FNB Corp., Pittsburgh, added a new target-date fund series managed by Fidelity Investments to the investment options lineup of its 401(k) plan.
The company added the target-date funds during 2022, according to a comparison of its June 28 11-K filing and last year's filing.
As of Dec. 31, the 14 Fidelity target-date funds had $102 million in assets in the plan, according to the new filing.
The comparison also shows the company removed a similar series of target-date funds managed by T. Rowe Price Group during 2022.
As of Dec. 31, 2021, the 14 T. Rowe Price target-date funds had $120 million in assets in the plan, according to last year's filing.
Spokeswoman Jennifer Reel said in an email that the change in target-date fund managers was due to the change in the plan’s record keeper to Fidelity Investments from T. Rowe Price Group.
As of Dec. 31, the FNB Corp. Progress Savings 401(k) Plan had $386 million in assets, according to the new 11-K filing.
