Eagle Materials Inc., Dallas, changed the entire lineup of investment options in its newly merged 401(k) plan during 2018, the company disclosed Wednesday in an 11-K filing with the SEC.
The revamped lineup featured 13 investment options and a target-date fund lineup managed by Vanguard Group. That target-date fund lineup had a combined $74 million in assets in the plan as of Dec. 31, according to the filing.
Among the funds added during 2018 were: Northern Trust Asset Management's S&P 500 Index Fund, which had $13 million in assets in the plan as of Dec. 31; an active domestic midcap value fund managed by MFS Investment Management, which had $5 million; and the Harbor Capital Appreciation Fund, an active domestic large-cap growth equity fund managed by Harbor Capital Advisors and subadvised by Jennison Associates, which had $4 million.
The plan previously had a target-date fund lineup managed by Fidelity Investments, which had a total of $73 million in assets in the plan as of Dec. 31, according to the company's previous 11-K filing.
Among the plan's 14 investment options removed during 2018 were: Fidelity Investments' Spartan 500 Index Institutional Fund, which had $14 million in assets in the plan as of Dec. 31, 2017; the Fidelity Low-Priced Stock Fund, which had $7 million; and the Fidelity Spartan U.S. Bond Index Fund, $5 million.
As of Dec. 31, the Eagle Materials Inc. Retirement Plan had $148 million in assets, according to the new filing. Assets reflect the merging of the company's Hourly Profit Sharing Plan and its Profit Sharing and Retirement Plan, effective Dec. 31. The name was changed to the Eagles Materials Inc. Retirement Plan on Jan. 1.
Company spokesman Robert S. Stewart could not be immediately reached to provide further information.
