Provident Financial Services Inc., Jersey City, N.J., added five index funds managed by Fidelity Investments to the investment options lineup of its 401(k) plan in 2020.
As of Dec. 31, the Fidelity 500 Index Fund, Fidelity Small Cap Index Fund, Fidelity U.S. Bond Index Fund, Fidelity Mid Cap Index Fund and Fidelity Global ex-U.S. Index Fund had $8 million, $2 million, $2 million, $2 million and $1 million, respectively, in assets in the plan, according to the company's June 29 11-K filing with the SEC.
A comparison of this year's 11-K filing and last year's filing shows the plan removed three index funds managed by Principal Global Investors and two index funds managed by Vanguard Group from the lineup in 2020.
As of Dec. 31, 2019, the Principal Large Cap S&P 500 Index Fund, Principal Small Cap S&P 600 Index Fund, Vanguard Total Bond Market Index Fund, Principal Mid Cap S&P 400 Index Fund and Vanguard Total International Stock Index Fund had $7 million, $2 million, $1 million, $1 million and $1 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 Provident Bank 401(k) Plan had $126 million in assets, according to the new 11-K filing.
Company spokesman Keith Buscio could not be immediately reached for further information.