International Business Machines Corp., Armonk, N.Y., added three index fund separate accounts managed by State Street Global Advisors to the investment options lineup of its 401(k) plan in 2022.
The SSGA separate accounts replaced three commingled funds managed by Vanguard Group, according to a comparison of the company's June 16 11-K filing and last year's filing.
As of Dec. 31, SSGA's Total Stock Market index separate account, European Stock index separate account and Pacific Stock index separate account had $6.2 billion, $343 million and $261 million, respectively, in assets in the plan, according to the new 11-K filing.
The comparison between this year's and last year's filing show the plan removed the Vanguard Total Stock Market Index Trust, Vanguard European Stock Index Trust and Vanguard Pacific Stock Index Trust, which previously had $7.9 billion, $447 million and $327 million, respectively, in assets in the plan as of Dec. 31, 2021, according to the prior 11-K filing.
The new 11-K filing did not provide reasons for the changes.
As of Dec. 31, the IBM 401(k) Plus Plan had $52.4 billion in assets, according to the new 11-K filing.
IBM spokesman Timothy F. Davidson could not be immediately reached for further information.
