Dime Community Bancshares Inc., New York, added three index funds managed by Fidelity Investments to the investment options lineup of its 401(k) plan.
The Fidelity 500 Index Fund, Fidelity Extended Market Index Fund and Fidelity U.S. Bond Index Fund, all added in 2019, had $6 million, $2 million and $221,000 in assets in the plan, respectively, as of Dec. 31, according to the company's June 26 11-K filing with the SEC.
Also during 2019, the plan removed the Vanguard 500 Index Fund Admiral Shares from the investment options lineup. The passive domestic large-cap equity fund managed by Vanguard Group had $5 million in assets in the plan as of Dec. 31, 2018, according to the company's prior 11-K filing.
The new 11-K filing did not provide a reason for the changes.
As of Dec. 31, the Dime Community Bank KSOP had $98 million in assets, according to the new 11-K filing. As of that same date, the plan had 11 investment options, a stable value fund, a common stock fund and a target-date fund lineup managed by Vanguard.
Avinash Reddy, senior executive vice president, chief financial officer, could not be immediately reached for further information.
