NOW Inc., Houston, added an American Funds target-date series and five 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 12 target-date funds managed by Capital Group had a total of $92 million in assets in the plan, according to the company's 11-K filing with the SEC on Monday.
Also as of that date, the Fidelity 500 Index Fund, Fidelity Mid Cap Index Fund and Fidelity Total International Index Fund had $22 million, $10 million and $4 million, respectively, in assets in the plan. The Fidelity U.S. Bond Index Fund and Fidelity Small Cap Index Fund each had less than $1 million in assets in the plan as of that date.
A comparison of this year's 11-K filing and last year's filings shows the plan did not have any target-date funds in the investment options lineup in 2019, and that the plan removed three index funds managed by Vanguard Group in 2020.
As of Dec. 31, 2019, the Vanguard Mid-Cap Index Fund, Vanguard Institutional Index Fund and Vanguard FTSE All World ex-U.S. Index Fund had $26 million, $25 million and $19 million, respectively, 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 NOW Inc. 401(k) and Retirement Savings Plan had $223 million in assets, according to the new 11-K filing.
Jeff Tullos, director of benefits, human resources informations systems, travel at NOW, could not be immediately reached for further information.