Simon Property Group Inc., Indianapolis, completed a total overhaul of the investment options lineup of its 401(k) plan in 2019 that included the addition of a target-date collective investment trust lineup managed by State Street Global Advisors.
The SSGA lineup of 11 target-date CITs had a total of $184 million in assets in the plan as of Dec. 31, according to the company's 11-K filing with the SEC on Friday.
The new lineup also includes three equity CITs and one diversified fixed-income CIT managed by Mercer with a total of $137 million in assets in the plan as of Dec. 31, and five index fund CITs managed by SSGA with a total of $101 million in assets in the plan as of Dec. 31.
Also new to the plan was a stable value option managed by Invesco that had $3 million in assets in the plan as of Dec. 31.
The lone remaining options from 2018 were a Simon Property Group common stock fund and a managed-income portfolio provided by Fidelity Investments, the plan's record keeper.
According to the company's prior 11-K filing, the plan featured the Fidelity Freedom series of target-date funds as of Dec. 31, 2018. At the time, the 13 funds had a total of $87 million in assets in the plan.
The plan featured 16 other individual mutual fund options as of Dec. 31, 2018, that were also absent in the new 11-K filing.
Investment options that held the most plan assets at the time were the Fidelity 500 Index Fund, with $44 million, and the Fidelity Low-Priced Stock Fund, with $29 million.
As of Dec. 31, the Simon Property Group and Adopting Entities Matching Savings Plan had $476 million in assets, according to the new 11-K filing.
Officials at Simon Property could not be immediately reached for further information.
