Lam Research Corp., Fremont, Calif., added a new series of target-date collective investment trusts managed by State Street Global Advisors to the investment options lineup of its 401(k) plan in 2020.
As of Dec. 31, the series of 12 CITs had a total of $491 million in assets in the plan, according to the semiconductor company's 11-K filing Tuesday with the SEC.
A comparison of this year's and last year's 11-K filings show the plan also removed a similar series of target-date CITs managed by Vanguard Group in 2020.
As of Dec. 31, that series of 12 CITs had a total of $407 million in assets in the plan, according to the prior 11-K filing.
Also in 2020, the plan added the BlackRock Strategic Global Bond Fund, an active global fixed-income mutual fund, and removed the Templeton Global Bond Fund, a similar fund managed by Franklin Templeton, a comparison of the 11-K filings shows.
As of Dec. 31, the BlackRock fund had $5 million in assets in the plan, the new 11-K filing shows. A year earlier, the Franklin Templeton fund had $7 million in assets in the plan, according to the prior 11-K filing.
The new 11-K filing did not provide reasons for the changes.
As of Dec. 31, the Lam Research 401(k) Savings Plan had $2.1 billion in assets, according to the new 11-K filing.
Company spokeswoman Libra White could not be immediately reached for further information.