Transamerica Corp., Cedar Rapids, Iowa, added four index funds managed by Fidelity Investments and a target-date collective investment trust series managed by BlackRock to the investment options lineup of its 401(k) plan in 2020.
They are part of a series of changes made to the plan following a review of the plan's investment options by the plan's fiduciary committee, spokesman Hank Williams said in an email.
"When they deem appropriate, the plan's investment options are updated," Mr. Williams said. He did not provide further information.
The plan added four institutional index funds managed by Fidelity to the lineup in 2020. As of Dec. 31, the 500 Index fund, Extended Market Index fund, Total International Index fund and U.S. Bond Index fund had $441 million, $89 million, $40 million and $34 million, respectively, in assets in the plan, according to the company's 11-K filing Monday with the SEC.
As of Dec. 31, 2019, Vangard's Institutional Index fund, Small Cap Index fund, Total International Stock Index fund, and Total Bond Market Index fund had $351 million, $68 million, $48 million and $31 million, respectively, in assets in the plan, according to the company's prior 11-K filing.
The Fidelity index funds replaced four similar Vanguard Group index funds.
Also in 2020, the plan added an active domestic smidcap equity separate account managed by Atlanta Capital Management, which had $145 million in assets in the plan as of Dec. 31, according to the new 11-K filing, the PGIM Core Plus Bond CIT, an active domestic core-plus fixed-income trust managed by PGIM Fixed Income ($125 million) and the Columbia Contrarian Core Institutional CIT, an active domestic large-cap equity trust managed by Columbia Threadneedle Investments ($120 million).
The plan also added a series of BlackRock Lifepath Index CITs. As of Dec. 31, that series had a total of $234 million in assets in the plan, according to the 11-K filing.
In 2020, the plan removed six Transamerica Financial-managed equity and fixed-income separate accounts, which had a total of $820 million in assets in the plan as of Dec. 31, 2019, according to the prior 11-K filing; the Goldman Sachs Growth Opportunities Fund, an active domestic large-cap growth equity fund managed by Goldman Sachs Asset Management ($35 million); and the Invesco Oppenheimer Developing Markets Fund, an active international equity fund managed by Invesco ($23 million).
As of Dec. 31, the Transamerica 401(k) Retirement Savings Plan had $2.3 billion in assets, according to the new 11-K filing.
