Oakland County Retirement and Deferred Compensation Board, Waterford, Mich., added a socially responsible investment option managed by Vanguard Group to the county's 401(a) and 457 plan lineups and replaced two other investment options in the plans.
The board at its Nov. 21 meeting approved the addition of the Vanguard FTSE Social Index Fund to the lineups, recently released minutes show.
The board at the meeting also added an active domestic large-cap growth equity fund managed by J.P. Morgan Asset Management, replacing a similar fund managed by Fidelity Investments, and added a bank loan fund managed by Columbia Threadneedle Investments, replacing a similar fund managed by Invesco. The bank loan fund is available in only the 457 plan lineup.
The reasons for the changes was not provided. Both plans have 28 investment options and a target-date fund lineup managed by Nuveen. Plan asset information could not be immediately learned.
Investment consultant Graystone Consulting assisted.
Silvia Frank, retirement administrator, could not be immediately reached to provide further information.
