Meritor Inc., Troy, Mich., added the American Century Small Cap Growth Fund to the investment options lineup of its 401(k) plan.
The active domestic small-cap growth equity fund managed by American Century Investments was added in 2019 and had $11 million in assets in the plan as of Dec. 31, according to an 11-K filing with the SEC on Monday.
The company's prior 11-K filing listed the PNC Small Cap Fund, a similar fund managed by PNC Capital Advisors, in its investment options lineup. That fund had $10 million in assets in the plan as of Dec. 31, 2018.
Federated Investors in 2019 purchased parts of PNC Capital Advisors' money management business, which included the PNC Small Cap Fund. The new filing did not include the Federated MDT Small Cap Core Fund, to which Federated moved the assets of the PNC Small Cap Fund.
As of Dec. 31, the Meritor Inc. Savings Plan had $617 million in assets, according to the new 11-K filing. Also as of that date, the plan had 13 mutual fund investment options, one collective trust fund option, a common stock fund and a target-date fund lineup managed by T. Rowe Price Group.
Separately, the new 11-K filing also discloses the company has suspended its matching contribution of 100% for the first 3% of employee contributions and 50% of the next 3% of contributions. The reason for the suspension, which was effective May 1, was not provided.
Multiple plans have suspended matching contributions in recent months due to the economic impact of the COVID-19 pandemic.
Meritor spokeswoman Krista Sohm could not be immediately reached for further information.
