Electrical components and equipment company nVent Management Co., St. Louis Park, Minn., added a target-date fund series managed by Vanguard Group to the investment options lineup of its 401(k) plan.
The company added the series of 11 target-date funds managed by Vanguard Group in 2022, according to a comparison of its June 27 11-K filing and last year's filing.
As of Dec. 31, the Vanguard target-date funds had a total of $201 million in assets in the plan, according to the new 11-K filing.
The comparison also showed the company removed a similar target-date fund series managed by J.P. Morgan Asset Management from the lineup in 2022.
As of Dec. 31, 2021, the 10 J.P. Morgan SmartRetirement funds had $229 million in assets in the plan, according to last year's filing.
The new 11-K filing did not provide a reason for the change.
As of Dec. 31, the nVent Management Co. Retirement Savings and Investment Plan had $475 million in assets, according to the new 11-K filing.
Company spokeswoman Stacey Wempen could not be immediately reached for further information.
