Paychex Inc., Rochester, N.Y., added the Vanguard Short-Term Bond Index Fund to the investment options lineup of its 401(k) plan.
The company added the passive short-term fixed-income fund managed by Vanguard Group in the year ended Dec. 31, according to a comparison of its 11-K filing with the SEC Wednesday and last year's filing.
As of Dec. 31, the Vanguard index fund had $23 million in assets in the plan, according to the new 11-K filing.
The plan also removed the Columbia Short-Term Bond Fund during 2021, according to a comparison of this year and last year's filings.
As of Dec. 31, 2020, the active short-term fixed-income fund managed by Columbia Threadneedle Investments had $19 million in assets in the plan, according to the prior 11-K filing.
The reasons for the changes were not provided.
As of Dec. 31, the Paychex Inc. 401(k) Incentive Retirement Plan had $2 billion in assets, according to the new 11-K filing.
Paychex spokeswoman Lisa Fleming and spokesman Chris Muller could not be immediately reached for further information.