United Parcel Service Inc., Atlanta, added six collective investment trusts managed by BlackRock to the investment options lineup of its 401(k) plan in 2018, the shipping company disclosed in its 11-K filing with the SEC on Tuesday.
The plan added the BlackRock Extended Equity Index Fund, which had $1.1 billion in assets in the plan as of Dec. 31, according to the filing; the BlackRock U.S. Debt Index Fund, which had $625 million in assets in the plan as of Dec. 31; the BlackRock World ex-U.S. Index Fund, $541 million; the BlackRock Government Short-Term Investment Fund, $212 million; the BlackRock Emerging Markets Non-U.S. Equity Fund, $153 million; and the BlackRock Short-Term Investment Fund, $2 million.
Also during 2018, the plan removed 11 collective investment trusts managed by State Street Global Advisors. Among those trusts, the five with the most assets in the plan as of Dec. 31, 2017 according to the company's previous 11-K filing were the State Street Bank & Trust Standard & Poor's Midcap Index Fund, which had $858 million; the State Street Bank & Trust World ex-U.S. Index Fund, $598 million; the State Street Bank Money Market Fund Government Short-Term Investment trust, $159 million; the State Street Bank & Trust Passive Intermediate Bond Market Fund, $93 million and the State Street Bank & Trust Standard & Poor's 500 Flagship Fund, $91 million.
The reason for the changes was not provided.
As of Dec. 31, the UPS 401(k) Savings Plan had $8.9 billion in assets, according to the new 11-K filing. The plan had 10 investment options, a common stock fund and a target-date fund lineup managed by SSGA.
Spokesman Glenn Zaccara said the company regularly reviews its investment options but would not comment on the reason for this change.