Meta Financial Group Inc., Sioux Falls, S.D., added a target-date fund lineup managed by Capital Group to the investment options lineup of its 401(k) plan in the fiscal year ended Sept. 30.
The American Funds target-date funds lineup had $25 million in assets in the plan as of Sept. 30, according to the company's new 11-K filing March 27 with the SEC.
During the same time period, the company removed a target-date fund lineup managed by Principal Global Investors.
That lineup had $17 million in assets in the plan as of Sept. 30, 2018, according to the company's prior 11-K filing.
The reason for the change was not provided. Principal Financial was the plan's record keeper as of Sept. 30, according to the new 11-K filing. As of that date, the plan had 23 investment options, a common stock option and the target-date fund lineup.
As of Sept. 30, the MetaBank Profit Sharing 401(k) Plan had $56 million in assets, according to the new 11-K filing.
Brittany Kelley Elsasser, director of investor relations, could not be immediately reached for further information.
