Geo Group Inc., Boca Raton, Fla., added a target-date fund series and four index funds managed by Fidelity Investments to the investment options lineup of its 401(k) plan in 2020.
As of Dec. 31, the series of 14 Fidelity Freedom target-date funds had a total of $98 million in assets in the plan, according to the company's June 29 11-K filing with the SEC.
Also as of Dec. 31, the Fidelity 500 Index Fund, Fidelity U.S. Bond Index Fund, Fidelity Mid-Cap Index Fund and Fidelity International Index Fund had $16 million, $4 million, $3 million and $2 million, respectively, in assets in the plan, according to the new 11-K filing.
Also the plan added the JHancock Disciplined Value Mid Cap Fund, an active domestic midcap value equity fund managed by John Hancock Investment Management and subadvised by Boston Partners Global Investors, and the Vanguard Small Cap Index Fund and Vanguard Treasury Money Market Fund, both managed by Vanguard Group, which had $3 million, $2 million and $1 million, respectively, in assets in the plan as of Dec. 31, according to the new 11-K filing.
A comparison of the new 11-K filing and last year's filing shows the plan removed a target-date fund series and an index fund managed by MML Investment Advisers, four index funds managed by Northern Trust Asset Management and an active domestic midcap value equity fund managed by Harbor Capital Advisors and subadvised by LSV Asset Management.
As of Dec. 31, 2019, the series of five MassMutual Select target-date funds had $84 million in assets in the plan, according to the prior 11-K filing.
Also as of that date, the MassMutual Select Indexed Equity Fund, Harbor Mid Cap Value Fund, Northern Funds Bond Index Fund, Northern Funds Mid Cap Index Fund, Northern Funds International Equity Index Fund and Northern Funds Small Cap Index Fund had $14 million, $3 million, $3 million, $2 million, $2 million and $2 million, respectively, in assets in the plan, according to the prior 11-K filing.
The new 11-K filing did not provide a reason for the changes.
As of Dec. 31, the Geo Save 401(k) Plan had $233 million in assets, according to the new 11-K filing.
Geo Group officials could not be immediately reached for further information.