jan. 1.
Also effective Jan. 1, the Vanguard Group's FTSE Social Index Fund replaced the Neuberger Berman Sustainable Equity Fund as the underlying fund in the socially responsible fund in its investment options lineup. The June 27 filing also noted that 10 custom target-date funds were implemented in the plan effective Jan. 1, but did not identify the manager.
The reasons for the changes were not provided.
As of Dec. 31, the 401(k) Plan and the Employee Stock Ownership Plan of CVS Health Corp. and Affiliated Companies had $10.3 billion in assets, according to the 11-K filing. As of that same date, the plan had 17 investment options and a common stock fund.
CVS spokesman Joseph Goode could not be immediately reached to provide further information.