AbbVie Inc., North Chicago, Ill., added four passive collective investment trusts managed by State Street Global Advisors and an active domestic core-plus fixed-income trust managed by TCW Group to the investment options lineup of its 401(k) plan.
During 2021, the plan added the State Street S&P 500 Index Securities Lending Series CIT, State Street Russell Small/Mid Index Securities Lending Series CIT, State Street Global All Cap Equity ex-U.S. Index Securities Lending CIT and State Street U.S. Bond Index Securities Lending Series CIT, according to a comparison of the company's 11-K filing on June 23 and last year's filing.
As of Dec. 31, the State Street CITs had $1.2 billion, $583 million, $435 million and $4 million, respectively, in assets in the plan, according to the new 11-K filing.
Also during 2021, the plan added the TCW Metwest Total Return Bond CIT, according to the comparison of this year's and last year's filings. As of Dec. 31, the active core-plus fixed-income CIT had $386 million in assets in the plan, according to the new 11-K filing.
The comparison also showed the plan removed eight investment options from the plan during 2021.
Among those were four mutual funds: the J.P. Morgan Core Bond Fund, an active core fixed-income fund managed by J.P. Morgan Asset Management; the GMO Global Asset Allocation Series Fund; and PIMCO All Asset Fund, a tactical allocation fund, and PIMCO Short-Term Portfolio Institutional Fund, an ultrashort-duration fixed-income fund, both managed by Pacific Investment Management Co.
As of Dec. 31, 2020, those mutual funds had $396 million, $146 million, $74 million and $19 million, respectively, in assets in the plan, according to the prior 11-K filing.
Also during 2021, the plan removed four collective investment trusts: The Vanguard Institutional 500 Index Trust, Vanguard Institutional Extended Market Trust, Vanguard Total International Stock Index Trust, all managed by Vanguard Group, and the Northern Trust Collective Short-Term Investment Fund, a short-duration fixed-income CIT managed by Northern Trust Asset Management, according to the comparison of this year's and last year's filings.
As of Dec. 31, 2020, those CITs had $958 million, $529 million, $384 million and $2 million, respectively, in assets in the plan, according to the prior 11-K filing.
The new 11-K filing did not provide a specific reason for the change. The firm had previously reported it had hired Empower Retirement as record keeper in 2021 to replace Alight Solutions.
As of Dec. 31, the AbbVie Savings Plan had $8.2 billion in assets, according to the new 11-K filing.
AbbVie spokesman Frank J. Benenati could not be immediately reached for further information.